cnu mba student journal edition vol. 04

CNU MBA Student JournalEdition Vol. 04

MBAHORIZONS

03 Dear MBA 2011 students / Cho, Geon

04 Kumho Buslines as the Regional Company Min, Sang-jun

06 Lencioni Reflection / Oh, Kwang-ho 08 My thoughts on MBA / Kim, Gwang-il

11 Healthcare Marketing / Lee, Seong-hyun

14 How to improve the mass customization for Com pany “A” / Ji, Chang-seob

16 Is Greed Really Good? / Lee, Su-jin

18 Participate in Global business. / Ko, Eun-kang

20 CROCS (A) : Revolutionizing an industry’s supply chain model for competitive advantage Chihab EL ALAOUI

24 Insights of Hinduism / Anesh Sthapit

26 Memories of MBA / Kim, Joo-young

28 Be lost in memories / Kim, Hee-joon

31 Challenge! / Namuun Usukh Ochir

32 HYUNDAI MOTORS Market Potential & Sales Fore-casting in India / Kim, Jing-wan

34 A member of CNU MBA is the key to success Kim, Jae-pil

36 The Blossom of my youth / Lee, Yu-rim

39 MBA Gallery

CNU MBA Student JournalEdition Vol. 04

MBA HORIZONS

CNU MBA Student Journal 4호 발행일 2012. 2. 27 발행처 전남대학교 경영전문대학원 / 광주광역시 북구 용봉로 77 전남대학교 용지관 3층 TEL 062-530-1501

FAX 062-530-1490 발행인 MBA과정 원우회 편집인 민상준, 김형남, 김주영, 김재필 디자인·인쇄 (주)엔칼라스 / 062-228-7777

It is my great pleasure to have a chance to leave some message to you all. As far as I know, the main objective of publishing the wonderful MBA journal, MBA Horizons, is to celebrate your MBA lives by collecting several short stories regarding what you’ve learned and felt during your MBA academic years on CNU campus. First, I would like to express my sincere thanks to all of the MBA 2011 participants for your valuable time and efforts on publishing MBA Horizons. I do believe that it wouldn’t be possible for this issue of MBA Horizons to be published without participants’ passion and devotion. I am so proud of your accomplish-ments.

By the way, how was your CNU MBA lives? Did you improve your problem solving skills as well as academic knowledge about practical business related issues? Did you have lots of fun and unforgettable memories with your classmates? I do really hope that all of you are very satisfied with your CNU MBA lives. Moreover, I expect a bright and prosperous future for you all because I know that all of you have successfully completed a tremendous amount of work with great passion and teamwork at our school.

As you may know, our MBA program earned the AACSB accreditation in July 2012. The AACSB international accreditation represents the highest standard of achievement for business schools. Only the top 5% of business schools worldwide achieved this quality of standard. With the accreditation, you will be able to en-joy having a worldwide reputation as graduates of an AACSB accredited MBA program and career development opportunities in the global marketplace. With highly qualified faculty, competitive programs, a wide network and ex-cellent students, we will do our best so that the CNU MBA program will con-tinually play a key role as a business education hub in this region.

Finally, I wish you all the best as you demonstrate your prowess whether it be within a new career or the continuation of higher learning. I also hope that you can serve as a key ambassador for our MBA program in the future. Good luck to all of you, my dear MBA 2011 students! Thank you very much.

Dean Cho, Geon

Dear MBA 2011 students

I wish you all the best as you demonstrate your prowess whether it be within a new career or the continuation of higher learning.

2012. The AACSB international accreditation represents the highest standard of achievement for business schools. Only the top 5% of business schools worldwide achieved this quality of standard. With the accreditation, you will be able to en-joy having a worldwide reputation as graduates of an AACSB accredited MBA program and career development opportunities in the global marketplace. With highly qualified faculty, competitive programs, a wide network and ex-cellent students, we will do our best so that the CNU MBA program will con-tinually play a key role as a business education hub in this region.

Finally, I wish you all the best as you demonstrate your prowess whether it be within a new career or the continuation of higher learning. I also hope that you can serve as a key ambassador for our MBA program in the future. Good luck to all of you, my dear MBA 2011 students! Thank you very much.

2013 vol.04 http://mba.chonnam.ac.kr + 0302

Kumho as the Company

HistoryKumho Buslines Co, Ltd. started as “Gwangju Taxi” in 1946 with only 2 vehicles. In 1948, the company expanded its business in the transport industry serving with city buses. Finally, Kumho became the industry leader and started an express bus service in 1970 thanks to the first highway construction in Korea.Gwangju Bus Terminal constructed at its current location allowed for premium bus service to be offered to the public in 1992. The company also has extended its business in the Chinese and Vietnamese mar-kets and has kept up successfully to this day. In 2006 and 2008, Kumho merged with Kolon buslines and Songnisan buslines respectively.Today, Kumho Buslines Co which is the biggest in the industry has more than 1,200 buses providing service in Korea and abroad.

Company growth statusThe revenue of Kumho Buslines has been increasing continuously. In 2012, Kumho recorded 514.1billion KRW as total revenue, and its oper-ating profit was 15% on average, which is much higher than the indus-try average. The company is now anticipating total revenues for 2015 to increase to 561.8 billion KRW. However, operating profits are expected to fall by 10% on average due to the increasing cost of fuel and taxation. Moreover, the increasing number of railway customers has impacted the company’s future competitiveness as well as profits. Passengers using railway service have been increasing gradually, while bus passengers have been decreasing rapidly resulting in a 4.5% reduction in annual

Min, Sang-jun

Kumho Buslines as the Regional Company

Min, Sang-jun CNU MBA Student Journal

profits for 2012. Although the number of people us-ing public transportation has decreased since 2000, I believe that Kumho has an effective strategic plan to maintain its competitiveness in the market.

Corporate Social ResponsibilityKumho Buslines is one of the rare companies which have a separate division for Ethical Management in-tegrated into their organization structure. Apart from its customer satisfaction which is primarily focused on the welfare of the company, the firm also realizes its responsibilities towards society. With the aim of becoming a “Beautiful Company” that is respected by society, lives up to its promises, is trustworthy, fulfills its social responsibilities, and makes a contribution to society, its ethical perspective is outlined as “We pledge to act as fine, upstanding people who deliver love, happiness, and a bright future to our neighbors.”In its quest to be perceived as a socially responsible institution, Kumho follows three management princi-ples and activities for a “Beautiful Company:” 1. The company along with employees 2. The company giving trust 3. The company contributing to the society

The Ethical Management Division of Kumho Buslines is responsible for the corporate social relations and reports directly to the CEO. The structure of the divi-sion is shown below:

The most precious value of Kumho Bus-linesCustomers(Passengers) : They are the primary stakeholders of the firm. As for any transport com-pany, passengers or travelers are the only source of revenue; they have to maintain a good relationship with the customers. For this Kumho is engaged in a variety of activities to enhance the travelling experi-ence of its passengers. Moreover, it covers a larger area of transportation, and is easily accessible in most of the cities and villages. It also has a separate division to handle customer complaints and dissatis-factions. Local communities : Like any other business, Kumho operates in a society and it has more to serve than only its customers. As discussed earlier, Kumho Buslines, is a socially responsible firm and is involved in various activities for the welfare of the society.


This book is about meetings, especially how we can improve our meetings. Casey McDaniel, the

former pro golfer, founded Yip software which spe-cialized in developing real athletic video games such as golf, cycling, and tennis. Thanks to its accurate depiction of reality, Yip software made a great suc-cess among adults and older teens who considered themselves relatively serious athletes. But, due to executive’s unproductive meeting ritual and its effect on the culture of the company, there was a signifi-cant lack of motivation among the people who work there. That’s why J.T. Harrison, head of business de-velopment at Playsoft, the second-largest maker of video game and merger of Yip software, intervened to Yip’s meeting process. After all, thanks to the help from Will, son of Ken who has been Casey’s long time friend, Casey and his executive team successfully changed their meeting culture and got over the chal-lenges from J.T. Harrision.

