BIN3020-N UG Business Research Methods Top-Up: What Strategy Samsung Used For Its Electrons To Be International
BIN3020-N UG Business Research Methods Top-Up: What Strategy Samsung Used For Its Electrons To Be International
BIN3020-N UG Business Research Methods Top-Up: What Strategy Samsung Used For Its Electrons To Be International
2.1 Introduction
2.2 Body
2.3 Conclusion
4.1 Conclusion
4.2 Recommendation
6. REFERENCE
Chapter-1 introduction and background
According to Dr. Jinjoo Lee (April 2003) after Thomson France) and TCL (China) formed
a joint venture in 2004 to produce television sets, the European branch of the joint
venture filed for bankruptcy in 2007. Sharp (Japan), which owns a 29 percent capital
stake in Loewe, is responsible for keeping the traditional German high price assembler
alive.Dr. Jinjoo Lee (April 2003) In the 1970s, Japanese companies first began actively
expanding their operations across Europe. In comparison to Japanese competition,
South Korea's electronics sector has developed rapidly over the last two decades in
Europe, and its market entrance and penetration techniques are all the more
spectacular for it.
Globally, Samsung is one of the most recognizable names in the IT industry. All of its
efforts are directed on developing ground-breaking new products that improve people's
lives and lead to widespread economic growth. It's also a business founded on the
principle that the best ways to approach any problem are with innovative ideas, strong
collaboration, and top talent. A. Musaed Almutairi. 2019. As such, it aspires to have a
global fan base, earn a reputation for innovation, and get respect from industry leaders.
That's why it emphasizes the importance of the value created along with its partners
and collaborators, as well as within its own staff. While Samsung may not have a
physical presence in every country on the planet right now, its goods can be found in
almost every city on the planet. Even though it is now an international corporation and a
technological industry leader, this firm began like any other one does: as a concept for a
business and the taking of baby steps forward. According to Shivam Mehta (2019).The
purpose of this paper is to track down and examine the myriad of individual
contributions that have added up to make Samsung the global powerhouse that it is
today.
In other words, this research aims to learn more about how the firm internationalizes
itself to expand into new markets. Thus, factors like industry and competitive analysis,
obstacles faced by the firm, entrance method into other nations, promotional channels,
pricing, logistics, financing, human resources, and product design will all be taken into
account (Fatima Al Rashidi, 2019). Similar attention will be paid to how the firm has
dealt with global competition from other major technological firms and the challenges it
has faced on its path to success.
Samsung is a global brand with a presence in most regions; however, not all nations
have an official Samsung office or distribution hub. The firm has grown to become a
global powerhouse in the technological industry, but it began like every other company
does—as a concept for a business and a series of incremental improvements.
Consequently, the rationale of this work is to isolate and examine the myriad
contributing factors that have contributed to Samsung's meteoric rise to global
prominence and global market dominance.
This project analyzes Samsung Electronics' strategic policies and how they affect the
company's offerings. The study's theoretical framework includes marketing and strategic
policies, and its practical consequences span a broad range. The study's overarching
goal is to offer insight into how Samsung can better capture the market by analyzing the
growth of its products in the face of competition, the effect of the company's various
strategies and policies, and so on.
There will be five main chapters with several subsections for this research. The first
chapter will introduce the issue and give context, while also outlining the study's goals
and research questions. In Chapter 2, we'll read several connected works. Research
technique, including research approach, research design, data collecting, and analytic
plans, will be outlined in Chapter 3. Data presentation and analysis will take place in
Chapter 4. Discussion and final thoughts will be presented in Chapter 5. In Chapter
Five, We Will Discuss the Conclusions of the Study.
