MGT 670 – Seminar in Business Policies

Spring 2024

End of Semester Project

Company Chosen
“Samsung”

Instructor Name: Dr. Ghassan Eid

Student Name:

 Christa Accawi
 Laudy Farhat
 Diana Al Jawhary
 Sabina Kondakji

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Table of Content
1 Company Introduction
Current Vision Statement
Current Mission Statement

2 Competitive Profile Matrix (CPM)

3 Financial Statements

4 Matrix
Internal Factor Evaluation (IFE) Matrix
External Factor Evaluation (EFE) Matrix

Proposed Strategies Developed from SWOT Matrix

Strategic Position and Action Evaluation (SPACE) Matrix

Boston Consulting Group (BCG) Matrix

Internal-External (IE) Matrix

Quantitative Strategic Planning (QSPM) Matrix

5 Recommendations

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Company Introduction:
Samsung was founded as a grocery trading store on March 1, 1938, by Lee Byung-Chull.
He started his business in Taegu, Korea, trading noodles and other goods produced in and
around the city and exporting them to China and its provinces.
Samsung name came from a Korean world that means “The Three Stars”.
In the 1960s, Samsung entered the electronics industry with the formation of several
electronics-focused divisions:
 Samsung Electronics Devices.
 Samsung Electro-Mechanics.
 Samsung Corning.
 Samsung Semiconductor & Telecommunications.

Samsung first entered the electronics industry in 1969 it was their first products were black-and-
white televisions. During the 1970s the company began to export home electronics products
overseas. At that time Samsung was already a major manufacturer in Korea, and it had acquired
a 50 percent stake in Korea Semiconductor.
The late 1970s and early ’80s witnessed the rapid expansion of Samsung’s technology
businesses. Separate semiconductor and electronics branches were established, and in 1978 an
aerospace division was created.
The 2000s witnessed the birth of Samsung’s Galaxy smartphone series, which quickly not only
became the company’s most-praised products but also were among the best-selling
smartphones in the world.
Since 2006 the company has been the top-selling global manufacturer of televisions. Beginning
in 2010, the Galaxy series expanded to tablet computers with the introduction of the Galaxy Tab
and in 2013 to smartwatches with the introduction of the Galaxy Gear.
n the late 2000s and early 2010s, Samsung acquired companies that developed technologies for
electronic devices. In 2011, Samsung released the Galaxy S II, followed in 2012 by the Galaxy S
III, one of the world's most popular smartphones. The year 2012 also marked Samsung
becoming the world's largest mobile phone maker and the acquisition of spot to provide
entertainment to Samsung device users.

The company made additional acquisitions in the following years, including organizations that
would help it expand its offerings in medical technology, smart TVs, OLED displays, home
automation, printing solutions, cloud solutions, payment solutions, and artificial intelligence.

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In September 2014, Samsung announced the Gear VR, a virtual reality device developed
for use with the Galaxy Note 4. By 2015, Samsung had more U.S. patents approved than
any other company, with more than 7,500 utility patents granted before the end of the year.

In 2017, Samsung was given governmental permission to test a self-driving car. The following
year, Samsung announced that it would expand its renewable energy plans and hire 40,000
employees over the next three years.
Reference:

 https://www.britannica.com/money/Samsung-Electronics/Samsung-as-a-global-
company.
 https://www.lifewire.com/history-of-samsung-818809

VISION & MISSION STATEMENTS

Current Vision Statement

“Inspiring globally with our breakthrough tech gadgets, products, and innovation that improve
people's lives by building a new time”.

Current Mission Statement

“To devote its talent and technology to creating superior products and services that contribute
to a better global society. To achieve this, Samsung sets a high value on its people and
technologies”.

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Competitive Profile (CPM) Matrix
The CPM analysis reveals that Samsung is the strongest player in the industry with relative
strengths in market share, good number of store locations in different region such as China,
India, Europe and Europe market.
Additionally, Samsung possesses high investment for R&D, positive connection with its own
customers by providing them extensive products with high quality and innovation from different
sections (Smartphones, smartwatches, kitchen appliances, TVs, etc.) with great marketing
capabilities.
Below is a matrix detailing information about the Competitive Profile Matrix. This compares
Samsung with two major competitors— Apple and Huawei.

