• Journal of Information Technology Applications and Management
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• v.19 no.2
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• pp.249-263
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• 2012

Recently the open innovation is considered as one of the important issues for the survival strategy of a company in the industry. There have been several researches and practices on this topic. However, previous researches are mainly focused on the study of successful cases and some statistical analyses on the relationship between the open innovation and its performance. There are rare researches on the hindrance factors in the practical level. This paper tries to find some hinderance factors for the open innovation in Korean large-scale companies based on the WFGM(Want-Find-Get-Manage) model proposed by Gene Slowinski(2006). Especially this research focused on each processes of open innovation by in-depth interviews for two representative large companies in Korea. From the result of this research we come to know that the critical hindrance factor in the WANT step is the uncertain definition of the necessary technologies for the company. Issues on establishing and maintaining the innovation network are in the FIND step. Technology evaluation, technology introduction channel and technology copying issues are in the GET step. Communication issues, technology feasibility and lack of competition are in the MANAGE step. This paper finds some hindrance factors in each process step of open innovation, which gives some implications for the companies that want to adopt open innovation.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.13 no.2
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• pp.101-113
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• 2018

This paper investigates the relationship between external search strategy and radical innovation performance. As the discrepancies that can exist among the varying sources of external knowledge is overlooked, the existing literature on the effect of external search strategy on radical innovation performance remains inconclusive. This study aims to reconcile such mixed findings by recognizing that external knowledge can be distinctive depending on the environment in which its source is embedded in; specifically, this paper examines the relationship between external search strategy and radical innovation performance by distinguishing external search from 'market' and 'non-market' relationships. We test our hypotheses with a sample of 431 firms from the manufacturing industries from the 2010 STEPI survey. Our empirical findings suggest that external search strategy from market relationships positively influences radical innovation performance, while the influence of external search strategy from non-market relationships is found to be not significant. Our research suggests that in order to improve radical innovation performance, firms must be able to maintain a cooperative relationship with other actors connected with market relationships and to effectively exploit the market knowledge obtained from these actors.

• The Journal of Asian Finance, Economics and Business
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• v.6 no.2
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• pp.173-181
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• 2019

The paper aims to evaluate the combination of strategies that influence the success of New Technology Based Firms (NTBFs) located in isolated areas with resource constraints. We utilize the Kauffman Firm Survey to construct a subset of 224 firms operating in primary metal manufacturing industries and who are located in non-thriving areas. We focus on the impact of technological strategy, in the form of Inward Technology Licensing (ITL), combined with financial strategy, in the form of increased financial slack. Using a negative binomial-specification technique to model these relations, we find that ITL positively impacts internal innovation in the firm and this relation is strengthened by the presence of greater financial slack. This positive impact of financial slack supports the behavioral theory of the firm rather than agency theory in that financial slack enables further innovation rather than stifling it. This research confirms the importance of resource acquisition, suggesting that entrepreneurs may utilize external sources of knowledge in an effort to build a favorable situation when facing the challenges of location. Finally, by presenting evidence showing the compatibility of a financial strategy with a knowledge strategy (ITL), this study emphasizes the importance to entrepreneurs of choosing the proper combination of varying strategies.

• Journal of Distribution Science
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• v.11 no.10
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• pp.27-36
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• 2013

