Samsung Group has taken the founder’s words seriously and has made every effort to expand and diversify. Samsung has a presence in many industries, such as construction, finance, insurance, heavy industries, display technology, smartphones, semiconductors, and consumer electronics. This diversification has provided the company with many revenue streams and protected the company from economic recession, market fluctuations, or economic downturns.
Due to Samsung’s large customer base, which leads to increased demand for the company’s chinese overseas british data products and services, the company engages in mass production. Mass production allows Samsung to benefit from economies of scale. Mass production results in lower unit production costs, giving the company a cost advantage. This advantage is passed on to customers through competitive pricing, giving Samsung a competitive edge in the market.
Vertical integration
Samsung's supply chain is vertically integrated, giving Samsung control over production processes, costs and quality. The massive in-house production of various components reduces Samsung's dependence on external suppliers, while at the same time allowing the company to maintain stronger control over the production and development of its products.
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