INTRODUCTION

The proliferation of globalization is becoming progressively more common among

businesses due to the abundant chances it provides for companies to strengthen their
brands, enhance business and broaden the markets in multiple nations. Despite the fact
that contemporary international enterprises are proliferating and flourishing, they have
encountered numerous obstacles due to contemporary global tendencies and
modifications in the states in which it operates.
This report will conduct an analysis of Samsung Corporation, one of the biggest
technology-based corporations investing in Vietnam. The report begins with an overview
of key factors driving globalization and demonstrates potential opportunities and
challenges businesses may encounter. Besides, the current operating situation of Samsung
is analyzed with regard to its investment in the Vietnamese market.
Contents
No table of contents entries found.
1. Samsung
The South Korean multinational electronics corporation Samsung Corporation is
one of the major foreign investors in Vietnam. In 2008, Samsung opened a facility in the
province of Bac Ninh to manufacture mobile phones and other electronic devices. In
2018, Samsung's exports from Vietnam generated nearly $60 billion, making it the
country's largest exporter. Tens of thousands of employees have been generated by
Samsung's investments in Vietnam, contributing to the country's economic growth and
development (Samsung vn, 2023).
The operations of Samsung in Vietnam are an excellent illustration of how a
multinational corporation can leverage globalization to expand its business and generate
value for both itself and the host country.
2. Key factors driving global commerce and trade
In all aspects of life, such as society, culture, and technology, globalization refers
to the close, profound, and rapid connection between nations around the world (Held et
al., 1999). According to Theodore Levitt (1983), globalization drivers include economic,
political/regulatory and technological. Market, Cost, Government and Competitive are
also considered the main drivers of globalization (NEU, 2023) and these factors in
relation to globalization trends will be analyzed and evaluated as follows:
*Cost
+) Economies of scale and scope
Globalization is the consequence of economies of scale, the cost advantage
resulting from a product's increased output. The inverse relationship between the quantity
produced and per-unit fixed costs gives rise to economies of scale (Mcdonald, 2017).
Reaping benefits from economies of scale has recently become a trend (Mauler et al.,
2021). Economies of scale occur as a company specializes and is able to produce more
products with decreasing input costs. Scale economies are the natural consequence of
specialization and labour division. It is one of the primary economic development
generators (Investopedia, 2023). However, firms do not enjoy economies of scale
indefinitely; operations may occasionally extend too far, and there is a maximal degree of
effective output for any given inputs, resulting in diseconomies of scale (Investopedia,
2023). Another trend is the advances in transportation thanks to the emergence of
newly industrialized countries with productive capability and low labour costs. Improved
transportation systems have made it possible for FDI companies to operate in many
nations and transport raw materials and finished products to their production facilities
with relative ease. Specifically, operations and close relations with suppliers and
customers of FDI companies have now been facilitated and maintained thanks to
advancements in air travel, thus contributing to the globalization of businesses (The
Geography of Transport Systems, 2017). The different costs of production in each
country is another factor that drives globalization. It has given businesses an incentive to
develop, not only in one country but in other countries with cheap labour costs and raw
materials to enhance their output efficiency (NEU, 2023).
=>Evaluation
Samsung takes opportunities from economies of scale, as they have over 80 years
of market experience, creating a barrier for new competitors. Additionally, the emergence
of developing economies is advantageous for Samsung because it allows them to operate
in countries with minimal production costs, including Indonesia, India, and Vietnam.
Currently, the average monthly income of Vietnamese employees is 275 USD, which
represents an attractive and competitive labour cost. Besides, employees are trained to
better their education and skills, making Vietnam a more desirable destination than other
nations in the region (Duong, 2022).
However, Samsung confronts the challenge of fierce competition in the
technology industry due to the fact that global businesses gain a cost-based competitive
advantage. The company is under a lot of pressure from promising Chinese brands like
Huawei, Xiaomi… or the US like LG, Lenovo,… with competitive prices. At that time, it
will be challenging for the business in terms of differentiation because reducing costs to
compete on price will impede their product's breakthrough.
*Market
 A characteristic of globalization is the constant convergence of consumer
requirements. Customer behaviour and the trends of consumption are shown by the
market factor (Business LibreTexts, 2020). In recent years, the market for consumer
electronics has expanded significantly, primarily due to technological advancements
and an increase in customer demand (Howard, 2023). Besides, the smartphone
market currently constitutes the most lucrative segment of the consumer electronics
industry, accounting for a significant share of the market. Several trends are currently
influencing the market for consumer electronics, namely IoT, 5G technology, AI and
sustainability (Howard, 2023).
=> Evaluation
Samsung has benefited from the opportunities created by globalization’s market
