Entrepreneur + Explorer = Entreplorers

#14 20501036

2008-06-13T13:06:00.000-07:00

Public service idea can be a business opportunity!

Summery -

Surviving in the saturated market is very difficult, if you don’t have competitively superior area on your business or idea.
In the article, however, he, the owner of the restaurant, makes remarkable success only with his idea. Actually the idea originally comes from social movement. The reason of movement was to create employment opportunities for blind and visually impaired people, and the first venture, the blindekuh in Zurich, opened in 1999 and is claimed to be the world’s first dark restaurant. Since then, the restaurant concept has been subsequently replicated elsewhere, including Paris, Berlin, London and multiple cities in Canada, United States, Russia and Australia, also in China. However, this dark restaurant (Whale Inside Dark Restaurant - Jujingdu Hei'an Canting; literally big whale stomach dark restaurant) in the central business district's funky Jianwai Soho complex, does not hire a blind people. He just thinks about the business, he took only the concept – meal in the darkness.

How he made success?

Right target and understanding of target market
Founder of the restaurant, he was not a person actually start this business. It was started by European country and they start it to get an experience suffering of disable people and give opportunity of work to the blind people . However, as he targets the young professionals who are willing to pay for special event, it would not be succeed when he just copy what European do, because Chinese relatively less interested in critical mind toward disable people.

As a business model to making a benefit, dark restaurants in china hired employee who has experience but who are not blind. So, when they serve the customer, they use night vision goggles so they can give a service in the darkness.
Conversion of idea and modification for targeted market can bring an opportunity to create new niche market.

http://spanish.hanban.edu.cn/english/China/195370.htm

http://events.nytimes.com/2007/07/22/travel/22surfacing.html

Entry #14 20300156

2008-06-13T05:22:00.000-07:00

Companies keep cool on the cheap

June 11, 2008

Korean Air employees at company headquarters in central Seoul ditch their neckties to keep cooler without cranking up the air-conditioning as a part of a campaign to reduce energy costs due to the recent surge in fuel prices. Provided by the company

Every drop of oil means big money as surging energy costs hit local companies. Besides taking drastic measures, including suspending business operations and cutting airline routes to compensate for energy-related losses, companies are taking small but effective steps to reduce energy spending altogether.

Because wearing a necktie is said to keep a man’s body temperature 2 degrees higher, employees at Korean Air, the nation’s flagship carrier, are taking off their ties to save energy. The company announced that from yesterday until Aug. 31, all employees are encouraged to leave their neckties at home, except for employees like flight attendants, who must wear them for service reasons. Through the move, the company hopes to save on air-conditioning costs.

The Lotte Group is following suit. Lotte Mart and Lotte Department Store have both launched “Cool Biz” campaigns in which employees are encouraged to ditch their ties. Also, Lotte Department Store’s main branch in central Seoul has switched its energy operating system to include inverters, which are more energy-efficient.

“We plan to switch all energy operating systems in our 24 department stores to this new system by the end of the year,” said Oh Yong-suk, public relations manager for Lotte Department Store. “We can save an estimated 2.3 billion won [$2.2 billion] on energy per year if we use this new system in all our branches,” he added. Discount store Lotte Mart is raising its air-conditioning temperature by 1 to 2 degrees in all its branches as well as lowering its lighting wattage to save on energy.

Shinsegae Department Store and its affiliate discount store E-Mart also announced an ongoing “Energy Diet” campaign earlier this year. Temperature-control equipment in all offices and stores will be replaced to include fuel-efficient inverters and chiller control systems, through which sensors keep indoor temperatures at an optimal level. The company plans to invest 2.5 billion won in the program. Signs and advertisements will be lit for a few hours less every day. “In the short term, we are expecting to save money on energy but in the long run, we see this as our environmental campaign to reduce greenhouse gas emissions and unnecessary energy spending,” said Yun Myeong-gu, director of the business ethics division at Shinsegae.

Convenience stores, which are open 24 hours, are joining the trend. The GS25 chain is also raising stores’ temperature by 1 to 2 degrees this summer and turning off unnecessary signs. To save energy used by refrigerated shelves, the company inserted “air curtains” to keep in the cool and put up deeper shelves so that products stay closer to the refrigerators. A “Transportation Management System,” which keeps delivery routes from suppliers to stores as short as possible, was implemented to save on fuel.

I thought the best important of business strategy is maybe making low cost. This policy is so interesting strategy and i thought it can cause increase effiency of working of employees. High price of oil made many policies of companies. There were so many bad effects. However, in other side aspect, there were good effects for naturl environment. For slow global warming, human should reduce oil consuming. I recomend that many company should change the think of this situation to positive -making 'Air curtain' is good idea for small company. If they did, they can make one more step than other competitors.

http://www.joongangdaily.joins.com

# 14 Entry_ 20500297

2008-06-12T22:01:00.000-07:00

'The Escalator Pitch'

Veteran entreplreneurs and financiers have long understood

the need for succinct pitches.

Enter the Twitpitch. It's not what you think.

I. Have you heard Escalator Pitch?
Professor Lee once mentioned about 'elevator pitch' in class. I don't exactly remember whether it was in Marketing class or Business strategy class, but for me it was quite impressive. Escalator pitch is like elevator pitch, something you can say in 10 seconds while he's going up the escalator and you're going down the escalaror. Then what makes a good escalator pitch? Principal of FutureWorks PR says "brevity and relevance." It's about focus and precision, and it needs to be aligned and presented in a way that reflects who you write to and why it's beneficial to your readers. Sergey Brin and Larry page, two top Google guys, were good at this, explaining their business as 'access to the world's information in one click', which made investors understand Google's vision right away and willing to hear some more about it. With only 8 words!

　　　　　　　　　　

　　　　　　　　　　
II. Products? IDEA!
Svetlana Gladkova, co-founder of Boyd, says that when you are actually talking about your product, it's your IDEA. "You will find the words, and if you can't, it may be a sign that your product is not distinct from compeititors." (quoted) Small, and unknown startups need to think of escalator pitches as their foundations for their brands. Introducing your business in a very short, but strong sentence is the key of attracting investors and customers interest. The real value is not how many sentences you say, but it's rather about how effective, how strong, and how impressive you are and what you say.
　　　　　　　　　　
　　　　　　　　　　

III. Personal Opinions
Business Strategy class was such a challenge for me. There were too many concepts to know, and this business world is more complicated than I expected. However, one thing I completely figured out is that how you approach to your customers is significant. As this article says, effective expression of your business or product like either elevator pitch or escalator pitch changes a foundation of your brand. You should have a short, strong, effective, precise, impressive, and powerful message to deliver your vision, mission, and commitment to your investors and customers. We have a tendency to neglect small things, but sometimes people are touched by a very little thing, like a note saying 'cheer up' or even just saying 'hi' with a big smile on your face. It can change your image and also the image of your company. Among lots of elements that you need to consider as you start your business, specific expression strategy that is able to convey what you really want to say should not be excepted.

