Business Environment of Samsung Company
Knowledge Of Management Technology
South Korean company, Samsung is one of the most popular organisations that sell electronic devices such as mobiles, laptops, iPads all over the world. Millions of people use electronic devices created by Samsung in different countries. In this report, CSR of this organisation is discussed. This is an effective technique of increasing number of customers that is developed by an organisation. If an organisation follows this method, it will help in increasing an organisation’s profit. Several internal and external aspects of Samsung are also thoroughly analysed. Therefore, SWOT analysis and PESTEL analysis of the organisation, Samsung are done. Other than these factors, Samsung’s technological aspects are also analysed in the study. If the organisation takes help of new technologies, it will provide Samsung competitive advantage.
Corporate social responsibility is an interesting concept that helps an organisation in increasing productivity and profitability of Samsung. Corporate social responsibility refers to a concept that states that in a work environment, employees should all live in harmony with each other properly. In the process of CSR, all the employees accept decisions of customers who wants to purchase their products. The organisation, Samsung concentrates on following different aspects of corporate social responsibility because its main purpose is to develop a strong relationship with customers.
Samsung concentrates on social contributions, supply chain and different aspects of environment and the customers who want to purchase their products. The organisation concentrates on various aspects of the environment such as creating eco-friendly products because it gives Samsung competitive advantage over other organisations. This strategy is highly effective because it attracts a huge number of customers. The organisation also tries to reduce the effect of greenhouse gases because environment becomes very harmful and polluted because of those gases.
In ‘Managing People for Organisational Success’ by Slemo D. Warigon, it is written that various types of organisations such as industrial organisations, business organisations, educational organisations are all made up of different people. Employees provide followership, stewardship, leadership in all types of organisations. Those people create strategies that help the organisation, Samsung in achieving goals and objectives. They constantly learn innovative and creative ideas in order to become great from mediocre people. All types of managers in an organisation develop strategies, control their subordinates, manage their works and guide them properly in order to contribute to the growth of the organisation, Samsung.
In the article named, Frameworks for Organizational Behaviour, by David A. Nadler, Michael L. Tushman and Nina G. Hatvany, it is mentioned that organisations should make a strategy for working effectively. Therefore, most of the organisations prefer using papers in order to make eco-friendly products that are a strategy in sustainable development. Organisations can recycle products with the help of this technique and it helps them in attracting consumers.
In the article named, Organizational behaviour and management thinking, by Sheila K. McGinnis, it is mentioned that the there should be well behaviour in the organisation between the management and the employees working in the organisation which helps the organisation to grow more big and achieve their desired goals and objectives. The organisation should gain a lot of profit in the market by achieving of their objectives.
In the article named, Introduction to Management and Leadership Concepts, by Kurt Darr, it is mentioned that the management should adopt the correct leadership styles so that it helps in the achievement of the desired missions of the organisation. It would also help the management to have a long term and good relation with the employees working in the organisation.
In the article named, The Concept of Organisation, by Egon Bitner, it is mentioned that the organisation is a place where the employees and the management work together and successfully achieve the long-term objectives of the organisation. Their policies, strategies and creative ideas ensure the fact that all operations run smoothly in the organisation and it becomes even more popular.
Corporate social responsibility is the ones in which organisation performs few tasks for the society for creating goodwill. Moreover, when organizations are following this then they are doing betterment for society. , there are different organizations’ they are participating in this task and in this manner, they are flourishing their business. For example, as it is known by everyone that Samsung is dealing with different electronic products if they are organizing a health camp for aged peoples then it will develop a positive mindset among different customers that this organisation are doing better work for society.
Additionally, Samsung is one of the largest organisation and they are dealing with different electronic goods. Moreover, their core products are telecommunication products and they are selling those goods in the market and while selling that they have earned a huge amount of revenue. They have gained revenue of $306 billion in 2014 and they have planned that they will try to boost their revenue margin (www.samsung.comUK, 2017). Additionally, the management team have designed few plans. Which is they have made an analysis that they will make a profit of 6% and they will increase their sales by 35% in 2016 and 17 and for this, they have taken different strategies?
Additionally, the market research team of this organisation are collecting different information from customers and they are giving their feedbacks. Moreover, the information that has been acquired by them with that information they will design their products. As customers will observe that they are getting the products according to their taste and preferences then automatically their sales will increase. This is the main mission of this organisation by applying this strategies they will do their task. Additionally, as this organisation is selling their products in different parts of the world and they are earning a huge profit. For this reason, Samsung can be considered one the largest profit-making organisation.
Botha et al. (2014, p.44) opined that there are few factors that are linked with the organisation and these factors are considered to be the external factors of an organisation. These external factors are discussed in this paragraph.
