A Q1) what key global market strategy has Samsung Electronics implemented to achieve international competitiveness and global

market leadership? ANS) Samsung has implemented number of Global Market strategy to achieve international competitiveness and following are some: 1) For any company to be successful, most important is to set goals, objectives and have confidence level. In the article we have seen that Samsung Electronics have strong Vision and Mission. a) Vision statement charts long term direction of a firm including its core values and purpose. If we analyze their vision statement Lead the Digital technologies to enrich the lives of people, develop new markets and ensure that company remains a trusted market leader, we can see that Samsung Electronics want to lead the Digital technologies and that is not easy having some many good competitors. They are not only interested in local market but also develop new market along the globe and finally they will ensure their products offers safety, longevity in order to remain trusted market leader. All this wishes are not easy and therefore, their main key global success I think is the desire to take tough challenges. b) Mission statement explains the main reason for firm existence and provide strategic planning guidelines. From this article we can see Samsung Mission statement is Best digital e-company by creating industry leading technology products and services, adopting the most up to date efficient management and production procedures, maintain a strong focus on strengthening the company, being a leader in global technology, and being a trusted responsible company. This mission statement also indicate they want to introduce quality products so that have quality control sector, they also have research and development sector so they can adopt most up to date efficient management and production procedures. All this indicate they have strong confidence and resources to deliver the best and this what I think gave them the competitiveness and global market leadership. Without goal everything is useless. c) Finally they have strong objective, which is to become number one in its industry throughout the world, and Korea`s first great global company. They objective need to be achieved by research,

development and quality control; advertising, innovation and all this are forced by the objective of the company. 2) Good governance and transparency: In order to be successful in global market and achieve international competitiveness, another key thing is to have good governance and transparency. Samsung is successful in operating within the framework of good governance and transparency to protect their corporate image and reputation and market share and retain strategic partners. There is saying that it takes years to build up image but one minute to spoil it. Samsung has independent board of director, which governs the company and always maintains transparency with its shareholders. Samsung Board of director consists of nine members of whom two are Samsung executive directors and seven external appointees. Four committees also establish within the board to fast track the deliberations and decision making process of board members. They also have management committee, audit committee the outside director recommendation committee and also internal transaction committee. Moreover their governance is also strengthened through its global code of conduct, which sets companies values and principle. Because of having good company image, keeping shareholder satisfied and future more having transparency in reports Samsung achieved international competiveness and recognition. Since shareholders are happy and feel safe to invest, they agree to buy Samsung Shares even at higher price which Samsung value high and also give global market leadership from their competitor who fails to do similar. 3) Culture: Samsung Electronics is committed to creating knowledge based corporate culture that encourages all of its employee to institute changes, innovation, creative methods and process which cannot be achieved or replicated by its competitors. Values are the basic concepts and beliefs of an organization and in essence are the core corporate culture and it provide employee with a sense of common direction and standards for their everyday behaviors and form the basis of the firms philosophy for achieving successful outcome. Its also important for Samsung to often change their predominantly national culture to one which is more international in outdoor which means they must respect other people culture and avoid using things that has adverse meaning in different culture. Like V sign in USA means victory but in UK, Ireland, Africa the same V sign means insult. 4) Knowledge and Management: Samsung Electronics is a learning organization and is skilled in adapting to changing market conditions and addressing business needs. Samsung conduct regular benchmark meaning identifying firms that are doing something best and learning how to do it. They

benchmark their competitors, supplier, joint venture and trading partners. Doing so they keep up their technology with others. In some cases if they find lack of knowledge among management or employee, they gather knowledge from seminars, engaging consultancy assistance or by reading books. All this makes them up to date with latest technology advances and their brand customers gets latest products so no need for shifting to other brands. Samsung also constantly monitor and reduce cost of production and try to reduce price for end products so that customers can enjoy advance product with less price. Samsung also recognize bringing latest technology in advance so they spend high on research and development department. 5) Partners increase: Samsung always seek to increase strategic alliances meaning corporative partnership arrangement between firms whereby they agree to work together for mutual gain. This not only help them to increase review but more importantly they share knowledge, increase efficiency and reduce cost of production. 6) Corporate social responsibility: Samsung in order to protect their corporate image and brands consider corporate social responsibility. They seek for global talents and then support them by providing resources to provide and produce which will enrich peoples live. They also spend a lot on eco-friendly products. It also aim to have greenhouse gas emissions by 2013. In short they contribute for the society from their profit to benefit the society and also maintain their brand name and image. This will cost them at the initial stage but will bring higher return for future. Above are the points those clearly state why Samsung Electronic achieve international competitiveness and global market leadership. above key global strategies was not implemented in years. It takes time and they will continue implementing more new key global strategies to strength their position, profit, image and products.

Q2 ) What criteria should Samsung Electronics apply to ensure that it selects appropriate joint venture partners? ANS) Strategic alliances is corporate partnership agreement between firms whereby they agree to work together for mutual gain. The definite clearly explain the whole scenario, where business A and B joint together although they retain separate business identities and seek to learn from each other and exchange knowledge, technology, products and skills which would not otherwise be available if they operate alone. Samsung Electronics is a global company operating in many different countries. It will be relatively difficult to operate in all this countries alone. Secondly, they have many different products sectors like electronics, petrochemicals, heavy machinery, ship building, advertising and insurance. They can share different types of products production with different companies based on the skills and productivity ratio. For example some can create the same product at lower cost than others. They can also use unutilized space of another establish company by reducing fixed cost and so on. Following are some point Samsung Electronics may apply to ensure that it selects appropriate joint venture partners: 1) Its never easy to make friend especially in the corporate level. Every firm is interest in self benefit. So the first thing to keep in mind while making joint venture partners is to clearly identify benefits from venture of all partners involved. All benefits should be states before sitting in the

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bargaining table. Both party should clearly understand each benefit from joining. They should clearly mention how the partnership will and in what level they should exchange their knowledge, technology, products and skill and then each partner should measure the degree of difference between the advantages and disadvantage of such share. Either partner or all partners involve should ensure that all should be able to adapt changing environmental and market condition. Also they need to feel comfortable that they will be able to develop prosperous relationship between partners and ability to solve problems and settle difference. They should check their size and capabilities, operating strategies, respective corporate cultures, management practice, policies, philosophies and organization structures. They should also check their safety and political stability and so on. They should try to build partnership with large firms rather than small farms as large firms will offer them more benefits than small firms but partnership with large firms will be more costly and time consuming than of small firms. They should seek for diversification of production to reduce production cost. They should seek for firms producing required product at cheaper price maintain same quality so that Samsung can reduce production cost. Same way they should focus more on producing products they can product in cheaper price than other. Most importantly they should have good papers and documents of the partner agreement contract in order to protect them from fraud or hazards situation in future. Always maintain transparency and be open minded with your partners in order to avoid conflict.