...CASE OF LG GROUP: DEVELOPING TOMORROWS GLOBAL LEADERS There is no company which is resistant to environmental changes, especially business environment. As the year comes by, new inventions or innovation will absolutely give impact on every type of business in the world. However, the causes of the impact, in other words, the root of the changes in the environment is not merely coming from company external territory; in most cases the impacts (either negative or positive) can come from external territory and internal territory of the company. This written analysis focuses on the LG Group’s Chairman Koo who once stated and defined his vision for the LG group to develop and improve significantly and to be a leading company in its local market area (Korea) and the wider market scope, international market and increase its revenue significantly within 7 years period. This is known as “LEAP 2005”. Even though is not an easy task to do, he is much certain that the group can do that. He considers the past performance of the group and the major internal changes within the company will enable it to achieve what its chairman wants. The main key success, as the management agrees, lies on the future leaders of the group. There are several questions that arise as the result of the discussion between the management in relation with this key point, namely where and how to find these future leaders, what capabilities of competencies these leaders should possess how to develop these key competencies...
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...LG BUS650 LG Financial Analysis: The LG group The LG group is the largest global manufacturer of electronics. It is the third largest producer of mobile phones. It was begun in 1947 under the Lak Hui trading name. It was a cosmetics and trading concern (Lee, 2010). In the 1960s, the electronics division of the company, then named Goldstar, expanded into the current LG electronics. LG stood for Luk Hai Goldstar; it was changed to stand for Lucky Godlstar. Financial statement overview These statements in review constitute the financial position of the Korean Firm LG Electronics as of September 3oth 2012. The statements under review are those of financial position, cash flow, owner’s equity, and the relevant financial reports. The statements relate to the company and its subsidiaries, referred to as the group. The statements review the performance of the company in 2012 as contrasted with 2011.The first item that catches the eye in the financial statements is the decline in cash held by the group. This is in effect contrasted by the significant increase in trade receivables. This represents an unfavorable state of affairs because it predisposes the company to default on debts. It compensates for the ability to meet short-term obligations. Inventories held have decreased markedly as the prepaid tax also decreases (Baker, 2011). This represents a favorable shift because electronic goods are subject to steep depreciation curves. Holding fewer items in stock as compared to...
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...Comprehensive project synopsis Title of the project-Consumer analysis driven market analysis pursued by NOKIA,SAMSUNG and LG mobile phones. Abstract-In recent year,adoption of mobile phone devices dramatically increased so fast in india. Having a mobile phone,during 1990,in india considered as luxury. It was owned by rich class businessmen and officers. But reduction in service charges and cost of the handset made it ubiquituos throughout india. Now,Mobile phones have become a part of life of every indian people. It totally realized indian consumers’ hidden needs about to take care of business works and beloved ones. It unveiled other unsought needs likewise messaging,recreation,gaming,and surfing internet etc. due to the other benefits mobile phone s are no longer a device only to make a call but also for other stuffs. Nowadays mobile phones are purchased not only on the basis of its core benefit but also on the basis of its other multi featured facilities. Introduction-India has come in a close second in the sale of mobile phones in the year 2006.china has led the race of mobile sales being the heighest in the world. In India however,the GSM phones rule over the CDMA Handsets. Leading the categories are Nokia, SAMSUNG,LG,SONY Ericssion,MOTOROLA and blackberry. GSM handsets are more preferred over CDMA handsets because of its attribute of portability with every SIM cards. But only three major mobile phone manufacturing companies rule over Indian mobile phone device...
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...Nokia SWOT analysis (Barney, 1991). Internal analysis (Resource-based model) Strengths – Having the advanced technology over the competitors in the mobile phone industry – Decentralized company structure, innovative and creative employees and Charismatic strong leader, such as: Jorma Ollila. – The market leadership in the mobile industry. – Strong brand name and company image in the global market – Has its own manufacture and network. – Product innovation. – Economy of scale Weaknesses – Complacency and arrogance. – Few customized, operator-specific handsets. – Few alliances, company sticks to its standing in the market, do not want to cooperate with the operators. External analysis (Environmental models of competitive advantage) Opportunities – The emerging market in developing countries, such as China, India – The emerging market for high-end mobile phone such as business user phone. Threats – Facing more new competitors, especially from Asia. – Stronger buyer power from the network operators. – Lost market share – The market becomes saturatedong competition in mobile industry OPPORTUNITIES LG: its slowing...
