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How Was Samsung Able to Go from Copycat Brand to a Product Leader

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KEYNESIAN: KETEGARAN UPAH DAN HARGA (WAGE AND PRICE RIGIDITY)

1. PENDAPAT KEYNESIAN

▪ Ahli ekonomi kumpulan Keynesian merasa pesimis atau tidak yakin kepada kebolehan pasaran bebas untuk menyelaras dengan cepat dan cekap apabila berhadapan dengan kejutan. ▪ Keynesian mempercayai upah dan harga adalah rigid dan liat (wages and prices are rigid or sticky) dan tidak mudah diselaras untuk membersih pasaran (mencapai keseimbangan). ▪ Ini memberi implikasi bahawa ekonomi mungkin tidak berada dalam keadaan keseimbangan dalam jangka masa yang lama. ▪ Sebagai contoh, kemelesetan yang hebat merupakan satu keadaan ketakseimbangan dimana terdapat pengangguran yang tinggi ( penawaran buruh > permintaan buruh. ▪ Kerajaan perlu bertindak atau campur tangan untuk menghapuskan atau meminimum keadaan ekonomi dimana output rendah dan kadar pengangguran tinggi.

2. KETEGARAN UPAH BENAR (REAL-WAGE RIGIDITY)

▪ A nalisis dan dasar Keynesian bergantung kepada andaian bahawa upah dan harga tidak meyelaras dengan cepat untuk membersih pasaran. ▪ Keynesian membincangkan isu ketegaran upah kerana mereka tidak bersetuju dengan penerangan ahli ekonomi Klasik mengenai pengangguran.

▪ Mengikut prendapat Klasik, pengangguran ( semasa kemelesetan disebabkan oleh pengangguran geseran dan struktur

Mengikut pendapat Keynesian , semasa kemelesetan terdapat keadaan di mana pekerja secara akif mencari pekerjaan dan majikan pula mencari pekerja. Tetapi, kajian menunjukkan keadaan sebaliknya. ▪ Untuk menerangkan bahawa pengangguran tidak semata-mata bergantung kepada keadaan mismatch pekerja-pekerjaan. ▪ Mengikut Keynesian, perubahan upah benar adalah terlalu kecil untuk mengimbangkan kuantiti buruh diminta = kuantiti buruh ditawarkan ( keadaan ini dinamakan ketegaran upah benar.

1. Sebab-sebab berlakunya ketegaran upah benar

▪ Untuk menjelaskan bagaimana upah benar meyebabkan pengangguran, upah benar yang dibayar firma mestilah lebih besar daripada upah benar bagi pasaran dalam keadaan seimbang

w

w* Efficiency wage wE E

N NE ▪ Kenapa firma tidak mengurangkan kos buruh dengan mengurangkan upah benar sebagaimana dicadangkan oleh ahli ekonomi klasik? Sebabanya: o Faktor perundangan dan institusi o Kos pusing ganti buruh (turnover) o upah yang tinggi memberi insentif kepada pekerja untuk bekerja lebih keras dan efektif

3. MODEL UPAH KECEKAPAN ( THE EFFICIENCY WAGE MODEL) ▪ Bergantung kepada pendekatan meningkatkan insentif (dorongan) dan mengurangkan disinsentif (carrot and stick approach). ▪ Carrot atau insentif positif : berasaskan idea bahawa pekerja yang diberi layanan baik akan bekerja dengan lebih rajin dan cekap. Majikan pula membayar upah yang lebih tinggi untuk mengekalkan pekerja. Begitu juga majikan tidak akan mengurangkan upah mereka semasa gawat. Keadaan ini dinamakan sebagai motif pertukaran hadiah (gift exchange motive). ▪ Stick atau aspek ancaman : berasaskan kepada penentuan upah mengikut model ponteng/mengelak kerja (shirking model). Mengikut model ini – sekiranya seseorang pekerja cuma dibayar upah minimum untuk pekerjaan mereka, pekerja ini tidak begitu kisah jika mereka kehilangan atau dibuang kerja disebabakn prestasi kerjanya yang kurang memuaskan. Jika pekerja tidak berpuas hati dengan pekerjaan mereka, pekerja akan ponteng/mengelak kerja. Motif pertukaran hadiah dan model ponteng kerja memberi implikasi bahawa usaha yang dilakukan oleh pekerja sangat bergantung kepada upah benar (w) yang mereka terima.

