The Global Financial Crisis Of Samsung Essay

The Global Financial Crisis Of Samsung Essay

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Introduction
From the beginnings as a small trading company, Samsung has developed to a world-class corporation with businesses that contains an advance technology, semiconductors, skyscraper and plant construction, petrochemical, fashion, medicine, finance, hotels and more. Those discoveries, inventions and breakthrough products have allowed them to be a leader in these fields, constantly pushing the industries forward.(Samsung, 2016)


Political


In most of the markets where Samsung Electonics operetes, are politicly stable countries. However in the past year the company faced some difficulties in its home country South Korea. Furthermore, at that time Samsung has had to to take into considoration not only the political instability but also the possibility for a war breaking out, which would be an exteream issue for the company. Apart from this, they suffered intense political presure from many Latino American and African countires because of the unstaible political enviromant.


Economic


The Global Financial Crisis by many economist considered one of the worst financial crisis, was the trigger to the failure of many key businesses.In brief, the consumer wealth declines by trillions of US dollars and also contributes to the European sovereign-debt crisis.
As well as other markets the consumer electronics sales also experienced decline as much as 11% every year. However, the mobile phone industry saw the opportunity with the smartphone trend. The phones increased sales as much as 38% from 2011 to 2012. The biggest industries in the world began seeing the mobile industries as a threat. Between 2011 and 2012 with the new innovation of the Galaxy line, Samsung Electronics tripled it’s market share and held over 30% of the wor...


... middle of paper ...


...ices has had exploded, reportedly injuring children, destroying cars, and gutting hotel rooms.This caused them a great deal of troubles, however Samsung was giving out raplecment devices to unfortunate costumers. After the event has occured Samsung gave an interview “We are working with the authorities and Southwest now to recover the device and confirm the cause. Once we have examined the device, we will have more information to share." (Bussines Insider, 2016)












Conclusion


The PESTEL analysis above of Samsung electronics shows that the company is not just about the profits, but also it’s focuses on costumer satesfactons, product qulity and reascherces for furher developents. By being able to meet the needs of thoushands with the unique products they produce, Samsung Electronics has been able to enter the global market and expend the company world wild.

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