In this issue, I would like to first talk about the Hubble Space Telescope, which acts as an observer moving around the earth orbit. Hubble is a large space telescope carried into the space in 1990 by NASA, after 19 years of production and the huge investment of KRW2 trillion. It continues to film and send mysterious space images until today.
However, when the Hubble Space Telescope was first installed, a serious error occurred in taking a photo, which bewildered the stakeholders. The cause was a small flaw in the reflector, which is a major component of the telescope. NASA had to fuss over launching a space shuttle and repairing it, spending a large amount of money in the process. At the time, the NASA stakeholders strongly demanded shortened schedule and reduced costs of their partner. Moreover, they maintained a coercive attitude, requesting the manufacturer to ‘just do it’ and not listening to the technological difficulties. As a result, the partner worked to meet NASA’s demands, not thoroughly informing NASA about the small flaw. NASA later found out about it, and admitted that it was their fault as much as the manufacturer’s.
Our company cannot carry out the processes of procuring raw and subsidiary materials, producing products and selling them all by ourselves. We are working by forming relationships with various parties such as partners that help us, clients that purchase our products based on trust, and many potential customers that are likely to start good relationships with us someday.
It is frequently found that employees with great performance have good fellowship with various customers and partners. When meeting someone, they do not let business take precedence; instead, they consider the other party as a companion to prosper together, and try to find ways to achieve ‘Win-Win’ for all. They consider the partner a ‘friend’ with whom they can have fun and overcome difficulties, rather than a ‘somebody’ with which they do business. Forming such relationship with clients and partners will be the foundation for us to help one another and succeed together in the long run.
Today, many people use the expression ‘business ecosystem’. This indicates ‘an organic connection of large companies, SME’s, government systems and financial support like the natural ecosystem’. In the natural ecosystem, the whole system falters if even a single component out of many is missing or overflowing. We can easily see cases in which the ecosystem is threatened by Korean tigers that became extinct due to natural destruction and overexploitation, or bullfrogs that disturbed harmony of the ecosystem as the main culprit of destruction with no natural enemies. Business ecosystem is quite similar.
If you cause damage to your partners for your own benefit or do not provide products and services with satisfactory quality for your clients, the damage comes back to you. If our partners’ technology and management stability improve and our clients receive value with better quality and service, we ourselves will be the biggest beneficiary.
When Hillary Rodham Clinton visited China as the Secretary of State in 2009, she quoted the saying of the ‘Same Boat, Same Direction’ in The Art of War: “We are in the same boat and, thankfully, we are rowing in the same direction.” This indicated that the U.S. and China must be in the same boat and cross the river together, and thus they must cooperate to achieve bigger goals despite different interests. In the business perspective, the interests of our company, partners and clients may be different. If we divide the limited profits, it becomes ‘zero-sum’; but if we expand our profits by cooperating, we can all achieve ‘Win-Win’.
I hope Hyosung members will take a look at the big picture so that we can create a synergy effect and prosper together in good relationships with our clients and partners. I expect all of you to do your best to make this accomplishment.
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