Samsung’s global strategies and innovation strategies are a critical factor for its competitive advantage. Headquartered in Korea, Samsung competes against other technology-intensive firms, such as Apple, Goggle, Lenovo, that create strong competitive forces. The industry environment imposes aggressive competitive behavior that typically involves rapid technological innovation for product differentiation. Samsung’s growth strategy must, therefore, require investment in technological innovation. Samsung aims to maintain a competitive advantage by providing unique (or differentiated) products targeting a broad market. Samsung’s marketing mix and strategies promote unique products or different alternatives to the majority of competitors. The marketing approach and technological innovation sustain the corporation’s competitive advantages and value chain effectiveness in satisfying customers’ needs. Samsung’s innovation strategies and global strategies are crucial for maintaining the technology firm’s competitive advantages.
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SAMSUNGS SWOT ANALYSIS AND GLOBAL STRATEGIES
Samsung’s global strategies and innovation strategies are as a result of a SWOT analysis conducted on the firm. Additionally, Samsung’s SWOT analysis relates to competitive business strengths that keep the enterprise a significant player in the international market. Samsung’s strengths include a strong global brand tied to consumer electronics amidst other strengths. The SWOT analysis presents a competitive situation that requires Samsung’s innovative strategies to continue business growth despite competition. Samsung’s dependence on Android OS is a weakness that limits business capabilities. The company’s opportunities include business growth through diversification. Competition is the most significant threat relevant to this SWOT analysis of Samsung. Samsung’s weaknesses are the barriers and challenges that require strategic solutions. Recommendations are that Samsung’s growth strategies, such as strategic partnerships, be exploited.
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SAMSUNG’S GROWTH STRATEGIES IN THE PESTLE ANALYSIS
It is essential to analyze how Samsung’s growth strategies are being affected by environmental factors. PESTLE analysis is, therefore, a tool for analyzing the impact of the social environment on the global smartphone industry. Political factors such as the recent conflicts in Korea have greatly affected the company as a whole. Economic factors such as good GDP of a country means the success of Samsung’s global strategies. The global uncertainty and financial crisis have made the company change its strategies now and then. The social environment is a dynamic domain, and for success, the company’s policies must pertain to the local culture. Samsung is much vigilant about the legal issues like copy and other pirated issues. Samsung’s global strategies and innovation strategies effect by technological factors is evident since the country relies on innovation technology.
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