Samsung To Change Its Management Structure To Empower The Individual

Posted: Jun 27 2016, 2:46am CDT | by , in News | Latest Business News

 

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Samsung To Change Its Management Structure To Empower the Individual
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The South Korean electronics maker is set to make big management reforms next month.

Samsung was founded in 1938, making noodles and selling dried seafood. Today the company is one of the leading electronics makers in the world. To stay on top continues change is necessary. A big change is coming to Samsung next month.

Samsung plans to break away from a top-down management approach established 23 years ago in something the company calls Frankfurt Declaration. In a top level management meeting in Frankfurt, Germany, Samsung Chairman Lee Kun-hee made this declaration. According to Korean news service Yonhap he said back then: "change everything but your wife and kids."

The company plans to change to empower the individual employee. The new plan calls for simplifying ranks, horizontal titles, selective promotion and compensation based on outcome.

A sign of this new style is Samsung's C-Lab. In just a short time, Samsung has established internal startup incubator sourcing ideas from employees and empowering them to become founders. The first spin-offs from the C-Lab include the WELT Smart belt and the Samsung Ahead helmet communication gadget.

According to Yonhap, Samsung Electronics Vice Chairman Lee Jae-yong has been seeking innovations through "creative thoughts and autonomy" instead of the "group's power" based on the Frankfurt Declaration.

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The Author

<a href="/latest_stories/all/all/2" rel="author">Luigi Lugmayr</a>
Luigi Lugmayr () is the founding chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
Luigi can be contacted directly at ml@i4u.com.

 

 

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