• 산업경영시스템학회지
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• 제39권4호
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• pp.26-39
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• 2016

Korea's main manufacturing industries, which have led its economy for the past three decades, are faced with a serious downturn and loss of competitive advantages due to the current economic depression, China's rise, and the drop of oil prices. Korean business firms must adopt the paradigm shift in their value strategies, along with a government-led industrial restructuring in order to gain sustainable competitive advantages. Business firms allocate their limited resources between value creation and value appropriation, however, what effect does strategic emphasis on value creation versus value appropriation have on a business firm's financial performance? This paper empirically addresses this issue by examining the effect of shifts in strategic emphasis on stock return. Furthermore, this study examines appropriate choices of strategic emphasis to gain differential financial performance. The data set used in this regression analysis comes from the KISLINE database of NICE Information Service. The variables that form the basis of this analysis are stock return, ROA, and Strategic Emphasis [(advertising expenditures-R&D expenditures)/assets]. The interactive effect with situational factors regarding the firm and the type of technological environment in which the firm is operating was also analyzed. Our results show that investors acknowledge a shift of strategic emphasis as a sign of stock valuation. In comparison to US, Korean business firms have weak value creation capabilities in high-technology industries, and weak value appropriation capabilities in low-technology industries. This proves Korean firms are fast followers in the global market. Our findings suggest that Korean firms have to adopt a balanced value strategy, nurturing value creation and developing value appropriation for overcoming the current economic downturn and becoming a first mover in the dawn of "Industry 4.0."

• 품질경영학회지
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• 제38권1호
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• pp.10-19
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• 2010

The competitive strategies of the Korean manufacturing companies have changed from the "cost leadership" strategy in the early developing stage since 1960's to the "stuck in the middle" position since 1990's in the face of emerging new cost leaders as the Chinese companies. The data on the strategic contents of the Korean manufacturing companies show that their strategies are seeking the value innovation through not only quality improvement but also cost reduction altogether rather than selecting one on the trade-off relation between the both competitive dimensions. Their strategic actions seem to be seeking the operational efficiencies through all the value chain activities rather than the strategic effectiveness by selecting and focusing on the specific competitive dimension, which is considered as a typical strategic approach. Their strategy seems to be non-strategic in the general sense. But their non-strategically looking behaviors can be reasonable enough for their sandwiched competitive position between the global quality leaders and following cost leaders. This paper explains why their strategies can be right through the theoretical explanations by using the quality-price elasticity approaches for the consumer behaviors. We can call their strategic activities as the value innovation strategy.

• 디자인학연구
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• 제19권5호
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• pp.191-202
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• 2006

최근 기업을 둘러싼 시장 환경의 급격한 변화와 소비자의 구매 가치와 기호의 다양화가 급격히 진전되면서 기업의 생존을 위해 장기적인 경쟁 우위 창출을 위해 그 기업만의 차별적 가치를 제공하는 것이 그 무엇보다 중요한 시대가 도래하였다. 기업의 차별적인 가치를 창출하기 위해서는 무엇보다도 소비자의 잠재 니즈와 가치에 대한 심층적인 연구, 분석이 필요하며 따라서 소비자의 잠재 니즈와 가치를 만족시켜 줄 수 있는 부가가치를 제공하여 주는 신제품의 개발은 기업의 지속적인 경쟁 우위 창출에 있어 매우 중요한 전략적 행동이라 할 수 있다. 이 논문에서는 이러한 신제품 개발 전략에 있어 디자인이 가질 수 있는 전략적 위치와 역할에 대해 연구해 보고자 한다. 소비자는 제품의 아름답고 매력적인 디자인을 통해 기업이 제공하고자 하는 부가가치를 받아들이며 이를 통해 자신의 감성적, 주관적 가치를 만족시킨다. 하지만 본 연구에서는 디자인의 물리적인 실체로서의 제품 가치 제공자 역할에서의 관점에서 벗어나 기업의 차별화 요소로서 적용될 수 있는 소비자의 잠재 니즈와 가치 발견을 위한 도구로서의 디자인의 역할을 제안한다. 즉 소비자 니즈와 가치를 찾아내어 차별적인 가치를 제공하는 역할이라는 디자인의 역할에 대한 관점을 중심으로 이를 신제품 개발 전략에 있어 어떻게 적용시켜야 하는 가에 대한 연구를 논문의 중심으로 삼아 기업 경영 전략의 핵심인 차별적인 포지셔닝 창출의 전략적 요소로서의 디자인 영역의 역할을 제안한다. 본 연구는 디자인 전략의 맥락적 접근의 제시와 함께 이의 수립과 실행을 위한 전략적 디자인 분석에 대해 연구함으로써 경영 전략에 있어 기업의 차별적 위치 창출을 위한 가치 제공자로서 디자인의 범위를 확장하여 기업으로 하여금 디자인 경영의 구체적 실행 방안의 한 축을 제시했다는데 그 의의가 있다고 하겠다.