drivers. The increase in customer demand helps to develop the diversification of
Samsung Electronics' products, leading to increased sales and market share of the
company in different markets (Lee and Folkmanis, 2013). Besides, with technical
expertise and leading-edge innovation, Samsung continues to lead the global TV market
for 17 consecutive years (Samsung, 2023).
Nevertheless, the cultural and practical characteristics of each individual are
different. Therefore, Samsung also confronts the challenge of conducting market
research to serve diverse customer segments, as some customer groups are dissatisfied
with the Samsung Internet application. Besides, a number of prominent phone companies,
including Apple, Huawei, and LG, are making swift advancements, which presents
Samsung with numerous challenges. For instance, LG Chem has recently introduced a
new foldable display technology, which it claims is immensely superior to existing glass
displays, especially those manufactured by Samsung (Parker, 2019).
*Environment
Three globalization-related megatrends classified by the United Nations include
accelerated technological advancements, production and labour market adjustments and
climate change (United Nations, 2017). The global trends related to the geographical
environment and legal environment will be analyzed in this part. Regarding the
geographical environment, green growth, green development and circular economy
have become a global trend as a positive solution to reduce greenhouse gas emissions,
climate change, towards goals of carbon neutrality and sustainable development. This
development trend has formed a new "rule" on trade and investment (Hong Dien, 2022).
Additionally, environmentally friendly and sustainable products are growing in
acceptance as a new trend in global consumption. In terms of the legal environment, the
influences of the national government’s policies on globalization will be analyzed. The
trade liberalization process and international integration are proportional. Several
regional and global trade agreements related to the process are AFTA, EU and WTO. The
WTO agreement is mutually binding, and the member nations are required to adhere to
certain obligations regarding the elimination of tariff and non-tariff barriers (Turksen,
2022). Additionally, national governments support globalization by implementing
universal technical standards to maintain a balance in the calibre of standards goods,
such as those that comply with ISO or IEC (ISO, 2013). Antitrust and data privacy have
also been appealing issues regarding the legal environment.
=> Evaluation
Samsung has taken opportunities from the utilization of environmentally-friendly
materials to help conserve energy, water and resources, thus creating the company’s
sustainable value chain (Samsung, 2014). Furthermore, as Samsung is one of the industry
leaders in developing environmentally conscious technological products, the tendency
of green product consumption also presents prospects for the company (Samsung,
2020). Because of the shift in consumer behaviour, Samsung might be able to attract
more customer segments in the market. Besides, favourable conditions for Samsung
to expand its market have also been fostered thanks to the national government's
economic opening policies.
However, the company might face obstacles as sustainable policies to safeguard
the environment incur numerous additional expenses. The company is unable to bear all
of the expenses and must spread it across suppliers, manufacturers, customers,… ,
requiring agreement and a high degree of shared responsibility the stakeholders and
the company. Besides, the opening of economies by nations and regulations of antitrust
or data privacy might generate intense competition for imported technological
products. Ongoing disputes over patents with rivals such as Apple might lead
to monetary penalties and diversion from core business operations (The Strategy Story,
2023).
*Competition
First, the trade level of the technology-electronic industry remains generally
high in Asia. Asia is known as a global technology hub, with many countries in the
region being major players in the technology industry, including China, Japan, South
Korea, Taiwan, and Singapore, among others (Cortada, 2012). Besides, another trend in
competition that drives globalization is that more electronic companies are becoming
globally-centred rather than nationally-centred. Huawei, headquartered in China, is an
example of a globally-centred technology company. China-based Huawei is yet another
example of a globally-focused technology corporation. Huawei is a prominent global
provider of telecommunications equipment, networking solutions, and consumer
electronics, with a significant presence in numerous countries like USA, Sweden, UK,
Vietnam,… Mastery of technology is another competitive advantage that every
company requires to compete on the global market (Farida and Setiawan, 2022). To
remain competitive, electronics businesses continuously upgrade their products by
inserting more cutting-edge technologies, foster marketing activities and distribute
new ones, thereby expanding their product range.
=>Evaluations
Samsung, like other industry participants, benefits from the rising demand from
customers, which is advantageous for increasing sales and concentrating on
developing in Asian market. The company has also endeavored to strengthen its brand by
diversifying and differentiating its electronics products in order to remain competitive
in the global electronics industry.
However, Samsung has been faced with a significant challenge as a result of the
emergence of numerous competitors in the industry with the same goal of becoming
global businesses like LG, Xiaomi, Huawei, Sony, Lenovo,...This forces the company to
distinguish itself from rivals through superior product quality management, distribution
channels and supply chain to remain the position in the market.

