Stretch goals are an essential part to LGE's global success. I like to tell my people that 5 percent is impossible but 30 percent is possible. Using past methods, we barely achieved even a 5 percent improvement.
However, if we change the approach to induce innovative ideas, a 30 percent innovation can be achieved. If we set a 30 percent stretch goal, we can take a fundamentally different approach; since we have to change the very idea and methods for innovation. We should take a creative approach in order to gain results that are greater than expected.
I am also a firm believer in field management. Reports submitted by LGE managers are what I refer to as taped recordings of what happened from someone else's perspective.
Being actively involved in the field allows me to witness the action live and make a decision right there on the spot.
What is your definition of "right" people and what qualities do you look for?
An ancient Chinese proverb says, "A foolish old man can move mountains." This implies that if one steadily strives in his work, he will eventually achieve something great. I refer to people like Yu Gong as the "right people".
The "right people" are the very people who delve into what they are assigned to do and move forward persistently to accomplish their goals.
Also, the "right people" will become "great people", when they grow mature and come up with substantial achievements, and are armed with unrivalled abilities.
I also believe that the "right people" should be assigned to the right place at the right time to realise fast growth and fast innovation as well as substantial achievement. This also means that the company needs the "right people" who share the company's values, challenge themselves persistently and boldly with lofty goals, and have the passion to work.
