Samgsung Electronics Essay Example | Topics and Well Written Essays - 750 words

Samgsung Electronics - Essay Example The high quality of products is implicit, but never sufficient. Innovations are the key to success in these markets, but they come at a high price and are very easily copied. It takes a mix of luck, great management and a visionary business approach to make it in today’s overcrowded marketplace. Samsung, one of the largest Korean companies, begins its second century. The new digital era has brought revolutionary opportunities and changes to global business. Samsung has come up with solutions to these changes by upgrading its business structure, management perspective, and corporate culture to meet the new global standards (Samsung.com). Since its founding in 1938, Samsung has grown from a domestic industrial leader into a global consumer electronics powerhouse. The company is presently recognized as one of the world’s leaders in digital technology, holding the number one market share for thirteen products of the range (among which semiconductors, TFT-LCDs, monitors and CDMA mobile phones). These considered, the company’s target is an increase on this number to thirty in the following year. On the main priorities of the company is the research and development function, especially on the semiconductor line that includes flash memory and non-memory, custom semiconductors, DRAM and SRAM. The department in charge with this vital function comprises 13,000 researchers, and the financial investment is large - US$ 1.7 billion. But there is no other way in the technological fields, and the management at Samsung knows it better than anyone, having an experience of many decades. From a financial perspective, the company offers its clients services that have been appreciated and awarded. The Samsung Card is a payment solution that was selected as the "Best Card Company in the New Millennium" by MasterCard. This type of facilities and incentives for clients come as a plus to the products, more than a marketing tool – a long-term business development