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Transcript of samsung
Samsung is a kind of private ownership, therefore the system is actually one of the biggest reasons leading Samsung to success. Samsung is a multinational corporation which is a business that conducts business in several different countries while granted legal status with rights, privileges, and liabilities that are distinct from those of the people who work for the business. Small portions of corporate ownership that are owned publicly are called stocks or shares. Individuals who own shares of a corporation are called shareholders and become owners of the business. Shareholders have limited liability. A board of directors runs a corporation that is owned by shareholders. And Samsung's present board of directors is Oh-Hyun Kwon. and the benefits of international trades are: • easier accessing to markets
• able to employing cheaper labours
• increases quality of goods
• increases quantity of goods for sales
• easier accessing to resources Samsung is having a international business ... and the disadvantages of international business are: • need to pay attention on the social costs included offshore outsourcing, human rights or labour abuses, and environmental degradation.
• many barrels including: tariffs, non-tariff Barriers, Costs of Importing and Exporting, Excise Taxes, and Currency Fluctuations 5Ps relationships with Galaxy S2 Product Price Proximity Preference Promotion S2 is a smartphone, and the world demands smartphone. So S2 is a good product for international trades. Some parts of S2 were produced in China and India to reduces costs. Also, by comparing to the other smartphones such as iPhone, S2 is cheaper, so S2 is profitable and popular to the world. Because of the Proximity, S2 immediately attracts many people living in Asia after it has been made. Samsung is a company that has their reputation for smartphones and electronic devices, this also favor the sales of S2. S2 was promoted in different places for examples through the internet, the news paper, and television advertisements. That makes S2 easier to be sold in different places. Korea imports many thing for Samsung from different countries every years, which includes raw materials, processed materials, supplies, and semi-finished goods, Meanwhile, Samsung exports many of its own products through Korea to different places every years such as Smartphones (Galaxy S2), television, computers, and laptops. Factors of production There are six main factors for the production of Galaxy S2 which are: natural resources, raw materials, labour, capital, information, and management. Natural resources There are six main kind of natural resources: agriculture, fishing and trapping, mining, water, fuel and energy, logging and forestry.
And for producing Galaxy S2, fuel and energy is the most important type of resource that would be used. Raw Materials Raw materials are any goods used in the manufacturing of other goods. There are two main types of raw materials: ingredients and supplies. For Galaxy S2, things like monitors, electronic broads, CPUs would be the main types of raw materials. Labour Labour means people who work for producing goods and services both physically and mentally.
In 2011, Samsung had about 344,000 labours in Canada. Capital Capital is the money invested in the business and is often referred to as monetary capital.
In 2011, Smsung Canada had around $343.7 assets. Information Management To produce Galaxy S2 in a competitive global market, Samsung require a lot of information about new technology, customers, competition, political conditions, and sources of supply. Management consists of the people who run the business and control or direct the factors of production. Management also allocates Samsung's resources and makes decisions that affect the day-to-day and
long-term operations of the Samsung. For Samsung, Oh-Hyun Kwon is the present CEO who is the biggest manager of Samsung. Production process There are four stages of the production process of Galaxy S2 which are: purchasing, grading, processing, and quality control.
For Galaxy S2, Samsung purchase the raw materials, then process them into the actual product, and then conduct the quality control, as well as at last grading the final product. Productivity Samsung mainly did four things to improve its productivity: provide training, capital investment, investment in technology, and new inventory systems.
For example, Samsung introduced " The ORDAGO’s Telecommunications Solution" which Increased sales productivity. In order to be more successful, Samsung' management had decided how to use human, financial, material and other resources. The four main functions of management are planning, organizing, leading, and controlling.
Meanwhile Samsung is having a very effective managing system, the major directions of those four main functions are mainly decided by Oh-Hyun Kwon the Vice Chairman & CEO of Samsung as well as Samsung's Board of Directors. Management Leadership style The style of leadership used is depended on the situation and the manager’s personality. There are three leadership style: autocratic, Laissez-faire, and democratic. Samsung has mostly democratic leaders in he company who encourage Samsung's employees to express their ideas in the decision-making process and it also recognizes employees’ accomplishments and develop team spirit. 4Ps and 2Cs of marketing The 4Ps of marketing stands for: Product, Price, Place, and Promotion. All of those 4Ps should be contained in a marketing campaign in order to make it works properly. Using Galaxy S2 as an example, to make a good marketing campaign, Samsung focused on the quality and the design for the "product" part; set as a reasonable price; sold it through both direct, indirect and special channels; as well as promote it by many ways such as television, internet, and news papers.
The 2Cs stands for: Competitive and Consumer market. For Galaxy S2, the major competitor would be Apple's IPhone series. So to improve S2's competitiveness, Samsung did a lot of consumer markets' researches through Demographic and Life style (Psychographics) before they actually design the S2. Forms of media Samsung advertised many products through different kinds of media. For print advertising, Samsung usually use news paper advertising and magazine advertising, which is normally cheaper ways to advertise. Samsung also used television and radio advertising a lot and those ways enable the advertisement to reach many audiences. At last, Samsung used the internet to advertise its product many because this way is cheaper, flexible, and has a large market. Accounting and financial statements according to Samsung 2011's financial report in Canada... income statement Balance sheet Net Sales= $220.1
Net Income= $21.2 Total Assets= $343.7
Total Liabilities= $202.6
Total Stockholder's Equity= $160,693.5 [*Amounts in billions] Finance Investment For investment, Samsung is a public company that it issued shares on the stock market. In another words, that means all people can become a shareholder of Samsung, they can literally own a portion of the company, even though it could be a tiny portion. One of the biggest stock Samsung issued is Samsung Elec Co Ltd N-Vtg (SSNLF), recently its price is struggling between $1200 to $1400. Entrepreneurship and Business Ethics Characteristics/ Skills of Entrepreneurs Entrepreneurs are business people who are risk-takers and problem-solvers.They are aware of chances in the marketplace and take advantage of these in their businesses. One of the entrepreneurs in Samsung is Lee Kun-hee. To build a massive corporation like Samsung, Lee Kun-hee needs to be capable, creative, and having self-confidenceas well as management skills. Corporate Social Responsibility A company's success is measured not only by its business achievements, but also by how well it serves its community, protects our planet's resources, and makes a difference in people's lives. Samsung embraces its responsibility to contribute as a good citizen, taking action around the world to foster a better society, protect and improve the environment, and strengthen our communities. Samsung has done a lot to contribute to this area...
For examples, Samsung apply the same innovation, technology and resources that have driven its commercial success to advancing the education and health of children around the world through our global citizenship program, Samsung Hope for Children.
Moreover, Samsung has made canine companionship, assistance, and welfare a cornerstone of its citizenship efforts. From Korea's first guide dog school, which helps visually-impaired people in the workplace and at home, to a dog adoption programme for employees, Samsung advances the idea that the relationship between people and pets - especially dogs - can bring caring and calm to our fast-paced world. Innovation vs Invention A smart phone is an invention which is a product or process that does something that has never been done before.
But as a brand new model of smart phone, Galaxy S2 is an innovation that it used new technology and materials to improve the function, flexibility and convenience of smart phones. Product life cycle Every product has a life cycle... And right now Galaxy S2 is on the decline stage because it is not the newest nor the best product of Samsung anymore.
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"TMX Group." Stock Market Quotes. N.p., n.d. Web. 17 Jan. 2013. Works Cited The End thank you for reading