• 산경연구논집
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• 제10권4호
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• pp.33-41
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• 2019

Purpose - This study investigates the effect of strategic orientation on market performance with emphasis on the mediative role of innovation capability, economic value and relational value in food producer companies. Research design, data, and methodology - In this descriptive study, a population of 244 managers and employees of Food industry companies in Tehran were investigated. The respondents filled a questionnaire on strategic orientation, innovation capability, economic value, relational value and market performance, during January to August 2018. Reliability and validity were evaluated by Cronbach's alpha coefficient and confirmatory factor analysis. To analyze the data, Spearman's correlation coefficient and structural equation modeling were used by SmartPLS software. Results - Effects of competitor's orientation and technology orientation on all three intermediary variables were positive and significant. The effect of customer orientation on innovation and economic value was positive and significant, but the effect of customer orientation on the value of the relationship was insignificant. Furthermore, entrepreneurial orientation has a positive and significant effect on innovation capability. The effects of three mediator variables on market performance are positive and significant. Conclusions - As the relationship between the mediator variables and market performance were positive and significant, companies should have a comprehensive plan of focus on strengthening these variables.

• 한국의류학회지
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• 제36권10호
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• pp.1058-1073
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• 2012

This study examines the effects of collaboration type and brand sensitivity on consumer responses toward fashion collaboration brands. For this study, six brands of fashion collaboration were selected by collaboration types: collaboration with same industry (Uniqlo-Jill Sander, H&M-Sonia Rykiel, and Levis-Jean Paul Gaultier) and collaboration with different industries (LG-Prada, Samsung-Armani, and LG-Levis). A selfadministered questionnaire was developed based on the literature that mainly included brand sensitivity, consumer response (brand association, brand values, and purchase intention), and marketing strategic elements in the context of fashion collaboration. For collecting the data, respondents were asked to choose and assess a previously purchased brand. A total of 299 usable data responses were obtained from Korean consumers aged from 15 to 40 years old. The consumer response toward the fashion collaboration brand consisted of four factors: Emotional value, perceived quality, symbolic value, and brand association. The results showed that the collaboration type had the main effect on emotional value, symbolic value, and purchase intention. Brand sensitivity had the main effect on brand association, emotional value, symbolic value, and purchase intention. There was also an interaction effect on emotional value. With respect to strategic marketing elements, product differentiation, premium pricing, and value pricing had partially positive effect on consumer responses; however, promotion had a negative effect on consumer responses (e.g., perceived quality, and emotional value). In addition, collaboration type or brand sensitivity moderated the effect of strategic marketing elements on consumer responses. This study discussed a managerial implication to develop a strategic brand alliance to manage brand equity in the fashion marketplace.

• 한국융합학회논문지
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• 제13권4호
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• pp.397-407
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• 2022

본 연구는 산업 내에서 모방적인 경영전략을 표방하지 않고 차별화된 전략을 수행하는 기업의 미래 성과 혹은 기업가치의 관련성을 검증하고자 한다. 경영전략은 기업의 발전과 성장 가능성에 중요한 역할을 하며 미래 성과와 기업가치를 결정짓는 요인이기도 하다. 이러한 경영전략은 산업에 따라 차이가 존재하며 동일 업종에서 이질적인 전략은 기업의 미래 성과와 가치에 영향을 줄 수 있다. 본 연구에서는 국내 기업을 대상으로 전략적 일탈 기업들의 미래 성과와 기업가치의 관계를 검증하기 위하여 2011년부터 2019년까지 상장법인을 대상으로 분석을 실시하였다. 검증결과 전략적 일탈은 기업가치에 양(+)의 영향을 미치는 것으로 나타났지만 미래 성과는 음(-)의 영향을 미치며 성과의 지속성에도 영향을 미치는 것으로 나타났다. 이러한 결과들은 전략을 구분하여 전략에 따른 특성이 기업가치, 미래성과 등에 대한 연구를 확대하여 전략적 일탈이 기업가치 혹은 미래성과, 성과의 지속성에 미치는 영향을 검증한 것에 의미가 있는 것으로 보인다.

