The Samsung Way: Transformational Management Strategies from the World Leader in Innovation and Design
Publication Date 1 Sep 2014
OverviewLearn how to manage, lead, and succeed ...the Samsung way. Based on ten years of research and interviews with 80 top executives, the award-winning The Samsung Way is the first definitive guide to the groundbreaking management principles that transformed a lagging electronics company into one of the most successful brands in the world. Combining professional insights from Samsung insiders with practical applications for managers, executives, and CEOs, this powerhouse of a book shows you how to: speed up decision making and execution, on a bigger scale; create a convergence synergy among diversified businesses, while staying competitive in core businesses; and mix and match Western and Eastern management styles. Also known as "The Three Paradoxes of Samsung Management," these seemingly contradictory goals are the keys behind Chairman Lee Kun-Hee's now-famous New Management Initiative - the business plan that drove Samsung to become the number-one leader in mobile phones, televisions, semiconductors, and other electronics. A revolutionary - and time-tested-approach to innovation, Samsung's management principles will help you find the perfect balance of styles by combining the best of all worlds. This ingenious step-by-step guide shows you how to implement Samsung's proven techniques for grafting American business practices onto a Japanese system, thus keeping costs low and bringing about differentiation. You'll learn how to achieve both economies of scale and speed in this era of a hypercompetitive world. Best of all, you'll drive new ideas and innovations at every level of your company while building on your greatest strengths and successes. That's The Samsung Way. Praise for The Samsung Way: "To remain competitive in today's global marketplace, GE must benchmark itself against the best run companies in the world. Samsung is one of these companies. This insightful book outlines Samsung's formula for success and is an important read for any executive or leader who wishes to implement a similar plan in their own organization." (Jeff Immelt, Chairman and CEO of GE). "If I were to be asked about how Samsung Electronics became successful, I would confidently recommend The Samsung Way in lieu of a response. As CEO of Samsung Electronics, I am still amazed by the insightful analyses and explanations given here. This book led me to reconsider the direction of Samsung's future strategy." (Oh-Hyun Kwon, Vice-Chairman and CEO of Samsung Electronics). "A firsthand glimpse of how an unlikely laggard in emerging economies became a global power to be reckoned with. This informed, readable book will help you understand what management innovation is really all about." (Rita McGrath, Professor, Columbia Business School, and author of The End of Competitive Advantage). "Samsung has emerged as the most intriguing, and to its rivals most threatening, global company from Asia. This book provides both detailed insights into how Samsung rose to global prominence and developed a new management model, transcending contradictions to combine the best from East and West. A fascinating read!" (Yves Doz, Solvay Chaired Professor of Technological Innovation, INSEAD). "This is the first in-depth, behind-the-scenes look at how Samsung achieved its current success as one of the world's foremost corporations. It will be of great interest to executives, managers, and companies who need to upgrade their game to world-class status and beyond." (Pankaj Ghemawat, Anselmo Rubiralta Professor, IESE Business School). "The herculean efforts of Professors Song and Lee go some distance in demystifying the secrets of The Samsung Way. There are lessons here for the behemoths of the developed world, as well as tomorrow's challengers from the emerging world." (Tarun Khanna, Jorge Paulo Lemann Professor, Harvard Business School).
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