“We shared the view that crisis awaits us next year and we need innovation to overcome it,” Samsung Group’s presidents agreed on the urgency of the conglomerate’s need to seek a fundamental change and innovate

December 25, 2013 Leave a comment

Samsung presidents agree on need for fundamental change

Sohn Jae-gwon

2013.12.23 18:08:38

Samsung Group’s presidents and the Future Strategies Office, the group’s de facto controlling tower, agreed on the urgency of the conglomerate’s need to seek a fundamental change and innovate with respect to technologies and management system next year. According to group officials, about 400 presidents participated in an overnight workshop at Samsung Human Resources Development Center in Yongin, Gyeonggi Province, Monday, in which they brainstormed on such topics as “Mach management,” “extreme gap,” and “CSV.” In particular, “Mach management” gained attention again as a means to drive change and innovation. The management concept was suggested by group chairman Lee Kun-hee at a presidential meeting in 2006. Just as it takes for a jet to change everything from its architecture to engine to materials and parts to be able to break through Mach speed (340 meters per second), Mach management calls for Samsung to fundamentally change its nature.
CSV, or Creating Shared Value, was also cited as a task for Samsung presidents to realize. The presidents agreed that Samsung wants to go further than clinching the world’s top market position but become a brand that both Koreans and foreigners cherish.
“We shared the view that crisis awaits us next year and we need innovation to overcome it,” a Samsung official said. “We didn’t set a particular topic for focus but it was a place where we discussed various topics that would help us overcome crisis and innovate ourselves.”
The workshop was presided over by Samsung’s Vice Chairman Choi Jee-sung, who leads the FSO, and was attended by about 10 FSO officials including communications team leader Jang Chung-gi as well as CEOs of Samsung’s main affiliates including Samsung Electronics and Samsung Life Insurance.

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Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

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