FUNDAMENTAL OF MANAGEMENT TITLE: Samsung Company PREPARED BY: MUHAMMAD IKHWAN BIN RAMLI (2012619556) NURFATIN AMALINA BINTI NAZUMUDDIN (2012224332) NOR SUZIYANA BINTI NOR SAMSUDIN (2012456178) NIK NURUL AFIQA BINTI NIK ZAINI (2012255996) LECTURER: MADAM FAZIDA BINTI KARIM ACKNOWLEDGEMENT . Bismillahirahmanirrahim. First of all, we would like to thank ALLAH S. W. T and his messenger, Prophet Muhammad S. A. W. It is because of his blessing, it is possible for us to finish this assignment. We also like to thank our parents. It is because of them we can finish and possibly to do this assignment.
With their support, hope and prayers, we were able to complete this assignment. We also like thank our lecturer, Madam Fazida Binti Karim. Due to her guidance, ideas and knowledge, we were able to finish this assignment with full inspiration and determination. She also gives a lot of advice on how to finish this assignment. We would also like to thank all of our classmates because of their classmates because of their support, new ideas, opinions and additional information for this assignment. Finally, we would like to thank everyone that got involved in helping to complete this assignment successfully.
Without them, we would be facing plenty of complications and challenges for finish this assignment CONTENTS No| Contents| Page| 1| Introduction| 3-4| 2| Planning| 5-8| 3| Organizing| 9-13| 4| Motivation| 14| 5| Leading| 15| 6| Control| 16| 7| Conclusion| 17| 8| References| 18| 9| Appendices| 19-20| INTRODUCTION From 1958 onwards Samsung began to expand into other industries such as financial, media, chemicals and ship building throughout the 1970’s. In 1969, Samsung Electronics was established producing what Samsung is most famous for, Televisions, Mobile Phones (throughout 90’s), Radio’s, Computer components and other electronics devices. 987 founder and chairman, Byung-Chull Lee passed away and Kun-Hee Lee took over as chairman. In the 1990’s Samsung began to expand globally building factories in the US, Britain, Germany, Thailand, Mexico, Spain and China until 1997. In 1997 nearly all Korean businesses shrunk in size and Samsung was no exception. They sold businesses to relieve debt and cut employees down lowering personnel by 50,000. But thanks to the electronic industry they managed to curb this and continue to grow. The history of Samsung and mobile phones stretches back to over 10 years. In 1993 Samsung developed the ‘lightest’ mobile phone of its era.
The SCH-800 and it was available on CDMA networks. Then they developed smart phones and a phone combined mp3 player towards the end of the 20th century. To this date Samsung are dedicated to the 3G industry. Making video, camera phones at a speed to keep up with consumer demand. Samsung has made steady growth in the mobile industry and are currently second but competitor Nokia is ahead with more than 100% increase in shares. Introduction of Samsung Samsung is known globally for its electronic products and it is one of the successful brands in the electronic industry.
It is an established company almost all around the world. Samsung Electronics is a South Korean multinational electronics and information technology company headquartered in Samsung Town, Seoul. It is the flagship subsidiary of the Samsung Group. With assembly plants and sales networks in 61 countries across the world, Samsung has approximately 160,000 employees. In 2009, the company took the position of the world’s biggest IT maker by surpassing the previous leader Hewlett-Packard. Its sales revenue in the areas of LCD and LED displays and memory chips is number one in the world.
Samsung History Unlike other electronic companies Samsung origins were not involving electronics but other products. In 1938 the Samsung’s founder Byung- Chull Lee set up a trade export company in Korea, selling fish, vegetables, and fruit to China. Within a decade Samsung had flour mills and confectionary machines and became a co-operation in 1951. PLANNING Mission Statement Samsung’s current Management Philosophy is “We will devote our human resources and technology to create superior products and services, thereby contributing to a better global society. Since its founding in 1938, SAMSUNG has maintained a mission statement that responds both to its own change, and to new developments in the world: “Economic contribution to the nation”, “Priority to human resources”, “Pursuit of rationalism”. Each slogan represents significant moments in SAMSUNG’s history, reflecting different stages of the company’s growth from a domestic industrial leader into a global consumer electronics powerhouse. In the 1990’s, we transformed our mission statement to keep pace with our growing global operations, rapid changes in the world economy, and escalating competition from well-established rivals.
Vision As stated in its new motto, Samsung Electronics’ vision for the new decade is, “Inspire the World, Create the Future. ” This new vision reflects Samsung Electronics’ commitment to inspiring its communities by leveraging Samsung’s three key strengths: “New Technology,” “Innovative Products,” and “Creative Solutions. ” — and to promoting new value for Samsung’s core networks — Industry, Partners, and Employees. Through these efforts, Samsung hopes to contribute to a better world and a richer experience for all.
As part of this vision, Samsung has mapped out a specific plan of reaching $400 billion in revenue and becoming one of the world’s top five brands by 2020. To this end, Samsung has also established three strategic approaches in its management: “Creativity,” “Partnership,” and “Talent. ” Samsung is excited about the future. As we build on our previous accomplishments, we look forward to exploring new territories, including health, medicine, and biotechnology. Samsung is committed to being a creative leader in new markets and becoming a truly No. 1 business going forward.
