Week4_YGE_Group(no.12).pdf - Name Yazhuo Wang Pinxi Wang Dongming Lan Seat Group Number:12 YG Entertainment Worksheet The political economic and

Week4_YGE_Group(no.12).pdf - Name Yazhuo Wang Pinxi Wang...

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Name: Yazhuo Wang; Pinxi Wang; Dongming Lan Seat: Group Number:12 YG Entertainment - Worksheet The political, economic, and cultural factors behind YG’s success are: Political 1) Plan Pop culture-key strategic) 2) Regulation support (copyright protection) 3) Large budget support policy Economic : 1 Economic base: large chaebol conglomerates (LG, Samsung etc.) 2) Demand for new source of export revenue. Culture : 1)Seo Tai-ji and Boys’ legacy 2)Shifting of mainstream music (trots & ballads-Hip Hop 3) Large consumer base e.g. teenagers. The strategy and management practices that contributed to YG’s success are: Selection : rigorous; talent first; rookies first Training : Factory model; review system (incentive mechanism) Management : YG Family Culture (company value)- 78% retention rate Promotion : Controversial press releases; teaser videos YG is different from other companies (Asian and US) in the following manner
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  • YG Entertainment, large consumer base, large budget support, YG’s success, YG Family Culture, Controversial press releases

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