Meetings are one of the inevitable activities for almost all organizations, but many people in organizations don’t like meetings and even are frustrated by meet-ings. If an organization can change its meetings from

painful ones to productive ones, it can get huge com-petitive advantages from its meetings through high-er morale, faster and better decisions, and greater results. Lencioni wants to tell how to overcome the tediousness and ineffectiveness of meetings, com-paring meetings to movies and T.V. programs. In the fable, Casey tried to follow the conventional wisdom about meetings, such as keeping timeline, stress-ing consensus, and distributing agenda prior to the meeting. However, these are not sufficient for pro-ductive meetings, and sometimes these conventional wisdoms might be counter-productive. According to Lencioni, there are two major components for effec-tive and productive meetings: drama and contextual structure.

Meetings are boring when there is no drama or conflict. What makes people not to lose their inter-est when they are watching movies is the drama or conflict of the characters in the movies. Moreover, if the movie fails to draw audience’s attentions during

Lencioni Reflection Oh, Kwang-ho

Drama

CNU MBA Student JournalLencioni Reflection Oh, Kwang-ho

first ten minutes, it would be very hard to regain their attention. That is, to make meetings not so boring, the participants try to find ways to hook other partici-pants’ attention during the first ten minutes and try to mine for the constructive conflicts during the meet-ings. But, in most cases, instead of hooking others’ attention and mining for the conflicts, participants are just doing some monotonous start, and are trying to avoid tension among them during the meetings. To make meetings less boring, the leader’s role is especially important. The leader should seek out and uncover any issues or concerns about which meeting participants do not agree upon, and then the leader should elicit those different view points from those who are reluctant to express their concerns or disa-greement. In addition, the leader should minimize participants’ discomfort which resulted from the conflict, and maximize the likelihood that conflict will continue by encouraging participants to do so. But in fact, getting people to engage in conflict is very dif-ficult to accomplish, especially for people who have collectivistic cultural backgrounds because in nature collectivists stress harmony with others and try to avoid any conflict with other people in their group.

Meetings are ineffective when there are only one kind of regular meeting such as Monday executive meet-ing where all kinds of topics are dealt with regard-less of their category or characteristics. Because there is no clarity about the purpose of the meeting and about the appropriate topic, there is no clear context for the various discussions that take place in the meeting. Consequently, it is very difficult for participants to shift from administrative issues to strategic ones which need more time to prepare and discuss, and so participants have a hard time figur-ing out what they are supposed to do. Therefore ac-cording to Lencioni, “we need to develop different types of meetings, and clearly distinguish between the various purposes, formats, and timing of those meetings.” Lencioni proposes four kind of different meeting formats according to the purposes.

The first one is the ‘daily check-in.’ The purpose of this five minutes standing meeting is to help team members share their activities that day and elimi-nate the need for unnecessary and time-consuming schedule coordination.

The second one is the ‘weekly tactical.’ This is a one or two hour long regular meeting focusing exclusively on tactical issues of immediate concern. By starting with the ‘lightning round’ in which every participant indicates their two or three priorities for the week, and then having ‘progress review’ in which every participant check the progress of critical metrics for success, every participant can be on the same page and have a real sense of the actual activities. Once the lightning round and progress review are com-plete, participants can talk about ‘real-time agenda’ which are generally emerged during the lightning round and progress review.

The third meeting format is the ‘monthly strategic,’ where executives wrestle with, analyze, debate, and decide upon critical and strategic issues. In addition to monthly strategic a company can have ‘ad hoc strategic meetings’ in order to discuss the imminent strategic issues which have no time to wait for next monthly strategic. By having these meetings, execu-tives can have enough time to prepare and then can dive into one or two important strategic topics with-out any distractions of timeline and tactical concerns. The last meeting format is the ‘quarterly off-site re-view,’ where executives have opportunities to step away from the operational issues that occupy their attention and to review long-term issues such as strategic direction, team effectiveness, talent man-agement, and economic environment including com-petitors.

Lencioni, P. (2004). Death by meeting, San Francisco, CA: Jossey-BassHofstede, G. (1991). Culture and Organizations: Soft-ware of the Mind. London: McGraw-Hill.

06

Contextual structure

References


1. Motivation for MBA

Since I joined 3M Korea Finance in 1997, I’ve been working about 15 years on Credit & Collection

for 4~5 years, Payable for 3 years, Business coun-sel for 3 years, and Plant Accounting 4~5 years. It’s been quite a long period and I’ve experienced a va-riety of services in finance by 2011.I started to supervise my subordinates when I came down to the Naju plant for Manufacturing Financial Counsel in 2006. I was full of energy to create new boots and big steps in a plant era from scratch. I made a great performance with my staff for a while. But as time went by, the blueprint was forgotten in a tight daily routine, and I felt that my passion be-came abandoned in the monotonous life. I doubted my value while working for a period time, as well as my career and future. From that time, I thought that I would be left behind in the ever-changing busi-ness environment if I didn’t show any deep concern and act for my future. Even worse, I wouldn’t be able to reinterpret many happenings and situations in the workplace that I faced using my unique per-spective. So, I needed to get a sense of accomplish-ment through a new challenge, self-development, and self-motivation to satisfy my growth needs in the business field.

However, it had been subsequently reported that enterprises which were respected by many people and businessmen have gone bankrupt miserably. The Big Three U.S. automakers were begging for a bailout. Even Toyota was cutting jobs and produc-tion. It was not appropriate that the causes facing the crisis were high oil prices, the financial crisis, and a global recession. Although we experienced the fuel-efficient automobile issue during the 1st and 2nd oil shock, it was repeating as the cause for the downfall in twenty years. It was known that the traditional car business model ran out long time ago. They had managed to hang in there with-out complete self-innovation, nevertheless they thought it would be okay to do well a bit more upon the basis of the existing success. As I understood, the common failure keywords of the enterprise were self-sufficiency and insensibil-ity to change. That’s why I considered this CNU MBA as a prac-tical opportunity to change myself rather than wishing to change the circumstances I belong to. I needed to check again my past, and make a change from the basement for a better future.I was convinced that I must be able to cultivate aca-demic and practical knowledge, communication skills, and leadership through continuous learning

Kim, Gwang-il

CNU MBA Student JournalMy thoughts on MBA Kim, Gwang-il

for two years here. Also, this course will obviously help my career path in the short term, and this op-portunity must be the catalyst to expand the organi-zational capabilities of team with me as the role of a great manager in the long term.

2. A life of MBAThe MBA is more than just a tough learning expe-rience for cramming as much accounting, finance and marketing framework in as you can get. The personal development, the networking, and the language all have an impact. Frankly speaking, all of those things are very important to me.Meanwhile, different applicants to the business school may have different reasons and motivations. Some may apply for the sake of the prestige asso-ciated with an MBA. Some applicants may apply in order to climb the corporate ladder, especially if he or she expects to hit a glass ceiling with regard to seniority, in a department or company. Some peo-ple may apply because someone they look up to in their family or circle of friends has an MBA. Some people apply because they want to have a Masters degree in order to stay competitive in the tough job market, where getting a job is an achievement, let

alone a promotion! Some may apply because they want to start their own businesses, and want to learn the ropes.I’m a part-time student who thought over the deep practical impact of the MBA on my life now and in the future. Like John Lennon famously stated, ‘Life is what happens to you when you’re busy making other plans.’ I unquestionably agree. I’m the one who dedicate the time, energy and resources for an MBA. I attend classes, study, write the exams, and participate in student government. I study evenings and weekends, sometimes in working time. There-fore I have a thought that our best memories are made when we’re too busy living them. I learned leadership and an ability to respond to the rapidly changing business environment as a manager through the academic case studies associated with the current job. Some say that working is a panacea to heal the suf-fering as well as a channel to Utopia. And they say that the harder you work, the stronger your person-ality and mentality. When you immerse in and focus on work, subconscious region take place, then, the ability to penetrate the core of the problem and the problem-solving capability go up to peak. I totally agree with that.However, as for the present, I am pleased to say

That’s why I considered this CNU MBA as a practical

opportunity to change myself rather than wishing

to change the circumstances I belong to. I needed to

check again my past, and make a change from the

basement for a better future.


that only two subjects are left. Term-4 has ended and term-5 has officially begun. I can’t say that I did remarkably, but I believe that I did enough to pass by now. And ten years from now, I will think it’s a good mem-ory. It’s something rare that I’m living now, that I’ve never lived before and I will never live again. These are the memories, the incredible memories I am making as I’m busy living them. That’s what I mean by that.

