LG Electronics Inc.: SWOT Analysis and the Stakeholders (Essay Sample)

Impact of Government Action on a Business
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Business Profile
LG Electronics Inc. Company is a South Korean-based multinational electronics company. The company was founded in 1958. LG Electronics Inc. Company's headquarter is in Yeouido-dong, Seoul, South Korea. The company offers electronics products and services worldwide and has global markets and customers. The company is currently ranked the second-largest electronics company globally after Samsung Inc. Company. LG Electronics Inc. Company has led South Korea's electronics industry since its inception in 1958. The company produces various electronics such as TVs, radios, and other electronic appliances. The electronics company has over 74,000 employees and currently holds multiple subsidiary companies. The company sources its employees worldwide and thus has the benefit of enjoying expertise services from top-notch talents across the world (Lockamy, 2018). The company has numerous affiliate companies that produce different products—for example, LG Innotek and LG Display, which manufacture electronics and liquid crystal display panels.
The company's mission is to create an all-inclusive work culture and environment that empowers its workforce, characterized by respect and dignity. Moreover, the company's vision is to be recognized as a firm where employees feel valued, respected, and treated with dignity and customers appreciate the company's friendly flyer services. The company's purpose is also to unite the world by connecting people. The company's market share has been upward for an extended period.
The company's major competitors are Samsung Inc. Company, Apple Company, Dell Company, Philips Company, Electrolux and Panasonic, and Sony, among others. The rival companies are LG Electronics Inc. Company’s direct competitors since they offer services similar to the services it provides (Wu, Choi & Park, 2020). The company is facing various threats as it maximizes its strength.
SWOT Analysis of LG Electronics Company
 

SWOT Analysis

 

 

 

 

 

Environment

 

 

 

Strength

 

Opportunity

 

LG Electronics Inc.


* One of the largest electronics companies
* Strong and established brand name
* Wide range of products
* Customer loyalty
* Top-notch employees
* Offers after-sales service

 

* Enhance the already robust portfolio of products
* Transform the company’s improved awareness and brand into sales
* Can effectively complete for potential customers
* Tap the growing market for electronic goods and home appliances