Vol. II (2021), No. 2
BUSINESS STRATEGY AND MANAGEMENT METHOD ON THE EXAMPLE OF SAMSUNG
Mirta Radic
Libertas International University, Croatia
Review Article
DOI: https://doi.org/10.47954/ijcbe.2.2.3
JEL Classification: A13, F23, L1
Abstract
As the world we live in today is becoming more and more interconnected and the global market is constantly evolving, enterprises are required to adopt innovations and implement precise managerial decisions that are of great accuracy. Considering the challenges that are incorporated in doing business, companies are obliged to choose the adequate strategies to execute and achieve success. Moreover, the understanding of factors that affect business is of importance since conducting a successful business is never accidental. Long-term preparation is the key for prosperity. Additionally, in order to operate on an increasingly competitive level, it is important to take into account competitions way of doing business as well as the importance of planning for entering foreign markets. To fully grasp what is needed in order to succeed, the aim of this paper to, even remotely, showcase the needed steps for establishing a business. The example taken into consideration is based on the example of Samsung, a South Korean chaebol, which has been one of the most successful businesses in the world.
Key words: strategy; management system; Samsung
Full text
Download PDF here (pp. 33-49).
References
Barney, J. (1991) ‘Firm Resources and Sustained Competitive Advantage’, Journal of Management, 17(1), p99-120
Bondarenko, P. (2021). Samsung | History & Facts [Online]. Available at: https://www.britannica.com/topic/Samsung-Electronics (Accessed: 10 July 2021)
Burris, M. (2020) The history of Samsung (1938 – present) [Online]. Available at: https://www.lifewire.com/history-of-samsung-818809 (Accessed: 10 July 2021).
Chang, C.S. (1983) ‘Comparative Analysis of Management System: Korea, Japan and the USA’, Korean Management Review, 13(1), p77-10
Chung, K.H, Lee, H.C. and Okuruma, A. (1988) ‘The Managerial Practices of American, Japanese and Korean Firms’, Journal of East and West Studies, 18(2), p45-74.
Chung, K., Lee, H. and Jung, K. (1997) Korean Management: Global Strategy and Cultural Transformation. Berlin, Boston: De Gruyter
Hill, C., Hult, G. (2017) International Business: Competing in the Global Marketplace. 11. edn. New York: McGraw-Hill Education
Jun, I., (2009) The Strategic Management of Korean and Japanese Big Business Groups: A Comparison Study between Korean General Trading Companies and Japanese Sogo Shoshas. Ph.D. Thesis. The Birmingham Business School, The University of Birmingham
Jung, S., (2014) The Analysis of Strategic Management of Samsung Electronics Company through the Generic Value chain Model. [online]. Academia.edu. Available at: https://www.academia.edu/15748265/The_Analysis_of_Strategic_Management_of_Samsung_Electronics_Company_through_the_Generic_Value_Chain_Model (Accessed: 26 November 2021)
Kang, M. H. (1996), The Korean Business Conglomerate: Chaebol Then and Now. Institute of East Asian Studies. University of California, Berkeley: Center for Korean Studies
Khanna, T., Song, J. and Lee, K. (2021) The Globe: The Paradox of Samsung’s Rise [Online]. Available at: https://hbr.org/2011/07/the-globe-the-paradox-of-samsungs-rise?registration=success (Accessed: 16 July 2021)
Mensik, S., Grainger R.J. and Chatterjee S.R., (2011) [Online]. Available at: https://www.researchgate.net/publication/268328209_Trends_and_Transitions_in_Japanese_and_Korean_Management_Approaches, (Accessed: 20 November 2021)
Porter, M.E (1979) ‘How Competitive Forces Shape Strategy’, Harvard Business Review, 57, p137-145
Rowley, C. and Bae, J.S. (2003), “Culture and Management in South Korea” in Warner, M. (ed.)., “Culture and Management in Asia”, Routledge Curzon
Thompson, A.A, Strickland, A. J. and Gamble J. E. (2007) Crafting & Executing Strategy. 15th edn. New York: McGraw-Hill/Irwin
Yip, G. (1995) Total global strategy: Managing for Worldwide Competitive Advantage. New York: Prentice Hall
Y. Cho and J. Yoon (2001) The Origin and Function of Dynamic Collectivism: An Analysis of Korean Corporate Culture, Asia Pacific Business Review, 7(4), p70-88