Management Journey of Samsung Electronics Company - Research Paper Example

The paper “Management Journey of Samsung Electronics Company” is a well-turned variant of the research paper on management. The study focused on the management journey that Samsung Electronics has made in the electronic industry that has led to its success. The objectives of the study, therefore, were to evaluate the impact of Yun in changing the company, to analyze the criteria the company has used to dominate the industry, and to evaluate Samsung as a learning organization in the business environment. The study relied on primary and secondary data and information to achieve the objectives. It used a literature review as a source of secondary information and data and a single-case design method to obtain primary data from the participants who were selected from Samsung company. The Study found out that Yun brought innovative culture in the company that completely transformed it, as the company was able to come up with many innovations during its tenure. Innovation, therefore, has been the strategy that has given Samsung a competitive advantage in the market. The Study recommended that organizations should invest in research and development to boost innovation and creativity.

Introduction
Innovation has become one of the fundamental aspects that have played a significant role in influencing the industrial and economic development of various economies and industries across the world (Sánchez et al., 2011). The primary goal of any government in the 21st century is to improve the innovation capabilities of various industries in order to improve the quality of goods and services that they offer. Therefore, innovation has become a long-term agenda to ensure the sustainability of various companies in the world. Consequently, innovation has become a very important aspect in various companies for them to secure their sustainability and to gain a competitive advantage in their respective markets.

There is a close relationship between a company’s competitive advantage in the market and the innovation that it undertakes. According to the concept of strategic adaptation, the strategy is a dynamic process that requires adaptation to be the primary aspect that is required to attain a competitive advantage and sustainability of a company in both the private and public sectors (Sánchez et al., 2011).