New Management:
Samsung is quite popular due to the product and services it offers. It is known for its smartphones and this South Korean company sells more smartphones than any other company besides its rival, Apple. In this article, it talks about how Samsung is currently suffering from a lack of strong leadership. The crown prince of the family controlling the company has been sentenced to five years in prison for bribing millions of dollars to win favor with Park Geun-hye for a corporate deal. The current patriarch has been in a coma since 2014 and an extremely successful senior executive abruptly resigned three weeks ago. However, with these problems in the higher seats in the corporation, Samsung has broke record-high profits for a second quarter in a row. With profits still high and maintaining its innovative status, Samsung has newly appointed executives from their professional managers who will run the company until the family issues are resolved.
Thoughts:
With the arrest of Samsung’s current heir due to the a bribing scandal, the case of the patriarch being in a coma, and having one of their top senior executives resign has caused problems in the management. The current situation is being held properly by the newly appointed executives to take care of the company while the patriarch and heir circumstances are being resolved. I think that as long profits are high, its innovative status is kept, no further scandals being committed, and with the new team of executives, Samsung will be able to pull through and remain as one of the top tech companies in the world. Samsung originated from South Korea and has really brought its name to the global market and it seems it will continue that way as long as there is stability in the management, sales, and public relations.
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