The paper “ Samsung – Strategies, Product and Services, Improvements Made in Line with Business Paradigms” is a fascinating example of the case study on business. Samsung is a company that has its origins in South Korea. It was founded in the year 1938 by Lee Byung-Chull who, like any other businessperson, wanted to create a unique product for a readily available market. Originally, Samsung dealt in agricultural produce. As time went by, it became apparent that agricultural produce would need another angle to it. In appreciating this fact, Samsung began value addition to agricultural produce and came up with a manufacturing plant for producing noodles.
This was not only well-received, but it also created a need for auxiliary products that were to be consumed alongside noodles. The rapid growth of Samsung ensued, ensuring that the company set up shop in Seoul and expanded operations from its original location in Su-Dong. After World War II, political instability between North and South Korea forced the two countries into war. This saw a magnitude of destruction that would later require a heavy reconstruction of infrastructure.
Unbeknown to most people, this provided a perfect opportunity for Samsung to venture into unlikely industries. The textile industry may have had a direct link to agriculture, but the others did not. Samsung ventured into the textile industry, construction industry, and later on in the 1960s, the electronics industry. All these subsidiaries form the now larger Samsung Group. Samsung’ s venture into electronics first started through the production of television sets. Later on, due to its high-quality semiconductors, it started producing telecommunication devices like phones, computers, and so on. Currently, Samsung Group has diversified its portfolio to include the production of most household electric goods, mobile phones, and computers.
They also produce mobile phone accessories and components for other mobile phone manufacturers like Apple. For instance, most processors in Apple products are manufactured by Samsung. The household goods produced by Samsung include refrigerators, home theatres, DVD players, VCRs, watches, and cameras. They also manufacture equipment used in medical procedures.
Khanna, T, Song, J & Lee, K 2011, “The Paradox of Samsung Rise”, The Globe: Harvard Business Review, pp 142 – 149.
Woolfolk, J 2013, Samsung Details Plans for San Jose Expansion, Mercury News, viewed 26th April, 2013,