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A study on development strategy of Korean hidden champion firm: Focus on SWOT/AHP technique utilizing the competitiveness index

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  • Sang Suk Lee

    (Kangnam University)

  • Youn Kyaei Chung

    (Seojeong University)

Abstract

The purpose of this study is to offer development strategies for hidden champion firms; it is thought that in order to overcome Korea’s economic crisis and to secure new growth engines for sustained economic development, the country needs to foster more hidden champions that can lead global market. The study draws from an empirical survey of 61 Korean firms on hidden champion promotion list as well as 45 experts; the results were analyzed using SWOT/AHP model and a corporate competitiveness index to develop development strategies for Korean hidden champions. The results suggest that Korean hidden champions should seek opportunities for industrial growth based on technological strength, create competitive advantages in the market, and reduce their dependency on large corporations. Hidden champions should target market niche rather than competing with global firms; this is possible with competitive strengths based on specialist technology that will satisfy customers. Thus, authors argue that small- and medium-sized enterprises in Korea should focus on developing technological competences in order to possess specialist core technology that will support their growth in the global market.

Suggested Citation

  • Sang Suk Lee & Youn Kyaei Chung, 2018. "A study on development strategy of Korean hidden champion firm: Focus on SWOT/AHP technique utilizing the competitiveness index," Journal of International Entrepreneurship, Springer, vol. 16(4), pages 547-575, December.
    • Handle: RePEc:kap:jinten:v:16:y:2018:i:4:d:10.1007_s10843-018-0234-7
    DOI: 10.1007/s10843-018-0234-7
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    Cited by:

    1. Schenkenhofer, Julian, 2020. "Hidden champions: A review of the literature & future research avenues," UO Working Papers 06-20, University of Augsburg, Chair of Management and Organization.
    2. Julian Schenkenhofer, 2022. "Hidden champions: a review of the literature & future research avenues," Management Review Quarterly, Springer, vol. 72(2), pages 417-482, June.

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