Project innovation management--Samsung Essay Example | Topics and Well Written Essays - 750 words

Project innovation management--Samsung - Essay Example The innovative strategy of this company has come to rely on external scientific expertise as a means of ensuring that only the latest and the most viable ideas are taken into consideration and developed into products. In this way, Samsung has been able to pursue a strategy that is consistent with its innovative goals. Samsung has over the years come to develop an environment which is extremely receptive of the market forces. This environment has been developed in such a way that the company always remains conscious of the swift changes that are taking place in the business environment and instituting changes accordingly (Michell, 2010). The ability to foster change in such a large company has become enshrined in the company’s culture through it motto â€Å"Work Hard, Think Hard and Build Trust.† The result of Samsung’s putting into consideration the need for constant change has been that it has had to develop an environment where its employees are receptive to change. The Work Smart part of its motto seems to foster this new type of receptiveness because it suggests to employees that they have to ensure that they are conscious of the business environment and should be ready to make changes accordingly in order to cater for market demand. It further suggests that employees need to constantly be ready for any possible changes that might be implemented in order to increase efficiency. The Think Hard aspect of Samsung’s motto suggests that innovation has become a part of its corporate culture and it is this that has ensured the company’s success in recent years as a leader in the electronics market (Kim, 2011). Not only is innovation among its employees encouraged, but it has also become the basis upon which Samsung has been able to compete with its major rivals in the market, especially Apple. Think Hard suggests that the company has come to put