　　　　　　　　　　
Both in Marketing class and Business Strategy class, professor Lee emphasized "differentiation" and "innovation". Being distinct from other competitiors, being more speicific from other competitors, and being more special and innovative than other competitors will make you succeed in any business. :)
　　　　　　　　　　　　　　　　　　　　
Annotaion: John Tozzi, The Escalator Pitch, Journal (Businessweek.com), May 16 2008

　　　　　　　　　　　　　　　　　　　　　　　　　　　　　Last entry (#14) by 20500297

Entry #13 20300156

2008-06-06T04:49:00.000-07:00

Stars get in early on product design

Putting aside their mikes for a moment, the Wonder Girls, a popular Korean girl group, are showing off their creative streaks.The girls helped design the INNOWo MP3 player, which the companyInno GDN put on sale Tuesday at three online shopping malls. Commentingon the player, which is emblazoned with crowns, lips and stars, Kim Yeong-se, head of Inno GDN, said, “We wanted to make an MP3 player for teenagers and thought of the Wonder Girls.” He said the company did not alter the singers’ sketches and that in one day, the online shops attractedover 100 orders.Instead of settling on using celebrities as the face of their advertisements, companies are now letting them take a more hands-on approach and hiring them from the design process.

The fashion industry in particular is keen on this tactic with a tendency among the younger generation to follow styling decisions made by celebrities.Actresses and jeans seem to be one of the hit equations for this trend.Three online shopping malls this year showcased jeans that were designed in collaboration with local celebrities. Local online shopping mall Wizwid showcased limited edition jeans, which were designed jointly by American jeans brand James Jeans and Korean actress Han Ye-seul.

SK Telecom’s shopping mall, 11st, showcased jeans that were a collaboration between another American jeans company, True Religion, and actress Jeon Ji-hyeon.Another online site, Interpark, had actress Kim Ha-neul designing for the French premium jeans brand, Taverniti So Jeans. The trend of celebritydesig ed jeans started last year when actress Kim A-jung designed the “A-Star Jean with Kim A-jung” for Guess and racked up sales of 6 billion won ($5.9 million) in six months.Luxury brands are no exception.

French handbag brand Longchamp initially hired Kate Moss as its spokeswoman, which led to Moss collaborating with Longchamp on its Legend Line with success. Also, French luxury brand Celine showcased the Song Hye-gyo for Celine bag, which the actress designed, and sold them as limited editions.Even though firms are now enjoying strong business with these collaborativeprojects with celebrities, some say the items are merely a “promotion show” with the products reflecting minimum celebrity input. “Many of these items have already been designed before the celebrity gets to see it.Oftentimes the companies just tack on the celebrity name after making the product,” said a fashion industry source.

Lim Mi-jin JoongAng Ilbo/ Cho Jae-eun Staff Reporter [jainnie@joongang.co.kr]

If you know who you are and who is your target or aim, at least you must not fail. It is not easy to know that consumer’s preference. However, if the consumer made product what whose want, it could be strong effect to consumer’s preference. Also, if the product was made by consumer who is super star, its effect would be more powerful to other consumers.

http://www.joongangdaily.joins.com

Entry 13. 20501036

2008-06-05T16:53:00.000-07:00

LG Wears Prada!

In the movie, Devil wears Prada, they represents women fanaticize on fancy and luxurious clothes or items. But the notion is not only limited on fashion business but also electronic goods industry too.

When we look back on the past time, company who wanted to get a better brand image, they usually lunch a new brand like Lexus of Toyota, Zipel of Samsung electronics’ refrigerator brand, Pavv in Samsung’s PDP TV brand. However, lunching new brand only to get separated brand perception with the original brand takes a lot of cost. So electricity companies find better and easier way to improve their brand image. That was joint venture with another company's brand which has power. Also there is couple of types of joint venture.

First, only borrow their brand name.

LG-IBM was the case. It produced by LG but they use IBM logo. Another case is Samsung Home plus. Tesco owning more than 94% of home plus. Tesco barrowed Samsung’s brand image (so they could reduce anti-foreign company mood).

Second, Use other luxury fashion designers brand’s design and reputation.

The reason they borrow other designers clothes brands' is the trend changes rapidly and build their own company for target need a lot of cost and risk. Because of The mobile market become like fashion market, customer became more consider about brand and design; of course, function would be the priority reason when they choose electronic goods. However, it is hard to compare which one has better performance, because they contain a lot of function in one product nowadays. Also people became less sensitive on the price. Prada phone, LG and Prada design and promote together, became one of most successes item in LG’s history with 800,000 cumulative sales even though it price over 700 ERUO.

Benefit of designers brands

Prada can be number one brand power Handbag Company but it’s almost impossible to be a top sales company, because they do not mess produce. They even use demarketing to keep the brand value. However, when they met LG, because of its characteristic as electricity, they could make win-win situation.

Other examples: Samsung-Armani phone and TV, Swarovski-Phillips USB drive, ASUS-Laborghini notebook computer

Beware

While many fashion brands making profit from licensing with other company, some company lose their brand value because of imprudent licensing like Pierre Cardin, Yves saint Laurent and Christian Dior.

http://news.naver.com/main/read.nhn?mode=LSD&mid=sec&sid1=101&oid=001&aid=0002087133
http://bizi.tistory.com/entry/pradaphone-5
http://news.mk.co.kr/outside/view.php?year=2008&no=234297
http://www.hankyung.com/news/app/newsview.php?aid=2008060483931&sid=01040201&nid=000&ltype=1
http://news.chosun.com/site/data/html_dir/2008/05/23/2008052300843.html

* Sources are just reference. This article worked by me.

Entry #13_ St. ID: 20500297

2008-06-02T20:42:00.000-07:00

Power of Positioning*

How to distinguish yourself from the competition

to be sure you have a preferred place in your target customer's mind-

I. Positioning? Distinguising!

Many companies have difficulty in positioning. Positioning is very significant step in business because through this, the market would recognize your company, buy products from your company, and decide whether to maintain a relationship with your company. This acticle emphasizes the importance of positioning, defined as "the process of distinguishing yourself from competitors in specific ways in order to be the preferred provider for certain market segment." It's more like act of designing company's offer and image so that it can occupy a valued place in the targeted customer's mind.

The main benefit of clear positioning; it controls how the market perceives you and helps make your products and/or service more attractive.
　　　　　　　　　　　　　　　　　　　　

II. 5 Steps to improving positioning

1) Assess where you are right now: This is the first step of right positioning. You may ask your customers, or even competitiors and journalists how they describe your company, products, and overall images. Knwoing yourself is always the first thing to get finished in order to make some change.

2) Determing how you want to be perceived: It's an intentional act, the author says. Once you get to know where your company is, then you need to decide how you want to be thought of by your customers. Think of meaningful differences between you and your competitors.

3) Select your target customer: We usually define 'target customers' as anyone willing to buy that people sell. However, it's not true. You need to craft a strategy taking into account there questions: "How do those people choose among vendors?", "How does your target market define value?"... Focus on 'HOW' rather than 'WHAT'!

