This is Samsung Electronics Co., Ltd. mission statement overview in 2013. For more information on how to write a mission statement, please refer to our article.
|Name||Samsung Electronics Co., Ltd.|
|Industries served||Consumer electronics, Telecommunications Equipment, Semiconductors, Home Appliances|
|Geographic areas served||Worldwide|
|Current CEO||Kwon Oh Hyun|
|Revenue||₩ 201.103 trillion (2012)|
|Profit||₩ 23.845 trillion (2012)|
|Main Competitors||Apple Inc., Nokia OYJ, Intel Corporation, LG Display and LG Electronics, Sony Corporation, Texas Instruments Inc., Lenovo Group Limited, Hewlett-Packard Company, Sanyo Electric Co., Ltd., Toshiba Corporation, SK Hynix Inc., Western Digital Corporation and many other companies.|
Samsung Electronics Co., Ltd. is the largest world’s technology company in terms of revenues. It is the largest mobile phone maker and television manufacturer and second largest semiconductor chip producer.
Samsung mission statement 2013
Samsung doesn’t have an official mission but express it through company’s philosophy:“At Samsung, we follow a simple business philosophy: to devote our talent and technology to creating superior products and services that contribute to a better global society.”
|Does it include…?|
|Technology||Concern for survival||Philosophy|
|Self-concept||Concern for public image||Employees|
|Does it mention values like…?||Customer or product-oriented?|
(This evaluation framework is composed of the guidelines listed in our article: Mission Statement for Success)
Samsung’s statement is clearly too short and doesn’t provide enough information about what the company does or why it does it. The statement was evaluated 1.6 points because it only includes three essential components out of nine and has a customer-oriented philosophy. Customer-oriented statement defines organization’s purpose in terms of meeting customer needs rather than focusing on what products to produce and services to serve. Samsung also doesn’t mention in their philosophy any of the values we use in our evaluation but the company provides them separately:
These values show what guides Samsung’s actions and decisions. The company mentions excellence, integrity and co-prosperity (or citizenship) as their values, which should have been included in their mission as well. In overall, Samsung’s philosophy does a poor job in revealing its core purpose to company’s stakeholders.
- Samsung (2013). Corporate Profile. Values & Philosophy. Available at: http://www.samsung.com/uk/aboutsamsung/corporateprofile/valuesphilosophy.html