Introduction

The assignment helps in understanding innovation management theory and practices. The purpose of the assignment is to highlight information about the innovation history and present innovation capabilities and activities of the preferred choice of organisation. It also highlights the latest innovative trends taking place in the industry in which the preferred choice of the organisation operates. The assignment will serve as a guide to an innovative audit, which will factor in wider macro and competitive environmental elements as well as upstream and downstream in the supply chain of the participant. The organisation which has been chosen and will help in the successful completion of the assignment is Samsung. Samsung is a mobile company that operates in the industry of telecommunication.

Innovation in business refers to the process of creating and implementing new ideas, products, services, processes, or methods that add value to the organization, its customers, and the market as a whole (Kalkan et al., 2014). It involves the application of new or improved technologies, processes, or business models to meet the changing needs and demands of customers and stay ahead of competitors. Innovation is important for businesses to grow and succeed in a constantly changing marketplace. It can lead to increased efficiency, productivity, profitability, and competitive advantage (Rajapathirana and Hui, 2018). By developing new products, services or processes, companies can expand their customer base, enter new markets, and generate new revenue streams. Innovation can take many forms, from incremental improvements to existing products or processes to breakthrough technologies and disruptive business models that completely transform industries. It can also involve collaboration with partners, suppliers, and customers to create new solutions and address emerging market needs.

Company Description

Samsung is a multinational technology company headquartered in Seoul, South Korea. The company was founded in 1938 as a trading company and has since expanded into various business segments, including electronics, appliances, semiconductors, telecommunications, and more. Samsung Electronics is the flagship subsidiary of the Samsung Group and is the largest producer of smartphones, televisions, and memory chips in the world. The product line of the company consists of smartphones, tablets, laptops, TVs, home appliances, smartwatches and more. Samsung has a strong focus on research and development, investing heavily in new technologies and product innovations. The company has more than 200,000 employees working in 73 countries around the world, with significant research and development centres in Korea, the United States, and other countries (samsung.com, 2023a).

In addition to its electronics and appliances business, Samsung has other subsidiaries and business ventures, including Samsung Life Insurance, Samsung Heavy Industries, and Samsung Engineering (Jia, 2022). The company is also involved in various social and environmental initiatives, including a commitment to sustainable development and responsible business practices. Samsung is one of the most recognized and respected brands in the world, and its products are used by millions of people around the globe. The commitment of the organisation is innovation and quality has helped it maintain its position as a leader in the technology industry, and its continued investment in new technologies and product development ensures that it will remain a dominant force in the industry for years to come. The company operates its activities in many industries like electronics, semiconductors, information technology, Artificial intelligence, Automation, Home appliances, Medical devices and Robotics (Liu et al., 2022). But in the recent generation, Samsung was able to have a lot of success in the business of electronics. This has brought a lot of recognition for the company and led to its position as the global industry leader in technology. Due to its recognition in the global market, the company was ranked eighth in the top 10 global brands in the year 2020.

Innovation history of Samsung

Samsung is believed to be one of the most innovative and influential technology companies in the world. The innovation history of Samsung is a testament to its commitment to pushing the boundaries of what is possible, and its journey towards becoming one of the most successful and recognizable brands in the world. Founded in 1938 as a small trading company, Samsung has since grown into a global conglomerate with a presence in multiple industries, including electronics, semiconductors, telecommunications, and more. By the year 1970, Samsung began production of black and white television. Also, the company was able to start the production of washing machines and refrigerators by the year 1974. In the year 1979 the company began mass production of microwave ovens and acquired Korea Electronics Information Co. During the late 1970s and early 1980s, the company was able to diversify its technology businesses and expand into the global market. In the year 1980, the company was able to start its production of air conditioners. Also in the year 1983, the company began the production of personal computers (PCs). In the year 1986, the company was able to produce the smallest and lightest 4mm video tape recorder in the world (samsung.com, 2023a).

Samsung was able to able to develop a mobile phone handset in the year 1991. During the year 1992, the company was able to produce over 10 million industrial robots and the first 64M DRAMs in the world. Samsung was able to expand its operations in many different regions and grew at an exceptional rate. The company was able to achieve another great feat after it was able to develop the first 33” double-screen television in the world in the year 1995. Also in the same year, SAIT (Samsung Advance Institute of Technology) was able to develop the first real-time MPEG-3 technology in the world. The organisation did not stop with their innovations and developments, it kept on introducing new products in the market, which brought a lot of recognition to the company. This made the company a very well-reputed and trusted brand in the market; slowly the company was able to overcome its rival and became the customer preference. In the year 1997, the company was able to became the Worldwide Olympic Partner (TOP) in the category of wireless communication. As well as the same year, the company developed the first complete 30” TFT-LCD in the world. There was no stopping the company during the year 1999, the company launched the first MP3 mobile phone and the first 3D TFT-LCD monitor in the world (samsung.com, 2023a).

