Samsung Strategic Management Case study
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As mentioned in the report above strategic management can be defined as the brief process of identifying, selecting, choosing and then implementing actions that will help the organization in enhancing long term goals not only by creating ongoing compatibility between the internal skills and resources of the organization but by also bringing an change in the external environment within which it operates.[Ref] To better explain the concept of strategic management a real life case study is presented which is related to the Samsung company helmed by it chairman Lee Kun Hee. Today, Samsung is a major business group which is composed of various South Korean business sectors including Samsung electronics and Samsung Life insurance. Since Samsung today is at a place where most companies dream of, it is not easy for any organization to excel to such a position without a good strategic management.
> Choosing - the best objective which will make the path of achieving the purposes and goals easy and > Implementing - on the choices made keeping in mind the resources. Let's discuss all the dimensions briefly in relation to Samsung. Identifying Clearly Samsung has plans to capture the electronic market and dominate. And this can be evidently seen through the plans the company has. Samsung thinks that the moment is arriving very fast when the company will overthrow Sony Corporation in the electronic industry (ref). Also as said by the chief executive "We believe we can be Number One" (Pearce II, Robinson, 2005: 21-1.) and this has clearly signaled the plans the company has. In other words Samsung has its digital vision of research and development popularly known as R&D, marketing to clients in such a way that a bond with customers is created through Enterprise Resource Planning (ERP)
Implementing This is the stage where the organization is trying to implement the best alternative chosen that will help them to achieve the objectives. This is clearly mentioned that how the company has implemented their chosen option. > Samsung is planning to use South Korea as a test market for its products - Samsung thought of this because Samsung is well known in the South Korean market for its phones that allows users to have excellent features which then has built a good relationship between the customer and the organization. Therefore the customers keeping in mind the previous record will buy the product which will then help the company to achieve the required goal. (Pearce II, Robinson, 2005: 21-3.) Keeping in mind the above dimensions will not only help the company achieve the objectives but also keeping in mind that the whole organization should be involved in strategic management then only the company can become successful and achieve its goals and it can be said that Samsung has a thriving and an active strategic management. http://www.samsung.com/AboutSAMSUNG/ELECTRONICSGLOBAL/DigitalVision/index.htm
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Here's what a teacher thought of this essay
There is some good insight into strategic management but some muddled thinking as well in places. The writer confuses strategy and implementing the plan. The evaluation of the company is too uncritical. No company plans to fail but many do, often because of following the wrong strategy but often because it is not implemented properly.
Marked by teacher Dennis Salter 01/05/2013
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