Enjoy Upto 50% OFF on Assignment Solutions!
Analyzing Samsung's Innovation History and Capabilities Through an Audit Report by Native Assignment Help
Ph.D. Writers For Best Assistance
Plagiarism Free
No AI Generated Content
Get tailored assignment help solutions from Native Assignment Help, a dedicated UK company focused on academic excellence.
This report intends to perform an innovation audit of Samsung to inspect the organization’s innovation history and its present level of innovation activity and capabilities. The report will also state the key drivers and nature of the industry within which Samsung operates (Tidd and Bessant, 2020). The report will also highlight on SWOT and Porter's 5 forces model analysis to evaluate the weaknesses and strengths within and outside the organization.
Figure 1 Samsung
South Korean firm Samsung was established in 1969. The company started by selling televisions, and as it expanded, it made a global entry into the wireless technology sector. It is one of the businesses growing the quickest and strives to be the finest in the world.
The future of Smartphone innovation has been looking more promising in the years leading up to 2022 when the newest Galaxy products are scheduled to be released. Samsung consistently raises the bar for the industry with the release of its newest models at every big event. Since the debut of the first Galaxy S device in 2010, the company has led the industry by releasing hardware and software that surpasses the capabilities of current models each year. A screen Smartphone with exceptional engagement, a Smartphone-stylus mixture that improves creativity and productivity, and the dual-pixel camera tools in the global market are some of the most revolutionary devices so far.
Additionally, the business introduced the Galaxy tablet line and several wearable technologies, like as watches and Buds that have enriched the larger ecosystem and significantly altered the way of life of its users (Karimi and Niaraki, 2019). The Samsung newsroom is offering a look back at the Galaxy series' technological legacy.
The business installed the first dual pixel in the industry in 2016, taking smartphone camera functionality to a new level. By releasing the first folding phone in the world, the Galaxy Z fold, equipped with a 7.3-inch display, the firm broke new ground in the foldable phone market in 2019 (Yun, et. al. 2018). To ensure that Samsung's smartphones contribute to greater environmental sustainability, the company is fully committed to minimizing the ecological impact of its products throughout the entire lifecycle of its phones, from the design to the production stage through to their use and disposal.
For the expansion of innovative capability, the company has tools to categorize the key members, such as development leaders and promoters in the business. Experimental learning programs that are innovative, enjoyable, and effective are adopted to improve the performance of the employees for management innovations.
Samsung's value chain is a direct way for the regulator to track the employees and look for needed improvements. The inflow of product creation is connected to inbound logistics. The company has a 2500 supply chain and has stepped into various new areas of product businesses. Cooperatively, it runs big manufacturing stations located in different areas. Outbound logistics come from the flow of complete products from a company to customers and in the global market (Muflikh, et. al. 2021). The company has been opposing top brands and crossing them in the past. The global distributors and sellers of Samsung provide pre-sale service.
The vibrant and innovative capabilities were recognized to enlighten the company’s victorious expansion in semiconductors which includes the possibility for recognition and commercial insight by top supervision. The company draws the principle objectives next to technology acquisition and learning. It also has leapfrogged competitors through product and process innovation( Rialti, et. al. 2019). The product line of Samsung has diversified leveraging accessible capabilities and possessions released through streamlining during the economic crisis.
The most recent figures on the Smartphone market share worldwide show that as of July 2022, the company led the group with a market share of 28.14%. This means that almost 3 in 10 Smartphone users worldwide use a Samsung phone. The company’s electronics invests massively in intellectual property rights. Samsung Electronics holds more than 200,000 patents worldwide (Edquist, et. al. 2018). Brand Finance has designed the brand worth of the Samsung brand 12 times in 2011 and 2022.
Samsung is a famous technological brand located globally which is popular for its televisions and smart phones and many more products like wearable and cameras. The company is also known for its target on technological innovation. The company can use Porter’s five forces analysis that affects the competitive position and market share of the company in the global market and accomplish its goals. These 5 forces are a part of every sector and market which helps in determining the attractiveness of the industry.