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...` BANKING ACADEMY, HANOI BTEC HND IN BUSINESS (ACCOUNTING) ASSIGNMENT COVER SHEET | NAME OF LEADER | | REGISTRATION NO. | | UNIT TITLE | Unit 4: Marketing Principles | ASSIGNMENT TITLE | LG Electronics in Vietnam | ASSIGNMENT NO | 1 of 2 (Group Assignment) | NAME OF ASSESSOR | Ms. Doti Chee | SUBMISSION DEADLINE | November 2013 | ------------------------------------------------- ------------------------------------------------- I, __________________________ hereby confirm that this assignment is my own work and not copied or plagiarized from any source. I have referenced the sources from which information is obtained by me for this assignment. ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ________________________________ _________________________ ------------------------------------------------- ------------------------------------------------- Signature Date ------------------------------------------------- Serial No | Group member (Vietnamese Name) | Group member (English Name) | Class FO6 | Student no | Signature...
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...for cheating, plagiarism (copying) and unauthorised collusion with other students, or external consultants. 2. I am aware of the requirements covering style and layout standards as designated by my teacher/tutor. 3. For assessments other than those conducted in-class, I have retained a copy. I understand that uncollected assessments will be destroyed. Questions | Possible Marks | Actual Marks | | | | 1 | 10% | | Student’s signature: _________________________________ Date: Introduction of LG LG electronics which is called GoldStar at that time was founded by KOO IN-HWOI who was founder of LG corporation in 1st Oct 1958 at KOREA. At that time, radios were attracting interests as embodiments of civilization, bringing news of the world to their listeners. Mr. Koo thought, ‘we could make a radio by ourselves likes TOSHIBA, NATIONAL.’ So, he founded GoldStar. And finally, at 15th Nov 1959 they made the first Korean radio which is including more than 60% of domestic components. It was beginning of both LG electronics history and Korean electronic industry’s history. LG electronics started expanding their business to overseas by exporting radios to U.S at 29. Nov. 1962. LG electronics Singapore. Started business as the international purchasing office(IPO) in Singapore in October, 1989 for the first time in the Korean industry history. LG Electronics was able to purchase parts from the Singapore manufactures at lower...
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...http://www.researchandmarkets.com/reports/1874391/ LG Electronics Inc.: Company Profile and SWOT Analysis Description: Synopsis ICD Research's "LG Electronics Inc.: Company Profile and SWOT Analysis" contains in depth information and data about the company and its operations. The profile contains a company overview, business description, financial ratios, competitor benchmarking data, SWOT analysis, key facts, information on products and services, details of locations and subsidiaries, plus information on key news events affecting the company. Summary This SWOT analysis and company profile is a crucial resource for industry executives and anyone looking to gain a better understanding of the company's business. ICD Research's "LG Electronics Inc.: Company Profile and SWOT Analysis" report utilizes a wide range of primary and secondary sources, which are analyzed and presented in a consistent and easily accessible format. ICD Research strictly follows a standardized research methodology to ensure high levels of data quality and these characteristics guarantee a unique report. Scope - Examines and identifies key information and issues about LG Electronics Inc. for business intelligence requirements - Studies and presents the company's strengths, weaknesses, opportunities (growth potential) and threats (competition). Strategic and operational business information is objectively reported - Provides analysis on financial ratios along with a competitor benchmarking...
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...AN INNOVATION STRATEGY FOR LG ELECTRONICS Thanks to the continuous technological innovation of handsets, the rise of mobile phones has been nothing short of phenomenal and the trend is expected to continue in the years to come (Frost & Sullivan, 2006). Their continued success is down to the fact that today’s handsets have become much more than simply mobile phones. A mobile phone can function as a camera, PDA and has many other features such as gaming functions and access to the Internet. Based on 3G, broadband is also paving the way for video-telephony and TV viewing. Characterised by continuous change and innovation, the mobile phone industry then sets an exciting stage for devising an innovation strategy. Our focus will be on mobile phone manufacturer LG. LG Electronics, Inc. is in fact a consumer electronics company with two other business units (Digital Display & Media and Digital Appliances), besides the Handset unit we will focus on in our report. On a global scale, LG’s handset division is 5th in terms of market share based on handset revenue, behind Nokia, Motorola, Samsung, and Sony Ericsson (see Appendix 1). Despite not being in the ‘Big Four’, LG’s market position is that of a strong challenger considering the many other ‘me too’ competitors that exist (e.g. NEC, Sanyo), but who fail to register in consumers’ minds. LG’s achievement can be seen to be mainly due to the success of their ‘Black’ series with popular models such as ‘Chocolate’ and ‘Shine’. Industry...
