Samsung is a Seoul-based electronics company that deals with television sets, cameras, personal computer items, print solutions, cell phones, home appliances and other accessories. Having been started in 1938 as a Korean export business, it has grown to be one of the leading multinationals. The multinational company’s vision is to "Inspire the World, Create the Future." (Samsung, 2013). The company’s philosophy is “to devote our talent and technology to creating superior products and services that contribute to a better global society” while its core values are people, change, excellence, co-prosperity and integrity. The company …show more content…
They included technological and social factors. In this regard, technological actors would propel the degree of rivalry while social factors would influence the buyer power.
In the recent past, the company, Samsung, has been in the limelight addressing the issue of competition. According to Michelle (2010), this has been seen in the development of super products to effectively compete with substitutes from other companies. According to the author, the development of Samsung Galaxy has led to a global applause in the product and consequently led to apprehension of significant global market share. This is demonstrated by the fact that in mid-January 2013, Samsung reported that its Galaxy S3, S2 and S global sales had surpassed 100 million units (Samsung, 2013). This led to achievement of operating profits of 8.3 billion U.S. dollars. This is a clear indication that through technological innovation, Samsung has been able to deal with rivalry in the market. Other ways in which the company uses technology to deal with competition is development of other products such as Smart cameras and Tablet personal computers.
To influence the positive attitude towards its products, the company engages in community affairs especially in supporting education and healthcare (Samsung, 2013). The multinational also manufactures a wide variety of products for the middle-class. The company observes high quality