These decisions were made using a SWOT analysis. The managers were able to identify strengths, weaknesses, opportunities, and threats to the company and adjust their strategy to optimize the situation.
While profits from semiconductor sales are keeping stakeholders happy, Samsung is pursuing a differentiation strategy in the smartphone market. The managers are committing more resources to researching something they think will revolutionize phones. author name writes, “All smartphone makers face the issue of stagnancy in hardware innovation. Samsung is currently working on developing a smartphone with foldable displays…” (Tanner). There has not been a ground-breaking development in smart phones in the last few years, so the managers believe
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They have instilled a culture of integrity, compliance, and diversity while remaining lawful and ethical. However, Samsung is a global leader, making massive profits, which could distort or blind members to act in their own self-interests rather than the interests of the company. To maintain their organizational culture and continue operating ethically, Samsung has clearly defined three systems to help guide the company. These systems are the Compliance Management Program (CMP), human resource development, and workplace environment monitoring (People).
The purpose of the CMP is to solidify their organizational culture of integrity, ensuring that every person acts honestly and ethically in conducting everyday activities and making decisions. The CMP has three areas of focus: “The Compliance Management System, prevention of unlawful activities, and response to changes in regulations” (People 30). Throughout all departments are compliance teams that specialize in protecting the reputation of the company as well as individuals in the company through a process of “prevention, monitoring, and post-management” (People 30). Figure 1, below, is a graphic from the 2015 Samsung Electronics Sustainability Report, which illustrates how compliance management is incorporated throughout the organization (People
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The corporate managers make a vast majority of the decisions on what projects the company will pursue.
Additionally, Samsung has established an Ethical Management (Anti-Corruption) System which allows “… employees and other stakeholders to confidentially and anonymously report violations of (their) ethical standards” (People 31). It has successfully aided in resolving over 1,820 cases in the past three years (People 28-33). This system is a risk-free way for any stakeholder to bring up issues they may see in the company. This also provides feedback to the managers and helps to prevent ethical dilemmas from occurring in the
The ethical code of an organization illustrates the importance of being honest, acting with integrity, and showing fairness in decision making (Bethel, 2015). Ultimately, “laws regulating business conduct are passed because some stakeholders believe they cannot be trusted to do what is right” (Ferrell, Fraedrich, & Ferrell, 2015, p. 95). In the last couple of years, culture has become the initiator for compliance, which means from the top down there has to be a commitment to act in a way that represents the company’s core values (Verschoor, 2015).
The objective of this paper is to analyze and discuss some of the Boeing Company's business decisions using their strengths, weaknesses, opportunities and threats, also known as S.W.O.T. analysis, which is defined as, "a planning tool used to analyze an organization's strengths, weaknesses, opportunities, and threats." (Nickels, McHugh, McHugh, page 216)". This is a very powerful tool usable by any business that is just starting out, going through a change in direction, or in the process of a major merger. SWOT analysis consists of a few simple steps which can provide valuable insight for direction and decision making. This paper will use The Boeing Company as an example of a SWOT analysis application.
SWOT analysis is a planning method that was created in the 1960’s by a management consultant named Albert Humphrey. SWOT is an acronym for strengths, weaknesses, opportunities, and threats and in SWOT analysis you evaluate those four elements of an organization, company, project or business venture. Therefore, a SWOT analysis can be conducted by ownership, top managers, marketers, or any person that wants to evaluate a company, product, location, or industry. There are several advantages to using SWOT analysis like, taking advantage of your strengths, addressing your weaknesses, detecting threats, capitalizing on opportunities, and understand your business better. However, like everything there are advantages and disadvantages and the disadvantages for SWOT analysis is that there are no ways of weighing these strengths, weaknesses, opportunity’s and threats.
A SWOT analysis is simple exercise that could be implemented on multiple subjects including an individual or a whole corporation. The SWOT analysis is an operational tool for managing change, defining strategic direction and setting realistic goals and objectives according to Simoneaux and Stroud (2011). Discovering new opportunities and manage and eliminate threats that are present in the company and the surrounding market. SWOT is a valuable technique that leads to a better understanding of the strengths, weaknesses, opportunities and treats both internally and externally. The strengths and weakness are to be considered internal factors and opportunities and threats to be e...