3. For dreamers to be an

MBAerIt is said that “Success is what happens when prep-aration meets opportunity”. “Prepare yourself for the present and future world of commerce”. “Arm yourself with an MBA”. Yes! The future of business is going to be way dif-ferent than that of the past! The momentum of in-novation is too strong, and the pace of change too fast, at present. Whole industries will be disrupted and displaced, if they don’t keep abreast of the changes. Organizations which don’t understand the power of technology, and power of the Internet, will be left behind. It may not become a matter of growth alone; it may become a matter of survival, for individuals and businesses to adapt! This is where formal education comes in handy. You may have to lose something in the short-term (the op-portunity cost of pursuing an MBA), but you will have so much to gain afterwards, both in terms of tangible benefits (a degree certificate, a higher sal-ary package, increased number of better quality job offers, huge network of smart and well connected people), and intangible benefits (respect from so-ciety, greater visibility, joy, satisfaction, pride, self worth, confidence, memories, and more).The business world has needs fresh ideas, new per-spectives, as well as talented and qualified manag-ers, to lead the way into the future! We need Blue Ocean / innovative strategists, not just the typical competitors fighting for the same pie. As the world becomes a global village, interconnected by tech-

nology, and as international trade evolves, there is a demand for smart MBAs. You could be one of those MBAs, who can add value to society! Go for it! As experience has taught me, success in profes-sional life is not a mystery. (Yes, I was a guy who once believed in good luck charms and lucky gem stones, in the past!). What the mind does not know, the eye cannot see. Success is the consequence of planned and proper actions. I hope you shall make the right decision and get quality education. It will help improve your chances of success in life.Lastly, I’d like to share an impressive post for your encouragement on a gravestone at Westminster abbey below;

Start with YourselfWhen I was young and free and my imagination had no limits,I dreamed of changing the world.As I grew older and wiser, I discovered the world would not change,so I shortened my sights somewhat and decided to change only my country.But it too seemed immovable.As I grew into my twilight years, in one last des-perate attempt,I settled for changing only family,those closest to me, but alas, they would have none of it.And now as I lay on my deathbed,I suddenly realize: If I had only changed myself first,then by example I would have changed my family.From their inspiration and encouragement,I would then have been able to better my country and, who knows,

I may have even changed the world.

-Anonymous-

CNU MBA Student JournalMy thoughts on MBA Kim, Gwang-il

Healthcare marketers are driven people. They wear a multitude of hats and must have many

areas of competencies. They have to multiple-task. They have to start early and stay late. They have to be on top of their game at all times. They are the keep-ers and protectors of their organization’s brand.And it’s not easy! It’s demanding, but it can also be very rewarding.

Jeff Haden recently wrote articles about the beliefs and habits of extremely successful people. It has some great points that I think can apply to health-care marketers. I share his first article here about the beliefs of remarkably successful persons:I’m fortunate enough to know a number of remark-ably successful people. Regardless of industry or profession, they all share the same perspectives and beliefs.

And they act on those beliefs:

01Time doesn’t fill me. I fill time.

Deadlines and time frames establish param-eters, but typically not in a good way. The aver-age person who is given two weeks to complete a task will instinctively adjust his effort so it actu-ally takes two weeks.Forget deadlines, at least as a way to manage your activity. Tasks should only take as long as they need to take. Do everything as quickly and effectively as you can. Then use your “free” time to get other things done just as quickly and ef-fectively.Average people allow time to impose its will on them; remarkable people impose their will on their time.

02The people around me are the people I chose.

Some of your employees drive you a fool. Some of your customers are obnoxious. Some of your friends are selfish, all-about-me jerks.You chose them. If the people around you make you unhappy it’s not their fault. It’s your fault. They’re in your professional or personal life be-cause you drew them to you–and you let them remain.Think about the type of people you want to work with. Think about the types of customers you would enjoy serving. Think about the friends you want to have.Then change what you do so you can start at-tracting those people. Hardworking people want to work with hardworking people. Kind people like to associate with kind people. Remarkable employees want to work for remarkable bosses.Successful people are naturally drawn to suc-cessful people.

Healthcare Marketing9 Beliefs of Remarkably Successful PeopleThe most successful people in business approach their work differently than most.

See how they think–and why it works.

Lee, Seong-hyun


03I have never paid my dues.

Dues aren’t paid, past tense. Dues get paid, each and every day. The only real measure of your value is the tangible contribution you make on a daily basis.No matter what you’ve done or accomplished in the past, you’re never too good to roll up your sleeves, get dirty, and do the grunt work. No job is ever too humble and no task is ever too un-skilled or boring.Remarkably successful people never feel enti-tled–except to the fruits of their labor.

04Experience is irrelevant. Accomplish-ments are everything.

You have “10 years in the Web design business.” Whoopee. I don’t care how long you’ve been do-ing what you do. Years of service indicate noth-ing; you could be the worst 10-year programmer in the world.I care about what you’ve done: how many sites you’ve created, how many back-end systems you’ve installed, how many customer-specific applications you’ve developed (and what kind)… all that matters is what you’ve done.Successful people don’t need to describe them-selves using hyperbolic adjectives like passion-ate, innovative, driven, etc. They can just de-scribe, hopefully in a humble way, what they’ve done.

05Failure is something I accomplish; it doesn’t just happen to me.

Ask people why they have been successful. Their answers will be filled with personal pronouns: I, me, and the sometimes too occasional we.Ask them why they failed. Most will revert to childhood and instinctively distance themselves, like the kid who says, “My toy got broken…” in-stead of, “I broke my toy.”They’ll say the economy tanked. They’ll say the market wasn’t ready. They’ll say their suppliers couldn’t keep up.They’ll say it was someone or something else.And by distancing themselves, they don’t learn from their failures.Occasionally something completely outside your control will cause you to fail; however, most of the time, though, it’s you. And that’s okay. Every successful person has failed numerous times. Most of them have failed a lot more often than you. That’s why they’re successful now.Embrace every failure: Own it, learn from it, and take full responsibility for making sure that next time, things will turn out differently.

06Volunteers always win.

Whenever you raise your hand, you wind up being asked to do more.That’s great. Doing more is an opportunity: to learn, to impress, to gain skills, to build new relationships–to do something more than you would otherwise be able to do.Success is based on action. The more you volun-teer, the more you get to act. Successful people step forward to create opportunities.Remarkably successful people sprint forward.

CNU MBA Student JournalHealthcare Marketing Lee, Seong-hyun

07As long as I’m paid well, it’s all good.

Specialization is good. Focus is good. Finding a niche is good. Generating revenue is great.Anything a customer will pay a reasonable price for you to do–as long as it isn’t unethical, immor-al, or illegal–is something you should do. Your customers want you to deliver outside your nor-mal task? If they’ll pay you for it, fine. They want you to add services you don’t normally include? If they’ll pay you for it, fine. The customer wants you to perform some rela-tively manual labor and you’re a high-tech shop? Shut up, roll ‘em up, do the work, and get paid.Only do what you want to do and you might build an okay business. Be willing to do what custom-ers want you to do and you can build a successful business.Be willing to do even more and you can build a remarkable business.

09The extra mile is a vast, unpopulated wasteland.

Everyone says they go the extra mile. Almost no one actually does. Most people who go there think, “Wait… no one else is here… why am I do-ing this?” and leave, never to return.That’s why the extra mile is such a lonely place.That’s also why the extra mile is a place filled with opportunities.Be early. Stay late. Make the extra phone call. Send the extra email. Do the extra research. Help a customer unload or unpack a shipment. Don’t wait to be asked; offer. Don’t just tell em-ployees what to do–show them what to do and work beside them.

08People who pay me always have the right to tell me what to do.

Get over your cocky, pretentious, I must be free to express my individuality self. Be that way on your own time.The people who pay you, whether customers or employers, earn the right to dictate what you do and how you do it–sometimes down to the last detail.Instead of complaining, work to align what you like to do with what the people who pay you want you to do.Then you turn issues like control and micro-management into non-issues.

Every time you do something, think of one extra thing you can do–especially if other people aren’t doing that one thing. Sure, it’s hard. But that’s what will make you different. And over time, that’s what will make you incredibly successful.


