Characteristics Of LG Electronics

997 Words4 Pages
Strategic alliances and human resource management practices are those practices exclusively developed, implemented and executed based on a deliberate relationship to a company’s strategy. Both are very useful to technological opportunities, to build decisive resource strengths and competitive capabilities, to develop supply chain efficiencies and carry value to their customers (Truss C, 1999). This research paper mainly focus on the LG Electronics is one of South Korea’s leading global companies in electronics industry. Also this paper shows about LGE has unique characteristics deriving from South Korean culture and economic structure. The author will also briefly describe about the LGE organization and explaining the purpose of chaebols. This…show more content…
In South Korea it is the second-largest company of its kind, following Samsung, and its headquarters are situated in the LG Twin Towers building in Yeouido-dong. Generally LG comprises have four business units i.e Home Entertainment, Mobile Communications, Home Appliance & Air Solution, and Vehicle Components. LG Electronics is made up 46 companies, and worldwide company has 114 divisions and has around 82,000 employees working. In 1958 LG was founded by Koo In-Hwoi and was called GoldStar. The L and G of LG Electronics are short for Life’s Good. Since for the company’s focus has always been to create a happier and better…show more content…
Also Chaebols give opportunity to economies by synergy affects and balance economies by large size. Most importantly chaebols have perfect for decision-making processes and securing new business opportunities through utilizing gained experiences and knowledge of many companies in a chaebol (Kochan T & McMillan-Capehart A, 2002).These above points are the most positive characteristics of chaebols are what are enabling their businesses to succeed in foreign markets. When there is a positive there always is a negative and a there are a few deficiency to chaebols as well Chaebols do not split business information with others due to their lack of intelligibility in business. In chaebols the highly arbitrary decision-making is dubbed as imperialistic management in the prevalent Korean press. This type of management has bad effects on company performance since company managers do not fully utilize the experiences and knowledge of employees. Also Chaebols take very high risk because the CEO a person makes all their decisions. They also have inefficient resource
Open Document