Samsung Apple Huawei

Critical Success Factors Weight Rating Score Rating Score Rating Score
Advertising
0.10 4 0.40 3 0.30 2 0.20
Brand Image 0.11 4 0.44 4 0.44 1 0.11
After sales services 0.11 4 0.44 3 0.33 2 0.22
Product Variety
0.08 4 0.32 3 0.24 2 0.16
International Market Penetration 0.06 4 0.24 4 0.24 1 0.06
Product Innovation 0.10 4 0.40 4 0.40 1 0.10
Financial Profit
0.03 4 0.12 4 0.12 2 0.06
Customer Loyalty 0.10 4 0.40 4 0.40 1 0.10
Market Share 0.05 3 0.15 4 0.20 2 0.10
Product Quality 0.11 4 0.44 4 0.44 2 0.22
Distribution Network 0.04 4 0.16 2 0.08 2 0.08
Price Competitiveness 0.11 4 0.44 2 0.22 3 0.33
Totals 1.00 3.95 3.41 1.74

Samsung’s weighted score mentioned that it is doing better competitively with an overall score
of 3.95. This means that Samsung is a stronger competitor in the market than Apple with a core
of 3.41 and then Huawei with a score of 1.74.

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Financial Statements
Below are the income statement and balance sheet for Samsung for fiscal years 2022 and 2023.
Income Statement 31/12/2022 31/12/2023 Percent Change
Revenue (Sales) $240,015 $199,847 -1 -17%
Cost of Goods Sold 150,920 139,224 -1 -8%
Gross Profit 89,095 60,623 -1 -32%
Operating Expenses 54,098 54,900 1 1%
EBIT (Operating Income) 34,997 5,723 -1 -84%
Interest Expense (1,884) (2,772) 1 47%
EBT 36,881 8,495 -1 -77%
Tax (7,317) (3,458) NA NA
Non-Recurring Events 0 0 NA NA
Net Income 44,198 11,953 NA NA

Balance Sheet 31/12/2022 31/12/2023 Percent Change

Assets
Cash and Short-Term Investments $91,507 $71,320 -1 -22%
Accounts Receivable 28,368 28,285 -1 0%
Inventory 41,445 39,845 -1 -4%
Other Current Assets 9,875 13,904 1 41%
Total Current Assets 171,195 153,354 -1 -10%
Property Plant & Equipment 133,452 144,525 1 8%
Goodwill 4,776 4,984 1 4%
Intangibles 11,279 12,568 1 11%
Other Long-Term Assets 4,775 10,335 1 116%
Total Assets 325,477 325,766 1 0%

Liabilities
Accounts Payable 8,453 8,737 1 3%
Other Current Liabilities 45,435 40,610 -1 -11%
Total Current Liabilities 53,888 49,347 -1 -8%
Long-Term Debt 3,253 3,290 1 1%
Other Long-Term Liabilities 74,391 71,182 -1 -4%
Total Liabilities 131,532 123,819 -1 -6%

Equity
Common Stock 713 693 -1 -3%
Retained Earnings 115,668 106,859 -1 -8%
Treasury Stock 0 0 NA NA
Paid in Capital & Other 3,497 3,399 -1 -3%

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Total Equity 119,878 110,951 -1 -7%

Total Liabilities and Equity 251,410 234,770 -1 -7%

Internal Factor Evaluation (IFE) Matrix

Below is a matrix detailing the Internal Factor Evaluation Matrix (IFE Matrix). This lists
Samsung’s greatest strengths and weaknesses as a company.

Strengths Weight Rating Weighted Score

1 Portfolio Diversification 0.07 4 0.28
2 Award Winning Brand 0.05 3 0.15
3 Economies of scale 0.05 3 0.15
4 Stronghold in the Global Markets 0.06 3 0.18
5 Innovation and strong R&D 0.05 3 0.15
6 Strategic Partnerships 0.02 3 0.06
7 Enormous advertising and marketing budget 0.06 4 0.24
8 Smartphones Market Leader 0.08 4 0.32
9 Ecologically Friendly Innovations 0.05 3 0.15
10 Distribution network 0.05 4 0.20

