IDEAS home Printed from https://ideas.repec.org/a/pal/abaman/v19y2020i2d10.1057_s41291-019-00062-6.html
   My bibliography  Save this article

Does Korean-style management have a future?

Author

Listed:
  • Martin Hemmert

    (Korea University)

Abstract

Regardless of the global emergence and strong performance of many Korean firms, Korean-style management has received limited research attention. Combining original Korean with Japanese and American practices, Korean companies have adopted a wide range of distinct managerial routines in strategic planning, strategy implementation, corporate leadership, and human resource management. An evaluation of these practices by global management research reveals that they are broadly effective for enhancing companies’ performance, both individually and as an overall system, suggesting that Korean-style management deserves more attention. More research is needed on how these managerial practices can be effectively adopted in other countries.

Suggested Citation

  • Martin Hemmert, 2020. "Does Korean-style management have a future?," Asian Business & Management, Palgrave Macmillan, vol. 19(2), pages 147-170, April.
    • Handle: RePEc:pal:abaman:v:19:y:2020:i:2:d:10.1057_s41291-019-00062-6
    DOI: 10.1057/s41291-019-00062-6
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1057/s41291-019-00062-6
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.
    File URL: https://libkey.io/10.1057/s41291-019-00062-6?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Johngseok Bae & Chris Rowley, 2003. "Changes and continuities in South Korean HRM," Asia Pacific Business Review, Taylor & Francis Journals, vol. 9(4), pages 76-105.
    2. Keld Laursen & Nicolai J. Foss, 2003. "New human resource management practices, complementarities and the impact on innovation performance," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 27(2), pages 243-263, March.
    3. Jang-Sup SHIN & Sung-Won JANG, 2005. "Creating First-Mover Advantages : The Case of Samsung Electronics," Development Economics Working Papers 22575, East Asian Bureau of Economic Research.
    4. Ron Sanchez, 1995. "Strategic flexibility in product competition," Strategic Management Journal, Wiley Blackwell, vol. 16(S1), pages 135-159.
    5. Rajiv Nag & Donald C. Hambrick & Ming‐Jer Chen, 2007. "What is strategic management, really? Inductive derivation of a consensus definition of the field," Strategic Management Journal, Wiley Blackwell, vol. 28(9), pages 935-955, September.
    6. Kathleen M. Eisenhardt & Nathan R. Furr & Christopher B. Bingham, 2010. "CROSSROADS---Microfoundations of Performance: Balancing Efficiency and Flexibility in Dynamic Environments," Organization Science, INFORMS, vol. 21(6), pages 1263-1273, December.
    7. Tarun Khanna & Krishna Palepu, 2000. "Is Group Affiliation Profitable in Emerging Markets? An Analysis of Diversified Indian Business Groups," Journal of Finance, American Finance Association, vol. 55(2), pages 867-891, April.
    8. Masahiko Aoki, 2013. "Toward an Economic Model of the Japanese Firm," Chapters, in: Comparative Institutional Analysis, chapter 18, pages 315-341, Edward Elgar Publishing.
    9. J. Robert Baum & Stefan Wally, 2003. "Strategic decision speed and firm performance," Strategic Management Journal, Wiley Blackwell, vol. 24(11), pages 1107-1129, November.
    10. Anil K. Gupta & Vijay Govindarajan, 2000. "Knowledge flows within multinational corporations," Strategic Management Journal, Wiley Blackwell, vol. 21(4), pages 473-496, April.
    11. Moon, Hwy-Chang, 2016. "The Strategy for Korea's Economic Success," OUP Catalogue, Oxford University Press, number 9780190228798.
    12. Wagner, Hardy, 2004. "Internationalization speed and cost efficiency: evidence from Germany," International Business Review, Elsevier, vol. 13(4), pages 447-463, August.
    13. Lee, Keonbeom & Peng, Mike W. & Lee, Keun, 2008. "From diversification premium to diversification discount during institutional transitions," Journal of World Business, Elsevier, vol. 43(1), pages 47-65, January.
    14. Lee,Keun, 2013. "Schumpeterian Analysis of Economic Catch-up," Cambridge Books, Cambridge University Press, number 9781107042681, October.
    15. Jang-Sup SHIN & Sung-Won JANG, 2005. "Creating First-Mover Advantages: The Case of Samsung Electronics," SCAPE Policy Research Working Paper Series 0513, National University of Singapore, Department of Economics, SCAPE.
    16. Chang,Sea-Jin, 2003. "Financial Crisis and Transformation of Korean Business Groups," Cambridge Books, Cambridge University Press, number 9780521814355, October.
    17. Andreas Bausch & Mario Krist, 2007. "The effect of context-related moderators on the internationalization-performance relationship: Evidence from meta-analysis," Management International Review, Springer, vol. 47(3), pages 319-347, June.
    18. Chetty, Sylvie & Johanson, Martin & Martín Martín, Oscar, 2014. "Speed of internationalization: Conceptualization, measurement and validation," Journal of World Business, Elsevier, vol. 49(4), pages 633-650.
