SKL 3A1 Business Study Skills Case Example | Topics and Well Written Essays - 2000 words

SKL 3A1 Business Skills - Case Study Example The Report is written by (Your NAME) for the purpose of evaluation of Samsung’s strategy and provide recommendations for further improvement in its strategy. The report is intended to be used by the business Analyst, John Deen for information purposes only. This report is issued on November 16, 2013 and is valid only for the purpose described. 2. Procedures This report is based on secondary research and contains information from books, news articles, online journals and websites. The claims are supported with the sources used. 3. Findings Samsung is no longer a small player in the business environment. Samsung has earned its name in the biggest players of the electronics industry over a period of time. However, the recent boom signals some clear and clever strategic moves by the company. Samsung is competing by providing a wider range of products than its competitors. Samsung is a South Korean multinational corporation with its head office in Seoul. Lee Byun-Chul laid the foun dation of Samsung in 1938 (Peng, 2012). The company moved towards the electronic industry in the late 1960s and after Lee Byung-Chul passed away, the company was divided into groups including CJ Group, Hansol Group, Shinsegae Group and Samsung Group. Samsung group flourished and is still growing its profits steadily since 1990. Despite the success stories of Samsung, the credibility of Samsung’s strategy in the long run is questionable. Is Samsung taking too much risk to avail first-movers advantage or does it have a clearly defined and thoroughly designed strategy for investing in newer technologies to capture, increase and retain its market share? 3.1 Samsung’s Strategy Samsung uses a multidimensional competitive strategy with differentiation and rapid response strategies as the core of its success in the business industry. Samsung is more likely to create and introduce newer technologies and innovative products in minimal possible time. The products of Samsung under different categories are quickly designed and produced with an effective supply chain management to support the success of its products. The company is continuously investing in the unique product offerings (Nisen 2013). 3.2 Response Strategy Samsung has a clearly defined and well thought strategy working underneath the operations that are carried out regularly. Samsung’s note is a living example of how Samsung identifies and accommodates customer’s needs and expectations in its offerings. The Research and Development department of Samsung takes the lead in understanding customer demands and competitors’ current and future acts. The company, in an attempt to deliver differentiation along with a rapid response to the customers’ need for having a drawing and hand-writing feature in their smart phones, merged the characteristics of a phone and a tablet and introduced Samsung Note which was highly applauded and accepted. The R & D department found out the ne ed of Asians to have such a device to support their needs with ease. Samsung is spending a lot on Research and Development area. It has been identified that it is spending 5.7 percent of its revenues on R&D which is 3.3% higher than Apple. This clearly shows Samsung’s aggressive attempt to innovate and avail the first movers’ advantage. 3.3 Differentiation Strategy The distinct product