Samsung, business and finance assignment help

/in /by

Samsung, business and finance assignment help

Need 150 words reply for each reply

Reply 1 RS

Samsung a leader in the electronic industry has discontinued replacement in the United States of their Galaxy Note 7 phone. On top of this problem Samsung faces a class action lawsuit over Alleged Exploding Washing Machines (Samsung Facing Defective Products Class Action Over Alleged Exploding Washing Machines, 2016). The devastating blow to Samsung’s name and products will have a massive trickledown effect on businesses that sell their products. Having one disaster in a line of quality products can be devastating to smaller companies but Samsung being a large manufacturer should survive.

The long term agreement that the company has with Samsung can and will result in legal action; which is a good reason as a business to hire a competent lawyer. Excellent legal talent can be retained for relatively little money up front at the early stages and it will cost much less to get it right at the beginning than to try to sort it all out later and correct it (Mason, 2016). Dealing with inbound logistics is a primary activity for a company and its reputation. Your supplier relationships are a key factor in creating value (Porter, 1985). Using the value chain concept will allow the company to isolate the underlying source of buyer value that will enable a firm to explain the reason why one product or service substitutes for another.

The company’s procurement department must continue to re-evaluate their suppliers big or small to determine if the relationship should continue. Samsung unintentionally hurt my company’s bottom line. As a manager I would want some re-assurances from Samsung that they solved the root causes of their product failure and that they will be incorporating new testing guidelines; which look at these finding and that go beyond their normal safety testing. Receiving these assurances from Samsung, I would let them and my competitors know that our company stands together. I will work with advertising and use these assurances to help with customer relations. As a company we will make the customer happy by introducing a buy back policy or allowing our customers to trade in their Galaxy Note 7 phone for credit on other merchandise we sell. We will stay on top of Samsung to get updates to make sure things do not take a turn for the worse. The procurement department will also be looking into different alternatives to replace Samsung should things not turnaround.

Works Cited

Mason, M. K. (2016). What causes small busineses to Fail? Retrieved from Moyak: http://www.moyak.com/papers/small-business-failure…

Porter, M. (1985). Principles of Competitive Advantage. In M. Porter, Competitive Advantage Creating and Sustaining Superior Performance. New York: Free Press.

Samsung Facing Defective Products Class Action Over Alleged Exploding Washing Machines. (2016, September 5). Retrieved from Big Class Action: https://www.bigclassaction.com/lawsuit/samsung-def…

Reply 2 BL

If my company has a long term agreement with Samsung for the phones and if these crises arise with the explosions or any other issues that arise then I will decide to cancel the agreement and possibly move my agreement with another supplier. This will be done without consequences since the agreement would have obviously stated that Samsung would deliver a product that is satisfying and not damaging or harmful. Having more than one supplier for your company will stop delay in supplies to the company as well as allowing the company to deliver at the same standard even when the crises for Samsung arise.

The only way I will try to avoid predatory behavior from competitors is if I decided to continue to receive products from Samsung supplier. I will avoid this behavior by giving knowledge of what should be done to fix the problem as well as stated to the product owners how the Samsung company plan to make their life easier (reducing bills, getting better phones/updates to the customers, rebates for inconvenience) after the phone problem has been fixed.

LA-2

Key KPIs related to procurement and supply chain in Hotel & Hospitality are:

  • Wage Cost
  • Total Labor Cost
  • Total Labor Hours
  • Food Cost percentage
  • Total food cost
  • Best and Wort selling items
  • Stock Value
  • Total Sales per head
  • Number of Customers
  • Gross profit on sales
  • Cash portion at bank
  • Total accounts due
  • Total accounts payable
  • Return of Investment
  • Taxes owed
  • Administrative Labor cost
  • Computer and technology efficiency (Profitable Hospitality)

Bibliography

Profitable Hospitality. (n.d.). Key Performance Indicators for Restaurants, Cafes, Catering, Clubs & Hotels. Retrieved 10 19, 2016, from Profitable Hospitality.com: http://www.profitablehospitality.com/public/88