Korea based Samsung is one of the largest multinational group with revenues second to only Apple. The company started in 1983 and has since then grown exponentially, its expansion in part is credited to its brilliantly laid out mission and vision statements. Both of which focus on developing superior products but for the benefit of the global community.
Samsung’s focus has primarily been on products that affect communities as a whole and the individual customer within those communities. It’s mission statement broadly outlines the strategies it undertakes to ensure growth and the eventual yet gradual steps towards its mission’s goals.
The mission and vision statement, alongside its core values, have allowed the company’s leadership to use its market savvy vision to operate in often difficult markets if not completely take them over.
In this article, we’ll disassemble Samsung’s mission and vision statement to analyze just how it has helped the company grow from its humble beginnings nearly forty years ago.
Samsung Mission Statement and Analysis
Samsung’s mission statement is: “We will devote our human resources and technology to create superior products and services, thereby contributing to a better global society.”
- “We will devote our human resources and technology” is Samsung’s way of saying that they will create superior products by devoting the best brains in the business towards doing it. It also alludes to Samsung developing technology which will, in turn, be used to create superior products that lead us to the second part of the statement below.
- “…to create superior products and services.” Samsung’s mission is to rule the technology world, and that can only be achieved by beating the rest. They are aiming not just to beat them by developing superior products but offering superior services too. That for a partnering business or the end-user is a win-win situation.
- “Contributing to a better global society.” It is evident from this part of the mission statement that the company is well invested in creating technology that brings positive change to the world. Case in point is Samsung’s efforts to be more than just an environmentally conscious business by introducing several programs that support e-waste recycling and handling.
Samsung Vision Statement
Samsung’s vision statement reads: “To inspire the world with our innovative technologies, products, and design that enrich people’s lives and contribute to social prosperity by creating a new future.”
The term “inspire the world” means that the company’s vision isn’t limited to just creating products but inspire the world, and it is doing that by being aware of global communal diversity. Awareness allows Samsung to tailor its products to meet the needs of each community.
Samsung, in its vision statement also sets the bar for innovation and design. Its smartphones, laptops and tablet PCs, use trend-setting design language which inspires not just users but the competition. So, in essence, they churn the wheel of innovation with the introduction of each new product.
Samsung’s Core Values
Samsung's core values are: “people, excellence, change, integrity, and co-prosperity.”
Samsung’s core values evidently showcase the company’s rich and diverse global culture. At its core, the company hopes to change and help integrate everyone who is either part of the company or the global community to ensure prosperity across the board.
Honour is one of the most essential values ingrained in the company’s culture which takes precedence over everything else. That is further solidified by co-prosperity which makes sure that everyone gets a piece out of the company’s success because everyone works towards its success.