Identification on the Types of Decision Making Environment (Essay Sample)

    INSTRUCTIONS

• Do not copy the assignment question and instructions to your answer.
• Prepare your assignment answer following the layout of the ASSESSMENT CRITERIA shown in the RUBRICS provided for the course. Where RUBRICS are not provided, follow the instructions/guidelines specified by the Faculty for the assignment concerned.
• Your assignment should be between 2500 to 3000 words EXCLUDING references.
• Type your answer using 12 point Times New Roman font and 1.5 line spacing.
• Show the number of words at the end of your assignment.
• Tables and figures where provided, should be appropriately titled.  
• List your references separately in the APPENDIX page.

  SAMSUNG  

1. 1.      Introduction

  On March 1, 1938, Samsung was founded by founding Chairman Lee Byung-Chull as a trading company in Taegu, Korea, with only 30,000 won. Samsung started as a small export business in Taegu and had grown to become one of the world’s top electronic companies. Samsung actually means “three stars”, which represents something “huge, numerous and powerful”, and is considered as the most profitable company in South Korea, as well as the largest South Korean chaebol. Samsung is also the largest smartphone maker in the world with the revenue of US$ 305 million as of 2014 (About Samsung, 2008).   Over the next thirty years from 1938, Samsung entered into areas of food processing, insurance, retail, securities and textiles, and finally into the electronics industry in the late 1960s as well as the shipbuilding and construction business in the mid-1970s. 800 million mobile phones have been produced by Samsung with telephone, fax and mobile phone manufacturing system being grouped altogether under Samsung Electronics in the 1980s. After the Chairman’s death in 1987 and since 1990s, Samsung has globalized its activities, specializing in media and digital appliances, memory, conductors and system integration.   With its business focusing primarily on trade export, in less than 10 years, Samsung would have its own confectionary machines and flour mills, as well as its own sales and manufacturing operations, and finally evolve to become the modern global corporation that produce approximately a fifth of South Korea’s total exports and its revenue amounted to 17% of South Korea’s GDP.   In 1990s, Samsung started to rise as an international corporation and in 1993, ten of Samsung Group’s subsidiaries were sold off by Lee Kun-hee (the current Chairman of Samsung Electronics), the company was then downsized and other operations were merged to concentrate on three main industries, which were engineering, chemicals and electronics. In 1992, Samsung became the world’s largest producer of memory chips and placed second after Intel in being the world’s largest chipmaker. In 1995, Samsung created its first liquid-crystal display (LCD) screen and grew to be the world’s largest manufacturer of LCD panels a decade later. Samsung survived the 1997 Asian financial crisis but Samsung Motor was sold to Renault in the process. In addition, Samsung manufactured aircrafts and gas turbines from the 1980s to 1990s. Samsung then opened a computer programming laboratory in Poland in the year 2000, and entered into the biopharmaceuticals industry in 2010.   By 2012, Samsung Electronics had become the world’s largest mobile phone maker by overtaking Nokia and Galaxy S4 was unveiled in 14 March 2013. Gear VR, a VR device, which was in collaboration with Oculus VR was announced by Samsung on September 3, 2014 to facilitate Galaxy Note 4.   As of January 2016, Samsung released a fitness smart watch called the Gear Fit 2 and a brand of wireless ear buds called Gear Icon X, as well as working with Microsoft to develop IoT devices that will run on the platform, based on Windows 10.  

1. Identification on the Types of Decision Making Environment

  2.1             Certainty When making decisions in certain conditions, it means that the decision maker has all the complete and necessary information for him/her to make the decision. However, it was proven to be difficult to find complete certainty in most of the business decisions as it can only be noticed when making routine-type of decisions. Hence, these decisions usually are of very little significance to the overall operations of the business (Essays, 2013).   In certain conditions, with all the information available, decision making can be ascertained as the decision maker is able to predict the result of the decision made with certainty. The decisions/choices/alternatives that give the best results will then be chosen and executed, as well as being reviewed to evaluate the effectiveness of the decision.   For instance, Samsung has been operating for many years, and the printers that they use are very outdated and faulty from time to time. The board of director of Samsung then decided to buy new printers and replace all the existing ones. After reviewing wide selections of brands, the final two alternatives of brands are Canon and Xerox according to brand popularity in the market. With all the information available from the websites that promote these brands of printers, predictions can be easily made and this is a decision made under certain conditions.   2.2             Uncertainty When making decisions in uncertain conditions, it means that the decision maker is completely in dark or clueless regarding the event that is likely to take place as more than one type of event can take place. This is similar to lack of information that can help us to decide as the ...