The formation, existence, interpretation, performance, validity and all aspects of these Terms shall be governed by and construed in accordance with the laws of the State of New York, without reference to its choice of law principles. These conditions are not subject to the United Nations Convention on Contracts for the International Sale of Goods, the application of which is expressly excluded. Notwithstanding the foregoing, we may seek injunctive relief (or an equivalent type of urgent relief) in any court of competent jurisdiction. Politics can also influence business in many other ways. Political disruptions can disrupt operations and the supply chain, resulting in business disruption and loss of revenue. Any political turmoil can hurt businesses operating in the region. Samsung`s business spans 80 countries and a geopolitical crisis in each of the markets can result in a loss. In addition, the fear of terrorism is great in several areas. All of these factors can hurt business. However, if the political environment of a market is good, it can be very profitable for businesses.
Samsung is a South Korean company that enjoys a strong position in the US market, which is also due to the close relationship between the two countries. Samsung is a global conglomerate operating in the white goods market or the consumer devices and gadgets market. The company, which is a South Korean family-owned company, has global aspirations, and as its recent expansion into new markets has shown, Samsung is not content to operate in a few markets around the world, but rather wants to cover as many countries as possible. Therefore, this article focuses on the external environmental factors of Samsung`s strategy. STEEP analysis provides concentrated information covering various aspects of the external environment. Like PEST and STEEP, it creates a snapshot of the current socio-political reality. It also gives a better idea of existing trends. As mentioned in the last section, Samsung faced stiff penalties for its alleged imitation of Apple`s iPad and iPhone, resulting in the company being beaten up in terms of public perception and consumer endorsement of its strategies. It remains to be seen how the company would break out of the legal maze it finds itself in due to the various lawsuits in developed markets.
Sustainability is not just a trend. It has become an important area of interest for companies. Companies are working not only to save energy and minimize their environmental footprint, but also to protect the environment. In addition to managing and reducing energy consumption, Samsung has also focused on managing water resource risks. The brand also has a chemicals management policy and a pollutant management program in place. It has also taken concrete steps towards sustainability in a number of other areas. Samsung is a South Korean multinational founded in 1969. Recently, he has focused on making products that help people lead better, smarter lives. However, as the brand operates in a global market, it is also subject to various types of pressures.
This is a PESTEL brand analysis that analyzes how Samsung is influenced by political, economic, social, technological, environmental and legal forces. Samsung`s STEEPLE analysis of the business environment is part of the company`s medium- and long-term strategic analysis. The purpose of this study is to assess Samsung`s prospects. This dimension is particularly important for Samsung, as the development of many markets in developing countries has allowed the company to expand its global presence. However, this dimension is also worrisome as the current global economic crisis has severely affected consumer purchasing power in many developed markets, forcing Samsung to look for profitable businesses in emerging markets. The most important point here is that the macroeconomic environment in which Samsung operates globally is characterized by uncertainty and volatility, which means that the company has had to realign its strategies accordingly. The salvation for the company is that it has adapted quite well to reducing consumer disposable incomes in developed countries by establishing itself in emerging and developing countries.