Executive Summary From its inception as a small export business in Korea, Samsung has grown to become one of the world’s leading electronics companies, specializing in digital appliances and media, semiconductors, memory, and system integration. Samsung was founded on March 1st, 1938 by focusing primarily on trade export, selling dried Korean fish, vegetables, and fruit to Manchuria and Beijing. In little more than a decade, Samsung-which means "three stars" in Korean-would have its own flour mills and confectionery machines, its own manufacturing and sales operations, and ultimately evolve to become the modern global corporation that still bears the same name today ("Samsung ," ). During the 1970’s, the company also took steps to enhance its competitive position in the world's textile industry, integrating its manufacturing processes from raw materials to end products. As a result, many new companies were created, including Samsung Heavy Industries Company in 1974 and Samsung Shipbuilding and Samsung Precision Company (now Samsung Techwin) in 1977. Another burst of growth for Samsung came from the burgeoning home electronics business. Samsung Electronics, already a major manufacturer in the Korean market, began to export its products for the first time during this period. Samsung's also acquired a 50 percent stake in Korea Semiconductor, further solidifying Samsung Electronics' position as a leader in semiconductor manufacturing ("Samsung ," ) During the Mid 90’s, came about the Asian financial crisis. The Asian financial crisis was a period of financial crisis that gripped much of East Asia, and raised fears of a worldwide economic meltdown due to financial contagion. The banking sector was burdened with non-performing loans... ... middle of paper ... ...ctronics vows more aggressive investment, targets tablets. Retrieved from http://profit.ndtv.com/news/corporates/article-samsung-electronics-vows-more-aggressive-investment-targets-tablets-371454 Russel , J. (2013, May ). Samsung targets business customers with new marketing campaign across 9 key countries . Retrieved from http://thenextweb.com/asia/2013/05/02/samsung-targets-business-customers-with-new-marketing-campaign-across-9-key-countries/ Samsung . (n.d.). Retrieved from http://www.samsung.com/us/aboutsamsung/samsung_group/history/ Scholasticus , K. (2013, Jan). Economic factors affecting business . Retrieved from http://www.buzzle.com/articles/economic-factors-affecting-business.html Wakabayashi, D. (2013, July ). Samsung, apple crush asian competition. Retrieved from http://online.wsj.com/news/articles/SB10001424127887324136204578639420880418016
The Savings and Loans Crisis of the 1980’s and early 90’s created the greatest banking collapse since the Great Depression in 1929. Over half the S & L’s failed, along with the FSLIC fund that was created to insure their deposits.
Samsung as a company was founded in 1938 in Korea. 46,500 employees are working at six Samsung Electronics facilities in Korea. Although they are at different locations, all share the same goal and that goal is satisfying global customers by producing a quality product. Here in the U.S. Samsung is a very recognized brand, sitting along side Sony, Panasonic, Phillips, Toshiba, Matsushita and other more know brands of TVs. In South Korea, Samsung was a governmentally subsidized large business until in the 1990’s. In the mid 1990’s one of the most significant threats to Korean corporations was that their major advantage in low labor cost had been deteriorating against the labor costs in many of the competing Southeast Asian countries. The average wage of $1,144 a month that Korean workers earned was one of the highest wages paid in Asia outside of Japan. Korea had been the low cost labor supplier until the point at which The Peoples’ Republic of China entered the competition for manufacturing of color TVs. The low cost of labor in China would cause Korea’s position being the lowest cost provider to be a position that was in danger. The Korean government at this point was discontinuing subsidies and export credits to Korean manufacturers and at this time the Korean products which had been the low end market
Benetton is clothing company founded in 1965. In the space of 50 years they grown to be a global brand with 10,000 employees working in 120 countries through 6,000 stores.
Royal Philips Electronics of the Netherlands began as a small light-bulb factory in Holland, and by the turn of the century, was one of the largest producers in Europe. One-product focus made Philips a leader in industrial research which stimulated product innovation. Consequently, product line was broadened significantly and the flow of exciting new products and ideas continued through the years. Limited domestic market soon forced Philips to grow internationally. The foundations for what was to become one of the world's biggest electronics companies were laid.
The main Chaebol including Samsung, Hyundai, LG, SK. In 2011, Samsung occupied for 21.9%, modern occupied for 12.6%, SK occupied for 11.7%, LG occupied for 9%, which is more than half of Korea GDP. It shows that Chaebol has a important position in Korean which is unshakeable. Besides, the dominance of the chaebol family is getting stronger and stronger. Their internal shareholding ratio (the proportion of insider holdings), Samsung 47.5%, Hyundai was 49.2%, SK was 64.6%; LG was 44.3. It found that they have a strong family dominance.