Purpose - This paper empirically studies the effects of advanced design innovation strategy on business performance, to investigate manufacturing industries that can develop design-driven-innovation strategies. Many researchers now recognize the importance of design in a CEO's decision-making process. To analyze these effects, this study deduces the definition of advanced design strategy by reviewing existing studies. The advanced design is a strategy that is applied to improve business performance instead of the appearance of a product for increasing its sales. In terms of business processes, the advanced design strategy is defined as the incorporation of business activities prior to the development of the product, to offer new experiences and values to users, from those designs. Research design/data/methodology - This paper establishes a model for empirical analysis. In this study, we derived factors of the characteristics of advanced design based on previous studies. We tried to investigate whether advanced design innovation strategy and entrepreneur's characteristics could have any impact on business performance. At the same time, we tried to find out the moderating effect of entrepreneurs' characteristics. The advanced design is made up of three elements: precedence, integration, and immersion of design activities. These three elements are independent variables for the model. The dependent variables are: increased rate of sales, R & D performance, and public image of the company. Specifically, this study establishes a CEO's characteristics as a moderating variable between the independent and dependent variables. Results - We proved that the level of entrepreneurs' characteristics has a moderating effect on the business performance. The findings of this study offer the following theoretical implications. The precedence of design activities positively affects the increased rate of sales by offering new experiences to users and creating new values. The integration of design activities also has a positive effect on the R&D performance. In addition, the immersion of design activities positively influences all the elements comprising business performance. The analysis of moderating variables elucidates that CEO's characteristics have a moderating role between precedence, integration, and immersion of design activities, and business performance. Conclusions - The practical implications of the study are as follows. This study contributes to the progression of advance design theories by conducting an empirical study on the advanced design concept. More importantly, the empirical study on the CEO group seeking exploratory innovation supports Verganti's "design-driven innovation" concept, according to which design can make innovation successful by offering useful values to users, as evident in the case of many innovative companies, such as Nintendo and Apple. Future studies need to investigate the reliability of practical examples, including the various activities of business. We suppose that there may be real differences between the results of this study and the applicative situation in the presence of a CEO group.

• Journal of Information Technology Applications and Management
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• v.20 no.2
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• pp.39-56
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• 2013

There have been many studies that open innovation activities have positive effects on firm performance. However, the previous studies have shown conflicting results, depending on the characteristics of companies or the timing of the product launch. This study empirically compares open innovation performance of first-mover companies and follower companies. The analyses are performed on the samples of the Korean Innovation Survey 2010 companies that explored external information and performed R&D cooperation. The results indicate that open innovation activities can have different effects depending on a company's status in the market. For the first-mover companies, the intensity of utilizing external information has greater impact on the firm's performance than the diversity of it. By contrast, for the follower companies, the diversity of utilizing external information has greater impact on the firm's performance than the intensity of it. In terms of R&D cooperation, the external cooperation is found not to have significant effects on a first-mover company's performance. However, external R&D cooperation of a follower company is showing positive impact on the firm's performance. The implication of the study is to analyze the firm's Open-Innovation performance by comparing first-mover companies with follower companies. Therefore, companies need to execute the Open-Innovation strategy by considering firm characteristics or the timing of the product launch.

• Journal of Technology Innovation
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• v.6 no.1
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• pp.128-162
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• 1998

A continuous development of new products is the lifeblood for firms that hope to maintain competency in competitive environments. Ongoing success in these environments is dependent on whether the management can choose or can't chose the proper mix of new product development strategy, new product development process, and organizational structure. Rather than considering the interrelationship among these success factors, however, most previous studies of new products development have examined these issues individually. Moreover, because past research has been unidimensional in nature, there is a lack of knowledge about how new product development strategy, process, and structure could be linked up each other. Consequently, we have no complete perspective of the linkage among new product development strategy, process, structure, and performance. The purpose of this study is to examine the new product development strategy, process, and structure of firms, and explore the effect of each on performance as well as linkage among strategy, process, strategy and structure.

• Journal of Korean Institute of Industrial Engineers
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• v.41 no.6
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• pp.559-571
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• 2015

To strengthen competences, most of firms have co-operated with external partners. This increases the possibility of unexpected conflicts between firms due to the intellectual property litigation. A suitable intellectual property strategy for firms has to be developed to settle this issue. This study aims to analyze an utilization of intellectual property strategy in firms, and tries to suggest a concept of IP roadmap to support intellectual property strategy planning aligned with technology planning process. For the purposes, we derive five types of intellectual property strategy of firms using Korea Innovation Survey. Then, we explore significant affecting factors using a decision-tree and conduct in-depth analysis for them. Lastly, we suggest a concept of IP roadmap, which can be a supporting tool for developing intellectual property strategy in firms, based on analysis results.