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...LG Electronics Company Analysis Published: 23, March 2015 In this competitive business world marketing strategies is very important .They are several multinational company run their business over the world so the multinational company must use its own marketing strategies. This analysis describe the macro environment of the organization and its future decision making process. Globally the lot of business to achieve their goal by its own marketing strategies plan. Here the study tells about the LG Electronics and its future plan in the competitive market. LG Electronics is the one of well known multinational company in this world. This company delivery innovative digital product such as entertainment, games ,home media and home appliance to customer. LG Electronics funded in 1958 as Gold Star in Korea. In 1995 its renamed as LG. Its prior product is consumer TV, radio, refrigerator ,air conditioner and washing machine. LG electronic introduce some new technology to the digital world such as the first CDMA digital handset, 60 inch plasma TV. LG electronics have good corporate culture some of these "No excuse, We not I, Fun work place". LG brand comprised of four basic element value, benefits, promise and personality. This company set the long term goal and work towards the goal. The vision of the company is Global top three in 2010. LG controls 114 local subsidiaries all over the world . The are 82000 people work for this company. LG accept as true that technological innovation...
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...Chapter 4 Cash Flow and Financial Planning ( Instructor’s Resources Overview This chapter introduces the student to the financial planning process, with the emphasis on short-term (operating) financial planning and its two key components: cash planning and profit planning. Cash planning requires preparation of the cash budget, while profit planning involves preparation of a pro forma income statement and balance sheet. The text illustrates through example how these budgets and statements are developed. The weaknesses of the simplified approaches (judgmental and percent-of-sales methods) of pro forma statement preparation are outlined. The distinction between operating cash flow and free cash flow is presented and discussed. Current tax law regarding the depreciation of assets and the effect on cash flow are also described. The firm’s cash flow is analyzed through classification of sources and uses of cash. The student is guided in a step-by-step preparation of the statement of cash flows and the interpretation of this statement. This chapter ties in every person’s need to set goals, estimate income, and budget expenditures to the firm’s need to effectively engage in these activities. ( Answers to Review Questions 1. The first four classes of property specified by the MACRS system categorized by the length of the depreciation (recovery) period are called 3-, 5-, 7-, and 10-years property: |Recovery Period |Definition ...
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...LG Electronics’ Strategic Plan Analysis Greg McMillan TM583 Strategic Management of Technology Professor Woody Wu August 18, 2011 Introduction LG Electronics Inc. founded in 1958 and headquartered in Seoul, South Korea. The company is a major producer of consumer electronics and has over 70 subsidiaries that manufacture TVs, video and audio products, appliances, refrigerators, wireless phone handsets, air-conditioners, and communications devices. LG Electronics has annual revenue of about 23.8 trillion and employs about 66,600 people. LG Electronics’ mission is to be among the top five electronics brands in the Africa and the Middle East. This vision is simple and clear: venture into new markets and win the consumers by giving what they want. Capturing new markets and providing a strategic direction for all LG Electronics activities in the Middle East and Africa is the main target (Times of Oman, 2006). On the other side, many promising markets like Algeria, Sudan, Angola and some others whose economic power is growing strong are being neglected. LG Electronics is focusing again to regain those markets. The company will use a new marketing strategy such as using power retailers instead of using traditional channels of marketing like using dealers. Traditional dealers are losing their power whereas the power retailers are gaining market share like Carrefour (Times of Oman, 2006). The company is looking to achieve a turnover of $6 billion, to increase...
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...LG IN THE INDIAN COLOUR TELEVISION MARKET INTRODUCTION Ever since its inception in India 'LG India' has made an impressive beginning and has shown commendable progress on all parameters of keeping in touch with the market. This report aims to establish the factors included in the marketing plan of LG in India (in the colour television market) that has contributed to its rise to glory. This report begins by giving the origin and background of the company. Then the company and its environment have been studied. This includes the discussion of the PEST factors and Industry Analysis (Porter's Five Forces) followed by a SWOT Analysis. The next part involves the CSFS and competitive advantages followed by a discussion of the company's strategies. The last part then includes alternative strategic app and conclusion. BACKGROUND AND ASSUMPTIONS Origin The Lucky Group (now known as LG) has its origins dating late back to January 5, 1957 when founder Chairman Hwoi Koo had invested all his personal assets in its formation with great success isn many rounds of reinvestment by the late 1950s, Mr. Koo announced his intention to get into electronics after much painstaking research and planning the Goldstar Company (now known as LG Electronics) was founded on 1.10.1958. LG Electronics India Limited After being appointed one of the official sponsors of CTV kits for the Asian Games in New Delhi - 1982, LG disappeared for the next 12 years. Then in 1995 it came together...
