...CASE OF LG GROUP: DEVELOPING TOMORROWS GLOBAL LEADERS There is no company which is resistant to environmental changes, especially business environment. As the year comes by, new inventions or innovation will absolutely give impact on every type of business in the world. However, the causes of the impact, in other words, the root of the changes in the environment is not merely coming from company external territory; in most cases the impacts (either negative or positive) can come from external territory and internal territory of the company. This written analysis focuses on the LG Group’s Chairman Koo who once stated and defined his vision for the LG group to develop and improve significantly and to be a leading company in its local market area (Korea) and the wider market scope, international market and increase its revenue significantly within 7 years period. This is known as “LEAP 2005”. Even though is not an easy task to do, he is much certain that the group can do that. He considers the past performance of the group and the major internal changes within the company will enable it to achieve what its chairman wants. The main key success, as the management agrees, lies on the future leaders of the group. There are several questions that arise as the result of the discussion between the management in relation with this key point, namely where and how to find these future leaders, what capabilities of competencies these leaders should possess how to develop these key competencies...
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...Website: http://www.thecoca-colacompany.com/ourcompany/mission_vision_values.html Mission, Vision & Values The world is changing all around us. To continue to thrive as a business over the next ten years and beyond, we must look ahead, understand the trends and forces that will shape our business in the future and move swiftly to prepare for what's to come. We must get ready for tomorrow today. That's what our 2020 Vision is all about. It creates a long-term destination for our business and provides us with a "Roadmap" for winning together with our bottling partners. Our MissionOur Roadmap starts with our mission, which is enduring. It declares our purpose as a company and serves as the standard against which we weigh our actions and decisions. * To refresh the world... * To inspire moments of optimism and happiness... * To create value and make a difference. | Our Vision Our vision serves as the framework for our Roadmap and guides every aspect of our business by describing what we need to accomplish in order to continue achieving sustainable, quality growth. * People: Be a great place to work where people are inspired to be the best they can be. * Portfolio: Bring to the world a portfolio of quality beverage brands that anticipate and satisfy people's desires and needs. * Partners: Nurture a winning network of customers and suppliers, together we create mutual, enduring value. * Planet: Be a responsible citizen that makes a difference by helping build...
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...Ernst & Young “Business Leaders of Tomorrow” Case Contest Bigg Glowbell (BG) Case Study Table of Contents Table of Contents ................................................................................................................................................ 1 Assignment Background .................................................................................................................................. 2 Bigg-Glowbell Overview ...................................................................................................................................... 3 The Company History ...................................................................................................................................... 3 Revenue and Profits ........................................................................................................................................ 5 Bigg-Glowbell Global Locations ....................................................................................................................... 6 Bigg-Glowbell Organization, Products and Services ........................................................................................ 7 Ownership ..................................................................................................................................................... 14 Strategic Issues ..............................................................................................................................
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...human mentality and also how can they be administered in a broader aspect to garner success. However, the elements of success in 21st century from Howard Gardener and Claudio Fernández-Aráoz are not exactly the same. In terms of being successful in the globalized world nowadays, they vary on unlike aspects which include the nature and application of essential skills and features. Howard Gardener, a famous researcher in psychology who has been studying the functions of mind such as development, organization and creation. He suggests that in order to flourish and outshine in a globalized world, every person has to be concerned with how to establish those minds in the younger generation, those who could be taught to become the leaders or managers of tomorrow. Gardener also mentions five different minds that he believes human beings should develop in the future. The disciplined mind reminds us working stably over time to enhance skills and comprehension, the synthesizing mind collates information and presents it in a coherent way, the creating mind leads us to pull out new ideas and unexpected answers, the respectful mind greets the differences between individuals and finds to cooperate with each other effectively, and the ethical mind struggles to conceptualize proper work that people can do it unselfishly. In other words, these minds which are applied today will absolutely become a valuable property in the near future. Moreover, Gardener indicates that our present education system...
