|Type of paper:
|Samsung International business
A global company is a firm that conducts its business in more than one country outside where it was founded. Many companies have tried to expand outside their country of origin but not all have been successful. To become a global company means that a firm must introduce its products to the country(s) of interest and the people of the country have to appreciate and start purchasing those products. This calls for a great effort in terms of research, assets, and human resource but if the firm has a good strategy, it can become a global leader in its line of production. Several companies around the world have gone beyond their country of origin becoming global leading firms with a great reputation from every corner of the world. One such company is Samsung. This report will highlight the industry that Samsung belongs in, its products, its home country or corporate headquarters, its culture in comparison to Hofstede's dimensions, its global recruitment, and selection process and its approach to growth or decline of business.
Description of the Company and its Industry
Samsung Group commonly referred to as just Samsung is an electronics company founded in South Korea by Byung Chull Lee only to become the biggest electronic producer in the entire Asian continent. The company history highlights its struggles and determination to become successful in every venture it undertook. On a global scale, the company started by exporting foods such as flour and dried fish to China and during the Korean war, the company started providing insurance and manufacturing textile (Song and Lee 2). It was not until 1969 when the company started venturing into the electronic industry assisted by Sanyo as many people know it today. Venturing into electronics was a breakthrough for the company in terms of global scale and from 1971, the company has been selling various home use electronics and in the process gathering a strong reputation due to the delivery of quality products. The company is one of the leaders in the smartphone industry with the biggest competitor being Apple Inc. the company is also much success in the electronic industry offering a variety of products (Marchenko 6). The three major industry sector that Samsung belongs in are consumer electronics, home appliances, and semiconductors.
Samsung Product and Services
Samsung has been manufacturing a wide variety of products since its inception. Samsung is a global leader when it comes to the production of LCD and LED panels. Since 2004, the company has had the largest revenue from the "active-matrix organic light-emitting diode AMOLED" market with thousands of patents across the world. Over the years, Samsung has been continued to venture in the mobile phones industry and though there has been stiff competition from Apple, the company has enjoyed a significant share of the market with 20.9 % share as of 2018 ("Networks Services | Samsung Business Global"). One of its bestselling smartphone and one with the most advanced technology is the Samsung Galaxy S produced under different variations. Samsung has also been producing semiconductors and as of 2018, the company had produced the LPDDR5 DRAM module ("Networks Services | Samsung Business Global"). The firm does also produce televisions and usually sells millions enabling it has a significant share of the world market. Other products include digital cinema, printers, laptops, digital cameras, storage media products, and an MP3 player among others. The company also offers cabling service, network deployment, and security solution.
Samsung Home Country and Headquarters
Samsung is also known as formally known as Samsung Group and its country of is South Korea from the Asian continent. Its headquarters are in Yeongtong District, Suwon in South Korea in their famous Samsung digital city (Song and Lee 3). The company's ownership is circular with different shareholders from South Korea and across the world. The company has other headquarters across the world such as in the United States, United Kingdom, and many other nations. Additionally, the company has managed to build thousands of retail stores all over the world and has entered into a partnership with numerous retailers and dealers in its quest to dominate the world in the products it provides.
Samsung Comparison to Hofstede's Dimensions
Hofstede's cultural dimensions describe "the collective programming of the mind which distinguishes the members of one group or category of people from another" (Hofstede 19). Hofstede developed six cultural dimensions to explain his theory, they are; masculinity, individualism, power distance, uncertainty avoidance, long-term orientation, and indulgence (Brewster 106). A country usually plays a significant role in shaping the culture and running of the business and since Samsung traces its roots in South Korea, it's running of the business is influenced by this nation. When it comes to power distance, Samsung can be said to be a hierarchical company where the employees have a specific role and they follow what their leaders denote ("Country Comparison - Hofstede Insights"). When it comes to individualism, the company has a culture of loyalty where they live as a family and relationships are very important. On the dimension of masculinity, Samsung believes in everyone and their leadership gives everybody an opportunity to lead so long as display competence. Samsung has a high uncertainty avoidance where security is taken seriously and precision and punctuality among all employee is fundamental. Long-term orientation is a key is for Samsung where since its origin, the company has been considering how best to improve its future.
Samsung's Global Recruitment and Selection Process
Samsung global recruitment and selection process is a key task that the company takes seriously and its human resource management is required to come up with an appropriate strategy that will ensure correct and the right workforce are hired. Samsung being a large firm requires extensive management to manage its resources and business operation and is always looking the most passionate individuals to join the company at different levels. The recruitment procedure for a new employee requires one to apply online, the documents then undergo screening, the applicant takes the aptitude test, interview, physical examination, and the final selection is done ("SAMSUNG Trading & Investment").
Samsung's Approach to Growth or Decline of Business
Samsung has undergone numerous up and downs since its inception. However, its approach to growth or decline of business compared to the global business world is what makes it stand out when compared with other companies. One of key success area of Samsung is the sale of smartphones, however, the company has faced increased competition from its biggest competitor that is apple and also other phone making companies (Kovach 3). In response to such challenges, the company always tries to diversify and make its products more attractive for instance by the launch of Samsung Galaxy S that is more updated and filled with the latest feature. Furthermore, Samsung has a diversified product production ranging from consumer electronics, home appliances to semiconductors and this makes it have a balance when one sector is down, the other one might be more successful.
Why Samsung Is Perfect Global Organization
Samsung is one of the best technology companies in the world and I certainly would love to join the firm mainly because of ambition and commitment to providing quality products. Samsung is a company that believes in innovation and is much committed to being the leader in different industries it belongs in and this is what I like about the company. From the analysis of Samsung as a company, I have learned that global human resource management is key for any business considering venturing in the global business. The management of the workforce and having an innovation-oriented business culture is has made Samsung grow despite facing constant competition
In conclusion, Samsung Electronics Co., Ltd is a true definition of what a global company looks like. The company founded in South Korea has grown to become one of the best consumer electronics, home appliances, and semiconductors producer and seller in the entire universe. The company has diversified products such as smartphones, memory devices, and television among many others. Its organization culture, global recruitment, and selection process has made it stand out even when it faces up and downs. By being an innovation-oriented company, Samsung remains one of the key electronics companies in the world.
"Country Comparison - Hofstede Insights." Hofstede Insights. N.p., 2018. Web. 9 Oct. 2018.
"Networks Services | Samsung Business Global." Samsung global_nw. N.p., 2018. Web. 9 Oct. 2018.
"SAMSUNG Trading & Investment." Trading.samsungcnt.com. N.p., 2018. Web. 9 Oct. 2018.
Brewster, Chris, Chul Chung, and Paul Sparrow. Globalizing human resource management. Routledge, 2016.Hofstede, G. "Hofstede's Cultural Dimensions: Understanding Workplace Values Around the World." Mind Tools Ltd (2014).
Kovach, Steve. "How Samsung Won And Then Lost The Smartphone War." Business Insider. N.p., 2018. Web. 9 Oct. 2018.
Marchenko, A. "Corporate culture of Samsung: lessons to learn." (2017).
Song, Chae-yong, and Kyungmook Lee. The Samsung way: Transformational management strategies from the world leader in innovation and design. New York: McGraw-Hill Education, 2014.
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