“Inspire the World, Create the Future.”

Samsung is a South Korean multinational conglomerate headquartered in Samsung Town, Seoul. Founded by Lee Byung-chui in 1938 as a trading company, Samsung has since then entered into multiple industries including the electronics industry in the late 1960’s. When the founder Lee passed in 1987, Samsung was separated into four business groups- Samsung Group, Shinsegae Group, CJ Group, and Hansol Group. Since 1990, Samsung has increasingly globalized their electronics, primarily on its mobile phones and semiconductors.

Samsung headquarters

Samsung Electronics, in 2015 was measured to be the world’s second largest information technology company. Samsung has a powerful influence on South Korea’s economic development, politics, media, and culture. Their revenues account for up to 17% of South Korea’s GDP. Samsung’s innovative and top quality products are world recognized, making them one of the world’s leading electronics companies.

vision2020_01

Samsung has recently come out with a new vision and motto for the new decade. Their vision for 2020 is “Inspire the World, Create the Future.” This new vision reflects Samsung’s commitment to inspire its communities with their three key strengths of new technology, innovative products, and creative solutions.

As part of this vision, Samsung has mapped out goals of reaching $400 billion in revenue and becoming one of the wsamsung visionorld’s top five brands by 2020. Samsung has established three strategic approaches in its management which include- creativity, partnership, and talent. With excitement for the future, Samsung is looking to build on their previous accomplishments and look forward to exploring new territories.

 

Sources:

https://en.wikipedia.org/wiki/Samsung

http://www.samsung.com/us/aboutsamsung/corporateprofile/history06.html

http://www.samsung.com/us/aboutsamsung/corporateprofile/visionmission.html

 

8 thoughts on ““Inspire the World, Create the Future.””

  1. As it states “Samsung has mapped out goals of reaching $400 billion in revenue,” I believe that it is very clear that they are rushing their products. They seem to only care about profit, and not about quality.

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    1. I completely agree with you that Samsung is a company that cares mostly about their profits and revenue. That seemed to be a major issue in this case because people felt as if Samsung cared more about their profits than they did about the safety of people.

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  2. Perhaps Samsung should consider modifying their vision to include consumers. They would clearly benefit from implementing a more customer focused strategy because they would be more likely to ensure that their products were safe to use before they released them.

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  3. Wasn’t Samsung implicated in the South Korean President scandal as well? I think their greed has taken over the company and has driven them away from providing the best product to making the most money.

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