How to improve the masscustomization for Company “A”

Mass customization is a strategy that produces products that satisfy a variety of cus-tomers’ needs and increases the efficiency of company performance as like mass

production. It is one of the key production strategies to survive in the intense market situation. Lots of companies have already used this strategy and company “A” has also used it, but needs more improvement. So this paper is focused on some tactics on how to improve the mass customization for Company “A”.

Company “A” is a manufacturing company with many factories in the world and produces their product as built to order. The company divides prod-ucts into some package groups and manufacturing layout is combined with package groups and pro-cess. One of the main plants serves 104 customers and builds 3,322 finished goods. And the number of finished goods has steadily increased as shown be-low in the linear regressing analysis chart.

The customers’ needs vary as time passes and the company has to find some strategy to sustain productiv-ity and customers’ satisfaction. So I suggest some tips to obtain two goals.First is to reinforce the information system for the supply chain. The company has already built a Business to Business (B to B) system in some sectors. Some of the customers and suppliers shared information like material deliveries and build orders through SAP that is a kind of Enterprise Resources Planning (ERP) system. But it doesn’t apply to all customers and suppliers. The information of an effective supply chain can reduce the number of machine change times and short delivery times. The manufacturing capacity is limited and the company wants to use full utilization of capacity. If customers require sudden orders and the information of supply chain isn’t sufficient, the company doesn’t have enough time to prepare the order and the changeover of the machine to meet customer’s requirement will be increased. This makes the company lose customers’ satisfaction and lower productivity. It isn’t easy to perfect an information system all at once. The company has to make the system step by step.The second is to manage bottle neck process. Company “A” has managed bottle neck process but the process of each finished goods is becoming complex due to customers’ requirements and advanced tech-nology. The layout of the company was set by product groups and each product group has almost a similar

Ji, Chang-seob

CNU MBA Student JournalHow to improve the mass customization for Company “A”

Ji, Chang-seob

process but a little different. So the production plan has to consider all process of each finished good for effective bottle neck management. I shall explain more details through this example. The company has a capacity limitation at one process and the capacity is 60. Generally production plan-ners make a production plan without considering the characteristic of the finished good as like Table 1. But each finished good will arrive on a different day at a bottle neck process and it makes inventory of Work-In-Process (WIP) increase. As seen in Table1, this makes a production plan within capacity limitations, but it arrives on a different day and is larger than capacity in some days and less on some other days. It causes increasing cycle times and losing production capacity and finally it causes customer dissatisfaction and lower utilization.

Table1. Production Plan before not consider process of each Finished Goods

But if a production plan is made by considering all process of each finished good like in Table 2, it can catch two goals that is customer satisfaction and increasing production utilization.

Table2. Production Plan before not consider process of each Finished Goods

A production plan can be made in a bottle neck process by the considering the priority of each product. And then you can calculate the expected required day to arrive at the bottle neck process for each finished good. Finally, you can decide the start date on each product by calculating the inverse required days. Also the remaining capacity of other processes will be filled with other products that are not related to the bottle neck process. This production plan will help companies to satisfy customer needs and increase production utilization.The last is to educate workers to be versatile person. The company employed many workers and educated them as specialist in specific process in the past. But the environment has changed and it needs multi skilled works not specialist. The worker should be relocated by demand for cost saving and customer sat-isfaction. The company has to prepare in advance for sudden situational changes.

Until now, I suggest some tactics for mass customization. Mass customization is a key strategy to survive in intense competition. The tactics help the company to actualize mass customization. Also this tactics can apply to other companies.


Is Greed Really Good?

Lee, Su-jin

The movie Wall Street (1987) is tossing away the question about money and greed in modern capitalistic society. The brief plot summary is as follows:

Bud Fox, playing the hero in this movie, is a Wall Street stockbroker during the early 1980’s. He has a strong desire to be successful as a stock trader. Working for his firm, he spends his spare time working with the high-powered, extremely successful broker Gordon Gecko. Gecko manipulates the market using inside information. Also he takes advantage of Bud’s burning desire to succeed. Working closely with Gecko, Fox soon finds himself swept into a world of “shady financial business,” where he cannot help betraying his father and the friendly Blue Star airlines blue-collared workers.

Starting from Gecko’s tempting speechGecko who is powerful figure in the financial world did an eloquent speech in front of stake-holders. His motto best describes his approach: greed is good. He said, “Greed, for lack of a better word, is good. Greed is right. Greed works. Greed clarifies, cuts through and captures the essence of the evolutionary spirit. Greed, in all of its forms - greed for life, for money, for love, knowledge - has marked the upward surge of mankind.” It represented well that the greed may have a good affect on our life. Gecko refers to an apparent notion of greed as representing some form of healthy ambition, a desire to imple-ment improvement and to exert a positive influence on the world. Through greed mankind had developed many things not just in our economy but also whole parts of culture including academia, technology, and art. The development of civilization can be described as a history of eagerness and greed. In some degree, greed can make mankind’s life more affluent and productive. Sometimes greed can work as a strong motivation. The desire to have a better life drives people to work harder and release a positive energy in their business. It still exists as a key motivator in most of us.

CNU MBA Student JournalIs Greed Really Good? Lee, Su-jin

Is greed really good?We cannot help asking this question again. Is greed really good? In this movie financial play-ers were making huge amounts of money and felt no responsibility for their actions. In the real world, greed does not always work positively. Think about cases of moral hazard which have been committed by big companies around the world. For example, Enron was one of the Big 7 energy companies, but it committed accounting fraud to maximize just a few people’s profit. Enron’s em-ployees, investors and banks were damaged severely by Enron’s scandal. Many people lost their jobs and went bankrupt. Investors and banks could not retrieve their investment because of a few greedy individuals.We can find more cases regarding moral hazards spreading in our society. US President Obama is angry that managers who ran the AIG insurance group so badly that it required government bailouts and are now getting huge bonuses. With respect to crime, exploitation, and other forms of destructive behavior, the motive for these types of things is financially related. These types of behaviors are symptoms showing us that our desires for material things are out of balance. If we pursue greed too much and push through too far then what we confront can be a destructive result.

Two sides of greedGreed has a double-faced effect on our lives. In Wall Street’s speech Gecko only emphasized on the positive effect. The dark side of the greed also can be found in recent economic crises around the world. Although this movie was made in 1987, it is still valid to us. This Wall Street story does not belong to past. The moral hazards which occur due to greed are being committed so often these days.The answer for the previous question is clear. Greed is not good. Greed never truly benefits anyone but the greedy. It is damaging to the soul and can damage the body as well. We should discern the border of greed and healthy motivation wisely.


Over the last ten years, I have flown over 1,872,780 miles

around the world. Whenever I fly, I have a big load on my mind. The purposes of my business trips are to solve problems, get new orders and develop new customer rela-tionships. Those are my priorities.In the beginning of my oversea sales work, I participated in Ex-port Automotive exhibitions. I met a lot of foreign people and I visited world class automotive compa-nies such as Ford, Mercedes-Benz, and VW. I realized that there are many automotive companies in the world. This means that there is a lot of work around the world in the automotive sector. At that time, I wanted to specialize as an exporter. I think that in order to be a good export manager, there are 3 es-sential abilities I have listed be-low. First is language skills like Eng-lish and Spanish, since we have to

communicate with foreigners. We have to explain about our com-pany, products and understand customer requirements. Most potential issues and problems are caused in miscommunication each other.

Second is a solid understanding of company products. With many competitors including Korea and China, there are a huge num-ber of companies producing the same products. Customers keep searching for manufactures with good prices, quality and delivery. If you get a chance to present or meet with valuable custom-ers, you should explain well and impress the customer with your company. Please make sure the customer does not wait for you. This means that the export man-ager always has to be prepared to go whenever and wherever a cus-tomer’s needs are.

Participate in Global business.

Ko, Eun-kang

CNU MBA Student JournalParticipate in Global business. Ko, Eun-kang

Third is knowledge of world trade. Whenever exporting and import-ing, these types of work are fol-lowing trade rules. These rules are called INCOTERMS which is like regulations for international business. If you have good speak-ing ability and good knowledge of your product, but you do not know international trade rules, then you are likely to make mistakes when you signing a contract. There are so many different outcomes de-pending on trade condition telling who has the most advantage or disadvantages in the contact.I have learned more logical ideas and a wider knowledge with start-ing CNU Global MBA.When I was beginning the CNU Global MBA course, I had many business trips. I thought that my work is my pri-ority during the business trip. I missed some assignments be-cause I had no time to make up the assignments at that time.

