Strategy of Samsung Essay Example | Topics and Well Written Essays - 4750 words

Strategy of Samsung - Essay Example The ultimate aim was to make Samsung a premium brand - one that, like Sony, would not have to compete on price. Steadily, it started building initiatives for transforming itself into a global brand and consolidates its presence in global markets. Samsung Company was established in 1969 as the flagship company of Samsung Corporation. After LG (Lucky Goldstar) and Daewoo, it was ranked the third largest player in the Korean electronics market. The Samsung Group comprises of The six elements of Samsung organization (Strategy, policies, structure, systems Climate, and culture) dynamically affect one another. Each element interacts with the environment as a business strives towards its goals. The problem definition/action planning process requires that a manager look at all six elements of the organizational model to determine which action levels will exist to implement positive change. If he environment changes, the organizational elements must adapt No organization exists in isolation. Every organization exists in an environment where it interacts with, and is influenced by, the general public, specific groups (whether they be customers, clients, suppliers, pressure groups, etc) and/or various government bodies. The organization is also affected by the economic, political, legal, social, technological and international variables of the times. All managers, whether they work in the public or private sector, operate in the same external environment. They face common pressures that the environment exerts on them. However, the nature of their work and the type of organization they work for will determine how these common environmental factors are perceived - whether they are seen as positive or negative, threats or opportunities. (Yvonne 15) Strategy is the most exciting part of manager's work in an organization because it gives the chance to put all his new skills to work. Strategic thinking involves a comprehensive analysis of a business in relation to its industry, its competitors, and the business environment in both the short- and the long-term. Ultimately, strategy is a company's plan to achieve its goals. Corporate managements often do not know clearly what they want or how they'll get there. Corporations need well thought-out strategic plans or inevitably they will become victims of the marketplace instead of being the victors who shape it. As well as being aware of the influence of the external