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SOUTH KOREA. FRANCIS PIRON, Ph.D., 2013. KOREA. KOREA. HDI .877 (#12) FINLAND .871, #16, JAPAN .884 #11 INCOME INEQUALITY GINI 31.6, R/P 10% = 7.8, R/P 20% = 4.7 FINLAND 26.9; 5.6 3.8 JAPAN 24.9 4.5 3.4 CHINA 46.9 21.6 12.2

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south korea

SOUTH KOREA

FRANCIS PIRON, Ph.D., 2013

korea1
KOREA
  • HDI
    • .877 (#12) FINLAND .871, #16, JAPAN .884 #11
  • INCOME INEQUALITY
    • GINI 31.6, R/P 10% = 7.8, R/P 20% = 4.7
    • FINLAND 26.9; 5.6 3.8
    • JAPAN 24.9 4.5 3.4
    • CHINA 46.9 21.6 12.2
  • DEMOCRACY INDEX
    • #20 8.11 FULL DEMOCRACY
    • FINLAND #7; 9.19
    • JAPAN #22;8.08
    • CHINA #136;3.14
  • GENDER EMPOWERMENT
    • #61 .554
    • FINLAND #3; .902
    • JAPAN #57; .567
    • CHINA #72; .533
background
BACKGROUND
  • COERCIVE RELATIONSHIPS WITH CHINA, JAPAN & US
  • UNIQUE MANAGERIAL APPROACH BASED ON NEO-CONFUCIANISM
  • HIGHLY EDUCATED & COMPETITIVE SOCIETY (71% of pop. are internet users!)
  • ECONOMY CONTROLLED BY CHAEBOL (similar to Japanese KEIRETSU)
local issues external forces influencing the s korean mgmt context
LOCAL ISSUES & EXTERNAL FORCES INFLUENCING THE S. KOREAN MGMT CONTEXT
  • MOSTLY MOUNTAINOUS COUNTRY
  • HIGH POPULATION DENSITY; 50 MILLION
  • ANTAGONISTIC AND COLLABORATIVE RELATIONSHIPS WITH CHINA & JAPAN => COMMON HERITAGE
  • SIGNIFICANT NATIONAL PRIDE: NATIONALISM
  • UNIQUE WORK ETHICS
local issues external forces influencing the s korean mgmt context1
LOCAL ISSUES & EXTERNAL FORCES INFLUENCING THE S. KOREAN MGMT CONTEXT
  • COUNTRY UNITED FOR OVER 1,000 YEARS
    • ESTABLISHED ADMINISTRATIVE SYSTEM
    • NATIONAL HOMOGENEITY
    • UNIFIED LINGUISTIC COMMUNICATION
  • CHINESE INFLUENCE
    • STRONG & OVER 1,000 YEARS OLD
    • IDENTIFIABLE IN EVOLVING KOREAN POLITICAL, LEGAL & SOCIAL SYSTEMS, AND ARTS & RELIGION
local issues external forces influencing the s korean mgmt context2
LOCAL ISSUES & EXTERNAL FORCES INFLUENCING THE S. KOREAN MGMT CONTEXT
  • RELIGIOUS & PHILOSOPHICAL INFLUENCES
    • CONFUCIANISM, TAOISM AND BUDDHISM FROM CHINA
    • CONFUCIANISM SHAPED CULTURE, SOCIETY, INSTITUTIONAL STRUCTURES & GOVERNANCE SYSTEMS

