global hr forum2008-yasho_verma-hrd and utilization strategy of global enterprises in korea and...
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HUMAN RESOURCE DEVELOPMENTHUMAN RESOURCE DEVELOPMENTAND UTILIZATION STRATEGY OFAND UTILIZATION STRATEGY OF
GLOBAL ENTERPRISES IN GLOBAL ENTERPRISES IN KOREA AND MIDDLE EASTKOREA AND MIDDLE EAST
Dr. Yasho Verdhan Verma
Global HR Forum – 2008 : April 21-22, DubaiLG Electronics India Ltd.
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AGENDA FOR DISCUSSION AGENDA FOR DISCUSSION ……
• The phenomena of ‘Globalisation’
• Knowledge Management strategies of global enterprises
• Knowledge accumulation through Industry-Academiccooperation
• Global trends in Human Resource Development
• HRD trends in South Korea and the Middle East
LG Electronics India Ltd.
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GLOBALISATION GLOBALISATION –– INTEGRATING ECONOMIESINTEGRATING ECONOMIES
• Omnipresence of information
• Knowledge – A factor ofpolarization
• Managing Diversity andCulture
Key ChallengesKey Challenges
• Exodus of Talent
LG Electronics India Ltd.
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The growth rates in the US and Europe are being eclipsed by The growth rates in the US and Europe are being eclipsed by competitors further East competitors further East
LG Electronics India Ltd.
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THE KNOWLEDGE MANAGEMENT PREPOSITIONTHE KNOWLEDGE MANAGEMENT PREPOSITION
GLOBALINTEGRATION
KNOWLEDGEBASED
ECONOMY
TECHNOLOGYCHANGE
KNOWLEDGEKNOWLEDGEMANAGEMENTMANAGEMENT
• Trade• Investment• Capital flows• Skilled labour
• Growth of the Internet
• Increased investment in R&D
• Strategic acquisitions
• Telecommunicationboom
• Increased ITinvestments
LG Electronics India Ltd.
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ACADEMICACADEMIC--INDUSTRY COLLABORATIONINDUSTRY COLLABORATION
Industry-specific R&D
Government-Industry technology transfer
University-Industry research centres
Industry oriented academic courses
• Access to complimentary capabilities• Access to specialised skills• Access to state-of-the-art facilities
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Industry-Academic partnership : LG Case
LG partnered with Helsinki School of Economics Executive Education (HSEEE), leaders in international mgmt. education in Finland, for a company-specific Executive MBA programme for its top management
International MBAPractical approachEnglish language Work-Study balance
CORE MODULES• Economics for Executives• Management Accounting• Human Resource Mgmt• Intl Operations Mgmt• Intl Mktg Mgmt• Strategic Mgmt & Corp Strategy• Mgmt Communication
LEARNING PROCESS• Group interaction• Examinations
• Reading material• Case analysis• Simulations• Presentations
• Inter-cultural orientation• Strong inter-personal relationship• Global opportunities• Expansion of global business
perspective• Adapt to changing global env.
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Outsourcing Talent Management
Productivity
InnovationWork-Lifebalance
HR impact onbottom line
GLOBAL HRGLOBAL HRCHALLENGESCHALLENGES
Demographictrends
Workforceengagement
LG Electronics India Ltd.
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SOUTH KOREA SOUTH KOREA –– AN EMERGING ECONOMYAN EMERGING ECONOMY
SOURCE : MoonHee Kim, Min. of Edu & HRD, Republic of Korea
LG Electronics India Ltd.
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South Korea – Economy at a Glance
• South Korean economy has grown 5.9% p.a. for the last40 years
- GNP per capita : $87 (1962) > $14,105 (2004)
• South Korean economy has been stagnant for the last 10 yrs
- GDP growth rate : ’80s (8.3%) > ’90s (6.0%) > ’00s (4~5%)
• Source of growth during the industrial era : Physical capitaland Labour
• Engines of growth in a knowledge-based economy :
Knowledge, Human Capital and Social CapitalKnowledge, Human Capital and Social Capital
LG Electronics India Ltd.
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SOURCE : MoonHee Kim, Min. of Edu & HRD, Republic of Korea
Leapfrog is needed !!
LG Electronics India Ltd.
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LG Electronics India Ltd.
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CHANGING HRD TRENDS IN SOUTH KOREACHANGING HRD TRENDS IN SOUTH KOREA
Global bestpractices
HR practicesIn Korea
• Internal labour mkt-based • External labour mkt-based
• Seniority-based perf. evaluation • Performance-based perf. evaluation
• People based • Work based
• Domestic based • International based
• Vertical structure • Horizontal structure
• Generalist • Specialist
LG Electronics India Ltd.
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MIDDLE EAST ECONOMY AT A GLANCE MIDDLE EAST ECONOMY AT A GLANCE
• Accelerating GDP (3.6% in ’90s > 6.3% in 2006)
• High oil prices
• Boom in real estate prices
• Increase in government spending
• Growth in employment rates (4.5% growth in last 5 years)
• Abundance of natural and oil resources
• Potential for agricultural development
LG Electronics India Ltd.
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CHANGING ROLE OF HRD IN MIDDLE EASTCHANGING ROLE OF HRD IN MIDDLE EAST
Avg. spending on HR function (as a % of operating cost)
• 62% of ME orgn significantly involved in creating HR strategy(E&Y survey)
• Manpower planning an integralpart of business plan
• 62% orgn adopted change instructure in last 2 yrs
• 75% cos. had a well definedgrading structure
• 85% cos. had a well definedvision statement
• 67% cos. regularly conducted an organisational culture assessment
LG Electronics India Ltd.
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THE ROAD AHEAD THE ROAD AHEAD ……
Reduce South Korea’s dependency on tri-polar economies
Overcoming protectionism and economic regionalism
Achieving higher levels of manpower productivity
Maintaining peace in the region for economic stability
Ability to cope with warring segments
Talent Management amongst employees
SOUTH KOREA
MIDDLE EAST
LG Electronics India Ltd.
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CHANGING ECONOMIC
SCENARIOKnowledgeKnowledge
MgmtMgmt
Role ofRole ofHRD HRD
SUCCESSFULSUCCESSFULGLOBALGLOBAL
ENTERPRISESENTERPRISES
HRD and Knowledge Management play a pivotalHRD and Knowledge Management play a pivotalrole in achieving global success in a constantly role in achieving global success in a constantly dynamic economic scenariodynamic economic scenario
TOWARDS A GLOBAL ENTERPRISE TOWARDS A GLOBAL ENTERPRISE ……
LG Electronics India Ltd.