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History of company:
The company was originally established in 1958 as Gold Star, producing
radios, TVs, refrigerators, washing machines, and air conditioners.
1958-1969-GoldStar The Electronics Industry Dream
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1970-79 GoldStar symbol of The Technolgoy
1980-88 :- INTERNATIONALIZATION
1989-94 INOVATION
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1995-98 GLOBAL LEADERS LG ELECTRONICS
1999-2003-DIGITAL MANAGEMENT
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2004-2006 GREAT PEOPLE GREAT DESIGN
2007-THE PEOPLE COMPANY
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The LG Group was a merger of two Korean companies, Lucky and Gold
Star, from which the abbreviation of LG was derived. The current "Life's
good" slogan is a backronym. Before the corporate Name change to LG,
household products were sold under the Brand name of Lucky, while
electronic products were sold under the brand name of Gold Star. The GoldStar brand is still perceived as a discount brand.In 1995, Gold Star was renamed LG Electronics, and acquired Zenith
Electronics of the United States.
VISIONGlobal Top 3 by 2010
Global Top 3 Electronic/Telecommunication company
GROWTH STRATEGYFast innovation, Fast growth
CORE COMPETENCY
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Product leadership, Market leadership, People leadership
CORPORATE CULTURENo excuse, we not I, Fun workplace
SLOGAN
"Life's Good" represents LG's determination to provide delightfully
smart products that will make your life good.
The LG Electronics Life's Good signature consists of the LG logo,seal, and the slogan, "Life's Good" set in Charlotte sans typefacecurved around the LG symbol. The curving of the slogan reinforces LG'spersonality and uniqueness. The consistent usage of this signature clearly
establishes the unique identity of the company and unifies every division
and product from LG Electronics across the globe.
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THE SYMBOL
The symbol of LG is the face of future. The letter L and G in a circle
symbolizes world, future, youth, humanity & technology. LG philosophy is
based on humanity. It also represents LGs efforts to keep close relationship
with our customers around the world.The symbol consists of two elements.1. The logo in LG gray
2. The stylized image of human face in the unique LG red color.
Red color represents our friendliness and gives a strong impression of LGs
commitment to deliver the best.The circle symbolizes The Globe. The stylized image of a smiling face in
the symbol conveys Friendliness and Approachability.
The one eye on the symbol represents Goal-oriented, Focused &Confident.
The slogan of LG is Lifes Good. It expresses Brands Value , Promises,
Benefits , Personality .
LG BRAND IDENTITY:-
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The brand of LG is delightfully smart. LG strives to enhance the customers
life and lifestyle with intelligent features, institutive functionality and
exceptional performance.
The brand platform:-The LG brand is composed of four basic elements 1. Value2. Promise3. Benefits
4. PersonalityThe Brands core Value that never changes.
a. Trust,b. Innovation,c. Peopled. Passion
The benefits that are consistently delivered to the customer includes
a) Reliable productsb) Simple designc) Ease of use
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d) Extraordinary Experience
Personality describes the human characteristic that are expressed to the
customer throughTrustworthy, ConsideratePractical, Friendly
The Internal Culture of LG:
LG practices four cultures1. Learning Culture2. Boundary less Environment3. A Carrier4. Growth
According to LG, the Learning Culture continuously helps the employee to
learn more and more to develop the habit of continuous learning.
Boundary less Environment means that there is no difference between the
levels of employees. There is transparency between the work and mutual
understanding between all the employees.
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A carrier is highly growing in LG and one who is the employee can
develop their carrier largely. A new comer will feel fully comfortable in the
company and for a new comer the company is very helpful in the overall
growth of personality.
Growth in LG is very high for those who are in the company and for those
who want to join in LG. The company is growing with fast innovation and
the BLUE Ocean strategy is one of the examples of growth.
MissionThe mission of LG is to provide the customers with utmost satisfaction
through leadership. The fundamental policy of development is to secure
product leadership that the Customers may have the utmost satisfaction.Product Leadership
We are focusing on six development areas to become the product leader.1. New Machine2. Reliability3. Conventional Installation4. Environment Friendly Product5. Low Noise & Vibration6. Energy Saving
Quality Innovation
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The policy of quality assurance is to provide customers with utmost
satisfaction by supplying zero defects.
LG proceeds in a hierarchal manner. It is named as LG WAY.
From top to bottom:
No.1 LG is the VISION
Jeong-DO Management is LGs unique application to ethics. LG willsucceed through fair management practices and constantly developing our
business skill.
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A) Honest with our customerb) Providing great values to customer through constant
innovation & and development.
c) Equal opportunitiesd) Equal Treatment
Management Principle - Creating value for customer
Code of conduct of LG
1. Responsibility and obligations to customers : Respect for Customers
Creating Value Providing Value
2. Fair competition Pursuit of Free Competition Compliance with Laws and Regulations
3. Fair Transaction : Equal Opportunity Fair Transaction Procedure Support and Aid for Business Partners
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4. Basic Ethics for Employees Basic Ethics
Completion of Duty Self Development Fairness in Performance Avoidance of conflict with company interest
5. Corporate Responsibilities to employees Respect for human dignity Fair Treatment Promoting Creativity
6. Responsibilities to society and country Rational Business Development Protection of stock holder interest Contribution to social development Environmental Conservation