This some of the most important factors that are linked with the business. Menychtas et al. (2014, p.104) when an organisation is commencing their business then they have to follow different political factors. These political factors are, it is the responsibility of human resources managers to provide better environment to different employees who are working in organisation. Additionally, employees must not reveal their data to the third parties and at any cost.
There are different phases of the economy (Baesens et al. 2014, p.629).These phases are considered the economic recession, boom deflation and inflation. Additionally, the financial background of the organisation must be strong enough to face the economic challenges. Additionally, if they are not having a sound financial structure then they cannot cope up with the market scenario.
The main objective of the organisation is not to earn a profit (Shehu and Mahmood, 2014, p.101). When they are doing their business then they have to consider the society. If organisations are performing a certain task for society then a positive image will be created among the customers and this will give the organisation a better recognition among the peoples that this organisation is doing a better task for the society.
Technological factors are considered as one of the effective factors. If organisations are not having better technologies then they cannot produce the goods. Additionally, while using innovative technologies employees can produce goods of better manner. Moreover, this will make the organisation in competitive advantage. Additionally, this will assist in giving a tough competition to the competitors.
These factors are the ones in which organisation have to consider the environment. The organisation must not dispose of any harmful substances in the environment that can be dangerous for the environment. Additionally, while disposing of anything in an organisation they have to follow the acts that have been prescribed by the government of UK. On the other hand, if they fail to follow the rules and regulations then they will be penalised accordingly.
When Samsung is commencing business then there are few laws that need to be followed which can be the environment protection act, consumer protection act and many other acts. When customers observe that they are being misled by the organisation then they can file a suit against the organisation. Additionally, the owners have to pay the taxes to the government in proper time. Moreover, governments have also said that it will be the responsibility of organisations finance department to reflect the proper financial statement in their balance sheet and if they are not disclosing the facts then the government can take steps against that organisation.
There have been discussion different external factors among them technological factors have been selected for Samsung. Moreover, with innovative and upgraded technologies, employees can introduce new products in the market and this can increase their sale and profit margin. Additionally, few case studies have revealed that Samsung has applied latest technologies in manufacturing water resistant mobile phones. When these mobile phones have been launched then it had also attached mobile lovers towards it. As more customer’s base are increasing then there will be more profit margin.
Additionally, employees are collecting the feedbacks from customers. When they are engaged in this activities they are getting positive and negative feedbacks from employees. If they are getting positive feedbacks then they have designed their products in an innovative manner. Moreover, when negative feedbacks are collected then they have to find the alternative means.
Similarly, to sustain in the market organisation have to modify their products (Wild et al. 2014, p.44). As the taste of customers changing every day due to this, they have to add some new features in their products. If they are not modifying their products then competitors are there to capture the market. Additionally, customers desire is that they will avail those products that are having better facilities and at a reasonable price. Therefore, in this case, technology has to play an important role in retaining the customers.
Additionally, corporate social responsibility is the ones in which organisation performs few tasks for the society for creating goodwill. Moreover, when organisations are following this then they are doing betterment for society. Similarly, there are different organisations they are participating in this task and in this manner, they are flourishing their business. For example, as it is known by everyone that Samsung is dealing with different electronic products if they are organising a health camp for aged peoples then it will develop a positive mindset among different customers that this organisation are doing better work for society.
The corporate social responsibility is defined as something where all the environment, people, and society live in harmony with each other and coexist in a good manner with each other. The corporate social responsibility is defined as the process in which all the people accepts all the decisions of the consumers who are willing to buy all their products(Korschun et al. 2014, p. 33). The Samsung Company focuses on the following issues in CSR in building a strong relation with the customers who comes to buy the different products in the Samsung Company.
The Samsung Company focuses on the environmental aspects, supply chain, social contributions, and the people who are willing to buy their products. The Samsung company focuses on different environmental aspects like the producing more products which are eco-friendly in nature as compared to other companies. It helps to attract more customer s in comparison to other customers in other organizations. They maintain an eco- friendly design in making their products for the customers, The Samsung Company makes more use of the paper in making their products so that it helps them to recycle the products and the customer gets more attracted to buy their products. They also maintain products which provide more greenery to the environment.
The Samsung Company tries to reduce the greenhouse gasses that makes the environment very harmful and also helps the customers to buy their products. They reduced the greenhouse gasses to the extent of 24% and it helped to attract more customers to buy their products as compared to other organizations.
The Samsung company also focuses on the different supplier management process like improving the quality of their products continuously, upgrading the latest technologies according to the requirements of the customers to attract more customers to buy their products according to their needs. They also maintain a universal code of conduct which helps them to attract more customers and maintain an advantage over other companies. They also make social contributions and provide different types of contributions to the society. They provide educational programs; carry on hope for children programs for the different poor children in the society.
The Samsung Company also brings out products for the people and upgrades the technology of the products according to the needs of the people. They keep in mind the different diversity management procedures for the people in their products offered to the customers who want to buy their products. They develop a mission for the future which they want to follow in the future to keep an advantage over their rival competitors in the market.
