Strategic Management of Apple Inc. and Samsung Group Assignment

Strategic Management of Apple Inc. and Samsung Group - Assignment Example Strategic management, as used in most businesses simply refers to the process of identifying and describing the strategies that managers use in achieving better performance and competitive advantages for their business organizations (Jeyarathnam, 2008). A business can be described as having competitive advantages when its profitability at the end of the trading period is higher when compared to average profitability for other businesses in the same industry (Markides, 2008). Strategic management can be described as a set of acts and decisions that managers undertake that results in the firm’s effective performance (Jeyarathnam, 2008). The manager is expected to have a comprehensive analysis and knowledge of the competitive and general business environment in order to arrive at right decisions that enhance the success of the organization. In doing this, managers are supposed to conduct a SWOT analysis of their organizations consistently (David, 2005). From the SWOT analysis, they are able to effectively utilize their strengths for better performance and success, minimize their weaknesses, and exploit the opportunities identified in the business environment (Jeffs, 2008). Additionally, the SWOT analysis helps them to identify their threats, thus establishing better strategies and approaches they can use to remain competitive. From this process, it can be deduced that strategic management, as applied in business organizations, involves much planning about many predictable and unfeasible contingencies (Markides, 2008). The process applies to small, medium and large organizations because even small organizations often face competition just like other businesses (Jeyarathnam, 2008). This paper examines the concept of strategic management as it applies at Apple Inc., and Samsung, which are among the world’s largest renowned companies in the manufacture and sale of consumer electronics. Apple has been a successful company since it's in 1976.