4) Factor in current trends: Figure out trends that are on the way that might tie in with your company. Which should you distance yourself from?

5) Formulate your four levels: "Your business objective drives your business strategy which drives your market strategy which drives your positioning strategy." If your business objective is to have fewer customers who spend more per sale, your business strategy must reflect this in the products or services you will be offering. Your market strategy will consist of how to find those new customers and how to communicate with them. Your positioning strategy will determine the messages you communicate to your target customer to drive sales of your more costly product line. (quoted) You're not happy with how people perceive your company? Or do you want to stretch to the next level? Then that's the time of REPOTISIONING!
　　　　　　　　　　　　　　　　　　　　

III. Personal Opinions

STP ANALYSIS*

Most of us have already heard of STP analysis. STP stands for segmentation, targeting, and positioning. All these three steps are important and need to be considered thoroughly, but probably positioning step is especially significant because it's the step where you can finally define your company's BRAND image and where you actually approach to your real customers. More importantly, positioning of products or brands in the CONSUMER'S MIND determines whether you would be able to maintain your relationship with them. Firms position their products and services according to several criteria, such as offering's value, (customers get a lot for what the product or service costs), symbols, or important attributes.

　　　　　　　　　　　　　　　　　　　　
As I have started studying business strategy since the beginning of this semester, I found out that reading consumer's mind is a key thing of success in business. It's like ALWAYS. You should, even more 'must' know what consumers want and need. It's interesting that business objectives, business strategy, market strategy, and positioning strategy are all inter-related, which means that how you start determines your end.
　　　　　　　　　　　　　　　　　　　　

Annotation: Christine Comaford-Lynch, The Power of Positioning, Journal (Businessweek.com) June 2, 2008

Entry #12 20300156

2008-05-30T04:27:00.000-07:00

Hyundai Heavy eyes financials
May 29, 2008

Hyundai Heavy Industries Company, Korea’s third-biggest company by market value, is in talks to acquire holdings in two units of the CJ Group to manage assets and offer ship financing.“We are in detailed talks to buy stakes in CJ Investment and Securities Company and CJ Asset Management Company and will make an announcement when details are finalized,’’ the Ulsan-based shipbuilder said in a filing yesterday. The stakes are worth about 800 billion won ($770 million), the Korea Economic Daily reported yesterday, citing unidentified industry officials. Hyundai Heavy, the world’s biggest shipyard, and units Hyundai Mipo Dockyard Company and Hyundai Samho Heavy Industries Company have combined cash assets of about 6 trillion won, and are slated to report record earnings for a fourth year. The acquisition would allow Hyundai Heavy to fund expansions and help customers finance costlier ships, said analyst Lee Jae Kyu.“Hyundai Heavy may be interested in buying the financial companies to manage its abundant cash,’’ said Lee, who rates Hyundai Heavy a “buy’’ at Mirae Asset Securities Company in Seoul. The acquisition would be the first for Hyundai Heavy since 2002 when it bought rival Hyundai Samho Heavy for 100 billion won. Hyundai Heavy plans to seek board approval for the purchase tomorrow, the Korea Economic Daily said.Hyundai Heavy would be the latest entrant to the country’s 44.6 trillion won brokerage industry after regulators lifted entry barriers last year to increase competition. Hyundai Motor Company, Korea’s largest automaker, and its affiliates bought 30 percent of Shinheung Securities Company in March, which was renamed Hyundai IB Securities Company. Bloomberg

http://www.joongangdaily.joins.com

Entry#12 20501036

2008-05-30T04:12:00.000-07:00

Wii, show us how much you love us!

It’s been a month after the first release of nintendo's new production Wii.
Nintendo launched it, in Korea, last month. This video game console was rumored to hit the Korean market in the winter, but Nintendo Korea delayed the release because localizing the software took longer than anticipated. Unlike its competitors, Wii is targeting a wider audience with its unique system. Wii is targeting women and older generations. Compare with the competing platforms like x-box 360, ps3 require only movement of the fingers, Wii games focus more on a user’s physical participation.

However, Nintendo now facing troubles. The total sales volume until now was less impressive then they expected and extending market rate was too slow. The reason was lack of compatibility of game titles which they used to use on ‘Game cube’ – Nintendo’s previous model. Also they claimed that lack of the number of title which has translated in Korean. Moreover, adding region-specific features make Korean gamers offended.

Are you doubt on me??

There’s a bitter love story between Nintendo and Korean gamers. While Nintendo DS were showing it’s out performance on the market sales, they tried to prevail on America to apply section 301 of the 1974 trade act on Korea meanwhile because they (Nintendo) thought that Korea has responsibility of epidemic of illegally copied game title. Well, it was work like that way but Korean gamers deeply wounded from Nintendo’s treat.
When I saw the decision they made (adding regional code), I realize that Nintendo still regard Korean gamers as a hindrance for introduce new product. Well, I think there’s the answer for the question why their market growth rate is slow!

- Korean can not play this game until Nintendo complet the translation.

- Wrong perception -
Korean Nintendo users might be hinder for their game software sales. However, they are the 'Early-adaptors'.
When we define ‘Adaption’ as the process by which a new idea or new product is accepted by the market, Early-adaptors are the people who accept and try new production in the early stage. Most of them are young and have knowledge about latest technology but have not enough money to buy every single new production but enjoy introducing new product and technology to the potential customers. In order to their work through the critics, they actually create followers market.

The video game market in Korea has seen high growth in recent years. Sony Computer Entertainment Korea estimated in January that the market, which was worth 136.5 billion won ($139.9 million) in 2006, doubled to 323 billion won last year. Sony forecasts that the market could grow to 700 billion won this year.

Nintendo made out performance with Nintendo DS, last year. However, it does not mean that they will make success. Now the early adopters group is dissatisfied and angered because of Nintendo’s policy. Yet, there’s no anti-Nintendo mood but the policy will drag down its brand power and will be suffered increase market share.

Why don't you develop anti-copy system? Why don't you allow some space until the early adopter boast your product so make them lead the market?

http://media.daum.net/digital/game/view.html?cateid=1051&newsid=20080528110412470&cp=donga

http://gamedonga.co.kr/gamenews/gamenewsview.asp?sendgamenews=28326

20501036

Entry #12_ St. ID: 20500297

2008-05-30T03:58:00.000-07:00

How to stand out? Try AUTHENTICITY

Take a cue from Starbucks and Anthropologie and get to know your

customers on an intimate basis.

That's the only way to cut through the noise.

* "Different" is no longer a differentiator!

We have been emphasized that being different from other competitior is very significant since differentiation can bring you competitive advantages that only you can have. Many presidents, CEO, and vice-president of markeing are trying to find ways to differentiate their companies in a certain marketplace and that's the reality. However, the author of this article Sohrab Vossoughi says that 'Different is no longer a differentiator.' Then what is a differentiator, we would ask. His answer is 'creating an anthentic relationship with customers."

