Tuesday, October 24, 2006

Samsung Chairman Stresses Creative Management

The Samsung chairman is in the news....two points

1. A new management keyword--Creative management.
2. Concerns over the investigation into Samsung's
transfer of wealth. (This is an ongoing issue with
most of Korean family-run conglomerates)

Chosun Ilbo and other Korean media note:

The Samsung Group chairman has returned to Korea after an extended trip abroad.

Visiting New York, London and Dubai, Chairman Lee emphasized
his new management keyword. {Creative Management}

Chairman Lee has done this often in the past, causing radical shifts
in the conglomerate'’s management priorities. By given a broad directive, Lee reduces the
burden of giving specific directions to the group.

Upon his return from the trip on his corporate jet
Monday night, South Korea's richest man gave an
obligatory but noncommittal reply when asked for his
reaction to summons from law officials regarding
allegedly illegal wealth transfers to his children.

Lee Hak-soo, the chairman'’s right-hand man, has
already been summoned for his alleged involvement in
his bossÂ’ tax-evasion case.

Apparently not affected by the prosecutors'
investigation, Lee has focused on the importance of
Creative Management during his world tour.

In Dubai, he praised the ruler of Dubai, saying he has
turned the desert city into a model of creative

In London, he visited Chelsea Football Club and
determined that the Premier League became successful
because of its creative players. In Yokohama, Lee
urged his men to adopt Creative Management in
developing future marketing items.

It is not the first time Lee has come up with a
business slogan. Besides his management skills, he is
known as a master of words, coming up with effective
business slogans time after time. The most famous
remark was what is known as the Frankfurt manifesto,
delivered in 1993: Change everything but your wife
and kids. <<<manufacturing>>>>

Despite his relentless effort in managing Samsung, Lee
is expected to face law officials next month. They
have been investigating whether Lee and other men at
Samsung deliberately transferred the controlling
stakes of Samsung Group to LeeÂ’s son, Jae-yong, and
three daughters through Samsung Everland convertible
bonds at below-market prices.


No comments:

Post a Comment