[Sponsored Report] GS works toward shared growth with partners

Employees of GS Caltex and Wooju General Construction work in the field. [GS GROUP]

GS Group is pursuing a management strategy of shared growth with contractors based on a spirit of cooperation and co-development. The group is especially seeking growth on equal terms with its partners under the idea that the number of competitive small businesses should increase. GS is also fostering mutual trust and transparent contracts and strengthening the competiveness of each partner through support programs.

All subsidiaries of GS Group have engaged in this management philosophy of shared growth and significantly expanded cash flow to contractors.

GS will establish a cooperation structure to let small, promising contractors gain more opportunities. GS is pursuing sustainable development with contractors by operating programs to develop business competiveness, providing support funds, technology development, education and training.

Since 2016, GS Caltex has conducted productivity support programs for small businesses to solve technological problems and earn needed technologies. Through the program, GS Caltex has helped five businesses in 2016 and six in 2017. It is planning to support 12 more in 2018 and maximize advantages through this support.

Casting off its image as major construction company, GS Engineering & Construction (E&C) is proceeding with business activities in three categories: environment, economy and community.

Taking into consideration the amount of dependence in the construction industry and the necessity of effective strategy, GS E&C has established a transparent and collaborative system through win-win management with selected partners. The Great Partnership Package strives to increase communication, productivity and financial support aimed at strengthening a shared growth system.

GS E&C has made connections through its Symbiotic Development Committee, and its Shared Growth Committee includes the CEO and other executives. Together with the Great Partnership Shared Growth Committee, the company operates a Xi CEO Forum for better communication and growth among executives.

GS Retail has developed a differentiated shared growth strategy to satisfy customers and partners, and established plans for shared growth including fair trade programs. Its convenience store chain GS25 believes shared growth can begin by recognizing franchisees as owners who actually run the stores and thinking of them as “partners” in shared growth.

GS25 also provides opportunities for employees to air their difficulties and make recommendations at a monthly management meeting. Since 2005, the company has also selected top-performing executives to pursue opportunities to work abroad.

GS Retail is doing its best to support and enforce a promising business and award the best corporations through its annual Best Partner Awards.

GS Home Shopping has been complimented for overcoming risks during overseas distribution and achieved global shared growth by expanding overseas together with small businesses. Based on its overseas network, GS Home Shopping is trying to open the foothold for them to expand overseas.

BY KIM MIN-JI [kim.minji4@joongang.co.kr]