View the article
Summary
Korean companies are turning their attention to the development of alternative energy to substitute for fossil fuel in the midst of surging global oil prices.While electronics and heavy industries look to muscle into the solar energy business, automakers are in full swing developing hybrid vehicles. Refineries here are also seeking to create funds for alternative energy. LG Group recently confirmed an internal plan to foster solar business as a new growth engine. Following last year's establishment of LG Solar Energy, which will exclusively take charge of solar energy generation business, it has recently set up separate develop projects for a solar lighting module for LG Electronics, and polycrystalline silicon, usually dubbed as polysilicon, for LG Chemical.Samsung Electronics has also built a photovoltaic research institute at its LCD research center, where a project to develop solar battery products is underway. Hyundai Heavy Industries launched a solar cell plant in Eumseong, North Chungcheong Province, last month. The new plant will produce photovoltaic modules generating 30 megawatts every year, which is enough for about 10,000 households to use. Hyundai-Kia Automotive Group is looking to develop eco-friendly hybrid vehicles, which are more fuel efficient with lower emissions than conventional ones. The world no.6 maker plans to produce hybrid cars in 2009, followed by test operations of fuel cell vehicles in 2012 and their commercial production later. As part of a master plan, it will set off production of a hybrid version of its compact car, Avante, next year.
My Opinion
Recently, world economies are suffering from high oil price, because oil is the core factor to lead all economics circumstance. But as you know, Oil will be exhausted soon. Can you imagine if we don’t have alternative energy after exhausting? Many people will probably worry about their car’s fuel. It is not only individual’s problem, but also entire industries. In this tough era, what should firms do in order to overcome?
They won’t be able to operate if they just expect increasing supply of oil. Many major firms have researched to develop alternative energy, and have made an effort to improve their technology. However, I think that we still lag behind other developed countries. Lots of products based on alternative energy, which commercially use in developed countries, aren’t still used in Korea; furthermore we still don’t have any legal system. In other words, we pursue other countries. But In competitive business, follower has very limited opportunities. Therefore, we have to find out Blue Ocean so as to increase our quantity of output. I think that alternative energy is the Blue Ocean. Even though, we lag behind other countries at the moment, it isn’t too late. Therefore if government and firms concentrate on developing alternative energy, we will be able to make lots of profit.
#20400251 Entry #15
Friday, June 13, 2008
how Google Fuels its idea Factory
article
http://www.businessweek.com/magazine/content/08_19/b4083054277984.htm?chan=search
Summary & Opinion
Google has improved A lot after they had hard time with highly dropped stock price. Many concerned that weak economy would hurt the search advertising business, like Google. Despite this, Google haven’t really defied and showed 20 % of amazing stock soaring. As the answer from Chief Executive Eric Schmidt, there are a few special strategies and methods they could survive and keep innovating themselves.
Google has tried to make small group of people for catching up the creative ideas to innovate. They strongly believe that managers can’t screw around with the employees beyond some limit. The strength Google has is that they have unique strategies and keep innovating themselves with that strategies.
They also have some problems they face. The weakness they have is that they have people in multi sites, so they have some obstacles with communicating each other because the way they want to do is face to face contact.
The opportunities they have are many acquisitions. They positively think about accepting the acquisitions. Therefore, they carefully evaluate before decide to accept the acquisitions. They see more acquisitions to accept.The threats they have are not really serious. It could be these days’ recession or a downturn, but it wouldn’t affect to Google much.
I also positively think about the acquisition which Google accepts. as we saw from the Spoinbrush case study, it is a big Challenges and opportunities to improve themselves in spite of the difficulty of deciding and assimilating the culture.
20700011 entry #15
Hospitals Set to Attract More Foreign Customers
Summary
Korean hospitals will be more attractive to foreign patients than now, because recently Korean government decided to decrease regulation about hospitals.
According to the Ministry for Health, Welfare and Family Affairs, Hospitals can use all marketing tools to attract foreign patients.
To make Korea ‘medical tourism’ is the goal and it will be new growth energy for the Korean economy. Thanks to easing management, Korean hospitals can use any form of promotion such as paper, TV, fee discounts, and even transportation service for inbound patients.
Medical tourism is very profitable business, and this change of law will help the success of hospital business.
Many foreigners come to Korea, because they can have advantages both the low cost and high level treatment service, compared to expensive price of the advanced countries.
And they have a goal; they have more than 100,000 overseas patients by 2012.
Korean government plans to fuse oriental with western medical service and allows wealthier hospitals to take over poor hospitals.