1. Keluk usaha (Effort Curve)

▪ Keluk usaha curve adalah hubungan antara upah benar tingkat usaha buruh. E

Effort E* curve B

EA A

wA w* w

▪ Mengandaikan keluk usaha berbentuk S ▪ Pada tingkat w yang paling rendah, pekerja kurang berusaha. ▪ Usaha meningkat secara perlahan mengikut peningkatan upah, w. ▪ Pada tingkat w yang tinggi, usaha meningkat engan banyak sebagaimana ditunjukkanoleh keluk usaha yang berbentuk curam ▪ Betik keluk menjadi landai pada tingkat w yang sangat tinggi, dan upah tidak akan meningkat lebih tinggi walaupun pekerja mempunyai motivasi yang tinggi.

2. Penentuan Upah mengikut Model Upah Kecekapan
Usaha bergantung kepada w tetapi apakah faktor yang menentukan w? ▪ Untuk memaksimumkan keuntungan ( firma akan memilih tingkat w yang menghasilkan usaha pekerja yang paling tinggi bagi setiap w yang dibayar kepada pekerja ( E/w ( usaha per ringgit upah benar (effort per dollar of real wage. ▪ w yang menghasilkan usaha per ringgit upah benar paling tinggi adalah pada titik B ▪ Upah benar (w) yang memaksimumkan usaha atau kecekapan bagi setiap ringgit upah benar didefinisi sebagai upah kecekapan atau ▪ efficiency wage (w*) dan usaha maksimum ialah pada titik E*. ▪ Majikan memilih w* dengan andaian keluk usaha tidak berubah ▪ Teori menganaikan w adalah tetap = upah kecekapan

3. Gunatenaga dan Pengangguran –Model Upah Kecekapan

Teori Upah kecekapan ( w adalah rigid sekiranya pada tingkat upah yang dibayar usaha per ringgit yang maksimum. ▪ Bagaimanakah sistem pasaran buruh upah kecekapan ini berlaku?

w

NS A B w* E wage

E wE

ND*

N N’ NE NS1 ▪ Upah kecekapan berbentuk garis horizontal kerana cuma keluk usaha menetukan upah kecekapan . Oleh itu w* adalah tetap. w

NS A B w* E wage

E wE

ND*

N N’ NE NS1 ▪ ND* mengambarkan keluaran sut buruh (MPN) apabila usaha buruh ditetapkan pada titik E* ▪ Seperti dalam kes Klasik, ( ( prouktiviti atau modal (K), meyebabakan ND* berganjak ke kanan. ▪ Any ( in keluk E yang mreyebabkan ( E* akan meningkatkan MPN, dan oleh itu menganjak keluk ND* ke kanan.

w

NS A B w* E wage

E wE

ND*

N N’ NE NS1 ▪ PadaA titik A, dimana upah benar itetapkan paa w*, firma mengambil N’ pekerja. ▪ Di titik B, apabila uapah benar w* penawaran buruh ialah NS1.. ▪ Dengan upah kecekapan jarak AB menunjukkan ( NS > ND ( di sini iandaikan t w* sentiasa lebih tinggi daripada upah keseimbangan pasaran, wE. ▪ Tingkat gunatenaga ialah di mana ND = N’, yang merupakan tingkat gunatenaga penuh. Mengikut model klasik, gunatenaga penuh ialah pada NE

