Home Free Lab Reports-This organisation was founded in 1938

-This organisation was founded in 1938

-This organisation was founded in 1938, in South Korea by Lee Byung-Chull. -2017 revenue: 65.98 trillion -2017 operating profit: 15.15 trillion -489,000 employees -Revenue is equal to 17% of South Korea’s GDP, which amounts to $1,082 billion -Samsung has a global network of over 80 companies. -Their shareholders consist of 52% foreign investors. Samsung was founded in 1938 in South Korea by Lee Byung-Chull. The organisation has developed from an unobtrusive exchanging organisation to a global combination with a yearly turnover in 1997 of about $100 billion. Samsung operates in three noteworthy markets: electronics, engineering and chemicals, as well as having employees in more than 60 nations (Burris, M. 2018). The corporate logic is focussed on using innovation in order to aid the development and improvement of a globalised society through improved products. Samsung seeks three procedures to accomplish its target of keeping up worldwide intensity (LLP, B.2018). It’s important that a company develops a diverse workforce within its organisational structure in order to further enable the global success of a business. This presentation examines how Hofstede’s cultural dimensions theory applies to South Korea, as well as discussing the leadership styles that has been adopted by Samsung, the impact this has on employee motivation and whether this leadership style would work in the UK.Leadership style impacts on employees: Samsungs current leadership style is democratic, this leadership styles main characteristics are: -Communication is kept open – this means that employees ideas are accepted and wanted within the business and everyone needs to feel comfortable enough to put ideas forward. -Explain, but don’t apology – this means that the employer should explain the reasoning behind their choice of idea but not to apologise for their decision. -Creativity – this is encouraged by the employer and rewarded through bonuses by doing this it motivates employees to bring more ideas forward and have a more participative role in the company. Organisational cultural impact on employees: Beans says ”Flexible benefits has evolved so much and continues to… we are now looking more closely at healthcare and wellbeing… we want to show employees that we care about them in more ways than one.” Samsungs primary organisational objectives are: -Employee engagement: this means that they want employees do be involved and want to work. -Employee retention: aims to recruit employees who are qualified and want to remain in their company, as Samsung operates in a very competitive market. This benefit employees because Samsung try to keep them motivated through the use of benefits. -Diverse workforce -Employee healthcare and wellbeing -Flexible benefits – healthcare benefits, bonuses, promotions. Management style impact on employees: The democratic management approach that Samsung has impacts their employees in these ways: 1.Cooperation: Samsungs leaders motivate and inspire employees to cooperate better amongst each other by encouraging employees to share their ideas for business ideas. 2.Creativity: The supportive managers and creative employees are most important for developing innovation through setting SMART goals. SMART goals are individual or group targets that are made to be specific, measurable, aggressive, realistic and time – bound. -Specific: This means that the targets are tailored to a particular area of Samsung. As a result performance ability tends to be higher (Tubbs, M. E. (1986). -Measurable : This means that the goal needs to be able to measure the progress of their employees. By giving employees measurable targets means that they are able to see where they are at, which in turn will keep them motivated and on track. -Aggressive : This is also known as stretch goals, this means that the goals are to provide a challenge to the employee and not be easy, in turn stretching their ability. -Realistic : This means that the target needs to be challenging but actually achievable. By doing this, it will push the employees to reach these targets. -Time-bound : This means that the target needs to be achieved within a certain time, for example 2 months. By doing this, Samsungs employees will have to push to reach these targets and remain motivated.The current leadership style of Samsung is mostly influenced by democratic and contingency leadership style. This style encourages active participation from employees, which therefore helps in creating an innovative and creative work culture, and in turn gives Samsung a competitive edge (Giltinane, 2013). The UK market is a wide, diverse and complicated market, due to this the existing democratic nature of Samsung may not work in the UK, but the contingency leadership would be more applicable to this type of market. The monument style of the organisation is an amalgamation of both capitalist and communist perception. Meaning the collective efforts of the employees are emphasised, as well as individual performance. Several measures are undertaken in order to ensure individual performance is in line with the organisation. In the UK, individual efforts are mostly prioritised over group efforts, indicating that if the organisation was willing to modify their management styles slightly, then the outcomes would be more effective. These slight modifications would be that the employees would need to be judged according to their performance level and their ability to meet set targets. Overall, the contingency leadership style would work in the UK, however the democratic style would not. Due to the complicated