• World Technopolis Review
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• v.5 no.1
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• pp.2-18
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• 2016

The development of Technopolis and the establishment of innovative ecosystem have made an important contribution in South Korea's latest industrial development and economic growth. Particularly, Daedeok INNOPOLIS which is responsible for the central role in the national science technology advancement was founded as the Science Town in the 1970s. Since then, it has undergone three-phases of development: Science Park, Technopolis and Innovation cluster. As the result of the transition, Daedeok INNOPOLIS currently serve as the leading role for achieving sustainable economic growth, employment promotion, national and regional innovation. In order to accelerate the progress for success, Daedeok INNOPOLIS have arranged an opportunity for 21st century new industry development, improved growth of technology-intensive SMEs, reinforced academic-industrial cooperation, and established innovative ecosystem. Daedeok INNOPOLIS is considered as an outstanding case of endogenous development strategy of Technopolis. This study attempts to consider the endogenous development strategy of Technopolis in Korea through the analysis of development characteristics of Daedeok INNOPOLIS in two different perspectives: changes of spatial structure and establishment of innovation ecosystem. Daedeok INNOPOLIS have experienced a series of endogenous growth that is consisted of advancement strategy and structural changes, which allowed Daedeok research town to grow into an innovative cluster. A sign of growth of Daedeok INNOPOLIS became apparent when its strategy to reinforce the academic-industry cooperation system by promoting participation from universities helped to overcome a functional limitation as a research institute integrated for the establishment of innovative ecosystem. Since then, the center for creative economy and innovation established in cooperation with large enterprise, has a role to build a startup ecosystem and to promote next level of development such as proactive fostering of venture companies for sustainable technopolis development.

• Fourth Industrial Review
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• v.1 no.1
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• pp.1-10
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• 2021

Purpose - This case study analyzes the internationalization strategy and innovation strategy as key factors contributing to the business success of CAP, a small and medium-sized manufacturing company in Korea producing auto parts such as wipers. This study describes the diversification strategies conducted by CAP Corporation and highlights the company's core competencies that have largely contributed to their global competitive success. Research design, data, and methodology - This paper provides in-depth case study on how CAP was able to grow into a hidden champion company, focusing on their strategies since its establishment. In particular, by analyzing the success factors centering on CAP's aggressive innovation strategy and internationalization strategy, it presents guidelines for small and medium-sized enterprises in Asian countries to become a Hidden Champion company. Result - CAP's product technology has successfully established innovative system on their product called 'vertebra spring' to distribute uniform pressure to the rubber to ensure performance as well as durability of their products. In order to continue benefiting from utilizing core competence and to continue pursuing technological advancement in the wiper industry, CAP has launched a wide range of products (flat blade, conventional blade, hybrid blade) applicable to 95% of the vehicle in the market. Conclusion - Taken together, CAP has many aspects of a hidden champion company by investing in R&D up to 8% of its annual sales to R&D investment even during the crises situation. This number is about 3.36 times higher than the average ratio of listed companies in Korea. Furthermore, the leadership of the management team as well as their vision toward the global market and strong commitment to innovation enabled CAP to become the world's fifth-largest wiper and Asia's No. 1 wiper manufacturer.

• Asian Journal of Innovation and Policy
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• v.5 no.3
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• pp.293-314
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• 2016

Patent information as a proxy measure of technological capability has been utilized to establish technological strategies of firms. It is important to monitor what competitors' plans for direction on research and development in the initial stage of new industry. Cancer metabolism has been considered as a beacon of hope for cancer research because it is anticipated that the research field will play a central role in developing effective cancer therapies. There is little attention given to understanding the status quo of organizational configurations. By utilizing network analysis, six sub-groups of cancer metabolism were categorized and the relationship between an individual field and participants were analyzed based on cluster and entire network-level. Although the largest drug and biotech companies tried to take an initiative across the whole fields, the differences in technological capabilities between them was discovered. This paper attempts to improve the validity of the suggested procedure and is significant in that it looks at the entire structure of cancer metabolism research from a strategic perspective for the first time.