* Summary of this article

1) Step back and consider your brand

You need to take a step back before introducing just another product. You'd better decide who's your TRUE tribe and what makes the most sense for those customers and your company. Before introducing a new product, you usually think of design. Yes, design is important but beautifully designed product is just an object. Push the pause button, dig deeper, and reconsider what it would take to make your customers truly love who you are as a brand.

2) Customers crave personal service

Without intimate personal service, customers cannot fully trust your company and products. You need to understand the culture and what people believe in to develop a deep relationship with your customers. As everyone wants to be with someone else, customers are still craving intimacy and you should be that someone for your customer.

3) The art of the authentic relationship

There's a store for women's clothing called Anthropologies. The article says that this store has made an art of the authentic relationship. It has dug deep into the subtietities and nuances of the psychographic profile of a specific type of 30-something married woman. Authropologies found out what these women really need and want, even considered their kids. Simply put, they have a 'connection' with their customers. And guess what? They don't actually advertise.

* Personal Opinions :)

What changes customers' minds: Authentic relationship
Developing a relationship with other can be easy, but maintaining it is a problem. When I think of people around me, it was not that difficult to develop friendship but there are only few people that I consider as "TRUE" friends of mine. Those whom I think as my true friends, I can trust them no matter what even if they disappoint me somehow because it's not just normal friendship, but authentic, true, and real friendship.

Like that, in business, authentic relationship is not the kind of relationship that lasts for only one season or that comes on suddenly because your product is cheaper or nicely designed compared to other companies' products. It's something that others can do, too. Beyond that, you need to build authentic relationship with your customers, which is the kind of relationship that allows for mistakes and creates a bond of loyalty. Besides, this relationship doesn't mean that you can rest on your laurels. Based on authentic bond with your customer, you should be willing to REINVENT yourself as both tour company and your customers evolve since everything changes.

Think of Jesus Christ. How did he change his disciples? I mean how is he influencing your life and actually changing it? By giving you what you want? Or by making your dreams come true? He may. But Isn't it true relatinoship between you and God that really touches your mind and motivates you to change?

Annotaion: Sohrab Vossoughi, How to stand out? Try Authenticity, Businessweek Journal. May 28, 2008 / http://www.businessweek.com/innovate/content/may2008/id20080528_503953.htm

Entry #11 20300156

2008-05-23T06:08:00.000-07:00

After rat incident, you can call Nongshim boss direct
May 23, 2008

Do you remember this incident shocked to whole society even other countries?

Nongshim chairman Sun Wook and other executives are personally answering complaint calls to the company.The food company suffered a public relations crisis in March when a customer supposedly found a rat’s head in a pack of shrimp crackers, a popular snack.Around 20 executives, including Sun, will take turns answering customer calls for two hours each day. This “hotline” will go on indefinitely, the company said. “We wanted to do something substantial to let our customers know we are looking at revamping our structure to avoid anymore safety accidents,” Sun said.

The company yesterday started its “Customer Satisfaction Campaign,” which will run through September. During this period, Nongshim will deliver its food to low income areas for free, and the company will promote its new shrimp crackers, which will be made in factories with upgraded safety procedures.

The company invested 30 billion won ($28.7 million) in safety measures. Nongshim will also start research and development on new snacks and hold an exhibition in September featuring snacks they think people will eat 100 years from now. “We want this campaign to be more than a one-time event. We will invest more in our factories in Korea as well as China,” Sun said.

By Cho Jae-eun Staff Reporter [jainnie@joongang.co.kr]

A few months ago from now, whole korean shocked by a snack 'Sae Woo Ggang'. Because of this incident, the company Nongshim's image and value decline so far. So Nongshim introduce a policy making hotline for customer. I thought, however, the policy cannot restore for ‘Old Nongshim’ easily. That’s why consumers already shocked and felt a sense of betrayal. Not wood, it’s food. Nongshim must introduce more good policies.

http://www.joongangdaily.com

Entre #11 Growing market - 20501036

2008-05-23T00:31:00.000-07:00

A man does not need many items to live their life but woman need more than hundred just for living.

Active careers and increasing purchasing power have made women emerge as trend leaders in the consumer market.

According to a report the Hyundai Research Institute ‘companies that win over women conquer the market' because women make 90 percent of all purchasing decisions in Korea. It is not only true for single women, who spend their earnings on premium-brand clothing, financial investments and leisure activities. But also married house wives too. Even they go for shopping with her family women make most of the choice from grocery to clothing for her family.

Finance, IT, automobile and alcohol companies in turn have begun to target women. Well, it’s not totally new story its market have grown.

In alcohol market, back in 1995, only 15.3 percent of women drank, because there was a stereotype for woman drinking. But in 2006, this rate increased by almost fourfold to 61.2 percent. With this trend, alcohol companies are lowering alcohol content and touting “well-being” qualities in their products.

Opinion -

Actually, I think the trends right now are being led by women from well-being trend, designers clothing boom and even in whit goods market, they try to get more beauty so sometimes company put some pictures from famous painter masterpiece to fit women’s perception.

Than what should we do and shouldn't do to get the market?

First, Korean companies often make mistake which comes from their stereotypes. However, as we have seen above, women is not a minority group anymore. They are leading the market and trends. So The company should get over the stereotypes within them.

Second, target the married women. In Korea, they often being ignored but even they yielded and gave up some of their needs, still women want to keep their beauty.

Third, There's no single market only for men or women. Women are smoking, drinking and driving too. Moreover, some women interested in combat sport like K-1. So companies have to get away from thinking that there is one marketing strategy for women. They should make market segment sharply without prejudice before build strategy.

http://joongangdaily.joins.com/article/view.asp?aid=2890107

# 11 Entry : 20500297

2008-05-21T06:02:00.000-07:00

Oprah's Favorite 'Favorite thing'

* Mini Case Presentation
Today our team and team Shasta gave a presentation about Oprah Winfrey's business, 'Harpo production.' While I was preparing for this presentation, I learned why Oprah and her business became successful. She has something that other people don't. Through this article, I want to talk about more about Oprah and her 'favorite thing' which made her 'differentiated'. The author basically talks about Oprah's "gift of appreciation.'

* Summary of the article

Considered as an inspiring leader, Oprah said that while material things are nice, the greatest gift you can give a person is to communicate how you FEEL about them. Oprah is a type of "caring mentor" who is honest, caring, and generous do the best job in motivating employees to deliver great customer service and therefore increase customer loyalty. It is important that you give employees local fame. Actually, there are only few people who trully want to be famous. However, they want to be famous and accepted in their local community, such as in family, school, and workplace. As Oprah does in her show, praising individual person specifically can give people local fame. Another thing you need to know is that you'd better not be stingy with praise. Whenever you watch Oprah Winfrey show, you can notice that Oprah always shows her appreciation and expresses praise to both guests and audience. 'When people receive genuine praise, their doubt diminishes and their spirits soar,' Oprah suggests.

