Market Analysis of South Korea

Because the Korean pension system is still relatively young and underdeveloped, its elderly poverty rate is higher than in other OECD nations. In most OECD nations, poverty among the elderly dropped sharply as pension systems matured. The rate in Korea is currently much higher than the rates for other population groups. Korea’s elderly poverty rate stands at 45.1% compared to a 13.5%, average for the 30 countries of the OECD. For those countries, poverty among the elderly dropped sharply from the 1980s onward, with the rate for those aged 66-75 falling below that of children and young adults. Social issues such as the high suicide rate among the elderly have led to a widespread perception of the need for a community-level response to poverty among the elderly.

This assignment had to be written for the class of Management and Organizations at Stenden University, course IBMS, first year. We had a group of 6 and had to work it out together. We were enjoying getting into the world of IKEA, the world’s most furniture store on the market.

Family traditions are passed on from generation to generation, however they are not always static rules. Tradition is like a living organism that adapts to change over time. In order to understand modern North Korea’s family customs, it is important to consider the tradition of the past. Before North Korea’s liberation from Japan in 1945, North Korean families operated differently than they do today. Their ideology was founded on Confucius’s principles of family, including “only a country where family life was harmonious could be peaceful and prosperous” (Asia Society). The family is an integral part of society the same way a cell is important to a body (Suzy, 264). The government is even considered “one family” that everyone is a part of (Monday). Every individual in a family has a role and every family has a role in society. The ideal family is modeled from Kim Il Sung’s nuclear family (Suzy, 268). It is clear that family is a fundamental priority in North Korean society.

Companies should invest in ergonomically correct furniture because it will earn them money in the long run. Workers will be sick less often, be more productive, be absent less and quit their job less often. Workers will be sick less because of less dust in the air around them and will be injured less because ergonomically correct furniture drastically lowers one’s risk of musculoskeletal and other injuries. They will be more productive because they are happier, healthier and not be fatigued or sore from incorrect posture or equipment. This will also lead to them calling in absent less as they enjoy work and are not injured or sick from the workspace. Finally, there will be less employ turnover because the employs will be happier and will love coming to work.

There are many cultural differences, however, in my opinion those that have the most importance attached while doing business, are the way they determine authority, the fact that negotiations are something they believe should be a hard fought battle, trust being something very important because reputation sells your products not how good a product you produce, and personal relationships are of major importance. When deciding who to put someone in charge you need to know

Parents are also much more strict on the children's education than then U.S parents. As stated by Eric, “Most Korean parents saw themselves as coaches, while American parents tended to act more like cheerleaders.” (pg.110) Parents in South Korea are more involved their children's education, while parents in the U.S are more involved in sports and clubs. Students in South Korea only focus on their education, they don't get involved with sports or any other activity that won't help their

Cushy Armchair, based in Hong Kong, a leader in the global armchair business has been successfully using its model of centralization for over 50 years. It operates fully autonomous business facilities in 17 countries. Cabletronica has recently acquired the company and has sent one of their own senior personnel to restructure operations and integrate the company with another of their furniture divisions outside of the country. Acting as a consultant, the founder of Cushy Armchairs Frances Wong is consulted regarding a communication on a change in policy, but the new head of the company Alison Sampson decides to use the parent company’s standard method of announcing changes email, and soon realizes that the

South Korea loves sport, sport is not only a popular physical activity but is a significant social practice. Sport operates as an important cultural resource and produces and disseminates nationalism. Indeed, in recent years, south korea has shown competence in hosting, playing, and managing sport. South Korean athletes have created notable results at major international sport events. For example, since 1984, the national Summer Olympic team has unfailingly been ranked in the top 10 nations on the medal table, with the only exception being the 2000 Sydney Olympic Games. The country has also produced a number of major world sporting events, including hosting

Thesis Statement: Though South Korea may be a small country, the style of cuisine, community culture, and generosity are just a few uniquenesses that outshine its stature.

The case I will analyze and discuss in this case study is “IKEA’s Global Sourcing Challenge: Indian Rugs and Child Labor”. I will begin with the vision, values, and strategy of IKEA and an internal analysis of the issues that they have faced as of the time of the case. Next, I will detail the issues IKEA faced in the years prior to the Indian rugs and child labor challenge. Then I will describe the Indian rug and child labor problem that IKEA faced

North Korea (officially named the Democratic People's Republic of Korea, or DPRK) is a single-party Communist state in south-east Asia, ruled since 1949 by the Korean Workers' Party (KWP). Regarded by many in the international community as a pariah state (meaning that it is an outcast), North Korea has in recent years become increasingly poverty-stricken, with many of its citizens having barely enough food to survive.

Japanese industry and infrastructure, which were virtually destroyed during World War II, were systematically rebuilt to transform the country into a global economic leader by the mid-1960s. Post-World War II, the seven-year U.S. occupation of Japan proved to be a blessing in disguise as the Japanese received $2 billion in aid from the U.S. in the form of food, fertilizers, petroleum products and industrial materials.

South Korea’s social structure revolves around the individual’s professional, family, and education background. People who have attained prestigious job titles, graduated from a first-rate university, or was born into an influential family are placed very high on the social structure. People who do not have a respectable education background are usually on the bottom of the status pole; however, it is possible for social mobility. The South Korean education system is similar to the one in the United States. Even though the years of attendance might be dissimilar from the US, the education system still consists of an elementary, middle, and high school. After graduating from high school, most students apply and attend universities from all across the nation.

At the end of World War II, Korea was a poor former agricultural colony of Japan. But the rapid growth of Korea’s industrial economy has been remarkable. The economy of South Korea is now the third-largest in Asia and the 13th largest in the world by GDP as of 2007. To trace back the economic development of South Korea, the former president Park Chung-Hee played a pivotal role, and was credited for shifting its focus to export-oriented favoring a few large conglomerates. Unlike his predecessors, Park showed a strong commitment to economic development, believing good economic performance as a primary means for enhancing his political legitimacy. Under the President Park Chung-Hee’s era, the government played a dominating role in a

Manners represent an individual by the way they dress, behave, communicate, and their etiquette, while customs refer to the traditional way that a culture is practice individually, or by a group of people. Workers are expected to bow to their seniors when they greet them, and to use only formal language to their seniors, as it is rude to speak informally to someone of higher rank. In Korean businesses, meetings are often held in evenings at a restaurant or bar. Drinking is part of the Korean culture, as Koreans believe that drinking helps to bond colleagues in the company, and an offered drink must never be refused as it is considered to be rude. Along with drinking, Karaoke is a popular activity after meetings. People who attend the meeting are usually expected to sing a solo song.