Volume 2 Issue 42

1
Volume 2 Issue 42
October 10, 2005
CEO Message
Challenge Yourself for Great Results
To succeed, a company must be filled with
employees who continually challenge themselves
with high goals. Real failure occurs for those
who neither succeed nor fail. This means they
have never challenged themselves with tough
goals. These types of people not only lose
meaning in their personal lives, but also do not
contribute to the growth of the company.
From the Oct. 2005 CEO Message
Vice Chairman and CEO LG Electronics
LGE Pride
LGE Beats Analyst Forecasts with Strong Results
Last week, LG Electronics announced
better-than-expected results for the 3rd quarter
of 2005 (July-Sept.). Sales overall were helped
by a rebound of cellphone sales. Profitability
also rose 94 from the previous quarter as both
the DD and the MC companies significantly
improved their profitability from the 2nd quarter
of 2005. LG Electronics stock price (listed on
the Korean stock exchange) bounced up on the news
because the results were much stronger than
financial analysts had been predicting. LGE
forecasts that sales will continue growing
through the end of the year. .
Click to Read Full Story
LGE Develops Time Machine Cellphone
LG Electronics recently announced during the
Korean Electronics Show that it has developed a
time machine satellite TV phone. The cellphone
takes a step beyond satellite TV reception on its
2.2 inch LCD screen, and is the first phone which
will actually record up to an hour of TV. The
biggest advantage is that users who are
watching TV will not miss anything when they stop
to receive a phone call. The phone will
automatically continue to record the TV broadcast
from the point it was interrupted. Then when the
phone call finishes, it will automatically start
the broadcast, from that same point.
.
LGE WAY
LGE WAY Everyday
LGE WAY Everyday
Right People Achieving Great Results in Greece
T
he LGE WAY describes Right People as creating
outstanding performance by setting and achieving
challenging stretch goals. This
describes two employees of LGEHS in Greece who
helped LGE achieve the highest market share of
any company in the computer monitor market. Jay
Woo, the product director for the IT Sales
Department (ISP), and Zafiris Psaradelis, a sales
manager in the ISP department, set the stretch
goal of achieving the top spot in Greece 18
months ago. Then they used determination in
working with retailers and dealers to improve
LGEs market share. They also used strong
execution through creating and participating in
several LG Electronic
branding promotions. Finally, they used their
expert competency to intelligently compete with
the other major companies in that market.
Eventually, they achieved their goal in the first
half of 2005, not only becoming No. 1 in the
Greek market in market share (26.8), but more
than doubling their next closest competitor,
Samsung Electronics. LG
Electronics will achieve these excellent results
in all of our operations and locations when all
the employees become Right People.
.
You can submit specific examples of how you, your
group, your division, or anyone around you has
applied the LGE WAY. Entries must be based on a
specific principle in the LGE WAY (click here
for the list). Submit to lgeway_at_lge.com. Your
picture and your biography will be included if
your entry is published..
LGE WAY Article Source
Tasos Tsomanis LGEHS HR Manager
Name Subsidiary Group
Change Challenge
Changing to Excel Despite an Uncertain Future
L
G Electronics can learn about changing in order
to continually create excellent results from many
different companies in many
different industries. Once such is the cigarette
industry. No industry in the world has come under
more fire in recent years than the cigarette
industry. Many companies have suffered as a
result, but one company, the Altria
Group (also known as Phillip Morris, maker of
Marlboro cigarettes), has continued to grow,
achieving 10 growth last year. The company,
which had US89 billion in revenues last year,
did not start frantically investing in any
available company after the United States
government began its extended fight with
cigarette companies. Instead, they decided that
their core competency was to sell unhealthy items
to customers who liked them. Thus after slowly
considering their options, they invested in a
junk-food company Kraft Foods. This allowed
employees to remain passionate about what they do
and continue facing new changes and challenges in
their industry. We need to succeed in
implementing the LGE WAY by doing the same. We
must focus on doing what we have done well in the
past, while implementing the changes in the LGE
WAY to further increase our results to help us
achieve the Global Top 3 by 2010.
.
LGE WAY Knowledge Quiz
What percentage of LG Electronics revenue comes
from overseas operations?
Click Here For the Answer
Published by LG Electronics / Corporate Culture
Group Please refer questions, comments, and
suggestions on content to lgeway_at_lge.com