▪ Oleh kerana upah kecekapan ditetap pada w* dan jika tidak berlaku apa-apa kejutan (perubahan) tingkat gunatenaga akan terus kekal pada t N’ . ▪ Dari aspek pengangguran, model ini memberi implikasi bahawa walaupun w telah diselaraskan sepenuhnya, secara teknikalnya ekonomi berada pada tahap guna tenaga penuh, masih wujud lebihan penawaran buruh. (NS1 – N’) ( pengangguran struktur. ▪ Dalam kes klasik upah benar boleh diturunkan tetapi mengikut model upah kecekapan upah adalah tetap Sekiranya pekerja sanggup untuk bekerja pada tahap w yang rendah , tetapi majikan tidak akan mengaji mereka kerana pada upah yang lebih rendah majikan tidak akan memperoleh usaha per ringgit upah benar yang maksimum berbaning pada tahap upah benar w*

▪ Model kecekapan upah memberi implikasi bahawa pengangguran akan tetap wujud walaupun tidak terdapat mismatch antara pekerja dan pekerjaan.

4. Kritikan terhadap Model Upah Kecekapan.

▪ Mengandaikan upah benar adalah tetap . ini adalah satu keadaan yang terlalu ekstrim kerana upah akan berubah melalui masa. ▪ Andaian yang lebih munasabah ialah pekerja lebih berhati-hati supaya tidak kehilangan pekerjaan kerana pada masa gawat, adalah sukar untuk mencari pekerjaan baru. Oleh itu pekerja mungkin rela menrima w* yang lebih rendah semasa gawat. Dengan andaian ini model upah kecekapan bersesuaian atau menepati dengan fakta kitaran perniagaan di mana w adalah rendah pada masa mmeleset berbanding dengan upah semasa melambung (procyclical real wage)

5. Upah kecekapan dan keluk FE

▪ Mengikut model klasik terdapat 2 faktor yang mengubah keluk FE

o Perubahan NS o Perubahan produktiviti

▪ Dalam Model Upah kecekapan

o NS tidak mempengaruhi gunatenaga

o Perubahan NS tidak memberi kesan ke atas keluk FE mengikut model upah kecekapan Keynesian.

o Perubahan produktiviti mengurangkan output guna tenaga penuh dan keluk FE berganjak ke kiri disebabkan:

1. kejatuhan MPN, dan (.produktiviti, ( ND pada mana mana w yang tetap. Oleh itu pada w*, tingkat guna tenaga penuh akan jatuh. 2. ( iproduktiviti, ( jumlah Y yang boleh dikeluarkan dengan jumlah tertentu K, N and E

4. HARGA LEKIT ( PRICE STICKINESS)

▪ Harga lekit – mengikut keynesian adalah harga nominal yang meyelaras (berubah) secara perlahan kepada perubahan ekonomi.

▪ Keynesian memperkenalkan konsep harga lekit untuk menyangkal ramalan bahawa dasar kewangan adalah nuetral.

▪ Dalam model klasik kes andaian bahawa w dan p meyelaras secara cepat membawa implikasi bahawa wang adalah neutral.

▪ Sekiranya wang itu neutral , (( penawaran wang akan menngubah tingkat harga dengan nisbah yang sama tanpa memebri kesan keatas pemboleh ubah benar. Kajian empirik menunjukkan wang adalah tidak nuertal dalam dunia sebenar.
.
▪ Keynesian menjelaskan keadaan wang yang tidak nuetral sebagai ( keadaan harga lekit iaitu harga tidak menyelaras dengan cepat terhadap perubahan penawaran wang.

1. Sebab-sebab harga Lekit

▪ Pertandingan bermonoploli. ▪ Kos menu

Pertandingan beermonopoli (Monopolistic Competition)

▪ Kebayakan firma adalah penentu harga dan bukannya penerima harga.

▪ Idalam model klasik, andaian pertandingan sempurna. Semua pembeli dan penjual adalah penerima harga.