2.1 – Introduction
Samsung, one of the world's top technology corporations, not only encourages research
and development of cutting-edge tech but also claims that its goods will make people's
lives better. In 1969, "Samsung-Sanyo Electronics" was established as the company's
name; however, "Samsung Electronics Industry Co Ltda" was adopted as the official
name in the following years. Initially, the company focused on the manufacture and
export of TVs, washing machines, and refrigerators, despite the low demand for the
latter two. according to (Musaed Almutairi, 2017) The 1980s saw the beginning of the
firm's manufacturing of what would become a wide variety of consumer electronics for
the home, including microwave ovens, computers, and video recorders. Electrical
appliances, telecommunications, and semiconductors were the company's three primary
product lines. Using industrial robots developed for mass manufacturing, Samsung
made strides in the early 1990s in areas like color television, mobile phone development
and manufacture, and the first digital video recorder. Similarly, it introduced novel
technology ideas in the realms of telephone and television devices, such as the first
commercially available liquid crystal display (LCD) screen and the first Internet-enabled
wireless telephone. Since the turn of the millennium, when new facilities were built, the
firm has been able to mass-produce all of its wares. It also discusses the company's
entry into the international semiconductor and process technology sectors and the
continual advancement of its products and services in the years to come. Because of its
commitment and the widespread use of its goods, Samsung will rise to the top of the
technology industry (Shivam Mehta, 2017). It now offers a wide range of services
tailored to its numerous business divisions. Products, company Solutions, and
International Websites are the three main components of its company. Thus, direct
export of the company's goods and services was the most visible aspect of its
internationalization strategy.
Capital Invested Abroad. To expand into new markets in this manner requires a
significant financial commitment from the organization. Shivam Mehta ( 2017) suggests
that Samsung's first forays towards internationalization centered on the sale of TVs in
Panama. It also opened its first overseas office in the United States in 1978 and its first
overseas manufacturing subsidiary in Portugal in 1982. After launching their first
overseas products and seeing increased sales, the company was able to expand into
new markets and establish itself as a global powerhouse.
2.2 BODY
After implementing the New Management plan, Samsung grew from being an unheard-
of firm in the international market in the early 1990s to a top-tier multinational
corporation in the second decade of the new century. Samsung was able to
concurrently improve in many key areas of competition. The memory chip sector of
Samsung Electronics, for instance, has much lower costs than its rivals. By introducing
the highest-quality memory chips first and tailoring its offerings to the needs of each
individual consumer, Samsung was able to set itself apart from the competition. This
means that Samsung has been the market leader in memory chips for almost 20 years,
since 1992. Samsung's lead in market share over its rivals has recently become even
wider.
Diversified but Specialized. Samsung has diversified since its establishment, with
interests in semiconductors, chemicals, construction, shipbuilding, defense machinery,
building security management, hotels, advertising, fashion, investment banking,
insurance, and theme parks. Conglomerates that operate in unrelated domains have
become less competitive, leading to a "conglomerate discount" in the U.S. stock market
(María Alejandra Villa 2017). Samsung has defied this trend and consistently provided
successful performance despite its highly diversified and vertically integrated business
structure. Samsung is a highly diversified and vertically integrated company that
currently holds the global top or runner-up spot in many fields. It has achieved
economies of scale and improved its soft capabilities, and has leveraged the
advantages of this system to create a convergence synergy through systematic
cooperation among related subsidiaries and divisions. It competes with the world's best
companies in diverse product groups, and has a competitive edge over highly
specialized global company.
Brand Building Campaigns. Even the best products can fail without proper
promotion, so Samsung's branding efforts have been as important as innovation.
The company's marketing strategy therefore focused on creating advertising
campaigns to improve Samsung's brand image. Eric Kim was appointed head of
his marketing efforts globally, restructuring the company's sales channels in line
with the goal of establishing Samsung as a high-quality brand. As part of this
effort, Samsung withdrew many of its products from discount chains and began
selling them through major electronics stores such as Best Buy and online
platforms such as Amazon.
Social Factors. Social factors that influence Samsung's PESTLE analysis include
customs, traditions, and practices that differ among different groups, influencing
product demand and willingness to work. Samsung successfully implemented its
global strategy while adapting to the needs of local customers in various
countries. Ever-changing consumer preferences can have both positive and
negative impacts on your business. Brands like Samsung must consider these
socio-cultural forces when strategically planning their marketing efforts.
Samsung's smartphones and tablets have adapted well to the demand for large-
screen devices, with the Galaxy series popular in major markets. Additionally, the
company prioritizes ethical behavior and recognizes that corruption can have a
negative impact on the company's brand value.