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...Global Strategy and Leadership is the capstone segment for the CPA Program professional level. This segment consolidates your learning in the other three compulsory segments, Ethics and Governance, Financial Reporting and Strategic Management Accounting. In the increasingly complex business environment in which organisations operate, characterised by change, uncertainty and escalating competition, the disciplines of strategy and leadership have become critical to successful organisational performance. The aim of this segment is to link the knowledge of management and financial accounting to the concepts of strategy and leadership. Accountants use a variety of technical information to make decisions for the future of the business within an ethical framework of operation. This segment shows that accounting information, ethics, strategy and leadership are applicable to accountants working throughout the world in diverse organisations. As discussed in Ethics and Governance, accounting as a profession is respected internationally and CPAs are employed worldwide. The segment materials address the needs of candidates operating in different international markets in varying roles. This segment builds upon knowledge gained in the other three compulsory segments of the professional level. The concepts of professional ethics and good governance underpin the segment. Candidates who have previously undertaken the Advanced Audit and Assurance or Strategic Management Accounting segments will...
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...1. Why are BP’s core values important in building a global brand? Answer) British Petroleum which was the top petroleum in Britain. In 1998 BP has to start to increase its business to an international level. Its step in the process was acquisition of foreign companies. BP started with the acquisition of Amoco and later Arco, Castro, and six more companies. But just acquisitions don’t make this company a global leader in the present market. The BP core values are:- Performance: First and a very important value for any company for its growth, is keep on performing with operations in safe and reliable way with their partners, customers and stake holders. Innovation: Developing new technologies for a better tomorrow. BP also helps the car manufactures in innovating new engine designs. Progressive: In the present global which has different values in different countries, every value has to be taken care. In this diversified world, every employee, every customer is important and safety, responsible of them is very important. Green: Environment is the important factor for any organization, and for petroleum organization it is still more crucial. And they should encourage Green movement and have to take steps to save the nature. 2. How do you think the company’s involvement in the Gulf Coast oil crisis in 2010 affected its global brand and its core values? Answer) 20th April 2010 on this day due to an explosion in Gulf of Mexico has caused the British Petroleum company a...
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...International Paper: Combining Industry and Social Responsibility Marketing 406 Roosevelt University December 6, 2014 Natalie Mierzynska, Sujatha Lekshmivaragan, Dmitry Rozental, Ebuka Nkwonta Table of Contents Background 2 Objectives 4 Procedures 4 Summary of Findings 4 Detailed Findings 6 Defying Common Criticisms 6 Integrating Sustainability Principles 8 “Greening” and Beyond 11 Enlightened Marketing 14 Social Responsibility & Financial Success 15 Conclusion 16 Works Cited 18 Background International Paper (IP) is the global leader in the production and distribution of paper and packaging products (Internationalpaper.com). It was founded more than 110 years ago, and produces products that we use every day including various types of paper, consumer packaging, pulp, recycling, and industrial packaging. The company’s stock symbol is IP, and a share of IP stock currently sells at around $53/share. IP is currently headquartered in Memphis Tennessee, and employs over 62,000 people (Kotler & Armstrong, 607). Last year, the company sold over $26 billion worth of product, placing it 111th on the Fortune 500. From a consumer perspective, when a multi-billion dollar producer of paper and packaging products comes to mind, we automatically assume that the company produces a large amount of pollution and destroys forests all over the world. However, International Paper prides itself on being on top of Fortune Magazine’s “Most...
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...drive its subsequent growth. 1987 After Lee’s death in 1987, SAMSUNG was separated into four business groups:1.) SAMSUNG GROUP 2.) SHINSEGAE GROUP 3.) CJ GROUP 4.) HANSEL GROUP Since the 1990s Samsung has increasingly globalized its activities, and electronics, particularly mobile phones and semiconductors , have become its most important source of income. STRATEGIES People Quite simply, a company is its people. At Samsung, we are dedicated to giving our people a wealth of opportunities to reach their full potential. Excellence Everything we do at Samsung is driven by an unyielding passion for excellence and an unfaltering commitment to develop the best products and services on the MARKET. Change In today's fast-paced global economy, change is constant and innovation is critical to a company's survival. For over 70 years, we have set our sights on the future, anticipating MARKET needs and demands so we can steer our company toward long-term success. Integrity Operating in an ethical way is the foundation of our business. Everything we do is guided by a moral...
