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Samsung Company’s Background, Mission and Vision Term Paper

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Company’s Background

Samsung Company is a South Korean international corporation whose headquarters are located at Samsung Town in Seoul. The organization comprises multiple affiliate businesses that run on the Samsung trademark. Lee Byung-Chul established the organization in 1938. Initially, Samsung was a trading company. The corporation specialized in grocery farming and the production of noodles (Choi 374). It also sold dried food locally. Between 1938 and 1958, it used the Samsung Byeolpyo noodles logo, which represented its primary line of business. In 1947, the Korean War led to Lee fleeing Samsung Town, which resulted in the closure of the business (Choi 376). He opened a sugar refinery business in Busan. Later, Lee and Cho Hong-Jai, founder of Hyosung Group established a new business that became known as Samsung Moolsan. In 1951, the corporation split, and Samsung Moolsan transitioned to Samsung Group. The Corporation embarked on an aggressive diversification strategy resulting in it venturing into the electronic industry and shipbuilding business.

In 1968, Lee invested in the electronics business, culminating in the establishment of Samsung Electronics, which is a subsidiary of Samsung Group. In 1970, the company manufactured the first 12-inch black-and-white television set (TV) (Choi 381). It continued to look for ways to enhance the manufacture of TVs, and three years later, Samsung Electronics made a 19-inch TV popularly known as Maha 506. In 1978, the business became the global leader in the manufacture of television sets. The increased diversification of product lines led to Samsung manufacturing its first personal computer in 1983. The company’s objective was to become the leader in the electronics industry. In 1991, Samsung ventured into the mobile phone business. Investment in modern technology enabled the organization to produce the first liquid crystal display (LCD) screen in 1995 (Choi 385). After a ten-year period, Samsung became a leader in the production of LCD screens globally.

The organization’s logo has evolved. Today, Samsung has a blue logo that depicts consistency, steadiness, and corporate social responsibility. The corporation also has an audio logo. Samsung Company uses a unique font dubbed SamsungOne, which enables the organization to realize the steady and widespread visual distinctiveness of its products. The font was devised to be applied across Samsung’s different device portfolio. It made it easy for customers to read all Samsung products ranging from the smallest gadgets such as smartphones to the most massive electronics like refrigerators and TVs.

In 2004, the organization surprised the world by developing the first-ever 46-inch LCD television (flat screen). In 2007, Samsung realized the dream of becoming the global leader in the electronic industry (Pratiwi 47). In 2012, Samsung Electronics became the largest manufacturer of mobile phones worldwide. In 2017, the business continued to internationalize its electronics and activities. At this time, semiconductors and mobile phones are the significant sources of revenue for the corporation. Presently, Samsung’s brand value is ranked sixth globally.

Mission and Vision

Presently, Samsung Company has four primary product lines, which are mobile phones, television and home theatre, computing, and appliances. The business has a significant influence on South Korea’s politics, culture, media, and economic development. Jain and Kaushik argue, “Samsung has been a major driving force behind the “miracle on the Han River” (17). The corporation’s affiliates produce over 20% of the country’s total exports. Samsung’s vision is to inspire the world through the development of state-of-the-art products. The company’s mission is to stir up the universe through innovative designs, products, and technologies that improve people’s lives and promote social growth.

Works Cited

Choi, Philip PilSoo. “Evolution of Samsung Group and its Central Office: Imperfect Market and Capacity-Building.” Asian Business & Management, vol. 15, no. 5, 2016, pp. 370-398.

Jain, Hardik, and Shantanu Kaushik. “Making of Two South Korean Chaebols: Samsung and Hyundai.” International Journal of Advanced Research, Ideas and Innovations in Technology, vol. 4, no. 1, 2018, pp. 12-31.

Pratiwi, Detha Misgi. “The Influence of Brand Image, Brand Trust and Customer Satisfaction on Brand Loyalty (Case of Samsung Smartphones).” Journal of Berkala Ilmiah Efisiensi, vol. 15, no. 5, 2015, pp. 45-61.

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