Change Management of Former Daewoo Group after IMF Crisis : analysis using multiple frames thinking method
Graduate School of International Studies Korea University
Former Daewoo Group IMF Crisis Change Management;
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The former Daewoo Group, once Korea's second biggest conglomerate, collapsed in 1999 under eighty billion dollars of debt, almost fourteen percent of Korea's gross domestic product. With thirty-three domestic affiliates, three hundred and seventy two overseas subsidiaries and more than three hundred and twenty thousand employees, Daewoo was considered to be too big to fail. But Daewoo's relentless overseas expansion that was financed mostly by debt led the company to fall apart during the Asian financial crisis. The purpose of this thesis is to analyze the change situation the former Daewoo Group had to experience in more than one perspective, using the multiple frames thinking method. Exploring the situation from the Structural Frame, Human Resources Frame, Cultural Frame and Political Frame, the analysis will aim to draw the lead frame that is the most important frame that drives change forward and the deal frame that has the most potential to cause the change to fail. Touching upon the present situation of the former Daewoo Group units, the thesis will finish up by introducing an ideal set of steps for leading change.