Samsung Company: Workforce 2020 Executive Report

Workforce 2020: Samsung Company

Rufus Williams

Argosy University

Workforce 2020: Samsung Company

Samsung is an electronics innovation company and one of the world most profitable enterprises. It was founded in 1969 in Suwon, Korea (Moon, 2004). The company was initially a thriving export business. Samsung has set its place as world leader in mobile phone production, television manufacturing and is ranked second in the manufacture of processors. The company’s strategy has become useful as it has allowed for the expansion of the company into different countries (Moon, 2004).

Over the years Samsung has evolved through the help of its customers and employees’ feedback. The company has taken advantage of advertisement and sponsorship of tournaments and event s like the Olympics to help it in achieving global recognition. Samsung currently has over 25 production sites and close to 50 sale subsidiaries in different countries. The company’s global strategy targets eight main regions: Europe North America, Latin America, Africa, East Asia Central Asia and the Middle East.

(Chen, 2011.) Has it that companies don’t do the work; the employees’ do. A successful company depends on the summation of efforts of its workforce. The company main organizational objective with regards to its employees is through engagement. This targets at improving the intake process and setting up a strategy to retain its employees in the current competitive atmosphere (Crawford, 2015). Samsung is one of the most wanted place of work in the world. The company has been developing its form of technology to gain insight and harness employee engagement processes. Open engagement between the company and its employees has led to more benefit the employees through increased benefits regarding bonuses, health insurance and raining.

Samsung’s success in the recent years has also contributed majorly to employee motivation. There is a sense of pride working at the company. Samsung has planned to reach $400 billion revenue and becoming one of the world’s top five brands by 2020.he achievements that company has accomplished serves to motivate the workers to work better and harder. The employees are always focused on achieving a goal set by the company, and one of them being the plan to reach $400 billion and establishing its name as the world top five brands.

Samsung gives promotions based on the performance index. The company provides internal motivation through networking and communication. Through Power and responsibilities, employees can test their leadership skills. The feeling of having power is a motivating factor to the employees, and this can be achieved through promotion. The company also celebrates achievement and performance through employee appraisal by holding regular meetings to offer acknowledgment (Crawford, 2015) .Equal treatment is critical for the development and recognition of the company. The company has encouraged and motivated female employees by offering more than 300 promotions to female employees its leading managerial positions. The most significant challenge likely to face companies is determining whether the strategies that have worked previously will work in future, correctly, how will the workforce 2020 be organized and managed. Understanding the changing workforce allows companies to identify the managerial strategies that work for them.

Samsung is a technological company, and this means that change in both consumer needs and technological trends is frequent. It is crucial for the company to continue its investment policy in employee training and education. This will ensure that the workers can handle the new market conditions. Problems faced during their product failures and intense competition from its competitors led to the loss of many jobs. This was aimed cutting cost by reducing the workforce by close to 10%.Samsung has hinted at the possibility of automating most of its manufacturing processes. Gumi project introduced in the year 2013 was aimed at eliminating human effort in the manufacturing of Samsung. Human skills will be useful in decision-making processes that involve creativity intuition and rational judgment. This will also increase the pay value for human skills. Samsung’s workforce is expected to reduce yearly heading towards the year 2020. More focus is aimed at hiring skilled freelance workers who will support the company remotely. The job cut due to automation of systems is not only affecting Samsung but other manufacturing and technologically based companies.

Technology is always changing, and any company in the tech industry has to update their methods of operation, strategies of operation, product development, and workforce upgrade. Samsung always faces the challenge of edging is competitors. The major competition internationally is Apple Company. The competition is based on product quality, aesthetics, price, performance and the level to which it meets the consumer needs. Technology requires quick strategies and transitions of production mechanism for companies to remain relevant. Samsung has heavily invested in research and development to develop a unique product that serves the consumer at different levels (Lawson, 2001).

Patent litigation has impacted on the operation, financial condition and business operation of the Samsung. One of the most notable incidents was the court case on patent infringement where Apple Company won. $ 1.05 billion was paid to apple. This was a big drawback to Samsung’s progress. The use of brand power allows the company to diversify its products that allowing a greater chance of profitability. Growth highly prospects in the technology-based industry, and therefore there is a significant opportunity for Samsung to expand further and be one of the world’s top brands.

Reference:

Chen, B (2011). Always on: How the iPhone unlocked the anything-anytime future-and locked us in. Da. Capo Press

Companion, S. (2017). Motivation.