![[산업리뷰] Lotte Chairman Shin Dong-bin “If survival is urgent, there is no reason for existence”](http://www.financialreview.co.kr/news/thumbnail/202101/19730_22018_586_v150.jpg "[산업리뷰] Lotte Chairman Shin Dong-bin “If survival is urgent, there is no reason for existence”")
[파이낸셜리뷰=채혜린 기자] Lotte Holdings Chairman Shin Dong-bin mentioned’innovation’. He emphasized the point that companies that are in a hurry only to survive have no reason for their existence and must grow newly through innovation.
The company that boldly innovated during the crisis said that the growth rate was large after the crisis, and emphasized that it should be thoroughly prepared for the second quarter when the Corona 19 pandemic is expected to enter a stable phase.
He also emphasized that the company should present a vision that can show its employees the future 5-10 years from now.
The first presidential meeting this year
On the 13th, Chairman Shin held the ‘2021 First Half Lotte Value Creation Meeting (VCM)’ in the conference room on the 18th floor of Lotte World Tower in Jamsil, Seoul.
About 130 people, including Chairman Shin, CEO of each company, Lotte Holdings, and four business unit executives attended the meeting. Of course, it was conducted as a non-face-to-face video conference to comply with the COVID-19 prevention rules.
Chairman Shin said that last year the Lotte Group had a more difficult time than any other year.
Above all, he pointed out that since last year there is a limit to innovation based on the current method and that painful reflection is necessary.
Chairman Shin asked what is the core competitiveness of each company, saying that it is necessary to thoroughly prepare for when the pandemic begins to stabilize after the second quarter of this year, and the CEO who can present the company’s appearance to executives and employees 5-10 years later I emphasized that it should be done.
In particular, taking the’Nike’ brand as an example, he explained that not only excellent products, but also the value of respect for athletes, was delivered to customers, resulting in a strong brand power.
Should meet the fast market environment
He stressed that success can only be achieved with a clear vision and differentiated values tailored to each company, and emphasized that it should be reviewed frequently to ensure that it meets the rapidly changing market environment.
In particular, he talked about continuous innovation, saying, “There is no future or meaning for a company that is obsessed with survival or past success experiences.”
In addition, he urged, “Companies that cannot become innovative should consider drastic portfolio adjustments.”
Above all, he said, “In particular, it is necessary to make a drastic investment, especially in response to digital innovation, such as DT (Digital Transformation) and R&D (R&D) investment, and differentiated corporate value creation through brand reinforcement.” .
In addition, he said, “In order to renew the corporate culture, we have performed more organizational reorganizations and personnel than ever in the past two years.”
Lastly, he encouraged, “Even during the IMF (International Monetary Fund) and Lehman crisis, Lotte made meaningful results through bold decisions. We have a’crisis DNA’,” he encouraged.
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