Many experts expect to strengthen the competitiveness of Korean hospitals.
Opinion
I remembered seeing Malaysia that has a big successful medical business for foreigners in class. In video, its environment and system was great. It was enough appeal to foreigners because there were nice facilities in hospital and it didn’t lose compared to hotel service. And it’s possible to explore beautiful tour at that time. I impressed by it and I was impatient at Korean’s environment compared to that.
That’s because Korea government had strict laws to hospital field, because it stressed the public more. Actually, strict regulations have disturbed to the potential growth of Korean hospital. We have excellent doctors and skill, but many foreigners select Malaysia or Indo instead Korea, because Korea strength regulation and have fewer benefit to foreigners. In Case of Malaysia, not only hospital’s effort to development its service and skill, but also government’s assistance are helpful.
Korean hospitals will be more attractive to foreign patients than now, because recently Korean government decided to decrease regulation about hospitals.
According to the Ministry for Health, Welfare and Family Affairs, Hospitals can use all marketing tools to attract foreign patients.
To make Korea ‘medical tourism’ is the goal and it will be new growth energy for the Korean economy. Thanks to easing management, Korean hospitals can use any form of promotion such as paper, TV, fee discounts, and even transportation service for inbound patients.
Medical tourism is very profitable business, and this change of law will help the success of hospital business.
Many foreigners come to Korea, because they can have advantages both the low cost and high level treatment service, compared to expensive price of the advanced countries.
And they have a goal; they have more than 100,000 overseas patients by 2012.
Korean government plans to fuse oriental with western medical service and allows wealthier hospitals to take over poor hospitals.
Many experts expect to strengthen the competitiveness of Korean hospitals.
Opinion
I remembered seeing Malaysia that has a big successful medical business for foreigners in class. In video, its environment and system was great. It was enough appeal to foreigners because there were nice facilities in hospital and it didn’t lose compared to hotel service. And it’s possible to explore beautiful tour at that time. I impressed by it and I was impatient at Korean’s environment compared to that.
That’s because Korea government had strict laws to hospital field, because it stressed the public more. Actually, strict regulations have disturbed to the potential growth of Korean hospital. We have excellent doctors and skill, but many foreigners select Malaysia or Indo instead Korea, because Korea strength regulation and have fewer benefit to foreigners. In Case of Malaysia, not only hospital’s effort to development its service and skill, but also government’s assistance are helpful.
As you see the table, expense is lower compared to other countries, and it will be power advantage. Korean hospitals plan to be Hub in Asia. There were already prepared medical tourism and sale advertisement and package for medical examination package. To succeed that, we need to have professional train to experts who aim foreigner’s communication and their tour, and more programs to appeal them. I think, Korean’s medical is the top level, however the fame isn’t not to it. So, positive promotion and product is needed, too. Marketing is very important factor.
# 20300194- Entry 15
(Source: The Korea Times/06-12-2008/ by Park Si-soo ,staff reporter )
# 20300194- Entry 15
(Source: The Korea Times/06-12-2008/ by Park Si-soo ,staff reporter )
US Beef Boycott in Making
View the article
Summary
McDonald, one of the largest fastfood franchise, tells "100% beef" but it is not good to most of Korean consumers because of mad cow disease. The main food manufacturers and restaurant chains emphasizetheir "no U.S beef" because they have to reduce the loss of the recent event.
A spokeperson of CJ, Kim Jong-eun, said "It is important to win over consumer trust from the start'' Besides CJ, Korean biggest fastfood chain Lotteria, manages 740 stores in the country, said it will not use even in the future and family restaurant Outback Steakhouse including VIPS, Sizzler, T.G.I. Fridays and Bennigan's decided not to import "U.S beef".
Moreover, major hypermarket like E-mart, Lotte mart, and Homeplus are also thinking the import of "US beef" is not desirable.
However, its ban will demage the local beef importers and it will be distributed to each part. If the part rejects the import, they cost considerably. In fact, the amount of US beef import was $850 million the third market for US and Korea import beef from the Austrailia after the prohibition.
Opinion
The Korean consumer are afraid of US beef and it can occur mad cow disease. Perhaps it can be not ture and I want to trust it, but almost all the consumers don't feel like that so the main firms involved in beef tried not to lose their credability from them. How important the relationship with them is!!
What happen if the companies thought "US beef" is not dangerous and make the product using it?
The reputation will decrease drastically and the firm may lose the market share. Safe is not important and their concern is only in the consumers' preference. And it is sure that US beef is not so the reaction of giant firm is right.
