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Abstract

A series of fatal accidents, coupled with operational inefficiencies snowballed Korean Air into troubled times. Then, at the beginning of the 21st century, its Chief Executive Officer / Chairman, Yang-Ho Cho undertook various transformation initiatives - for instance: (1) improving service quality and safety standards; (2) technology integration; (3) upgrading pilot training; (4) better business focus; (5) putting in place a professional management team; and (6) improving corporate image through sponsorship marketing, etc. He gave a new corporate direction in the form of a ''10,10,10'' goal. However, Korean Air is held up by a slew of challenges. Among which are the inefficiencies of: (1) the Chaebol system of management; (2) a possible clash of its cargo business with its own shipping company; (3) limited focus on the domestic market; and (4) growing competition from LCCs. How would Korean Air manage growth as a family-owned conglomerate? The case offers enriching scope for analysing a family business'' turnaround strategies, with all the legacy costs involved. A structured assignment ''307-413-4'' is available to accompany this case.
Location:
Industry:
Other setting(s):
2006-2007

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Abstract

A series of fatal accidents, coupled with operational inefficiencies snowballed Korean Air into troubled times. Then, at the beginning of the 21st century, its Chief Executive Officer / Chairman, Yang-Ho Cho undertook various transformation initiatives - for instance: (1) improving service quality and safety standards; (2) technology integration; (3) upgrading pilot training; (4) better business focus; (5) putting in place a professional management team; and (6) improving corporate image through sponsorship marketing, etc. He gave a new corporate direction in the form of a ''10,10,10'' goal. However, Korean Air is held up by a slew of challenges. Among which are the inefficiencies of: (1) the Chaebol system of management; (2) a possible clash of its cargo business with its own shipping company; (3) limited focus on the domestic market; and (4) growing competition from LCCs. How would Korean Air manage growth as a family-owned conglomerate? The case offers enriching scope for analysing a family business'' turnaround strategies, with all the legacy costs involved. A structured assignment ''307-413-4'' is available to accompany this case.

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Location:
Industry:
Other setting(s):
2006-2007

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