Introduction
Unit 32 Business Strategy in Organization Assignment Help Online
Establishing organizational goals and standards that strengthen and support the current organizational approach is referred to as business strategy. Business strategy is, in other words, the art of operational planning, resource allocation, and analysis of staff members’ skills and competencies to assign roles and responsibilities to achieve the goals and objectives. The mission, vision, objectives, and aims of the Samsung organisation, which conducts business in the communication and electronic industries, will be evaluated and assessed for the Unit 32 Business Strategy in Organization Assignment. Organization is Korean and was established in 1938. Since then, it has expanded its operations throughout the world by creating high-quality goods and services in accordance with consumer trends and market demands. One of the world’s top manufacturers of electronics and communications, Samsung enjoys a solid reputation among consumers. In addition, the report will conduct an internal and external company audit to examine the elements for designing the new business plan. Additionally, the research will assess alternative techniques and provide a plan for growing Samsung’s business. Additionally, the report will evaluate the roles and duties of the staff and provide details on the resources needed for putting the strategy into practise and achieving the company’s goals.
Unit 32 Business Strategy in Organization Assignment Help Online
Task 1
1.1 Mission, vision, objectives and core competences of organization
Samsung is a top electronic manufacturer that provides cutting-edge items like TVs, smart phones, music systems, and communication gadgets in a variety of ranges and qualities to satisfy target clients and their need for affordability (Halbert and Ingulli, 2014). The company has defined its mission, vision, and business goals and is working to attain them in an effective manner. The organisation has hired knowledgeable employees who support and promote the organization’s business operations.
Mission:
Unit 32 Business Strategy in Organization Assignment Help Online
The organization’s goal is to become the market leader in the global electronics and communication sectors. In order to exceed customer expectations, management is concentrating on improving the quality of products and services. Additionally, the business aims to create novel goods and services that provide it a competitive edge over other companies.
Task 2
2.1 Strategic positioning and organizational audit
The achievement of goals and objectives into desired organisation results is referred to as strategic positioning. Samsung is in a favourable position since it has a deeper understanding of consumer wants and develops products and services in line with those needs. The business offers a wide variety of goods and services to suit all types of clients, including middle- and upper-class individuals (Kitching. et.al, 2009). Management takes into account a variety of external and internal components when determining the company’s strategic positioning in the market since they can inspire the creation of long-term plans for growing commercial operations as well as support the current business strategy.
2.2 Environmental audit of organization
The PESTLE analysis technique has been used to evaluate external factors that have a substantial impact on an organization’s business success. Samsung management may utilise the data provided below to learn more about the effects of external factors.
Political considerations: Depending on the internal culture and business climate, Samsung conducts business in various countries with various laws and regulations. Corporate tax, resource allocation, and the application of rules and regulations are only a few political elements that have a big impact on an organization’s business strategy. However, the organisation enjoys favourable relations with the national authorities of several countries, which aid in economic promotion (Luo.et.al, 2011).
Economical factors: These are key elements of the external environment that have an impact on and shape an organization’s business operations. The current economic situation in the world and in organizations is steady and aiding in corporate growth. The economic element primarily consists of interest rates, inflation and deflation rates, as well as the economic growth and development of the nation relative to the enterprise. Based on the size and economic power of the targeted client category, the corporation had established the proper policies in the operational market.
Unit 32 Business Strategy in Organization Assignment Help Online
Task 3
3.1 Alternative strategies for developing business of Samsung
There are a number of various tactics that might be used to innovate and enhance the business operations of the Samsung Company. Samsung might use one of the tactics briefly outlined below to help the company position itself more effectively in the market and have an impact on both current business operations and a new market sector (Simon.2011). The alternate options are as follows:
Retrenchment
Retrenchment is a strategy used by corporations to deal with operational challenges and company size. The tactic is being used to cut spending in accordance with the aims and goals in order to achieve financial stability and retain greater levels of value in the market.
According to the review, the technique was used when the firm wanted to increase market expansion and reduce expenses that increased financial reporting. This tactic is employed when a negative situation exists, such as when the goods and services are not doing well and are not making any money (Brannen.et.al, 2013). Additionally, this approach would assist Samsung in better resource management and increased service production and distribution efficiency.
Conclusion
The business operations and the planning of those activities heavily depend on the company’s business strategy and the state of the market, according to the Unit 32 Business Strategy in Organization Assignment. The report provided specifics regarding the variables that are taken into account while developing a new company strategy, as well as information about the purpose, vision, and objectives of Samsung. With the aid of numerous analyses and assessments, the report had also identified a number of the aspects pertaining to the implementation of the plan in the company.
References
Books and Journals
Unit 32 Business Strategy in Organization Assignment Help Online
Brannen, M. Y., Moore, F. and Mughan, T. 2013. Strategic ethnography and reinvigorating Tesco Plc: Leveraging inside/out bicultural bridging in multicultural teams. In Ethnographic Praxis in Industry Conference Proceedings (Vol. 2013, No. 1, pp. 282-299).
Choi, S.Y., Lee, H. and Yoo, Y., 2010. The Impact of Information Technology and Transactive Memory Systems on Knowledge Sharing, Application, and Team Performance: A Field Study. MIS quarterly, 34(4), pp.855-870.
Halbert, T. and Ingulli, E., 2014. Law and Ethics in the Business Environment.
Hamilton, L and Webster, P., 2012. The International Business Environment.Oxford University Press.
