Samsung of South Korea employs several strategies to tackle fundamentally wicked yet complex problems:
1. Innovation and R&D Investment
Samsung heavily invests in research and development (R&D) to drive innovation. This commitment to R&D allows Samsung to develop cutting-edge technologies and solutions to complex problems.
2. Diversification and Vertical Integration
Samsung's diversified business portfolio and vertical integration enable it to leverage expertise across different sectors. This approach helps Samsung address complex challenges by utilizing resources and knowledge from various industries.
3. Global Strategy and Market Adaptation
Samsung adopts a global strategy that includes entering and adapting to emerging markets. By understanding and addressing the unique challenges of different markets, Samsung can develop tailored solutions to complex problems.
4. Crisis Management and Resilience
Samsung has demonstrated strong crisis management capabilities, as seen in its response to the Galaxy Note 7 battery issues. The company's ability to quickly address and resolve crises showcases its resilience and problem-solving skills.
5. Collaboration and Partnerships
Samsung collaborates with other companies, research institutions, and universities to tackle complex problems. These partnerships allow Samsung to access diverse perspectives and expertise, leading to innovative solutions.
6. Focus on Quality and Customer Needs
Samsung prioritizes quality and customer satisfaction in its products and services. By understanding and meeting customer needs, Samsung can develop effective solutions to complex problems.
7. Agile and Flexible Operations
Samsung maintains agile and flexible operations to quickly respond to market changes and technological advancements. This agility helps Samsung address complex problems efficiently and effectively.
By integrating these strategies, Samsung of South Korea effectively tackles wicked yet complex problems, ensuring its continued success and leadership in the global market.
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