Essay about Samsung Electronics Co. Ltd
Sumsung Electronics is a tech giant located in South Korea, with its head quarter in Suwon. A flagship subsidiary of the Samsung group, the company has assembly plants and sales networks in over 80 countries . Ever since its establishment in 1969, Samsung has managed to effectively manage its resources and become a world leader in the corporate world. It came from leaps and bounds to be a global brand and with the company’s effectiveness and innovation, it is not a surprise that Forbes named them the 2015’s Seventh Most Valuable Brand in the World . In fact, Samsung is the world’s largest information technology company according to revenue since 2009 .
This paper will examine and critique how Samsung Electronics Co. Ltd’s journey to a global brand, and how their success has affected the employees, the environment and the stakeholders. To do so, the paper has divided the components of Samsung’s success into Good, Bad and Ugly.
After years of playing the underdog in the corporate Korea, Chairman Lee Byung-Chul in 1993 declared a launch of “New Management” in Frankfurt. It was the beginning of the transformation from a mediocre firm to the world best performer boosting of a brand value as well as premium products.
The new management in Samsung declared an “open HR” which led to the abolishment of the discrimination based on gender or academic background of the employees in the firm. This led to the effective equality of all the employees in the…