Assignment on Product Evaluation of Samsung

Assignment on Product Evaluation of Samsung
01/02/2018 Comments Off on Assignment on Product Evaluation of Samsung Academic Papers on Business Studies,Academic Papers On Economics,Sample Academic Papers admin

Samsung is known to have a competition with Apple. These both rivalries are mostly known for their ways of innovation in design, technology, and features that they provide to its customers. The most well-known case is when Apple filed a lawsuit against Samsung for copying its iPhone’s design for its Samsung Galaxy series. The decision is a notable win for Apple, which has argued Samsung should have to do more than pay monetary damages for infringing upon Apple’s patented technology. Apple had argued that ongoing infringement by Samsung damaged its reputation as an innovator and caused it to lose sales of devices and downstream products.The Apple apparently won the case and received $1.03 billion. However, after that, rather than providing simply “Cheap iPhone”, Samsung diverted itself and started to develop its own features and designs for their phones. They increased their R & D budget to 5.7% of their capital as compared to Apple’s 2.4%.

Developing such a strategy that will eventually lead to the major success of an organization such as ours, it will be a difficult task as it is a known fact that is hard to develop innovative strategies for smaller organizations and then to implement them as well accordingly. The resources are very limited at this point to do a massive expansion of the organization.

Our organization is developing Smartphones for 5 years now and the production of our products is going smoothly without much hassle, but innovation is a process for the growth of every organization that exists today and looks forward to becoming a corporate level organization. There are some major steps required to be taken that are required for initialization of achieving diversification process. Allocation of resources is the most primary need when it comes to diversification. Many organizations fail to understand the importance of resources when they are initiating a project. It is necessary for the organization to maintain utmost resources that might be required to sustain the current operational services of the organization.

Neglecting the current operational services and leaning for diversification can be risky and may develop financial constraints for the organization in the future. Second is to develop plans for the short-term and long-term period. It is necessary to understand the path when attempting for diversification. Public demand and Competition are the third most important factors of diversification. If an organization is attempting for diversification, then it is necessary to look for the public demand for it. It would be a financial catastrophe if the diversification suffers significant losses. Competition is another factor that needs to be taken into consideration. If there is a monopoly of any other contender, it is wise to reevaluate the diversification plan. Competition can also become a reason for the fail diversification because of people’s trust in the product and their loyalty towards it.

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