Successful Management DB
In market analysis of the company it is important to consider its SWOT analysis, and according to Marete (2014), the strengths, weaknesses, opportunities and threats of Samsung are as explained below.
- Samsung is the most successful manufacturer of electronics all over the world as it is one of the largest smartphone, television sets and LCD panel producers globally.
- Samsung leads in mobile phone marketing. It commanded 21.3% of the mobile industry followed by Apple with 13.9% mobile industry.
- Samsung has impressive capability as well as designs. It was able to create Samsung payment application in less than one year as compared to other companies like Apple. It has also been able to replicate much application in the mobile phone industry.
- Samsung has strong manufacturing and marketing capabilities and therefore being able to fit the customer’s tastes and preferences at a relatively lower price as compared to its competitors.
- Samsung Company has also been able to maintain a long-standing relationship between it and retailers in Europe and the United States therefore having a steady supply chain for its products which has increased the sales registered.
- Samsung has not been in a position of matching Apple Inc. marketing capabilities in the smartphones market as Apple in the year 2014-2015 had 34.9% U.S. market share as compared to Samsung which had 2.3% market share.
- Some Chinese smartphone manufacturers like Huawei are catching up with Samsung as they are also able to manufacture high-quality products at a lower cost and therefore offer them at lower prices.
- The fact that Samsung Company heavily depends on its sales as the source of revenue cut them short as there is limited potential in the market with the threat of the upcoming companies and the stiff competition from Apple.
- Most of the customers view the Apple products as more developed, advanced and reliable as compared to Samsung products and therefore reducing the chances of growth in the market.
- Samsung marketing efforts are also not comparable with apples moves as the investment in the marketing process and creation of awareness is not that intensified.
- New technologies implemented like the wearable tech has increased chances of innovation and therefore acceptable in the market.
- The increase in the demand for tablets and smartphones has also led to the development of potential markets and therefore increasing chances of more sales and hence higher revenue.
- The growing middle class also increase the market for the Samsung products like the electronics as well as the smartphones as the Samsung smartphones are affordable at different levels.
- The growing online markets like Amazon.com have also increased the avenues of reaching their customers and therefore increasing sales.
- The growing markets for smartphones and tablets in the developing countries have also expanded the market for the company, therefore, boosting its sales. Most of this countries are in Africa and India where computers are not commonly used.
- Apple Inc. has registered an increased reputation for its reliability and sophisticated products.
- The Google Android system used by Samsung smartphones is not so popular as compared to iOS.
- The decrease in the financial capabilities of the middle class in the United States, and Europe could reduce the sales of the company.
- Apple could enter in the appliances, and other Samsung dominated fields and therefore end up directly competing with Samsung in the market
- The Chinese companies like Huawei and could become serious Samsung competitors basing this on the speed of growth they register in the market.
The SWOT analysis outlines the areas that the company can improve on and the ones that it should maximize on to gain a competitive edge in the market. The analysis, therefore, is helpful in drafting the strategies to come up with as well as the course to maintain to progress in the market. This is critical in drafting a strategic plan as all the aspects of the company are considered and therefore developing an all-inclusive plan which could see the company register a positive trend and therefore becoming more competitive in the market.
The four major roles of the management are planning, organizing, controlling and staffing (Mouton & Wildschut, 2015). In Planning the management outlines the path to follow in achieving the goals and objectives of the company. The steps are developed in the strategic plan to enable progress, and they could include increased manufacturing or improved marketing strategies. Organizing calls for the linking the team and other resources towards realizing the goal of the company. It is done through task assignment as well as granting authority. In staffing, the manager should be in a position to select, train and develop employees in line with the available positions in the company. This is done in collaboration with the Human Resource Management. Controlling is done by continuously checking the progress of the tasks and ensuring that the plans are in line with the initial purpose to avoid deviations as projects progress in the company.
The management is the key or rather the final decision makers in a company (Mouton & Wildschut, 2015). They can involve the other team on recommendations and have deliberations on certain changes they feel that should be made or new strategies that they feel could boot the performance of the company but the final decision to be implemented after consideration of all the recommendations come from the top. This, therefore, make them the most critical people in the decision-making process of a company.
Marete, F. R. (2014). Swot analysis of Samsung’s marketing plan. S.l.: grin publishing.
Mouton, J., & Wildschut, L. (2015). Leadership and Management. African Minds.