A most fascinating post and point of view you have expressed here.
The line I liked the best was this-
"
You may be retooling the whole place by the time you've hung up. But you'll always have work.
"
To what extent do you think this has to do with the fact that these companies are still run largely(more or less entirely) by their founders(or their families)?
The Chaebol culture is fascinating for sure and not without its various complications.
But this is a well known concept which is known throughout Asia,when you go into business its not just about you-Its about your team and collaborators as well.We are all in this together.
It's interesting to see that companies like Samsung are doing well even with radical changes in their scope. When a company makes these kind of changes, how much do you think is the role of internal factors within the company? This could include change in it's strengths, weaknesses etc. And, how much is the role of the external factors such as shift in consumer demand, new opportunities because of other companies etc?
TaimoorZ, I agree with you, they are doing well even they have made radical changes. To do that previous management was replaced and new executives arrived were really aligned, all together, on targets to achieve. Maybe is one of key reasons to achieve success.
The No.1 reason is because the Founding families have such a strong amount of hold and influence on these companies.
Also because the Founders have a stake in the company's well-being they focus on the Long-term (and especially sustainable business models) and on diversifying their income streams as much as possible.
tech4people, you make a good point. Having a major stake in the company does drive the founders to move forward for success. The Korean people also plays an important role, with their determination and spirit.
I don't mean to say anything against (or in any way demean) the achievements of the Korean People especially after the Korean War;but the fact of the matter is people everywhere are hard-working and industrious(provided you get out of their way by providing less bueracracy and less red-tape).
We can get this very level of innovation in America as well-If we just let Entreprenuers be;instead of overloading businesses with all manner of unneccesary Rules and Regulations.
I liked very much your article , but could you please clear the following phrase. "Can you imagine Apple doing that? Or even Nokia" I could not realize why this move it is a strategic move and will help Samsung and Korea and it would be a disaster for them if Nokia and Apple have done the same.
Thanks for the question. I meant that it was hard to imagine, to me at least, Apple announcing tomorrow that it had decided cell phones were yesterday's news and they were going into solar panels ( the iSun?)and health care now. Which is what Samsung, the world's #2 maker of cell phones, appears to be doing.
@t.alex I agree with you. Samsung products like mobile, Television are very popular in India. Earlier Nokia handsets were very popular in India. But after Samsung released its Galaxy series which was android compatible, it literally snatched mobile market from Nokia.
Perhaps in near future, Chinese manufacturere may occupy the current place of Korean manufacturers. This may be cyclic phenomena and it travels from one country to another country.
Yes, i agree with you all guys on China to improve on its quality of manufacturing products. This in the same vein, highly dependant on foreign business men and women transacting with local chinese manufacturers.
Chinese manufacturere may occupy the current place of Korean manufacturers.
@_hm I dont think its appropriate to compare Chinese manufacturers with Korean manufacturers. Korean brands like Samsung are considered very good brands because they offer high quality products to the consumers. Whereas chinese captures more of low end/low quality products. I really dont think china can occupty Koreas place in manufacturing.
@anandvy,. well i think that sound like a challenge to China. I feel China just intentionally what to circulate low quality products at a cheaper price to create competition for other manufacturers with a more expensive prices.With so much of china,s products around and their experiences- i feel they should be able to make a more quality products if they choose to.
I am continually amazed at how a very small country like South Korea maintains such a world presence in many product sectors. The products are of decent to high quality and innovations are coming fast and furious. The workforce is young, highly motivated and dedicated to its employers. The large companies produce a mind boggling range of products. I wonder what the secret recipe is for South Korea?
@FlyingScot, You are right but I feel the reason is because the rest of the World are flying into SouthKorea to manufacture their products and then bring it back to the rest of the world.
EBN Dialogue enables and encourages you to participate in live chats with notable leaders and luminaries. Not only editors and journalists, but the entire EBN community is able to comment and ask questions. Listed below are upcoming and archived chats.
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Thailand Stages a Comeback Join EBN contributor Jennifer Baljko on Thursday August 23, 2012, at 11:00 a.m. EST for a live chat on how electronic manufacturers in Thailand have shored up their supply chain to reduce the impact of future natural disasters.
Euro-Crisis: What It Means for High-Tech Firms Join EBN Editor in Chief Bolaji Ojo and Contributing Editor Jennifer Baljko on Thursday, July 12, at 10:00 a.m. EDT for a Live Chat on high-tech and Europe's economic difficulties.
Microsoft Surface: Potential Winners & Losers What are the implications for the electronics industry supply chain of Microsoft Corp.'s decision to launch its own tablet PC? Join industry veteran and EE Times' systems and OEM expert Rick Merritt on Tuesday, July 3, at 12:00 pm EDT for a Live Chat on this subject.
Join EBN contributor Jennifer Baljko on Thursday August 23, 2012, at 11:00 a.m. EST for a live chat on how electronic manufacturers in Thailand have shored up their supply chain to reduce the impact of future natural disasters.
Peter Drucker famously said "Trying to predict the future is like trying to drive down a country road at night with no lights while looking out the back window." Yet in the razor's-edge world of electronics—with a lean supply chain and just-in-time demands—the need to know the future is vital.
While no one really can accurately predict the future, we can take guidance from another Drucker saying which is the best way to predict the future is to create it.
You've heard the saying "the No. 1 supply chain risk is your people." That hasn't always been the case. But today's complex global supply chain requires a new type of multitalented employee. It's one who understands, finance, marketing, economics, is savvy with technology, graceful with relationships and can think analytically.
Where are these people? Are universities properly preparing the next generation supply chain professionals? How do train your existing workforce for these new, demanding positions?
Brian Fuller, editor-in-chief of EBN, will lead a 60-minute Avnet Velocity panel discussion that will ask and answer these and other questions swirling around today's supply-chain talent challenges.
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