October 18, 2010 10:59
Now that K-pop group Girls' Generation has almost single-handedly spurred a new round of the Korean Wave in Japan, a number of businesses are trying to benchmark the group for their management practice. It says Korean businesses should learn from the way the manufactured group has been managed -- building capacity through rigorous training over a long period of time and profiting from aggressive and bold global management strategies.
"The fact that many Korean idol groups are enjoying great popularity across the world, especially in Asia, despite a scarcity of resources is very suggestive for Korean companies in fierce global competition," the Samsung Economic Research Institute said in a report Thursday. The think tank urged Korean firms to take a close look at the nurturing process of manufactured bands like Girls' Generation, Super Junior, and Kara.
SERI researcher Jung Tae-soo said, "To accumulate successful experience, companies seeking changes have to take on challenges while managing risks through meticulous preparation and planning."
Japan's Nikkei Business recently drew a comparison between Korea's next-generation companies and Girls' Generation, analyzing the factors behind Korea's rapid economic growth.
Some companies are already using Girls' Generation in their marketing strategies. KTB Securities CEO Joo Won joined the fan club of Girls' Generation on Twitter, sharing his thoughts on various subjects with young members there. "Perhaps it is thanks to the fan club of Girls' Generation on Twitter, but the number of young customers has been increasing," the company said.
Girls' Generation is frequently named in investment reports by securities firms, who are aware that the band's overseas success is above all a source of profit for SM Entertainment, its management agency. The stock value of the company is soaring.
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