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Samsung is 10th most valuable brand in the world as its brand value is more than $38 billion as it was founded by the Lee Byung-Chul in the year 1938 as it was small organisation with only 40 employees at that time but now Samsung always focus on future as their main motto is “IMAGINE” which means that to be innovative and also to be better in technology as compare to competitors. Samsung always believe in effective and efficient process which help them to control the market which is also their core competitors advantage.

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In 21st century the key to success for all the organisation is to be innovative because each day new technology updating which also means that old technology couldn’t survive which will lead to organisation failure. Innovation become the most important factor for any organisation.

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We all know the success of Samsung in each market it is all because of innovation as it is said that Samsung is one of the most innovative organisation in 21st century as the founder of Samsung was innovative as well as efficient however now Samsung spend millions of dollar in research and development department to be upgraded in the market which help them to get competitive advantage. Moreover, Samsung offers a wide range of products which include mobile phones, television, refrigerator, tablets, smart watches, laptops.

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Samsung R&D team spend billions of dollars to be creative and innovative which will help the organisation to achieve organisational goals research and development analysis product information and design which will help in product prototype or final design of the product. R&D team will also look for competitor advantage and help Samsung to be creative for example Samsung have smart technology for mobile phone charging which is wireless that build competitive advantage over others.

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The Expanding Role of R&D at Samsung Semiconductor, Inc.

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Technology research is the most important process because Samsung deliver best and latest technology to the customer as they are known for innovative technology which provide them core competitive advantage over their competitors which help Samsung to achieve organisational goals. Technology research will lead to creativity which will help the consumers to use better resources.

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Technology in future by Samsung research

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A key process of organisation as information is a primary source of any organisation which help them to gain all kind of knowledge in case of consumer information or organisation information for example if Samsung need information about consumer new demand or any product target market which will be executed by the help of information which help Samsung to gain profit or if Samsung need any information on new technology which will to produce better products for customers.

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Samsung Is Best Product In The World 2013

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Product development is an important process for any organisation which will help them to achieve future goals as Samsung develop their product in such a way which help the organisation to attract consumer for example Samsung make their product affordable and creative which help them to earn good amount of profit. Samsung satisfy every demand of consumers and make sure to develop innovative product for future.

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David Eun (Samsung Innovation Center) at Startup Grind 2014

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Dorner, N., Gassmann, O., & Gebauer, H. (2011), Service innovation: why is it so difficult to accomplish? Journal of Business Strategy, 32(3), pp. 37-46.

http://www.emeraldinsight.com.ezproxy.csu.edu.au/doi/abs/10.1108/02756661111121983

Kanter, R.M (2006). Innovation: The Classic Traps.  Harvard Business Review, 84(11), pp.72-83.

http://ezproxy.csu.edu.au/login?url=http://search.ebscohost.com/login.aspx?direct=true&db=heh&AN=22671276&site=ehost-live

von Stamm, B. (2009). Leadership for Innovation: what can you do to create a culture conducive to innovation. Strategic Direction 25(6), 13-15.

http://www.emeraldinsight.com.ezproxy.csu.edu.au/doi/abs/10.1108/02580540910952154

The History Of Samsung (1938-present)

Matthew Burris - https://www.lifewire.com/history-of-samsung-818809

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Figure 1.1 The innovation circle with interconnected cycles

Source: Berkhout et al. (2010).

This cycle explains the importance of communication in the organisation