Bargaining power of suppliers: In the case company their suppliers’ bargaining influence is low because of numerous factors. The first important factor is their smaller size due to which their negotiating power is low and these suppliers are spread all over the global market. Moreover, a company can easily control a new supplier from an older one and can bring a major source of profits for these suppliers, so they cannot simply switch to another brand.
Bargaining power of customers: The general negotiating power of customers is moderately higher in the company. The reason behind that is the switching cost is incredibly low for the customer and they can effortlessly control any of the rival brands, consumers can easily evaluate the brand and their product and interpret feedback from other consumers. High competition, productive use of equipment or technology, and other reasons are behind the increasing authority of consumers. The brand is providing a lot of advertising and marketing channels to attract new customers.
Threat from substitutes: The most important competitor of Samsung is LG, Sony, and Apple. Distant from this, other international and local brands create a competitive threat to the company. In general, consumers have several alternate brands and products before them and the switching costs are also low. Technological innovation, positive brand image, and comparable factors moderate this extravagance to some amount. For every product that a company makes, there are several substitutes available in the market apart from the computer chip. Apart from those laptops, Smartphones, televisions, and other electronic gadgets that Samsung launched, consumers will find the market with substitute products.
The threat of new entrants: the company is present in a highly competitive industry, where firms are competing not only in terms of the price of their goods, but also their uniqueness, creativity, and innovation. A new entrant into the sector would need rising customer knowledge and good branding, which could be not easy, because the current brand is very well-known, and presents established mobile companies (Isabelle, et. al. 2020). Firms such as Apple and Samsung manufacture products that are apparent to be premium and top of the marketplace, while any new firm would have to be satisfied with being perceived as low quality.
Level of Rivalry in the Industry: There is a great amount of competition within the current industry, mainly the influential firms, which include both Samsung and Apple. Higher competition between these 2 firms is particularly powerful because the products that they develop are alike to one another in looks and function.
Figure 3 Porter's Five Forces model
Strength Samsung is the biggest firm selling products worldwide with a good brand image. The company deals with electronic segments and is the biggest manufacturer and seller of memory chips and the second largest in semiconductors. The company is the world's biggest in size of LED and LCD producer. It has the top reputation in the phone segment in the global market and has also developed its position in the laptop and mainframe industry. |
Weakness The company lacks in segmentation and separation of products. The firm's main weakness is it only focuses on electronic and technology segments and has not measured on fashion, medicine, plant building, and hotel, chemical, petrochemical, and finance segments. The price of its product is higher than other international and regional competitors. The design of its product is not as much of attractive as competitors' products is also a weakness of the company. |
Opportunities Samsung can look to go into other countries to enhance its revenue and sales. The company can focus on other sectors to improve the overall revenue of the group. The company has a good opportunity in the software and electronic segment through innovative knowledge and introducing the latest technological tablets, phones, and laptops. Through the company providing the newest technology, latest software, and hardware phones, laptops, and tablets the company can improve its spot in the worldwide competitive market (Benzaghta, et. al. 2021). |
Threats The high rivalry in the Smartphone, tablet, and laptop segments is creating a threat to the company. Nokia, Sony, Apple, and BlackBerry are the main competitors of Samsung in the tablet and Smartphone segments. Dell, HP, and Panasonic are the main competitors in the laptop and computer industry, and acceptance in the world will impact the revenue and profit of a company. Modernization in hardware and software such as Apple is impacting its position worldwide. |
Conclusion
The report has discussed how Samsung is managing its innovation in business. The report has given a brief overview of Samsung and its organizational structure to compete in the global markets. The report has also highlighted on company's innovation history and its existing innovation capabilities and performance. This has stated the analysis of the situation, nature, and innovation in the technology industry to manage their innovation in international as well as local markets. Therefore, the report will also conclude in wider macro and competitive environment factors as well as downstream and upstream supply chain participants.
References
Benzaghta, M.A., Elwalda, A., Mousa, M.M., Erkan, I. and Rahman, M., 2021. SWOT analysis applications: An integrative literature review. Journal of Global Business Insights, 6(1), pp.55-73.
