SK Telecom(President: Jung Uck Seo) said that its 1998 business objectives will be; first, making strategic adjustments to survive the increasingly firece competition; second, improving the call quality; third, expanding the service coverage on a continual basis; and fourth, carrying out management innovation toward customer-orientedness.
In the 1998 business plan, the company projected that its 1998 sales will be 3.8 trillion won(about 2.53 billion dollars) and said that it will operate based on the Rolling Planning and Scenario Planning, which are expected to help it to cope with the rapid changes in the business environment such as abrupt market contraction.
With a view to increasing the sales to the projected figure, SK Telecom will invest 1 trillion won(about 666.7 million dollars) for the continued expansion of mobile phone service coverage.
SK Telecom also intends to improve the current NetsGo service, its Internet access service launched last year, to increase its customer base and make more multimedia application services interoperable with SK Telecom’s wireless communications capability.
Moreover, the company plans to roll out the Iridium service all across the world simultaneously from this September. The services to be offered include mobile phone, paging, data transmission and fax services via satellite.
Note)
1. Rolling Planning: To maintain the annual business plans flexible and open to reflect the monthly or quarterly figures. This is to respond effectively to the unpredictable developments in the business environment.
2. Scenario Planning: To draw several scenarios that depict hypothetical situations where the unpredictable environmental elements affect the company and the strategies it can deploy to effectively respond to or cope with them. This is to minimize the risks involved in doing business in a quikly changing environment.