Sam acknowledges that Samsung grew rapidly and made smart business decisions:
During the late 80s and early 90s it seemed all but inevitable that Japan would become the dominant manufacturing power in the world. Of course, today the country struggles against South Korean rivals, battered by a hostile exchange rate and sky-high labor costs, but it was Lee’s foresight around two decades ago that allowed Samsung to get the jump on the likes of Sony. He saw Japanese firms dragging their feet on digital technology, creating an opportunity for Korean companies to muscle in on their turf with better, more efficient business practices.
However, he holds no punches on the negatives of the chaebol family system and its relation with government:
While Lee Kun-hee once implored his workers to “change everything but your wife and kids,” that change may not go far enough for Samsung. The traditional chaebol model has helped the company become one of the most successful in the world, but its conservative values are unlikely to help it become a major force for innovation. Lee Kun-hee’s controversial time in charge has undeniably brought the company success — for Samsung to become a truly loved brand, however, it must start looking to a new generation of leadership that prioritizes design and originality over ruthless competition.
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