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Management Essay:LG集團概況

時間:2016-07-15 09:38來源:livesitehelp.com 作者:cinq 點擊:
本文是留學生essay范文,主要內容是圍繞LG集團,講述其歷史,以及每個發展階段的戰略問題等。
Management Essay: LG集團概況 
Overview Of The Lg Group
 
在LG的歷史中,他們已經適應其所面對一些變化的戰略。低成本戰略(1947-1987)已經成為競爭優勢。LG的競爭與其他跨國企業相同,利用韓國的低成本勞動力和政府補貼的資本成本。該戰略是在競爭對手的產品可以接受的,雖然不是優越的質量。在上個世紀80年代中期,LG需要改變戰略的推力,成為價值戰略(1987-1995)。他們把一些因素,包括韓國的消費者比他們之前更復雜以及生活標準的提高增加了韓國人對更高質量的產品和服務的需求,使大部分韓國消費者的能力不再是追加底價且低質量的產品;韓國政府開始放松貿易壁壘使外國企業更容易與LG在韓國競爭;
 
On February 22, 1995, Bon Moo Koo, took over the helm of the LG Group. Like a newly re-commissioned ship, LG had recently undergone significant renovation and appeared to be in great sailing shape. After steering through some stormy seas from 1985 to 1991, the clouds had cleared and LG's future looked sunny and bright. Group revenues had increased each year from 1991 through 1994, when they stood at a record US$38 billion. In 1995, Chairman Koo announced "LEAP 2005," his vision of the future. Of all the different elements of this vision, the goal of increasing revenue 10 times become US$380 billion by 2005 with fifty per cent coming from international sales was the most challenging.
 
In the history of LG, they already made some change in their strategy to adapt the situation they face. Low Cost strategy (1947-1987) was becomes the competitive advantage they focused on. LG competed with other multinational corporations by leveraging Korea's low cost labor and government-subsidized cost of capital. The strategy was under-pricing competitors with product of acceptable, although not superior, quality. By mid-1980s, it was clear that the strategic thrust of LG needed to change, became Value Strategy (1987-1995). They transformed for some factors reason such as, Korean consumers were more sophisticated than they before and also the rising standard of living increased the ability of Koreans to afford higher quality products and service that makes most Korean consumers were no longer happy with low quality, even if it did come at a low price; the Korean government began to relax trade barriers that made easier for foreign companies to compete with LG in Korea; as wage rates increased in Korea, low cost labor began to erode as a source comparative advantage.
 
Some refurbishing to the ship had performed by LG to respond the sales dropped by US$1 billion and 18 per cent decline on profit between 1986 and 1987.
 
"Management by self-control" was implemented as new management approach on its decision-making style. LG had a history of relatively centralized decision making and a top-down management process. It allowed for much greater autonomy than had ever existed in the group, but many lacked experience with it. LG was restructured in 1987, LG's various affiliated companies were divided into 21 "Cultural Units" that consisted of multiple Strategic Business unit (SBUs) grouped together by common 'cultural' characteristics.
 
By 1994, the results of these efforts were beginning to show. Sales had increased each year from 1991 through 1994. Net income was up nearly 800 per cent, rising from US$128 million in 1991 to US$965 million in 1994.
 
New Face and Image
Mr. Bon Moo Koo took over as chairman in 1995. Re-commissioning occurred on January 1, 1995. Lucky-GoldStar Group officially changed its name to the LG Group with a new Group logo - "The Face of the Future" with 5 keys concept were: The World, The Future, Youth, Humans and Technology.
 
Growth was the center of his new vision for the LG. He charted a course in his LEAP 2005 initiative that would take LG on a journey from being a leading company in Korea to being a leading company in the world.
 
To achieve the general objectives of Leap 2005, Chairman Koo articulated a basic philosophy:
 
Compete from a global perspective
Compete with world-class companies in the global market
Secure global management system to be competitive on a world and regional basis
Secure and utilize people, finance, and technology from a global perspective to create world class business systems
Create maximum value for customers, employees, and shareholders
Conduct business with integrity
Contribute to social development as a corporate citizen
  (責任編輯:cinq)
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