Introduction Samsung Electronics Co is aSouth Korean multinational electronics company headquartered in Suwon, SouthKorea. Through extremely complicated ownership structures, it is the flagshipcompany of Samsung group, accounting for 70% of the group’s revenue and is theworld’s second largest information technology company by revenue after Apple.As other great companies, Samsung has been making a lot of profits over timeand must have been able to keep the attention of its customers towards her andkeep the prestigious and friendly image it reflects in the society. In respectto that, Samsung’s product innovation approach is the key towards thatobjective. Product innovation is the development and market introduction ofnew, redesigned or substantially improved good and services.
But the question which stillstands is what are the benefits the society experience through Samsung’sactivities which drives me to the question of “How does Samsung’s productinnovation approach bring benefits in south Korea”? The importance of such aquestion lies in the fact that most at time when we refer to innovation or moreprecisely product innovation, our minds are turned and focused towards thebenefits that the company at the origin of that innovation may have but rarelyat the benefits that the surrounding society enjoys. As a consequence, it isimportant to know how Samsung honors its external stakeholders through itsproduct innovation approach. methodology Toachieve this analysis several aspects have and will be taken into account andwhich are as follows; Reason for the implementation of Samsung’s productinnovation approach, future expectations and plans of Samsung, detail analysisof Samsung’s product innovation approach. This investigation will be achieved throughthe adequate use of article for validity of analysis in the real life,statistics for more exactness, accreditations from the government and withoutforgetting the definition and explanation of key concepts such innovation andproduct innovation.BodyInnovation Innovation is defined as incremental or radicalimprovements to a business idea, or the development of new ideas in relation toa final product, service or even processes and is the results of both externaland internal influences.
This investigation focuses on the aspect of innovationwhich is product innovation. This isdefined as the development and market introduction of a new, redesigned andsubstantially improved goods and services. Product innovation will include newproduct invention that is technical specifications and quality improvementsmade to a product or the inclusion of new components, materials and evendesirable functions into an existing product.
As the research question clearlystates, more emphasis will be laid on the profitability of product innovationderived by a business in this context Samsung to the society in which it isoperating. Therefore this investigation will be based on Samsung’s productinnovation approach.Samsung’s product innovation approach is made up ofthree main components which are technology Innovation, Social innovation, andenvironmental innovation. Due to the fact that we are concerned with what willbe profitable to the society in which it is operating, therefore we going tofocus on social innovation and environmental innovation.Social innovation Since the research question implies a forward lookinganalysis, there is the need to know what Samsung has already accomplished andwhat are their future expectations as far as the social innovation aspect isconcerned.Concerning its achievement, Social innovation nurturedthat the development of product endeavors and in-house start-ups that improvedequal accessibility to products by consumers and its services couldcommercialize their ideas outside the boundary of Samsung in order to shareinnovative outcomes across society and as far as its future plans areconcerned, Samsung wants to focus on meeting social needs. That is developingfeatures and services that enhance the access to digital inclusion by thevulnerable in order to create social value and also contribute to theachievement of the United Nations sustainable development goals (SDGs).In order to meet such plans, Samsung has defined wellstated objectives for social innovation and which will be the main focus inorder to see in the benefits it will have on the society and are as follows;-To guarantee access to products and services-To develop products for the vulnerableTo share innovative technology with society Socialinnovation has been elaborated through different aspects;Accessibility Withthe aim of helping to address issues of social importance, Samsung strivestowards finding the best way of taking advantages of their characteristics andcapabilities that an ICT company offer.
And to acquire such an aim, thereshould be to provide equal access to ICT for vulnerable populations. That ispeople with either physical or mental disabilities, individuals from low incomehouse-holds and disaster affected areas that Samsung engages to offer to allits customers and to enable them to use Samsung’s products and servicesconveniently. That is why Samsung decided to abide to its “4C Principle foraccessibility experience”, in developing products This4C principle is divided into consideration, coherence, comprehensiveness andco-creation.Consideration: This is concerned with the detailstaken into account in the design of Samsungs product for all consumersCoherence: This aspect shows the desire to a keepconsistent design experience for all products Comprehensiveness: Balance and equally designed forallCo-creation: Keep consumers involved to create designswhich are satisfactory to all. Inorder to verify the effectiveness in achieving Samsung’s objectives, there isthe need for real evidences on its Social product innovation approach throughthe services developed for the people with disabilities as shown below;The first is the disaster safety communication networktechnology. In 2017, Samsung officially became the world’s first to successfullyexhibit an uninterrupted video communication technology that remains intacteven in disaster situations. Samsung used the Mission Critical Push To Talktechnology which is seen as an international standard that supports individualsor groups or even emergency calls through the disaster safety communicationnetwork, to demonstrate communication among multiple speakers with the help ofhigh quality videos. By sharing such an innovative system and permitting fastsharing of information, it is expected to have contributed quite a good numberof disaster rescue operations.
Furthermore, Samsung also developed a product calledRe!umino. Re!umino is the name of the gear VR-enabled visual aid solution. Itis an innovation conceived to assist people with visual impairments in enjoyinga clearer and especially a brighter view of the world by processing the imagesshown trough a VR device. Re!umino means “give back light” in Latin and firstoriginated from the fact that 86% of the visually disabled people can stillsense light. Seen as an excellent idea under Samsung’s C-lab program, Re!uminowas therefore introduced at the mobile world congress 2017. Re!umino helps inameliorating the symptoms of wide-ranging visual impairments that is ultra lowvision caused by corneal clouding, fielddefect disorder and refraction disorder.
As a result, it increases the visionof those with under 0.1 vision to a 0.8 to 0.
9 vision level. Theideas and technologies which are developed through Samsung’s social productinnovation processes are ones that are embellished with aim of bringing moreproactive solutions to social issues. With this desire, Samsung has beensupporting start-ups that evolved from its C-lab project which can be seen onthe table below with some short descriptions of the start-ups respectively;