Samsung Singapore Essay Example | Topics and Well Written Essays - 1500 words

Samsung Singapore - Essay Example The strategies, projections, and future scenarios of the company are significantly reliant on the tastes, decisions, views, and preferences of the customers. A close attention to the changes in customers’ preferences and opinions is important for the survival of the business. In order to have a competitive advantage Samsung must invest in continuous research practices and maintain feedback mechanisms through social media. This would help the company to carry out necessary changes in line with the market realities. Companies in the telecommunication industry in Singapore have developed strategies for retaining both high-level and low-level clientele through promotions and improved customer care services. Suppliers In the past Samsung has had to contend with the bargaining power of suppliers. Few suppliers operate on the level of standards that meet Samsung thresholds of value. There have been tendencies of these suppliers to use their privileged positions to make arbitrary chan ges in prices, which affect the operations of Samsung precisely because there are no suitable substitutes for the products. In order to survive such eventualities, Samsung would have to cultivate positive working relations with the suppliers or enter into long-term contracts that have the element of stability. This would impact positively on the growth of the company. Economics and Geography Economic and geographical factors have had some significant impact on the performance of Samsung Singapore in the previous financial periods. The growth of the country’s economy has had significant impacts on Samsung Singapore. For instance, the tourism industry and the information and technology sectors have experienced significant growth in the past decade. One of the...56). However, new market realities have emerged demanding some changes in the way, which companies operate their businesses in. Samsung Singapore will have to carry out strategic changes in its operations in order to kee p up with the pressure of competition from emerging competitors and other macro-economic forces that affect the status of the industry. In the recent past global Samsung has taken advantage of the synergies of globalization and liberalization to spur growth and positive performance (Niewwenhuizen, 2009 p. 58). The need for strategic reorganization is based on the necessity of total quality management policies within the company. Competitors The past two decades have witnessed a consistent growth of stiff competition on the mobile telephone sub-sector in Singapore. Favourable government regulation policies and the policies of liberalization are some of the external factors that contribute to the competitive factor on the market. In order to survive, many companies have engaged in promotions, expensive advertisements, and value addition services that are aimed at increasing their influence in the vast mobile telephone market. Samsung utilizes its strong revenue base and modern market practices to maintain its profile on the competitive market environment (Adekola & Sergi, 2007). Multiple strategies ranging from strategic marketing to price modulations have also ensured the growth of the company. The process of planning cuts across the various levels of the organization.