Samsung Essay Example | Topics and Well Written Essays - 1000 words - 1

Samsung - Essay Example The company which always prided in its expertise to customize the product according to the needs of the customer has indeed come a long way from its formative years. The importance it gives to the quality is reflected in the fact that the flawed memory chips worth tens of millions of dollars are burnt in the open field to remind the employees of the belief customers place in their company. It has won several awards for quality during the periods 1995 - 2003 from fiercely competing companies too, which is a hallmark of sorts. The strategies it employed in bringing out the best of its engineers were a novelty then and the same strategies are now implemented across the globe to repeat the same success story Samsung had written. The company is the leading supplier of memory cards to PCs, digital cameras, game players and other electronic devices. Its primary focus was on the memory chips category which has had its own fluctuations over a period of 2 decades. There were established player s in the market like Infineon Technologies, Elpida, Micron Technology, Hynix, etc. Most of these companies were as a result of alliances with Global giants like Intel, Siemens, Toshiba and Hyundai. Samsung too acquired technology from Micron on 'cash for technology' basis. It then implemented a unique internal competition for advancements of its acquired technology. ... It graduated to the frontline companies in this category and soon toppled Hitachi as the number one producer of memory chips. The presence of Samsung's main R&D facility in one location, south of Seoul, helped save a substantial amount in construction costs. The development of Samsung's memory chips division closely follows the Porter Diamond model in that the location, available raw materials and labor are crucial factors for comparative advantage. The high employee morale that has been its strength right from its birth has ensured its position stay perched at the top firmly for decades. Samsung was also responsible for 22% of all of South Korea's exports in 2004 and was a major contributor in the $22.1 billion worth semiconductor exports from South Korea. It also represented 23% of the total market value on the Korean Stock Exchange. With this kind of economic impact on the nation, it is important from both the Government's and the company's view, that it sustains the growth level. The net revenue over a period of two decades is as follows. It shows the fluctuations in the market which needs to assessed in fine detail to ensure its leadership positioning in the market. Twice in seven years, there was a dip in profits which is a reflection of the growing competition and emphasizes the need to take appropriate measures to maintain the projected growth rates. It also stresses on the need to work on the rapidly changing technology segment. Its present focus is on the flash memory segment, which looks poised for growth in the coming years but the existing competitors have already captured a major chunk of the market. Samsung has been in the race in inventing itself according to the needs of the customer base, but the entry of Chinese companies will make it more

Corporate Balanced Scorecard Research Paper Example | Topics and Well Written Essays - 2500 words

Corporate Balanced Scorecard - Research Paper Example The balanced scorecard has long been integrated with management to make sure that the appropriate level of control is taken into consideration while obtaining corporate goals has become a primary factor to engage in maximizing operation. In various departments of an organization, the corporate balanced scorecard is a remarkable tool to help improve or ensure substantial operation that would lead to the company’s competitive advantage. For instance, in marketing department, it is important to make sure that significant information should be obtained from customers to guarantee high level of customer satisfaction and to make sure repeat purchase or positive word of mouth on certain product or service offerings. For this reason, it is important for companies to collect information from the customers in order to identify the level of customer satisfaction. In the balanced scorecard, the actual level of customer satisfaction should be set as the evaluative measure to know if there has been a good effort created that must have contributed to the actual level of performance concerning customer satisfaction. ... vel of satisfaction it serves primarily to the marketing department, because it is appropriate and substantial response with considerable haste could contribute to the actual level of customer satisfaction to be generated by the organization. Balanced scorecard is therefore a very important tool that would help enhance corporate performance. There are many things organizations should learn about it as a primary tool to help them realize adding a higher value for their customers, financial standing, learning and growth and internal business process. The purpose of this paper is therefore to explore the literature concerning corporate balanced scorecard, and the summary of information of organization using it. In finding these, there would be significant basis on certain conclusion why corporate balanced scorecard is used by specific organization. So it is important that the primary information about an organization should be well evaluated in order to find out at which point corporate balanced scorecard has been making sense in its actual purpose and usage. There are many literatures linked with the balanced scorecard and it is the intention of the proponent to integrate them into the actual discussion of this report. Furthermore, the integration of information concerning the organization using the corporate balanced scorecard is also taken into account in understanding possible implications of performance measurement and control. Literature review on corporate balanced scorecard The balanced scorecard was introduced by David Norton and Robert Kaplan in 1992 as they were interested to study performance measurement that would include tangible assets for value creation (Kaplan, 2008). They were primarily inspired to know about measurement for driving performance