Business Environment ? ?8
This essay considers the case of Samsung Electronics, the digital technology leader in the world to explain relationship between external business environment and technological development in the business. It also attempts to explain that later the technological development has an impact on the business environment, with or without the direct impact on the factors that contributed in its development.
This essay finds the incredible digital development technology at Samsung as the consequences of political and economic factors that were influential during 1990s. Later the globalization merged geographies and enabled Samsung to leverage its technological competence in global market. The development later impacted social, political and economic structure in the globalized business environment, where Samsung’s own business practices helped in determining the extent of negative and positive impacts.
During January 2017 Samsung announced the massive accreditation it received in 2017 Consumer Electronics Show by bagging 120 awards (Samsung Newsroom, 2017). As part of the news that was published on Samsung’s official Newsroom site for its online readership, this was latest of the remarkable innovations which have contributed to Samsung’s growth. Seldom criticized for copying the technologies from global rivals and tweaking those to present to the customers, Samsung has however managed to continue its growth spree. Especially in the area of screen technology Samsung leads the consumer electronics industry worldwide (Shaughnessy, 2016). Samsung screens which make its products look sleek, trendy and extremely attractive are backed by the robust battery and chip technologies which the global competitors like Apple and Google have been trying hard to beat (Wang and Wang, 2007). This extremely impressive screen development technology of Samsung is however the outcome of the Russian business environment into which Samsung fortunately got an early entry during 1990s. The former Soviet Union as the part of a pact between Korean company Samsung and Russian Academy of Science offered the business organization commendably cheap access to its scientific resources (Shaughnessy, 2016). Samsung not only used the Russian brain to its own benefit but also made sure that it worked in close co-ordination with the Academy to
keep its rivals comfortably off from ruining this partnership. While this pact has continued to be the backbone of Samsung’s success, there are environmental factors responsible for this event.
This essay discusses the role of business environment in driving technological development by discussing the case of Samsung. Further the essay looks into the impact that the specific technological development has on the business environment.
Business Environment and Technological Development
Business Environment: What makes it powerful? According to Huang (2011) the ‘business environment’ comprises of the forces that tend to have an impact on the business organization directly or indirectly and are beyond the organization’s control. In other words the sum total of external factors that has an influence, positive or negative, on the functioning of business organizations connotates to the business environment for that organization.