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Strategic management - Essay Example

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Name: Tutor: Course: Date: University: Strategic Management: Samsung Electronics Company Introduction Strategic management refers to the decisions made by the general manager in an organization on behalf of the owner to increase performance in operations. It analyzes key initiatives, which are taken by the top management on behalf of the owners, and entails specifying objectives, mission and vision, after which the resources are allocated to enhance implementation of the policies, programs and projects…
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Download file to see previous pages They are accountable for the success of the organization. For instance, managers offer objectives and vision of the managerial goal, and plan to execute the goals. Strategic managers are also in charge of plans and policies of an organization (Expansion Management, 2009). Any organization should have the strategic management branch, which sets up mission for the company. Managerial activity encompasses information about the organization and functioning. Strategic management is a particularly crucial responsibility accomplished mostly by a single individual, and in most cases, the future success of an organization depends on the strategic management. The strategic management process is based on the transformation of working process of where the organization is at presently, and where it wants to be after some time. Transformation process is based on the people within the business, and should be by two way process where every person in the business is involved in executing the set goals and objectives (Samsung, 2009). Samsung Electronics is a multinational electronics company in South Korea with its headquarters at Suwon. The company is a flagship subsidiary of the Samsung group, which forms the largest information technology company in the world with the highest revenue. The company was established in 1969 for manufacturing of black and white television sets, 5-business decisions, and Dynamic Random Access Memory (DRAM). Samsung electronics has sales network and assembly plants in 61 countries worldwide with 221,000 employees. The company forms the largest mobile phone company in the world by unit sales in 2011. The company has the highest world market share in memory chip and has an established position in the tablet market (Samsung, 2009). Strategic management in Samsung Electronics The past few years in Samsung Electronics have been an immense advancement with different technologies taking the limelight like the liquid crystal display over cathode ray tube (Chiu et al. 2006, p. 143-165). In this paper, the strategies employed the liquid crystal display (LCD) and the dynamic random access memory (DRAM) are analyzed (Samsung, 2009). Samsung Electronics in LCD market Lee Kun-hee changed the strategy in Samsung group in 1993 from the imitating cost-leader to differentiator role through concentrating and downsizing the engineering, electronics and chemical industries. In 1995, the company had already developed the LCD technology and achieved considerable market. Since then, the company has achieved a flagship with the revenues increasing consistently over the years. The company has the highest global share in LCD (Moon, 2009). The strategic management in LCD is applicable to both internal and external environments, which are further subdivided into sections. External Environment in Samsung Electronics Company (LCD) External environment encompasses both the industry and the environments that are used in assessing the strategic position of the Samsung Electronics Company. The macro environment entails all the external factors that affect planning and performance in the company. These include the social factors, technological factors, political factors, economic factors, environmental factors and legal ...Download file to see next pagesRead More
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