Nowadays, there are numerous successful companies in every throughout the world and in the several branches of technology such as, Microsoft, Nokia, Samsung, Toyota and Toshiba. They can be always trying to discover new ways to make people's life easier. Today, there are extensive companies that are working in many branches of technology such as, mobile marketing communications, home appliances, and technology innovator in gadgets. LG Corporation (LG Corp. ) was founded in Oct 1958. LG is a Korean company and their headquarters is situated at Seoul. LG is most commonly from the catch term "Life's Good" but the name LG is actually the abbreviation of "Lucky Goldstar". This name came from combining the work Lak-Hui(pronounced as Blessed) from Lak-Hui Chemical Industrial Corp. and Goldstar from GoldStar Co. (presently known as LG Electronics). In the past couple of years LG Organization has released new technology such as hard disks, computer monitors, notebook computers and mobile phones to contend with other companies. LG Company has lots of reasons for being successful, but we will discuss the value of Internet Sociable Changes, Changing Characteristics of Company and Business company and it's Environment.
Internet and Community Changes:
Nowadays, Internet becomes a common thing in our life that playing important functions. Internet is one of the very most powerful tools which have so many advantages, disadvantages and results on numerous things inside our life such as, Online Banking, Online Shopping, and Online Medical Advice therefore on. These types of services have made a new way in today's world. In the present time, many companies, outlets and stores are connected to the internet for do their daily works. Having online sites is extremely necessary for each company. Internet is exactly like a service that is able to change everything in society. LG Corporation is just the same as other companies; they also have their own website which is http://www. lg. com which has many useful services for customers to connecting to the company. Having that website has a whole lot of benefits for LG Firm. They include sharing information about almost all their products and company improvement as well as advertising.
Internet allows every company, businesses users and customers can connect in all across the world with no accessible problems. LG Organization is able to share all necessary data about all products and progress of the company in their own website. It is because they make clear every details about their products on the website. Alternatively, every costumer is able connect to LG Corporation's website to see the services. In addition, server administrator can show all necessary information such as price, features and technology used in the website. It is because it can benefit customers to find products which suits their own preference and budget.
In today's time, there are extensive ways for advertising such as through Tvs, Newspapers, Billboards, Wall membrane Painting and Posters. To do these needs a lot of purchases but today there can be an alternate way which is way cheaper. Advertising on the internet is one more thing that created a large change to the modern culture and many strong companies. LG Organization also uses advertising on the internet; it is because doing that kind of advertising has increased the business's profit. According to analyze that we have done from different websites we've found out LG's purposes to do advertising on the internet which are:-
(1) Finding new costumers and delivering services.
(2) To increase sales.
(3) How exactly to use services and exactly how those products can change the customer's life by causing their work easier.
Besides that, there is another benefit for utilising the web on population. All customers can contact a support rep or send a note to CUSTOMER SUPPORT and Support of LG Corporation at any time of the day and they will react to the costumers at the earliest opportunity.
All costumers from all around the world after joining to the LG Corporation's website to acquire information as well as getting the positioning of local LG distributers nearby the customers. One of the great things about this population change is making shopping easier for any costumers.
Changing Mother nature of Organisation
GoldStar (presently known as LG Firm) was created in 1958. GoldStar then transformed their name to LG Organization in the year 1995. Their purpose is to make customers happy through creating digital products and providing good service. Before this, their goal was to be the global top 3 companies working in consumer electronics and telecommunications. To do this, that they had several strategies in hand. Among this is Fast Expansion. Fast Growth is done by broadening their profits quickly as well concerning increase the quality of the products rather than the products quantity.
Besides that, there is also core capabilities which are divided into six. They are really Product Command, Market Authority, People Command, No Excuses, 'We' not 'I' and Fun Work environment. For Product Management, it identifies their capacities to invent top-quality products as well as using new technology. Market Management is their capability to make LG the number one brand worldwide. People Command is their staff's abilities to perform extremely well. No Excuses identifies the business as well as its staffs never to blame anything for not obtaining goals. 'We' not 'I' is to improve team work as well as not crediting are only a person accomplishment but crediting the task to the contributing team. Fun Office is the place of work created by the business where staffs have their freedoms well known and a fun working environment.
LG Corporation is a People Limited company. This means that their shares are sold publicly and their major stockholders are given the companies annual statement. In 2008, LG Organization paid 57, 232 million Korean Won to their shareholders. Another feature of a People Limited company is they need to have at least two directors with bare minimum age of retirement life of 70. At the moment, LG Firm has seven directors. These seven directors are divided into two, Internal Director and Alternative Director. You will find three Internal Directors whom are Yong Nam(Vice Chairman & CEO, LG Consumer electronics), David Jung(CFO of LG Electronics) and Yu Sig Kang(CEO of LG Organization). The four External Directors are Sang Hee Kim, In Ki Joo, Kyu Min Lee and Sung Won Hong.
