Integrative_Learning_Project - Urgently Needed in 12 Hours

Running head: INTEGRATIVE LEARNING PROJECT – SAMSUNG ELECTRONICS 1

INTEGRATIVE LEARNING PROJECT – SAMSUNG ELECTRONICS 10

Integrative Learning Project – Samsung Electronics

Liberty University

BUSI 650 – B01

I. Abstract

II. Organizational Setting

A. Mission

B. Customers

C. Value

III. Biblical Integration

IV. SWOT Analysis - The Samsung Company's SWOT Analysis provides information why the company has maintained its position in the global market since 2006.

A. Strengths

B. Weaknesses

C. Opportunities

D. Threats

V. Six Sigma – The Samsung Company is not just about improving the quality of products; but about improving the overall operation process of the organization.

A. DMAIC Approach

B. Balance Scorecard

VI. Customer Value - Samsung creates customer value is by providing their customers with products that exceed quality and technological standards.

A. Innovation

B. Quality Function Deployment

VII. Supply Chain Management – The Samsung Company is committed to creating lasting relationships with their clients by ensuring their processes are above standard.

A. Supply Chain Strategy

B. Inventory Process Improvement

VIII. Project Life Cycle – The Samsung Company is committed to investigating the life cycle of the products that they offer

IX. Conclusion

X. Appendices

Abstract

Samsung was founded by Lee Byung-Chull in 1938 initially as a grocery trading store. Mr. Byung-Chull “traded noodles and other goods produced in and around the city and exported them to China and its provinces” (Samsung, 2019). Throughout the following years, he continued to expand his business. As the company continued to grow, in 1977 the name changed to Samsung Electronics. As part of the growth within the company, Samsung has expanded its products to include a variety of consumer and industry electronics. This has earned the company to be “one of the most recognizable name in technology and produces about a fifth of South Korea’s total exports” (Samsung, 2019). The purpose of this paper is to examine Samsung Electronics’ business and organizational concepts such as the SWOT analysis, six sigma, customer value, supply chain management, process control and monitoring and the product life cycle and how these concepts contribute to the overall business strategy.

Key words: Samsung electronics, SWOT analysis, six sigma, customer value, process control and product life cycle.

Organizational Setting

Mission

Customers

Internal customers of Samsung Electronics are:

· Shareholders, stakeholders, and employees

· Minorities and Women

· Supply Partners

· Retail Stores

External Customers of Samsung Electronics are:

· Families who purchase Samsung products

· Businesses that sell Samsung products

Value

The value I would bring to Samsung would be creating and producing new and more efficient ways for people to connect with each other when separated by distance. I believe it is necessary for families to put their electronic devices down for scheduled family fellowship. It is also an important value to promote the Vision of the company which states: “The Vision 2020 is at the core of our commitment to create a better world full of richer digital experiences” (https://www.samsung.com/us/aboutsamsung/vision/vision2020/).

Biblical Integration

It is important for organizations like Samsung to continue to promote new ways to stay connected worldwide and sustain the core beliefs and care for each other. Samsung is in a business that provides a product and service to customers in a society that is evolving around technology worldwide. For example, people are so fascinated with laptops, tablets, and cell phones that they are not interacting with each other face to face. Psalm 119:130 states: “the unfolding of your words gives light; it imparts understanding to the simple” (English Standard Version). It is important for Christians to remember that with the increased use of social media and the lack of face-to-face communication, we must ensure that this type of communication does not take control of what God’s word expect of each of us.

SWOT Analysis

Strengths

Weaknesses

Opportunities

Threats

References

Retrieved from: https://www.biblegateway.com/passage/?search=Psalm+119%3A130&version=ESV.

Samsung. (2019). In Encyclopædia Britannica. Retrieved from https://academic-eb-com.ezproxy.liberty.edu/levels/collegiate/article/Samsung/604103

Samsung Electronics Wins More Than 100 Awards at the 2016 Consumer Electronics Show. (2016). Entertainment Newsweekly, 96. Retrieved from https://bi-gale-com.ezproxy.liberty.edu/global/article/GALE%7CA441000183?u=vic_liberty&sid=summon

Annotated Bibliography

Galli, B. J. (2018). How to effectively use economic decision-making tools in project environments and project life cycle. IEEE Transactions on Engineering Management, , 1-9. doi:10.1109/TEM.2018.2861381

This article discusses how vital economics affect project management and project environment. It displays the concerns an economic decision can have in a project. For example, it displays when determining which project environment is the best and how to distribute the product. The authors also examine the different economic decisions and decision making tools that would be beneficial in the project environment and project life cycle. The research determines the right tools an information management can focus their economic decision making and managing the project rather than the bottom line. This will allow businesses to perform at a higher standard increasing profits and improving costs benefiting the long term and short term goals.