and wide nature of the market. Similarly, the collective work should be less prioritised as the nation is capitalist and believes in the importance of individual performances..Leadership style: Samsungs adopted leadership style if Democratic. A democratic leader is a type of leadership in which members of the group take a more participative role in the decision making process. Although, there are times when leaders need to make decisions and lead their company by issuing instructions as an autocratic leader would. Samsung encourages creativity and active participation of employees, as well as awarding bonuses to employees who excel or bring new ideas to the table. Samsung does this in a way of motivating its employees to perform better and increase job satisfaction. Management approach: One of the most important aspects to Samsung is setting goals and targets for their employees, which has resulted in Samsung adopting an open management approach.This includes respecting the autonomy and creativity of their employees, enhancing their efficiency and competitiveness, while promoting equal communication in the management. The key to Samsungs open Human Resource management is putting the skills of employees first, emphasising that opportunities should be available to all employees, without discrimination and restrictions. Compensation and promotion should be based on skills, and pay should be based on their performance, and performance should be the basis of one’s promotion. Samsung uses incentives to motivate their employees on all levels, to reinforce this positive behaviour and their above average performance. Corporate Culture: Samsungs corporate culture focuses on integration and efficiency. Groups are formed to solve specific problems due to this a communication structured will be created. As a result of this, the team will develop a unique culture due to being empowered to take decisions. Team members are encouraged to be creative. In order to reduce costs by reducing trials or errors, and take advantage of the experience and knowledge of employees, Samsung always tries to ensure that they employ only the most qualified employees. This is because Samsung aims to create an organisation for the employees where they can excel within the company and gain personal growth. Samsung is among the leading South Korean firms which stands out for not discriminating on where job applicants were educated or from where they belong. The 4 cultural dimensions of Samsung: 1.Power distance – this defines as how people chose to whether to accept or not of the inequality of power distribution. In Samsung, there is to be higher power distance due to employees taking orders from the employer, this is known as the hierarchical theory. South Korea scores 60, in the middle of the lead table of the power distance data. 2.Uncertainty avoidance – this is defined as the extent of people’s acceptance and preparation of the uncertainty that may potentially happen. In the table of most uncertainty avoiding countries in the world, South Korea is placed 85 TH . This is a result of the creating of multiple institutions, rules and preparation of uncertainty, which allows them to have sustainable development and avoid the instant elimination in the market. 3.Individualism – this is defined as how people are willing to work on their own, take care of themselves or have a high emotional independence. In Samsung the employees are more likely to work with each as a group, like a collectivistic is culture. 4.Gender focus – this is also known as masculine and feminine. Masculine means the social activities that link to the competition, achievement, success and money. Where as, Feminine is defined as the extent of showing care for other people and how work can improve their quality of life. South Korea has a score of 39, meaning that it is more likely to be a feminine country.To summarise our key points, Samsung’s current leadership style and management approach is democratic and contingency based. By employing this strategy this it allows Samsung to obtain a wider variety of ideas from its employees and in turn motivates them to participate further within the business. In regards to Herzberg’s theory of motivation, factors such as personal growth, recognition and responsibility all fall under the category of motivators. By utilising these motivators when working with staff, Samsung is able to improve overall employee satisfaction and increase employee retention. The contingency leadership style would be better suited to the UK market due to the wide and diverse nature of the marketplace. Q1: How does Hofstede’s cultural dimensions apply to South Korea?Q2: What leadership style, management approach and organisational culture are adopted by Samsung, and why?Q4: Do you think the same leadership and management style would work in the UK? Why? Or why not?Q3: How does the adopted leadership, management style and organisational culture impact on employees’ motivation?Business profile:References:Introduction:Conclusion:-LLP, B. (2018). Introduction – Launching high-end technology products – Samsung | Samsung case studies and information | Business Case Studies. online Businesscasestudies.co.uk. – Burris, M. (2018). The History of Samsung (1938-Present). online Lifewire. -Latham, G. P. (2004). The motivational benefits of goal-setting.  Academy of Management Executive ,  18 , 126–129 -Simpson,1993):(Marget,1993): ):”Why don’t use the research “,Management Decision,Vol.31NO.3 -Giltinane, C.L., 2013. Leadership styles and theories.  Nursing Standard ,  27 (41). -(L. Webster  ,2017) https://bizfluent.com/ info-7756143-effects-democratic-leadership-employees.html