My thoughts & Feelings
As we all know, Oprah had a very hard time in her childhood. Her parents got divorced and the environment was not helpful. (You may know what I'm talking about.) It was just too difficult for her to have a positive attitude toward her life. She was a type of girl in a minority society. However, that's just her past. Overcoming those obstacles, she become the most influential, powerful, and richest woman in the world. Without any future plan, Harpo production will fail after Oprah retires since Harpo production is based on Oprah's reputation and power. What made her take this position, then? Her optimism? Speech skill? Out-going characteristic? These could be right, but most importantly, as the author say, Oprah's attitude of showing appreciation is one of significant keys to her success. In these days, many business leaders are lack of caring, especially those Korean leader since Koreans usually feel uncomfortable with expression. In order to be an inspiring leader like Oprah, we should learn to express our true feelings - appreciation. Expressing appreciation is not a job of employees only. The reason why people are touched by Oprah and her show is because Oprah tries to understand thier feeligns, share them together, and show her appreciation.

Annotaion: Carmine Gallo, Oprah's Favorite 'Favorite thing, Journal, December 14, 2007
URL: http://www.businessweek.com/smallbiz/content/dec2007/sb20071214_702526.htm?chan=search

Entry 11, 20500297

Entry 10. Nintendo

2008-05-16T07:36:00.000-07:00

How do you make them grow up?

Koreans used to have strong stereotype forward to what they are entertaining. For the people who has this kinds of fixed idea think that people who entertaining with comics or games (both consol game and computer game) are immature.

Well, if someone talk like that, they are probably older generation. Now, the fixed idea have been broken at least the view toward game.

Japanese portable console, which was launched in Korea in January 2007, sold 1,000,000 consoles as of 27th of December 2007. They release 41 game titles and sold 2,200,000 copies. Especially, there are five game titles that have sold more than 100,000 units. “Brain Training Game” has sold more than 200,000. Nintendo and these game titles has helped expand the game population by age and gender.

- Maybe even species

It is remarkable performance compare with their one of the strongest rival Sony play station. Even though they have brand awareness from home applicants, they took three years to achieve 1,000,000 cumulative numbers of sales but Nintendo made it just after one year after enter the market.

- Playstation portable -

SWOT analysis of Nintendo

So my recommendation to keep their capitalization of Nintendo, they need to develop anti-hacking solution to prevent using R4 and try to save cost for title localization. It will hinder on introducing new game and give a tension for sales. Also it will effect on reduce illegal software market. Because some people buy R4 just because they can’t wait until it translated and released on Korea game market.

- I draw SWOT analysis myself even it was not seems like. :)

http://joongangdaily.joins.com/article/view.asp?aid=2884471

http://blog.naver.com/lemocin?Redirect=Log&logNo=110026367043

Entry #10 20300156

2008-05-16T06:51:00.000-07:00

SKT rolls the dice on game firm in China

May 16, 2008

SK Telecom, the nation’s leading mobile phone operator, has taken a $7.8 million gamble on a Chinese online game company.
The company said in a release yesterday that it has purchased a 30 percent stake in Shanghai Magicgrids Networks.
SKT said in the release that China’s online game industry has explosive potential. It has recorded an average 82 percent sales growth in recent years, and the industry was valued at around 1.2 trillion won ($1.1 billion) last year.
It is SKT’s third contract with a Chinese company this year. The company signed deals with a Chinese global positioning system manufacturer and a music label company in January and March, respectively.
SKT holds a 65 percent controlling stake E-Eye, the GPS maker, and a 42 percent controlling stake in TR Music, the music label company.

In August 2007, SKT became the second-biggest shareholder of China Unicom, a mobile phone operator.
SKT said it wants to become a market leader in China when it comes to convergence services combining mobile phones, music, games and GPS services.
“This year will be a milestone for us because we’re ready to converge services in China. We also hope to position ourselves as a game hub across the Pan-Asian region,” said Lee Suk-whan, head of SKT China Holding Company.
According to market observers, however, SKT’s purchase of an online game company shows it wants to find growth momentum in a sector outside telecoms. Despite China Unicom’s large customer base, it has unimpressive operating profits, said Kim Hong-shik, an analyst at NH Investment and Securities.

By Sung So-young Staff Reporter [so@joongang.co.kr]

SKT wants to escape from maturity maket of Korea. They discovered China's game industry potential and now do their plan. I expect the result of investment and also the result of SKT's future analysis.

# 10 Entry_ 20500297 :-)

2008-05-13T05:51:00.000-07:00

Building a better team*

What is this artible about?) "Collaborative Intelligence" is what the author talks about. It is the ability to harness the energy and intelligence of groups or teams. IQ, even EQ, is not sufficient to be an effective leader. Collaborative intelligence is what you need to raise more. As technology changes the world, it becomes difficult to achieve high level of collaboration. People care about themselves, not others. However, higher CQ in the workplace enables you to respond to new circumstances and increases adaptability of a company. A team with a high CQ will look like this;

1) It is able to share the stress and strain evenly throughout the team.

2) Achieves its objectives more through people and less through politics.

3) It has a strong network of connection and support between its members. This accelerates learning, enabling the team's reactions to be rapid and responsive to challenges.

4) It looks after its own: Individuals are not left to fend for themselves, and staff retention is high because people feel a strong sense of belonging.

5) It is well connected with other teams and with corporate objectives. Like a healthy organ in the body, it knows what its function is and serves the greater good through rough times and smooth.

6) It replenishes itself, growing its members, and is constantly learning to better adapt to its environment.

7) It displays a strong sense of meaningful participation, which the members are all nourished by.

My thoughts & feelings) Recently, I have had a hard time with my team. We are not productive and no one is willing to try new things. Our relationship is not close and I am even having a hard time sitting in BS class. I regretted that I chose this class. I like what I learn in this class and I still want to do better but the thing that bothers me is teamwork. Professor Lee assigned another presentation work and it gave me another hard time. I just want this semester to be over sooner or later. I can't stand with this anymore. The thing I am worried about is not my grade, but I just do not want to get stressed any longer. There's something to be changed for sure. The reason why I am writing this here in public place is because I want my problem to be the past. I desperately look for the way to change our team. There are only 3 of us, but somehow it's just too difficult to get along with other members and I am even afraid of the work we should work on until the end of this semester.. (sighs) How can we build a better team together? I wondered and this article written by Marshall Goldsmith helped me with that. The thing I had to change was not my environment or other people, but my selfish attitude itself. The way I see my team members and the way I see myself should be changed in order to increase my 'collaborative intelligence'.

* Annotation: Marshall Goldsmith, Building a Better Team, Journal. September 11, 2007.

* URL: http://www.businessweek.com/

#9, 20501036

2008-05-11T07:41:00.000-07:00

Success in franchise market

It is not a very new thing that opening franchise fast food restaurant like ‘Burger King’, ‘KFC’, ‘Pizza hut’. From 2000’s family restaurants like ‘outback steak house’, ‘bennigans’ are rush in to Korea. ‘outback steak house’ as an example, they recently open 100th restaurant in Korea. They made remarkable performance with localization and fitting marketing strategy and image making.

