Corporate Venturing Of Samsung Company †MyAssignmenthelp.com

Question: Discuss about the Corporate Venturing Of Samsung Company. Answer: Introduction Samsung Company is an international corporation that is involved in producing electronic products such as radios, televisions, and phones. Lee Byung-Chul founded the Samsung Company in 1938 as a traditional company. The name Samsung literally means Korean hanja, this means Tri-Star implying something big and powerful. Samsung Company has been in the international electronics industry for the last decades because of its prevailing technological intervention and innovation, the company main competitors in the market include Sony, Apple Inc., and Motorola(Lee, 2006). Despite operating in a competitive market, Samsung Company has posted a KRW 53.33 trillion in consolidated revenue, the company has also reported over KRW 9.22 trillion operating profit for the quarter. In 2016, the company reported KRW 201.87 trillion and operating of KRW 29.24 trillion. The fourth quarter earnings in 2016 were driven by the essential business strategies inaugurated by the company top management(Mitchell, 2010). The company success is ordained by the corporate venturing on different business components mainly on the Memory and Display Panel segment, their manufactures are OLED and LCD screens. The excellent sales value is contributed by the high performance of the memory products, large shipment of large-size UHD panels and OLED. These business strategies led to increase in company operating profits(Hayton, 2005). Samsung Logo A business logo has been defined as a source of every business success. Samsung Company Logo has played a fundamental role in ensuring that the corporation name is known in the work technological industry, it is one of the models of marketing that is used by the company to gain more success. According to the study, the first enlargement of the company image was started in 1993. Samsung Company has driven its business strategies that will enhance corporate identity of its products in the market(Madhavaram, Badrinarayanan, McDonald, 2005). Currently, the company is using a blue background that was designed to show the indefinite shape that elaborates on the impression of modernization as well as advanced business corporate strategies. The consumers in the market recognize the company products by viewing at the logo(Percy, 2014). Samsung Company has released different types of products that are considered to meet the demands and needs of the consumers in the market. The company informed its all new products by using a business slogan, Inspire the World, Create the Future, this slogan as used by the Samsung Company implies the essence of chasing the future with new inspirable products(Hayton, 2005). The slogan is used by the company to inform its consumers that they are moving forward towards improving its products and brands in the market. Theoretical Concepts Since the foundation of the Samsung Company in 1969, the company has counted its success based on many business components and concepts that are critical to any business enterprise, especially those that operate in the large market. The company has expanded in many areas of business, the executives of the company have capitalized on strategic measures that are recognized to have positive influential approach to the business organization(Banerjee, 2009). Marketing Strategies Management is explained as the process that entails coordinating the fundamental activities of the business organization with an aim of accomplishing the strategic goals and objectives of the company(Pride Ferrell, 2016). Management comprises the vital approaches of marketing, marketing is outlined as a strategic management approach that involves the process of transforming goods from their original concept to the consumer. Marketing strategies comprise the implementation of marketing mix approach, where 4ps are considered as the essential components(Pitts, 2017). Marketing communication Marketing is a fundamental part of management that comprises the process through which goods and services are transformed from their original concepts to the consumers, it entails the process of coordinating the four components of marketing, the four elements are the product, price, place, and promotion(Madhavaram, Badrinarayanan, McDonald, 2005). Marketing communication is part of marketing that ensures that all the important information reasonably linked together with the purpose of accomplishing the company goals and objectives(Lee, 2006). The marketing communication is described as the marketing component that enhances that all the marketing promotional tools are harmonized collectively. Marketing communication is the important part of organization management strategies, it defines the communication channels, media that are used to convey important information to the consumers(Percy, 2014). Samsung Company has confirmed the importance of implementing marketing and communication policies, the company has coordinated all marketing approaches that are recognized to positively influence the company business activities. Advertisement The advertisement is the main element of marketing communication. It entails the process of using TV, radio, and posters to promote products and services. The Samsung Company certifies the importance of advertisement marketing approach The Company has made TV advertisement to promote brand awareness in the market. Samsung Company and Chile Worldwide Agency have recently focus to implement the advertising campaigns about its new products in the market(Banerjee, 2009). Sales promotion Sales promotion in marketing acts as the pivot of the company success. Marketing communication in an organization advocates the process of implementing sales promotion as a fundamental constituent of marketing. The Samsung Company has offered bonus to the consumers who purchase new products and trading-off their products with previous one. By implementing on sales promotion, the consumers are allowed to receive the value of their products(Madhavaram, Badrinarayanan, McDonald, 2005). Internet marketing The Internet is considered as an essential element of marketing communication in a business organization. Samsung Company has capitalized on internet marketing where social media is considered as a primary element of internet market. YouTube and Facebook are the largest social media that are used by Samsung Company to attained its marketing objectives(Singhania, 2006). Samsung innovative Strategy Every electronic customer knows about Samsung Company which is a leading electronics company in the world market. Inspire the World, Create the Future is a slogan that has made the company focus on the innovative business strategies that will ensure the company is gaining a competitive advantage in the market(James , 2011). Many critics have arisen arguing that Samsung Company is copying its designs from Apple Inc. which is the main competitor in the market. The company innovation in screen technology, batteries, TVs, and chip designs is known to be exceptional in the market as compared with other players in the market. The Samsung Company innovative strategy is drawn from earlier 1990s and 2000 when they started to adopt a comprehensive systemic approach to innovation, this earlier capitalization of innovative approaches has contributed to the current business success(Karimi Walter, 2016). Samsung Company innovative strategy has natured a good relationship with Russian Academy of Science, the two parties agreed on major approaches that may lead to competitive advantage. Innovation at Samsung is promoted by the support that is given by Korea Government, the government provided incentives to Korean business enterprises to develop projects under the Academy research(Mitchell, 2010). Samsung Company is known to