Business Statement: Samsung
Samsung is a massive multinational corporation headquartered in Seoul, South Korea. It employs over 280,000 specialists in the electronics manufacturing sector and produces numerous goods, ranging from consumer electronics, such as phones, tablets, computers, and TV sets, to important components for other companies and the military. It is one of the largest providers of semiconductors in Asia. The company embraces innovation and seeks to better the world through its service. The mission statement of Samsung is as follows: “We will devote our human resources and technology to create superior products and services, thereby contributing to a better global society.” My understanding of this business statement is that Samsung seeks to better people’s lot in life by offering them tools for work and leisure. The purpose of this paper is to evaluate this statement based on the 4 theories of ethics, including utilitarian, deontological, virtue, and care ethics.
Ethical Analysis and Meaning
Utilitarian and virtue ethics are some of the most present in the Asian business landscape. Asian companies are known for their collectivist mindset that puts the value of collective happiness over that of individual benefit. This kind of thinking is showcased in Samsung’s corporate culture as well as in its mission statement. They seek to contribute to a better global society through their work, thus seeking to maximize the total amount of public happiness available. At the same time, they show a virtuous drive towards excellency by seeking to create superior products and services. Samsung’s culture is built around innovation and self-improvement, and a strive towards an (often unattainable) virtue is a hallmark of virtuous ethics as depicted by Aristotle. The company puts a lesser emphasis on Kantian or Care ethics, as its corporate culture is notably impersonal, and the company’s actions towards the competition (lawsuits, copyright infringement, etc.,) show a lack of belief in the Categorial Imperative.
Strengths and Weaknesses of the Statement
Samsung has been a very successful company, and rightly so, by emphasizing its strong sides, as shown in the mission statement. It never failed to deliver financial results to its stakeholders through dedication to innovation and excellence, and its contribution to society can be measured in almost 300,000 workplaces as well as various industrial and infrastructural projects built under Samsung’s patronage. These ethical considerations allow the company to fit into South Korean culture and be successful domestically. However, being an international conglomerate, the company has some ethical and cultural issues abroad. The perceived lack of individual care and preference towards one’s own employees, as advocated by care ethics is largely absent. Not to mention, the perceived lack of principles due to self-serving external strategies undermines Samsung’s reputation.
Potential Improvements
Potential improvements to the announced mission statement could include lines about caring for the employees and the industry in general. By announcing and following the moral obligations befitting a leader in the industry, Samsung may attempt to achieve a reputation similar to that of Apple, particularly when it comes to data privacy. Focusing on employee care could help reduce turnover and keep important specialists in the company, thus cutting losses associated with employee replacement. The revised statement, including Kantian and care ethical solutions, would be as follows:
“We will build a better global society through the creation of superior services and products, by treating our employees like family and setting an example for others in the industry to follow.”