Compare three companies Essay Example | Topics and Well Written Essays - 1250 words

Compare three companies - Essay Example This used to happen only with Sony and Apple products before. Samsung is not only one of the greatest businesses today, but the company tends to have a great goodwill as a responsible global entrepreneurship. The objective of this paper is to explore the tactics and strategies that were employed by Samsun to climb up and reach the top of the success ladder at such lightning speed. It is important to review the success story of Samsung before analyzing the strategies it has utilized for achieving the numero uno spot in corporate world. Samsung came into being in 1938, as a small trading company and transformed into a business group. And from its branch in Tokyo it started to expand its business first by entering in the textile business, then started establishing electronics, introduced the company in heavy industry by affiliating in shipbuilding. Samsung itself had built huge companies based on sugar and seasonings and textiles; and LG on chemicals for household and industrial consump tion (Michell, 13). It also expanded the business by acquiring Hankook Semiconductor. Later on it also introduced first 10 – million seller cell phones, became world’s best TV manufacturer. And today Samsung claims to have the largest share in the global smartphone market, which is because of the Galaxy smartphones of Samsung. In 2012 it was awarded as world’s ninth best brand (Tek, n.p). Samsung now stands among the top tier global corporations, possesses good ranking in the superior management, and provides innovation in design along with improving its sales and earnings (Lee, 9). The competition between the two famous smartphones brands Samsung and Apple started in 2008, when Samsung targeted the smartphone market by investing on large scale in it. Apple is a multinational company, which provides phones, personal computers, iPads, iPods and much more. In 2008, the most valuable company of the world was Apple because it had the shares with prices up to $ 373 ( Zylla-Woellner, n.p). Samsung and Apple without any doubt were leading the cellular especially the smartphone industry, however, Samsung suddenly shifted gear and turned the entire game in its favor. Apparently, Samsung’s most significant tactic is that the company never ceased to introduce variety in their products and in their strategies of selling the products too. Samsung Corporation has successfully blended speediness, imagination and affordability in their offerings to capture the consumers’ attention. While Samsung was busy investing huge sums on extensive research and development to gain the market share, Apple was stagnant using only 2.4 percent of its revenues on innovation (Roll 154). Samsung spent around US$ 2.3 billion on research and development (Roll, 154). The major competitors Sony and Apple were badly defeated by Samsung. The reason is that whenever these companies introduced a new product Samsung copied the concept and followed their path to introduc e similar product but with a definite edge and innovation from its predecessors. In order to learn latest designs in trend, Samsung even started comprehensive training sessions for all employees. Apple only introduced several versions of iPhone whereas in the meantime Samsung not only introduced Samsung galaxy, note book, smart TV and other economical smart phones but has been regularly updating its products’