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Korean Enterprise: Imitation to Innovation

Korean Enterprise: Imitation to Innovation. SCHOOL OF BUSINESS ADMIN KNU RIEBA INNOVATION CENTER gwmoon@knu.ac.kr MOON, GYEWAN. Critical Variables for Successful Enterprises Reliability Economies of Scale Quality & Design. Number 1 items in the world

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Korean Enterprise: Imitation to Innovation

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  1. Korean Enterprise:Imitation to Innovation SCHOOL OF BUSINESS ADMIN KNU RIEBA INNOVATION CENTER gwmoon@knu.ac.kr MOON, GYEWAN

  2. Critical Variables for Successful Enterprises Reliability Economies of Scale Quality & Design Number 1 items in the world SAMSUNG ELECTRONICS (SEMICONDUCTOR – D-ram)-21% LG-DiSPLAY, SAMSUNG ELECTRONICS TFT-LCD)-46.5% HUMAX(SETOP -BOX)-11% SAMSUNG SDI, LG ELECTRONICS(PDP)-54% HYUNDAI HEAVY INDUSTRY,SAMSUNG HEAVY INDUSTRY(CARGO SHIP)-63% SAMSUNG ELECTRONICS,LG ELECTRONICS(AIR CONDITIONER)-22.3% Korean Economy

  3. CURRENT STATUS OF KOREAN CORPORATION Emergent Action Rational Action Constrained Action 2 Conservation 6 Entrepreneurial action 5 Visionary leadership IMF CoP 3 Crisis (Innovative Culture) 7 Choice 1 Winning Strategy Core Comp. 8 Creative network 4 Confusion Restructuring (Data : Hurst (1995), Crisis & Renewal revised

  4. Korean Company Growth MODEL Govt. & Industrial Policy Direction Setting Hardworking Korean/ Korean Culture Business Growth Key agents (Chaebol) Technological Learning Tools

  5. Industrial Policy • Direction Setting : Centralized Planning & Effective Govt. Intervention • Selection of Strategic Industries : Heavy & Chemical Industry (1970’s), Electronic Industry (1980’s) • Special Industry Promotion Act :1969 • Establishing Industrial Complex : Gumi Industrial Complex – Gumi Innovation Cluster • Financing : German Loans – Divided countries, Compensation money from Japanese Occupation (600 million $), Vietnam War • Provision of Human Resources : Scholars studied in the States, Japan, & Europe

  6. Hardworking Korean & Korean Culture • Neo-Confucianism 1) Education emphasized, 2) The clan in social & economic relations 3) Harmonious interpersonal relations 4) The pursuit of the highest good 5) Discipline • Hardworking Koreans 1) the national trait of tenacity 2) “han” psyche = resentment 3) conditioning during school days 4) physical environment 5) “beat Japan” spirit 6) experience of deprivation

  7. TRANSFORMING KOREAN Knowledge-based Economy Confucian Culture Protestant work ethic Smart Korean (00’s) Hard-working Korean (90’s) Entrepreneurship Global Competition Personal drive for achievement

  8. Technological Learning

  9. Technological Learning High Reverse engineering Intensity of Efforts Low Low High Existing Knowledge Base A chaebol is a business group consisting of varied corporate enterprises engaged in diversified business areas and typically owned and managed by one or two interrelated family groups.

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