‘Starbucks’ introduce their business model even before coffee specialty store became familiar. So now they have more than 200 stores. Above two companies I introduced are benchmarking by themselves to use it as a successful case when they are penetrate to another country.

Now there’s another trend on the franchise market. Until now, most of overseas franchise stores were concentrated in Food and Beverage industry. But now the others who were not invited are hustle through the retail sales market in Korea.

G.S Watson’s is introduced in 2006. It a joint stock company with GS retail and A.S Watson’s invest 50:50. A.S Watson’s, subsidiary company of Hutchison Whampoa Hong Kong, has more than 5000 stores in 910 cities covering 19 countries in the world. G.S Watson’s is health and beauty specialty store and they have 11 stores in Korea.

Also in organic grain market in Korea, Huckleberry Farms and Cho-hung made master franchise contract. So, Cho-hung corp. introduced ‘Huckleberry farms’ as a direct management store. And for small franchise membership store they introduce ‘Hill Green’ as their own franchise brand.

These new trends in franchise market represent change of customers’ spending pattern. We can say the ‘Starbucks’ introduce and lead the coffee specialty business in Korea. But most of cases like ‘Huckleberry farm’, the well-being trend deliver the organic grain franchise business and health franchise companies introduces. However, we need to see that some trends are moves quickly so if someone wants to introduce some business, they should consider what the trend is and how long it will be sustain.

http://www.economy21.co.kr/magazine/txt.asp?news_id=59961&icon=22&part=naver

20501036

Entry #9 20300156

2008-05-09T06:54:00.000-07:00

LG designs future in product appeal
May 07, 2008

LG Electronics cashed in big around the world with its popular design-oriented Chocolate and Shine phones. Now LG Group’s chairman is looking to replicate the phones’ success — and he’s put up the cash to make it happen. Chairman Koo Bon-moo has decided to invest 100 billion won ($98.4 million) this year into upgrading the overall design of LG products, the company said in a press release.

This marks LG’s biggest investment in the design sector.The company spent 78 billion won and 88 billion won on design in 2006 and 2007. In addition, Koo announced that the company will add about 700 designers to its workforce in a meeting with 20 key company officials.“By doing so, we can enhance designs for all LG products, not a few items in particular,” Koo said. During the meeting, representatives from LG Electronics, LG Chem and LG Household and Health Care said they will research consumer preferences worldwide based on their gender, age, class and region. LG Electronics heads the design of mobile phones and home appliances, while LG Chem works on interior products such as artwork-inspired wallpapers and window frames. LG Household and Health Care will focus on the design of cosmetics containers. These three LG affiliates launched the LG Design Council last July to reflect Koo’s design-oriented policies.“LG earned more than 80 design-related awards last year, compared to 58 in 2006,” an LG official said.“Companies no longer compete over price, quality and technology. Design makes you a global leader. After all, most people think quality and design go hand-in-hand.”

so@joongang.co.kr

As you know, there are some telecom's companies such as SK telecom, KTF, LG telecom etc. These companies has many members but LG's members are just a few. This mean LG has the smaller influencing power than other company. However, so many people want LG's cell phone not service. Because, LG's cell phone has nice design. For example, shine phone has big influenced to many consumers and chocolate phone too. They are high price and very scarcity. It is LG's strategy and it is successed. So LG invest to cell phone design's post again about 100 billion won. Maybe, successful design can make bigger profit than any other telecom companies and maintain LG telecom. I strongly agree LG's strategy that invest large money to design's post.

Entry #9 20200622

2008-05-09T04:40:00.000-07:00

Builders Globalize Brands for Overseas Expansion

By Jane Han
Korean builders aren't just building plants and paving roads overseas, but they're starting to hammer their way into the Southeast Asian residential development business with their star-studded apartment brands.GS Engineering & Construction is set to break ground this summer on its major Vietnamese project, housing some 17,000 units of new apartments, villas and townhouses. Investments are huge, but the builder says it is confident that its brand ``Xi'' and actress Lee Young-ae will help make a soft landing.``Similar to Korea, branding is important in other emerging Asian markets,'' said a GS official, adding that no matter how good a product is, it must be strategically boosted with an attractive marketing strategy.Kumho Engineering & Construction is now creating a new brand and signing on its brand model to prep up for its overseas debut.``We're looking for a model who can represent us both locally and internationally,'' said a company official, who also stressed the importance of models and brands in today's cutthroat competition.Construction firms have been finding it more and more difficult to sell apartments amid a local housing slump, heavier property taxes and tough lending rules. Government data shows that more than 150,000 newly built homes were left unsold as of the end of last year, which is the highest level since September 1995. ``Conditions won't improve anytime soon as a growing number of people are reluctant to finance their homes,'' said Kim Eun-kyung, a researcher at a real estate market information provider Speedbank. Breaking into the overseas market has been one solution to offset the slow business here, while attempting a brand transformation has been another. Daewoo Engineering & Construction, which fronts its signature brand ``Prugio,'' recently switched models from mature actress Kim Nam-joo to younger star Kim Tae-hee, in an effort to boost the brand's vibrancy.Such change is expected to trigger a domino effect among the foray of domestic apartment names, which typically fronts an attractive female celebrity to show and tell their features.``Many of the current models have been signed on for more than three years, so it's about time for a generation change,'' said Kim Woo-min, a creative planner at AdOne, a Seoul-based advertising agency.While celebrities usually get paid some 500 million won to 1 billion won, some critics say that the excessive marketing frenzy will only pass on costs to home buyers.

I think branding is very important in other emerging Asian markets, no matter how good a product is, it must be strategically boosted with an attractive marketing strategy. I hope Korean apartment builders to come up with some good strategies to import thier brands.

Entry 9 / 20500297

2008-05-08T06:05:00.000-07:00

Why Risk Is Important?

Entrepreneurs, like ice climbers, are often said to risk their necks.

But there are ways to cut danger to sane levels - and some very good reasons to try.

To begin with) I'm NOT a risk-taker. I'm NOT a type of entreplorer who is willing to take risks. I'd like to live a 'safe', 'sustainable', and 'affordable' life. I don't want to experience any adventure in my life because it would cause risks! Risks equates to danger and I'm afraid of it. However, as a business student, I learned that avoiding risks is not the right way to pursue. The fact is, those who face risks and look for the way to make it as a chance of development usually become successful in their lives. For me, risk was a threat that discourages me and makes me feel that I am a failure, but today as I read this article, I realized that such a risk rather provides me an opportunity to make my life more fantastic! :)

Summary) Taking risks is not a gambling. We are able to reduce the risks to an acceptable level as we do any business jobs and work and in order to reduce that risk, we all need to be trained. The author compares taking rish with ice climbing. Ice climbing requires you to be trained, to have appropriate tools, to have fitness, and finally to trust partners. When these for elements are ready, you can enjoy recreational ice climbing because with these considerations, your risks are calculated. It goes same with the entrepreneurs. Training means what kind of skills you can use to engage a problem you have. Tools are those potentially useful processes, technologies, or other instruments to protect your company. Fitness is like how much you are prepared to take risks. Partners are those who share you vision and dreams. Getting the best partner is critial, the author says. "The most dangerous way of all to play it is so-called safe. Safe leads to atrophy and certain death - of spirit, culture, and entreprise.' (quoted) Risk is not only NOT to be avoided, it is to be embraced - for survivle as the author says, because it brings creativity.

