The paper "Samsung Group International Business" is a perfect example of a business case study. Globalization and international trade are two concepts that go hand in hand with the latter depending on and contributing to the former. With the advancement in technology, the world is slowly shrinking into a small marketplace where all firms and business organizations can sell and buy without much hassle (Cavusgil et al 2012). It is imperative to note that computer technology has shortened and to some extent eliminated the distances that were a limiting factor to business expansion in the recent past.
Worth mentioning is the actuality that globalization has seen many firms move from the local markets to the global arena at a very high rate. Today, unlike a few decades ago, many firms, including the small and middle enterprises are operating as multinational enterprises. The theories of international trade are operational and relevant in today’ s world more than at any other time in the history of global business (Brink 2004). Worth mentioning is the fact that international business is associated with a number of risks, political risk also referred to as country risk being the most prominent.
Similarly, cultural risks are among the most pronounced in the global arena. This paper is an explication of how businesses operate in the global arena, and how they manage to cope with and mitigate various risks, in light of the Samsung case. The Samsung Group Founded in 1938 by Lee Byung-Chul, The Samsung Group is arguably one of the biggest companies in the international scene today. Going by the revenue of the year 2012, The Samsung Group is the biggest information technology organization globally.
The organization began as an all manufacturing and processing organization in South Korea. Three decades after its incorporation, the organization ventured into various businesses including, electronics, food processing, shipbuilding and so on. Over the years, Samsung has endeavored to embrace specialization as a way of concentrating on one area and emphasizing quality (Michelle 2010). Today, Samsung is synonymous with breakthrough technology in computers and telecommunication industries.
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