Company progress entails a great investment in all aspects of business. This includes investments in research and development, technology and human resource among others. The Samsung Group is just one of the big companies worldwide which has made the biggest investments to maintain its name and product line in the business industry. Significance/Issues The case of Samsung Electronics depicts the concern of the Samsung group to keep and maintain its productivity and serviceability in the electronics industry. Thus, much attention has been given in order to increase the quality of products so as to meet the demands of the public.
More so on matters affecting the business industry. Competition is stiff and so attention is likewise given on the conduct of continuous research on competitors’ strategies and tactics are kept tract. The Samsung Group, a product of Korea faced the battle in the business industry with China. The battle spur in 2005 when China took a bigger part of the sales of semi-conductors on digital cameras, mobile phones and other gadgets, which are likewise the leading products of Samsung. Not only that, other major competitors like Germany, North Korea came out with the newest in semi-conductors.
The problem lies amidst this stiff competition. As major producers of electronic gadgets, other companies are likewise coming out. In this regard, Samsung is faced with the problem of maintaining its market share in terms of sales. Consequently, its strategies in increasing its sales, investments in research and development, manpower, product promotions become affront. Analysis/Recommendations With the economic condition in the global market today, Samsung is faced with the greatest challenge of maintaining if not increasing its market share, improving, modifying and/or adopting new strategies.
Company investments in general should not be confined to what it can produce as a company. Important aspect of doing business is knowing how to tap the possible consumers of the products. Samsung, being among the major electronic gadget producers in the global market, has served its consumers with the quality products. However, a bigger part of the market remains untapped. Another aspect of keeping the growth of the company is product development. Technological advancements require much investment in research and development and man power.
From international dealings can a company be able to get the best researchers in the field of technology. On the other hand, international interaction is a way of knowing the needs of the market. It can be seen in the case however that at the end of every discussion/forum on product development, human resource planning and management should be the backbone of the company progress. Continuous production with trial and error along the way be the forefront of the business. In sum, company progress should be a development of a company in its totality, from human resource management improvement to product sustainability and growth.