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New Start on 40th Birthday
Samsung Electronics celebrates its 40th anniversary with a new vision
New Start on 40th Birthday
  • By matthew
  • November 15, 2009, 00:00
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SAMSUNG Electronics, a flagship of the Samsung Group, celebrated its 40th anniversary on November 1. At the anniversary ceremony, the electronic giant unveiled its grand vision, “Inspire the World, Create the Future” to be a first-class centennial global company in the future.

The company intends to create a new future for the prosperity of mankind by developing new value for customers, society and employees. In this context, Samsung has added a new business sector to its infortainment structure, Life Care, which will cover medical/bio, environment/energy, and convenience/ comfort.

In addition, Samsung Electronics revealed three future directions. The first is Creative Management, which will see the company take the lead in new technology development, as well as create new markets and new lifestyles. The second is Partnership Management, which will seek to create partnership systems that are mutually beneficial to the company, its partners and the environment. The third is Human Resources Management which will involve actively encouraging employees to have an enterprising spirit and grow into the finest specialists in their fields.

With an eye toward achieving this new vision and goals, the company will push forward with strategic tasks. Most of all, in order to expand the competitive edges of its existing business sectors, Samsung Electronics will cement its No.1 position in areas such as memories, LCDs, and TVs by accomplishing dominant market shares and operating profit ratios.

By actively promoting six businesses, such as home appliances, computers and printers, the company plans to elevate its market share from the current 20% to 30% by 2020. The company will develop new businesses in the life care sector, such as bio chips, medical equipment, u-health and solar cells, in order to develop new markets and businesses and will expand its solution business to cater to the various needs of customers.

By strengthening its capabilities to analyze local lifestyles and customers, the company will operate marketing organizations differentiated by markets. To establish a marketdriven system, Samsung Electronics will beef up a company-wide marketing system, redesigning all business processes including product planning, development, production and sales in terms of value creation for customers.

Samsung Electronics also aims to form a management system that utilizes outside capabilities and resources by establishing an open innovation system. The company is planning to expand R&D partnerships with external research organizations and create new partnerships with companies in other sectors.

Thirdly, with the aim of expanding winwin management with partners, the company will specialize, systemize and diversify its social contribution activities. Samsung Electronics will take a bigger social responsibility, such as the development of win-win cooperation with partners and strengthen its global citizenship.

Furthermore, Samsung Electronics vows to contribute to the sustainable development of mankind by building a base for environment- friendly management and the strengthening of environment-friendly brands. To realize a creative corporate culture, Samsung Electronics aims to become the best company to work for and a place where global talent creates good ideas through the creation of a global human resources management system that will include long-term and future-oriented compensation systems, an open corporate culture to hire more global and female employees, and a work-smart system to promote creative performance management.

In the meantime, following a meeting in Seoul in October between the Vice Chairman and CEO of Samsung Electronics, Lee Yoon-woo , and the CEO of Microsoft, Steve Ballmer, Samsung Electronics announced that both companies will collaborate on the efficient energy usage of computers. The two companies aim to encourage PC users to purchase more environmentally friendly PC systems. Samsung expects substantial energy savings will be made when Microsoft’s Windows 7 operating system and Samsung’s 40 nanometer (nm) class DDR3 DRAM are used together.

Samsung, a strong supporter of Windows 7, will be migrating all of its corporate PCs worldwide to the new operating system beginning in 2010. The Green IT collaboration effort between the world’s number one memory company and the world’s number one software company is expected to contribute to the revival of IT markets that have been depressed because of the economic downturn.

At the beginning of September, Samsung initiated its own global marketing campaign centered around “Less Energy, More Speed”, initially focused on its energy-efficient, 40nm-class, 2Gb DDR3 DRAM.

Meanwhile, Microsoft has announced significant reductions in power consumption with the new power management function in its recently released Windows 7 operating system.