Existing innovation performance and capabilities of Samsung

Samsung is one of the largest and most successful technology companies in the world, with a wide range of products and services that include smartphones, televisions, appliances, semiconductors, and more (Wu wt al., 2022). The innovation performance and capabilities of the company are highly regarded in the industry and are key drivers of its success. Samsung has consistently pushed the envelope in terms of technological advancements, from developing the first 40-inch OLED TV in the world in the year 2004 to pioneering the curved smartphone display in the year 2014. The innovation of the company is a long and impressive one, with milestones including the development of the first mobile phone with a built-in MP3 player, the creation of the first Blu-ray player in the world, and the launch of the Galaxy series of smartphones, which have become some of the best-selling devices in history.

In terms of innovation performance, Samsung has a strong track record of developing new and innovative products and technologies. The company has a large research and development (R&D) department, with over 100,000 employees worldwide, and invests heavily in R&D each year. In the year 2020, Samsung spent approximately 15.6 billion dollars on R&D, which represents about 8 per cent of its total revenue. Samsung has also been successful in bringing new products to market quickly (samsung.com, 2023b). For example, the company was one of the first to launch a commercially viable smartphone and has continued to lead the industry in this area. The Galaxy line of smartphones of Samsung is highly popular, and the company continues to release new models each year with advanced features and capabilities. Samsung has also made significant advancements in the field of semiconductors. The company is a leader in the development of memory chips and is one of the largest producers of these chips in the world. Samsung has also developed advanced processors for use in its own products, as well as for other companies.

In addition to its strong innovation performance, Samsung has developed a number of capabilities that enable it to bring new products and technologies to market quickly and efficiently. For example, the company has a highly efficient supply chain and manufacturing system, which allows it to produce large volumes of products at a low cost. Samsung also has strong marketing and distribution capabilities, which enable it to effectively promote and sell its products to consumers around the world. The innovation performance and capabilities of Samsung are highly regarded in the industry and have been key factors in the success of the company. With its strong R&D department, efficient manufacturing system, and marketing and distribution capabilities, Samsung is well-positioned to continue developing and launching new and innovative products in the future.

Innovative Trends in the Telecommunication Industry

The telecommunications industry has been rapidly evolving in recent years, with advancements in technology and increasing demand for faster, more reliable connectivity (Kalem et al., 2021). Innovative trends are shaping the telecommunications industry and enabling new applications and services that were previously impossible. As technology continues to advance, we can expect to see even more innovations in the telecommunications industry in the years to come. The sector of telecommunication not only went through innovation it faced a lot of issues and challenges in the form of infrastructure optimisation and network load. All these innovations and developments helped the telecom organisation to improve its efficiency. Some of this innovation and development are as follows:

Internet of Things (IoT): The Internet of Things is a network of physical devices, vehicles, home appliances, and other items embedded with sensors, software, and network connectivity. IoT technology enables these devices to connect and exchange data with each other, providing greater efficiency and convenience (Li et al., 2015). Telecommunications companies are leveraging IoT technology to offer solutions such as smart homes, smart cities, and industrial IoT.
5G Networks: The fifth-generation wireless network technology, or 5G, is a major innovation in the telecommunications industry. 5G offers faster internet speeds, greater capacity, and lower latency compared to 4G networks. With 5G, users can enjoy near-instant download and upload speeds, making it ideal for applications such as virtual and augmented reality, autonomous vehicles, and smart cities.
Cloud Computing: Cloud computing is a technology that enables users to store and access data over the internet. Telecommunications companies are leveraging cloud computing to offer services such as cloud storage, cloud computing, and cloud-based security solutions.
Artificial Intelligence (AI): AI technology is being used in the telecommunications industry to improve network efficiency and customer experience (Mahmoud and Ismail, 2020). For instance, AI-powered chatbots can provide customer support whenever required, while machine learning algorithms can analyze network data to identify potential issues and optimize performance.

Conclusion

From the above one can have general information about the innovation and development of Samsung. The report consists of all the relevant information which can help an individual to understand all the development and innovation which the company did in the past and in the present. From the information, an individual will have an understanding of the importance of innovation and development in an organisation. Even in the case of Samsung, it is the same, the company went through a lot of innovation and development. From the information, it can be understood that the main reason for companies to go through innovation is solely to be exceptional in the market. By being exceptional and unique, companies will be able to increase their sales performance and improve their image in the market.

References

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