But how can the importers do? This will have to be solved by the Korea and US government. Gov. suggests the solution quickly and the nation make feel confortable.
(Ref. : Koreatimes, 6/13, By Jane Han Staff reporter)
Summary
McDonald, one of the largest fastfood franchise, tells "100% beef" but it is not good to most of Korean consumers because of mad cow disease. The main food manufacturers and restaurant chains emphasizetheir "no U.S beef" because they have to reduce the loss of the recent event.
A spokeperson of CJ, Kim Jong-eun, said "It is important to win over consumer trust from the start'' Besides CJ, Korean biggest fastfood chain Lotteria, manages 740 stores in the country, said it will not use even in the future and family restaurant Outback Steakhouse including VIPS, Sizzler, T.G.I. Fridays and Bennigan's decided not to import "U.S beef".
Moreover, major hypermarket like E-mart, Lotte mart, and Homeplus are also thinking the import of "US beef" is not desirable.
However, its ban will demage the local beef importers and it will be distributed to each part. If the part rejects the import, they cost considerably. In fact, the amount of US beef import was $850 million the third market for US and Korea import beef from the Austrailia after the prohibition.
Opinion
The Korean consumer are afraid of US beef and it can occur mad cow disease. Perhaps it can be not ture and I want to trust it, but almost all the consumers don't feel like that so the main firms involved in beef tried not to lose their credability from them. How important the relationship with them is!!
What happen if the companies thought "US beef" is not dangerous and make the product using it?
The reputation will decrease drastically and the firm may lose the market share. Safe is not important and their concern is only in the consumers' preference. And it is sure that US beef is not so the reaction of giant firm is right.
But how can the importers do? This will have to be solved by the Korea and US government. Gov. suggests the solution quickly and the nation make feel confortable.
(Ref. : Koreatimes, 6/13, By Jane Han Staff reporter)
#20300576 - Entry 14
Korean Coffee Market
View the Article
Summary-
What coffee retailer do you think about when we say "coffee." Many people say Starbucks. However Korean coffee retailers are becoming competent with US coffee brands to bring Korea's coffee market to their side. Coffee retailers are pursuing to bring different experience and stories to their coffee brand.
The US Coffee retailers opened the market of coffee to Korea, widening their market. Competitors emerged, particularly domestic player such as Holly's, Angel-in-Us, and Tom N Toms. These retailers see that the market has great potential to grow because of conversion to premium espressos from instant coffee. Coffee retailers also see their business growing with the breakfast niche market.
Hollys, Korean specialty take-out coffee reatiler, promotes its homegrown brand. It strives to understand consumer neds and develop products along with the trends that are changing rapidly. Angel-in-Us provides high quality coffee and diverse drinks. Its location in commercial area, culture-related marketing,a nd story-telling marketing provides creatie experiences and promotes the brand's angel figure. These Korean coffee retailers are growing out to become international brands as they launch their first international chain.
This does not mean that all the people are changing their coffee taste from Starbucks to the new Korean competitors. Korean brand are striving through to promote their brand image.
My Opinion-
Starbucks has been the market leader for the coffee industry all over the world. As it entered the Korean market, it became a big hit and had brought the Korean's to change their lifestyles. Starbucks provide the consumers a new experience. Through this role model, Korea's coffee market started to grow with recognizable Korean coffee retailer such as Holly's and Angel-in-Us. These coffee retailers don't have such a strong image like Starbucks, but it is growing as the market open up for more potentials, as people are moving from instant coffee to premium espressos. The Korean economy has grown so that people look for more than jus a coffee but an experiene and comfortable atmosphere.
While the Korean coffee retailers start moving into the international market, it is important that it enhances its brand image that signifies its quality that is served through their coffee. The market itself have great potential to grow looking for "premium brands."
Entry #15
20600770
Source: The Korea Herald, Friday, June 13, 2008
"Coffee retailers go head-to-head with global brands"
Summary-
What coffee retailer do you think about when we say "coffee." Many people say Starbucks. However Korean coffee retailers are becoming competent with US coffee brands to bring Korea's coffee market to their side. Coffee retailers are pursuing to bring different experience and stories to their coffee brand.
The US Coffee retailers opened the market of coffee to Korea, widening their market. Competitors emerged, particularly domestic player such as Holly's, Angel-in-Us, and Tom N Toms. These retailers see that the market has great potential to grow because of conversion to premium espressos from instant coffee. Coffee retailers also see their business growing with the breakfast niche market.
