Research on diversification of Samsung
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GET WRITING HELP!For this week’s discussion post, I have chosen to research more into the diversification of Samsung in relation to the organization product and process innovations, as well as willingness to adapt.
Samsung is a global company and leader in marketing, R&D, and design. The company adapted by bringing in new employees who were unfamiliar with the company’s values and spoke different languages, coming from different backgrounds (Khanna, Song, & Lee, 2011).
A healthy investment in research and development in the late 2000s pushed Samsung to the forefront of many new technological developments in several product markets.
The company produced some of the first plasma screen TVs, increasingly pushed the technology of high definition and screen revolution, and increased product features of their phones.
In 2008-2009, the company spent over $7 billion in R&D and had 25% of the company’s workforce engaged in that endeavor. As a result, sales went up $119 bullion by 2009 due to the introduction of the Samsung Galaxy and revenue has grown since then to $218 billion in 2018 (ProTech Solutions, 2021).
Innovation has clearly been a working strategy for the firm, increasing their global brand by such high margins. I would consider Samsung to be incredibly willing to adapt and change, given that their R&D investment came at a time in America during the major housing crisis and recession of 2008.
As a tech company, Samsung will also need to continue its research and development into cutting edge technologies to keep a competitive advantage.
-John Cone
References Dyer, J., Godfrey, P., Jensen, R., & Bryce, D. (2019). What is Business Strategy. Retrieved from Strategic Management: Concepts and Cases:
https://mbsdirect.vitalsource.com/books/9781119563143 Khanna, T., Song, J., & Lee, K. (2011). The Globe: The Paradox of Samsung’s Rise. Retrieved from Harvard Business Review:
https://hbr.org/2011/07/the-globe-the-paradox-of-samsungs-rise ProTech Solutions. (2021, November 26). How Samsung’s Marketing Strategy Transformed Them Into A Global Brand. Retrieved from ProTech Solutions: https://proechosolutions.com/how-samsungs-marketing-strategy-turned-them-into-a-technological-powerhouse/