Weaknesses Weight Rating Weighted Score

1 Legal battles and patent infringement 0.05 1 0.05
2 Dependency on North American Markets 0.05 3 0.15
3 Intense Competition from Local Players: 0.07 2 0.14
4 Limited software differences 0.04 1 0.04
5 Dependence on Low-end Smartphones 0.06 2 0.12
6 Lack of Leadership Diversity 0.02 2 0.04
7 Vulnerability of its supply chain 0.02 2 0.04
8 Quality control issues 0.06 1 0.06
9 Decline in smartphone sales 0.04 2 0.08
10 Cybersecurity Risks 0.05 1 0.05
Total IFE Score 1.00 2.65

External Factor Evaluation (EFE) Matrix

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Below is the EFE Matrix for Samsung and the electronics industry. Listed first are the key
opportunities followed by the major threats toward the external environment.

Weighted
Opportunities Weight Rating
Score
1 Augmented Reality (AR) Enterprise Applications (53% Growth by 2027) 0.09 2 0.18
Artificial Intelligence (AI) Powered Smart Cities (Market Expected to Reach 0.05 4 0.2
2 $400 Billion by 2026)
Hyper automation and Robotics (Robotic Process Automation Market to 0.05 2 0.1
3
Reach $12.03 Billion by 2027)
Vertical Farming and Indoor Agriculture (Market Expected to Reach $12.2 0.02 2 0.04
4
Billion by 2025)
Neurotechnology and Brain-Computer Interfaces (BCI) (Market Projected 0.05 2 0.1
5
to Reach $18.7 Billion by 2027)
Personalized Learning and EdTech (Global Market Expected to Reach 0.07 2 0.14
6
$341.1 Billion by 2027)
Personalized Nutrition and Food Tech (Market Expected to Reach $700 0.08 4 0.32
7
Billion by 2030)
The Metaverse and Virtual Reality (VR) Fitness (VR Fitness Market to Reach 0.05 1 0.05
8
$21.5 Billion by 2027)
Personalized Nutrition and Food Tech (Market Expected to Reach $700 0.07 4 0.28
9
Billion by 2030)
Hyper-local Delivery and Autonomous Vehicles (Global Autonomous 0.03 2 0.06
10
Delivery Vehicle Market to Reach $57.23 Billion by 2026)

Weighted
Threats Weight Rating
Score
1 Key Security Issues 0.07 2 0.14
2 Court Cases/Leadership Crisis 0.05 4 0.20
3 Regulatory Compliance 0.02 3 0.06
4 Fluctuating Exchange Rates 0.03 1 0.03
5 Dissatisfied Users 0.06 1 0.06
6 LG Foldable Display 0.04 3 0.12
7 Intellectual Property Disputes and Lawsuits 0.01 2 0.02
8 Economic Recession 0.03 3 0.09
9 Product Counterfeit 0.08 2 0.16
10 Rising Labor Costs 0.05 2 0.10
Total EFE Score 1.00 2.45

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1.Key Security Issues:
Samsung's security has been adversely impacted by the widespread adoption of
cloud computing and remote work environments. Since 2022, several significant threats
have emerged during the transition to these IT environments. One of these factors was
“exploitation of security vulnerabilities in cloud environment” leading to insecure settings
and exploitation by malicious entities. The second factor was “Intrusion in internal networks
of companies in remote working environment”. The shift to remote work, prompted by the
COVID-19 pandemic, has created opportunities for unauthorized access to internal
networks, facilitated by the expansion of malicious code. Additionally, “evolving
ransomware attacks” pose a growing threat, increasingly obstructing access to computer
systems and risking the exposure of sensitive data.

2.Court Cases/Leadership Crisis:

Samsung faces a leadership crisis. Top executives embroiled in legal troubles like Jay Lee, the
heir to Samsung and a key leader, including potential jail time for stock manipulation and
audit fraud linked to a past corruption scandal. Additionally, these allegations contributed to
the impeachment of South Korean President Park Geun-hye in 2017 who were acting as
head of Samsung. This threat has plunged the company into a challenging period, resulting
in reputation damage, financial impact, negative market perception, and operational
disruption and left the company struggling to navigate challenges without dependable
leadership.

