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http://dx.doi.org/10.9723/jksiis.2020.25.1.071

The Success Factors of Domestic Start-up Companies: Case of Woowa Brothers  

Hwang, SeHee (인천대학교 경영학과)
Kim, Kyungmi (인천대학교 경영학과)
Park, Hyunjun (인천대학교 경영학과)
Publication Information
Journal of Korea Society of Industrial Information Systems / v.25, no.1, 2020 , pp. 71-87 More about this Journal
Abstract
As startup companies are recognized as the important source of job creation and economic growth, the study is trying to find out the current situation of startup companies and their success factors in South Korea. The study analyzes the success factor of Woowa Brothers recognized as a unicorn start-up company in 2018 by using ERIS model and Start-up Developmental Stages. The ERIS model emphasizes Entrepreneurs, Resources, Industry Environment and Strategy for company performance and three developmental stages are divided into initiation, commercial and growth stages. The results indicate that the Woowa Brothers' success factor was to catch the appropriate timing in ERIS and to combine unique methods by differentiating itself from existing competitors at each stage. With analyses of success factor of Woowa Brothers as a case model, the study reveals limitations and recommends the direction of future research for producing more unicorn companies in South Korea.
Keywords
Start-up; Success factors; ERIS; Unicorn; Developmental stages; Woowa Brothers;
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Times Cited By KSCI : 7  (Citation Analysis)
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