As per Franniegold (2008), the company's brand value was at US 5.2 billion in 2000 ranked 43rd globally, in 2001 it was ranked 42nd with USD 604 billion and in the year 2005, Samsung was at position 20th among the first companies with brand value of 14.96 billion. The company has taken up 18.1 % of all the exports which contributes to the economy of Korea with 13.2% billion in 2000 and by 2004 it grew to 20.7% with Brand value of USD 52.7 billion. Its tax payments to the Korean Government in 2003 were KRW 6.5 trillion, 6.3% of the total revenues from tax. By the year 1997, Samsung market value shot up to KRW 7.3 trillion accounting to 10.3% of the Korean market. By 2004 it went up to KRW 90.8 trillion. The company's net annual profits in 2001 were KRW 5.8 trillion and in 2002 it went up to KRW 11.7 trillion. These figures shot up to KRW 15.7 trillion in 2004 indicating a steady increase.
Samsung annual profit growth is as follows: in 2001 it grew by 4.5 billion, in 2002 it reached $ 8.89 billion and in 2003 this figures shot up to $ 5.6 billion while $11.8 billion were recorded by the end of the year 2004. The firms debt-to-equity ration decrease includes: 104% as by 2000, 78% in 2001, 68% as in 2002, in 2003 the figures were decreasing at 56% while 2003experienced a decrease of 51%.
Mission and Vision statement
Its mission and vision statement, Economic contribution to the nation, priority to human resources, pursuit of rationalism, indicates its existence purpose and propels and gives the company a direction towards growth in the future. Currently, the company's strategic objectives indicate leadership in product development, strong performance, concentration in research and development and universal operation and presence as well as profitability and customer orientation. Samsung has installed strong mission and vision statements as well as good management philosophy that helps it achieve the above objectives. Its state of being conglomerate relates to its diversification in the other subsidiary group companies that it posses (Samsung Group, 2006).
The appropriate approach to the market involves the manner in which it gains value to each and every section of the supply chain that encompasses relationship of customers and data relating to the products. This is achieved through Enterprise Resource Planning (ERP). The company seeks to link up core gadgets like system-LSI, memory chips, A/V and LCDs, telecommunication gadgets, computers, home appliances, home appliances as well as other stand-alone goods into a net remedy to period of digital convergence. Samsung is dedicated to continuously create good relationship with its stakeholders comprising of employees, customers, suppliers as well as several governments and communities as a whole. It has a great focus on quality products that are at better competitive edge in the market.
Strategic Analysis factors
Samsung's in-depth business and strategic analysis involves a comprehensive study of the company, its