If it's not working, 'Change'
1- In 1938, Lee Byung-Chull launched Samsung in South Korea as a grocery shop.
2- In 1940, due to tight competition in the grocery segment, Samsung abandoned grocery for producing and selling of noddles.
3- In 1950, Samsung abandoned production of noddles for producing of sugar.
4- In 1954, Samsung left sugar and started a woolen mill in Korea.
5- In 1956, Samsung abandoned woolen mill and started selling Insurance and securities.
6- In 1960, Samsung left selling of insurance and securities for production of television - the black and white television. Not color television.
7- In 1980, Samsung switched to telecoms, producing telephone switch boards.
8- In 1987, Lee the founder and owner of Samsung died. The company now broke into four independent companies- department stores, chemicals logistics, paper/telecom and electronics.
9- Same year, Samsung decided to focus on international investing, investing in plants semi conductor facilities around the world.
10- In 1990, Samsung delved into real estate abandoning international investing in semi conductors. Samsung built the worlds tallest buildings: Petronas Towers Malaysia, Taipei 101 in Taiwan
11- In 1993, there was heavy recession and Asian markets went belly up, Lee's son who had succeeded him as the CEO of Samsung began downsizing, selling subsidiaries and merged the rest.
12- With the merging of the electronics, engineering and chemicals division, Samsung became the worlds largest producer of memory chips.
13- In 1995, Samsung switched to liquid-crystal displays and over the next 10 years became the worlds largest manufacturer of flat screen television.
14- In 2010, with liquid crystal displays becoming competitive, Samsung launches a 10 year growth strategy, with smart phones being a key focus.
15- In 2016, Samsung is worlds largest mobile and smart phone maker, outselling iPhone two to one.
Samsung sales today is over $250 billion and produces a fifth of South Korea's total exports.
Don't be afraid of change. If you don't change, you become insignificant.
1- In 1938, Lee Byung-Chull launched Samsung in South Korea as a grocery shop.
2- In 1940, due to tight competition in the grocery segment, Samsung abandoned grocery for producing and selling of noddles.
3- In 1950, Samsung abandoned production of noddles for producing of sugar.
4- In 1954, Samsung left sugar and started a woolen mill in Korea.
5- In 1956, Samsung abandoned woolen mill and started selling Insurance and securities.
6- In 1960, Samsung left selling of insurance and securities for production of television - the black and white television. Not color television.
7- In 1980, Samsung switched to telecoms, producing telephone switch boards.
8- In 1987, Lee the founder and owner of Samsung died. The company now broke into four independent companies- department stores, chemicals logistics, paper/telecom and electronics.
9- Same year, Samsung decided to focus on international investing, investing in plants semi conductor facilities around the world.
10- In 1990, Samsung delved into real estate abandoning international investing in semi conductors. Samsung built the worlds tallest buildings: Petronas Towers Malaysia, Taipei 101 in Taiwan
11- In 1993, there was heavy recession and Asian markets went belly up, Lee's son who had succeeded him as the CEO of Samsung began downsizing, selling subsidiaries and merged the rest.
12- With the merging of the electronics, engineering and chemicals division, Samsung became the worlds largest producer of memory chips.
13- In 1995, Samsung switched to liquid-crystal displays and over the next 10 years became the worlds largest manufacturer of flat screen television.
14- In 2010, with liquid crystal displays becoming competitive, Samsung launches a 10 year growth strategy, with smart phones being a key focus.
15- In 2016, Samsung is worlds largest mobile and smart phone maker, outselling iPhone two to one.
Samsung sales today is over $250 billion and produces a fifth of South Korea's total exports.
Don't be afraid of change. If you don't change, you become insignificant.
Regards
Ankush D Shilimkar
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