Samsung under grand transition for creative innovation

April 14, 2014 Leave a comment

Samsung under grand transition for creative innovation

Sohn Jae-gwon

2014.03.30 18:06:24

Samsung Electronics will make a drastic change in its corporate policy toward ‘Samsung for creative innovation’ from the previous ‘Samsung under management.’ 

The transition came as the global competition is turning fierce and realignment of companies is taking place at a rapid pace, making it difficult for Samsung to maintain the world’s top position simply with capacity of management and control, not to mention surviving the race.
A sense of crisis has been spreading within Samsung as its performance has been stagnant with higher reliance on its smartphone Galaxy series and the company has even hit the snag in many areas.
In response, Samsung implemented ‘Creativity and Innovation 2.0 Approach’ to overcome limits as was proclaimed by Samsung chairman Lee Kun-hee earlier this year. In part of the approach, it holds the ‘Blue Hack’ competition for new product development among Samsung employees and opens the ‘MOSAIC’ division designed to gather collective intelligence.’
Specifically, the Blue Hack competition will be held more than two times this year. Blue Hack, which means ‘hack into Samsung,’ is the event to promote development of new products and services by Samsung employees lasting for two days.
The MOSAIC will set up an exclusive office and its dedicated workers will be responsible for consistent efforts to make Samsung’s system more creative. With the set up of the MOSAIC, Samsung will officially operate its new system for creative innovation beginning from June.
Such grand transition largely came as Samsung would make concrete steps to establish the new system which can escape itself from worsening performance and ensure ‘mach management.’

Filed under Macro Trends

Unknown's avatarAbout bambooinnovator
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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