q Sources of sustainable competitive advantage Barney 1991

초우량 기업의 조건 q 지속적 경쟁우위의 원천(Sources of sustainable competitive advantage: Barney, 1991) - VRIO (Something Valuable, Rare, Inimitable, and Organizationally-embedded) q BSC (Balanced Score Card) Model (Kaplan & Norton, 1992) 재무적 성과 고객만족 / 가치제공 경영 프로세스 역량; 비용, 품질, 스피드 핵심역량 학습 카이스트 테크노경영대학원 3

3 M n Vision § 다양한 기술을 바탕으로 혁신적이고 실질적인 Solutions 의 제공 Innovative and Practical Solutions from a Diversified Technology Company Our Missions ― n § 지속적이고 양질의 성장을 통해 주주들에게 매력적인 수익을 제공 ― Provide investors an attractive return through sustained, quality growth. § 월등한 품질과 가치, 서비스를 제공함으로써 고객을 만족 ― Satisfy customers with superior quality, value and service. § 우리 사회 및 자연 환경에 대한 존중 ― Respect our social and physical environment. § 종업원들이 자랑스럽게 느끼는 기업을 창조 Be a company employees are proud to be part of. Mc. Knight 의 경영 원칙과 핵심 가치 ― n § William L. Mc. Knight Management Principles Created 3 M's Corporate Culture § Autonomy, Risk Taking (Tolerance for Mistakes), Trust for People 카이스트 테크노경영대학원 5

3 M n 핵심가치를 지원하는 각종 제도 § 15% Rule § 30% Rule § 11 th Commandment: 신제품 아이디어를 죽이지 말라 § “넘어지지 않는 아이는 걷지도 못한다” § Genesis Grants § Alpha Grants § Corporate Venture Program § Carlton Society § Technical Center of Excellence 카이스트 테크노경영대학원 6

IBM n Vision § Global Innovation Leader n Mission Statement § At IBM, we strive to lead in the creation, development and manufacture of the industry's most advanced information technologies, including computer systems, software, networking systems, storage devices and microelectronics. § We translate these advanced technologies into value for our customers through our professional solutions and services businesses worldwide. n Core Values § IBMers determined that our actions will be driven by these values: - Dedication to every client's success - Innovation that matters, for our company and for the world - Trust and personal responsibility in all relationships 카이스트 테크노경영대학원 7

New HP Way (+hp way) Cultural cornerstones for the new hp (release 1. 0) structure & processes corporate objectives strategies customer loyalty employee commitment leadership capability growth market leadership behaviors global citizenship profit policies& practices 카이스트 테크노경영대학원 8 metrics & rewards

[HP] +hp way quick reference + Our Corporate Objectives Guiding our thinking, decisions and actions Customer loyalty Profit Market leadership Providing products, services and solutions of the highest quality and delivering more value to our customers that earns their respect and loyalty. Achieving sufficient profit to finance our company growth, create value for our shareholders, and provide the resources we need to achieve our other corporate objectives. Growing by delivering more useful and significant products, services and solutions to markets we serve – and expanding into new areas that build on our technologies, competencies and customer interests. Growth Recognizing and seizing opportunities to grow as the market changes; using our profits and abilities to develop and produce more innovative products, services and solutions that satisfy customer needs and drive their success. Commitment to employees Sharing the company’s success with the employees that make it possible; creating the best work environment – one that is safe, stimulating, diverse, inclusive and reflects our values; fostering a sense of personal satisfaction and accomplishment for employees. Leadership capability Global citizenship Develop great leaders at all levels that reliably, predictably, and relentlessly drive HP to win, grow and thrive – today and tomorrow – while exemplifying our values in their behavior, actions and business practice day-to-day. Fulfilling our responsibility to society by being on economic, intellectual and social asset to each country and community where we do business. 카이스트 테크노경영대학원 9

[HP] +hp way quick reference + Our Shared Values The way we get things done We are passionate about customers. We put the customer first in everything we do. We have trust and respect for individuals. We approach our work with the belief that people want to do a good job – and will do so, when given the right tools and support. We perform at a high level of achievement and contribution. We are relentless in implementing better ways of getting results. We conduct our business with uncompromising integrity. We are open, honest and direct in our dealings. We achieve our results through teamwork. Effective collaboration is key to our success. We deliver meaningful innovation. We are the technology company that invents the useful and the significant. We act with speed and agility. We achieve results at a rate faster than our competitors. 카이스트 테크노경영대학원 10

[HP] 핵심가치 n HP는 Carly Fiorina의 취임 후 “New HP Way”를 만들어 나가기 위하여 다음과 같이 핵심가치를 조정 Current Value (New HP Way) # of Values Old Value 1 Passion for customers 2 Trust & respect Trust and Respect for the Individual 3 Achievement & Contribution Achievement and Contribution 4 Uncompromising Integrity 5 Teamwork 6 Meaningful innovation Flexibility & Innovation 7 Speed & agility 카이스트 테크노경영대학원 비고 신규로 추가 변경 신규로 추가 11

