Essay Example on Global Business Dynamics: My Experience with Samsung Group

Introduction

Multinationals connotes companies that do businesses beyond their countries local boarders. (Cullen & Parboteeah 2013). I have been involved in a Multination situation before. I have worked for a Samsung group, a multinational electronics manufacturer. During the period, I did management and consultancy related issues for the giant company. These responsibilities expose one to the dynamic of the global market and its impact on the business. At the moment, the company was still the global technological powerhouse enjoying substantial profit margins (Vlad & Yevgeniy 2010). Mobile phone manufacturing is the companies golden goose.

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Challenges

Many global market challenges come with marketing products for a multinational. They range from competition from other manufactures to political interference and sanction. Samsung has faced a significant decline in the market in the cause of business. In 2019 the company reported a 56% drop in the quarterly report on profit margins (Friedman, 2005). The decrease was associated with the trade rows between Japan and South Korea (Cullen & Parboteeah 2013). This tension came with economic sanctions and trade bottlenecks. The global macro-economic environment also had an impact on the marketing strategies of the company. Advancement in technology take away the dominance of the major companies hence flattening the world (Friedman, 2005). The rival companies like Apple continued to win the admiration of smartphone users globally. This was amid the complaint by the Samsung customers about the quality of their products.

Observation

I realized that competition in the global market is quite unfair. This is because of the excellent management of the company is not a guarantee of success. The global market is unfairly affected by the political upheavals and unprecedented diplomatic rows between countries (Vlad & Yevgeniy 2010). Many countries would impose trade bottlenecks with the aim protect the local industries (Bartlett & Ghosh 1987). Consequently, Other than satisfying the need of the consumers, it necessary for the management to predict the political and economic dynamics of various trade blocks.

Conclusion

In conclusion, I learned that I could offer solutions to an unprecedented situation. I was one of the proponents of the idea that the company should delay the release of the much-anticipated Galaxy fold phones due to constant complaints by the users. With this skill, I will be able to pay detail to future market dynamics. The global market is full of uncertainties. As such, it requires focus and instant solutions. Success in the global market demand passion and commitment.

References

Bartlett, C. A., & Ghoshal, S. (1987). Managing across borders: new strategic requirements. Sloan Management Review, 28(4), 7-17.

Cullen, J. B., & Parboteeah, K. P. (2013). Multinational management. Cengage Learning.

Friedman, T. L. (2005). The world is flat: A brief history of the twenty-first century Macmillan.

Vlad Mahamud & Yevgeniy Rotenberg (2010). International business for the entrepreneur: Globalization. Opportunities and threats to developing countries business.