The definition of SWOT analysis is comprehensively summaries the internal and external conditions, critical evaluate advantages and disadvantages of organization, facing the opportunities and threats, in order to the combination of company 's strategy and internal resources and external environment (Yuan, 2013). In contrast, SWOT analysis method is a descriptive model, because the enterprise strategy is often a typical uncertainty problem, the lack of adequate analysis and logic, and a SWOT analysis cannot provide the specifically, format of strategic advice (David,
...eputation of honesty, quality, and integrity. It is also each employee’s responsibility to report to the company any situation where the standards or the laws are being violated.
The next phase is to analyze and assess the change using the SWOT analysis. SWOT is described as strengths, weaknesses, opportunities, and threats. The strengths within this analysis, based on the changes initiated, determines what the organization can do. The weaknesses, determine what an organization cannot do. The opportunities are the potentially favorable conditions for an organization.
The SWOT analysis: The study of the firm's Strengths, Weaknesses, Opportunities and Threats called SWOT analysis, a key step in flushing out known performance issues that are important to the growth of the organization addressed in the corporation strategic plan. The issues identified in the SWOT analysis help leadership to come up with a plan and strategy to achieve the overall mission of the company (Strategic Planning, n, d). Target Corporation is one of the largest public retailing company in the US having more than 1700 stores serving guests nationwide. Target group and its brand position are evaluated in the market using SWOT analysis.--
Samsung and Apple are among the largest manufacturers and suppliers of smartphones in the current global market. Arguably, the need to produce an advanced cellphone that could do much more than just make or receive a phone call motivated the two companies to improve their products. The progress turned into two almost similar products that could offer the same service as the computer. Apple invented its technology back in 2007 and dominated the market for long, beating products like Nokia. Consumers loved the 1st generation iPhone’s cool screen touch features and multi-touch user interface. Although Apple has been successful throughout its progress in the Smartphone market,
In today society you always hear about how company is conducting themselves ethically. This concept can sometimes help or hurt a company in the worst way possible at times. However, ethical conduct is not only the company’s responsibility but also the individuals. Granted the majority people do have that internal sense of what is right and wrong, that however doesn’t mean that they always listen to that still small voice.
They expand the reach of the internal and external business communications by making use of the various platforms available to allow a swifter and interactive communication. Research and Development is the foundation of what Samsung works on to build on its products. It plays a critical role in the products and services that it delivers to its consumers. It also cuts down on production costs and improves its product quality. Samsung is recognised for its advanced technology that is the driving force behind its inventions. However, Samsung has once tried to cut corners by imitating Apple’s product design that brought lawful and supervisory inspections and troubles for the company. Therefore, Samsung has to work on its own technical foundation to come up with more trouble-free innovations in the
In order to remain competitive with Samsung, Apple has started manufacturing smartphones with larger screens, like the iPhone 6 Plus, closing the gap in Samsung’s competitive advantage. Apple has also launched an initiative to begin purchasing the major components of their iPhones from Samsung’s competitors. In fact, Apple plans to stop purchasing at least 80% of the key components from Samsung by the end of 2017 (Kim). However, the loss of this business from its largest US competitor is not the only issue Samsung is currently
The SWOT analysis is used to gauge a company’s strengths and weaknesses. It also outlines opportunities for tapping and presents possible threats that could affect a company’s operations.
Having a code of ethics leads to improved employee behavior, which is a huge part of culture for a standard company. Because employees are the people who create value for the company, in which way, they need to have honest and candid altitudes to the company. Having a code of ethic is a useful tool to manage an organization’s values, responsibilities, and ethical duties. To make the codes work, companies must put the code of conduct into the business so that employees know how it applies to them. The code is also a way for employees to get advice about ethical problems or concerns. “According to the 2009 National Business Ethics Survey, eighty-nine percent of those polled felt management adequately discussed the importance of ethical conduct. Similarly, 2008-2009 Integrity Survey, published by KPMG Forensic, it was found that ethics programs, including codes of conduct, had a strong impact on how employees felt. Ninety percent of those surveyed who worked in companies with a code of conduct felt they were motivated to do the right thing. This compares with just 43 percent of people who work in companies without strong codes of conduct.” (NCARB) The code of conduct plays an important role in the business no matter
Business nowadays encounter with a lot of moral challenges in today’s global economy. Everyone is thriving to be more successful than their competitors, to make their next profits, to keep their job, to earn a big bonus, or to compete effectively. There exists temptation to bend lines, omit information, and do whatever it takes to get ahead of their competition. Many business employees and executives succumb. Sadly, the theme becomes...