[HP] +hp way quick reference + Our Standards of Conduct The way we work with colleagues, partners and customers Better Work Environment Policy Standards of Business Conduct HP aspires to be the best place to do business and the best place to work. This policy sets expectations for behavior and actions in the work and business environment, linking behavior to HP’s business success. These are the standards HP has set for conducting business – and ensuring our business practices are ethical, comply with legal requirements and align with our commitment to uncompromising integrity. Nondiscrimination Policy States HP’s ongoing commitment to people and to fair employment practices. Includes our Diversity & Inclusion philosophy and our policy statesments for compliance and equal opportunity. Harassment-Free Work Environment Policy States HP’s commitment to maintaining a work environment free of all forms of harassment – one where everyone is treated with dignity, respect and courtesy. Misconduct Policy Defines what HP considers misconduct as when an employee engages in harmful or illegal acts which involve or affect the company or which occur on HP property. Open Door Policy Sates HP’s commitment to a positive, open work environment – a place where everyone’s voice is heard, where issues are promptly raised and resolved, and where communication flows across all levels of the company HP Behavior Continuum 카이스트 테크노경영대학원 A versatile tool that depicts a range of behaviors in the work environment, including supportive, conflicting, and unacceptable behaviors. 12

II. 기업 비전과 핵심가치 n n n 기업 비전: 장수기업이 되기 위한 조건 (Built to Last, 1994) § 기업의 핵심본질 (Core ideology) 과 미래모습(envisioned future)으로 구성 § 기업과 구성원의 행동 지침을 제공하고 강력한 동기부여를 제공 기업의 핵심 본질 (Core ideology) § Core value: 변하지 않는 기업의 원칙과 기본이 되는 사상 § Core purpose: 기업의 궁극적인 존재 이유 미래의 모습 (Envisioned Future) § BHAG (Big, Hairy, Audacious Goal): 10 - 30년 미래의 모습에 대한 목표 ― Target BHAGs: Become a $125 Billion company by the year 2000 ― Common-enemy BHAGs: Beat Xerox or Crush Adidas ― Role-model BHAGs: Become a Harvard of the West ― Internal-transformation BHAGs: Become a #1 or #2, and combine the strengths of a big company and agility of a small company § Vivid description: ― 구성원들이 Passion, emotion, conviction을 갖도록 명료하게 기술해야 ― Send a man to moon (NASA in 1960 s) 카이스트 테크노경영대학원 21

Mission Statement란? n Mission은? § 기업의 존재이유 (reason to be) 를 제시 § 비전에 비해 좀 더 구체적이고 비전을 달성하기 위한 방법을 제시 — 사업 영역 (Business Domain): Product/Service, Customer/ Market, Geography — 경쟁 방식 (Competitive approach): quality, innovation, cost, customer service — 차별적인 가치 (Distinctive value): people, speed, integrity § Stakeholder approach — 주주 (Stockholder) — 고객 (Customer) — 종업원 (Employee) — 사회 (Community) § The Roles of Mission Statement — 전략 수립을 guide 하는 경계를 설정 — 여러 차원의 기업 성과에 대한 표준을 설정 — 개인의 윤리적 행동 표준을 제시 카이스트 테크노경영대학원 24

문화의 특성 (혁신적 조직 문화) n n 혁신적 조직 문화의 다차원적 특성 (Creative Tension) n Creative Freedom vs Control n Differentiation vs Integration n Individualism vs Collectivism n Localism vs Professionalism n Contemplation vs Action 서로 모순되는 가치관을 타협(Compromising)하는 것이 아니라 융합(Synthesizing) 하는 것이 창조적인 문화 카이스트 테크노경영대학원 37

Southwest Airline Mission n The Mission of Southwest Airlines The mission of Southwest Airlines is dedication to the highest quality of Customer Service delivered with a sense of warmth, friendliness, individual pride, and Company Spirit. n To Our Employees We are committed to provide our Employees a stable work environment with equal opportunity for learning and personal growth. Creativity and innovation are encouraged for improving the effectiveness of Southwest Airlines. Above all, Employees will be provided the same concern, respect, and caring attitude within the organization that they are expected to share externally with every Southwest Customer. 카이스트 테크노경영대학원 49

SWA 조직 문화 n Customer service n Hard work & Dedication n Efficiency n Egalitarian or Community Culture n Teamwork n Fun & Trust for People 카이스트 테크노경영대학원 54

정합성을 통한 경쟁우위: Southwest Airlines’ Activity System No meals Limited Passenger service No baggage transfers No Connections With other airlines No Seat assignments Frequent Reliable departures High compensation of employees Flexible Union contracts 카이스트 테크노경영대학원 15 -minute gate turnarounds Lean, highly Productive Ground and Gate crews High level Of employees Stock ownership Limited use Of travel agents Automatic Ticketing machines High Aircraft utilization 57 Standardized Fleet of 737 aircraft Very low Ticket prices Short-haul, Point-to-point Routes between Midsize cities and secondary airports “southwest The low-fare airlines

인적 자본을 통한 성공적 기업의 7가지 속성 Percent of IPO’s S Surviving After Five Years Probability of an Initial Public Offering Firm’s Surviving Five Years 87. 0 % 79. 0 % 60. 0 % 45. 0 % Value Placed on Human Resources Rewards Used One standard deviation above the mean 카이스트 테크노경영대학원 One standard deviation below the mean 60