▪ Keynesian percaya harga yang rigid tidak berlaku dalam pasaran pertandingan sempurna tetapi berlaku jika ekonomi mempunyai ciri bukan pertandingan sempurna. Keynesian berpendapat harga tegar kemungkinan boleh berlaku dalam pasaran pertandingan bermonopoli.

Kos menu.

▪ Kos menu ialah kos mengubah harga ▪ Contoh kos menu: o Kos mencetak semula senarai dan katalog. o Kos memberi maklumat kepada penlenggan berpontensi o Meletak tanda barang yang baru

▪ Sekiranya kos menu wujud dalam mengubah harga barang, maka firma akan jarang-jarang mengubah harga. Harga menjadi lekit.

▪ Sekiranya khilangan keuntungan kerana tidak mengubah harga < kos menu ( firma tidak akan mengubah harga.

▪ Ijika kehilangan keuntungan kerana tidak mengubah harga > kos menu ( firma akan mengubah harga..

2. Memenuhi permintaan pada harga nominal tetap

▪ Dalam kes harga adalah lekit, firma cenderung mengubah pengeluaran berbanding mengubah harga apabila berlaku perubahan permintaan.

▪ Kenapa firma rela memenuhi permintaan dengan menetapkan harga? o Andaian firma pertandingan bermonopoli boleh mengubah harga tanpa kehilangan pelanggan Iaitu P >MC ( lebihan harga nominal ke atas MC ialah markup (()( P = (1 + ()MC

▪ Adakah ianya menguntungkan firma untuk memenuhi permintaan dengan menetapkan harga? Jawapan nya YA, sekiranya

o Asekiranya kossut, MC rendah daripada harga tetap, firma akan menambah unit pengeluaran. Firma yang membayar upah kecekapan, boleh menambah pengeluaran dengan mengambil lebih pekerja kerana terdapat lebihan penawaran buruh.

3. Permintaan Buruh Efektif

▪ Berapa ramai pekerja akan diambil untuk memenuhi permintaan? Ianya bergantung kepada keluk permintaan buruh efektif

▪ Keluk permintaan buruh efektif menunjukkan berapa banyak buruh yang diperlukan untuk mengeluarkan sesuatu tingkat Y dengan A, K dan E yang konstant.

N Effective Labor Demand Curve

NDe (Y)

N

Y Y ▪ Lebih banyak buruh di perlukan untuk mengeluarkan lebih output

▪ Keluk permintaan buruh efektif menunjukkan hubungan antara jumlah output diminta dan jumlah buruh yang di ambil bekerja (employed) selepas upah dan harga menyelaras sepenuhnya.

▪ Hubungan ini sama dengan fungsi pengeluaran.

▪ Keluk ini digunakan untuk menentukan tingkat gunatenaga dalam model keynesian.

5. DASAR KEWANGAN (MP) , DASAR FISKAL (FP) DALAM MODEL KEYNESIAN

1. DASAR KEWANGAN (MP)

▪ Sebab utama memperkenalkan kelekitan harga nominal dalammodel keynesian ialah untuk menjelaskan keadaan ketakneutralan wang.

MP dalam Model IS-LM Keynesian

| |Classical |Keynesian |
|FE |Berbentuk tegak pada tingkat guna tenaga penuh |Sama |
| | | |
| |N (( ND = NS | |
| | |N ditentukan oleh persilangan keluk ND dan lkeluk upah |
| | |kecekapan |
| | | |
| |Perubahan NS akan mempengaruhi keluk N dan FE |Perubahan NS tidak memepengaruhi N dalam model upah |
| | |kecekapan dan tidak mempengaruhi garis FE |
| | | |
| | | |

▪ Oleh kerana andaian harga lekit,mengikut model keynesian, ekonomi tidak perlu berada dalam keseimbangan umum dalam jangka pendek