Biemans, W.G., 2018. Managing innovation within networks. Routledge.
Edquist, C., Zabala-Iturriagagoitia, J.M., Barbero, J. and Zofío, J.L., 2018. On the meaning of innovation performance: Is the synthetic indicator of the Innovation Union Scoreboard flawed? Research Evaluation, 27(3), pp.196-211.
Isabelle, D., Horak, K., McKinnon, S. and Palumbo, C., 2020. Is Porter's Five Forces Framework Still Relevant? A study of the capital/labor intensity continuum via mining and IT industries. Technology Innovation Management Review, 10(6).
Karimi, M. and Sadeghi Niaraki, A., 2019. Overview of Performance and Accuracy of Smartphone Sensors in Augmented Reality Applications. Geospatial Engineering Journal, 10(1), pp.49-62.
Mikalef, P. and Krogstie, J., 2020. Examining the interplay between big data analytics and contextual factors in driving process innovation capabilities. European Journal of Information Systems, 29(3), pp.260-287.
Muflikh, Y.N., Smith, C. and Aziz, A.A., 2021. A systematic review of the contribution of system dynamics to value chain analysis in agricultural development. Agricultural Systems, 189, p.103044.
Ovidijus Jurevicius, 2021, Porter’s five forces. [Online]. [Available on]. :
Rialti, R., Marzi, G., Ciappei, C. and Busso, D., 2019. Big data and dynamic capabilities: a bibliometric analysis and systematic literature review. Management Decision.
Samsung Newsroom, 2019. 10 for 10: Highlights from a Decade of Galaxy Innovation. [online].
Samsung.com, 2022. Samsung. [Online].
Tidd, J. and Bessant, J.R., 2020. Managing innovation: integrating technological, market and organizational change. John Wiley & Sons.
uz Zaman, U.K. and Naseem, A., 2021. Dynamic Innovation Capabilities. In Influencing Customer Demand (pp. 157-181). CRC Press.
Yun, J.J., Jeon, J., Park, K. and Zhao, X., 2018. Benefits and costs of closed innovation strategy: Analysis of Samsung’s Galaxy Note 7 Explosion and withdrawal scandal. Journal of open innovation: Technology, market, and complexity, 4(3), p.20.
Go Through the Best and FREE Case Studies Written by Our Academic Experts!
Native Assignment Help. (2024). Retrieved from:
https://www.nativeassignmenthelp.co.uk/samsung-managing-innovation-in-business-case-study-19008
Native Assignment Help, (2024),
https://www.nativeassignmenthelp.co.uk/samsung-managing-innovation-in-business-case-study-19008
Native Assignment Help (2024) [Online]. Retrieved from:
https://www.nativeassignmenthelp.co.uk/samsung-managing-innovation-in-business-case-study-19008
Native Assignment Help. (Native Assignment Help, 2024)
https://www.nativeassignmenthelp.co.uk/samsung-managing-innovation-in-business-case-study-19008
Evaluating Technology in Luxury Events: Southampton Boat Show by Petrea...View or download
Ford, Toyota, and GM Tackle Workplace Discrimination and Social...View or download
Exploring Apple's Business Strategies and the Role of the MACS Framework Are...View or download
Task 1 We offer a reliable assignment help service UK oriented, with a...View or download
Unveiling BMW's Advertising Strategies and Business...View or download
5MARK006: Exploring the Contrasting Approaches of Zara and Louis...View or download
Get your doubts & queries resolved anytime, anywhere.
Receive your order within the given deadline.
Get original assignments written from scratch.
Highly-qualified writers with unmatched writing skills.
We utilize cookies to customize your experience. By remaining on our website, you accept our use of cookies. View Detail
Hi! We're here to answer your questions! Send us message, and we'll reply via WhatsApp
Please enter a messagePleae enter your phone number and we'll contact you shortly via Whatsapp
We will contact with you as soon as possible on whatsapp.
Ph.D. Writers For Best Assistance
Plagiarism Free
No AI Generated Content
offer valid for limited time only*