Introduction
A communication plan has an essential role in integrating the success of any business project. It is usually a critical document for solving risky and complicated business tasks. The plan is imperative for the people to develop a communication program to capture and issue all the organization pertinent details to the relevant parties timely and in an appealing way. The communication plan's primary purpose is to inform business stakeholders and other internal and external parties about Samsung company.
Samsung’s Situational Analysis (SWOT)
The situational analysis determines the health status of a business. It helps define a business's strengths, weaknesses, opportunities, and weaknesses that can impact it.
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| Strength | Weaknesses |
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The company dominates the smartphone market worldwide. Samsung has the 2 nd largest share in the market after Huawei. The company is innovative. The company is founded on innovation through research and development, making it to have a better portfolio than its competitors. The company provides environmentally-friendly innovation. This makes it to be ranked among the best technology company that maintains green power. It has a higher market share in Asia. The markets in Asia are significant; the company invested in invested hence growing substantially. |
Highly dependent on the American market. Samsung sells its products in the US and diversifies to Asia due to the US market's unreliability and unpredictability. The sale of the smartphone has declined. The sale of Samsung products has reduced due to China's market, which sells smartphones at a lower cost destroying the Samsung market. Failure of products. The company has delivered a faulty product like exploding the Samsung Galaxy A20e to a foldable smartphone. The company relies on low-end smartphones. A more significant portion of the company depends on comes from the low-end sale of smartphones. This has played a role in declining its product sale. |
| Opportunities | Threats |
|
Samsung has triple protection concepts. The air conditioning product combines both cutting-edge technology and perfect construction. It aims the customer base to ensure that more customers are retained. It is investing in HR management. Managing HR would help it achieve competitive leverage and transformational achievements. Acquisitions and diversity. Samsung can diversify into other businesses to avoiding being limited to one marketplace. It would help to avoid political polarization and negative publicity. |
High competition. Samsung is facing great competition from other smartphone companies like Apple (Omer, 2019) . Companies are out-thinking and outperforming each other hence fostering pressure on Samsung both finically and in competition. Law and legal threats. Different laws in different continents are bringing hindrance to the company operations. The company complies to avoid closure of its market in that region. Uncertainty on the economy. The recent uncertainty on the market has led Samsung to reduce its sales. Rise of the sale of counterfeiting products. Samsung has faced most counterfeit smartphones hence reducing the sales of its products. |
Stakeholder analysis
All the stakeholders related to Samsung company are very vital. For the company to meet its standard benefit, it has to assess each stakeholder's importance and interests (Schmeer, n.d). They enable the company to run a business and meet its objectives. Samsung employees are very important to the company as they work to ensure its image remains good. The company also offers a favorable environment for the employees to ensure flexible working hours to ensure that all employees acquire their rights. Also, it regulates employees’ performance to ensure nothing goes wrong and productivity is acquired. Samsung shareholders and investors are catered for through various activities such as holding direct meetings with them, conferences, and scheduling meetings to ensure that the company diversifies on its sales. The company's products are expecting high-quality products that are at an effective cost and have maximum benefit to them. The insurance providers, creditors, and suppliers provide support to the company; the company works to protect their interest by avoiding subjecting them to losses.
Objectives
Samsung uses a simple philosophy of committing its abilities and technology to improve the quality products and services, forming a stronger global society. The company is using management concepts and technology expertise to expand human resource development and technical superiority. The company also aims to develop good products and services to satisfy customers (Samsung, n.d.) . Additionally, the company targets to add its contribution to the society to the common interest and rich life.
Target Audience
Samsung targets an audience aged around 15 to 45 years. People between this age can follow the latest trends in technology. These people's lifestyle is driven by electronic gadgets like televisions and digital media. The group mostly uses smartphones to use social media platforms to connect with friends. They also use smartphones to help move their social ratings of the favorite shows. Most of the company’s customers are from the United States, Canada, and Australia (Szot et al., 2019). The use of smartphones has become inherent to people’s daily lives.
