Analyze the Managerial Accounting Essay
Not everything that can be counted counts, and not everything that counts can be counted.Albert Einstein LG Electronics, Inc established in 1958 and has its headquarter in Seoul, South Korea is one of the leading companies in the world which produces electronic and communication devices, IT productions.LG which stands for “Life’s Good” determines what the company is striving for.
One of the main aim of LG Electronics is ensuring to make the dgigtal life better for its customers. Eco- Friendly Life’s Good- When It’s Green”- this is a program of LG Electronics which includes two parts of procedures: pre- production and post-production. In thir vision, it is estimated that 15, 000 tons of pre-production and 30, 000,000 tons of post-production stages of green gases should be reduced as their target in the near future. LG’s 47LW5500-ZE and 47LW550 TZCIN Ema 3D TVs have been announced the first Tvs in Europe which have the Carbon Trust enalbles to manage a low carbon footprint labeling scheme.
Bi- Geunkwo, head of LG’s LLOCO TV Lab. Says that it was their crucial achievement in having environmental brand image. In it’s future vision , the company goes on supporting to produce more- eco-friendly, low-coal goods. In contrast, Samsung also tries to have an eco-value status and has made plans to achieve environmental sustainability [pic]. Environmental Sustainability Strategy As can be seen from the above five strategies, Samsung SDI could manage to include suppliers and customers in this chain. Customer Satisfaction
Producing reliable productions is the basic principle for both companies. In oreder to compete in the 21st century business world, they try to be reliable for their customers and one of the feaututre of Balanced ScoreCard helps them to meet customer requirements and getting to know their needs. Samsung SDI itself, held more than 385 surveys about its prodects, safety and customer satisfaction. In their website, they announced that in 2012 they are still trying to have the best inspection ever about the safety and reliability.
Samsung SDI could do a lot in 2011 in that respect. They held Customer Voice program, and tried to respond their customers within 13 days from the initial day. It could be improved by 40%, which was only 20% in previous year. Besides, they have customer-point-deparment which solves the problem of customers. All up, Samsung is planning to go on with this development in the future to improve the satisfaction rate and decrease the number of complaints. LG is trying to have a philosophical approach here.
According to Chang Ma, the head of the Marketing Strategy Team who directed the LG Chocolate’s successful global launch, LG’s “industrial designs will incorporate a balance between concept creation and lifestyle creation, so that the needs, desire and dream of the customers must feature prominently in the overall value innovation process” (Screenshots, 2007/ source: Strategic Management of Technology Professor Woody Wu )> Employee Human resource , or any are- be it marketing, finance, or manufacturing- deserves more attention and resources if and only if it creates value. Prof. Dave Ulrich, 2005). In is article he said that human capital is important intangible asset for creating a value. A company can influence, but not control, employee’s expectations and perceptions of the firm- two factors that largely drive their behavior, how hard they work, how well their actions support the firm’s interest and ultimately whether they will continue working for the firm. In order to meet the balance of individual development and company development Samsung SDI is trying to give the best it an afford to its employee.
Samsung values and Samsung Business Principles of human rights tries to increase the employee satisfaction. The company has the slogan of “ Talents create the future’ which visualize their targets in that respect. Company Rating Distribution In LG Electronics Very Satisfied 14 Satisfied 25 Neutral – OK 42 Dissatisfied 26 Very Dissatisfied 6 In the survey conducted in LG company almost one fifth of the workers showed that that have enough excellence at work. More than half of the workers illustrated enough satisfaction.
And to some extent of the surprise, another quarter of them said they feel dissatisfied. LG company wants to make itself “ The people Company”. Now the company is trying to gives its best to the recruitment and provide life-long learning to its employees to reach their maximum potential. Since 2007 LG electronics has done PBL- Production Business leader and RPL- Regional Production lEader business course to train its staff. [pic] Resource and Development LG Electronics could feel the importance of innovation and the research development to meet the customer’s needs.