Samsung To Pursue a ‘Start-up’ Culture

Reuters: “Samsung Electronics, the world’s biggest maker of smartphones and memory chips … plans to adopt a corporate culture akin to a startup, seeking to become more nimble as growth slows. Samsung’s executives will sign a pledge to move away from a top-down culture and towards a working environment that fosters open dialogue.”

“Hurt by a rapid decline in smartphone profits and the absence of new businesses to drive growth, Samsung has been under pressure to reform its military-style working culture to foster innovation … Other moves in recent years to ease a rigid corporate culture include flexible working hours, a loosening of dress code requirements for weekend work and less pressure on employees to attend after-work drinking sessions that have long been a staple of Korean corporate life.” Samsung “will also reduce unnecessary overtime and weekend work and push employees to spend time with their families or take advantage of learning opportunities.”

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