Hollys, Korean specialty take-out coffee reatiler, promotes its homegrown brand. It strives to understand consumer neds and develop products along with the trends that are changing rapidly. Angel-in-Us provides high quality coffee and diverse drinks. Its location in commercial area, culture-related marketing,a nd story-telling marketing provides creatie experiences and promotes the brand's angel figure. These Korean coffee retailers are growing out to become international brands as they launch their first international chain.
This does not mean that all the people are changing their coffee taste from Starbucks to the new Korean competitors. Korean brand are striving through to promote their brand image.
My Opinion-
Starbucks has been the market leader for the coffee industry all over the world. As it entered the Korean market, it became a big hit and had brought the Korean's to change their lifestyles. Starbucks provide the consumers a new experience. Through this role model, Korea's coffee market started to grow with recognizable Korean coffee retailer such as Holly's and Angel-in-Us. These coffee retailers don't have such a strong image like Starbucks, but it is growing as the market open up for more potentials, as people are moving from instant coffee to premium espressos. The Korean economy has grown so that people look for more than jus a coffee but an experiene and comfortable atmosphere.
While the Korean coffee retailers start moving into the international market, it is important that it enhances its brand image that signifies its quality that is served through their coffee. The market itself have great potential to grow looking for "premium brands."
Entry #15
20600770
Source: The Korea Herald, Friday, June 13, 2008
"Coffee retailers go head-to-head with global brands"
Thursday, June 12, 2008
Small businesses say no to a dull office
기사보기
From The Sunday Times / June 8, 2008
Summary
AN electronic dance mat sits in the centre of the office at youth fitness firm Shokk. The mat - on which employees are encouraged to practise their dance moves on a daily basis - is just one of the many unusual ways in which the company uses its office space to inspire its staff.
Managing director Kieran Murphy believes the company’s dynamic workspace relates directly to its creative output.
As a result, employees are not limited to honing their dance skills; they are also actively encouraged to use skateboards to get round the office and to relax by flying remote-control planes above their desks.
The walls of the company’s 4,000 sq ft office in Newbury, Berkshire, are covered floor to ceiling with whiteboards on which staffs are encouraged to scribble their thoughts. Exony’s co-founder, Rex Dorricott, came up with the unique design after witnessing how a whiteboard in his own home encouraged his children to work on creating something visual together.
AN electronic dance mat sits in the centre of the office at youth fitness firm Shokk. The mat - on which employees are encouraged to practise their dance moves on a daily basis - is just one of the many unusual ways in which the company uses its office space to inspire its staff.
Managing director Kieran Murphy believes the company’s dynamic workspace relates directly to its creative output.
As a result, employees are not limited to honing their dance skills; they are also actively encouraged to use skateboards to get round the office and to relax by flying remote-control planes above their desks.
The walls of the company’s 4,000 sq ft office in Newbury, Berkshire, are covered floor to ceiling with whiteboards on which staffs are encouraged to scribble their thoughts. Exony’s co-founder, Rex Dorricott, came up with the unique design after witnessing how a whiteboard in his own home encouraged his children to work on creating something visual together.
Opinion
What was the main key for the success of Apple? It was definitely its unique design, I think. Then, how did they make that kind of whole different thing which had never been? That is the ‘Creativity’.
There are lots of marketing strategies that help the selling product, but not every item can be the star product. For achieving this goal ‘Creativity’ is critical. Therefore, more and more companies try to make employees think differently and make something special. As the article mentioned, the innovation for the office can make huge differences. According to psychologist Tom Stewart, the average person often experiences creativity or inspiration at unusual moments.
Having a defined kitchen of lounge area can be beneficial to staffs when they have spare time. They can use the time actively inside of the office, and through this, communications between the employees inspire each other and be creative. Unique design enables staff to come up with great products.
What was the main key for the success of Apple? It was definitely its unique design, I think. Then, how did they make that kind of whole different thing which had never been? That is the ‘Creativity’.
There are lots of marketing strategies that help the selling product, but not every item can be the star product. For achieving this goal ‘Creativity’ is critical. Therefore, more and more companies try to make employees think differently and make something special. As the article mentioned, the innovation for the office can make huge differences. According to psychologist Tom Stewart, the average person often experiences creativity or inspiration at unusual moments.
Having a defined kitchen of lounge area can be beneficial to staffs when they have spare time. They can use the time actively inside of the office, and through this, communications between the employees inspire each other and be creative. Unique design enables staff to come up with great products.
Student ID # 20500018
Entry # 15
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