But I realized that It was a totally wrong idea within two months in first semester in CNU Global MBA because most of my classmates submitted their assignments by the due date even though they had business trips or were in hospital.One of the best advantages in CNU Global MBA is that there are chances to meet foreign pro-fessors and classmates. I took a class with Prof. Nada from New York, Prof. Chang from Hawaii and Prof. Metin from Texas. Before taking the CNU Global MBA, I met many foreigners as customers. When I communi-cated and discuss with my three professors, I was very free and comfortable to talking with them. CNU Global MBA provided me a chance to accumulate knowledge and make more personal connec-tions.


1. What are Croc’s core competences?

The core competencies are the sustainable capabili-ties that are valuable, rare, costly to imitate and no substitutable, which serve as a source of competitive advantage for Crocs over its rivals. It distinguishes the company from whole industry’s competitors and creates through that its own personality (Ireland, the Management of Strategy, 9th Ed.). From the details mentioned in the case we can figure out Croc’s core competencies that fit with all four criteria of core competencies concept which are its highly respon-sive supply chain, its maintenance of flexibility to the unexpected demands and offers of retailers, its ef-ficiency of its distribution model and its cost advan-tages created. Crocs top management examined the footwear industry supply chain and immediately no-ticed its limitations. The existing supply chain used to process requests that companies receive from retailers at the beginning of the year on January and manufacture the demand supplies for the next spring and fall seasons with some excess in order to manage any unexpected demand. However, this tra-ditional supply chain system had many deficiencies, because retailers had to base their requests on their forecasts which definitely will lead either to overes-

timation and unsold stock and subsequently loss, or underestimation which meant loss of potential profit. Instead, Crocs developed a revolutionary sup-ply chain system which strengthens its relationship with retailers by quick response to any fluctuations in customers’ demands. This result was possible due to the heavy investment made by the company in its infrastructure and the development of the sup-ply chain with the new management through 3 steps: Further vertical integration into materials; Growth by acquisition; and Growth by product extension. This will be discussed in the 2nd question.

2. How do they exploit these compe-tences in the future?

a Further vertical integration into materials: There exist two types of supply chain practices. Effi-cient Supply Chain Practices (Lean) which is applied when demand is supply chains are forecast-driven that implies that they are inventory based. Agile sup-ply chains are more likely to be information based (Fisher, M. 1997, What is the right supply chain for your product? HBR, 2, pp105-116). Crocs under-

CROCS (A): Revolutionizing an industry’s supply chain model for competitive advantage

Chihab EL ALAOUI

CNU MBA Student JournalCROCS (A) :Revolutionizing an industry’s supply chain model for competitive advantage

Chihab EL ALAOUI

standing the dynamics of the industry established an agile network to connect to its retailers. The main objective was to vertically integrate its operations to the best extent possible and exercise an option for it to control its inputs and distribution of its products and services. Specifically this agile supply chain is:● Market sensitive: it is closely connected to end-user trends.● Virtually integrated: it relies on shared informa-tion across all supply chain partners.● Network based: it gains flexibility by using the strengths of specialist players● Process aligned: it has a high degree of process interconnectivity between the network members.

b Growth by Acquisition: Ronald Snyder real-ized that acquisition would play an important role to support growth and started a string of acquisitions to horizontally integrate and support its strategic moves. Within 2 years of operations Crocs first ac-quired Canadian manufacturer Finproject NA in June 2004, which was renamed Foam designs, originally manufactured Crocs products. The acquisition gave Crocs the intellectual rights to the patented “Cros-tile” material. In October 2006 Crocs acquired Fury

and started manufacturing protection gears based on Crostile. Subsequently in October 2006, Crocs ac-quired EXO Italia, a company engaged in designing Ethylene Vinyl Acetate (EVA) products used primarily in footwear products. The most successful acquisi-tion in December 2006 was a company called Jibbitz, which specialized in manufacture of colorful Snap-On products as accessories for Crocs footwear. In January, 2007 Crocs acquired Ocean Minded, LLC a company which manufactured high quality leather and EVA based sandals for the beach, adventure and sports market. Crocs thus offered a variety in its product range for varying target markets and this move tremendously boosted the company’s sale.

c Growth by Product Extension: the industry knows changing in requirements, Crocs has performed ex-tremely well in this sector to fuel the excitement for its customers. Beach and Cayman the original mod-els is most popular and has been used as a basis of developing other shoe products. The company’s website shows that the company sells close to 31 31 basic footwear models, ranging from sandals to chil-dren’s boots to shoes designed for professionals. It got also license agreement with Disney, and made


shoes incorporating Disney characters. In addition to brand CrocsRX that was specially designed to meet the special needs of those medical problems that af-fected their feet, such as diabetes. Crocs sponsored the AVP Professional Beach Volleyball Tour, and of-fered two models with the AVP logo. The company also started to launch accessory products such as caps, shirts, socks, shorts, hats, and backpacks.

3. To what degree do the alternatives in Question 2 fit the company’s core competences, and to what degree do they defocus the company away from its core competences?

To answer this question, we will try to discuss the strengths and weaknesses of every alternative and the consequences possible on the company’s core competences:

Strength Weaknesses

Vertical integration

• Economies of scale• Effective competitive barrier to entry• Higher degree of control over value chain• Better position to negotiate with suppliers

and buyers.

• Capacity balancing issues due to excess production in times of falling sales

• Possibility of higher costs due to lack of ef-ficiencies by suppliers

Growth by Acquisition

• Access to developed technologies• Reduction in competition and defense

against substitute products• Ability to meet varied customer expecta-

tions

• Acquisition costs should be able to have a positive Net Present Value

• Integration concerns due to cultural change and differences in organizational practices

Growth by Product

Extension

• Economies of scale and scope• Ability to meet customer expectations• Making product obsolete before competi-

tion catches up and copies design

• Increased production cost• Increased capacity allocation and possibil-

ity of excess capacity• Possibility of lack of supplier and retailer

coordination and as result low response and flexibility in future

CNU MBA Student JournalCROCS (A) :Revolutionizing an industry’s supply chain model for competitive advantage

Chihab EL ALAOUI

4. How should Crocs plan its produc-tion and inventory? How do the company’s gross margins affect this decision?

Most of Crocs products are manufactured in house and this helps reduce inefficient outsourcing. Crocs could primarily focus on producing molded shoes in China, because of the low duty structure levied in ex-porting. It needs to do a quick assessment of other regions in the world and their duty structures and shift production by transferring adequate production resources and eliminating adjustment schedules for the short run. Also since the European and US market is saturated with Crocs products, the focus should be on other countries where excess capacity could be leased. This opens the option of increasing geographical diversity. Denver distribution network could be as a lean to distribute other company’s products as a step taken to cover the minimum fixed costs. Crocs implemented the global inventory plan-ning system (ERP). The system will help them take faster decisions and better inventory management practices as electronic data at point of sale will be now available. All the strategic moves Snyder has done were to in-crease Crocs profit margin. The company has a high gross profit margin compared to competitors and even the industry average 58.8% in 2007. It affects Crocs’ ordering behavior of inventory and supplies. Companies with higher margins can afford to keep more inventories in stock and have a lower turno-

ver rate, as demonstrated in exhibit 4. Crocs has the highest margins 56.5% and the lowest inventory turnover at 3.5%. The company’s margin also gives it access to more cash on hand to buy into more steps in its supply chain. It also is effectively managing its production and inventory levels to keep supplies in the stores and shoes in demand.