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...and Transformation Services: Maximizing the Value of IT for Today and Tomorrow IT leaders face a formidable challenge: meeting their organizations’ high expectations of IT services while controlling costs and preparing IT to meet the future needs of the business. Amidst increasing globalization and the ever-evolving and complex business and technology landscapes, organizations expect their IT leaders to make strategic investments that will support business growth and agility, capitalize on new and existing technologies to gain competitive advantage, and align IT priorities with business needs. Accenture’s ongoing High Performance IT research reveals that while CIOs want to contribute significant value for their organizations, a host of factors—notably cost-cutting mandates, “keeping the lights on” and fixing troubled projects—inhibit the CIO’s ability to be a value creator. Despite these realities, the research indicates that high-performance IT organizations consistently achieve excellence in IT execution, IT agility and IT innovation, balancing the sometimes opposing demands placed on IT organizations. To respond effectively to today’s challenges, IT organizations need to work differently, leveraging technology in new ways to achieve business results while keeping operating costs low. Accenture helps organizations quickly identify how IT can fuel high performance. We team with IT and business leaders to plan and deploy IT for the most value, helping them set the technology...
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...Total Quality Pioneers Paper xxxxxxxx Quality Management and Productivity MGT/449 xxxxxx xxx Introduction People are confronted with scenarios concerning quality nearly every day. The word or notion of quality can be defined a number of ways. Some think quality should be determined by individual standards and expectations, while others believe quality is an ever changing state. Goetsch and Davis systematically broke down the elements of quality and determined that “quality is a dynamic state associated with products, services, people, processes, and environments that meets or exceeds expectations and helps produce superior value (Goetsch and Davis, 2010 p.5).” Whatever ones interpretation of quality might be, the intent of this paper is to more clearly define quality and its elements as well as describe how the quality pioneer's use of the total quality elements made the pioneers successful. Furthermore, this paper will explain why the elements of quality are useful in today’s environment and offer some insight as to what the future of quality might look like. Quality and its Elements Quality is defined with a variety of distinct explanations. Nevertheless, understanding quality is the key. End use consumers that are businesses explain quality unmistakably through the use of standards, specifications, and other measurable features. For instance, an individual in search of a new automobile will make his or her final purchase decision based on the quality...
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...DEVELOPING CORE VALUES IN STRATEGIC PLANNING A Paper Presented to Dr. Rusty Ricketson Luther Rice University In Partial Fulfillment of the Requirements for the Course LD 515 Principles of Strategic Planning by James C. Harvey Jr. GC6316 OUTLINE I. INTRODUCTION II. DEVELOPING CORE VALUES IN STRATEGIC PLANNING III. CONCLUSION IV. SELECTED BIBLIOGRAPHY INTRODUCTION This is an initial paper in which selected aspects of the literature will be examined to address a few of the tenets that are needed in the development of core values. There are many clear or apparent needs in the development of core values, but one of those needs may be singled out depending on the author’s point of view. This paper will examine a few of the tenets that are involved in the development of core values according to the different methods of authors. One of the basics that will be needed in the development of core values in any organization is a bedrock philosophy. As early as 1978, Ouchi and Price were extolling the benefits of orga-nizational philosophy. "The clarity and the widespread acceptance of an organizational philosophy," they wrote, "most clearly separates the Type Z from the Type A orga- nization" (Ouchi and Price 1993, 68). They went on to note that most large Japanese organizations possess a philoso- phy and that many Japanese leaders regarded as vitally ...