The Samsung Company always gives a direction that is unique to the customers to attract the different customers in the market (Cheng et al. 2014, p.46). The Samsung Company always focuses on three things to always work hard for the organization, think innovatively and to maintain a uniform trust among all the employees in the organization. The Samsung Company always tries to maintain enough safety for all the employees working in the company. The employee's form an integral part of the organization.
The Samsung Company always tries to keep that in a mind and makes programs which are suitable for the employees working in the company. They have introduced an employee health management program where they have given the facilities of regular check up of the employees working in the Samsung Company. The doctors regularly check the health of the employees working in the Samsung Company. The Samsung Company has also developed a program for preventing the accidents that happen to the different employees working in the company. They regularly give training and monitor the workings of all the employees working in the Samsung Company. The Samsung Company also hires different health occupational risks experts that help the employees to complete their jobs and maintain the right safety of the employees.
The Samsung Company maintains a strong ethics in their company by maintaining a strong discipline within the employees working in the organization. The Samsung Company always maintains a uniform code of conduct in the organization so that it maintains an ethical advantage over other rival organizations in the market (Goodstein, 2016, p. 68). The code of conduct gives importance on the following features like maintaining fair and equal competition with all the employees working in the organization to attract more customers in the market. The Samsung Company also sees that the employees working do not engage in any political activities under the brand of the Samsung and it helps to increase their brand image to the customers. The Samsung Company always focuses on the co-existence and working together of the different employees as a team and finishes the different jobs which are assigned to them as a whole.
The Samsung Company also tries to maintain a clean structure for the organization so that it helps to maintain its dignity and integrity to the employees working in the organization as a whole and attract more customers. The Samsung Company also introduces an audit committee to continuously review and monitor the performance of all the employees working in the organization as a whole. The committee focuses on different financial aspects of the organization, the workings of the different tasks assigned to the employees from the top to the bottom management. The audit team is controlled by a team of specialists working in the Samsung Company who can correctly monitor the workings of all the employees working in the organization (Slade, 2013, p. 79). The audit team is responsible for maintaining a clean image of the Samsung Company to the different customers in the market.
The Samsung Company maintains a rich organizational culture within their organization to maintain a long term relation with all those who are involved in the workings of the organization from top to bottom. The development of the organizational culture would help the Samsung organization to become more dynamic and flexible as compared to other organizations in the market. The Samsung Company focuses on the correct balancing of the work and all the other activities of the organization which helps them to increase their profits and maintain a long-term relationship with the different customers in the society.
The Samsung Company always makes suitable usage of the time so that the goals of the organization are achieved more quickly as compared to other organizations in the market (Carlos et al. 2014, p.90). The correct time management of the employees working in the Samsung Company will enable to maintain a good relation of all the employees and the top managers in the company. It will also help to increase the overall productivity of the Samsung Company. The Samsung Company also develops an innovative work culture within the organization that increases the learning of the different employees working in the organization.
The Samsung Company has developed an innovative creative development program me for the different employees working in the organization. It helps the employees to develop new ideas about the fulfillment of the jobs that are given to them in the organization. The Samsung Company also provides the necessary equipment that is necessary for successfully completing the different ideas related to completion of the ideas within the Samsung Company. This type of innovative program helps the employees to learn new ideas about the workings of the organization.
The Samsung Company always maintains an environment which helps all the employees and all the members of the organization to work together in harmony and flourish together to complete their jobs within time (Williams et al. 2015, p. 95). The increasing of the workings of the female employees in the Samsung Company also promotes them and creates an advantage over the rival competitors in the market. It helps to develop a pleasant working condition for all the employees working in the Samsung Company so that more female employees are attracted to work in the Samsung Company. They provide different types of facilities to the female employees working in the company like giving parental; leave and also gives different types of leaves according to their requirements and needs.
The Samsung Company also maintains a global diversity among the employees working in the company. They give emphasis on the encouragement of the different creativity on the workings of the employees within the organization and also helps to better the performance of the individual employees working in the company. The Samsung Company continuously focuses on the up gradation of their technologies of the different products offered to the different customers in the market (Huhtala et al. 2013, p. 99). It helps to maintain and increase the coordination among the different employees working in the Samsung Company.
In this study, a detailed introduction is given about the different workings that are carried out in the study about the business environment in the Samsung Company. The mission and vision of the Samsung Company are also discussed in elaborately in the following study. The different factors which are present in the Samsung Company like the technological, environmental factors are also discussed in elaborate. The importance of the factor on the Samsung Company is also discussed in details. The CSR and ethical considerations of the Samsung Company are also described in details. The aspects of the organizational culture of the Samsung Company are also discussed in details to understand the effect of organizational culture on the Samsung Company.
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