This verse from the Vedic litera-ture explains the nature of god

as believed in Hinduism. It consid-ers the whole universe in totality as god, within which resides the sys-tem of creation, maintenance and dissolution of the existence into in-existence. In this verse ‘purnam’ literally meaning full or complete is explained as thus: the one who is complete in itself, complete with capabilities of creation, support and annihilation. This ‘One’ is ex-plained as god, it can be more than one simultaneously and those dif-ferent ones are equal to each oth-er. Thus it says, purnam-ada: that is complete, purna-midam: this is complete, purnat- from the one complete, purnam- another com-plete, udachyatae – can come out, purn-asya : from that complete, purnam-aadaya: if a complete is taken out, purnam-eva- wasis-syatae : complete will still remain

there. In the core philosophy, Hinduism explains god as without ‘prop-erties’ (Nirguna i.e. without any properties like good, bad, hot, cold, beautiful, weak, strong or any kind of properties), without any form (Nir-aakar i.e. formless without having any definite shape), ‘Sat-cit-ananda’ (Sanskrit:

Insights of Hinduism ॐ पूणर्मदः पूणर्�मद ंपूणार्त्पुणर्मुदच्यत ेपूणर्श्य पूणर्मादाय

पूणर्मेवाव�शष्यत े॥

ॐ शािन्तः शािन्तः शािन्तः ॥ Om Puurnnam-Adah Puurnnam-Idam Puurnnaat-Purnnam-Udacyate Puurnnashya Puurnnam-Aadaaya Puurnnam-Eva-Avashissyate || Om Shaantih Shaantih Shaantih || This verse from the Vedic literature explains the nature of god as believed in Hinduism. It considers the whole universe in totality as god, within which resides the system of creation, maintenance and dissolution of the existence into in-existence. In this verse ‘purnam’ literally meaning full or complete is explained as thus: the one who is complete in itself, complete with capabilities of creation, support and annihilation. This ‘One’ is explained as god, it can be more than one simultaneously and those different ones are equal to each other. Thus it says, purnam-ada: that is complete, purna-midam: this is complete, purnat- from the one complete, purnam- another complete, udachyatae – can come out, purn-asya : from that complete, purnam-aadaya: if a complete is taken out, purnam-eva- wasissyatae : complete will still remain there. In the core philosophy, Hinduism explains god as without ‘properties’ (Nirguna i.e. without any properties like good, bad, hot, cold, beautiful, weak, strong or any kind of properties), without any form (Nir-aakar i.e. formless without having any definite shape), 'Sat-cit-ananda' (Sanskrit: सिच्चदानंद) is a

compound of three Sanskrit words, Sat (सत्), Cit (�चत्), and Ananda(आनंद), meaning essence, consciousness, and bliss respectively. In ranking, Hinduism is unofficially ranked the third largest religion being followed on earth after Christianity and Islam, but in age it is believed to be the oldest in origin. In fact, in the scriptures defining Hinduism, it is no where mentioned as Hinduism;

) is a compound of three Sanskrit words, Sat(





), Cit(





), and Ananda(





), meaning essence, consciousness, and bliss respec-tively.

In ranking, Hinduism is unof-ficially ranked the third largest religion being followed on earth after Christianity and Islam, but in age it is believed to be the oldest in origin. In fact, in the scriptures defining Hinduism, it is no where mentioned as Hinduism; rather it

is called ‘sanatan dharma’ which means ever existing religion, so no starting time can be elucidated. In its unfathomable age it has accu-mulated many venerated ancient knowledge residing in its scrip-tures like Ayurveda, the natural healing system, which is getting more popular these days due to its ‘no side effects’ and restorative methodology. Another very useful knowledge for this modern world of high tension life style is the ‘Yoga techniques’.

Along with these time treasured knowledge, Hinduism in its ‘cul-ture’ part has developed some in-humane traditions like caste sys-tem. The Hindu cultured society is expected to have four different caste Brahman, Kshetri, Baisya and Sudra . Brahman and Kshetris are considered higher classes and they consider remaining two

Om Puurnnam-Adah Puurnnam-Idam Puurnnaat-Purnnam-Udacyate Puurnnashya Puurnnam-Aadaaya Puurnnam-Eva-Avashissyate ||Om Shaantih Shaantih Shaantih ||

Insights of Hinduism

Anesh Sthapit









CNU MBA Student JournalInsights of Hinduism Anesh Sthapit

castes as untouchables. This cul-ture has brought forth many injus-tices to the so called lower caste peoples. Also, there are many systems favoring the gender bias-ness making it patriarchal society, which at many places doesn’t re-spect the women’s right. These traditions however have slowly be-ing eradicated via the awareness of human rights and respect for humanity.

There are some interesting parts in Hinduism. One among them is the number of gods. In the popu-lar religions around the world the philosophy of one god is preva-lent, but Hinduism seems to be in contrary having 330 million gods. People must be awed to know that a country which was a Hindu King-dom not more than 10 years ago had a population smaller than the no. of gods. Another interesting fact is that the dead body must be cremated with associated rituals, while most of the other civiliza-tions have the tradition of burying the dead body. It also believes in rebirth, and is said that the sins and virtues are accumulated throughout successive births. Sal-vation which is called ‘Moksha’ is the ultimate target of religious activities, which means the uni-fication with the ‘One’ the ‘Sat-chit-ananda’. Sanskrit, a language

which is mother to many languag-es popular in south Asia would have been dead, had this religion not been in practice and plethora of the rich literature in it would have been unreadable and lost.

Like a coin, with its bright and dark sides, Hinduism is a religion boasting a richness in literature, including the longest epic poem the ‘Mahabharata’ and many lit-eratures with Vedic wisdom which lays out the principles in medicine, life style, politics and the struc-turing of the country. It needs to reform some of its traditions and respect the humanity while main-taining its better sides.

We have learned about the Hof-stede’s Dimensions in the class. I analyzed this case by using the Hofstede’s Dimensions. Firstly, we can classify each culture accord-ing to five dimensions. We found out the three dimensions in those cases mentioned above. The first one is Individualism-collectivism scale. The pilots in the crash cas-es are more close to collectivists. When copilots make decision, they are usually concerned about their superiors’ feelings. They do not take their thought into considera-tions but they only take their su-periors. Second one is PDI(Power Distance Index). The power dis-

tance between the captain and the copilot is very far. Only the captain has the power to make a decision, and the copilot has to obey it. Last one Finally, it is UAI(Uncertainty Avoidance Index). It shows that how much the members of certain groups accept the uncertainty and ambiguity. In the culture of strong uncertainty avoidance, they tend to make strict provisions and the laws regarding the all of possible situations. On the other hand, the pilots in the crash cases usually make a decision by counting on their own intuition. So, I would say that the level of UAI in those cases is low.Above all, I found out that cultural differences are the most critical factor in these cases after I read this article. To manage the cul-tural differences, basically, we should identify the nationality of the opponents even though that is not always. Secondly, understand-ing the counterparts’ characteris-tics as soon as possible by using the Hofstede’s dimensions and High-Low contexts and the other methods. Finally, taking some time for settling down the prob-lems by talking to each other. As I mentioned above, the most criti-cal factor in communicating is to understand different cultures and its traits.


Memories ofMBA As a full time MBA student, my two years of MBA

experience is full of unexpected happenings.

From the primary English class to the capstone project, I struggled trying to get used to using com-puter programs such as PowerPoint and Excel. Of course English was one of my issues I had to solve. But for me, doing assignments on the computer was the biggest task to overcome. Through this article, I want to give thanks to my classmates who helped me over this.

During the MBA course I had a chance make many good friends not only our classmates but also ex-change students from India and Thailand. These relationships gave me a chance to think widely and experience their cultures. Rungtip, from Thailand, has an interest in marketing and fashion. She was struggled to overcome the weather difference be-tween Bangkok and Gwangju but really enjoyed Ko-rean food and culture. By spending time with Indian students, I realized how smart and kind they are. Especially Akash and Akhil, who loved to play games and were actually good at it. And they cooked Indian food for me and friends several times. Now they are gone to their country, but we still keep in touch and support each other as good friends.

Kim, Joo-young

CNU MBA Student JournalMemories of MBA Kim, Joo-young

As you know, the MBA course is hard to get through without coopoeration. Because we had plenty of group assingments and had to read many cases and ana-lyze them. For doing many assignments and study, we spent a lot of time with classmates at school.Through this, we became close to each other and I had many good opportunities to get valuable advice from classmates who have a variety of experience in real life. In my opinion, these kinds of opportunities are one of privileges that we can earn through the MBA program.

One of my memorable MBA events was a field trip to Shanghai, China in June of 2012. While we had only six days in Shanghai, we took lectures about China and related issues that were prepared by six Chinese pro-fessors at Fudan University and visited two Chinese companies such as Neusoft and Shanghai Jahwa. This field trip experience gave us a chance to apply the theories that we learned in class to real issues of China.

