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Journal of International Entrepreneurship

Erschienen in:

22.06.2018

A study on development strategy of Korean hidden champion firm: Focus on SWOT/AHP technique utilizing the competitiveness index

verfasst von: Sang Suk Lee, Youn Kyaei Chung

Erschienen in: Journal of International Entrepreneurship | Ausgabe 4/2018

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Abstract

The purpose of this study is to offer development strategies for hidden champion firms; it is thought that in order to overcome Korea’s economic crisis and to secure new growth engines for sustained economic development, the country needs to foster more hidden champions that can lead global market. The study draws from an empirical survey of 61 Korean firms on hidden champion promotion list as well as 45 experts; the results were analyzed using SWOT/AHP model and a corporate competitiveness index to develop development strategies for Korean hidden champions. The results suggest that Korean hidden champions should seek opportunities for industrial growth based on technological strength, create competitive advantages in the market, and reduce their dependency on large corporations. Hidden champions should target market niche rather than competing with global firms; this is possible with competitive strengths based on specialist technology that will satisfy customers. Thus, authors argue that small- and medium-sized enterprises in Korea should focus on developing technological competences in order to possess specialist core technology that will support their growth in the global market.

Vorheriger Artikel Entrepreneurship, economic development, and institutional environment: evidence from OECD countries

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Titel: A study on development strategy of Korean hidden champion firm: Focus on SWOT/AHP technique utilizing the competitiveness index
verfasst von: Sang Suk Lee
Youn Kyaei Chung
Publikationsdatum: 22.06.2018
Verlag: Springer US
Erschienen in: Journal of International Entrepreneurship / Ausgabe 4/2018
Print ISSN: 1570-7385
Elektronische ISSN: 1573-7349
DOI: https://doi.org/10.1007/s10843-018-0234-7

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