Nowadays, not only the nation but also many companies try to find the way to break through the long-lasting low growth phase.   This is the area about which many people concern and try to get solutions, despite there's no definite answers for it.  And I'd like to introduce the newspaper article about this.

The Company means Fellowship to Common Goal

The meaning of Company from English is “together (Com)” and “pany (Bread)”, fellow with whom we eat bread together.  But more important thing is that it means sharing the goals together, i.e. having the common goals.  To be a company, nothing is more important than that.

“quoted from ‘What You Need Now', JE Sohn, Chairperson Softbank)

(quoted from the articles in “Weekly BIZ” as below)

Only a Nation with ‘Technological Frontier' can Overcome Dead end Low-growth Phase.

Only a Nation with ‘Technological Frontier' can overcome the dead end of low-growth phase.  The Nation of ‘Technological Frontier' means the nation in which the political stability and financial system are properly equipped, and the laws & policies stand the high level of quality.  And then, the investments could be increased by Companies when these systems are well developed, and the balanced budget execution could be made by government through correct tax policies.

- Guntram Wolff, Director of Bruegel -

Slim down out of the Upphase and Focus on Core Business.

To overcome the low-growth phase, company should slim down from the upphase and allocate the resources focused on core competencies by reducing or clearing the non-core, loss business through outsourcing or strategic partnership, disposal or liquidation in the worst case.

In this process, the communication should be solidified between employees, clients and partner companies in order to form a bond of sympathy to overcome a crisis and share the suffering together.  

In this respect, it is evaluated as a right decision that Samsung has sold the non-core businesses, chemicals and defense to Hanhwa.  It is regarded as win-win transaction because Hanhwa also could achieve the economic scale in core businesses, chemicals and defense, and solidify their product portfolio. 

- Professor JY Song, Business Administration in Seoul National University -

What is required for the Innovation is New Competitors.

The real innovation is to set up new competitors in rapidly changing world these days.  It has been very effective way for success for companies in Korea that they take the No. 1^t company as their model and tried to launch the better products more quickly.  But nowadays, it is timing to set other strategies as the China is chasing in the same way.  It is not matter of problem that the big companies are of great importance in Korea economy.  What matters is that there is no new competitor to big competitor.  

Google or Uber have not existed in 20 years ago, but they have change the industrial structure with new business model.  This applies to companies which are taking the lead in VR (virtual reality) and 3D printing industry field.  It is difficult that innovation is created by the existing companies.  The bigger the size of company, the weaker the flexibility.  A Change is an inconvenient and uneasy thing.  It is almost impossible to change the company from the bottom of the base which is engaged with a number of relationships.  So that is why the new opportunity of start-up business should be provided to new entrepreneur who has new business model.     

‘Inclusion' and ‘Diversity' are Major Topics in the Business Trend 

‘Inclusion' and ‘Diversity' are the major topics in the business trend.  These days, the diverse top caliber talents are preferred by many companies in order to adapt to new market and adapt quickly to global environment.

“The exposures to diverse people and environments make me learn the very different way of thinking, and give me the opportunity to look back on my prejudice for self-reflection.

- Ilian Mihov, Dean of INSEAD

INSEAD has ranked #1 and overtook Harvard in the British Financial Times Global MBA Business School Ranking.  With campuses in Fontainebleau in France, Singapore, United Arab Emirates Abu Dhabi, INSEAD selects students from the 80 countries all around the world and keeps diversity for nationality and race of the student composition by selecting students from one country maximum 10~20% of the total successful candidates.  It is regarded as education that students can have opportunities to meet persons ‘who are different from me' and also as trainings for the diverse management environments.

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