Since Samsung is aiming to be a world leading company it share certain Samsung values of “People, Excellence, Change, Integrity, Co-prosperity” and the seven important factors a world leading company should have i.e. “Dream, Vision & Goal, Creativity & Challenge, Insight & Good Sense, Technology & Information, Trust & Credibility, Speed & Velocity, Change & Innovation”
Samsung is seen clearly working on the different dimensions of strategic management which are as follows:
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Identifying – the company’s mission, its purpose and goals.
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Selecting – long term objectives that will achieve the above mentioned goals.
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Choosing – the best objective which will make the path of achieving the purposes and goals easy and
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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) (Samsung’s Digital World – Electronics Initiatives, Digital Vision, 2006). Therefore this clearly mentions the purposes and goals that Samsung want to achieve.
Selecting
This dimension is all about selection of various alternatives that will help the organization to achieve the goals. Some alternatives that Samsung is trying to use are as follows:
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Samsung is planning to use South Korea as a test market for its products. (Pearce II, Robinson, 2005: 21-3.)
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Samsung is trying to customize it products as much as possible. (Pearce II, Robinson, 2005: 21-3.)
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Samsung has speed up the process of new product concept in the market. (Pearce II, Robinson, 2005: 21-3.)
These are the some alternatives that would help the company to build a strong relationship between the customers and them.
Choosing
This is the stage where the company will have to select the best alternative mentioned above. In this stage company will have to meet the criteria such as their available resources that will meet its demand and hence help them achieving their proposed goals and objectives.
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.
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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.