• Journal of Korea Trade
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• 제23권6호
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• pp.145-158
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• 2019

Purpose - Alliance members have constantly revised market strategies over time by withdrawing membership from a current alliance, joining another alliance, or constructing a new alliance. From the perspective of the signaling effect, the purpose of this study is to analyze the impacts of partner volatility (new member, old member, and new group) on firm value. Design/methodology - To analyze the impact of partner volatility on firm value, companies in strategic alliances are classified into the three groups of new partner, existing partner, and new alliance, and the effects on company value are verified through an event study and the signaling effect analysis. Findings - This study proved that new partners and newly formed strategic alliances have higher expectation effects than old partner company groups, and have a more positive effect on the relevant firms' stock prices. In addition, the result of the study showed the same valid results as the alliance levels, and showed that investors' expectations were higher with new partners and new alliances than with old partners. Research Implications - A new perspective on the signaling effects of strategic alliances among shipping lines was presented in this study by grouping alliance types including new member, old member, and new group. The results provide useful insights for selecting partners and firm values of alliance announcement times. Originality/value - This study analyzed partner volatility on relevant companies' stock prices from the perspective of investors from the global shipping conference reorganization in 2017. Strategic alliances were classified into the three categories of new partner, old partner, and new alliance, and the effects on firm value were verified.

• 대한산업공학회지
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• 제29권2호
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• pp.126-134
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• 2003

Among a variety of models proposed by so far to calculate the real options value when the investment decision about the underlying project may be delayed, the Black-Scholes and the binomial lattice models have been widely used and discussed by academics and practitioners. However these two models do not provide us with intuition into how it is constructed and what it does really mean. In this paper, we will therefore explore its components and practically more intuitive meaning. With the components explored, we developed the mathematical model to calculate the real options value and thus strategic net present value, based on the opportunity cost concept, for which the investment decision about the underlying project is postponed by one year. We will finally present a short illustrative example for readers better understanding on the model proposed in the paper.

• 통상정보연구
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• 제9권4호
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• pp.3-19
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• 2007

The purpose of this paper is to study the pattern of interactive learning in strategic networks. Interactive learning is defined as the exchange and sharing of knowledge resources conducive to innovation between an innovator firm, its suppliers, and/or its customers. The strength of internal knowledge resources can either hamper or facilitate levels of interactive learning. We assume that more complex innovative activities urge firms to co-ordinate and exchange information between users and producers, which implies a higher level of interactive learning. To test our theoretical claims, we estimated the level of interactive learning of firms in strategic networks with: (1) their customers, (2) their suppliers. Theses analyses allow a comparison of the antecedents of interactive learning of firms participating in strategic networks. Our findings suggest that interactive learning with customers is positively affected by company's capabilities and value-created activities, and with supplies is positively affected by value-created activities and technology innovation centers.

• 경영과정보연구
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• 제15권
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• pp.223-244
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• 2004

E-business is one of business innovations to get competitive advantage over other competing companies by utilizing information technology which can make to enhance the efficiencies and effectiveness through connecting one or several value activities. E-transformation is the process of business innovation to trans brick and motor companies to brick and click companies to accomodate e-business environments by means of digitalizing business strategy, business system, business process, and company cultures. In this results, the company can develop entirely new value chain of business and render enhanced services to customers. In this paper, I will represent several e-transformation evaluation models which are used to realize e-transformation(trans from brick and motor companies to brick and click companies). Also, I propose the strategic thrust model, which is composed of strategic targets (customer, suppliers, partners) and strategic tools(technology innovation, integration). This model is differentiated with evaluation models in that it can capture the rapidly changing business environments, especially strategic targets(customers, suppliers, partners).