Samsung has been considered as one of the best global industry. In the whole world, the products of Samsung have been used and are admired by the people from every domain and background. From mobile phones to the electronic devices Samsung has been serving the Industry and the society in good terms. Samsung basically deals with white goods. The company has been owned by a South Korean family. Samsung has been a company which is highly dynamic in nature. In order to maintain the market, Samsung should always consider the certain facts and analysis. Samsung has covered so many countries in the world, therefore it is important to analyze certain external as well as internal factors.
The political factors are most of the time not very much influential in the way of the progress of the companies like Samsung. The company is away from the political scenario of the state in which the country is operating. However, in recent times there are certain things like the peace of the state and the political instability which laid direct impact on the company. A country with political instability becomes a war prone area and the sale of the white good items became low. It could be analyzed from the example that the recent conflicts in Korea have greatly affected the company as a whole.
This is one the very important dimension for the company like Samsung. The more the states will develop the higher are the chances of the company to expand and open its new units in the newly developed zones. The good GDP of the country means that the people has more income and will be more prone to buying the latest items produced by the company. In this way, the overall profit of the company will be increased and the company will always be in a position to expand globally. Moreover, the overall economic crisis the world has been facing in recent times has also a direct impact on the company like Samsung. The global uncertainty has made the company to change its strategies every now and then.
These impacts are purely based on the local beliefs and culture of the people in which the company is operating. This is a very dynamic domain and for the success, the company must show flexibility in its policies pertaining to the local culture. Samsung is basically a purely Korean company but it has changed its preferences and the related policies as per the local social factors in which the company is being operated.
Samsung has been famous in the world for its innovation. Samsung has its mission to always follow the contemporary trends in the technological sphere. There are many rivals of Samsung now. It is incumbent for the company to go one step ahead of the technology. The products Samsung is producing are mostly technological related so it is one of an essential factors which the company needs to keep in view while chalking out the policies and assessing the forthcoming launching of devices and the features of the devices. Samsung has been the technology driven company and focusing on the latest trends of technology should have been the fundamental maxim the company like Samsung should follow.
For the global company like Samsung which has many rivals like Apple. Samsung has to be very much vigilant about the legal issues like copy and other pirated issues. Apple has many times blamed Samsung for copying their design and features. In this perspective, Samsung has to face many penalties. Apart from this many times, Samsung has been accused of not paying much to its employees as compared to its rivals. The individual working in Samsung often leave and join the rival companies, which maximizes the risks of leakage of innovative ideas. Samsung should chalk out some legal bindings in this perspective. Moreover, Samsung should always abide by the legal issues of the domain in order to increase the customers and to maintain a positive image in the market which will always help in gaining the trust of the customers.
With the rise of globalization, people have become more and more ethical and ethics oriented. The consumers always expect from their favorite brand to be socially responsible. They always want from their brand to play a vital role in the betterment of the society as a whole. The working conditions of the company must also be good enough to attract the best of the individuals to be the part of the Samsung family. The external, as well as internal factors are the major ingredients in the success of the company. They clearly define the agenda the company should follow to avoid the failure.