Samsung wants to become the world’s biggest acorn upstart

Big acornSamsung has announced plans to adopt a corporate culture akin to a startup saying it wants to be more flexible as growth slows.

Samsung’s executives will sign a pledge to move away from a “top-down” culture and towards a working environment that fosters open dialogue.

The outfit will reduce the number of levels in its staff hierarchy and hold more frequent online discussions between business division heads and employees.

“We aim to reform our internal culture, execute as quickly as a startup company and push towards open communication and continuously innovate,” it said in a statement.

Samsung has been hit by a rapid decline in smartphone profits and the absence of new businesses to drive growth. It has been under pressure to reform its military-style working culture to foster innovation.

It might be a little difficult for the company to change. The system has become pretty entrenched and was helpful while the company was on top. Some analysts warn say there is the risk of Samsung losing its edge as a fast-execution hardware company by attempting to change its ways.

Samsung said it will also cut down on unnecessary internal meetings and simplify reporting procedures in order to improve productivity and offer training to employees to strengthen their “winning spirit”.