Business Traditions of Lotte Group

Table of Content
Executive summary 1
1. Introduction 2
2. Background of Lotte 2 2.1The history of Lotte 2 2.2 A presenter of South Korea 3
3. Business traditions of Lotte 3 3.1A strong sense of national identity 3 3.2 Hard-working & Dedicated attitude in Lotte 4 3.3 Pursuing high quality of product and service 5
4. Strategic Development of Lotte 6 4.1 Product development and diversification 7 4.2 Advanced brand management 8 4.2.1 Be ‘Lotted’ 8 4.2.2 A well-built official website 8 4.2.3 Interactive online shopping 8 4.3 Win market from making a difference 9
5. Conclusion 10
6. Recommendations 10
7. References 11

Executive summary
With the advent of 21 century, the Lotte Group has grown into first-rate competitive business entity. It successfully operated in food, retail, tourism, construction and heavy chemical sectors. Based on its solid financial structure, innovative products development, brand management system and strong investments, Lotte has begun to implement plans for the worldwide business.

This paper has two aims. Firstly, it aims to gain insight into the development process of Lotte. Secondly, it will increase knowledge and understanding of the key elements that contribute to the success of Lotte.

Three main parts will be covered in this paper. They are: the background and development process of Lotte; its unique business traditions and how these business traditions support its development, as well as major strategies help Lotte to gain competitive advantages within the industry. For example, Lotte continually develop new products to meet the different needs of its customers and pay great attention to the quality of the products.

Strategic issues will also be discussed at the end of this paper and a number of recommendations have been provided for addressing the issues of Lotte.

1. Introduction
Lotte is one of the largest enterprises in South Korea which has achieved great success in wide

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