Samsung’s Next Big Bet as Asia’s New Model Company: The Economist
A lot of you may have heard about Samsung’s new focus on lifecare. Here we share a few articles that might interest you. This is from our friends at SamsungVillage.com. (For the original post, click here)
Among our postings here on Samsung Village, many have touched upon our five new growth businesses – in which we plan to invest over $20 billion until 2020 – and we have shared with you what we are planning to prepare for the future.
Namely, the new business areas are solar cells, rechargeable batteries for electric vehicles, light-emitting diodes (LEDs), medical devices and biopharmaceuticals – which are all related to either the environment or healthcare. While some of these businesses may appear to be relatively new ventures for Samsung, we are ready to draw on our established technologies and innovative leadership to create synergies with our existing businesses.
In this regard, the latest issue of The Economist published an extensive story on our initiatives to make inroads into these new businesses titled "The next big bet."
The story not only describes the thinking behind our expansion into the five areas but also how we have been able to achieve success in existing businesses and are likely to leverage that for the new ones as well.
The Economist also ran a short piece on Samsung as a whole, dubbing us as "Asia's new model company," in which it points out our strengths, corporate culture and execution of successful strategies.
To read the full articles, you can visit The Economist website for:
Samsung and its attractions – Asia's new model company
Although our foray into the new areas may create fresh challenges for us to overcome, we are hopeful our new business focus on the environment and healthcare would help bring benefits of technological advances to the global community and transform us into an even more sustainable and healthy business.
* If you're interested in finding more about Samsung's management system and its openness in adopting and integrating ideas and values from elsewhere, here's an article in the July/August issue of the Harvard Business Review.
Related Samsung Village stories:
Samsung Breaks Ground for Biopharmaceutical Plant
Samsung Gears Up To Expand Solar Business
The New Heart of Future Transportation: Samsung’s Car Batteries
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