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The Samsung Way: Transformational Management Strategies from the World Leader in Innovation and Design by Kyungmook Lee, Jaeyong Song

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PART THREE

HOW DID SAMSUNG SUCCEED?

This section analyzes Samsung’s core competencies as key success factors for the company. After the 1990s, a company’s “core competencies,” or its unique and inimitable competitive resources and capabilities, became an important strategic concept. Companies that have developed core competencies can create a sustainable competitive advantage over the long-term.

Various conditions must be satisfied to turn a resource or capability into a core competency. First, the resource or capability must fit in with the main factors for success in a particular industry. Samsung refers to this as the “concept” or “nature” of a business.1 For example, semiconductors and cosmetics each have a different concept of the business ...

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