The Secret of Samsung's Success Essay Example | Topics and Well Written Essays - 1000 words

The Secret of Samsungs Success - Essay ExampleSamsung claims to have the largest portion out in the global smart phone market, which is because of the Galaxy smart phones by Samsung. In 2012 it was awarded as a worlds ninth best brand (Tek, n.p). Samsung now stands among the top tier global corporations, possesses nifty ranking in the superior management, and provides transition in design along with improving its sales and recompense (Lee, 9). In 2012, the companionships sales were about $ 42 zillion and it made a 50% profit in the same year making Samsung the best electronic company amongst its potential competitors orchard apple tree and Sony. This paper puts across the secrets of the victor of Samsung Company over the years. Samsungs goal is to establish e actually column inch of customers starting from their homes, new phones, tablets, televisions, laundry machines, cameras, dryers, refrigerators, computers among others unlike Apple that focuses on laser electronics. Sam sung does a physique and it does it very well. In 2011, Samsung was the worlds top television maker with a market share of 22%. It also had grown in washing machines from 7% to 9% in 2009 and 2011 respectively. The company introduces a variety of products that best serve the customers. Samsung Corporation has successfully blended speediness, imagination and affordability in their offerings to capture the consumers attention. It has invested huge sums on extensive research and development to gain and maintain competitive market, Samsung spent around US$ 2.3 billion on research and development (Roll, 154) while its competitors Apple used only 2.4 percent of its revenues on innovation (Roll 154). Focusing on research and development of a variety of products such as refrigerators, tablets, televisions, cameras, new phones, washing machines with features that best suit public demand is the secret behind the success of Samsung. The secret of Samsungs success is attributed to quality inve stment and manufacturing. Samsung introduced Samsung galaxy, Smart TV, Smart Phones each with a new feature. The Smart Phones had quality Cameras, enabled the exploiter to access information faster and used a variety of font sizes as preferred by the user. The problem of their competitor Apple has been lack of constant innovation. It has been around 3 years since Apple released the iPod, the companys last breakthrough product. Its latest products have been iterations of existing gadgets. The iPad Mini is just a small iPad and not something new. Samsungs success is therefore because of its constant innovations of new products such as galaxy S II. Samsung poses great motivation to its employees that make them work even harder for the achievement of the companys success. It manages the working hours of its employees to hold back no worker is overworked. Their system tallies overtime hours daily by individuals and communicates to the human resource managers. Samsung SDI recommends em ployees to subscribe to leaves open for them. The leave- use record is controlled at the individual level by the system and the employees are only allowed to take their leaves as indicated in the system. To domestic employees, the company provides pension scheme, health insurance, industrial accident insurance, employment insurance, mortgaging support, medical exam expense support, personal scheme assistance, fitness facilities and recreation facilities