3. Strategic opportunities and challenges associated with operating in a global

environment
Samsung, one of the greatest technology corporations in the world, has a
substantial presence in Vietnam. The company has been active in Vietnam for more than
a decade and has made substantial investments in a variety of business sectors. An
overview of Vietnamese business environment will be provided to conclude the
challenges and opportunities of the company. Besides, the operational effectiveness and
the supply chain strategy of Samsung in relation to global environment will also be
evaluated
*PESTLE analysis
+) Political
Stability is a signature of Vietnam's political situation. Vietnam has only one
domestic party, the Communist Party of Vietnam. The objective of Vietnam's foreign
policy is to be a "companion and dependable associate of all nations in the international
community." (United States Institute of Peace, 2022). Vietnam has diplomatic ties with
more than 170 nations, including all of the world's main powers. Additionally, Vietnam
also has a rapid rate of global economic integration (Vietnamembassy-usa.org, 2023).
=> Political factors are generating opportunities for the development of
Samsung Vietnam. Vietnam's political stability helps maintain business security and
growth while certain other nations have been facing political and diplomatic
instability. Besides, the rapid integration of Vietnam also facilitates Samsung's market
expansion.

+) Economical
 As services growth moderates and higher prices and interest rates impact on
households and investors, Vietnam's economic growth is projected to slow to 6.3% in
2023, down from 8.0% in 2018 (World Bank Group, 2023). The most recent data from
the General Statistics Office (GSO) indicate that Viet Nam's economic recovery
remains unstable. The socioeconomic climate of the first quarter of 2023 was
characterised by complex fluctuations and instability in the global economy. Even
though global inflation has moderated, it remains high, and fluctuations in the
consumption demand of major trading partners continue to impact the Vietnamese
economy (vietnamnews.vn, 2023). While inflation in Vietnam increased in 2022 (reached
4.3% in October), that in 2023 is predicted to only be around 3.5% (Anh Tuyet, 2023).
Besides, the labour cost in Vietnam has increased as a response to inflation forecasts in
2023 (vietnamnews.vn, 2023).
=> The global macroeconomic environment in which Samsung operates is
uncertain and unpredictable, necessitating a reorientation of the company's strategies.
By expanding into emerging and developing markets, the company has adjusted quite
well to progressively reduce its reliance on revenue from consumers in developed
countries. Besides, Samsung's production costs in Vietnam could be impacted by rising
labour costs, threatening the company's cost competitiveness and profitability.

+) Social
The population of Vietnam has been estimated to be almost 100,000,000 recently
(Worldometers.info, 2023). There are 60% of Vietnam's population is between the
ages of 15 and 64 (Countrymeters, 2022), which helps Vietnam attract foreign investors
in labour. It can be seen that the popular electronics trend in recent years is compact
designs such as folding phones, AR glasses, ... (VOV.VN, 2022). In the field of phones,
the proportion of smartphones with basic phones is growing annually. By 2021, the
proportions are already 80% and 20%. In the TV market, Vietnamese customers prefer
the new model, which supports 4K, showing that Vietnamese people tend to prefer high-
end products and are willing to spend a lot of money on technological devices
(VnExpress, 2022).
=> Regarding opportunities, the expanding population increases the number
of potential Samsung customers. Additionally, the Vietnamese market provides a
significant number of labour to the company. The challenge, however, is that
Vietnamese consumers tend to favour expensive, high-tech products, requiring Samsung's
continuous innovation and introduction of new technologies in response to customer
demands. Samsung will then develop strategies to contend with other industry players
and attract customers.