Goals a global leader in digital convergence technologies and device solutions, recently announced the second year results of its sweeping PlanetFirst initiative, a companywide commitment to become one of the world’s most environmentally friendly companies by 2013. Marking the progress towards achieving the comprehensive sustainability goals set out under the PlanetFirst initiative, Samsung outlined the following key milestones: * Reduced sales-normalised greenhouse emissions* from its manufacturing facilities by 38% during the first half of 2011, when compared against mission levels at the end of 2008 * Attained global eco-labels for 2,210 product models as of the end of 2010, making the company No. 1 in the world for environmentally friendly products for the fifth straight year * Invested an additional 1. 6 trillion won (R10. 25 billion) in environmentally friendly product development and green manufacturing sites in 2010 “Samsung continues striving to meet the global, companywide commitment laid out in 2009 under our Eco-Management 2013 initiative,” said Park Sangbum, senior vice president and head of the CS ; Environment Center, Samsung Electronics. We’re focused on instilling an eco-management mindset in all employees in order to become a true leader in sustainable business practices. ” Says Deon Liebenberg, Managing Director for Samsung South Africa; “We are very proud that Samsung, as a leading global brand, has taken a sustainable approach to climate change and are committed to complying with this global initiative. ” Samsung reported its progress across four core objectives – laid out under the Eco-Management 2013 initiative unveiled in July 2009: OBJECTIVES Grow our core business in Egypt. * Expand our core business outside Egypt. * Maintain market leadership and increase our market shares. * Loyalty and commitment to our Customers. * Build alliances with the leading manufacturers in the industries we serve. * Keep investing in People, Systems, Facilities and Distribution Systems with a long term view. ORGANIZATION Oh-Hyun Kwon • Vice Chairman ; CEO, Samsung Electronics,
Head, Device Solutions, Samsung Electronics (2012~Present) • Vice Chairman ; Head, Device Solutions, Samsung Electronics (2011~2012) • President ; Head, Device Solutions, Samsung Electronics (2011~2011) • President ; Head, Semiconductor Business, Samsung Electronics (2008~2011) • President ; Head, System LSI Division, Samsung Electronics (2004~2008) • Head, LSI Technology, Samsung Electronics (2000~2004) • Head, ASIC Business, Samsung Electronics (1998~2000) Gee-Sung Choi • Head, Corporate Strategy Office (2012~Present) Vice Chairman ; CEO, Samsung Electronics (2010~2012) • President ; CEO, Samsung Electronics (2010~2010) • President ; Head, Digital Media ; Communications Business, Samsung Electronics (2009~2009) • Head, Telecommunications Networks Business, Samsung Electronics, Head, Mobile Communications Division, Head, Corporate Design Center (2007~2009) • Head, Digital Media Business, Samsung Electronics (2003~2007) • Head, Visual Display Division, Samsung Electronics (1998~2003) • Head, Memory Sales and Marketing, Semiconductor Business, Samsung Electronics (1994~1998) Ju-Hwa Yoon President ; CFO, DMC Management Office, Samsung Electronics, President ; CFO, Corporate Management Office, Samsung Electronics (2011~Present) • President ; CFO, Corporate Management Office, Samsung Electronics (2010~2011) • President ; Head, Corporate Auditing Team, Samsung Electronics (2009~2009) • Head, Management Support Team, Corporate Executive Staff, Samsung Electronics, Head, Global ERP Task Force, Corporate Executive Staff, Samsung Electronics (2007~2009) • Head, Management Support Team, Corporate Executive Staff, Samsung Electronics, Head, Management Innovation Team, Corporate Executive Staff, Samsung Electronics (2004~2007) • Head, Management Support ; Innovation Team, Corporate Executive Staff, Samsung Electronics (1998~2004) • Head, Management Support ; Innovation Group, Corporate Executive Staff, Samsung Electronics (1996~1998) Dong-Min Yoon • Attorney at Law, Kim ; Chang Law Office (1999~Present) • Director, Social Protection and Rehabilitation Bureau at the Ministry of Justice (1998~1999) • Chief, Planning Management Department at the Ministry of Justice (1997~1998) • Public Prosecutor, Daejeon Supreme Public Prosecutor’s Office (1995~1997) In-Ho Lee • Corporate Advisor, Shinhan Bank (2009~2011) Chief Executive Officer, Shinhan Financial Group (2005~2009) • President & Chief Executive Officer, Shinhan Bank (1999~2003) • Director & Deputy President (Executive Vice President), Shinhan Bank (1991~1999) Han-Joong Kim • Professor Emeritus, Yonsei University (2012~Present) • Chairman, Korea University Sport Federation (2010~2012) • Trustee, Korean Council for University Education (2008~2012) • President, Yonsei University (2008~2012) • Chairman, Board of Directors, The Korean Society for Preventive Medicine (2006~2008) • Professor, Department of Preventive Medicine & Public Health (1982~2012) Byeong-Gi Lee • Professor of Electrical Engineering, Seoul National University (1986~Present) • President, IEEE Communications Society (2010~2011) Commissioner, Korea Communications Commission (2008~2010) • President, Korea Information and Communication Society(KICS) (2007~2007) • President, Korea Society of Engineering Education(KSEE) (2003~2004) • Vice Chancellor for Research Affairs, Seoul National University (2000~2002) • Member of Technical Staff, AT&T Bell Laboratories (1984~1986) MOTIVATION The following are our strengths related to implementing motivation – bonus system: * Adaptation of, already existing, motivation systems to organizational changes generated by the implementation of a new strategy. * Revitalization of the systems that do not produce desirable business results. * Creation of motivation systems based on effectiveness (with an metrics system already implemented). Adaptation of the system to organizational culture; creation of systems that strengthen organizational functional culture. * Effective implementation of the system, ensuring that the middle and upper management be committed to and support it. Implementation or revitalization of the motivation system results in: * Increased employee commitment. * Improved business metrics. * Consolidation of changes, new business strategy. * Creation of functional teams and cooperation to meet organizational objectives. From our broad experience we see also the following as motivation and engagement leverages: * Implementing/revitalization of measures system.
