The founder of the large Korean corporation Samsung Electronics managed to increase the profitability of his company by as much as 1,400%. How did he do it?
Yun Jong-yong – founder of Samsung Electronics
First of all, Yun Chen Yong made a clear plan for the company's development. Here are the points of this plan:
Introduction of new rules. Strict resource savings were ensured, divisions with zero profitability were eliminated, and overall the company's expenses were reduced by 30%.
Developing new products why choose our service instead of selling outdated models , updating the staff of management positions in the development department, expanding the geography of employees. As a result, the company acquired young and ambitious specialists who brought with them original and fresh ideas. Fundamentally new models of laptops and smartphones began to be developed.
Formation of modern corporate values and their implementation in the team. The level of cooperation in the company divisions has reached its maximum. Now such words as "digital" and "convergence" are in trend. Samsung began to strive for world fame, changed its image - the company's products began to be sold exclusively in elite stores, and not in supermarkets. Sponsorship of the Olympic Games also had a positive effect on the reputation.
To put it simply, here are the main rules of Samsung: a constant desire to be a market leader, a refusal of any compromises, a course towards continuous development and innovation.
Alexey Miller
The head of Gazprom managed to ensure the corporation's global fame, while increasing profitability by 2,000% (or $100 billion). The post-Soviet space can also boast of successful world-class managers.
Alexey Miller – head of Gazprom
Miller's principles that led his company to success:
Continuous development. Gazprom enterprises are constantly progressing. New gas pipelines are being built, new deposits are being continuously explored, and measures are being taken to produce liquefied gas.
Focus on the West. Miller focuses primarily on the European and world markets. Gas is actively supplied to Western consumers, but at the same time, contacts are being established with potential Asian partners. A gas pipeline to Turkey is being built.
Corporate culture of the company. Much attention is paid to the personnel. Employees are guaranteed high wages, a full social package. Conditions have been created for Gazprom employees to engage in sports. There are even successful sports teams of their own.