Introduction product innovation approach. methodology To achieve this analysis

Introduction

 

Samsung Electronics Co is a
South Korean multinational electronics company headquartered in Suwon, South
Korea. Through extremely complicated ownership structures, it is the flagship
company of Samsung group, accounting for 70% of the group’s revenue and is the
world’s second largest information technology company by revenue after Apple.
As other great companies, Samsung has been making a lot of profits over time
and must have been able to keep the attention of its customers towards her and
keep the prestigious and friendly image it reflects in the society. In respect
to that, Samsung’s product innovation approach is the key towards that
objective. Product innovation is the development and market introduction of
new, redesigned or substantially improved good and services.

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But the question which still
stands is what are the benefits the society experience through Samsung’s
activities which drives me to the question of “How does Samsung’s product
innovation approach bring benefits in south Korea”? The importance of such a
question lies in the fact that most at time when we refer to innovation or more
precisely product innovation, our minds are turned and focused towards the
benefits that the company at the origin of that innovation may have but rarely
at the benefits that the surrounding society enjoys. As a consequence, it is
important to know how Samsung honors its external stakeholders through its
product innovation approach.       

methodology

            To
achieve this analysis several aspects have and will be taken into account and
which are as follows; Reason for the implementation of Samsung’s product
innovation approach, future expectations and plans of Samsung, detail analysis
of Samsung’s product innovation approach. This investigation will be achieved through
the adequate use of article for validity of analysis in the real life,
statistics for more exactness, accreditations from the government and without
forgetting the definition and explanation of key concepts such innovation and
product innovation.

Body

Innovation

            Innovation is defined as incremental or radical
improvements to a business idea, or the development of new ideas in relation to
a final product, service or even processes and is the results of both external
and internal influences. This investigation focuses on the aspect of innovation
which is product innovation.  This is
defined as the development and market introduction of a new, redesigned and
substantially improved goods and services. Product innovation will include new
product invention that is technical specifications and quality improvements
made to a product or the inclusion of new components, materials and even
desirable functions into an existing product. As the research question clearly
states, more emphasis will be laid on the profitability of product innovation
derived by a business in this context Samsung to the society in which it is
operating. Therefore this investigation will be based on Samsung’s product
innovation approach.

Samsung’s product innovation approach is made up of
three main components which are technology Innovation, Social innovation, and
environmental innovation. Due to the fact that we are concerned with what will
be profitable to the society in which it is operating, therefore we going to
focus on social innovation and environmental innovation.

Social innovation

            Since the research question implies a forward looking
analysis, there is the need to know what Samsung has already accomplished and
what are their future expectations as far as the social innovation aspect is
concerned.

Concerning its achievement, Social innovation nurtured
that the development of product endeavors and in-house start-ups that improved
equal accessibility to products by consumers and its services could
commercialize their ideas outside the boundary of Samsung in order to share
innovative outcomes across society and as far as its future plans are
concerned, Samsung wants to focus on meeting social needs. That is developing
features and services that enhance the access to digital inclusion by the
vulnerable in order to create social value and also contribute to the
achievement of the United Nations sustainable development goals (SDGs).

In order to meet such plans, Samsung has defined well
stated objectives for social innovation and which will be the main focus in
order 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 vulnerable

To share innovative technology with society

            Social
innovation has been elaborated through different aspects;

Accessibility

            With
the aim of helping to address issues of social importance, Samsung strives
towards finding the best way of taking advantages of their characteristics and
capabilities that an ICT company offer. And to acquire such an aim, there
should be to provide equal access to ICT for vulnerable populations. That is
people with either physical or mental disabilities, individuals from low income
house-holds and disaster affected areas that Samsung engages to offer to all
its customers and to enable them to use Samsung’s products and services
conveniently. That is why Samsung decided to abide to its “4C Principle for
accessibility experience”, in developing products

            This
4C principle is divided into consideration, coherence, comprehensiveness and
co-creation.

Consideration: This is concerned with the details
taken into account in the design of Samsungs product for all consumers

Coherence: This aspect shows the desire to a keep
consistent design experience for all products

Comprehensiveness: Balance and equally designed for
all

Co-creation: Keep consumers involved to create designs
which are satisfactory to all.

            In
order to verify the effectiveness in achieving Samsung’s objectives, there is
the need for real evidences on its Social product innovation approach through
the services developed for the people with disabilities as shown below;

The first is the disaster safety communication network
technology. In 2017, Samsung officially became the world’s first to successfully
exhibit an uninterrupted video communication technology that remains intact
even in disaster situations. Samsung used the Mission Critical Push To Talk
technology which is seen as an international standard that supports individuals
or groups or even emergency calls through the disaster safety communication
network, to demonstrate communication among multiple speakers with the help of
high quality videos. By sharing such an innovative system and permitting fast
sharing of information, it is expected to have contributed quite a good number
of disaster rescue operations.

Furthermore, Samsung also developed a product called
Re!umino. Re!umino is the name of the gear VR-enabled visual aid solution. It
is an innovation conceived to assist people with visual impairments in enjoying
a clearer and especially a brighter view of the world by processing the images
shown trough a VR device. Re!umino means “give back light” in Latin and first
originated from the fact that 86% of the visually disabled people can still
sense light. Seen as an excellent idea under Samsung’s C-lab program, Re!umino
was therefore introduced at the mobile world congress 2017. Re!umino helps in
ameliorating the symptoms of wide-ranging visual impairments that is ultra low
vision  caused by corneal clouding, field
defect disorder and refraction disorder. As a result, it increases the vision
of those with under 0.1 vision to a 0.8 to 0.9 vision level.

            The
ideas and technologies which are developed through Samsung’s social product
innovation processes are ones that are embellished with aim of bringing more
proactive solutions to social issues. With this desire, Samsung has been
supporting start-ups that evolved from its C-lab project which can be seen on
the table below with some short descriptions of the start-ups respectively;