Background of Homeplus
Background of Homeplus
“Homeplus” was initially owned by Samsung Corporation[1] in 1994. During the Asian financial crisis in 1997, Samsung was affect by the crisis and tried to strive its business in the retail industry. It eventually collaborated with Tesco, a major British retailer in 1999[2]. The joint venture benefited both Samsung and Tesco. Samsung was saved from bankruptcy, in the same time, Tesco was able to enter the tough local retail business because of the partnership with Samsung[3]. Tesco took over 94.68% shares of the company in 2011[4]. Vision - Great Stone Face Homeplus’s vision is to be recognized as the most admired company in South Korea[4][5][6][8]. The company concerns with two major value creation, which are the market and social value. “Face of Growth” is based upon the market value creation. It involves in stimulating value for customers by clearly understanding customers’ needs, in turn, providing these value to them, which benefits the company in terms of market value maximization[4][6][8]. Referring to customers’ satisfaction, Homeplus emphasizes on reliable shopping value. According to figure 3, there are several factors that the company must consider i.e. low price, wide range, high quality and great services or products.
Figure 3 Homeplus - Great Stone Face[6]
Figure 3 Homeplus - Great Stone Face[6]
“Face of Contribution” reflects the relationship between Homeplus and its stakeholders. It refers to the social value creation. That is, the company gives importance to its stakeholders and understands their expected value[4][6][8].
Figure 4 Stakeholder Viewpoint[5]
Figure 4 Stakeholder Viewpoint[5]
According to figure 4, it can be seen that Homeplus is the leading company among its competitors measured by the involvement with its stakeholders especially the local community. The integration of these two faces gives the
“Homeplus” was initially owned by Samsung Corporation[1] in 1994. During the Asian financial crisis in 1997, Samsung was affect by the crisis and tried to strive its business in the retail industry. It eventually collaborated with Tesco, a major British retailer in 1999[2]. The joint venture benefited both Samsung and Tesco. Samsung was saved from bankruptcy, in the same time, Tesco was able to enter the tough local retail business because of the partnership with Samsung[3]. Tesco took over 94.68% shares of the company in 2011[4]. Vision - Great Stone Face Homeplus’s vision is to be recognized as the most admired company in South Korea[4][5][6][8]. The company concerns with two major value creation, which are the market and social value. “Face of Growth” is based upon the market value creation. It involves in stimulating value for customers by clearly understanding customers’ needs, in turn, providing these value to them, which benefits the company in terms of market value maximization[4][6][8]. Referring to customers’ satisfaction, Homeplus emphasizes on reliable shopping value. According to figure 3, there are several factors that the company must consider i.e. low price, wide range, high quality and great services or products.
Figure 3 Homeplus - Great Stone Face[6]
Figure 3 Homeplus - Great Stone Face[6]
“Face of Contribution” reflects the relationship between Homeplus and its stakeholders. It refers to the social value creation. That is, the company gives importance to its stakeholders and understands their expected value[4][6][8].
Figure 4 Stakeholder Viewpoint[5]
Figure 4 Stakeholder Viewpoint[5]
According to figure 4, it can be seen that Homeplus is the leading company among its competitors measured by the involvement with its stakeholders especially the local community. The integration of these two faces gives the