Samsung Portfolio analysis
Samsung is among the leading electronic companies in the world, and its products include cell phones, cameras, televisions, refrigeration equipment, and other forms of electronic devices. Samsung Group is a multinational conglomerate company from South Korea with its headquarters based in the town of Samsung, Seoul. The company consists of a number of subsidiaries and businesses that are affiliated with most of them being united under the brand name of Samsung.
It is the largest company in South Korea and contributes significantly to the economy of the country. Industrial subsidiaries of Samsung include the Samsung Electronics, Samsung Heavy Industries, and Samsung Engineering. Others include the Samsung Life Insurance, Samsung Everland, Samsung Techwin etc. this essay paper will conduct a portfolio analysis of the Samsung Group. It will analytically look at the strengths and weaknesses of the company, the external and internal environment of the company.
The Republic of Korea has what is known as a high context culture. Consequently, messages are comprehended on the basis of the full context of the relationship between the communicators. This has obvious implications on the business, as there is a need for social etiquette as well as a formality in official circumstances such as business meetings. Conveying a message involves observance of unofficial rules as though they were written. All companies that intend to carry out business in partnership with Samsung or employees who are non-Koreans who wish to work for Samsung in South Korea have to consider this.
In Korea, gender roles are still traditionally differentiated and as such women do not find many positions in government and business employment opportunities except in the western nations. This factor places implications on human resource management by Samsung. Women from foreign countries who work in the country are subject to such socially constructed values which have often been criticized by Americans. Recommendations are made that the company try its best to factor in all social-cultural practices in the management of the labour force while trying to keep all rules of business ethics.
Korea’s present legal system is said to have been laid out by the Japanese occupation during the 20th Century first part. As such, just like Japan, South Korea follows the commercial and civil codes of Continental Europe. Civil codes of Korea are consist of general legal principles that require lengthy interpretation by the courts unlike the system of the case law in the United States common law practice. As some American scholars point out, interpretation of Korean law has very little predictability. Samsung, being located in South Korea, is subject to these codes. In this kind of environment, lawsuits are expected to be resolved outside the courts. In Korea, lawyers are peacemakers and seek to promote harmony rather than advocates. This shows that Samsung enjoys a favourable legal environment.
There have been consistent trends towards liberalization and greater democracy. It is said that the Korean government has consistently been strongly influencing business culture in the country. It is reported that from as long as the 1960s, the government of Korea has been formulating plans to encourage the development of businesses and nurturing their survival through special aid. This shows that there is a commitment by the government to uphold a culture of doing business in Korea.
In the reign of President Chun Doo- Hwan and Park Chun Hee, business environment were further promoted by policies like tax relief, subsidies and protective tariffs. This is largely attributed to being one of the factors behind the expansion of Samsung. The government, after the great crisis, forced the chaebols to undertake financial restructuring of the industry and emphasize on core business. This shows that the government has total support for businesses and so is Samsung.
Among the chaebols in Korea is the LG Company which, just like Samsung, manufactures electronic facilities with a worldwide market. Although Samsung has been coming up with innovative strategies to maintain their competitive edge like manufacturing smartphones, great competition is being experienced especially from Chinese electronics which are relatively cheaper. Other companies like Nokia and Motorola also influence the market share. It is therefore recommended that Samsung Group should keep conducting a market survey and maintain technological innovation so as to remain relevant in the market.
Marketing and publicity
Samsung has been undertaking massive publicity campaigns. For instance, it is the sponsor of the Chelsea Football Club in England. This not only serves to publicise the company but also adds value to the society since such sponsorship is taken as part of the company’s social responsibility. Samsung products have been in the market for long and this adds to the strength of marketing.
Progress of the Samsung Company in the past adds to its advantages in the market share. The company plays a big role in the economy, cultural politics and media. It is recognized to have been the driving force behind many economic developments in South Korea, with its subsidiaries producing around one-fifth of the country’s total exports. The progress of the company in the past is important since it gives it confidence in more expansion strategies. The progress has positively impacted the country’s economy with 17 per cent of her GDP being revenue contributions by Samsung. The flourish has also earned positive image from the lenders and therefore the company stand a better chance to obtain capital in terms of debt or stock.
Samsung Group operations involve a number of affiliate companies with strategies in place to acquire more others. Currently, there are over eighty of them in total with the electronics one being the recent largest contributor of revenues. Activities include electronics, construction, shipbuilding, financial services and medical services all of which have provided job employment to over 39600 people. Operating such a diversified nature of the market is usually risk and great managerial skill is necessary. A BCG Growth-Share Matrix for some of the significant affiliate businesses is shown below:
Recently, Samsung Electronics became the most selling in the world and overtook Nokia. Devices like cell phones have taken considerably largest market share and outdoing other companies that had domineered the market. It is recommended that more financing be done to keep innovation thigh. Research should be conducted on the chemical industries and more marketing and publicity need to be done.
Samsung Company survived the great economic crisis that affected Asia and has been doing so well amongst the chaebols in South Korea. This essay paper has outlined various strengths and weaknesses which are largely determined by the external and internal environment of the company. Recommendations have also been given where necessary as to what ought to be done.
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