19 Nov SUCCESS LESSONS FROM KOREA
While producing a video last month in Seoul for a global corporation, it became apparent how much freedom contributes to innovation, creativity and growth. South Korea is thriving as a democracy, an economic powerhouse and the 4th largest economy in Asia. Global companies– really behemoths– like LG, Hyundai and Samsung were founded there and grew with the help of government support from a formula that brought S. Korea out of poverty after the war.
Meanwhile, relatives living in hopeless poverty under intransient dictators in the North are denied the freedom to think creatively, innovate and pursue happiness. Not surprisingly, economic growth among citizens is non-existent. While the North half of the peninsula is stuck in despair and decay, the South half thrives.
Less extreme comparisons are apparent at individual companies. It seems that businesses with a management style that encourages creative thinking and innovation are inventing product improvements and growing their bottom line. For example, the client in Seoul manufactures an array of quality home wellness appliances, including high-end home air purifiers, a top seller. One employee came up with an idea to improve it by adding sound therapy to the air purifier unit to help babies and adults sleep better.
The company’s management agreed to build a prototype of the innovative combination of quality air filters with different sounds known to induce sleep. The new, sleek air-sound appliance has been introduced in the US to the most sleep-deprived of people– newborn babies and their parents. Indeed, babies are falling asleep faster and sleeping longer when the unit is turned on. Same with their parents according to their reports.
That’s progress, a win-win-win for company, customer and employee. When employees feel the freedom to innovate and see their ideas implemented, success happens. Taking pride in their sleep product, the company wanted an educational video produced about it as part of their marketing roll out in the US. Video is the best way to show and share a quality innovation.
More about Korea can be seen in the other blogs under the Blog heading in www.multi-mediaworks.com