Business Organisation and its Environment
As we know, every company has its own controllable environment and non-controllable environment. Controllable environment identifies the internal environment of the business and Non-controllable environment identifies the exterior environment of the company. The controllable environment and non-controllable environment plays a large role with the company. It is because it can influence a lot of things such as sales, production, perception and many more. It is therefore important for a business to maintain its proper inside and exterior environment.
LG Organization also sustains its inside and exterior environment.
For their inner environment, LG Firm can maintain the key four details of interior environment which are labour, money, materials and equipment.
At the firs, Labour refers to people who perform manual work and Manual work refers to work finished with hands. LG Organization has more than 82, 000 employees whom work in various areas of work in over 110 different countries. How exactly does LG Corporation ensure that their staff will remain happy and loyal to the company? Firstly, LG Firm provides training with their personnel for both work related and ethics related. This is to meld the staff to have the ability to perform as well as to be an moral person. This means that their staffs are placed up to date with the existing technologies and methods to increase efficiency of work. Secondly, LG Corporation provides rewards to their staff predicated on their performance. Besides that, LG Organization has their own rewards system which rewards personnel predicated on several factors such as working conditions. This is to give determination to their personnel to perform better when doing their jobs at work. If the personnel at LG Organization were to rebel, chaos would appear at the task place and production will decline and less work will be done.
Second, Money refers to a medium the business has which they can use to switch for materials, services and a great many other things. Money is the most crucial item an organization will need to have since it is the medium used for trade. Since LG Organization has been having revenue for recent years, they do not have to get worried about not having enough money. LG Corporation uses money to purchase goods, materials, pay staff's salary, pay fees, open new branches, purchase land, pay shareholders and so many more. Without money, the business is considered bankrupt and will have to go through court order. The business will have its business quit and all the company's possessions will be sold and the money obtained from reselling those assets will be used to pay off all of the company's obligations.
Materials make reference to the recycleables had a need to build or make items. LG Organization requires a whole lot of materials. For an example, LG Firm uses cold cathode fluorescent lamps (CCFLs) to make LCD screens. Without materials, a company cannot make some of those goods that the company produces and work will be arranged to a halt. Therefore, minus the CCFLs LG Company struggles to produce the LCD displays and the production of LCD screens will be ceased. LG Firm is also current with the e latest energy conservation and environmentally friendly materials.
Equipment refers to the things used to produce or increase output. LG Corporation runs on the lot of equipment to increase productivity as well as reduce work needed to be done by their staff. For a good example, personnel at LG Company uses laptop computers and computers to increase output so they do not need to print and file up so many documents as the documents can be stored in the systems server.
For their external environment, LG Corporation is able to maintain the key three details of exterior environment which can be competition, technology and ecosystem.
Competition refers to companies which produce similar products that your company is rivalling to be the better designer. Among the ways to get more buyers is to lessen the price tag on that. LG Corporation has many competitors. Included in this are Samsung, HTC, Acer, Hitachi, Philips, and so many more. To be ahead of their opponents, LG Corporation should be ground breaking and produce new technology or items faster than their rivals. For an example, LG is launching the first Windows Mobile 7 telephone before HTC. Without competition, a business is considered to be 'king' and can dominate the marketplace with a specific product or service. They could take advantage and sell their products for a higher price.
Technology identifies the new request of technology. Technology is important to our lives as it creates work easier and gets done faster. LG Corporation also uses and produces new systems. In the entire year 2000, LG Firm launched their first Internet refrigerator. This refrigerator has a 37 centimetre touch-screen LCD screen and uses can listen to music, make mobile or video calls as it has a camera and microphone attached to it, watch Television, surf the web and use the refrigerator as a whiteboard. Without technology, we'd require more energy to do work as well as work takes a longer time and more effort.
Ecosystem refers to the natural and non-biological things in an environment. Nowadays, people have become aware of the ecological problems around of us. Therefore many companies have grown to be alert to their role to the environment. LG Corporation also has their eco-friendly products. LG released the GD510 mobile phone nicknamed "pop" which a mobile that runs on solar energy. Besides that, LG also released another phone called Remarq which is a phone created from 87 percent of recycled materials and 19 percent from it is recycled plastic.
In summary, we reviewed about the Internet public changes, Changing Natural of Company and Business organisation and its own Environment. They are the three details that Company of LG following. We believe that, if each company with respect to these arguments can be considered a success company with a high income for future.
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