In order to achieve competitive advantage, it is important to have a strategy. To have a strategy and a competitive advantage is something a business must have. A business cannot survive if it doesn’t have a strategy or doesn’t know how to compete and make a competitive advantage. In 1938 Samsung was established by Byung-Chull Lee in Taegu, Korea. Along these lines, before discussing what strategy Samsung used to accomplish global competitive advantage. What a strategy implies. Lots of people put definitions to make it straightforward what a strategy implies. In 1980, Porter said that developing a competitive strategy is developing a broad formula for how business is going to compete, what its goals should be, and what policies
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Strategy is a plan, method, or series of actions designed to achieve a specific goal. The strategies have common characteristics. These characteristics are; strategy concern the long term, determine goals and objectives, allocate resources in order to achieve these goals, analysis what options are available to organization and what to pursue, take place in a competitive environment where some organizations succeed and others not. To achieve a global competitive advantage is not a simple thing to do. Competitive advantages are conditions that allow a company to produce a good or service at a lower price or in a more desirable fashion for customers. According to SWOT, firms that use their internal strengths in exploiting environmental opportunities and neutralizing environmental threats, while avoiding internal weaknesses, are more likely to gain competitive advantages than other kinds of firms. Samsung in first place build a name for itself. Build a name is not that easy. …show more content…
Why these two specifically. Why the Classical approach is related to Samsung. The classical approach as said above it depended on the relational economic man. In another word, there is one person is in charge. In1938, Byung-Chull Lee was in charge of Samsung and after he died his son Kun-Hee Lee become the Chairman (the one who control the company). Kun-Hee Lee made lots of things to make Samsung become better. He even spends lots of money to do so. He even chose the design philosophy. As said before the classical approach is the most appropriate for stable and mature businesses. The second approach which is related to Samsung is the Evolutionary approach. The market is responsible for choosing the winners. First they were carrying for the quantity not quality. Samsung change from focus on quantity to quality. Samsung also changed its systems and processes to improve the design. This all result from the customer needs and what market wants. Samsung heads took the employees on a worldwide tour to make them see the world and become more open to it. So, they can think out of the box. Samsung did this because of the market. As a result to this, Market chooses Samsung as a winner from what is available. The market did not necessary choose the best. So, market chooses Samsung as the number one in the last five years. Leading branding consultancy firm, named
Strategy is a plan, method, or series of actions designed to achieve a specific goal. The strategies have common characteristics. These characteristics are; strategy concern the long term, determine goals and objectives, allocate resources in order to achieve these goals, analysis what options are available to organization and what to pursue, take place in a competitive environment where some organizations succeed and others not. To achieve a global competitive advantage is not a simple thing to do. Competitive advantages are conditions that allow a company to produce a good or service at a lower price or in a more desirable fashion for customers. According to SWOT, firms that use their internal strengths in exploiting environmental opportunities and neutralizing environmental threats, while avoiding internal weaknesses, are more likely to gain competitive advantages than other kinds of firms. Samsung in first place build a name for itself. Build a name is not that easy. …show more content…
Why these two specifically. Why the Classical approach is related to Samsung. The classical approach as said above it depended on the relational economic man. In another word, there is one person is in charge. In1938, Byung-Chull Lee was in charge of Samsung and after he died his son Kun-Hee Lee become the Chairman (the one who control the company). Kun-Hee Lee made lots of things to make Samsung become better. He even spends lots of money to do so. He even chose the design philosophy. As said before the classical approach is the most appropriate for stable and mature businesses. The second approach which is related to Samsung is the Evolutionary approach. The market is responsible for choosing the winners. First they were carrying for the quantity not quality. Samsung change from focus on quantity to quality. Samsung also changed its systems and processes to improve the design. This all result from the customer needs and what market wants. Samsung heads took the employees on a worldwide tour to make them see the world and become more open to it. So, they can think out of the box. Samsung did this because of the market. As a result to this, Market chooses Samsung as a winner from what is available. The market did not necessary choose the best. So, market chooses Samsung as the number one in the last five years. Leading branding consultancy firm, named