SM entertainment one of the worst company of South Korea, is an independent record label, talent agency, producer, and publisher of pop. It is also known to be a slave home because of the way that artist are being treated, which most people don 't know about the CEO Kim Youngmin, is the one who is in charge even
Samsung Electronics is the world leader in the production of semiconductor and telecommunications equipment as well as in digital convergence technologies. In the 87 offices of the company in 47 countries work about 70,000 people. The company consists of four main units: Digital Media Network Business, Device Solution Network Business, Telecommunication Network Business and Digital Appliance Network Business.
Electronic Applications was found in 1972, its headquarters are on San Francisco and it is a major producer of silicon chips. The company’s sales, profit and stock price have grown fast on the past years while the human resources policies have remained unchanged.
From Korean Pop stars to dramas, South Korea has it going on. It seems that there is not one Asian country that has not had the Korean Wave, a Chinese term given to South Korea referring to the exportation of their culture, completely wash over it. What started as an Asian sensation, the Korean Wave is now beginning to spread globally, ranking South Korea as one of the top countries known for its exportation of culture. Between music, television, and video games, South Korea’s economy is rapidly increasing as the world continues to fall in love with its entertainment industry.
Samsung Electronics Company (SEC) began doing business in 1969 as a low-cost manufacturer of black and white televisions. In 1970, “Samsung acquired a semiconductor business” which would be a milestone that initiated the future for SEC. Entering the semiconductor industry would also be the beginning of the turnaround phase for SEC. In 1980, SEC showed the market its ability to mass produce. SEC became a major supplier of commodity products (televisions, microwave ovens and VCRs) in massive quantities to well known original equipment manufacturers (OEMs). For this reason, Samsung was able to easily transition into a major player in the electronic products and home appliances market (Quelch & Harrington, 2008).
In the mid 1970s, it had ventured into shipbuilding, but Lee’s death made it to be separated into four business groups that include: Samsung Group, Hansol Group, CJ Group and Shinsegae Group which has driven it into immense growth making it the one of the best companies today.
Have you heard about Xiaomi? Xiaomi is a Chinese technology company, and it was founded in April 6, 2010 by entrepreneur Lei Jun. He became one of the China’s top 20 richest person with net worth US$ 9.1 billion after four years that Xiaomi was founded(Olson, 2014). Therefore, Xiaomi was expending very rapidly. Up to now, the company produced smartphone hardware, software, and internet services as well as accessories. Xiaomi not only hires Chinese technical talents, but also recruit international talents. For example, it hires smart and talented people who worked for Google, Microsoft, Motorola, Yahoo and other successful technology companies around the globe before. Xiao has over 8,000 employees, mainly in mainland China, Malaysia, and Singapore, and is expanding to other countries such as India, Indonesia, the Philippines and Brazil. In 2014, more than 60 million smartphones were sold worldwide, and Xiaomi earned $12 billion revenue as a result. Xiaomi becomes the third largest smartphone producer in the world currently. In addition, after Xiaomi successfully secured $1.1 billion investment with a company valuation of $45 billion, it has achieved the status of the most valuable technology start-up in the world
Management Efficiency: During the 80s, the company’s refocus to manufacturing quality and technical leadership and profits reinvestments in R&D, state-of-the-art manufacturing, and supply chain activities helped the company to grow in a great extend. This management vision was not only upgraded the company’s products to compete in the high-tech electronics industry but also gave foundations of its global brand awareness.
The 1997 Asian financial crisis was a disaster that obsessed much of Southeast Asian countries. The financial crisis began in July 1997, and rose to worldwide economic meltdown due to financial contagion. Thailand, Indonesia and South Korea were the most affected by the financial crisis. Hong Kong, Malaysia, and the Philippines also had abundant negative effects by the financial disaster. China, Singapore, and Vietnam were less affected, however, they also suffered from the crisis, which leads the citizens lost their faith of the economy at that period.
Private, foreign investments were encouraged. This was the starting point of forex to pour in. Easing the Norms for the investment, reduction in duties and deli censing of several consumer electronic products marked attraction of foreign investors. The domestic circle response to this was also favorable to the government policies. Allowing this industry for the private sector enabled entrepreneurs build industries to meet suppressed demand. Improvements in this industry have not been only to a particular area but in each and every process right from acquiring the raw materials to the packed product. Long steps have been made in the area of consumer products, communication, biomedical instrumentation, networking and defense. This resulted in significant market growth by late 1990’s. The sales of some basic units increased three-fold .the main area of focus has now turned to design, Compact packing and to provide vale added service.