Management principles as the core DNA of a company.

 Management principles can be seen as the core DNA of a company. They are the most fundamental rules that reflect the company’s intrinsic values and philosophy, and they serve as the basis for all decisions and actions. They determine the reason and direction of the company’s existence, and thus, they present a common goal that all members should share and practice.

 Management principles clearly show the company’s intrinsic values and philosophy. They play an important role in making the company’s vision a reality. Management principles provide a clear direction in uncertain environments, and enable consistent management activities. Despite the changes in the external environment, management principles maintain consistency while providing independent judgment and operating standards. Management principles are like a compass, and their importance is recognized more when things are shaky.

 Then, let’s look at some examples of how successful companies have used management principles to grow. Apple, Google, Homeplus, and Amazon are such examples.

Apple: Innovation and design

 Apple is a company that operates according to the management principle of focusing on innovation and design, and this principle has deeply rooted in all of Apple’s products and services, as well as its organizational culture. This management principle has greatly contributed to Apple’s position as one of the world’s best companies. This management principle is clearly manifested through their product and service development, and it provides direction to their talents. As a result, Apple has differentiated competitiveness in design and technology aspects from other companies.

Google: User first

 Google has led the market by providing customized services to millions of users based on the management principle of “user first”. This management principle also played an important role in respecting users’ personal information and gaining their trust. Accordingly, Google was able to quickly respond to users’ needs and changes, and spread a culture of prioritizing user experience throughout the organization.

Homeplus(Tesco): Better, Simpler, Cheaper, Faster

 In the past, Homeplus pursued customer value-centered management based on the management principle of “Better, Simpler, Cheaper, Faster”. This management principle pursued the best quality, reduced complexity, minimized costs, and realized fast decision-making and execution. Through this management principle, Homeplus met customers’ real needs, and provided them with the products and services they needed quickly and effectively, thereby attracting customers’ trust and satisfaction.

Amazon: Customer-centric

 Amazon has maintained a customer-centric management principle, and through this, it has grown into the world’s largest e-commerce company. Amazon’s management principle always thinks of customers’ needs as the top priority, and encourages them to constantly challenge and innovate in the direction of enhancing customer value. Thanks to this management principle, Amazon maximized customer satisfaction, and provided genuine value to customers around the world through various products and services.

 However, it is not enough to establish management principles. Management principles should be shared and practiced within the organization, and for this purpose, a systematic organizational operation system should be established and continuously improved. This system and system work as a concrete way to realize management principles, and support all members to pursue common goals and take consistent actions.

 In this way, management principles are not just sentences written in words. Management principles indicate actual action directions that express the company’s reason for existence, value, and culture, and it is essential for the company’s growth and development to continuously practice them. In fact, acting according to management principles is not an easy task. Sometimes it may be difficult to maintain management principles consistently in situations or decision-making processes that the company faces. But adhering to management principles and practicing them increases the credibility of the company, motivates its members, and ultimately becomes the driving force for the company’s sustainable growth.

 Management strategy based on management principles is an important factor for the survival and growth of a company. Because it concretizes the values that the company pursues, and provides a way to achieve the company’s vision. If you do not set up a strategy based on management principles, the company’s actions may become confusing and lose efficiency.

 In addition, management principles connect mission values ​​and corporate culture directly with strategic execution. This expresses mission values ​​and corporate culture inherent in members as concrete ways of working. In the end, companies must pursue sustainable management based on management principles and realize a socially contributing management method.

 Therefore, management principles are basic rules that must be maintained consistently, and based on this, the company’s management is independent and creates a balanced and customer-centric organization. To do this, companies must set management principles that reflect their core values ​​and vision, establish strategies based on them, and have a system to help organizational members understand and practice them. By doing so, companies can move forward with a more solid and certain step toward the future.

 Finally, these management principles also affect not only the inside but also the outside of the company. The more external stakeholders such as customers, partners, and investors understand and empathize with the company’s management principles, the more trust and support the company can receive from them. Therefore, companies should clearly communicate their management principles and practice them, thereby maintaining good relationships with external stakeholders and ultimately increasing the value of the company.

Therefore, establishing and practicing management principles is a very important factor for companies to not lose direction depending on the situation, to grow steadily, and to gain trust from customers and stakeholders. Companies should concretize their values ​​and vision through management principles, prepare strategies to implement them, and have a system to help organizational members understand and practice them. By doing so, companies can move forward with a more solid and certain step toward the future.