Grace, D., & Lo Iacono, J. (2015). Value creation: An internal customers’ perspective. Journal of Services Marketing, 29(6/7), 560-570. doi:10.1108/JSM-09-2014-0311

The purpose of this paper is to understand and deliver the needs and wants of external customers. It discusses the perspective of the value co-creation process (i.e. external customers’ perception) but very little about other stakeholder perspectives, in particular, internal customers’ perspectives of the value co-creation process.

Kumar, S., Clemens, A. C., & Keller, E. W. (2014). Supplier management in a manufacturing environment: A strategically focused performance scorecard. International Journal of Productivity and Performance Management, 63(1), 127-138. doi:10.1108/IJPPM-12-2012-0137

This article discusses managing a supplier base, which can be both challenging and rewarding. Instances abound where the lack of attention to supplier management has caused once successful businesses great losses or even failures. The article accesses a supply base using the combined approach of discrete choice analysis (DCA) and total cost of ownership (TCO) can help a company determine the necessary features required to alleviate the strain caused by doing business with poorly managed companies.

Llach, J., Bagur, L., Perramon, J., & Marimon, F. (2017). Creating value through the balanced scorecard: How does it work? Management Decision, 55(10), 2181-2199. doi:10.1108/MD-11-2016-0812

The purpose of this paper is to further research the balanced scorecard (BSC) model after having determined that previous work has so far neglected to explore the interrelationships between the model’s dimensions and the influence contextual factors may have.

Meredith, J. R., & Shafer, S. M. (2016). Operations and supply chain management for MBAs (6th ed.). Hoboken, NJ: John Wiley & Sons, Inc. ISBN: 9781119239536

Meredith and Shafer overlay the principles of operations and supply chain management, so students understand the value of the concepts and analysis towards the overall framework of management practices and the delegation of authority through systems and processes.

Perez-Franco, R., Phadnis, S., Caplice, C., & Sheffi, Y. (2016). Rethinking supply chain strategy as a conceptual system. International Journal of Production Economics, 182, 384-396. doi:10.1016/j.ijpe.2016.09.012

Samsung Electronics Wins More Than 100 Awards at the 2016 Consumer Electronics Show. (2016). Entertainment Newsweekly, 96. Retrieved from https://bi-gale-com.ezproxy.liberty.edu/global/article/GALE%7CA441000183?u=vic_liberty&sid=summon

This article discusses the number of awards which Samsung has received. It also discusses that Samsung was named the receipient of a number of media and industry awards.

Samsung, (2019). In Encyclopaedia Britannica. Retrieved from https://academic-eb-com.ezproxy.liberty.edu/levels/collegiate/article/Samsung/604103

This website provides online facts regarding Samsung Electronics.

Samsung electronics co ltd (005930) - financial and strategic SWOT analysis review. (2018). (). London: GlobalData plc. Retrieved from ProQuest Central; ProQuest Central Retrieved from http://ezproxy.liberty.edu/login?url=https://search-proquest-com.ezproxy.liberty.edu/docview/2214924605?accountid=12085

This article discusses the SWOT Analysis for Samsung. Samsung is noted as having the largest market share since 2006. The company holds an extensive patent portfolio with an estimated 5072 global patents in 2015, giving Samsung a competitive advantage over other technological companies. This article also highlights some of the company’s weaknesses; such as, Samsung not having its own operating system/software. Samsung is dependent on an external OS Android system that is owned by Google. Also Samsung has had a number of product safety issues such as a problem with overheating batteries that caused 26 burns and 55 reports of property being damaged as of 2017.

Sivasamy, K., Arumugam, C., Devadasan, S. R., Murugesh, R., Thilak, V. M., & M. (2016). Advanced models of quality function deployment: A literature review. Quality and Quantity, 50(3), 1399-1414. doi:http://dx.doi.org.ezproxy.liberty.edu/10.1007/s11135-015-0212-2

Sunder, V. (2013). Six sigma-A strategy for increasing employee engagement. The Journal for Quality and Participation, 36(2), 34-38. Retrieved from http://ezproxy.liberty.edu/login?url=https://search-proquest-com.ezproxy.liberty.edu/docview/1426765353?accountid=12085

The purpose of this paper is to provide a process improvement methodologies that have taken shape and provided success to organizations in the past. Nothing compares to the effectiveness of Six Sigma, however, when it comes to improving a company’s operational efficiency, raising its productivity, and lowering its costs. Deploying this key business strategy involves human resources across all levels in the organization because it also requires a cultural change.

Wu, Y., & Li, E. Y. (2018). Marketing mix, customer value, and customer loyalty in social commerce: A stimulus-organism-response perspective. Internet Research, 28(1), 74-104. doi:10.1108/IntR-08-2016-0250

Based on stimulus-organism-response model, the purpose of this paper is to develop an integrated model to explore the effects of six marketing-mix components (stimuli) on consumer loyalty (response) through consumer value (organism) in social commerce (SC).