1.1 Explain Samsung Electronics strategic contexts and terminology – missions, visions, objectives, goals, core competencies.2-4
1.2 Review the issues involved in strategic planning for Samsung Electronics.4-7
1.3 Explain Samsung Electronics different planning techniques.7-10
2.1 Provide an organisational audit for Samsung Electronics.11-15
2.2 Carry out an environmental audit for Samsung Electronics.15-17
2.3 Explain the significance of stakeholder analysis.18-21
Samsung Electronics Company (Samsung Electronics or “the company”), a part of the Samsung group, is one of the leading consumer electronics brands in the world. The company primarily operates in Asia, Europe and Americas. It is headquartered in Seoul, South Korea and employs about 157,701 people. Samsung Electronics Company (Samsung Electronics or “the company”) is engaged in the manufacture and distribution of consumer electronics, communication products, semiconductor products and home appliances. The company, a part of the Samsung group, operates through a number of subsidiaries. Samsung Electronics operates through three business segments: digital media and communications, device solutions, and others. By that reason, it is very important for Samsung to identify its position in retail market and prepare a strategic plan which the organization can apply to sustain its competitive advantage and overcome competition in future.
1.1 Explain Samsung Electronics strategic contexts and terminology – missions, visions, objectives, goals, core competencies.
Mission : statement defines the function and the main purpose of the organization, and it requires the organization to answer the question “Why do we exist?”, so the organization has to know clearly why they was born and how to survive in competitive market place. Thereby, through the mission, the organization can know what it has to do by understanding its meaningful existence. (Finance Maps of world website, 2012). According to Samsung Electronics, mission is to provide the customers with utmost satisfaction through leadership. The fundamental policy of development is to secure product leadership that the Customers may have the utmost satisfaction.
Visions: Samsung’s vision is to deliver innovative digital products and services that make our customers’ lives better, easier and happier through increased functionality and comfortable.
Objectives: They also want to maintain the customers’ loyalty through their developing activities such as improving the customer services and products. Facing with the fierce competition in the current market and the threat of new entrances in the furture, the most important objective of Samsung is that the company has to sustain the organiztional growth ,widen and dominate the market as quickly as possible.
Goal: to deliver on our promise to keep ‘Accelerating Opportunity’ by providing the best communication products of Samsung to enrich the human experience.
Core capabilities: Core competency is a unique ability that a company acquires from its founders or develops and that cannot be easily imitated. Core competencies are what give a company one or more competitive advantages, in creating and delivering value to its customers in its chose field. Also called core capabilities or distinctive competencies. Technology plays core role in the Samsung Electronics do. Is essential to help Samsung Electronics capture inspiration and create products for a better life.
• The digital media and communications division is composed of digital media
and telecommunications reporting segments. The digital media business
segment produces a wide range of products including digital TVs, monitors,
audio-visual devices, and printers. This segment also provides digital home...