During the field trip, we met the attractive Korean movie star Kavin Ko, and could find interesting as-pects of our classmates that we didn’t know before such as their characteristics and preferences. Our Asian field trip was great. By being with our class-mates, it became a more unique experience.

When I decided to enter the CNU MBA program, I expected to gain knowledge through traditional lec-tures. Fortunately, I not only took lectures but also had opportunities to meet many good people and ex-perienced so many things such as the joy of learning, the disappointment of failure and the importance of relationships. I won’t forget these memories and feel-ings that I had during my MBA experience.

Other full-time students also had similar experiences to mine. Anesh and I were together when I had my internship in LG Innotek. At that time he was a re-ally good friend who supported and helped me to get through that time. Namuun and I made a capstone project titled “ A strategy for GOBI corporation to en-ter South Korean garments market.” Yurim went to Nanjing, China as an exchange student and shared her experience when she came back. In our lifetime, we have many memorable moments and I am sure this MBA experience will be one of them. I know there is a possibility that under the same expe-rience, people could feel differently. However, I hope this MBA experience remains as a delightful memory for my classmates and wish good luck for all of us


Listening to sad music on a rainy day makes

most people feel melancholy.

But I’m not....

One day, I didn’t know what to do with myself on

a rainy day. So I happened to listen to a sad song.

I fine-tuned the radio frequency. I didn’t have any

knowledge of that song. But I sank into the song

very fast. I search on the Internet after listening

to the song which brought back my memories. Fi-

nally I found the song’s title and even the singer

who sang the song.

I was with his songs from then on.

Be lost in memories

Kim, Hee-joon

CNU MBA Student JournalBe lost in memories Kim, Hee-joon

ON THE STREETS (거리에서)

SONG BY KIM KWANG SEOK

거리에 가로등불이 하나 둘씩 켜지고

the streetlamps on the street light up one by one 검붉은 노을너머 또 하루가 저물때

when a day comes to an end over the blackish red sunset 왠지 모든 것이 꿈결같아요

everything feels like a dream 유리에 비친 내 모습은 무얼 찾고 있는지

wonder what myself reflected in the mirror is trying to find 뭐라 말하려 해도 기억하려 하여도

even if I try to say something, even if I try to remember it 허한 눈길만이 되돌아와요

only vacant eyes meet mine

그리운 그대 아름다운 모습으로

you who I miss so much, with a beautiful image 마치 아무 일도 없던 것처럼

as if nothing happened 내가 알지 못하는 머나먼 그 곳으로 떠나 버린 후

after leaving to a far away place that I do not know 사랑의 슬픈 추억은 소리없이 흩어져

sad memories of love scatter soundlessly 이젠 그대 모습도 함께 나눈 사랑도

now even your image, even the love we shared 더딘 시간 속에 잊혀져 가요

are getting forgotten in the slow time

거리에 짙은 어둠이 낙엽처럼 쌓이고

on the streets deep darkness piles up like dead leaves차가운 바람만이 나의 곁을 스치면

when the cold wind breezes by me 왠지 모든 것이 꿈결같아요

everything feels like a dream 옷깃을 세워 걸으며 웃음지려 하여도

walking with my collar against my neck, even if I try smiling 떠나가던 그대의 모습 보일 것 같아

I still picture you, leaving me 다시 돌아보며 눈물 흘려요

I cry, looking back

This song is the 1st track of folk band ‘Dong-

MulWon (Zoo)’s debut album published in

1987.

Kim Kwang-Suk (January 22, 1964 - January

6, 1996) was a South Korean folk rock singer.

He made his debut by joining the recording

of a musical ‘Gaedongi (개똥이)’, which con-

sisted of topical songs and was produced by a

songwriter and activist Kim Min Gi in 1984. He

also participated in the first publicly released

album of “Noraerul Chanun Saramdul-Song

Seekers”, a group of activists and singers in

1987, and later created a more widely sup-

ported band “Dongmulwon (동물원)– The Zoo”

in 1988. He jumped to fame with the first al-

bum of Dongmulwon, and shortly he began

his solo career. Most of his songs were cel-

ebrated for his appealing vocals and intro-

spective lyrics which were broadly loved by

young generations of South Korea in 1990s.

He released 6 studio albums and 5 compila-

tion albums, and had many hit songs such as

“On the street (거리에서)”, “Love has gone (사

랑했지만)”, “A letter from a private (이등병의 편

지) and ”Song of my life (나의 노래)”. He com-

mitted suicide by hanging on January 6, 1996.

After his suicide, allegations were made,

all of which were unsubstantiated. Events

and projects have been organized in com-

memoration of Kim Kwang-Suk ever since

his death. A tribute concert has been held

annually by singers across musical genres

including rock and roll and hip-hop, and his

albums sell steadily, marking 5 million copies

as of January 2007. On 6 January 2008, the

12th anniversary of his death, a memorial re-

lief sculpture was unveiled at the concert hall

where he held a thousand times of concert,

drawing many fans remembering him.

We don’t know why he dead. But he is kept

alive in memory by everyone with his songs.

CNU MBA Student JournalBe lost in memories Kim, Hee-joon

Challenge!

Namuun Usukh Ochir

Time is flying like an arrow and it has been almost 7 years since I first came to Korea to start my undergraduate study at Chonnam National

University. Past 7 years was full of challenges with great memories with all the peo-ple around me.

Applying for CNU MBA to study as a Korean Government Scholarship Stu-dent was the most challenging.I will never forget the moment I found my name on the list of candidates of the scholarship. It was one of the biggest achievements during my life in Korea. I would like to express my appreciation to MBA director, Korean language teacher at CNU LEC, professors and my classmates who helped me to get the scholarship and to successfully complete the course.I am now waiting for green light about to cross one of the biggest roads in my life, which was not easy but exciting.

One and half year was very short but rich of experiences. This is a place where people from all types of job field gather together to share each other’s experience and learn from each other not only from professors. Especially for students like me, who don’t have job experience, this was very good opportunity to learn more about many kinds of jobs.

This is also a place for people from many countries to get to know more about other cultures. I had classmates from Morocco, Nigeria, and Nepal as well as exchange students from Thailand, China, and India. We used to cook traditional food for each other. Trying original taste of curry and nan was the most memorable moment for me. Besides, I could learn that being open minded is the key for understanding and communicating with others, especially from different cultures.

I hope many students to come to CNU MBA to take this great opportunity to prepare themselves for better futures. Finally, I would like to say that Korean Government Scholarship is really a good chance for foreign stu-dents to challenge. I hope all of you to achieve your goals and dreams. Thank you!


HYUNDAI MOTORSMarket Potential & Sales Forecasting in India

Kim, Jin-gwan

With a combination of booming economies and low vehicle penetration rates at the present time, the emerging markets are the key source of growth for today’s global automotive industry. I am going to analyze the market potential of Indian markets for Hyundai and the forecasting of sales in these markets.

Market Potential of Automobiles

The Indian automobile industry is highly driven by enhanced demand for new models and variants in domestic and international markets. Rise in dispos-able income, favorable demographics and supportive business environments are certain factors that are attracting automobile giants from all over the world to the Indian landscape. India used to be a country where having a car was as-sumed to be a sign of social prestige and not usually viewed as a transportation vehicle. But with a rising GDP and per capita income as well as the globaliza-tion in almost every industry, the scenario today has changed and is still changing. In a Global Auto Executive Survey conducted by KPMG in 2011 it states that “According to the Soci-ety of Indian Automobile Manufacturers (SIAM), India exported 0.45 million and sold 1.95 million vehicles in the domestic market in 2009. A substantial ma-jority of respondents foresee that the number rising to between three and five million cars in five years time. Industry experts expect domestic sales to reach 3.5 million by 2015 (a growth rate of 13% per year), which in consistent with our survey findings.”[3] Also

according to an article in the IBEF (India Brand Eq-uity foundation, Automotives sector sales has been rising at an impressive 17 percent compound annual growth rate (CAGR) over the last five years. Cars are the fastest growing segment, with a CAGR of 23 per-cent in the same period. Cars account for two thirds of overall automotive revenues in the country. Trucks account for 22 percent, while two wheelers account for the remaining 12 per cent. It also states that the car industry in year 2010 was 57 billion USD, which is predicted to grow to 145 billion USD by 2016. All these facts suggests that the market potential for automobiles in India is tremendous, and combined with that of other emerging markets, the results would be more attractive.

