Samsung targets faster decision-making in 2014

December 26, 2013 Leave a comment

Samsung targets faster decision-making in 2014

Wednesday, Dec 25, 2013

Kim Young-won

The Korea Herald/Asia News Network

SEOUL – Top executives of Samsung Group affiliates discussed how to become a first mover by deploying a swift decision-making process and seeking constant innovation during a strategy brainstorming session for next year, sources said Tuesday.“The executives put an emphasis on making constant efforts to become a global leader and an innovator,” said an official from the nation’s largest conglomerate.

Key participants in the meeting that lasted for two days from Monday at the group’s training institute in Yongin, Gyeonggi Province, included CEOs of Samsung affiliates, the official added. The meeting was presided over by Choi Gee-sung, head of Samsung Group’s corporate strategy office.

One key topic of the meetings was “Mach management”, according to the sources, indicating relentless efforts and changes should be made to break one barrier after another.

Samsung Group chairman Lee Kun-hee first suggested the concept in 2006.

The CEOs also discussed creating shared value, or CSV, to promote coprosperity with small businesses and society, and measures to widen the gap with other competitors in the global market.

The latest gathering was also aimed at encouraging the CEOs of each affiliate not to remain self-complacent with past success.

Samsung Electronics, the conglomerate’s flagship firm, is expected to mark record-high annual revenue of around 250 trillion won (S$299 billion) this year.

The electronics business accounts for more than 50 per cent of total sales for the family-run conglomerate.

The meetings of the CEOs came after the global conference for next year’s strategies last week, where hundreds of executives at home and abroad held a series of meetings at Samsung Electronics’ business sites in Suwon and Giheung in Gyeonggi Province.

Samsung employees went on holiday from Tuesday through January 1.

Filed under Macro Trends

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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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