[Asia Economy Reporter Hwang Yoon-joo] SK Group has revised its unique management philosophy, the 'SK Management System (SKMS),' emphasizing the happiness of its members, who are the main agents of management activities, and the happiness of stakeholders to sustain it. This clearly establishes that the members are the agents who must simultaneously pursue the happiness of both the members themselves and the stakeholders surrounding the company.
On the 20th, SK Group officially announced through its internal channels, gbs and toktok, that it revised SKMS with the main points including ▲emphasizing the role and practice of members as agents of happiness management ▲expanding the scope of stakeholders to include customers, shareholders, society, and business partners ▲conceptualizing the happiness of stakeholders to be pursued together as 'social value.'
Earlier, at the SKMS revision proclamation ceremony and SKMS practice pledge ceremony held on the 18th, Chairman Chey Tae-won, Chairman Cho Dae-sik of the SUPEX Council, and CEOs of major SK affiliates attended. Chairman Chey presented the purpose and core contents of the 14th revision of SKMS in a 15-minute TED-style presentation.
Chairman Chey emphasized, "We revised SKMS to establish SK’s management orientation as sustainable member happiness and to realize happiness through SUPEX pursuit via VWBE (Voluntary and Willful Brain Engagement). Since SKMS is our shared belief and way of working that we have promised to practice together, let us use the new SKMS as a compass to enhance the execution power of happiness management."
According to this revision of SKMS, members, as the agents constituting SK, will pursue the happiness of all stakeholders surrounding the company simultaneously with their own happiness. In addition, the scope of stakeholders, previously limited to customers, shareholders, and society, now includes business partners, while emphasizing the support and trust relationships with stakeholders who create happiness together.
In particular, social value is defined in this 14th revision as all values created for the happiness of stakeholders. This stipulates that creating such social value means providing the value expected by stakeholders in addition to creating economic value.
Since its first establishment by the late founder Chey Jong-hyun in 1979, SKMS has been revised over the past 41 years to adapt to management environments and social demands, including ▲personnel and R&D management ▲establishment of the SUPEX pursuit concept ▲confirmation of the five-step work process and SUPEX pursuit method ▲introduction of stakeholder happiness and system management framework.
SK explained that SKMS has served as the foundation of a strong corporate culture that helped SK Group overcome crises during difficult domestic and international management environments such as the 1970s oil shock, the 1990s foreign exchange crisis, and the 2000s global financial crisis. It also acted as the driving force enabling large M&As such as those with Korea Telecom, HiNix, and others.
Recently, SKMS has proactively reflected the pursuit of stakeholder happiness, expansion of the group concept, and pursuit of social value, thereby incorporating the corporate social role and contemporary demands.
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