4 responses 01/14
Rahul Work:
Every organization’s goal is to see growth in its business that translates to more profit generation and advancement. This is important because development is paramount and helps top managers in decision making. According to Harish Manwani, the 4G business model consists of consistent, competitive, profitable, and sound change. In this case, constant growth is essential because it ensures that a company consistently grows and advances its operation, which is necessary for its development. Every manager desires to realize a positive effect in their company as this results in better performance. Also, growth has to be competitive to achieve a competitive advantage. Managers need to have strategic plans that help their organizations to be highly competitive in the market. Besides, profit maximization is an integral part of every organization, and this ensures that growth is swift and made possible at the end of the day. However, managers should be keen to ensure that profit-making does not turn out to be the sole reason for growth but instead working towards changing people's lives. Additionally, development has to be reasonable and be able to create social value instead of solely concentrating on economic value. This is very vital because social value helps companies to thrive well in the market.
As the CEO at Samsung, I would respond to the shareholders by informing them that the company's decision was for the sake of ensuring that customers do not end up getting faulty products, which will ruin the company's reputation to the world. Despite the setback faced in this case, the company secured itself from a significant blow that would be a double tragedy if it happened. Also, I would inform customers that better products would be launched and provide better performance.
References
https://www.youtube.com/watch?v=ihoR9B7p-1Q&feature=emb_title
Sam, K & Mark, G. (April 2019). Samsung delays the launch of Galaxy Fold after Screen Failures. Los Angeles Times.
Li, Y., Bai, X., & Xue, K. (2020). Business modes in the sharing economy: How does the OEM cooperate with third-party sharing platforms?. International Journal of Production Economics, 221, 107467.
Dushyanth Work:
Samsung Performance and the 4G Model
Being the executive officer at Samsung, it was a wise decision to ensure we always offer the best to the customers. We rely on the customers to develop commodities (Kim & Gurman, 2019). The customers require mobile phones that do not expose them to harm. For instance, we can focus on improving speed to exceed 300 Mbps (Kim & Gurman, 2019). We are also interested in compatibility with other applications.
My organization is remorseful due to unavoidable delay of selling Galaxy Fold devices. The delay was necessary to offer time for installation of advanced technology (Kim & Gurman, 2019). The technology installed will raise user experience and value of the devices. The delay also allowed time for internal testing of the devices and collecting feedback from users (Kim & Gurman, 2019). Therefore, we will be assured that our customers are getting the best device.
The strategy conforms with the 4G model of organizational growth. It avoided sale of faulty devices, which had occurred in 2016 (Kim & Gurman, 2019). We had produced and released Note 7 Smartphone, which had to be recalled. The phone could burst into flames and endanger human life (Kim & Gurman, 2019). Therefore, we lost billions of dollars and affected our reputation.
We have decided to ensure we comply with the invisible hand theory. The theory, similar to the 4G model, necessitate provision of commodities that are for the common good of the society (TED, 2014). We had to bear with temporary losses to guarantee long-term profitability. Therefore, we will offer economic and social value to all shareholders (TED, 2014). The society will benefit from our services and remain sustainable.
References
Kim, S. & Gurman, M. (2019, April 22). Samsung Delays Launch of Galaxy Fold After Screen Failures. Bloomberg News, np
TED. (2014, January 13). Harish Manwani: Profit's not always the point. YouTube Video File. Retrieved on 13 January 2020 from https://www.youtube.com/watch?reload=9&v=ihoR9B7p-1Q