3.Regulatory Compliance:
Many governments have started to put out guidelines that strive to increase legal and
regulatory compliance among companies such as Samsung and they are different from one
market to another which can result in them being prevented from doing business.
Regulatory compliance-related legal battles pose substantial risks and challenges for
Samsung, impacting its financial health, brand perception, and operational efficiency.
For example, in 2016, the company faced significant financial penalties and reputational
damage due to the Galaxy Note 7 recall, which was linked to safety and regulatory
compliance issues related to battery explosions. Samsung has also encountered operational
disruptions when addressing compliance-related matters.
One of these regulations was that Samsung must ensure that its smartphones, televisions,
and other electronic devices comply with safety requirements concerning electrical
components, battery safety, and electromagnetic compatibility. Moreover, Samsung must
adhere to environmental regulations, including restrictions on hazardous substances (RoHS),
energy efficiency standards, and e-waste recycling regulations. Additionally, Samsung needs
to obtain the requisite licenses and permits for international trade and ensure compliance
with sanctions and embargoes imposed by governments.

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4.Fluctuating Exchange Rates:
Samsung experienced significant foreign exchange losses where the Samsung
Electro-Mechanics earned 52.4 billion won in foreign exchange profit in 2019 but lost 35.3
billion won in 2020. This fluctuation led to higher prices for buyers using USD currency, to
lower profit margins when revenue is converted to Korean currency (KRW) and to an
increase in production costs due to the purchase of production materials. As a result,
changes in the won-dollar exchange rate can significantly affect South Korea's export
competitiveness. This fluctuation led to higher prices for buyers using USD currency, to
lower profit margins when revenue is converted to Korean currency (KRW) and to an
increase in production costs due to the purchase of production materials.

5.Dissatisfied Users:
Recently, there has been significant discontent among Samsung Galaxy S users regarding the
inability to clear their cache effectively. Complaints have surfaced online indicating that
despite attempts to delete the cache, it reappears upon revisiting the cache settings. For
instance, one user reported deleting all cache only to find it reappear upon subsequent
checks. This highlights a specific issue with that particular phone model, leading to
dissatisfaction among users. It was noticed that on social media platforms and online forums
negative word-of-mouth and online reviews from dissatisfied customers especially when
Samsung failed to fix this issue which damaged Samsung’s reputation leading to a loss of
market share and revenue. For example, in 2010, the revenue was 17.87% but the
percentage decreased to 9.32% in 2011.

6. LG Foldable Display:
LG has entered the foldable display market poses a big challenge to Samsung. LG's divisions
focused on manufacturing components give it leverage over Samsung. LG Chem recently
introduced its foldable display technology claiming superiority over Samsung's displays. LG
emphasizes that their new material called “Real Folding Window”, unlike Samsung's, boasts
a special coating which offers the durability of glass and the flexibility of plastic, setting the
stage for increased competition with Samsung in the foldable display market. Additionally,
LG's foldable phones are priced more affordably compared to Samsung's, due to lower
manufacturing costs.

7. Intellectual Property Disputes and Lawsuits:

The conflict began when Apple decided to file a federal lawsuit in the US district court,
accusing Samsung of copying some of its iPhone features in the Samsung Galaxy S II
smartphone. The issues lasted for seven years, starting from 2011 and ending in 2016, in
which both companies benefited and lost at the same time.
In 2016, the court ruled against Samsung, finding them guilty and ordering them to pay
Apple $1.05 billion in damages for the harm caused (Coughlin, 2016).

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 8.Economic Recession:
An economic recession poses a substantial threat to Samsung's business. During
economic downturns, consumers typically reduce spending on non-essential items, d
directly impacting sales of Samsung's consumer electronics and appliances. Operating profit
plummeted to 3.2 billion euros, marking a 70% decrease from the 10.4 billion euro profits
recorded in 2021 for the same period, reaching its lowest point in 2022. This sharp decline,
the steepest in eight years, can be attributed to classic economic factors, including reduced
sales from Samsung's customers, who are manufacturers of smartphones, televisions,
computers, areas in which Samsung is a major player.

9.Product Counterfeit:
In 2017, the mobile benchmarking site AnTuTu published statistics on the counterfeit
market, revealing that the Samsung Galaxy S7 Edge was the most replicated phone of the
year. Shockingly, over 36% of all counterfeit smartphones were Samsung copies. These
counterfeit devices were associated with various risks, including malware, ransomware,
keylogging, and data theft.