Religious Affiliation, Censuses

1995 1985

No Religion 49.3% 57.4

Christian 26.3% 20.7

Protestant 19.7% 16.1

Catholic 6.6% 4.6

Buddhist 23.2% 19.9

Confucian 0.5% 1.2

Other 0.7% 0.8

  • NEO-CONFUCIAN SOCIETY
    • CONFUCIANISM DEFINES SOCIAL RELATIONS AT ALL LEVELS
    • HARMONIOUS INTEGRATION OF INDIVIDUALS INTO COLLECTIVITY AS IN HARMONIOUS NATURE – PURSUIT OF HARMONY IS PARAMOUNT GOAL
    • SIGNIFICANCE OF TAOIST’S YIN & YANG – FUNDAMENTAL DUALISTIC RELATIONSHIP
local issues external forces influencing the s korean mgmt context3
LOCAL ISSUES & EXTERNAL FORCES INFLUENCING THE S. KOREAN MGMT CONTEXT
  • NEO-CONFUCIAN SOCIETY
    • OTHER RELATIONSHIPS INDICATE HIERARCHIES WITH FATHER AT THE HIGHEST
    • 4 HIERARCHICAL STRATA:
      • YANGBAN …… SCHOLARS & OFFICIALS
      • CHUNGIN ……..MIDDLE PEOPLE (TECHNICIANS, ADMIN.)
      • SANGMIN ……..COMMONERS (75% OF POP.)
      • CH’OMMIN …….BOTTOM OF SOCIETY
    • THUS, HIGH VALUE OF EDUCATION
    • MERITOCRATIC & SCHOLARLY SYSTEM
    • FILIAL PIETY – IMPORTANCE & ROLE OF ELDEST SON
local issues external forces influencing the s korean mgmt context4
LOCAL ISSUES & EXTERNAL FORCES INFLUENCING THE S. KOREAN MGMT CONTEXT
  • INFLUENCE OF CHRISTIANITY
    • EARLIER, ROMAN CATHOLICS
    • 1880s ON, PROTESTANT DENOMINATIONS
      • ASSOCIATION TO INDIVIDUALISM
      • KOREAN CHRISTIANS TEND TO BE OUTSPOKEN ADVOCATES … “UNKOREAN” BEHAVIOR
      • KOREAN SOCIO-CULTURAL VALUES HAVE BEEN THOROUGHLY ASSIMILATED IN KOREAN CHRISTIANITY
    • THUS, A RELIGIOUS PLURALIST SOCIETY
    • AS A RESULT, KOREAN BEHAVIOR PATTERNS EXHIBIT BOTH INDIVIDUALISTIC & GROUP-ORIENTED ACTIVITIES
local issues external forces influencing the s korean mgmt context5
LOCAL ISSUES & EXTERNAL FORCES INFLUENCING THE S. KOREAN MGMT CONTEXT
  • JAPANESE COLONIAL PERIOD
    • ALMOST HALF A CENTURY!
    • 1905-1945: KOREANS LOST OPPORTUNITY TO MODERNIZE ACCORDING TO THEIR NEEDS
    • INDEPENDENT DEVT. ONLY AVAILABLE THROUGH EDUCATION
    • COMPLEX NATURE OF KOREAN & NATIONALISM CAN BE TRACED TO JAPANESE OCCUPATION
  • POLITICAL ECONOMY
    • LIBERAL DEMOCRACY
    • PRESIDENT IS ELECTED FOR A SINGLE TERM … SOURCE OF CORRUPTION?
the mgmt of s korean institutional infrastructure
THE MGMT OF S. KOREAN INSTITUTIONAL INFRASTRUCTURE
  • GOVT-LED APPROACH TO INDUSTRIALIZATION