Strategy
Samsung has a business strategy that is highly flexible in a way that can change according to the external environment. Samsung has an effective market readership. This strategy enables it to observe the market and reproducing it to a new product and even adding new features from the existing products. Samsung identifies and uses the opportunities available on the market, which helps identify gaps present in the market and use the opportunity positive ly (Simonin, 2014) . Additionally, Samsung develops new products. Samsung has developed a range of electronics categorized into device solutions, information technology and mobile communications, and consumer products. The new products form one of the main competitive advantages.
Tactics
Samsung uses several tactics to promote and market its products. Samsung attends trade fairs and exhibitions to market their new and existing products, providing print booklets and posters about their products. The company also posts information about its products on its website, controlled by its internal communication network. The company also monitors the kind of promotion available and what product, and that parties involved. The company also develops new quality products like DVDs using the latest technology. These tactics enable the company to remain in the market niche.
Timeline
| Time | Activity |
| 1938 | Lee Byung-Chul founded Samsung at Taegu in South Korea. |
| 1970 | Samsung shifted to technology. They first developed black and white televisions and exporting abroad. |
| 1980 | It developed more products. It separated the electronics and semiconductors and developing an aerospace division. |
| 1985 | It established its data systems. They were developed to support the growing business. |
| The 1990s |
Samsung began to expand. The company advanced on technology and the quality of its products. LCD screens and computer monitors were introduced. The company developed a philosophy on improving quality management (Park & Gil, 2006) . |
| 2000 | Samsung Galaxy smartphone was developed. |
| 2006 | The company started selling TVs with enhanced pictures and clarity. |
| 2011 | The company advanced on smartphones, such as Galaxy S II, S III. |
| 2014 | Samsung introduced VRs to be applied on Galaxy note 4, cars, and others. |
| 2018 | Samsung develops a foldable phone. This technology was the first of a kind. |
Budget
Samsung has incorporated a guide of measurable goals and understanding to achieve higher sales by 2020. Between 2015 to 2018, the company had an expense of $161 to %181 billion, reducing revenue and expenses from 91% to 81%. The cost of selling products reduced from 62% to 54% due to favorable product pricing. This reduction increased revenue without affecting the costs too much. The company’s operating income increased by 13 billion. The company plans to attain annual sales of $400 in 2020 through its electronics (Samsung, 2020).
Personal reflection
Samsung has been on the frontline in developing quality products and advancing on technology. The company has been able to produce quality electronic products worldwide, such as semiconductors and integrated systems. My role in this communication plan was to analyze how Samsung has developed to the current states, including how it handles its stakeholders, the strength, opportunities, weaknesses, and threats that it faces and how it handles them. During developing a corporate communication plan, I faced difficulties like lack of enough response from the company employees and budget restrictions. Solving the problems, I used the Samsung official website to gather information about the company. This technique helped me to acquire more information about the company and minimize the usage of funds.
References
Omer, S. K. (2019). SWOT analysis implementation's significance on strategy planning Samsung mobile company as an example. Journal of Process Management New Technologies , 56. https://www.researchgate.net/publication/331287455_SWOT_analysis_implementation's_significance_on_strategy_planning_Samsung_mobile_company_as_an_example
Park, S., & Gil, Y. (2006). How Samsung Transformed Its Corporate R&D Center. Research-Technology Management, 49 (4), 24-49. https://www.researchgate.net/publication/233658529_How_Samsung_Transformed_Its_Corporate_RD_Center
Samsung. (, 2020). Samsung electronics . Samsung: https://www.samsung.com/levant/aboutsamsung.html/aboutsamsung/
Samsung. (n.d.). About Us . Samsung: https://www.samsung.com/us/aboutsamsung/vision/philosophy/philosophy-goals/
Schmeer, K. (n.d.). Stakeholder Analysis Guidelines. https://www.who.int/workforcealliance/knowledge/toolkit/33.pdf
SImonin, D. (2014). International Strategy: The Strategy of Samsung Group. https://www.researchgate.net/publication/285370984_International_Strategy_The_Strategy_of_Samsung_Group
Szot, T., Specht, C., Specht, M., & Dabrowski, P. (2019). Comparative analysis of positioning accuracy of Samsung Galaxy smartphones in stationary measurements. (N. U. Nabil Alshurafa, Ed.) PLOS One, 14 (4). https://journals.plos.org/plosone/article?id=10.1371/journal.pone.0215562
