Despite a workforce of over 300,000 employees, Samsung Electronics says they want to adopt a corporate culture similar to a startup company in an effort to retain a lead role in the markets where they operate despite projected slowdowns in growth opportunities. The manufacturing giant says their executives will be expected to embrace open dialogue even as the company moves to reduce the levels of hierarchy that exist.
In a statement issued by Samsung, the company aims “to reform our internal culture, execute as quickly as a startup company and push towards open communication and continuously innovate.” The challenge to implementing this new culture will be the initiative of the current environment that has been described as “military-style.” Some analysts also worry that Samsung may lose some of the fast-execution qualities the company has achieved if they tinker with things too much.
The move to re-orient the corporate culture comes after other measures have been implemented in recent years. Those included moves like the introduction of flexible working hours, relaxing the dress code on weekends, and reducing pressure for employees to engage in post-working hours drinking sessions. Some of the new changes to be introduced include a reduction in internal meetings, simplifying reporting procedures, reducing overtime and weekend work, and even encouraging employees to spend more time with their families.
One part of the Samsung business that may serve as inspiration for the larger organization is the Creative Lab. That unit is an in-house incubator that has recently produced items like the Entrim 4D headphones and the rink hand-motion VR controller. Through the Creative Lab, Samsung is encouraging employees to pursue their own ideas.