▪ Dalam jangka panjang pendapat Keynesian dan klasik adalah sama iaitu ekonomi berada dalam keadaan keseimbangan

▪ Apa terjadi dalam SR sekiranya ekonomi tidak dapat capai keseimbangan disebabkan harga lekit?

o Keynesian mengandaikan pasaran aset akan menyelaras dengan cepat danY ditentukan oleh permintan agregat, AD.

o Ekonomi sentiasa berada pada titik persilangan keluk-keluk IS - LM

o Output berbeza daripada output guna tenaga penuh dan ekonomi tidak perlu berada di atas keluk FE dalam SR

2. Peningkatan penawaran wang (MS) MOSEL IS-LM Keynesian

r FE

LM1

E P( LM2 r1 F r2 1.MS( IS

Y N NDe(Y)

N2 F N E

Y Y2 Y

6. DASAR FISKAL Kesan Peningkatan perbelanjaan kerajaan (G) r FE

LM2

G( H P( LM1 r3 r2 F r1 IS2 E IS1
Y
N NDe(Y)

N2 F N
E, H

Y Y2 Y

6.1 Kesan dasar Fiskal ( FP): ▪ Kesan dasar fiskal mengembang o peningkatan G o menganjak keluk IS ke atas dan ke kanan , ( Y dan ( N ▪ Kesan dasar Fiskal Menguncup o ( G o keluk IS beralih kebawah atau kekiri , ( Y dan ( N.

2. Kesan peningkatan G
|Keynesian |Klasik |
|-guna kesan pengganda untuk menjelaskan kesan perubahan G |-Guna cukai untuk menerangkan kesan |
|-pengganda G =( Y/( G ( ialah perubahan output dalam jangka pendek |( G. Mmemerlukan cukai semasa atau cukai masa depan yang lebih tinggi|
|akibat daripada satu unit (G |untuk membiayai lebihan perbelanjaan. |
|-Keynesian berpendapat pengganda FP bernilai > 1 ( iaitu bila G ( RM 1|-Cukai tinggi menjadikan pekerja makin miskin Oleh itu mereka |
|juta, Y ( lebih aripada RM 1 juta. |meningkatkan penawaran masa kerja (NS (, garis FE beralih kekanan ) |
|-garis FE dalam model Keynesian tidak bergantung kepada NS kerana upah |-cukai yang tinggi meyebabkan (NS (, keluk FE brerganjak ke kanan) |
|kecekapan dan ( tidak dipengaruhi oleh ( G. | |

Model IS-LM - (Keynesian) ▪ (G mempengaruhi Y melelui AD, dengan mengalih persilangan keluk IS-LM kekanan. ▪ Y( melebihi Y dalam SR apabila firma memenuhi permintaan lebihan pada harga asal. ▪ Oleh kerana peyelarasan harga adalah lambat, ekonomi berada dalm keseimbangan SR bagi temph yang lebih lama. ▪ Dalam LR, bila firma meyelaras P, kelukLM beralih ke atas (kiri) dan keseimbangan beralih ke titik H. (G tidak mengubah Y dalam LR

AD-AS model (Keynesian) ▪ -(G mengalih keluk IS ke atas dan kekanan dan (AD pada tingkat P diberi.. AD berlaih ke kanan – dasar fiskal ( FP) mengembang. ▪ Dlm LR (selepas peyelarasan harga sepenuhnya) ekonomi mencapai keseimbangan umum guna tenaga penuh tetapi harga , P, meningkat dengan lebih tinggi.

