Strategic Profile of Samsung Electronics Co

Strategic Profile of Samsung Electronics Co.

Samsung’s Strategy Summed Up Briefly:

Samsung Electronics devoted to innovation and making life simpler for people. Even though the mobile industry is competitive, Samsung has made an impression to the world and plans become a leader in the industry. With continuing growth and outstanding performance it is proof Samsung is doing something right.

Mission

Samsung’s mission is to “Inspire the World, Create the Future”, (Samsung, 2013) dedicating the business to new technology and innovations. With continuous research, forecasting, and analyzing customer trends the company has valued itself to provide the best products to change the world and create the future. By providing high quality products and continuous innovation Samsung caters to the needs of its customers, therefore making their lives easier.

Vision

Samsung established what is known as the “2020 vision”, the 2020 vision it essentially means Samsung has established goals to be reached by 2020. The company wants to be recognized as one of the world’s top brands and become leader in future technological industries. Also a financial goal, the company plans to reach 400 billion U.S. dollars by 2020. With this vision in mind Samsung states it wants to devote the talents of the company and its technology creating products and services to make the global society better. (Samsung, 2013)

Values

In Samsung’s corporate profile, the company clearly states a set of values that it follows. Starting with the companies dedication to its employees, by providing them the benefits and resources they need so they can complete the tasks at hand, as well as bring out the potential that each employee has. Next, Samsung values providing excellent products and services to its customers which incorporate the changes in the industry. For that reason, Samsung acknowledges the rapid changes in the electronics industry and values these changes to make better products to serve the customer. While creating new products and services, Samsung also values morals and integrity therefore the company’s activity is transparent. The business is run ethically and with respect to all stakeholders. Lastly, Samsung values social and environmental issues, by establish foundations to raise money for charity and create environmental awareness. All these components is what Samsung described as their core values, as displayed on chart one from Samsung’s corporate website. (Samsung Electronics, 2013)

Business Model

Samsung Electronics can be placed into two different business models. One is a broad differentiation strategy