The 2014 Asian Games in Incheon ended last Saturday evening with the closing ceremony. It is always pleasant to see the athletes, all representing their countries, do their best for victory. It is incredible the way these athletes undergo a tremendous amount of training as they endure great pain to improve their skills in preparing for the games.
Let me talk briefly about gymnast Yang Hak-seon. As you know, he is referred to as the “god of vault” and has won a gold medal in the London Olympics with techniques that cannot be imitated by anyone else. Yang did not settle for that; he continued to polish up more difficult skills and has maintained his position as the world champion. However, he won a silver medal in the Asian Games because of injury. Even for the best athletes, it is tough for them to maintain their place at the top.
The world market that we are facing is not much different from the world of sports. The competition becomes more intense day by day; and the moment we hesitate even for a second, we may be squeezed out of the market by the current leaders and the newly emerging latecomers. We must always pursue change and innovation, remembering that there is no summit in the global market, but only higher places. Michelin’s wide single tires are innovative truck tires that represent a typical case in which the company provided the value desired by customers through change and innovation. Generally, heavy duty trucks are equipped with a set of two tires to bear the heavy load. A wide single tire is a product that can single-handedly replace two tires by increasing the width of the tire. Using this product will reduce the tire price as well as fuel efficiency and maintenance costs. Moreover, it will provide great benefits for customers, increasing cargo capacity by making the tires more lightweight.
When Michelin first developed this product, its goal was to sell a million in 10 years in North America alone. However, the market response was much greater than expected, selling 2 million in only 4 years. Currently Michelin is receiving a rush of sales orders from customers all over the world. As a company with 126 years of history, Michelin is maintaining its reputation as the world’s best tire maker. And yet the company does not settle for the reality, but pursues endless changes by seeking the customers’ desires and developing differentiated products. This may be the secret to becoming the world’s most renowned company.
I would like to say to our dear Hyosung employees that there is a saying, “There is better, but not best”. We must become a company that enhances customer value by constantly providing improved products that will help their businesses. It is necessary to do our utmost to endlessly seek innovation so that our clients can acknowledge ‘Hyosung’ as the best partner.
Only three months are left of the year 2014. Please concentrate all your competences in doing your best to achieve the goals until the end.
Please take good care of your health in this change of seasons. Thank you.
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