South Korea’s Samsung Chairman Lee Gun-hee passed away, creating Samsung’s “wolf culture”
This article is from the official website of Peninsular.
Samsung chairman Lee Kin-hee passed away at the age of 78.
Lee Kin-hee is the chairman of Samsung. Since Lee Kin-hee took over Samsung, he has led Samsung to the stage of glory and the world, and created the most valuable technology company in Asia. Li Jianxi often sits firmly on the throne of the richest man in South Korea. Li Jianxi has a high status in South Korea. He is called the “economic president” and the chaebol has the greatest power.
Lee Jianxi was accused of “failure” to build Samsung’s “wolf culture” with an iron fist.
In the 2020 South Korean rich list, Samsung Electronics President Lee Jianxi has the highest wealth, reaching $17.3 billion . His son, Samsung Vice President Lee Jae-yong, has a fortune of US$6.7 billion, ranking fourth.
According to Yonhap News Agency, the 72-year-old Li Jianxi is the third son of Samsung founder Li Bing. He took over as chairman in 1987 and is now the richest man in South Korea. It seems that the scenery is boundless, but Li Jianxi’s growth process has not been smooth sailing, and has even been regarded as a “failed manager” by investors. But Lee Jianxi took the consequences of his wrong decision and eventually led Samsung to survive the Asian financial turmoil. In the early days of taking office, Li Jianxi was shocking, once said that “except for his wife and children, everything will change.” Since then, another storm of personnel changes has set off, and 150,000 unqualified products have been personally burned. Such an iron fist also created Samsung’s “wolf culture”.
In the early days of taking over, everything must change except for his wife and children.
In 1987, Li Jianxi took over as the chairman of Samsung Group when he was just over 50 years old. At the beginning of his tenure, someone once described the “new head” as follows: Since he took office as the chairman of Samsung Group in December 1987, Li Jianxi has been regarded as the quietest among the chairman of the domestic consortium in five years. However, entering 1993, Li Jianxi was really anxious!
From March to June 1993, Li Jianxi visited Frankfurt, Los Angeles, Tokyo and other places to learn about Samsung’s international development. “Seeing is believing” made him very sad: in many stores, Samsung products are placed in inconspicuous corners, no one cares! Samsung’s products cost more than their competitors, but they can’t sell at a good price.
Lee Jianxi proposed at the Frankfurt meeting to completely reform Samsung. And wrote the book “Samsung New Management” in one go as a guide for the future development of the company. The book opens with a slogan: “Changes start with me”, which is still regarded as Samsung’s corporate philosophy and spirit of struggle. Where is the breakthrough point for reform? Li Jianxi pointedly pointed out: In the era of globalization, quality is the sight of a company’s competitiveness, which is directly related to the survival of the company.
In 1993, in his “New Management” manifesto, Li Jianxi put special emphasis on quality management and striving for change as the core, completely changing the “quantity-centric” thinking that prevailed at that time. The concept of “new management” has brought unprecedented impact to Samsung employees. Many people have doubts and opinions: “What should we do if we focus on quality and the production volume declines?”
In this regard, Li Jianxi has an “iron fist”. Those who do not support reforms will be replaced directly. “Except for wives and children, everything must change.” This was a sentence Li Jianxi caused a sensation in South Korea at the time, and it became a turning point for Samsung to become an internationally renowned multinational company.
An iron fist to change coaches to create a “wolf culture” personally burn down substandard products
In June 2012, the former vice chairman of Samsung’s core components, Kwon Wu-hyun, was suddenly pushed In front of the public, he became the CEO of Samsung. The industry was stunned and quickly returned to calm: such “iron fist”, “cyclone” and surprise are just the style of Li Jianxi. On December 5, Samsung again began to adjust personnel at the general manager level. It is reported that Samsung has adjusted the number of executives as many as seven or eight. This means that about 20% of the heads of more than 30 major companies under the Samsung Group have been replaced. Most of the general managers who withdrew from the frontline business this time are over 60 years old.
Although changes are the norm for Samsung, Samsung’s adjustments in 2012 are clearly beyond the usual, and Samsung China is no exception. According to a reporter from China Economic Net, on December 21, 2012, more than 800 managers of Samsung China Investment Co., Ltd. gathered in Beijing Jiulong Lake Resort. While reviewing and looking forward to the business in China, they also released the organizational structure and personnel in China. Adjustment.
In fact, in the latest adjustments, Li Jianxi’s determination and ambition for the mobile phone business have become more apparent. Because, what worries every employee of Samsung China is the performance indicators for 2013-the overall target for China in 2013 is 24 billion U.S. dollars and 16 billion for mobile phones.
One month after Kwon Wu-hyun took office, Samsung Group issued orders to its subsidiaries Samsung Electronics, Samsung Life, Samsung C&T, etc., requiring all employees to go to work early to 6:30 in the morning. It is hoped that this will allow employees to realize that Samsung is in crisis and enhance their awareness of crisis. In 1996, Li Jianxi personally ignited and burned 150,000 unqualified electronic products, which caused a huge shock in the company. Since then, Samsung has focused on product quality.
Nowadays Samsung, a bloodthirsty “wolf culture” created by Lee Kin-hee has taken shape. For future hunger, it is likely to make it a leading force for Asian companies to challenge European and American technology giants. To win the favor of a group of interest followers.
was once rated as a “failed manager” and led Samsung to survive the Asian financial turmoil.
Like many CEOs’ training process, Li Jianxi’s growth process has not been smooth sailing. In the late 1990s, the Samsung Group was trapped in the erroneous thinking of “big enterprise manufacturing”. Obviously there was a surplus in the domestic automobile industry, but Li Jianxi still invested hundreds of millions of dollars in the automobile business. The established Samsung Motor Company soon became in debt and was forced to sell it to Renault Motor Company in 2000.
This move is extremely dragging down the group. Li Jianxi was once criticized by investors as a “failed manager.” But Li Jianxi took the responsibility bravely. He donated 2 billion won of personal property at one time, and assumed almost all the responsibility for the failure of his investment in the automotive field. After Samsung Group issued this announcement, investors were shocked. “Fortune” magazine praised Li Jianxi as “CEO who takes responsibility for wrong investment decisions.”
In addition, when the Asian financial turmoil that made everyone in the Far East endangered the Hyundai Group and the Daewoo Group in South Korea, Samsung managed to survive the Fortune 500 with the leadership of Lee Kin-hee. Instead, its status has improved.
Li Jianxi’s most wise point is to employ people. He is very open-minded and uses talents only, and has nurtured many managers outside the family. In order to improve the transparency of the group, Li Jianxi appointed some foreigners as group directors. He vigorously promoted young reserve cadres to take on leadership positions, which created a prosperous talent within the Samsung Group.
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