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![CEOMESSAGE
CEO
BrianKwon
8
KEYDIRECTIONSIN 2020
“
…digital transformation [is the] key[to]
creating new growth momentum …
.
”
“Our long-term goal andthe essence of
our competitiveness is creating a company
truly loved bycustomers.”](https://image.slidesharecdn.com/721innovationtalk-210425084652/85/721-innovation-talk-8-320.jpg)
Uploaded byCherie Pink
721 innovation talk
LG Electronics provides a wide range of consumer electronics and aims to become the number one recognized and respected company in its industry. It has a long history dating back to 1958 and operates in over 80 countries worldwide. LG utilizes its strengths in product variety, distribution network, and manufacturing capabilities to create value for customers through innovation.
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721 innovation talk
- 1. 1 Presented By SIRAPORN CHAUNPRASERT632132006
- 2. Contents 3 Developing the venture Making thenew innovation Entrepreneurial goals and context Finding the resources 1 2 5 6 4 Recognizing the opportunity Creating the value
- 3. 1.Entrepreneurial goals andcontext
- 4. MANAGEMEN T PHILOSOPHY CUSTOMER EMPLOYEE INVESTOR COMPETITOR LGWAY VISION Whatwe ultimately aspire to achievethrough Jeong-Do Management and its two tenets Customer-Value Creation and People-Oriented Management is to become No. 1 LG, a market-leading company recognized and respected by industry peersaswell asthe broader market. 4
- 5. HISTORY ALookat LGElectronicsThroughtheYears 1958 Goldstarfirst company ofwhatwill later becomeLGElectronics 1966 ProducesKorea’s first TV 2001 Introducesworld’s first refrigerator powered by Inverter Linear Compressor 2013 LaunchesVehicle ComponentsCompany 2014 Introducesworld’s first 4K OLEDTV 2016 Launchespremium LGSIGNATUREbrand 2019 Introducesworld’s first Rollable OLEDTV 1995 Rebrandsas LGElectronics 1982 Establishesfirst overseasproduction basein the US 2011 IntroducesStyler, world’s first steam-powered garment care system 1978 SurpassesUSD100M inexports 2015 Introducesworld’s first TWINWash 5
- 6. LGQUALITYPHILOSOPHY 6 Thequality philosophyof LG’sfounderhasbeenthe foundation for raising the consciousnessof LGElectronics employees “ If 1 out of 100 isfoundto bedefective, then wemust assumethere aredefectsinthe other 99. Sellingmanyproductsisnotin our best interest if that oneproductisnot the right product. It shouldbecommonsensethatcustomer trust ismorevaluablethan profit.” KooInHwoi 1907-1969 LGFoundingChairman
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- 8. CEOMESSAGE CEO BrianKwon 8 KEYDIRECTIONSIN 2020 “ …digital transformation[is the] key[to] creating new growth momentum … . ” “Our long-term goal andthe essence of our competitiveness is creating a company truly loved bycustomers.”