10. Rising Labor Costs:

Samsung's employees have initiated a strike demanding higher wages. The union is pushing
for a 6% pay increase, while Samsung is only offering 4%. Son Woo-mok, leader of the
10,000-strong National Samsung Electronics Union, stated, “We are asking the company to
treat its workers in accordance with its global standing.” This strike threat comes at a critical
moment for Samsung, with its chip division reporting a record loss of $3.4 billion in the first
quarter.

Proposed Strategies Developed from SWOT Matrix

Below are the strategies developed that Samsung could pursue to stay competitive and grow
the company.

Strength - Opportunity (SO) Strategies

Ecologically Friendly Innovations &Vertical Farming and Indoor Agriculture
Innovate in various technological areas that support and enhance ecologically friendly
1
practices in agriculture: Samsung develops advanced sensor technologies used in various
devices that help to monitor environmental conditions (humidity & temperature) (S9-O4)

Innovation and Strong R&D & Augmented Reality (AR) Enterprise Applications
2
Allocate more resources toward R&D through development of AR enterprise application
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 specifically in healthcare by providing essential hardware components, software solutions:
allowing medical professionals to access patient records & medical imaging data, diagnose
image. (S5-O1)
Economies of Scale & The Circular Economy and Remanufacturing
Leverage scale and capabilities drive positive environmental and economic outcomes
3 while delivering value to customers and stakeholders by enabling efficient resource
utilization, cost reduction, supply chain optimization, market expansion and innovation
(S3-O6)
Smartphones Market Leader & Artificial Intelligence (AI) Powered Smart Cities
Advance the development and deployment of AI that lies in the potential for synergy in
4 the smartphones market: Chat Assist, Android Auto, and circle search; this integrating
raised capabilities for data collection, analysis, and communication that shape the future
in digital transformation. (S8-O2).

Strength - Threat (ST) Strategies

Award-winning Brand & Dissatisfied Users: Leverage brand reputation to address
customer concerns. Samsung is known for its high-quality products, so they can use this
reputation to assure customers that they are taking their complaints seriously. Hold town
1
hall meetings or focus groups to understand customer dissatisfaction and directly address
them. Additionally, Samsung could institute a stronger customer service program to
improve communication and resolution times. (S2-T5)

Economies of Scale & Fluctuating Exchange Rates: Diversify manufacturing locations.

Samsung can mitigate the risk of exchange rate fluctuations by producing goods in
2
multiple countries. This would allow them to adjust production levels in each location to
take advantage of favorable exchange rates. (S3-T4)

Innovation and Strong R&D & Intellectual Property Disputes: Strengthen patent portfolio.
Samsung already has a strong R&D department, but they can further protect themselves
3
from lawsuits by diligently filing patents on their innovations. This will make it more
difficult for competitors to copy their designs. (S5-T7)
Distribution Network & Product Counterfeit: Increase security measures in the distribution
channel. Samsung has a vast distribution network, but this also makes them vulnerable to
4 counterfeiting. They can implement stricter measures to identify and eliminate counterfeit
products throughout the supply chain. This could involve working with distributors and
retailers to improve authentication processes. (S10-T9)

Weakness - Opportunity (WO) Strategies

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 Develop remanufacturing processes for Samsung products to extend their lifespan,
1 protect people from incidents, better reputation, reduce e-waste, and increase in sales
(W8-O6)

Develop AI solutions for traffic management, waste collection optimization, and energy
2
efficiency in urban environments to attract and enter new markets (W2-O2)

Develop and market robots for various tasks across industries, from logistics and
3 warehousing to customer service to avoid: a rise in production costs, disrupt production,
the disturbance of the business performance (W7-O3)

Develop remanufacturing processes for Samsung products to work effectively on

4
component shortage and longer delivery (W5-O6)

Weakness - Threat (WT) Strategies

Strengthen intellectual property management and invest in research to innovate new
1 technologies, ensuring compliance with patent laws and reducing the risk of legal disputes.
(W1-T7)

Diversify market presence by expanding into regions with stable currencies and investing
2
in localized marketing strategies to penetrate new markets. (W2-T4)

Engage with users through feedback channels and provide software updates and
3
improvements regularly to enhance user satisfaction and loyalty. (W4-T5)