+) Technological
In Vietnam, not only is digital transformation a trend, but it is also a necessity
for enterprises. Digital transformation has been thriving among businesses with
aggressive digital transformation applications to maintain maximum production and
business operations. The model of the digital economy has been prioritized. Particularly,
Vietnamese digital tech companies have affirmed their pioneering role in R&D,
innovation, and technology mastery, making significant contributions to the growth of the
digital economy (Thu Ha, 2023). Besides, in Vietnam, technologies like EMS, CAM,
CAD,… are frequently employed in the production of technological devices. Vietnam
has established a foothold in the world of high-tech manufacturing and is gaining
prominence as a destination for multinational corporations diversifying their supply
chains away from China (VnExpress, 2022).
=> Samsung Vietnam has an opportunity to expand its digital sales besides
selling through retail stores due to the trend of digital transformation and the rapid
adoption of customers to technology. However, Samsung confronts challenges when
other technology brands, such as Intel in semiconductor technology (Min-hee, 2022)
and Apple in smartphone manufacturing, are also on the verge of robust research and
development in technology.
+) Legal
The legal environment of Vietnam has improved throughout recent years. The
State of the Socialist Republic of Vietnam shall secure the ownership rights over
investment capital and other lawful interests of foreign investors by establishing
favourable conditions and expeditious procedures for foreign investors to invest in
Vietnam (thuvienphapluat.vn, 2016). Pursuant to Appendix I of Decree 118/2015/ND-
CP, the electronic component manufacturing industry is on the list of industries eligible
for investment incentives (thuvienphapluat.vn, 2019). Besides, Vietnam's Intellectual
Property Law governs the protection and enforcement of intellectual property rights.
Companies, including technological and electronic firms, are required to comply with
intellectual property laws and protect their intellectual property rights in accordance
with applicable laws and regulations (thuvienphapluat.vn, 2019). Additionally, the
government has also implemented Decree No. 38/2022/ND-CP regarding the increase
of the minimum wage of workers (Minh, 2022).
=> The investment incentives in Vietnam can providing growth and expansion
opportunities for Samsung. Besides, the strengthened IP law in Vietnam provides
Samsung with opportunities to protect its intellectual property rights and prevent illicit
use or infringement. Nonetheless, the rise in labour costs can pose difficulties for
Samsung's HRM and labour cost management strategies. Additionally, assuring the
effective enforcement of intellectual property rights could also be a challenge for
Samsung, as the company might still encounter counterfeiting, IP disputes,...

+) Environmental
In tandem with its rapid social and economic development, Vietnam is confronted
with a number of environmental pollution issues, which are primarily caused by
transportation, agriculture, and industrial production (USAID, 2022). Consequently,
Vietnamese customers are growing more conscious of environmental protection and
prioritising the consumption of green products, as well as embracing sustainability.
However, the production of electronic devices can generate electronic refuse (e-waste),
which consists of discarded electronic products, components, and materials, and
contribute to climate change in various ways, such as energy consumption-related
greenhouse gas emissions (Kizuna, 2019).
=> Samsung may find market opportunities in the increasing demand for
environmentally friendly products, such as energy-efficient appliances, and sustainable
manufacturing processes (Samsung, 2020). However, common natural disasters such
as typhoons, floods, and landslides also create challenges for Samsung operations in
Vietnam. Transportation network disruptions, power interruptions, and facility and
infrastructure damage can affect Samsung's production processes, supply chain, and
logistics.

