Workforce 2020 Running Header Samsung Company

Running Header Workforce 2020 Samsung Company

Workforce 2020 5 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 events like the Olympics to help it in achieving global recognition. Samsung currently has over 25 production sites and close to 50 sales 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). It is evident that companies do not do the work; the employees do. A successful company depends on the efforts of its workforce.

The company's main organizational objective regarding its employees is through engagement. This aims at improving the onboarding process and establishing strategies to retain employees in a competitive environment (Crawford, 2015). Samsung is one of the most sought-after workplaces globally. The company has developed its technology to gain insights and enhance employee engagement processes. Open communication between the company and its employees has resulted in increased benefits such as bonuses, health insurance, and training.

Samsung’s recent success is also largely attributed to employee motivation. There is a strong sense of pride in working at the company. Samsung has planned to achieve $400 billion in revenue and become one of the top five global brands by 2020. The accomplishments of the company serve as motivation for employees to perform better. Performance-based promotions are a key aspect of the company's recognition system.

The company promotes internal motivation through networking and communication. Assigning power and responsibilities allows employees to test their leadership skills. Feeling empowered is motivating, and promotions are one way this is achieved. Samsung celebrates achievement and performance through employee appraisals, including regular meetings to acknowledge accomplishments (Crawford, 2015). Equal treatment is crucial for the development and recognition of employees. The company has supported and motivated female employees by offering more than 300 promotions into managerial roles.

One of the significant challenges facing companies like Samsung is determining whether past successful strategies will work in the future and how the workforce of 2020 will be organized and managed. Understanding the changing workforce dynamics allows firms to implement effective managerial strategies. As a technology company, Samsung must continuously adapt to evolving consumer needs and technological trends. Continued investment in employee training and education is essential to equip workers for new market conditions.

However, product failures and fierce competition have led to job cuts, with Samsung reducing its workforce by approximately 10%. The company has signaled plans to automate many manufacturing processes, exemplified by initiatives like the Gumi project launched in 2013, aimed at reducing human involvement in production. While automation increases efficiency, human skills remain vital for decision-making processes requiring creativity, intuition, and rational judgment, which can also result in higher remuneration for skilled human labor.

Looking ahead to 2020, Samsung anticipates a reduction in its workforce, with a focus on hiring skilled freelance workers who can support operations remotely. Automation and technological advancements necessitate updated operational strategies and workforce skills. The company faces constant competition, notably from Apple, which competes on product quality, aesthetics, pricing, and performance to meet consumer demands (Lawson, 2001). Innovation and rapid adaptation to technological changes have been central to Samsung's competitive strategy.

Investment in research and development allows Samsung to develop unique products tailored to consumer needs. Nevertheless, patent litigation issues, such as the notable case where Apple won a $1.05 billion verdict for patent infringement, have posed challenges, impacting Samsung’s financial health and operational continuity (Capo Press Companion, 2017). Despite this, Samsung's diversified product portfolio and strong brand power present significant opportunities for growth in the rapidly evolving technological industry. The company's strategic focus on innovation and market adaptability positions it to expand further and strengthen its global brand presence.

Paper For Above instruction

Samsung Electronics, founded in 1969 in Suwon, Korea, has cemented itself as a leader in the global electronics industry through innovation, strategic expansion, and effective workforce management. Its evolution from a domestic exporter to a multinational corporation exemplifies the importance of adaptive strategies and a motivated workforce in sustaining competitive advantage. This paper explores how Samsung's human resource strategies and workforce management principles have contributed to its success, the challenges faced due to technological change and competition, and the future outlook for its workforce as it continues to innovate and adapt in the fast-paced tech industry.

Central to Samsung's ongoing success is its focus on employee engagement and motivation. The company recognizes that its employees are its most valuable asset, essential for driving innovation and maintaining competitive advantage. Samsung's engagement initiatives include transparent communication, recognition programs, and performance-based promotions, fostering a motivated and committed workforce (Crawford, 2015). Moreover, Samsung's commitment to gender equality by promoting numerous women into managerial roles underscores its inclusive approach, which enhances workforce diversity and innovation capacity (Moon, 2004).

The strategic emphasis on training and development aligns with the dynamic nature of technology markets. Samsung invests heavily in research and development, necessitating a skilled workforce capable of adapting to new technological advances. Continuous training aims to keep employees abreast of evolving consumer preferences and technological trends. This is especially crucial given the rapid pace of innovation in electronics and the necessity of maintaining product relevance and leadership (Lawson, 2001). As automation and digital transformation accelerate, Samsung faces the challenge of balancing technological advancement with human capital development.

The company’s strategic decision to automate manufacturing processes, exemplified by projects like the Gumi automation initiative, illustrates the shift toward efficiency and cost reduction (Capo Press Companion, 2017). However, automation introduces workforce reductions; Samsung projects a decline in its workforce by approximately 10% by 2020. Future workforce planning emphasizes hiring remote and freelance talent, leveraging technology to support global operations. This transition reflects a broader industry trend where technology replaces traditional manufacturing roles but increases demand for highly skilled human workers capable of overseeing complex automated systems and innovating new products.

Yet, technological change also exposes Samsung to vulnerabilities, notably from patent disputes and fierce industry competition. The high-profile lawsuit with Apple, culminating in a significant financial penalty, highlights the importance of protecting intellectual property rights and maintaining innovation leadership (Lawson, 2001). Such legal issues can divert resources and impact the organization’s strategic focus. Despite these setbacks, Samsung's diversified product offerings and vigorous R&D investments position it favorably for future growth.

Looking ahead to 2020, Samsung’s strategic goals include expanding its global footprint and enhancing its brand reputation as one of the top five world brands with projected revenues of $400 billion. Achieving these goals depends on maintaining a motivated, adaptable workforce capable of navigating technological disruptions and global market shifts. The company's emphasis on internal motivation through empowerment, recognition, and equitable treatment aims to foster innovation and retain top talent (Crawford, 2015). Achieving a balance between automation and human expertise remains critical to sustaining its competitive edge.

In conclusion, Samsung’s success in the competitive electronics industry can be largely attributed to its innovative HR strategies, emphasis on workforce engagement, ongoing investment in employee development, and proactive adaptation to technological change. While challenges such as automation, legal disputes, and fierce industry rivalry persist, Samsung’s strategic focus on workforce motivation and agility ensures its continued growth and industry leadership. The company's ability to integrate human talent with technological advancements positions it well to meet future industry challenges and capitalize on emerging opportunities.

References

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