Sales Forecast of Hyundai

Hyundai Motor India Limited was formed in 6 May 1996 to take advantage of the growing Indian econ-omy. Hyundai Motor India Limited (HMIL) is a wholly owned subsidiary of Hyundai Motor Company (HMC). HMIL is the largest passenger car exporter and the second largest car manufacturer in India. It currently

CNU MBA Student JournalHYUNDAI MOTORS Market Potential & Sales Forecasting in India

Kim, Jin-gwan

markets eight passenger car models across seg-ments -- it has the Eon, Santro, i10, the i20, the Ac-cent, the Verna, Sonata and in the SUV segment the Santa Fe. Since inception, HMIL has dominated the automobile market with the reputation of being the fastest growing automobile manufacturer in India. HMIL’s growth has been driven by volume-oriented revenues coupled with technological soundness and superior designs. Today Hyundai Motors holds 16% of the market share in the Indian market.

The graph above shows the total sales of Hyundai cars in the past years including the exports. The graph shows that the sales of its vehicles are in-creasing every year. Though there has been a con-tinuous growth in the sales of cars by Hyundai, we can see than the growth rate is not consistent. Below

the growth rate in sales in the last six years has been plotted. The growth in 2008 is 50% as that in 2011 is only 2%. Considering the past behavior of sales, one cannot forecast specifically the trend in the next year. But, according to the article in Indian automobiles site, “….in addition to the new Hyundai Sonata and Hyun-dai Elantra, Hyundai Motor India will make up to 13 launches in the country over the next five years. ’We will sell more than 600,000 vehicles from India this year, including the exports,’ Park (CEO of Hyundai Motors) asserted. Hyundai India is widely expected to meet the goal, analysts said, given it is a conservative figure it has nearly achieved in recent years.”So as I introduced the market potential of the Indian market and the historical sales data of Hyundai Mo-tors, the sales are expected to rise in coming years.

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Growth rate in sales


고흥군 대서면 ‘드림베리’ 대표 송재삼

I still remember the first day as if it hap-pened yesterday. the memorable thing that happened to me was I didn’t know how to get to my classroom. I was lost and I had to ask one person(CNU MBA Director) about the building where I was going to take classes. and when I arrived, I saw some students who were sitting in class reading some books. at that time, I was not com-fortable to be in a place where I was bunch of strangers but they (my classmates) are friendly type of persons so getting along with new people isn’t so hard

Jeonnam Strawberry Cluster Board

A member of CNU MBA is the key to success

A member of CNU MBA is the key to suceess

Kim, Jae-pil

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Kim, Jae-pil

CNU MBA Student Journal

another thing that makes me to like MBA is my professor’s teaching skill. they are accommodating, fun and very intelligent. the class is not boring at all because of my professor’s coaching technique. if you don’t understand the lesson or something is not clear, it is never hard to approach them. they assist every need of us

CNU MBA offers various kinds of education pro-grams for students but the most efficient one has to be English classes. so, we learn to give pres-entations, to communicate in meetings and about different business cultures as well. it’s always fas-cinating to learn something new. and I believe this kind of training can help me to be well prepared in any circumstances and to be more professional.today, personal development is essential not just for me but for all individuals. I wanted to be an ef-ficient employee and a better person as well. so I chose CNU MBA

now, it is your turn TRY !! TRY !! TRY !!

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My exchange life in Nanjing, China is my precious mo-

ment of my youth. To sum up my five months, I had really beautiful moments. Actu-ally I didn’t like the environment of China such as transportation, cleanness in the streets and restaurants. Even this physical environment was not really sat-isfying. I was really happy thanks to wonderful friends. I met vari-ous kinds of friends from all over the world such as French, Polish, Belarusian, Portuguese, Rus-sian, Brazilian, Rumanian, and Chinese. I never expected to meet these friends and it became the most glittering gift to me.To tell the truth, I was a little bit afraid of going to China alone. Even though the economic devel-opment of China is growing and I had a specific goal to master Chi-nese, it was a hard decision to live in China by myself. Also it was a big challenge for me in order to

become independent. Now I can tell, the first day I arrived to my new dormitory, I felt so desperate and sad. It was so different from my ex-dormitory in Canada. It was so dirty, some appliances were broken, and I couldn’t under-stand what the Chinese workers said to me. However, I overcame this problem in a week after hav-ing good times with friends. I have beautiful girl friends; Aga-ta, Amelie, Anastasiya, Anna, Ju-lia, Kasia, and Tanita, handsome guy friends; Dennis, Gustavo, Fil-ip, Joao, Uyri and Vincent. I espe-cially thank Vincent, a romantic French guy, who introduced me to hangouts with other friends at the first time. He really helped me to feel safe in Nanjing. I still remember his good care and this was one of my primary energy sources for staying in China. We had big parties for celebrat-ing our birthdays, Christmas, and New Years. We cooked our own

The of youth

Lee, Yu-rim

CNU MBA Student JournalThe Blossom of my youth Lee, Yu-rim

countries’ meals for each other. I made them Korean food; Kimbap, Buchimgae and so on. They re-ally enjoyed Korean food. Some-times I was so confused whether I was in China or not. Most of the time, I spent time with European friends. Regarding my classes, I was a re-ally busy student. I did all my best for my classes every day. On the weekdays from 8am to 12am, I had Chinese classes, and on the weekend from 9am to 6pm I par-ticipated in MBA classes. It was too tough for me to go to class every day. There was no holiday for me, in fact. It was really ex-hausting, but I managed it well.

At the beginning, Chinese classes were hard for me. For my pro-gress in Chinese, I decided to take an intermediate class, not a beginner class. I could not under-stand anything what teacher said in September. My teacher gave a

lecture only in Chinese. But af-ter one month, I got accustomed to taking the class and finally I could catch up in the class. I fo-cused on studying harder for my Chinese classes than my MBA classes. However I made an ef-fort to speak Chinese, I am still a beginner. Chinese is a really difficult language to master. To improve and give motivation to myself to study well in Chinese, I enrolled in the HSK test which is a proficiency exam for Chinese. Unfortunately, I failed the exam only by one point. But it helped me to study lots of vocabularies.

Before leaving Korea, I still re-member what most of my Korean friends said to me, “meet a rich Chinese guy, live comfortably and invite us to China by your pri-vate airplane.” Although it didn’t happen, I met one good friend in my MBA class. His name is Eric, and he owns a trading company


which exports dental products to European countries. He was a re-ally nice person who showed me what I wanted to experience in China. He brought me to his com-pany and his business partner’s factory and showed how the wiper and sanitizers were made. It was the moment that I felt the real “MADE IN CHINA.” It was such a new experience for me and I felt that I had to work for trading de-partment to earn a lot of money. It was a really big realization and a good motivation for me.

Every Wednesday, there was a movie night for international stu-dents, which was proposed by my Polish friend Filip. We saw differ-ent kinds of movies from different countries like; Greece, France,

and Russia. The fourth time was Korean movie night. Filip and I chose “Spring, Summer, Fall, Winter, and Spring” which was directed by director, Kim Ki-duk. Before watching this movie, I in-troduced Korea briefly by showing a short video. International stu-dents didn’t know about the cul-ture differences between Korea and China. While preparing to in-troduce my country, I felt so much patriotism in myself and I was so proud of being Korean. Interna-tional students enjoyed the movie and we discussed about Bud-dhism. It was a good time to share our thoughts and our knowledge.I experienced a lot of new things and enjoyed my life during my five months in China. Before leaving China, I had a small farewell party

with friends in KTV. My Chinese MBA classmates were so kind to bring small gifts for me. But I felt that it is not saying goodbye, I thought we could see each other again.

Living in China was exciting and full of happiness at all times. I never regretted my decision to go to China as an exchange stu-dent. My beautiful memories will remain by keeping in touch with friends whom I met in Nanjing. I really thank my MBA School for giving me this chance to enrich my life.

CNU MBA Student JournalThe Blossom of my youth Lee, Yu-rim

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