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...A Project Report On “A Market Survey of Consumer Durables Product of Samsung Electronics Ltd” Submitted in Partial Fulfillment of the Award of Degree of Bachelor of Business Administration (BBA) 2007-2010 Project Guide Submitted By Mr.Jagat Jyoti Barua Vaibhav Bansal Lecturer,MAIMS Enrollment No. : 0411471707 BBA (Gen) VI Semester Sec A Maharaja Agrasen Institute of Management Studies Affiliated to Guru Gobind Singh Indraprastha University, Delhi PSP Area, Plot No.!, Sector 22, Rohini Delhi 110086 Student Declaration This is to certify that I have completed the Project titled “A Study Of Consumer Durable Market For Samsung Electronics Ltd” under the guidance of “Mr. Jagat Jyoti barua” in partial fulfillment for the requirement of the award of the degree of Bachelor of Business Administration at Maharaja Agrasen Institute of Management Studies, Delhi. This is an original piece of work and I have not submitted it earlier elsewhere. Vaibhav Bansal 0411471707 BBA (Gen) VI semester Sec A CERTIFICATE This is to certify Project titled “A Market Survey of Consumer Durables Product of Samsung Electronics Ltd” is an academic work done by “Vaibhav Bansal” submitted in the...
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...Distribution Project ➢ . A few words on the world’s best homemakers…… WIL was incorporated in 1960 by J R Desai in collaboration with Kelvinator International Corporation, USA. Later the company integrated backwards to manufacture electrical grade stampings used in motors, compressors, super enameled copper wire and other allied products. Electrolux, Sweden, the worldwide consumer durable giant has 12.5% stake in Whirlpool. Electrolux tried to increase its holding to 51%, however, the idea was stalled due to price disagreements. In 1995, WIL negotiated with Whirlpool Inc, US, another major player in the global white goods market, who was willing to buy a company at a higher price. The deal ultimately went to Whirlpool who invested $200mn mainly to acquire 51% in Desai family owned Kelvinator of India. They set up a Rs3.65bn Greenfield project in Pune to make frost-free fridges. The new management hived off the automotive and compressor divisions and amalgamated WIL with Whirlpool Washing Machines Ltd and Expo Machinery Ltd in 1996. Later in 1997 Whirlpool Financial India Private Ltd was merged with WIL. Subsequently Whirlpool Inc increased its stake to 82.3% in the Indian arm. Whirlpool Inc, US are the world's leading manufacturer and marketer of major home appliances. The company has principal manufacturing operations and marketing activities in North and South America, Europe, and Asia. Whirlpool's primary brand names - Kitchen Aid, Roper, Bauknecht, Ignis, Brastemp...
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...1.0 Introduction of LG Electronics Inc. LG Electronics Inc. is a South Korea multinational electronics company which is also known as the global leader and technology innovator in consumer electronics. The LG Company was a merger of two Korean companies, Lucky and Goldstar, from which the “LG” abbreviation was derived. (Mariush,2012) The company’s headquarter is located in Yeouido-dong, Seoul and the flagship subsidiary of the LG Group. LG has a global sales of KRW (Korean Won) 54.26 trillion which is equal to USD 49 billion in the year 2011. The company operates its business with four business units: mobile communication, air conditioning & energy solution, home entertainment and home appliance. (LG, 2012) It has 75 subsidiaries operates around the world that design and manufacture its products. LG is the world’s second largest flat screen television-set maker after Samsung Electronics Co. (Lee, 2012) Home Entertainment The LG Electronics which is also known as the top global players in home entertainment produces flat panel displays, audio players, video products, monitors, commercial displays and security systems for the consumers and also the commercial markets. LG is not only focusing on creating full-features devices but it is also emphasizing on following the technology boundaries to improve the products. Mobile Communication LG has committed to provide the best ever user experience to expand the next generation of communication by inventing new technologies...
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