2.3 Conclusion
It has also made significant efforts to reduce energy consumption and manage risks
associated with water use, and has developed and implemented management policies
regarding the use of chemical substances. It also struck a deal with Green Development
to help residents of Mombasa, Kenya by providing bioethanol-powered cookstoves. This
initiative has had a positive impact on the lives of local residents.
The data and analysis presented here are from secondary sources. To evaluate
acquisition effectiveness, most research have utilized the same strategy, with event
studies being the most
common. Multiple studies have also utilized an interdisciplinary strategy. These studies
provide a solid groundwork for establishing whether or not there is a connection
between methods, whether or not many methods may be utilized interchangeably, and
whether or not a single methodology can be used to evaluate acquisition efficiency.
Increases in operational cash flows after a merger are strongly correlated with
anomalous stock returns at the time of the merger announcement, according to
research conducted by Healy, Palepu, and Ruback (1992) using the abnormal returns
event study approach.
Secondary research uses data and information from previously published studies
(Church, Russell M. (February 2002)). To find out what data is needed, researchers
often do secondary research first (McCrocklin, S. (2018, October 4). When embarking
on a new investigation, secondary sources make for a convenient jumping off point. The
reliability of secondary sources varies according to the reputation of the person giving
the information (Treadwell, D. F. (2016).
The ethical implications of research must be taken into consideration at every stage,
from planning to analysis to conclusion. The participants should be given a permission
document that explains the research in detail so that they understand what is being
asked of them. There has to be a way for respondents to cancel their participation in the
main response surveys if they change their minds later. The confidentiality of the
participants' replies during storage and management must be guaranteed. The
questionnaire used in this research adhered to all of these guidelines meticulously,
guaranteeing reliable results and interpretations.
Conclusion
Finally, Samsung's success may be attributed in large part to the company's deliberate
choice of tactics that enable it to achieve its objectives. The company's brand, policies,
and practices are all in a strong position thanks to the strategic measures made to
appeal to a global audience. Similarly, the research at hand may shed light on
Samsung's inner workings from a purely managerial vantage point, allowing for an
assessment of the company's adaptability to enter new markets and secure an uptick in
revenue over the course of the previous few years. Although there have been
challenges, the company's ability to constantly assess its surroundings has allowed it to
evolve with the times and lead to revolutionary changes in the industry. With Samsung's
help, businesses of various stripes may find the right fit thanks to the company's
internationalization plans. It is crucial, however, to have an in-depth understanding of
the field in order to behave appropriately at each given juncture.
Recommendation
Throughout its history in the market, Samsung has consistently sought out the best
practices to present the world with a unique and outstanding performance, so it is
important to know that these efforts have been focused on achieving success.
Companies who are just starting out in foreign markets or would want to extend their
reach may learn a lot from Samsung's internationalization experience.
Samsung is a technological firm, but other businesses outside of the tech sector may
help them with the market expansion techniques they've selected. In this vein, it's worth
noting that the study's recommendations may help other businesses do their own in-
depth analyses of the industry using gathered and existing data, all with the end goal of
making incremental improvements. Companies should thus do thorough analyses of
each of these areas in order to properly comprehend Samsung's activities and
successfully follow its steps towards success. Any business that aspires to achieve the
same level of success as one of the world's largest companies can learn from
Samsung's approach to each of the issues raised above.
According to Gantt (2018), Gantt charts are "commonly used in project management
and are one of them." This Gantt chart of the completed research study will assist in
better comprehending all the challenges that were faced. At the outset of any project, it
is essential to define the objectives that will be pursued. In particular, research that is
relevant to the subject that has been chosen is regarded as well-defined research. This
will make everything very obvious.
methodology
Literature review
CHAPTER-6 REFERRENCE
10. Yoo, Y. and Kim, K. (2015). How Samsung Became a Design Powerhouse. Harvard
Business Review.
11. Ivanov, D. (n.d.). Competitiveness over profits: Samsung’s new strategy for 2023.
12. Jia, M. (2022). Analysis on the Internationalization Strategy of Samsung
Group. Accounting and Corporate Management.
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