3. Kesan Cukai Yang Rendah ▪ Keynesian berpendapat ( (G, dan penurunan cukai longgok (lump sum tax) mempunyai kesan pengembangan ▪ Ini bermakna keluk IS berganjak ke atas dan kekanan dan seterusnya Y ( dan N( dalam SR. ▪ Kesan penurunan cukai memepengaruhi IS kerana mengikut Keynesian, pengguna akan (C dan merenah kan Sd , iaitu (Y-Cd-G). kejatuhan Sd akan (r yang mengimbangkan pasaran dan mengalih keluk IS ke atas. ▪ Kesan penurunan cukai longgok sama seperti kesan ( G ▪ perbezaan nya ialah penurunan cukai meningkatkan output guna tenaga prnuh yang diperuntukkan untuk C dan bukan yang diperuntukkan kepada G.
7. TEORI KITARAN PERNIAGAAN KEYNESIAN
|Teori RBC |KEYNESIAN |
|Kejutan produktiviti adalah kejutan paling penting yang |Permintaan agregat (AD) adalah peyebab utama kitaran perniagaan (BC) |
|meyebabkan kitaran perniagaan |Kejutan AD menglaih keluk IS atau LM dan memepengaruhi permintaan agregat |
|Secara langsung akan mengalih garis FE |terhadap output. |

Jenis kejutan permintaan agregat (AD)

|Kejutan AD yang mempengaruhi IS |Kejutan AD mempengaruhi LM |
|Perubahan dasar fiskal, FP |Peubahan permintaan wang |
|Perubahan Id disebabkan perubahan MPKf dijangka |Perubahan penawaran wang |
|Perubahan keyakinan pengguna yang mempengaruhi Sd masa depan | |

▪ Mengikut Keynesian kemelesetan boleh disebabkan oleh perganjakan keluk AD ke kiri yang disebabkan oleh oleh perganjakan keluk IS atau keluk LM ke ke kiri. ▪ Teori Keynesian sesuai dengan sebahagain fakta kitaran perniagaan.iaitu: o Teradpat turun naik dalam output secara berulang-ulang. o Gunatenaga akan turun naik dengan arah yang sama perubahan output. o Wang adalah procyclical dan leading o Pelaburan dan perbelanjaan baragan tahan lama adalah procyclical dan volatile. ▪ Ini ialah kerana teori kejutan Keynesian yang mengatakan kejutanke pelaburan, I, dan perbelanjaan terhadap barangan tahan lama adalah punca utama kitaran perniagaan.. ▪ Keynes believed in “animal spirit”, waves of pessimism and opitimism as a key source of BC. o Inflasi adalah procyclical dan lagging. ▪ Model Keynesian sesuai dengan data inflasi, kerana P jatuh selepas kemelesetan bermula. ▪
7.1 Prouktivit buruh bersifat Procyclical dan labor hoarding

▪ Firma mungkin meyimpan (hoard) buruh dan bukan memecat mereka semasa kemelesetan kerana kos diperlukan untuk mendapatkan dan melatih pekerja baru. ▪ Pekerja simpanan mungkin dguna secara kurang intensif dan tidak menyumbang kepada output diukur. ▪ Oleh itu semasa kemelesetan produktiviti diukur adalah rendah walaupun fungsi pengeluaran adalah stabil. ▪ Oleh itu Keynesian menggunakan pekerja simpanan untuk menghuraikan kenapa produktiviti buruh adalah procyclical mengikut data tanpa mengandaikan kemelesetan dan pengembangan disebabkan oleh kejutan produktiviti.

8. PENSATABILAN MAKROEKONOMI ▪ Keynesian mengutamakan peranan kerajaan untuk menstabil ekonomi. ▪ Kenmelesetan tidak disukai kerana ianya meyusahkan penganggur. ▪ Apa akan terjadi jika kejutan meyebabkan IS berganjak kekiri (kebawah) dan meyebabkan kemelesetan? r FE

LM1

LM2

IS1 E IS2
Y
Y2 Y ▪ Sekiranya kerajaan tidak mengambil apa-apa tindakan,akhirnya harga akan jatuh, keadaan kembali kepada keseimbangan tetapi Y dan N mungkin berada pada keadaan di bawah tingkat guna tenaga penuh bagi sesuatu tempoh masa. ▪ Kerajaan boleh meningkatkan penawaran wang, dan keluk LM berganjak ke kanan, dan ekonomi mencapai keseimangan umum. ▪ Kerajaan juga boleh tingkatkan G, keluk IS akan beralih ke kanan, dan keseimbangan umum dicapai

