Vol. II (2021), No. 2

Mirta Radic
Libertas International University, Croatia 

Review Article
DOI:  https://doi.org/10.47954/ijcbe.2.2.3
JEL Classification: A13, F23, L1


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

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