Multinational Companies - Essay Example

Multinational Companies In my analysis of General Electric, an American based Multinational Corporation and Samsung, a South Korean based Multinational Corporation, I found quite a few similarities as well as differences between the two giant companies. A noticeable similarity between the two companies is that both give high importance to their employees. Both the companies place high value in their people. As stated in (Samsung, 2012), a company is its people. This shows the significance which the Korean based company attaches with its people.

Similarly, according to (GE, 2012), GE’s people are its greatest asset. This highlights the worth of employees in GE. The two companies equally believe in being socially, ethically as well as environmentally responsible and accept their duty towards the society, making every effort on their part, to come up with safe products which contribute towards creating prosperity and opportunity for the global citizens. It is not unusual to find out that customers are considered to be the most valued stakeholder by both the companies.

Samsung as well as GE strive to deliver first-rate products and services to their customers, while focusing on integrity and excellence simultaneously. Another vital similarity that exists between the companies is with regard to innovation and change. Samsung, with its innovative products ranging from camcorders to refrigerators, considers innovation to be extremely critical for a company’s survival in today’s fast-paced world. On the other hand, GE too, with its vast array of innovations in light bulbs to aircraft engines, has always believed in innovation to be a major factor for a company’s growth.

Apart from the similarities, there exist certain definite differences between the two Multinational Corporations. Though both the companies believe in workforce diversity and in hiring the best talent from across the world, GE is more all-encompassing in its view on diversity. GE not only believes in diversity on the basis of nationalities but it also considers diversity on the basis of class, gender, race and community as equally important. As stated in (GE, 2012), GE commits itself to support the Gay, Lesbian, Bisexual and Transgender communities.

Similarly, it has forums to provide coaching and mentoring to Asians, Africans, Hispanics, women and small minorities. However, Samsung’s definition of diversity is not a wide-ranging one. This highlights a cultural difference as well, with GE depicting a typical open-minded Western culture and Samsung, representative of conventional Eastern culture. A further difference is found in the working environment of the two companies. While Samsung, as mentioned in (“Samsung”, 2012), follows a rather explicit code of conduct for its employees, with focus on specificity and precision, GE commits itself to work-life balance.

By offering flexible work arrangements along with other programs and resources such as family counselling, GE encourages its employees to maintain stability in their work as well as their personal lives. Though these differences, which mainly arise due to cultural nuances, have become an integral part of these two companies; yet, it has to be acknowledged that both the companies are colossally triumphant in their respective domains with their respective measures of practices. ReferencesGE.(2012) Our Culture. (2012). Retrieved January 14, 2012 from: http://www.ge.com/company/culture/index.

htmlSamsung.(2012). Values and Philosophy. (2012). Retrieved January 14, 2012 from: http://www.samsung.com/us/aboutsamsung/corporateprofile/valuesphilosophy.html