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R & D Management Cope With Changes In The LG Enterprises Market

793 Words4 Pages

OB Team Project Team 5 HOW LG ELECTRONICS – R&D DEPARTMENT COPE WITH CHANGES IN VIETNAM SMARTPHONE MARKET I. General Information about LG In 1958, LG Electronics was founded as GoldStar. LG Electronics produced South Korea 's first radios, TVs, refrigerators, washing machines, and air conditioners. Gold Star was one of the LG groups with a brethren company, Lak-Hui (pronounced "Lucky") Chemical Industrial Corp. which is now LG Chem and LG Households. GoldStar merged with Lucky Chemical and LG Cable on February 28, 1995, changing the corporate name to Lucky-Goldstar, and then finally to LG. LG Electronics Inc. is a South Korean multinational electronics company headquartered in Yeouido-dong, Seoul, and is part of the LG Group, employing 82,000 people working in 119 local subsidiaries. With 2016 global sales of USD 47.95 billion, LG global comprises four business units: Home Entertainment, Mobile Communications, Home Appliance & Air Solution, and Vehicle Components. The LG 's structure Currently, Executive Board of LG includes Jo Seong-Jin as Chief Executive Officer; Song Dae-hyun as President of Home Appliance & Air Solution Company; Brian Kwon as President of Home Entertainment Company; Juno Cho as President of Mobile Communications Company and Lee Woo-Jong as President of Vehicle Components Company. The organization structure of LG is rather complex following matrix model that combine the features of three basic structures namely Product Structure, Functional

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