*Samsung’s strategies
+) The risks stem from operational activities in the context of the Vietnamese
business environment
Samsung may confront a number of strategic risks in the Vietnam market. The
risks in terms of environment, competition and customers behaviours will be analyzed as
follows:
+ Environment
Vietnam is vulnerable to the effects of climate change, such as rising sea levels,
extreme weather events, and shifting patterns of rainfall. Natural disasters can lead to
production downtime, damage to facilities, and disruptions in the flow of components
and finished goods, posing risks to meeting customer demands and maintaining business
continuity (Nam, 2013). This might lead to supply chain disruption of Samsung,
regarding transportation issues. Besides, in its company located in Thai Nguyen,
Samsung generates tens of thousands of cubic metres of solid waste and industrial sludge
each month. Consequently, there was a period when Samsung's environmental treatment
companies discharged toxic sludge into the natural environment, influencing the
company's reputation and product quality (Baothainguyen.vn, 2016).
 + Customers behaviors
Consumer behaviour models suggest that consumer buying behaviour usually goes
through 5 stages before and after purchase including need recognition, information
search, evaluation of alternatives, purchase decision and buying behaviour (Kotler and
Keller, 2012). The consumer electronics industry is characterised by rapid technological
advancements, and consumer preferences are susceptible to change rapidly
(CustomerServ, 2022). Vietnamese people are among the most "disloyal"
smartphone consumers. Nielsen reported that 49% of users when asked about their
phone upgrade plans, are willing to switch to a new device within the next 1-2 months if
a suitable product is available. In recent years, about 60% of users stated they had no
plans to upgrade their smartphones (Dan tri, 2018). If Vietnamese customers tend to
switch to other brands or products due to changing preferences, Samsung may lose part
of its market share and revenue.

+ Competition
Competition on the Vietnamese technology market is intensifying. Foreign
corporations can now enter Vietnam thanks to free trade agreements. Fitch Solutions
estimates that roughly 65% of foreign electronic companies have production bases in the
Northern provinces, 30% in the Southern provinces, and a minor percentage in the
Central provinces. Numerous well-known and large-scale electronic companies, such
as Fuji Xerox, Compal, Canon, and Samsung,... are now headquartered in Northern
industrial zones (The Ministry of Finance, 2021). Besides, In terms of technology,
Samsung has faced intense competition from Apple, Huawei, Xiaomi, and many other
technology companies. This is a significant risk for Samsung regarding market share,
sales, intellectual property, copyright, particularly in areas like mobile phones,
tablets, and televisions. It can be seen that Samsung has competed simultaneously with
businesses in the technology sector and also in the electronics sector.
+) Samsung’s strategies in Vietnam
Samsung had researched cautiously before entering the Vietnamese market.
Samsung identified that Vietnamese people's consumer habits are fond of using good
quality products with prices that match its quality: "you get what you pay for", and
Vietnam's electronics market is dominated by Japanese products. In the early years of its
market entry, when selling a new product in a new country, Samsung employed a
Market Development strategy and adapted its products to meet market demands.
Samsung provides consumers with brand-new, high-quality, market-appropriate products
without ever reintroducing obsolete ones, consequently gaining the customers’ trust.
Samsung established its first mobile phone factory Samsung Electronics Vietnam (SEV)
in Bac Ninh in 2008, then expanded the construction of Samsung Electronics factory in
Thai Nguyen (SEVT), as well as the R&D office in Hanoi in 2022 (Công Hiếu, 2022).
Besides, Samsung has built a distribution network through official distributors such as
Phu Thai company, Viettel, PSD,…, retail stores and e-commerce platforms.
Additionally, Samsung also employs a Differentiation strategy and prioritises
product diversification. Each of their smartphone lines has a unique, masculine,
durable, yet also supple and flexible appearance. In 2010, Samsung also stunned
Vietnamese consumers with laptops that were evaluated as "applying numerous advanced
technologies" and as "digital jewellery" which is a typical example of increasing market
share as a result of differentiation. Then the company launched 3 new laptop
models targeted at active youth, Samsung has been reaffirming its commitment to
providing users with optimal options (Dan Tri, 2010).
Besides, Samsung attaches itself to the growth and the concern of society,
typically through the #TeamUnstoppable campaign in 2021 and the Heart-to-heart
programme in 2011... (Samsung, 2021). By collecting products that have reached the end
of their life, Samsung recovers valuable materials, consequently reducing the amount of
natural resources needed for production, greenhouse gases and pollutants from waste
incineration. This has brought them closer together than with Vietnamese consumers
(Samsung, 2023).
 Throughout the production process, the company has also implemented a
localization strategy, strived to use domestically sourced raw materials, components,
accessories, and supplies in order to increase the localization rate of its products and the
proportion of value created in Vietnam (TUOITREONLINE, 2017).

