Punga Vladut Georgian

Management,an 1,gr.3

Samsung's vision for the future

Content:
1. Brief history of the company
2. Visions about the future
3. The vision for 2020
4. Samsung’s Mission Statement
5. Samsung’s Vision Statement
6. Samsung’s Corporate Mission & Corporate Vision
7. Conclusion
Punga Vladut Georgian
Management,an 1,gr.3

Brief history of the company

Samsung is a South Korean multinational conglomerate headquartered in Samsung
Town, Seoul.It comprises numerous affiliated businesses,most of them united
under the Samsung brand, and is the largest South Korean chaebol.
Samsung was founded by Lee Byung-chul in 1938 as a trading company. Over the
next three decades, the group diversified into areas including food processing,
textiles, insurance, securities, and retail.
Notable Samsung industrial affiliates include:
Samsung Electronics - the world's largest information technology company,
consumer electronics maker and chipmaker measured by 2017 revenues.
Samsung Heavy Industries - the world's 2nd largest shipbuilder measured by
2010 revenues.
Samsung Engineering and Samsung C&T - respectively the world's 13th and
36th largest construction companies.
In 2000, Samsung opened a development center in Warsaw, Poland. Its work
began with set-top-box technology before moving into digital TV and
smartphones.
In 2010, Samsung announced a ten-year growth strategy centered around five
businesses. One of these businesses was to be focused on biopharmaceuticals
In first quarter of 2012, Samsung Electronics became the world's largest mobile
phone maker by unit sales, overtaking Nokia, which had been the market leader
since 1998.
In 2015, Samsung has been granted more U.S. patents than any other company –
including IBM, Google, Sony, Microsoft and Apple.

Visions about the future

Punga Vladut Georgian
Management,an 1,gr.3

Regarding samsung's vision of the future, they claim that they have 2 main
principles with separate objectives for the global development and improvement of
the services and products they create.
Starting with the first goal, namely its philosophy and objectives, Samsung claims
that their business philosophy is simple and is based on dedicating the resources
and technology they have to create superior products and services, helping to
create a better global society, but to achieve This set Samsung a high value
threshold for its own people and its own technologies.
Thus Samsung has set 3 major sub-objectives in terms of essential elements of
human resources management, internal goals for creating the best products and
services and strategic objectives to contribute to society.
So starting with the first sub-objective, namely the essential elements in human
resources samsung wants to expand the development of human resources and
technical superiority with management principles but also increase the synergistic
effect of the entire management system through human resources and technologies
Pursuing the second sub-objective, more precisely that of internal purposes, they
claim that they want to create a set of products and services that will provide
greater satisfaction to customers and at the same time retain the first position in the
world in this sector of activity.
Starting with the third sub-objective that specifies the contributions to society, they
have developed a plan in which they want to actively contribute to the realization
of the common interests of all people around the world by inspiring a richer life in
all respects
Turning our attention to the second goal, namely the "Samsung spirit", it is based
largely on the values that define this Samsung spirit, values that are 5 in number.
Starting with the first value, namely the people they consider that within the
company people are the most important and from their point of view they are
permanently dedicated to providing a wide range of opportunities so that people
reach their full potential.

The second value supports excellence which is based on a burning and permanent
passion for excellence but also on a firm commitment to develop the best products
and services on the market.
Punga Vladut Georgian
Management,an 1,gr.3

