Hit the target, a comment tied to Korean business. A week does not go by without a colleague or client expressing deep concern for what seems an overarching and singular need for their company to reach their sales numbers. To most, despite a number of vital business initiatives, they feel the monthly demand to meet “Plan” is all that matters.
I can recall more than a decade ago while mentoring a new American divisional vice president being pulled aside by his Korean expatriate counterpart, an Executive Coordinator. The Korean obviously under duress and knew I understood the company as well as HQ expectations.
The Korean asked passionately for me to stress to the new American VP they needed to Hit the Target. He repeating the phrase, 3 times so to ensure I got it… then patting me on the back before sending me over to the adjacent office with the VP.
Frankly, as long as I have been working with Korea facing global business it has been the driven force.
In another case, I was a speaker at LG’s Mobile national sales meeting. Capping the upbeat and motivating event, the Korean CEO with a huge graph projected behind him shared their amazing unit sales growth over the years. He then added the next year’s “stretch goal” as a hush came over the room. The new goal a huge bump over past years, which had pushed teams and the organization to their limits.
To be fair, this model is not unique to Korean business. It is also the subject of frequent discussion in Korea.
However, South Korea’s modern economy was once rooted in a state-run export-driven model—the government fixing private industries and well as the nation’s overall production and sales quotas in many sectors.
Today despite leading international as well as Korean economic experts arguing the old model is dated and need to move more to the service sector… the export production model still remains a driving force…
In part with so much of the Korean identity, economy and jobs tied to export production the Groups are under pressure to continue to seek growth each year—push the teams even harder.
So what’s the solution?
First, we need to accept this has long been the foundation of Korean business and it has been their proven success model.
It’s part of their Culture and a norm accepted by many.
In turn, others do hope and argue for Korea to re-invent and redefine itself, less focused on growth numbers and more on a being a leader in new technology and innovation synonymous with Silicon Valley.
Care to discuss some additional solutions specific to your needs?
Continuing with our Weekend Reads’, this week we look at supporting Korean expatriate teams, although the lessons apply well for all of us “working within a Culture.
BTW, we welcome consulting and mentoring opportunities to support you and the team. That said, as always if you have questions, feel free to reach out.
And, If you missed a previous “Read,” you can access under Case Studies at
Korea (as well as China, Vietnam, Laos, Singapore and many Asian countries) celebrate two New Years’– one on Jan. 1 and the Lunar New Yearcelebration.
This year the Lunar holiday falls on Thursday February 15 to Saturday February 17 (Korea time).
In Asian tradition, each Lunar new year has an associated animal, as well as a related element and color such as fire (red), water (black), earth (yellow/gold), metal (white) and wood (blue), all which rotate over a 60 year cycle.
And as examples, we see Lunar years’ referred to as Red (Fire) Monkey, Black (Water) Snake, White (Metal) Dragon, etc. and this year Golden (Earth) Dog.
Adding some significance to 2018, Gold is also the color of royalty and many feel adds to even more good fortune.
For us working with Korean teams, it’s a great time to re-connect.
For your Korean colleagues (in Korea), you can wish them “Happy Lunar New Year” by phone, text, or email, late afternoon on Tuesday February 13th (so, Wednesday AM in Korea, which is their last day in office prior to Holiday).
For expat Koreans working outside Korea/ globally, or in your local operations, you can wish then Happy Lunar New Year on Friday February 16 (in the West).
Here is the formal greeting–Sae hae bok mani ba deu say yo
Give it a try. You will find it will be greatly appreciated.
Question, just reach out to me …dsoutherton@bridgingculture.com
Oh, BTW Korea has a twist on Valentine’s Day! This week women give men small chocolate gifts.
No worries, Koreans’ celebrate a White Holiday in 30 days where men give women sugary treats.
I’d like to share the story behind what has become a cornerstone for Hyundai and Kia Motors.
Please enjoy this weekend’s read, “The Hyundai Advantage, Creative Marketing and America’s Best Warranty—The Story Behind”
“A bold creative marketing ’10-year / 100,000-mile Warranty’ program was first introduced in the U.S. in 1998…not by Detroit’s Big 3 or the growing number of Japanese brands, but by Korean automaker Hyundai Motor.”
In my trip to SoCal this week, and KMA, HMA, GMA, MPA and HCA, many were asking about previous Weekend Read 1-4. No problem, go to: Case Studies
This week’s read (about 27 pages) is Hyundai and Kia Motors: The Early Years and Product Development.
Reaching back to the early 1960s, we will look at the political and economic forces long impacting the industrial growth and development of South Korea, including automakers Hyundai and Kia Motors.
In addition, we find the roots for the Korean export model where brands like Samsung, LG, SK and Daewoo also followed in partnered with global companies for technology and design prior to expanding rapidly in the domestic Korea and international markets.
I see this trend continuing even today… perhaps more so than ever.
Korea business insights. In addition to a number of books, case studies and commentaries I’ve written several short articles that give snapshots into Korea business.
This week it’s a storyline strongly tied to the Hyundai Motor Group. That said, it’s also very relevant for all engaged and interested in Korea facing business as I provide some deep insights into Korea business DNA.
Weekend Read: Hit the Target–a Korean Business Lesson
Don Southerton and Hit the Target
Hit the target, a comment tied to Korean business. A week does not go by without a colleague or client expressing deep concern for what seems an overarching and singular need for their company to reach their sales numbers. To most, despite a number of vital business initiatives, they feel the monthly demand to meet “Plan” is all that matters.
I can recall more than a decade ago while mentoring a new American divisional vice president being pulled aside by his Korean expatriate counterpart, an Executive Coordinator. The Korean obviously under duress and knew I understood the company as well as HQ expectations.
The Korean asked passionately for me to stress to the new American VP they needed to Hit the Target. He repeating the phrase, 3 times so to ensure I got it… then patting me on the back before sending me over to the adjacent office with the VP.
Frankly, as long as I have been working with Korea facing global business it has been the driven force.
In another case, I was a speaker at LG’s Mobile national sales meeting. Capping the upbeat and motivating event, the Korean CEO with a huge graph projected behind him shared their amazing unit sales growth over the years. He then added the next year’s “stretch goal” as a hush came over the room. The new goal a huge bump over past years, which had pushed teams and the organization to their limits.
To be fair, this model is not unique to Korean business. It is also the subject of frequent discussion in Korea.
However, South Korea’s modern economy was once rooted in a state-run export-driven model—the government fixing private industries and well as the nation’s overall production and sales quotas in many sectors.
Today despite leading international as well as Korean economic experts arguing the old model is dated and need to move more to the service sector… the export production model still remains a driving force…
In part with so much of the Korean identity, economy and jobs tied to export production the Groups are under pressure to continue to seek growth each year—push the teams even harder.
So what’s the solution?
First, we need to accept this has long been the foundation of Korean business and it has been their proven success model.
It’s part of their Culture and a norm accepted by many.
In turn, others do hope and argue for Korea to re-invent and redefine itself, less focused on growth numbers and more on a being a leader in new technology and innovation synonymous with Silicon Valley.
Care to discuss some additional solutions specific to your needs?
Dsoutherton@bridgingculture.com
Http://www.bridgingculture.com
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