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Samsung electronics master
- 1. SAMSUNG ELECTRONICS Seoul, Korea Japan / Korea Trip 2001 Fabio Armani Julian Carey Jennifer Goodwin
- 2. Agenda • Samsung Group - Sejarah & Struktur • Samsung Electronics • Sejarah • Fokus perusahaan • Ikhtisar keuangan • Strategi • Struktur organisasi • tantangan
- 3. Samsung Group • Didirikan pada tahun 1938 • eksportir ikan kering, sayuran, dan buah-buahan • pabrik tepung dan gula-gula mesin • 1950 Stabilisasi Ekonomi • Perang Korea - Samsung kehilangan semua aset • bertujuan untuk membantu membangun kembali perekonomian Korea; memasuki industri manufaktur (gula, kain) • menjadi pemimpin dalam praktek bisnis modern (merekrut dari luar) • Ekspansi 1960 Industri Key • memasuki elektronik dan industri kimia • 1969 didirikan Samsung Electronics Co.
- 4. Samsung Group Elektroni k 28% Mesin & Alat Berat 6% Bahan kimia 2% Jasa keuanga n 26% Lain 38% % Dari Penjualan ($ 72B) • distribusi • hotel • taman hiburan tema • perdagangan • konstruksi • tekstil • pengiklanan • tim bisbol • keamanan • kamera • pesawat terbang • kapal • truk sampah • truk minyak • senyawa polimerisasi • plastik • bahan kimia khusus • asuransi jiwa • layanan kartu kredit • perdagangan efek • jasa keuangan dan manajemen kepercayaan • peralatan rumah • komunikasi nirkabel • semikonduktor
- 5. Samsung Electronics • Established in January, 1969 • 1970’s: Bet the future on electronics – laid the groundwork for electronics in Korea – helped the domestic economy grow – paved the way for exports • 1980’s: A more comprehensive electronics company – established plants in Portugal and US – established Semiconductor and Communication corporation – began memory chip business • Early 90’s: Integration and Globalization • Mid-Late 90’s: Implementing new management strategies • New Millenium: Digital Vision
- 6. Focus: 4 Core Markets Home Multimedia Mobile Multimedia Personal Multimedia Core Components
- 7. Samsung Electronics Semiconductors 40% Digital Media 29% Telecommunications 23% Home Appliances 8% % Sales ($27B) % Operating Profit Semiconductors 79% Digital Media 6% Telecommunications 12% Home Appliances 3%
- 8. Financial Overview • Revenue growth and Operating Income suffered in 1996 • 1997: New CEO Jong Yong Yun – major turnaround • new business focus • new management practices – very positive results in 1999, but… Operating Income (billion Won) Revenue (billion Won)
- 9. Stock Performance Common Stock Preferred Stock … Samsung is feeling the effects of the downturn in the high-tech market
- 10. Strategy 1997 Turnaround: • Cut a third of workforce, cut debt • Sold and spun off divisions • Set “firewalls” to other Samsung Divisions • New business proposition: profits • Streamlined inventories • Diversification
- 11. Strategy New Economy: • Exodus of engineers and managers to startups • Top 4 conglomerates: $1.2B in startups (Samsung: $520M) – Stakes of up to 29.9% in 80+ startups • Startups benefit from links to global networks and financial expertise “You simply can’t survive without adapting to the fast-changing Internet era, and one solution is linking up with startups”
- 12. Strategy Digital Vision: “A Company that leads the digital convergence revolution” • Brand power, logistics, IP: – High-margin products – Create value chain that integrates competencies of all areas – Customer and market oriented • Global network by function • Performance evaluation and compensation system
- 13. Strategy Digital Vision: • Innovation, meeting challenges and creativity • Target debt-to-equity ratio: 50% • R&D: 7% of total revenues • Overseas partners: – Joint R&D projects – Technology transfer arrangements – Joint investments
- 14. Organization Structure • 4 main groups with 14 divisions Digital Media Semiconductors Information & Communications Home Appliances Samsung Electronics
- 15. Management & Employees • 59,000 employees • Development of employees strategic to success • “Making rounds” encouraged as a key management practice
- 16. Recruiting and Training • Heavy investment • Focus on creating agents of change • Expertise in technology and marketing
- 17. Culture • Entrepreneurial • Profit focused • Decisive • Different from other firms in Korea and within chaebol
- 18. Current Challenges Internal: “You must maintain a sense of crisis to stay competitive” • Profits vs. Growth – Financial discipline • Foster creativity • Executives jumping ship for startups
- 19. Current Challenges External: • Abandon dependence on cheap commodity products • Emphasis on goods developed in-house – Rivals are outsourcing production and design • Guide the company into the global electronics elite
- 20. Current Challenges Corporate Governance: • Cross-shareholding among affiliates – Shifth funds among subsidiaries – Manipulate debt-to-equity ratios • Outside directors appointed by family • Lack of accountability to outside shareholders