    • EXTRAORDINARILY RAPID PROCESS OF INDUSTRIALIZATION – CONTEMPORARY INDUSTRIAL POWER
    • 1960’s – NEED TO DEVELOP HEAVY INDUSTRIES
      • SERIES OF 5-YEAR ECONOMIC PLANS
      • FOCUS ON DEVT. OF EXPORT ORIENTED MANUFACTURING
      • STRONG GOVT. SUPPORT
    • 1997 ASIAN FINANCIAL CRISIS => NEED TO ADDRESS FUNDAMENTAL ECONOMIC ISSUES = CLOSE RELATIONSHIP BTW CHAEBOL AND GOVT. = “KOREA INC.”
    • GOVT. TYPICALLY CONTROLLED ACCESS TO CAPITAL AND THUS DICTATED STRATEGIES & OPERATIONS OF CHAEBOLS
the mgmt of s korean institutional infrastructure1
THE MGMT OF S. KOREAN INSTITUTIONAL INFRASTRUCTURE
  • DRIVERS OF GLOBALIZATION & FOREIGN INVESTMENT POLICY
    • STRONG FDI POLICY (US, UK, JAPAN, GERMANY)
    • STRONG OVERSEAS DIRECT INVESTMENT POLICY (ASIAN, AMERICA & EUROPE)
    • GLOBAL MARKET ORIENTATION
    • 4 STRATEGIC MGMT ENABLERS
      • GOVT ENABLERS
      • DEMAND-SIDE ENABLERS
      • SUPPY-SIDE ENABLERS
      • MARKET ENABLERS
the mgmt of s korean institutional infrastructure2
THE MGMT OF S. KOREAN INSTITUTIONAL INFRASTRUCTURE
  • GOVERNMENT ENABLERS
    • EXPORT-ORIENTED, PROTECTED DOMESTIC ECONOMY
    • ATTRACTIVE INVESTMENT CLIMATE
      • GRANTING OF DOMESTIC STATUS TO FOREIGN INVESTORS
      • FOREIGN INVESTMENT PROMOTION ACT
      • FINANCING & TAXATION BENEFITS FOR FDI
    • INITIATIVES TOWARDS REDUCING & DISMANTLING RESTRICTIVE TRADE BARRIERS
the mgmt of s korean institutional infrastructure4
THE MGMT OF S. KOREAN INSTITUTIONAL INFRASTRUCTURE
  • DEMAND-SIDE ENABLERS
    • GROWING IMPORTANCE AS A GLOBAL PLAYER
    • GLOBAL COMPANIES HAVE DEVELOPED KEEN INTEREST IN KOREAN PC MARKET
    • AS A CENTER OF INDUSTRIAL INNOVATION, FOREIGN MNCs ARE EAGER TO ENTER KOREAN MARKET IN SEARCH OF COMPETITIVE ADVANTAGE (HI-TECH & SERVICE SECTORS)
    • HOME OF THE FUTURE
the mgmt of s korean institutional infrastructure5
THE MGMT OF S. KOREAN INSTITUTIONAL INFRASTRUCTURE
  • SUPPLY-SIDE ENABLERS
    • NO LONGER A LOW LABOR-COST COUNTRY
    • WELL-EDUCATED, HIGHLY TRAINED WORKFORCE PROVIDES OPERATIONAL EFFICIENCIES
    • ADVANTAGE IN ABILITY TO ADOPT AND DEPLOY TECHNOLOGY
    • CONTINUOUS UPGRADE OF GOVT. INFRASTRUCTURE => ATTRACTIVE BUSINESS LOCATION
the korean innovation system overall evaluation
THE KOREAN INNOVATION SYSTEM: OVERALL EVALUATION
  • STRENGTHS:

