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The Effects of Business Strategy and Organizational Culture of Korean Companies on Market Satisfaction: The Case of the African Market

Author

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  • Woohyuk Kim

    (Department of Consumer Science, Incheon National University, Incheon 22012, Korea)

  • Miae Lee

    (Institute for Euro-African Studies, Hanyang University, Seoul 04763, Korea)

  • Chunghee Lee

    (Institute for Euro-African Studies, Hanyang University, Seoul 04763, Korea)

  • Sungsoo Kim

    (Department of Political Science and International Studies, Hanyang University, Seoul 04763, Korea)

Abstract

The purpose of our study was to investigate the relationship between business strategy, organizational culture, and market satisfaction. This study focused on Korean companies entering Africa and companies wishing to enter Africa and analyzed the satisfaction of companies with the African market focusing on internal environmental conditions. In terms of data, we collected 183 usable samples from companies. In order to analyze the data, we used structural equation modeling using AMOS 25.0. Based on the results, first, we can see that there is a positive relationship between business strategy and organizational culture. Moreover, there is also a positive relationship between business strategy and market satisfaction. Lastly, we found a positive relationship between organizational culture and market satisfaction. These study results give the following implications in establishing investment strategies for Korean companies entering Africa or willing to enter, which are in the midst of macroscopic environmental changes.

Suggested Citation

  • Woohyuk Kim & Miae Lee & Chunghee Lee & Sungsoo Kim, 2022. "The Effects of Business Strategy and Organizational Culture of Korean Companies on Market Satisfaction: The Case of the African Market," Sustainability, MDPI, vol. 14(11), pages 1-10, May.
    • Handle: RePEc:gam:jsusta:v:14:y:2022:i:11:p:6747-:d:829032
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    References listed on IDEAS

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    1. Peter J. Buckley, 1992. "Studies in International Business," Palgrave Macmillan Books, Palgrave Macmillan, number 978-1-349-12174-8.
    2. George A. Marcoulides & Ronald H. Heck, 1993. "Organizational Culture and Performance: Proposing and Testing a Model," Organization Science, INFORMS, vol. 4(2), pages 209-225, May.
    3. Woo-Hyuk Kim & Chunghee Lee & Sungsoo Kim, 2020. "The Influence of Hallyu on Africans’ Perceptions of Korea: The Moderating Role of Service Quality," Sustainability, MDPI, vol. 12(8), pages 1-10, April.
    4. Park , Young Ho & Jeon , Hyelin & Kim , Sung-nam & Kim , Minhee, 2011. "세계 주요국의 아프리카 진출전략 및 시사점 (Strategies of Major Nations for Economic Cooperation with Africa and Their Implications)," Policy Analyses 11-23, Korea Institute for International Economic Policy.
    5. Peter J. Buckley, 1992. "Organisational Forms and Multinational Companies," Palgrave Macmillan Books, in: Studies in International Business, chapter 4, pages 61-82, Palgrave Macmillan.
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    Cited by:

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