+) Supply chain flow of Samsung in Vietnam

Figure 1. Samsung's supply chain flow

Figure 1 illustrates the supply chain process for Samsung's electronic and mobile
products, from raw materials to product distribution to consumers. The interesting aspect
of the company's supply chain is that Samsung has utilized Vietnamese raw materials and
manufactured in Vietnamese factories, thereby increasing product localization. The way
Samsung maintain its supply chain relationships will be analyzed in this part.
+ Relationship with suppliers
Samsung Vietnam maintains support for domestic suppliers. Recently, the number
of Vietnamese tier-1 suppliers for Samsung increased from four in 2014 to approximately
50. In 2020, Samsung organized a 10-week program to encourage Vietnamese businesses
to participate in its supply chain of components and accessories. A number of Vietnamese
companies, including Zion Plastics Joint Stock Company, Co. Vietnam Autotech
Machinery Joint Stock Company,... participated in the program (vietnamnews.vn,
2023).Viet Hung Plastic Co., Ltd. is one of Samsung's first suppliers in Vietnam,
presently supplying two items: plastic containers and packaging. All electronic phases are
only permitted to be in stock for a short time due to Samsung's rigorous evaluation of
machinery and technology. Therefore, the supplier has to deliver the products properly.
Samsung's supply chain is open and transparent to all businesses, but participation
requires extensive verification to ensure the maximum quality of the products
(Vsi.gov.vn, 2023).

+ Relationship with distributors

Samsung has maintained close relationships with distributors. The supply chain of
Samsung distributes its products through two channels: indirect – wholesale or retail, and
direct – customers order through the Internet. All of Samsung's direct distribution centres
employ the warehouse management system in a flexible manner. The retail system of
Samsung can import products from authorized level 1 resellers for resale to consumers
(Misa, 2022). The company has always provided distributors with reasonable incentives
through plain and practical support policies, thereby attracting consumers via promotions.
In addition to its traditional sales channels, Samsung is expanding its online sales
channels by partnering with online e-commerce platforms such as Lazada, Tiki, Shopee,
and Sendo....

+ Relationship with customers

Samsung expands its channel of distribution with the addition of 21 genuine
distributors with numerous branches throughout Vietnam. The company has made
substantial investments to improve new models and features for a diverse market of
customers. Consequently, each Samsung product is suited to the demands and
demographics of consumers. Additionally, the company has programs for education and
funds such as #teamunstoppable 2021 and Samsung innovation campus 2023 (Samsung,
2023).

*Recommendations
 Operating in Vietnam, Samsung’s supply chain management and business
strategies have faced opportunities and challenges as mentioned above. Several
recommendations for the company will be given out in this part.
Firstly, the fluctuating requirements and preferences of customers present an
immense challenge for the company, requiring Samsung to develop new technologies and
products on an ongoing basis. Therefore, it is recommended that the company give more
attention to the quality and characteristics of its products by increasing its investment in
human and talent development via talent development programs to build its workforce.
This can include training and development programs, talent retention initiatives and
promoting a positive work culture to attract and retain the best talent in Vietnam. Besides,
Samsung should also conduct regular market research and analysis to monitor the
changing market trends in Vietnam.
Secondly, since the 2016 incident, Samsung has made efforts to protect the
environment through Environmental Management Systems and Environmental
Certification, with all facilities achieving ISO 14001 (system) and ISO 50001 (energy
management system) certification, demonstrating responsibility for social issues and
sustainable development of the company. However, environmental issues have far-
reaching effects on all industries, so if only one endeavour is made, the sustainable
development strategy will be limited to brand promotion and will have no discernible
impact. Therefore, Samsung should form strategic alliances with industry players in
order to deliver sustainable and comprehensive solutions. In addition, the corporation can
advocate for government assistance in the implementation of environmental social
responsibility.
Thirdly, the company is on the rise in product localization. Samsung should
continue to focus on the localization of the supply chain by sourcing components and
materials from local suppliers. This will help reduce dependence on imports, improve
cost competitiveness and strengthen partnerships with local businesses in Vietnam.
 CONCLUSION
From Samsung's perspective, the report provides an overview of the current global
business environment by explaining the trends driving globalization through the four
mentioned driving factors. In addition, the Vietnamese business environment has also
been analyzed, as reflected by the external factors influencing the technology-
electronics industry in general and Samsung in particular. Based on the identified
challenges, opportunities and risks, a number of business strategies has been proposed to
help Samsung Vietnam strengthen its competitiveness in the future.
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