8.1 Masalah Penstabilan Makroekonomi

▪ Penstabilan ekonomi ialah cara menserhanakan kesan kitaran perniagaan dengan menggunakan dasar fiskal (FP) dan dasar kewangan (MP). Cara ini juga dipanggil sebagai pengurusan permintaan agregat. ▪ Secara praktiknya cara ini sangat berjaya. ▪ Masalah yang wujud ialah masalah untuk mengetahui sejauh mana ekonomi menyimpang daripada keadaan guna tenaga penuh dengan tepat, untuk membolehkan masalah ini diatasi dengan baik. ▪ Satu masalah lain ialah terpaksa dihadapi ialah sejauh mana kesan kuantitatif ke atas output akibat sesuatu perubahan dasar yang di ambil. ▪ Dasar-dasar mengambil masa untuk diimplementasi dan juga mengambil masa untuk memberi kesan. Oleh itu kita memerlukan ramalan yang baik untuk melihat prestasi ekonomi dalam sesuatu jangka masa yang akan datang. Malangnya kebolehan ramalan kita juga tidak begitu tepat.

Masalah ini mencadangkan bahawa kita tidak boleh gunakan dasar untuk ``fine tune the economy’’ tetapi digunakan untuk mengatasi kemelesetan yang teruk.

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...1) How was Samsung able to go from copycat brand to product leader? (Armstrong, Kotler, 2011, pg. 576-578) In 1993 the CEO of Samsung created a new strategy for the company. CEO Lee called it “new management.” The goal that he set for the company was to dethrone Sony as the biggest consumer electronics firm in the world. The company hired new employees with fresh new ideas that were bold and stood out among other products. Every product had to pass the “Wow!” test and if it didn’t get the reaction they were looking for, it went back to the design studio. Samsung achieved the goal in less than two decades. 2) Is Samsung’s product development process customer-centered? Team-based? Systematic? It sounds to me like the development process involves all three. With systematic, the company can use an innovation management system to collect, review, evaluate, and manage new product ideas (Armstrong, Kotler, 2011, pg. 259). Being team-based, the different departments work closely together, overlapping the steps in the product development process to save time and increase effectiveness Armstrong, Kotler, 2011, pg. 259). Being customer-centered, Samsung is designing products that create customer-satisfying experiences. Samsung knows what customers get from other leading brands and they are trying to produce something that is of a higher caliber and better all-around product (Armstrong, Kotler, 2011, pg. 258). 3) Based on the product life cycle, what challenges does Samsung face...

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...management was to make Samsung become a premier band that would dethrone Sony as the biggest consumer electronics firm in the world. The first step that Samsung took to become cutting edge product leader was new product development which was defined by Kotler and Armstrong as development of product, product improvement, product medication and new brand through the firm product development. Samsung implemented this by hiring a new group of young designers who creates sleek, bold, innovative and stylish product targeting high-end users. They then went a step further by Product testing Marketing which is also defined by Kolter and Armstrong whereby every product had to pass the “WOW” test, if it did not get a “WOOW” reaction during the market testing, it went back to the design studio making Samsung conduct integrated test of product and its entire marketing program-targeting and positioning strategy, advertising, distribution, pricing, branding and packaging and budget levels providing management the information needed to make a final decision about whether to launch the new product or going back to the studio. With the use of Positioning Commerzials Samsung abandoned low-end distributers and they decided to choose to work with specialty retailer such as Best Buy and Circuit City. 2. I believed Samsung process all these three approach since the new management is a top-to-bottom strategy. It requires various company departments to work together. In addition every new Samsung product...

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