- 9. SWOT Strengths Great Variety ofElectronics: LG Company offers its customers a wide range of goods related to electronics. For example, One can find anything he/she wants to purchase in one brand store, where the focus is on quality. Wide Distribution Network: LG makes its products available in more than 80 countries in the world, utilizing distribution sources of the partners. In aid of this means, the company has introduced the Glo-Cal Strategy, which means be Global act Local in order to market the goods. A Top Electronics Manufacturer: LG is one of the top lists of Mobile Manufacturers globally. It has been purchased and rotated by virtue of its simple design, easy to use the opportunity, technologically advanced, and reliable facets. Opportunities Market Development: There are still many locations and subsidiaries that the company can enter and establish its market there. Making goods accessible in more societies will surely nurture the growth rates. New Pricing Strategy: As LG can produce a new good or a new category of existing items, it can exert flexible pricing strategies. This will ensure their customers’ fairness and attract new clients to generate a new breath of growing sales. Collaborative Partnership: As the company has always been included in varying partnerships with advanced technological companies, it still has a chance to make further cooperation with different infrastructure corporations. Due to applying this opportunity, both companies will be able to share their experience in fast-developing industries. Weaknesses The lack of Cash Cow: LG Company does not have a constant venture that always has a high demand and sales. In business jargon language, there is no cash cow in the electronics company. Management skills: By virtue of its extensive market share in white and brown goods, it has not given decent attention and appliance to all the product categories. This causes to lose the market share in TVs and refrigerators’ compared to market leaders. Demand Forecasting: The LG Electronics Company is not prepared well enough for demand and sales forecasting. They always keep high inventory in many of the products. In other words, they still invest in channels. Nevertheless, this prompts to miss a chance of keeping pace with competitors. Threats Government Policies: The company can sometimes meet lawsuits that may be unable to rotate the goods adequately. For example, regulations related to solar and energy conservation or liability claims. As in every country, different laws affect the industry significantly and enforce switching to a new innovative source. Stagnant Urban Demand: LG Company has over-dependence on stagnant urban demand, which is considered to be riskier for the company. The threat to fail in the operations concludes that the growth rate of the stagnant urban market is quite low. Price War: Other competitive companies in this industry are leading ones in the Korean Market. For example, Samsung, Panasonic, Phillips, Electrolux, etc. can beat the company mainly in the price-sensitive and low-income markets. The cost of raw materials and the labor force that is continuously increasing has adverse effects on the company’s profitability.
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- 11. 100% 0% 50% LGCORP HoldingStructure (2019) REVENUE (KRW160 Trillion) 136 USD Billion ExchangeRate: KRW1,176.57 (2019) ELECTRONICS TELECOM&SERVICES 25 CHEMICALS LGChem LGHousehold &Health Care LGHausys LGU+ LGCNS LGInternational 28 LGElectronics LGDisplay LGInnotek 13 11 55% 25% 20% COMPANIES 67Site (2019) 25 Chemicals 13 Electronics 28 Telecom&Services
- 12. GLOBALNETWORK Moscow FRANKFURT DUBAI NEWYORK SAOPAULO Bengaluru KOREA(HQ) Seoul SINGAPORE SantaClara T oronto REGIONALOFFICE AI ResearchLab 74,000 WORKFORCE Korea: 54% Global:46% 142GLOBAL OPERA TIONS (2019 Base) 12 LGEConsolidatedBasis,IFRS Unit :USDBillion ExchangeRate :KRW1,176.57 (2019) 2019 Sales 53.0Billion OperatingIncome USD USD 2.1 Billion
- 13. STRUCTURE CEO H&A HomeAppliance&Air Solution HE HomeEntertainment MC Mobile Communications VS VehicleComponentSolutions BS BusinessSolutions • North America • LATAM • Europe • Asia • Middle East &Africa KoreaSales & Marketing Company COMP ANIES REGIONALOFFICES 13
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- 17. LGSIGNATURE First introduced in2016, LG’spremiumbrand lineup expandedto includeOLEDTVR, OLEDTVW,Refrigerator, Bottom-freezer Refrigerator, Wine Cellar,TWINWashPair, Air Purifier andAir Conditioner 17
