The LG Way is a unique management philosophy that has been passed down through generations of LG managers and employees. Starting from the company's establishment, the LG Way has continued as an embodiment of the spirit of LG's vision, its experiences and management expertise accumulated over its history. Accordingly, the LG Way is the foundation for thought and action that every LG member should observe and practice.
Simply put, LG Way is the call to becoming a premier company; hence the essence of its strategic vision is embodied in No. 1 LG. At its foundation are the management principles of Customer-Value Creation and People-Oriented Management, which are in turn implemented according to the high ethical standards of behavior delineated by Jeong-Do Management.
- To Customer A trustworthy brand that provides best products and services
- To Investors A secure investment that yields sustained high returns
- To EmployeesA great workplace that talented individuals want to join
- To Competitors
A leader that dominates, but a leader to learn from
- Customer-Value Creation
- In order to achieve No. 1 LG, it is imperative that we deliver superior, differentiated customer value and do so continuously and reliably. Customer-Value Creation is not only our primary management principle, but it is our reason for being in existence. Customer-Value Creation is an absolute goal that cannot be compromised. Damaging customer value for temporary gains in sales or profit shall not be tolerated.
- Customer-Value Creation is compromised of three components:
- Customer-FirstThink of customers as the top priority-the starting point of management. Make decisions with the emphasis on the end-user.
- Delivery of substantive valueBe one step ahead in finding latent customer needs. Provide the best products and services that exceed customer expectations
- Innovation-driven creationCome up with differentiated ideas that step "outside the box." Always look for and practice better methods and practices
- People-Oriented Management
- People are the key enablers of a firm's ability to provide differentiated values to customers. People-Oriented Management, therefore, calls on individuals to fully maximize their potential capabilities so that they can play leading roles in creating customer values. Each LG Member is and always will be respected as a unique human being. LG members will be provided with meaningful opportunities to demonstrate their capabilities and realize their full potential and dreams at LG.
- People-Oriented Management is comprised of four key elements:
- Self-management and creativityTake ownership in all matters and take initiatives Break free from conventional ways to pursue new ideas and think outside the box
- Respect for human dignityRespect diversity and dignity of individuals Consider people as the most important asset
- "Jeong-Do" Management
- Jeong-Do management is more than ethical management. It embodies the uniquely LG values that emphasizes constantly cultivating capabilities so that we can fairly compete and win in the market.
- Jeong-Do Management is composed of three components:
- IntegrityWork transparently according to principles and standards
- Fair transactionProvide equal opportunities and fair treatment in every transactional relationship
- Fair competitionImprove capabilities with which one can fairly win the competition