What is the most essential core of a company?

The development of a company is determined by its unique resources, and it needs to build its own capacity framework around these resources in order to achieve a competitive advantage.

Talents, along with policies to retain them.

Irrelevant title: Yesterday I read a sentence that says a good company is one that first enables its employees to earn money

What kind of enterprise? Large factories with a high degree of automation – in such cases, the core elements are definitely all the equipment and fixed assets； For small businesses, agents, and design firms, the key is people.

I can’t agree with that statement of yours. Competition among enterprises is a competition for talent; enterprises need to have their own core technologies in order to develop and remain invincible. Let me tell you a story. Ten years ago, we had a plant for processing condensate oil. Since the cost of purchasing this condensate oil was low, no major modifications were needed to the plant; it consumed little energy and had a high yield of light oil. As a result, we made 200 million in profits over the course of a year. A certain manager, full of pride, issued a message warning employees that the production of condensate oil is a corporate secret that must not be disclosed to outsiders; otherwise, disciplinary action will be taken. This year we restarted the unit, which has undergone extensive modifications; as a result, its energy consumption is high and the yield of light oil is low. It’s still that same manager who insists on using the same methods as before; in producing condensed oil, I’ve calculated that we lose at least 200 million over the course of a year. What does it mean to have both positive and negative losses? It’s better to shut down the facility and let it become obsolete. Condensate oil is a double-edged sword: it can generate profits if processed properly, but it can also result in losses if not. Why then do some refining companies prefer not to process it? Daring to engage in refining without core technologies – isn’t that digging one’s own grave?

There are peers, but no shared profits. The core of a company is to have the highest level of competitiveness, to continuously update its technologies, and to adopt a more human-centered approach to management. Look at what those companies that have truly succeeded in a free market do. Except for industries monopolized by state-owned enterprises.