Samsung Electronics on Thursday celebrated its 43rd anniversary with its chief asking its employees to work toward transforming the firm into a global top 5 brand.

“With the global economy continuously expected to see low growth, the electronics industry has met huge changes which we have never experience in the past,” said the company’s chief executive Kwon Oh-hyun. “If we stay satisfied with our current results and don’t gain future competitiveness, we will collapse before we even realize it.”

In what he called “Vision 2020,” Kwon said Samsung must become a global top 5 brand, which is aspired to by others.

He also said the firm must concentrate on improving the competitiveness of software and future growth engines, becoming a market creator that projects new values.

The third factor emphasized by Kwon was establishing a creative organizational culture and nurturing talented employees to work on their own initiative.

By Cho Ji-hyun (sharon@heraldcorp.com)