that innovation (Nisen, 2013). Besides, Samsung has the innate ability to manufacture products at the speed of lighting, distinguishing itself from its rivals such as Apple. This is due to Samsung's use of market research along with the pursuit of innovation. Strategies utilized by Samsung to promote its products have been some of the most proficient and productive strategies initiated, not to mention cost-effective. The strategies in place have helped Samsung ( a cost-driven company) shift its organizational anatomy while enabling Samsung’s emergence/dominance as an authority manufacturer. Adapting its business strategy to gain market share and the upper hand. Furthermore, becoming a legitimate competitor, raising
C A P S T O N E P A P E R A N D P O W E R P O I N T P R E S E N T A T I O N | 6 the eye industry rivals. The intensive growth strategies along with Samsung’s generic strategy continue to shoot for technological metamorphosis, a necessary component needed to maintain a competitive advantage. I. Strategic Vision/Business Strategy According to its website, Samsung’s strategic vision is simple, "Inspire the World, Create the Future" (2019). Well, how exactly is Samsung able to accomplish this task? Easily, Samsung was able to accomplish this task through the organization’s commitment to, create a better world full of richer digital experiences, through innovative technology and products (Samsung, 2019). Hence the Vision 2020 Initiative, the hope of this vision is for Samsung to further establish itself as a respectable and beloved brand while enhancing innovation and the pursuit of the "next big thing” while remaining an organization which is admired. Dedicating their strategic aims in enhancing innovative and creative effort while producing shared value for its partners. Delivering the world’s bests services and products through innovation and passion for maximum operation. Samsung’s strategic objective of developing products that inspire the world is engrained into the soul of the organization. This aspect of inspiration demands that Samsung examine the market conditions regionally and locally to ensure the organization meets its aim of inspiring the many despite differences within societal settings. More so, Samsung’s corporate vision aims to propel innovation to the next level. This push for elevation can be seen through its product line, just take a look at Samsung’s smartphones and laptop technology. Furthermore, Samsung’s Vision 2020 demonstrate the strategic corporate social responsibility attempt(s) by Samsung to improve the organization as a whole. To become more socially responsible and enhance
C A P S T O N E P A P E R A N D P O W E R P O I N T P R E S E N T A T I O N | 7 sustainability, enhancing the lives of others while promoting social prosperity. The corporate vision and philosophy of Samsung go to show that Samsung views itself as a significant contributor in improving the world through products which add value to human lives and society such as semiconductors and consumer electronics.
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- Fall '19
- Gary Reinke
- Samsung Electronics, Samsung Group