Running head: Addressing the Challenges of

In 1999, Daewoo went bankrupt despite the fact it was the second largest conglomerate in South Korea. The debts were in excess of $84.3 million dollars. This downfall could have been prevented had Kim not allowed the government to intervene and force him to overtake industries against their will. By using effective communication, collaboration, conflict management, and team work, Daewoo could have remained successful. At the time, Daewoo felt it was government guarded. It was provided extensive subsidies, excessive cheap credit and protection from foreign competition. However, after the international demand for free trade evolved, the Korean government was forced to open its market and cause Daewoo to loose its import controls trade barrier.
Group and team communication could have built trust and pride amongst employees because they would have felt like they belonged. A group is defined as two or more individuals, interacting and interdependent, who have come together to achieve particular objectives (Robbins & Judge, 2007). This could have lead to a boost in morale and a high retention of employees. Through clear communication, brings on motivation and defines what is expected of them, if they are doing it well, and how they can improve what they are doing. The formation of specific goals, feedback on progress toward the goals, and reinforcement of desired behavior all stimulate motivation and require communication (Robbins & Judge, 2007). Upward communication could have been used in the form of surveys taken by employees. Kim would have known sooner what issues and concerns they were facing. These issues could have immediately been handled and employees could have remained focused on being productive and meeting company goals. As an entrepreneur, it was Kim's responsibility to search for opportunities and initiate projects that would present needed change. He instead took safe contracts from the government in power at the time. Kim could have looked within his own organization and collaborated with employees. These employees may have had network connections that could have led to other opportunities. Collaborating would have allowed for opinions of individuals with specialized training and skills to be heard. The direction of which the organization was going could have been addressed prior to its downfall. Kim could have acted as a disturbance handler by following the footsteps of other local companies during the Asian financial crisis. Samsung and LG recognized the importance to cut back during this crisis. Kim did understand the importance of conflict management. He attempted to uphold his role as negotiator. He attempted to resolve management/employee issues by teaching interpersonal skills to management. Kim tried to mend management and labor relations after two employees committed suicide. Employees became disruptive and had violent protests against years of long hours and low pay. He attempted to act as a leader and motivate and direct the employees by showing he listened to their complaints of long hours. Working on the assembly line, offered management an understanding of the problems workers face while on the assembly line. It helped raise and address the problems employees were facing. Recognition of the importance of developing managers' interpersonal skills is closely tied to the need for organizations to get keep high-performing employees (Robbins & Judge, 2007). Regardless of labor market conditions, outstanding employees are always in short supply (Penttila, 2006).
In conclusion, it is important for an organization to share with its group the importance of team communication, collaboration, and conflict management. They each play a significant role in developing a business into a successful corporation. A management team is needed to effectively communicate the corporation's objective and the employees' role in helping to meet it. Ultimately, recognizing and addressing issues that affect the work performance can save the company time and money.

References:
Robbins, S.P., & Judge, T.A. (2007). Organizational behavior (12th ed.).
C. Pentilla, "Hiring Hardships," Entrepreneur, October 2002, pp. 34-35.