The third value concerns the change that has taken place since the founding of the
company, claiming that this value is one of the most important for the company as
it moves towards the future anticipating the needs and market demand to guide the
company to long-term success.
The fourth value is based on the integrity representing an operation according to
ethical norms, all actions being directed by a moral compass that ensures a fair
treatment and respect for all stakeholders, as well as complete transparency.
Final value is defined by "Samsung's well-being" by representing a socially and
environmentally responsible corporate citizen in all its communities around the
world.
The vision for 2020
Regarding vision for 2020, the basic principle that defines the future vision of
Samsung Electronics is "Inspire the World, Create the Future"
This vision is at the heart of our commitment to innovating in technology, products
and solutions to inspire communities around the world to join our aspiration to
create a better world full of rich digital experiences. Aware of our responsibility as
a creative leader in global society, we have dedicated our efforts and resources to
delivering new values to industry and customers while sharing values with
employees and partners. At Samsung Electronics, we want to create a fascinating
and promising future for everyone.
In order to have an indicator of common understanding, as well as a measurable
goal, we have incorporated a set of specific goals into our vision. By 2020, we
want to reach annual sales of US $ 400 billion, bringing the total value of the
Samsung Electronics brand to the top 5 in the world. Three strategic principles,
which are now part of our culture, activities and management, describe the most
important initiatives in this regard: "Creativity", "Partnership" and "Extraordinary
People".
We pride ourselves on providing the best products in the world through functional
excellence and excellence in innovation. As we look to the future to explore new
areas of activity that include health care and biotechnology, we are excited about
the new challenges and opportunities that open up for us. Samsung Electronics will
continue to build new skills and experiences over current achievements to further
develop its competitiveness and history of innovation.
Punga Vladut Georgian
Management,an 1,gr.3

Samsung’s Mission Statement

Samsung’s mission statement is “We will devote our human resources and
technology to create superior products and services, thereby contributing to a better
global society.”
Based on its business operations and current international industry positioning,
Samsung focuses on the following components in its corporate mission:
1.Human resources and technological resources
2.Superiority of products and services
3.Improvement of the global society
In its mission statement, Samsung identifies human resources and technology as
the two main assets that it uses to pursue its purpose and strategic objectives in its
global industries.
On the other hand, superiority of products and services is at the core of fulfilling
the consumer electronics company’s corporate mission.
In a way, this component of the mission statement pushes the corporation to ensure
an effective value chain and achieve its value proposition, such as effective and
high quality consumer electronics.
Samsung’s Vision Statement
Samsung’s corporate vision is to “Inspire the world with our innovative
technologies, products and design that enrich people’s lives and contribute to
social prosperity by creating a new future.” The company follows this vision
statement to maintain profitable technology business operations that contribute to
the improvement of people’s lives.
The following components are contained in Samsung’s vision statement:
1.Global inspiration
2.Innovation
3.Improvement of lives and future social prosperity
Punga Vladut Georgian
Management,an 1,gr.3

Based on its vision statement, Samsung’s strategic objectives include the

development of products that inspire. This inspirational aspect requires the
company to consider local and regional market conditions to ensure that its
technological products actually inspire people despite differences in their societal
situations.
Samsung’s Corporate Mission & Corporate Vision
Samsung’s corporate mission leads to strategic goals for high quality products
and corporate citizenship. Technological innovation is implied as part of this
mission statement. Also, the inclusion of human resources in the mission statement
puts emphasis on the organizational culture, as well as how Samsung’s corporate
structure is designed to support innovation and operational effectiveness for global
improvement.
Based on these factors of the corporate mission, it is recommended that the
company continue enhancing its talent pool, which is a critical success factor that
supports the innovation necessary for developing and producing high quality
products for the consumer
Samsung’s corporate vision is that of a business organization that plays a major
role in satisfying the needs of the global society. For example, the company sees its
technological products as enrichers of lives and contributors to social prosperity.
To achieve this corporate vision, it is recommended that strategic management
must drive the enterprise to new heights in improving current product offerings and
offering new products, as well as intensifying the strengths shown in the SWOT
analysis of Samsung.
Conclusion
My conclusion regarding Samsung Electronics visions about 2020 but especially
for the future is that this is a very large margin a revolution of the whole world
through technology to take care at this time or to extend further, by constantly
updating the requirements and needs of the population and through the speed of
adaptation of the new trend in the field of software and everything that continues
this.
I also believe that they have moral principles and values of care or to help them
maintain the number 1 position globally in electronic products.
Punga Vladut Georgian
Management,an 1,gr.3