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Management in Korea and Samsung

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Lingrong Zhang

on 26 March 2014

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Transcript of Management in Korea and Samsung

Samsung

Background
Korea
Located in Eastern Asia
Small geographically
Population of 49,039,986
Democracy
Ranks 15 th in the world by nominal GDP and 12th by PPP (purchasing power parity).
One of the major economies in the G-20.
Part of one of the 4 Asian Tigers (Hong Kong, Singapore, and Taiwan)
As of 2012, the 6th largest exporter and 7th largest importer



Human Resource Management



Management in Korea and Samsung

by Lynne Vu, Edina Ahmetovic, Lingrong Zhang
Basic Information
Economy

Development & Business System


Business grouped into chaebols
Can be seen as a mix of Japanese and American business practices
Fast development because innovation is at the core of business

History of Samsung


•Founded in 1938 by Lee Byung-Chul as a trading company

•From 1958, began to expand to other industries

•Started Samsung Electronics in 1969

•Top consumer electronics company

•Leader in mobile, semiconductor and display technology



Culture and Management


Corporate Social Responsibility


Question 1



Which internal and external factors have helped Samsung Electronic to grow into its current position?



Internal Factors



•Technological leadership

•Innovation

•Internal competition

◦Drives efficiency

•Global marketing

◦Focusing on the brand

•Continuous globalization



External Factors


•Environment of Korean Chaebol

•Global memory chip market recession

◦Used that to their advantage
◦Everyone else cut investment while they built new capacity






Question 2



In which aspects has the management of Samsung Electronics throughout the past decades been typical for Korean management? In what aspects has it been atypical?



Management Aspects



Typical in that:
Works within the network of chaebol
Top-down management approach
Atypical in that:
Transferred ongoing business responsibilities to managers
Focus on the long term strategy










Question 3



Do you think Samsung Electronics has to transform itself fundamentally to remain successful in the future? Why or why not?



Aspects to Consider



Managerial Policies That Work
Innovation, efficiency, global marketing, globalization
But need to:
Make sure the work environment is suitable for global market



Discussion questions
Samsung Electronics

From very humble beginnings, it has emerged as Korea’s leading chaebol
Started as a joint venture [Samsung-Sanyo Electric]
1970s- Company grew rapidly
1980s- Internalization of Samsung happened
1980s- More allocation to high technology product


•Move towards high technology was very successful
•Focuses on four areas: digital media, semiconductor,
telecommunication network, and LCD digital appliances
•Now are leading in memory chip market






Samsung Electronics



Samsung Company Official Website:

•“Samsung is guided by a simple philosophy, strong values and high ethical standards that inform our work every day. In everything we do, we strive to help people live better lives.”

•“R&D is at the heart of everything Samsung does. Ongoing investment in our collaborative global research network plays a critical role in our ability to innovate products today that will enrich people’s lives tomorrow.”

◦Samsung’s team of researchers and engineers include over 50,000 employees




Leadership & Decision Making



•Built on Confucian beliefs




Hierarchical in nature
Top-down management style
Respect for Family/Parents
Education is very crucial
Diligence seen as necessary personal characteristic
Trust


Working and Living Conditions


Sacrifice of Korean people after the Korean War has paid off
Working hours have now reduced
Infrastructure is building up rapidly
Energy efficiency has increased

International Perspective
English is more widely spoke
Natural beauty of the country itself



Strong emphasis on education
Recruiting
Regular
Formal
Hired to correspond with university graduates
Non-regular employees
Casual
Strictly performance oriented criteria instead of personal networks and social ties in the selection process
Full transcript