be part of the agencies that help Academy research as it increases its patent count as well as exploiting its interventions of ideas. The corporations of Russian Academy of Science with Korean Government have obliged the Samsung Company to cooperatively venture their business activities to other small business organization. Samsung Company totally different strategy from Apple Innovation strategy at Samsung Company is described as a model that has made the company to be the leading electronic producer in the industry, this business model has kept the competitors at a bay. Apple Inc. is the largest market player in the technological market, it is one of the market giants that compete with Samsung Company. In the last few years, Samsung Company has been working extensively to catch up with the Smartphone market. The Samsung Company has inaugurated new strategies of improving the existing product in the market. In 2013, Samsung Company introduced new product, the Galaxy S4 smartphone(Max, 2013). The Samsung Galaxy S4 smartphone flagship was the latest product in the market, it had a massive screen and impressive features. The product also had friendly software that allows the consumers to use the product effectively. The present business environment puts Samsung Company in a sea of challenges and defeats, the aspects of globalization, as well as the technological changes, accelerate the challenges and defeats affecting the Samsung Company. Innovative strategy used by Samsung Company in the market is embed and inside innovation strategies that truly contribute to the game-changing in the market. Research Approach The mobile manufacturers are currently operating in highly and large competitive business environment. The technology companies are developing new technology product that is considered too important to the 21st-century market environment. Innovation and release of new product designs evolutes through many technological advancements. Every market player in the technology industry is extensively working to maintain and improve their market positions(John , 2012). The research report contents are projected from the different departments of the organizations, including marketing sector. The foundation of the research is based on the geographical division of Samsung Company and their business activities. Samsung Company is a South Korean corporation that operates in 65 countries with over 170, 000 employees working for the company. The business strategy of Samsung Company is focus to present an interesting case since it pursuing both product differentiation approaches and cost leadership in the market(James , 2011). Data Analysis And Discussion: Entrepreneurial Intensity The entrepreneurial intensity is a business strategic management approach that defines the levels of entrepreneurship within a given organization. An entrepreneurial intensity is comprehended when its orientation to the business is associated with the performance of the company. Entrepreneurship is a foundation aspect of EI as a business strategic management approach, it is defined as the process of accumulating the available resources and intercepting the ideas to exploit a business opportunity(Morris, Kuratko, Covin, 2010). Measuring innovation at Samsung Company The core factor that has kept the Samsung Company on the move of being among the leading technology companies in the market is the fact that it capitalizes on market research. This implies that the company is primary defines its success by conducting technical research in the market with regard to the needed products(Kuratko, 2016). Samsung Company spends more time doing research as compared to other market players such as Apple Inc., Sony, and Microsoft. Inspire the World, Create the Future, is a business slogan that is used by Samsung Company anticipate for its future performance in the market. The company has focus to adopt the corporate venturing strategic management approach. The future investment adopted by the company has allowed the company to be the leading producer in manufacturing of memory chips, Phones, TVs, multimedia, and LCD. Samsung Company has been able to maintain its entrepreneurial drives as it implements on the essential entrepreneurial aspects. Samsung innovation is one of the business aspects that has kept the company to kept competitors at bay. Over 170,000 employees who are spread in 18 research centers in the world succeed innovation strategies for the company(Karimi Walter, 2016). New path to sustainable competitive advantage Every business organization in the current business environment is exploiting on different measures that will contribute to their success. Primarily business environment is constituted by different aspect that may prevent the business organization to gain competitive advantage in the market. Samsung Company is in the front line of adopting new measures that will provide solutions to the business challenges. Entrepreneurship Intensity is a business strategy that has allowed Samsung Company to gain a sustainable competitive advantage in the market. The process of obtaining business advantage in the market confirms the aspect of focusing on the entrepreneurial characteristics. The expedition of competitive advantage in the market obliges company and the managers to inaugurate on the entrepreneurial features. The managers of Samsung Company are known to adapt existing and new market with entrepreneurial characteristics. Aggressiveness, innovativeness, and adaptability are the entrepreneurial aspects installed by the Samsung Company(Max, 2013). Climate for Corporate Entrepreneurship In the current business environment, the business organization is focused on the entrepreneurial behaviors. Samsung Company management led by Lee Byung-Chul are working appropriately to create entrepreneurial climate. Samsung Company has gained the reputation of being a fast follower after Apple Inc, the Samsung Company is dispersedly adopting the approach of creating a corporate entrepreneurial climate by innovative and developing new products(Max, 2013). The corporate entrepreneurship climate of Samsung Company is promoted by the support from the Korean government that provides free tax incentives as well as offering investment capitals. Unlike other players in the market, Samsung has focused mainly on the existing markets, the company has studied the markets and innovating inside them(Karimi Walter, 2016). Conclusion Samsung Company is an international company that is involved in production of electronic products. Lee Byung-Chul founded the company in 1938 as a trading company. Corporate venturing is a fundamental business approach that allows the business organization to focus on the future investment. Entrepreneurship and innovation are the key aspects of corporate venturing. Inspire the World, Create the Future, is a business slogan that is used by the Samsung Company to focus on the future investment. The slogan is used by the Samsung Company to improve the existing product as it also produces inspirable products. Marketing is part of the management, it involves the process where the materials are transformed from their original concept to the consumer concepts. Marketing involves the coordination of 4 marketing mix, this strategies involves, product, price, promotion and place. Marketing communication is an element of marketing that constitutes the process of coordinating all the essential information to the consumers. Innovation and entrepreneurship are the key features that contributes to the success of an organization. Innovation strategies at Samsung Company contribute to sustainable business advantage. Corporate entrepreneurship allows the business organization and mangers to create a productive organizational behavior. References Banerjee, S. 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