In: Operations Management
Organisation like your company needs to track trends and developments which occur on the market, in order to survive in a rapidly changing environment. These trends can be translated into opportunities and threats, which the company has to face in the future, supported by its organisational strengths and blocked by its weaknesses.
Select any five from the following contemporary strategic management issues and discuss its relevance and importance to the corporate strategic management process according to samsung company:
- Effective use of energy with moves towards electrification.
-Sustainable use of natural resources.
-Protection of the biosphere and the development of carbon neutral organizations.
-Country self-sufficiency.
-Greater energy and resource efficiency.
-Reduction and disposal of waste.
- Change of attitudes and lifestyle.
-Sustainable use of natural resources.
The contemporary issues like energy efficiency, sustainable usages of natural resources, minimization of waste produced in manufacturing, Change in attitude and lifestyle of the customers, being a carbon-neutral organization are not only for the social cause of part of social responsibility rather these attributes in an organization has become imperative to remain sustainable and competitive in the segment they serve. Let us understand the relevance of these attributes for the Samsung Company:
1.- Effective use of energy with moves towards electrification.
Effective use of energy and being energy efficient will help in reducing the cost and improving efficiency of the production. Reduction in cost will help in gaining a competitive advantage.
2.-Sustainable use of natural resources.
Natural resources have to be used judiciously and having a sustainable approach of using natural resources will help in improving the brand image in terms of eco-friendly organization and socially responsible. Such goodwill in society can be leveraged for better business.
3.Greater energy and resource efficiency
Energy and resource efficiency is no more a improvement parameter rather it has become the sustainable parameter. No organization can afford being resource inefficient consider the level of competitive environment where they operate.
4. Reduction and disposal of waste.
Many organization has been in trouble because of creating the excessive waste and such allegation and incidents are proven to be a great damage to the brand image and losses in compensation as well as market share. Therefore managing the waste reduction as strategic objective becomes absolutely necessary.
5. Change of attitudes and lifestyle.
For Samsung, many products' future depends on the customer's lifestyle requirement and their attitude. Therefore for Samsung keeping this as strategic objective becomes mandatory and they must have the strategic direction to move as per the customer's lifestyle and attitude journey.