Headquartered in Samsung town, Seoul, Samsung company group is a South Korean multinational company. It was founded in 1938 by Lee Byung-Chul as a trading company in Korea. However, as time passed by, it diversified its businesses to include textiles, food processing, insurance, and retail and electronics. The company was later separated into four groups, and the part with Samsung name was left to major in electronics and it is thus its major source of income. Samsung has therefore evolved from a small trading company to an international class corporation with many businesses (Samsung, 2014).
As of 2016, Samsung is involved with a business that covers technology, semiconductors, petrochemicals, medicine, fashion, plant construction among others. The success of Samsung can be attributed to the way it combines expertise in its operations. However, it continues to expand and enter into new markets so as to deliver its products and services to new customers which in the long run will increase its revenue and ensure its future sustainability. In this report, the focus will be to examine what Samsung or any other company can do to gain a considerable market share in the UK.
For instance, in an effort to increase their brand recognition in the UK, Samsung was among the sponsors of London Olympics games in 2012, and it is also a sponsor of English based premier league. These are some of the moves that a company aiming at increasing its market share should be doing to increase its popularity in the UK and also in other parts of the world. However, apart from increasing brand recognition in the UK, Samsung is also aimed at delivering high-tech products to its customers with the aim of reaching both the high-end and middle-class clients. In a nutshell, this article is divided into several parts and the parts will help us understand how a company can use information and knowledge for it to succeed in the business.
Assessing information and knowledge needs
Decisions by Samsung senior management that could ensure its success in UK market:
With its origin in South Korea, Samsung is one of the leading companies in the world regarding market share when it comes to companies dealing with electronics. This success cannot just come from nowhere but it can be attributed to some of the decisions made by senior management and also from other stakeholders. In the modern world, one of the ways of increasing the possibility of success of a company is through the promotion of events. These changes the peoples’ perception towards the company, and the long-term effect is more customers to their products.
In this particular issue of promotion, Samsung has not been left behind as it was a sponsor of the London Olympics games in 2012 and it has also been a sponsor of the famous English premier league. These are events that are broadcasted all over the world and Samsung appearing in the televisions in the UK, and all the world increases its brand recognition. For such promotions to have a positive impact on the company and to meet the aims and objectives, the management must have strategies that will meet their objectives. For instance increasing brand recognition in the UK must make decisions and come up with market objectives that help them achieve this aim (Zainab, 2014).