Our experience also shows that besides greater motivation it also leads to greater effectiveness (average growth of 10-15%) * “Goal-oriented Development! ” type of a project that combine several tools into a integrated development project for key employees/leaders. We have carried out such in many companies, P&G Gillette, Samsung and Kamis among them. When carrying out a motivational – bonus system project we often also implement solutions as: * Performance Management System * Managing by Objectives System * Key Performance Indicator System (on a line staff level) * Skill Matrix * Competence Model * Balanced Scorecard * Management Academy with elements of individual coaching LEADING PATH-GOAL THEORY Samsung company use path-goal theory for leadership concept.
According to this theory, it is leader job’s to help the followers in achieving Samsung goals and provide the necessary direction and support. So, Samsung president himself also has to assist Samsung employees and make sure that they enjoy working at our company. This will make Samsung goals more easy to be achieve because Samsung employees is enjoy their working. LEADERSHIP STYLES * DIRECTIVE LEADER According to this theory, the employees are need to know what the leader want from them, schedules work to be done, and give specific guidance to accomplish task. Samsung company are avoiding this type of leader styles to ensure that Samsung employees are not feel pressure and stress. * SUPPORTIVE LEADER
Leader must be friendly and shows concern for the needs of employees. In order to make that happen, every month we will give a reward to the best leader that most friendly and most concern to Samsung employees. * PARTICIPATIVE LEADER Samsung company always having a group-decision making with Samsung manager and employees in order to listen to their suggestion before making a decision. The ideas from employees sometimes very useful to Samsung company. * ACHIEVEMENT-ORIENTED LEADER Samsung also sets challenging goals and expects employees to perform at their highest levels. It makes employees work harder in order to achieve Samsung Company. CONTROL
The objective of this policy is to ensure that the disclosure of information about the Company is accurate, complete, fair and timely in accordance with applicable legal requirements, and to establish disclosure-related responsibilities and procedures, and guidelines on managing disclosure information in order to prevent improper transaction by officers and employees. The CEO shall be responsible for matters related to the disclosure control policy. Matters with respect to disclosure practices and the management of disclosure information shall be determined by this policy except otherwise stipulated in applicable laws, regulations, and the articles of incorporation.
To prepare comprehensive Audit Programmes for effective evaluation of internal control systems and procedures. To prepare a yearly Audit Plan with focus on operational controls and risk assessment of the company To determine the adequacy and effectiveness of the company’s internal control systems. To ensure current practices/controls are in compliance with current accounting standards, company’s policies and procedures. To prepare audit reports on audit findings and the recommendations by management for submission and presentation to the Audit Committee on a quarterly basis. To liaise and coordinate with the external auditor to ensure adequate audit coverage and minimize duplication of work. review company internal control system.
Execute audit objectives as designed on audit program efficiently and effective Conduct audit implmentation (operational audit) CONCLUSION In conclusion, I learned how hard it is when you open an organization or company. I also learned about how to manage the company and subordinate. In addition, I know the function of the manager and how to become a good manager. In group discussions, we have learned about the basic management planning, organizing, leading and controlling. I also learned about motivation. In planning I learned how to create goals when opening an organization or a company, how to set goals and ways to achieve their goals. In the organization, I learned about how to create and structure the organization.
In the lead, I learned about how to make employees feel enjoy to work at my company and how to get a good and responsible leaders. I also learned about how to manage product quality. Finally, a company must have a plan, organization, control and good leadership to form a perfect company REFERENCES path goal theory in leadership – Google Search www. google. com. my Path–goal theory – Wikipedia, the free encyclopedia en. wikipedia. org motivation of samsung company – Google Search Motivation – bonus system http://www. samsung. com/hk_en/aboutsamsung/samsunggroup/annualreport/downloads/2003/SAMAR04_11_24p. pdf www. samsung. com APPENDICES TABLET Samsung Galaxy Camera Samsung Electronics Factory Samsung computer