STRONG COMPETITIVENESS IN SOME HIGH-TECH INDUSTRIES

RAPID EXPANSION & SKILL FORMATION

COMPREHENSIVE STRUCTURAL ADJUSTMENT

STRENGTHENEING SCIENCE BASE

  • WEAKNESSES:

STILL HEAVY CONCENTRATION OF RESOURCES ON CHAEBOL

SME/VENTURE SECTOR NEEDS FURTHER DEVELOPMENT

OPEN NETWORK CULTURE / INTERORGANIZATIONL LINKS SLOWLY EVOLVING

the mgmt of s korean institutional infrastructure6
THE MGMT OF S. KOREAN INSTITUTIONAL INFRASTRUCTURE
  • MARKET ENABLERS
    • HIGHER DISPOSABLE INCOME
      • RISE IN LIVING STANDARDS
      • CHANGE IN CONSUMER TASTES & PREFERENCES
      • YOUNGER CONSUMERS – INTERNATIONAL GOODS
    • GROWING POPULATION (50 MILLION 2008-2009)
    • WELL-ESTABLISHED FOREIGN COMPANIES: KFC, PIZZA HUT, PHILIPS, SIEMENS, ETC.
    • WELL-OPENED DISTRIBUTION NETWORKS
    • GOVT. WANTS TO INCREASE COMPETITION IN DOMESTIC MARKET TO STIMULATE CHAEBOLs
the mgmt of s korean institutional infrastructure7
THE MGMT OF S. KOREAN INSTITUTIONAL INFRASTRUCTURE
  • ORGANIZATIONAL CHARACTERISTICS OF CHAEBOLs
    • GROUP OF LARGE COMPANIES OWNED & MANAGED BY FAMILY MEMBERS & RELATIVES
    • DIVERSIFIED BUSINESSES
    • 3 TYPES OF CHAEBOLs
      • LATE 1950s CHAEBOLCREATED BY SELF-MADE MEN WHO BENEFITED FROM GOVT. RELATIONSHIPS
      • 1960s CHAEBOL FORMED WITH THE HELP OF FOREIGN LOANS
      • 1970s CHAEBOL RESULTS OF THE RAPID GROWTH IN EXPORTS & LOCAL DEMAND
the mgmt of s korean institutional infrastructure8
THE MGMT OF S. KOREAN INSTITUTIONAL INFRASTRUCTURE
  • CHARACTERISTICS OF CHAEBOLs
    • NOT ASSOCIATED/RELATED TO BANKS AS JAPANESE KEIRETSU
    • MORE DEPENDENT ON GOVERNMENT APPROVAL
    • SPREAD ACROSS MANY INDUSTRIES
    • HIGH LEVEL OF ENTREPRENEURSHIP
    • FAMILY-DOMINATED: STRICT BLOOD RELATIONSHIP
    • 3 TYPES OF CHAEBOL OWNERSHIP
      • DIRECT & SOLE OWNERSHIP – DESCENDANTS OF FOUNDER
      • DOMINATED BY A HOLDING COMPANY
      • INTERLOCKING MUTUAL OWNERSHIP – FOUNDER & FAMILY OWN THE HOLDING COMPANY
critical traditional transitional transformational issues in korean management
CRITICAL TRADITIONAL, TRANSITIONAL & TRANSFORMATIONAL ISSUES IN KOREAN MANAGEMENT
  • INSIDE THE CHAEBOL
    • PRESENTLY - RADICAL CORPORATE RESTRUCTURING
    • ORGANIZATIONAL STRUCTURE
      • OWN MGMT STYLE – “K-TYPE MGMT “– INTERPETATION OF NEO-CONFUCIAN IDEAS + JAPANESE & AMERICAN INFLUENCES
    • UNIQUE BLEND OF WESTERN & EASTERN MGMT PHILOSOPHIES & PRACICES
    • TRADITIONALLY HARD-WORKING PEOPLE
    • CONCEPT OF EUI-YOK PROVIDES INTERNAL DRIVE, MOTIVATION TO SUCCEED & ACCOMPLISH SOMETHING OF VALUE … FROM WHICH THE GROUP OR COMPANY CAN BENEFIT
    • CONTRASTS WITH PROTESTANT WORK-ETHIC OF INDIVIDUAL PERFORMANCE
critical traditional transitional transformational issues in korean management1
CRITICAL TRADITIONAL, TRANSITIONAL & TRANSFORMATIONAL ISSUES IN KOREAN MANAGEMENT
  • INSIDE THE CHAEBOL
    • NEO-CONFUCIAN VALUES
      • ABSOLUTE LOYALTY TO HIERARCHY
      • TRUST BTW FRIENDS & WORKING COLLEAGUES
      • ALLIANCE & RESPECT TO PARENTS; ORDERLY, CLEARLY DEFINED CONDUCT BTW CHILDREN & ADULTS
      • SEPARATION OF HUSBAND & WIFE IN TERMS OF ACTIVITIES
    • CORPORATE CULTURE – SAHOON – K-TYPE MGMT
      • TOP-DOWN DECISION-MAKING, PLANNING, COORDINATION
      • AUTHORITARIAN, PATERNALISTIC LEADERSHIP
      • HARMONY-ORIENTED CULTURAL VALUES - INHWA
      • CENTRALIZED MANAGEMENT
      • FLEXIBLE LIFETIME EMPLOYMENT
      • COMPENSATION BASED ON SENIORITY & MERIT
      • HIGH WORKER MOBILITY
critical traditional transitional transformational issues in korean management2
CRITICAL TRADITIONAL, TRANSITIONAL & TRANSFORMATIONAL ISSUES IN KOREAN MANAGEMENT
  • HUMAN RESOUCE MGMT
    • RECRUITMENT & TRAINING
      • 3 CATEGORIES OF EMPLOYEES:
        • CORE – TOP MGMT
        • BASIC – PERMANENT STAFF
        • TEMPORARY
      • MOST HIRING IS DONE THROUGH WORD-OF-MOUTH
      • JOBS ARE NOT CLEARLY STRUCTURED, NO JOB DESCRIPTION
      • IN-HOUSE TRAINING - FOCUS ON MOULDING & NURTURING TOWARD BLENDING WITH COMPANY’S CORE VALUES & CULTURE
      • EXPECT UNRESERVED COMMITMENT TO THE COMPANY
    • COMPENSATION & PROMOTION
      • BASED ON SENIORITY & MERIT
      • PERFORMANCE APPRAISAL IS DIFFICULT
      • PROMOTION IS BASED ON SENIORITY, PEFORMANCE, PERSONALITY, FAMILY RELATIONSHIPS, SCHOOL & REGION