Samsung Group

Topics: Samsung Group, Samsung Town, Samsung Electronics Pages: 4 (933 words) Published: February 16, 2013
Business Policy

* South Korean Multinational Conglomerate, Founded 1938, headquartered in Samsung Tower, Seoul. Comprises numerous subsidiaries and affiliated businesses, most of them united under the Samsung brand. * Samsung Electronics

* Samsung Heavy industries
* Samsung Engineering
* Samsung Life Insurance
* Samsung Everland
Lee Kun - Hee - Chairman and CEO.
Lee Soo - Bin - President, CEO of Samsung Life Insurance
Revenue - $ 247.5 billion (2011)
Employees - 3,69,000 (2011)

Vision for the new decade is - "Inspire the World, Create the Future."

Reflects Samsung’s commitment to inspiring its communities by leveraging Samsung's three key strengths: * New Technology
* Innovative Products
* Creative Solutions
To devote our talent and technology to creating superior products and services that contribute to a better global society.

Goal 2020
As part of the vision, Samsung has mapped out a specific plan of reaching $400 billion in revenue and becoming one of the world’s top five brands by 2020.

Three strategic approaches in its management:
* Creativity
* Partnership
* Talent.

The Samsung Value Chain

1. Samsung R&D has three layers. The first two layers are core to technology development and product planning; * The Samsung Advanced Institute of Technology (SAIT) - ensures Samsung's technology competitiveness in core business areas, identifies growth engines for the future, and oversees the securing and management of technology including patents.

* The R&D centers of each business focus on technology that is expected to deliver the most promising long-term results. Each division of SEC has its own research department, but all of these can outsource projects both to SAIT, and to third party institutions.

* Divisional product development teams, working with design centres, are responsible for commercializing products...
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