- 18. ROBOTSASASOLUTION With today’s robotscapableof handlingtasks in manufacturing, hospitality and healthcare, there isnolimit to what tomorrow’s robotcando 18
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- 26. 6. Making thenew innovation
- 27. Level1 Efficiency Level2 Personalization 27 Level3 Reasoning Level4 Exploration AI DEVELOPMENTROADMAP Theconceptualframework alignswith the LGThinQbrand andits ambitious visionto transform the dailyexperienceexplainedin four levelsof AIexperience
- 28. AI-POWEREDCONVENIENCE LGThinQprovidesmoreseamlessmanagementof LGproducts witheasycontrol andmonitoring features 28
- 29. KITCHENAPPLIANCES Well-known for durabilityandenergyefficiency, LGkitchenappliances offer asuperiorkitchen experiencewith innovative technology suchasLGInstaView 29 H&ACOMPANY
- 30. LIVINGAPPLIANCES Pioneeringthe industry forits incomparableinnovative features, LGliving appliancesoffer unrivaled clothing careandcleaningperformancesuchasArtificial Intelligent Direct Drive™ H&ACOMPANY 30
- 31. CARESOLUTION LG’sair careandclothing caresolutionsarecertified byinternational organization for their effectiveness in sanitizing,reducingallergensandenergyefficiency H&ACOMPANY
- 32. REAL8K LG8KTVsexceedinternational requirements forContrast Modulation, the ability to distinguish aseriesof blackandwhite lines HECOMPANY BelowThreshold 32 CT AThreshold LG8KTV CM90% CM50%
- 33. 8K OLED&NANOCELL OLED8K andNanoCell8Kdeliverfourtimes the screenresolution of 4K and16 times that ofFullHD HECOMPANY 33
- 34. UltimateLuxury LGSIGNATUREOLEDR World’sonly rollable TVredefinesthe definition of televisionwith aversatileform factor madepossiblebyindustry-leading OLEDtechnology HECOMPANY 34
- 35. LGV60 THINQ5G&DUAL SCREEN Ultra-Sharp20.5:9 Ratio 8K Videorecording / 4Ch mic / 5,000mAhbattery LG’snewest Vseriessmartphone delivers5G,moreadvancedLGDualScreenandrobust battery for maximumusability MCCOMPANY 35
- 36. QuadCamera 6.5-inch Standard SuperWide Depth Macro Durable MCCOMPANY KSERIES Quadcamerasoffer enhancedmultimediaexperiencein anunbeatable package 36
- 37. FUTUREMOBILITY Innovation Partner for FutureMobility e-Powertrain Infotainment IntelligentDriving Software VehicleComponentSolutionsCompanyfocuses oncommercializingand environmentally responsible automotive components andcoresolutions basedonLG’sproprietary technologies Connectivity VSCOMPANY 37
- 38. LEDSIGNAGE Wide rangeof indoorandoutdoor LEDSignagetailored for everyindustry to create eye-catching viewingexperience PremiumFine-Pitch LED OutdoorLED Transparent LEDfilm LEDCinema BSCOMPANY 38
- 39. SOLARPANEL LGNeON®Risapremiumsolarpanelthat makesahomeevenmorevaluable,both economicallyand aesthetically TechnicalFeature More Power perSquareMeter Product Warranty Visually Stunning Better Performance on SunnyDay Deliverspremium Front Rear Performance Warranty Eliminates electrodes on the front of cells BSCOMPANY blackframe 39
- 40. PORTABLECOMPUTING LGgram offers ultimateportability andenhancedperformance • 17-inch WQXGA IPS • 10th Gen Intel® Core™ processor with Iris® Plus graphics • Light Weight at just1350g • 80Wh BatteryCapacity Ultimate Portability Best Performance BSCOMPANY
- 41. MONITORS& PROJECTORS Deliveringexceptionallybright andclearimagesandsuperb black level, enhancingthe viewer’ssenseof immersion 21:9 WideScreen 4K / 5K UHD / IPS1ms Thin / ZeroClient Medical Monitor &DXD LGCineBeam 4X UHDProjector BSCOMPANY 41
- 42. SUSTAINABILITYCOMMITMENTS PROMOTEINTELLIGENT LIFESTYLE ACHIEVEZEROCARBON ANDCIRCULARECONOMY CREA TEABETTERSOCIETY • Establish IntelligentLiving Environment • PursueHealthy Life for Customers • Establish Sustainable Supply Chain • Establish Decent andSafeWork Place • ExpandGreenBusiness • PursueZero Carbon • Promote CircularEconomy • Reducethe Environmental Impacts of Products • ExpandContribution to the LocalCommunity 42
- 43. GLOBALSOCIALCONTRIBUTION LGconducted environmental conservationpoverty eradication,educational andvolunteer activities with our employeesandcustomersat 56sites in 28 countries KOREA GlobalIT Challengefor Disabled SWEDEN Bike to Work NIGERIA FreeLaundry Service BANGLADESH Technical TrainingProgram RUSSIA BloodDonation USA Experience Happiness INDIA EyeSurgery Program Nigeria Europe Russia India Bangladesh Korea USA 43
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