Introduction
Samsung has been in the telecommunication business since 1977, but it was in 1993 that the company changes its shift from the cost saving approach to providing unique featured products. It was then in 1994 that the company started creating and ruling the mobile phone market globally. Since then the company has been doing various efforts to maintain the strong hold within the market despite of immense competition from giants like Apple.
Strategy
Samsung Mission
Samsung as a sole mission as an organization which is adapted for all its division which is to allocate the resources and the capabilities that it has in order to create world class products and services which contributes towards making a better society. The company aims at enriching consumer’s life and giving back to the society in a socially awakened manner in order to create a viable future.
Strategic Goals
The company has divided its strategic goals into two areas which is then replicated for all its business divisions including telecom. (Vision 2020, n.d.)
Quantitative Strategic Goal: The Company aims at becoming a $400 billion revenue generator and the market leader in the global IT market. Along with this the company also eyes at being among the global top 5 companies.
Qualitative strategic Goal: With high financial ambitions, the company also aims at creating a culture which nurtures innovative thinking and creativity. Since human resource is at the heart of Samsung’s culture, so the company wishes to become the best employer so that they can attract the best global talent. (Nisen, 2013)
Social Responsibility
Samsung is a socially responsible organization which acknowledges this duty in its mission statement. Various programs that the organization has been initiating globally some of which includes the following:
Hope for children: This program aims at providing better health and education facilities for the underprivileged children around the world. The company involves all its employees in this initiative in order to ensure everyone plays there part towards the society.
Samsung Solve for Tomorrow: This initiative aims at providing solutions for the pressing issues around the world.
Samsung Nanung Village provides basic infrastructure to the disadvantaged people around the world.
Employee donations and volunteering: All the Samsung employees have to offer certain hours of volunteering in order to play their part for the society. (Samsung Corporate Social Responsibility, n.d.)
Management
Management Team
The management team comprises of the following:
Dr Oh- Hyun Kwon- He is the vice chairman and CEO for Samsung Electronics. He has been associated with Samsung since 1998 and holds his master’s degree from Stanford.
Jong- Kyun Shin- He is the CEO and president for IT and Mobile Communication Department.
Sang- Hoon Lee- CFO and president for Samsung Coporate. He has been associated with the company since 2006.
Organizational Chart
Visible Business. (n.d.). Retrieved June 20, 2016, from http://visiblebusiness.blogspot.com/2012/03/samsung-electronics-organizational.html
Employee Recruitment and Selection
Samsung focuses on hiring best talent from around the world. The company has a rigorous recruitment process where the candidate goes through various assessment processes in order to get finalized. Samsung being an equal opportunity employer avoids any racial or gender inequality and the process is open for all global and local candidates who wish to apply.
Employee training and development
Samsung has a concept of creating “mentors” for all the employees. The company strongly believes in all their people and so invests heavily in training and development for each and every employee. The teams meet with their mentors to have a counseling session for the hard and soft skills. Training is done on hard and soft skills based upon the need identification for the employee. This is done by a mutual consent of the team leader and the subordinate.
Conclusion
Samsung with its high company values and philosophy has been managing to stay abreast with the changing times and furious competition that it has been facing around the world. With its staunch belief on talent management and innovation the company has managed to regain its position as number one smartphone provider in the world.
References
Nisen, M. (2013). Samsung Has A Totally Different Strategy From Apple, And It's Working Great. Retrieved June 20, 2016, from http://www.businessinsider.com/samsung-corporate-strategy-2013-3
Vision 2020 | Samsung Electronics | About Us | Samsung. (n.d.). Retrieved June 20, 2016, from http://www.samsung.com/pk/aboutsamsung/samsungelectronics/vision2020.html
Samsung Corporate Social Responsibility - Research Methodology. (2015). Retrieved June 20, 2016, from http://research-methodology.net/samsung-corporate-social-responsibility/
