· your task is to undertake a strategic planning exercise for your own organisation, or for an organisation with which you are familiar. For this assignment, you are required to conduct a detailed...

STRATEGIC PLANNING FOR SAMSUNG
Table of Contents
Introduction    3
Mission of Samsung    4
Vision of Samsung    4
Analysing the Internal Environment of Samsung Using SWOT Analysis    4
Strengths    4
Weaknesses    5
Opportunities    5
Threats    6
Analysing the External Environment of Samsung Using PESTLE Analysis    6
Political Factors    7
Economic Factors    7
Socio-Cultural Factors    7
Technological Factors    8
Legal Factors    8
Environmental Factors    8
Most Appropriate Strategies for Samsung    8
Justification of Choice    10
Critical Evaluation of the Components of Strategy Execution    10
Organisational Structure    10
Corporate Culture    10
Conclusion    11
Recommendations    12
References    13
Introduction
Samsung, a South Korean multinational conglomerate is one of the world’s largest manufacturers of electronic devices. The brand has managed to expand across international borders with its specialisation in the production of a wide variety of industry as well as consumer electronics including smart phones, home appliances, digital media devices, semiconductors, memory chips and many more such products. Samsung thrives to incorporate latest technology into all of its business operations and therefore, has become one of the most well known names in the electronic industry with a strong customer base. The brand has devoted its talent to create superior products and services so as to attain maximum levels of customer satisfaction, which will not only increase sales but will also, help the brand to gain competitive advantage.
Founded as a grocery trading store in March 1938 by Lee Byung-Chull, the brand has managed to grow immensely over years with its policies and strategies focused towards both the satisfaction of the customers as well as towards the satisfaction of the most valuable human assets. Samsung is committed to follow the global standards and code of conduct for the betterment of the organisation as well as for the benefit of the employees of the business organisation. They believe in ethical management as this will help the management of the orgnisation to rapidly respond to the business changes occurring at the global level and to build trust with various internal and external stakeholders of the business. Samsung is committed to provide its employees with training while they practice transparent and fair corporate management.
Fig 1: About Samsung
Mission of Samsung
The mission statement of Samsung indicates that the organisation has devoted all its human resources and technologies to create products and services with a superior quality, which may contribute to a better global society.
Vision of Samsung
Samsung has a long term vision of inspiring the world with their innovative products, designs and technology that shall help to enrich the lives of people and create a new future by contributing to social prosperity.
Analysing the Internal Environment of Samsung Using SWOT Analysis
A huge credit of the success that Samsung enjoys goes to its remarkable internal business environment. The organisation has lot of strengths and the weaknesses of the multinational conglomerate organisation are only a handful. The internal business environment of Samsung can best be understood on the basis of SWOT analysis. The strengths, weaknesses, opportunities and threats of Samsung’s internal environment have been identified as below:
Strengths
The strengths of Samsung that have a direct impact on some of the strategic factors of this business include:
Research and Development: Samsung has always been conducting extensive research and development to satisfy its modern day technology freak customers with the best product products and services (Omer, 2019). Through their research and development Samsung has been able to create a wide range of products helping the business to gain competitive advantage.
Design Capabilities and Product Innovation: Samsung is considered as an innovative company that is capable of coming with innovative designs which are ecological friendly in nature. There designs are considered as one of the best options available, which are creative and innovative.
Focus on Resources and Core Competencies: The management of the business organisation has been motivating its employees to focus on the core competencies of the business and on planned usage of resources to generate the best possible outcomes. The brand not only focuses on customer satisfaction but also focuses on employee engagement and employee retention through effective performance management system.
Training and Development: Samsung spends a considerable amount of money on the training and development of its employees regarding the latest technologies in order to enhance the capabilities and skill sets of its employees. This fosters innovation and creativity among the employees and motivates them to come up with out of the box ideas.
Weaknesses
Language Barriers: Since, the headquarters of the organisation is located in Korea the top level management of the organisation is unable to communicate properly with other English speaking members of the organisation across the globe. Moreover, some of the operation manuals are available in Korean language could not be understood by other members of the organisation.
Dependency on Android OS: Samsung’s dependency on android OS is one of the factors that limits its business opportunities and is one of the causes of the declining position of the business as this requires licensing that is restricted by Google.
Lack of Competitive Comprehensiveness: The internal factors of Samsung are relatively weak in increasing the switching costs of its customers when they plan to buy consumer electronics from rivals like Apple.
Opportunities
Investment in R&D: Samsung’s investment in R&D will help to maximise the wealth for its stakeholders as coming up with cutting edge technology can help to boost the sales of the business, therefore, increasing the overall profitability of the business.
Better HR Management: Samsung can focus on better leadership and development of its human resources in order to make transformational accomplishments which are impressive. This will not only help to boost the sales of the business but will also help to gain competitive advantage over the rivals (Jurevicius, 2018). The brand image of the organisation can be utilised to motivate the employees in order to enhance their performance and improve their productivity.
Utilise diversification for Benefit: The management of the organisation must focus on incorporating cultural diversity within the organisation as...