My thoughts & feelings) I pretty enjoy my so-called boring life. I don't think it's boring, but it is rather safe and time-followed schedule. I feel calm and even peaceful when I do things as I plan. As I mentioned before, taking risk is still not my type. As possible as I can, I want to avoid any risk coming into my life since it destroys my peaceful life. Last semester I took 'entrepreneurship' class and it was pretty much about the personalities of entrepreneurs. What the professor and special guests mostly emphasized was entrepreneurs are willing to take risk and they try to find the ways to apporoah to the problems and transform them into another chance to develop themselves and enterprises. It means that true entrepreneurs can accept their problems and even failures and can learn from them. The reason why I am afraid of risks is because I am not fully ready to face my potential failure. I can't accept the fact that I have been doing something wrong and that I need to change the way I used to be. However, as the author says, risks are not only NOT to be avoided, but it is to be embraced. The harder I try to avoid things I hate, the longer they follow me. But once I embrace them, they no longer bother me or give me a feeling of failure, but would rather make me think differently. That would be the first step I can take to create 'innovation.'

Annotation* Bill Buxton, Why Risk is Important, Journal. March 12, 2008 / URL: http://www.businessweek.com/innovate/content/mar2008/id20080312_205292.htm?chan=innovation_innovation+%2B+design_innovation+strategy

Entry 9 by 20500297

Entry 8. 20501036

2008-05-02T05:07:00.000-07:00

A New trend in hospital management strategy

As Professor Abraham introduce trend in general hospital system in U.S.A, increase number of hospital made strong competition in Korea, too. It also makes both of them try new management strategy like attract foreign patient from outside.

In Korea, according to data from Seoul university hospital foreign clinic, foreign customer (patient) sizes are increasing every year. Their main purpose of visit was to have a plastic surgery and dermatology clinic. Also they can enjoy staying with tourism. But we already handle this strategy case in the class, so I will introduce something unique.

In Korea, before the missionary Allen who worked for royal physician of King ko-jong in 1890's (the last king of chosen dynasty in Korea peninsula) introduces modern medical art to chosen, oriental medical science was dominant art in medical science. However, after modernization, western medical art became qualified and oriental medical art was gone down.

But oriental medical art ride again because it has been recommended as an alternative medical science recent year. So the general hospitals gave an attention to them and they try a new strategy. Because some Korean doubt their effectiveness. But some people, they believe that it is more effective to treat some sort of disease or illness than a modern medical science.
So, some of general hospitals try a combined medical service so they can give feed back each other’s treatment. In this way, they could extend market share. However, there’s some government institutional allowance problem and conflict inside of medical experts group. Because according to a legal interpreting precedent, cross treatment by a doctor who has both oriental medical art and typical medical art’s license cannot make cross prescription. The doctor only can make isolated each boundary's prescription, not a cross prescription. And there has some conflict between oriental medical scientist and typical medical scientist. Doctors from modern medical art doesn’t trust their prescription because they though that it was not scientifically proved.

With all those negative view toward this new type of hospital business, it has potential not only for market inside of Korea but also it will give an attraction for international medical service market.

http://www.mdtoday.co.kr/mdtoday.html?cate=2&no=51855

20501036

Entry 8# Kim Han gil

2008-05-02T00:56:00.000-07:00

Daewoo to build new zone in Oman
April 24, 2008

Daewoo Shipbuilding and Marine Engineering Company will join the trend of local companies developing new cities in emerging economies, with an industrial and tourism complex in Oman. The world’s third-biggest shipbuilder said in a statement yesterday that it signed a memorandum of understanding with the Middle Eastern country to develop an industrial and tourism zone with a residential town for workers. The zone will be built by 2020 in Duqm, a port city about 450 kilometers (280 miles) south of Oman’s capital, Muscat.The value of the project and other details will be decided later, the statement said. It might be worth around $20 billion, a source said.Under the deal, Daewoo Shipbuilding and a state-run Omani company will establish a 50:50 joint venture for the project. In the tourism district, hotels, hospitals and leisure facilities will be built. The industrial sector will have a ship repair yard and additional port facilities.

In 2006, the local shipbuilder signed an agreement to build and run the yard, which will be the biggest in the Middle East.After signing the MOU with Oman’s finance minister, Ahmed bin Abdul Nabi Macki, in Seoul yesterday, Daewoo Shipbuilding chief executive officer Nam Sang-tae said, “Oman is the second biggest gas exporter to Korea and so it is a very important economic partner. We thank the government of Oman for giving a chance to participate in the country’s economic development.”Other local companies are also actively participating in new city development projects in Asia, Eastern Europe and Africa. Posco Engineering and Construction, an affiliate of the world’s fourth-biggest steelmaker Posco, is constructing a new town in Vietnam. State-run Korea Land Corporation is participating in new residential town development projects in Azerbaijan and Algeria as project manager.

By Moon So-young Staff Reporter [symoon@joongang.co.kr]

This strategy is good solution that improve daewoo's gross profit. Korea's building industry is already became maturity. It means there are so many comepititors and it cause some problems with limit demands in korea. As you know, Dae woo is not popular building company in korea. So this expand to abroad will be good solution that overcome domestic's limit demands.

http://joongangdaily.joins.com/

Entry #8 20200622

2008-05-02T00:55:00.000-07:00

10,000 local jobs to be slashed

Local administrations must slash 10,000 jobs and save up to 10 percent of labor costs this year, the Ministry of Public Administration and Security said yesterday. The announcement came in line with the Lee Myung-bak government's plan to streamline the public sector.
The ministry will provide financial incentives to local governments which reduce 5 percent or more of their labor expenses.
"Some 10,000 jobs related to tasks led by the central government, such as investigations into painful parts of Korea's past, have been added to local administrations over the past five years," a ministry official said. "These jobs will be cut within this year."
The number of local government officials rose 13.8 percent during the Roh Moo-hyun administration to about 282,500 by the end of last year.
Local governments that hired more public officials, despite a decrease in population, are already preparing to downsize, the ministry said.
The population dropped between 2002 and 2007 in 152 local autonomies across the nation, but 149 of them hired more public officials.
Regular employees, as well as part-time and temporary workers, are subject to the job cuts, according to the ministry guidelines which were sent out to local governments.
Of the 245 local autonomies, excluding Jeju, three already have said that they plan to eliminate 10 percent of their staff. Ninety-six said they plan to chop more than 5 percent but less than 10 percent. Twelve said there will be no further increases, the ministry said.
Local governments which cut 5 percent of their labor costs will be provided with incentives or special tax revenues worth 10 percent of the amount they saved. Those which save more than the basic target of 5 percent will be given 50 percent of the saved amount in incentives, the ministry said.
"(Local governments) can save some 770 billion won ($767 million) by trimming 5 percent of labor costs, and another 230 billion won by shutting down or integrating useless administrative organs," the ministry said. "This amounts to 1 trillion won, which will be used to stimulate local economies."
The ministry also called for the integration of districts with less than 20,000 people and 3 square kilometers in area. It urged local administrations to follow the organizational structure of the central government, in which each office is comprised of three or four divisions with 20 to 30 employees each.
Along similar lines, the ministry plans to draw up guidelines as early as next week to reduce and reorganize the staff of fire stations.
By Kim So-hyun
(sophie@heraldm.com)
2008.05.02

I totally agree with president Lee's plan, because in Korea, there are too many public service personnels who they are not really needed for the government. Also so many undergraduate students are thinking of being a public service person who they don't do much work and safe with being fired. What I think is that president Lee should cut down more than 10,000jobs.