Diversify product portfolio by investing in mid-range and high-end smartphones with

4 premium features, catering to different market segments and reducing reliance on low-
end devices. (W5-T8)

Strategic Position and Action Evaluation (SPACE) Matrix

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Below is a Strategic Position and Action Evaluation Matrix (SPACE Matrix) for Samsung
and its two closest competitors, Apple and Huawei:

Samsung Apple Huawei

X Axis 2.0 0.0 -1.0
Y Axis 1.6 2.0 0.0

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Analysis:
Following the analysis done, we can say that Samsung is in an aggressive position. Regardless of
all the external threats and internal weaknesses, Samsung was willing to take the risk and
benefit from its internal strengths and external opportunities to invest and expand to new
markets where Samsung succeeded due to its expertise in chip design, software development,
and logistics. Moreover, its financial stability tends to show overall growth despite potential
economic fluctuations. Its revenue and dividends kept high even if it faces a decrease in year
2022 but it returned to its peak again. With its strong brand and diverse product range,
Samsung is well-placed to capitalize on this profit potential across different consumer segments.
Additionally, the tech industry is set to grow steadily due to increased digitalization, cloud
usage, and advancements like AI and 5G. Samsung's diverse product lineup, from smartphones
to semiconductors, positions it well to benefit from this growth.

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Boston Consulting Group (BCG) Matrix

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Samsung division segments, Consumer Electronics and Display Pannel, lie mostly
within the Stars quadrant, due to the high market share and in rapidly growing markets.
It requires continued investment to sustain its growth and market leadership position.
As for Mobile Communication and Semiconductor are considered Cash Cows. These are
segments with a dominant market share but operating in slow-growing or mature markets.
They generate significant cash flows that can be reinvested into stars or question marks.
However, they require minimal investment to maintain their market position.

Internal-External (IE) Matrix

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Quantitative Strategic Planning (QSPM) Matrix

Below is a Quantitative Strategic Planning Matrix (QSPM) for Samsung that analyzes the two
recommendations:

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Recommendations:

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Reference:
 https://www.samsungsds.com/en/news/samsung-sds-selects-top4-security-threats-
of-2022.html
 https://businessmodelanalyst.com/samsung-swot-analysis/#Samsung_Threats
 https://essayzoo.org/blog/samsung-swot-analysis#Controversies
 https://www.researchgate.net/profile/Caroline-Abraham/publication/
343721698_SAMSUNG_INNOVATION_AND_TECHNOLOGY/links/
5f3bd7b992851cd302018994/SAMSUNG-INNOVATION-AND-TECHNOLOGY.pdf
 https://www.businesskorea.co.kr/news/articleView.html?idxno=61431
 https://businessmodelanalyst.com/samsung-swot-analysis/#Samsung_Threats
 https://eu.community.samsung.com/t5/galaxy-s24-series/a-suggestion-clear-cache/
td-p/9376017
 https://www.investing.com/academy/statistics/samsung-facts/
 https://www.sammobile.com/news/lgs-foldable-display-tech-big-trouble-samsung/
 https://www.sammobile.com/news/galaxy-z-fold-2-foldable-display-worlds-smallest-
curvature/
 https://www.ft.com/content/d0c983dc-4de1-11e3-8fa5-00144feabdc0
 https://www.researchgate.net/publication/
347683182_The_conflict_between_Apple_and_Samsung_over_patents_and_copyri
ghts
 https://www.lexology.com/library/detail.aspx?g=559aaef6-9d6f-4295-b49c-
51c660f24b3e
 https://www.lemonde.fr/en/economy/article/2023/01/07/samsung-sharpest-
decline-in-eight-years_6010619_19.html
 https://deviceatlas.com/blog/counterfeit-smartphones-and-the-threats-they-pose
 https://www.theregister.com/2024/04/11/samsung_strike_retail_sanctions/
 https://www.ft.com/content/eb3ff076-f098-40a2-9a0e-6b1a03db4970
 https://www.koreatimes.co.kr/www/tech/2024/04/129_319040.html
 https://www.wsj.com/market-data/quotes/SSNLF/financials/annual/balance-sheet
 https://www.investing.com/equities/samsung-electronics-co-ltd-balance-sheet


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