Identifying Issues and Providing Recommendations
Question
1) Critical analysis os of chief formal institutions
Regulatory ( analysis of international trade, FDI, industry, and product-specific regulations)
Analysis of economic & Political risks (impact of these risks on the global strategy of the industry and firm selected)
Analysis of culture/norms and cognitive Pilliar (Impact on the global strategy of the industry and firm selected)
2) Use ethics, CSR, and sustainability principles approaches to identify issues and make recommendations.
a) Ethics
b) CSR
c) Sustainability
3) Critical analysis of the industry, competition, and strategic groups.
a) Industry structure analysis
b) Industry competition analysis
c) Strategic group analysis
4) Application of the resource-based view (RBV) and value chain analysis
a) Identification of resources and Capabilities
b) VRIO analysis with a summary table to show the outcome
c) Value chain analysis
d) Financial ratio analysis
5)Global strategy issues arising from the above analysis and recommendations
a) International strategy-level issues and recommendations (E.g when, where, and how issues)
b) International competitive dynamic issues
c) Corporate level is strategic issues and IB and recommendation
d) Multinational strategy issues and recommendations
Table of Contents
2. Identifying Issues and Providing Recommendations
Samsung provides a huge range of electronic products, including smartphones, televisions, home appliances, tablets, and many more, and this brand uses cutting-edge technology. This paper will discuss various issues of this company related to ethics, CSR, and sustainability and also some recommendations to mitigate these issues.
Ethics
Issues
Different ethical issues are prevalent in this brand. One main issue is to slow down mobile phones, so customers buy new ones. There are many ethical issues in some key areas like human rights, supply-chain management, pollution, environmental reporting, workers’ rights, and so on (Samsung.com, 2021). This company violates its ethical principle regarding justice in its supply chain by influencing child labour. Engaging children in sourcing materials for manufacturing products is a major ethical issue. Other ethical issues are prevalent regarding practising maleficence. Samsung supported activities of mining that can harm the lives of miners. Samsung uses tin in its products, which are sourced from Bangka island. Children are engaged in these tin mines. This is an ethical issue for this company.
Recommendations
This leading brand must implement some strategies to mitigate these issues. Some recommendations to overcome these ethical issues are –
- Samsung must implement ethics management principles. To eliminate any violence regarding ethical standards.
- This brand must introduce compliance management programs to avoid business risks (Samsung.com, 2021)
- This company must implement strategies to eliminate the engagement of child labourers in mines and introduce some policies and regulations to provide safety and security to miners.
CSR
Issues
“Corporate social responsibilities” help a company to manage integration with society and the environment to perform business operations by engaging all stakeholders (Bian et al. 2021). Samsung is a leading electronic brand in modern markets. However, it has some issues regarding CSR practices. Workers of this company face many problems due to a lack of health and safety-related policies and regulations. The lack of protective masks, machinery, and safety equipment creates many problems for workers in this company. Many workers suffer from various illnesses due to chemical exposure during manufacturing (Chang et al. 2019). Conflict or disputes among labourers is also a CSR-related issue in this company.
Recommendations
Some recommendations or suggestions for this leading brand to mitigate issues related to CSR are –
- Samsung must maintain a clean structure in organisations to reduce the chemical exposure of its workers.
- This brand must respect its stakeholders, like employees and customers, and provide them with security and safety (Chang et al. 2019)
- This company should ensure the health and safety-related policies to minimise the suffering of workers due to different illnesses.
Sustainability
Issues
Technologies have helped us to enjoy an easier lifestyle. However, the overuse of technology has many adverse impacts on our environment. The materials and technologies used by Samsung to manufacture its products have many adverse environmental impacts. Many products create pollution and huge carbon emissions, which are the reasons for global warming and pollution. Dumping of unused devices of this brand creates environmental degradation and wastage of resources.
Recommendations
- This company needs to be engaged in activities to minimise environmental pollution by its devices or technologies (News.samsung.com, 2021)
- Reuse and recycling methods must be introduced in this company.
Reference
Journals
Bian, J., Liao, Y., Wang, Y.Y. and Tao, F., 2021. Analysis of firm CSR strategies. European journal of operational research, 290(3), pp.914-926. <https://e-tarjome.com/storage/panel/fileuploads/2020-09-01/1598964763_gh163.pdf>
Chang, V., Zhang, W. and Xiong, C., 2019. The strategic view and development of corporate social responsibility: the case study of Samsung. International Journal of Strategic Decision Sciences (IDS), 10(1), pp.105-130. https://picture.iczhiku.com/resource/paper/sHiDitzdfhHUgVXv.pdf
Website
News.samsung.com, 2021. [Editorial] How Samsung Works for a Better, More Sustainable Future for All Through Innovation, viewed on 20/10/2021 <https://news.samsung.com/global/editorial-how-samsung-works-for-a-better-more-sustainable-future-for-all-through-innovation>
Samsung.com, 2021. Samsung viewed on 20/10/2021 <https://www.samsung.com/ca/>
Leave an answer