Entry #7 20200622

2008-04-27T10:33:00.000-07:00

Honda takes lead in imported car market

Honda Korea looks set to become the first foreign carmaker to sell more than 10,000 units on the local market in one year.
According to the Korea Automobile Importers and Distributors Association, the local arm of the Japanese carmaker sold 2,827 vehicles during the first quarter of the year.
If the company can maintain a similar sales record throughout the year, Honda Korea's annual sales will come in at over 11,000 units. The highest annual sales recorded so far was the 7,618 units sold by BMW Korea last year.
"At the beginning of the year, the company set this year's target at 9,000 units and, even if annual sales come in at over 10,000 units, we don't think it will be much higher than that," said a Honda Korea official.
She said that, due to the global shortage of the sedan Accord, the company set the conservative target of 9,000 and that the problem may still act to hold back Honda Korea's sales this year.
The car is available in two versions, the Accord 3.5 and Accord 2.4, and both models are among the top ten bestselling imported cars for the first quarter. With the combined sales of the two models coming in at over 1,200 units, the Accord accounts for 45 percent of the company's first quarter sales.
Whether the company sells more than 10,000 units this year or not, Honda Korea has taken the lead in the imported car market with 18.05 percent market share and a 630-car lead over last year's top seller, BMW.

By Choi He-suk

(cheesuk@heraldm.com)

I believe Honda cars are cheaper than most imported vehicles but they offer high quality and performance thus attracting a wider consumer base. Honda cars' tendency to have high re-sale value, and the reinforcing of Honda sales and service networks have also helped to raise sales this year.

# 8 Entry / 20500297 (9th week)

2008-04-26T00:16:00.000-07:00

" Dreaming a Global Leader? Increase your CQ."

What's our school's name? It's Handong 'Global' University. What comes into your mind when you hear the word 'global'? When I think of global, it reminds me of 'cross-cultural' for I believe that global leaders should be those who understand and embrace cultural difference. In that content, well-known leaders tell you to increase your CQ, which stands for 'Cultural Quotient.' It is also known as 'Cultual Intelligence.'

Importance of Human Resource) Kevin Kelly, CEO of Heidrick & Struggles said that the key of success is human resource. Also, Jerry Davis (picture), Asia and Pacific CEO of Heidrick & Strggules said that the more competitive the world is, the more human resources are needed. They both emphasize the importance of this criticial resource, human. I remember professor Lee saying that human resource is something you can't easily replace with other resources. I agree with his opinion because among a lot of resources, human resource is the most difficult to get since it requires trust, loyalty, and even love sometimes.

IQ, EQ, and CQ?) What these two leaders talk about is CQ. Jerry Davis said that global leaders' requirements are not only IQ or EQ, but also CQ. As I mentioned, those who get high score on CQ have a potential to be an effective global leader, which means that they are able to understand and respect cultural difference. There are three types of CQ; Intellectual, behavioral, and emotional. Intellectual CQ is simply understand the cultural difference. Behavioral CQ is recognize cultural difference in a certain behavior of human. Lastly and most importantly, emotional EQ is maintain relationship and sympathize with foreigners even though people from different country look different, talk differently, and behave differently. In order to manage circumstances based on different culture and background and accept them, leaders must understand what CQ is and acknowledge of its significance, I think. To get into world and to expand your business in a global society, global leadership became something you can't avoid.

How to increase CQ?) To increase your CQ, experience in abroad is required. Those who have experience in abroad will be treated better than others. In my opinion, knowing and understanding is quite different. You can get some knowledge of a certain country and people living there without any experience. However, without actual experience, you can never understand and repect their differences.

As a business student..) We need to consider the fact that cultural barrier is the thing CEO should overcome. Why do you think that those foreign CEOs working in Korea fail? Because they are proud of themselves. They are so conceited that they just try to teach Korean managers and workers rather than respect our own cultural background and working habit. We can 'import' some tactics and management skills from abroad, but leadership is different. Successful CEOs are so curious that they always try to think of as many ways as they can to solve problems. 'Why is this happened?', 'What other things can do try?', 'How can I change?'... With these kinds of questions will refresh our thoughts and minds. So as a business student, and especially as a Handong Global University's student dreaming of being a global leader, what we need to do is accept other people's difference since God created each one of us different. We look different, we think differently, and we feel in a different way. However, diffence itself cannot be a problem. How to understand it and

whether we respect it or not it the thing!

* Reference 중앙일보) 글로벌 CEO를 꿈꾼다면 CQ부터 키워라

* Entry 8 by 20500297

#7 20501036 Maybe I am not old enough!

2008-04-25T02:34:00.000-07:00

When I turn twenty, it was almost impossible that play with toy thing. If I do playing with toy, people think of me as strange or have some mental problem and maybe I will be called otaku (it doesn’t mean that all of them has problem but people often call those kinds of people as otaku)

I am okay okay person!

Well, some people might ask that “if I don’t bother someone lese, what’s the problem than?” but, even though people think it’s odd, many adults still want to play with toy anyway but they don’t want to be seems like child. It’s a dilemma. So some smart people invent toy for adults (doesn’t mean stuffs in adult shop -_- ;)

http://www.funshop.co.kr/

Have you ever heard about that? They are introducing items which are not designed only for common purpose. They are niche market and there have not so many competitors in the market and still have potential.

They are selling from office wear to actual toy but it doesn’t seem so much like toy for children.

<>

So I try to buy something but all of their stuffs are extremely expensive than normal items which are selling on store out there. For example, if I buy a normal portfolio, it cost only cost 4000 won

4000 won normal portfolio

but if you buy it on fun shop which is luxuriously made by leather, it’s 159,000 won! Wow!

They are definitely targeting adult who are wealthy enough. But their items are uniquely designed and full of idea.

They don’t have off-line stores, they don’t have factory to product (if they product all of stuff they are selling, they will need to build more than hundred factory) and all items are imported from all different countries. Anyway, as professor Abraham said, there are tons of business opportunity out there!