GS Group chief stresses “agile” response to uncertainties

SEOUL-- The chief of GS Group, a South Korean refiner-to-construction conglomerate, on Sunday called on its employees to be "agile" in riding out the various uncertainties ahead.

GS Group Chairman Huh Chang-soo made the comment in a strategy meeting with 50 executives from the group's major affiliates such as GS Caltex Corp. and GS Engineering and Construction Co.

"GS has to encourage employees to present creative and voluntary ideas based on a stable and effective working process. And a fast decision-making process should also be established, while putting a priority on what's going on in business fields," the chairman at the meeting held in Chuncheon, 85 kilometers northeast of Seoul.

Not only high-tech companies such as Google and Amazon but also traditional manufacturers such as General Electric and Siemens are restructuring themselves to meet rapidly-changing business trends, he said.

GS Group has recently established the "We+Dea" team to collect ideas from employees and utilize them in setting up business plans.

In the meeting, McKinsey Global Institute Director and Senior Partner Jonathan Woetzel and other economists advised South Korean companies to transform themselves into more "agile" players amid growing volatility, uncertainty, complexity and ambiguity in business environments.

They also suggested Korean companies desert their decades-long top-down management style and stop boasting of being a "fast follower" as this trait can be a major obstacles for their future growth.

Source: Yonhap News Agency

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