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...S. today. To be an effective leader in any business, one must be able to balance various roles within the workplace and keep the vision of the company prime focus. A leader must be able to convey information and instruction to his or her staff to ensure that daily function of the company or organization runs smooth in the present and future. After reading about Branson, I feel his style of leadership is most represented by the transformational style. Hellriegel and Slocum describe this style as, “a transformational leader involves anticipating future trends, inspiring followers to understand and embrace a new vision of possibilities, developing others to be leaders or better leaders, and building the organization or group into a community of challenged and rewarded learners” ( pg. 329). A leader with this type of style has to constantly be thinking of the present and future ideas, have strong critical thinking skills and be able to interact with those of various cultures. A transformational leader also has to be willing to take risks within the company. Branson is an example of this style. He describes his logical of his “pecking order” in his organization, “If your employees are happy then they will do a better job. If they do a better job, the customers will be happy, and thus business will be good and the shareholders will be rewarded” (p. 344). Overall, this style is leadership would be very effective in the U.S. today. Every leader has to be able to think about what...
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...U05a1: The Importance of Coaching MBA 6220: Appreciative Coaching Dr. Sara Orem Frenchie Smalls November 13, 2011 Coaching in this new era is a very critical leadership practice. There are so many changes and circumstances in today’s business world that has competitive pressures. In the twenty-first century stronger business can be built, with effective training and leadership skills. The success of our business world to day lies in the hands of our leaders. The key is the talent and know how of a leader and the dedication of its people. In order for business to prosper and survive in the twenty first century they must find individuals who want to lead people and those who can take up the reins of leadership for tomorrow. Today’s leaders must be able to manage themselves in a global environment. They must be capable of interacting with customers, employees, suppliers. Today’s leaders must understand their own reactions to change and transitions in order to coach others. Identifying your own personal flaws will help others in the process. To establish a good coaching relationship three things need to be established: commitment, rapport, and collaboration. Both coach and coachee must agree to the coaching process. Coaching addresses specific personal projects, business opportunities or general conditions in the coachee’s personal life or workplace. Coaching services includes value clarifications, strength analysis, brainstorming, creation of plans...
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...and managed by people, and are involved in the whole project process, i.e. from initiating to conclusion. Thus, the project management domain not only needs a well-organized and competent manager, but also a good effective leader who will lead the team in most efficacious manner. The essay elaborate and addresses the importance, necessity and role of leadership, discussing how it works and ways to enhance the effectiveness of project teams. Salas, Dickinson, Converse and Tannenbaum (1992) stated a good definition of 'team' as; A distinguishable set of two or more people interact, interdependently towards the common goal and mission, and have been assigned unique and specified role to perform, and who got a limited life span of membership. This refers to a higher interdependency among team members. This interdependence needs communication and harmonization among its members to achieve team goals. Thus, the success of team requires appropriate individual member contribution and best way in which these contributions combined into team response. (Hinsz, Tindale, & Vollrath, 1997) Since, Leader is a person who laid down the directions in an effort and have an authority over people to follow that particular direction. There is an important fact that the leader must have the ability in forming, facilitating and leading the project team. Nevertheless, sound knowledge that defines how leadership connect their associates effectively and efficiently is lacking....
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...Case Study LVMH: Managing A Multi-brand Conglomerate Team 5: Ilario Fulvio Giannetti Chen Peng Priyesh Salunke Harjeev Sabherwal Inna Zinina What does globalization mean to the luxury industry? Opportunities • Market expansion • Low-cost raw materials, equipment and labor available in the local market • To achieve economies of scale and scope • Increased margins due to pricing policy • New consumer groups available in the local market • Extension of the definition of luxury • To adapt local and new trends for the local market • To source talent globally • Transfer of skills and strengths Threats • Counterfeiting • “Grey” market • Vulnerable to PEST-EL Factors • Successive decrease in brand value • Increased competition • Creation of new competition by sharing know how Conclusion Although there are significant number of threats to the luxury industry, globalization is unavoidable for continuous growth. Assessment of LVMH’s diversification LVMH diversification 25% 8% 5% 4% 18% 60% 35% 38% 18% -2% Sales Operating profit Wines&Spirits Perfumes&Cosmetics Selective Retailing Fashion&Leather Goods Watches&Jewelry Assessment of LVMH’s diversification Strengths • Share operational resources and competencies' across brands and divisions • Maintaining exclusivity by multiple brands under one division • Strong Balance Sheets help to absorb losses from unprofitable divisions and maintain position • Selective retailing complements other brands...
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