    19. Sucheta Nadkarni & V. K. Narayanan, 2007. "Strategic schemas, strategic flexibility, and firm performance: the moderating role of industry clockspeed," Strategic Management Journal, Wiley Blackwell, vol. 28(3), pages 243-270, March.
    20. Richard P. Rumelt, 1982. "Diversification strategy and profitability," Strategic Management Journal, Wiley Blackwell, vol. 3(4), pages 359-369, October.
    21. Shim, Won Shul & Steers, Richard M., 2012. "Symmetric and asymmetric leadership cultures: A comparative study of leadership and organizational culture at Hyundai and Toyota," Journal of World Business, Elsevier, vol. 47(4), pages 581-591.
    22. Schon Beechler & John Zhuang Yang, 1994. "The Transfer of Japanese-Style Management to American Subsidiaries: Contingencies, and Competencies," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 25(3), pages 467-491, September.
    23. Sea-Jin Chang & Jay Hyuk Rhee, 2011. "Rapid FDI expansion and firm performance," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 42(8), pages 979-994, October.
    24. Linsu Kim, 1998. "Crisis Construction and Organizational Learning: Capability Building in Catching-up at Hyundai Motor," Organization Science, INFORMS, vol. 9(4), pages 506-521, August.
    25. Servaes, Henri, 1996. "The Value of Diversification during the Conglomerate Merger Wave," Journal of Finance, American Finance Association, vol. 51(4), pages 1201-1225, September.
    26. Leslie E. Palich & Laura B. Cardinal & C. Chet Miller, 2000. "Curvilinearity in the diversification–performance linkage: an examination of over three decades of research," Strategic Management Journal, Wiley Blackwell, vol. 21(2), pages 155-174, February.
    27. Martin Hemmert & Keith Jackson, 2016. "Is there an East Asian model of MNC internationalization? A comparative analysis of Japanese and Korean firms," Asia Pacific Business Review, Taylor & Francis Journals, vol. 22(4), pages 567-594, October.
    28. Nightingale, Paul, 2000. "Economies of Scale in Experimentation: Knowledge and Technology in Pharmaceutical R&D," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 9(2), pages 315-359, June.
    29. Andrew C. Inkpen, 2008. "Knowledge transfer and international joint ventures: the case of NUMMI and General Motors," Strategic Management Journal, Wiley Blackwell, vol. 29(4), pages 447-453, April.
    30. Ruihua Joy Jiang & Qingjiu Tom Tao & Michael D. Santoro, 2010. "Alliance portfolio diversity and firm performance," Strategic Management Journal, Wiley Blackwell, vol. 31(10), pages 1136-1144, October.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Fabian Jintae Froese, 2020. "Ready for global success? Strengths and weaknesses of Korean HRM," Asian Business & Management, Palgrave Macmillan, vol. 19(2), pages 179-183, April.
    2. Syed Wajeeh-ul-Husnain & Jie Shen & John Benson, 2022. "HRM practices in South Asia: convergence, divergence, and intra-regional differences," Asian Business & Management, Palgrave Macmillan, vol. 21(5), pages 780-801, November.
    3. Sunwang Kim & Jimin Kwon & Dongil Jung, 2023. "Going beyond the firm perspective: what do employees think of high-performance work systems (HPWS)?," Asian Business & Management, Palgrave Macmillan, vol. 22(5), pages 2106-2134, November.
    4. Martin Hemmert & Adam R. Cross & Ying Cheng & Jae-Jin Kim & Masahiro Kotosaka & Franz Waldenberger & Leven J. Zheng, 2022. "New venture entrepreneurship and context in East Asia: a systematic literature review," Asian Business & Management, Palgrave Macmillan, vol. 21(5), pages 831-865, November.
    5. Chang Hoon Oh, 2020. "The changing terrain of international strategy for Korean multinationals," Asian Business & Management, Palgrave Macmillan, vol. 19(2), pages 171-174, April.
    6. Sung Youl Jun & Tae Wook Ju & Hye Kyung Park & Jacob C. Lee & Tae Min Kim, 2023. "Information distortion in word-of-mouth retransmission: the effects of retransmitter intention and source expertise," Asian Business & Management, Palgrave Macmillan, vol. 22(5), pages 1848-1876, November.
    7. Enrico Fontana & Hyemi Shin & Chikako Oka & Jos Gamble, 2022. "Tensions in the strategic integration of corporate sustainability through global standards: Evidence from Japan and South Korea," Business Strategy and the Environment, Wiley Blackwell, vol. 31(3), pages 875-891, March.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Jain, Naveen Kumar & Pangarkar, Nitin & Yuan, Lin & Kumar, Vikas, 2019. "Rapid internationalization of emerging market firms—The role of geographic diversity and added cultural distance," International Business Review, Elsevier, vol. 28(6), pages 1-1.
    2. Hitt, Michael A. & Li, Dan & Xu, Kai, 2016. "International strategy: From local to global and beyond," Journal of World Business, Elsevier, vol. 51(1), pages 58-73.
    3. Zinnia Mitra Bose & Indrani Chakraborty, 2022. "Effects of diversification on firm performance: an analysis of Indian firms," Indian Economic Review, Springer, vol. 57(2), pages 469-511, December.
    4. Samuel Adomako & Kwabena Frimpong & Joseph Amankwah-Amoah & Francis Donbesuur & Robert A. Opoku, 2021. "Strategic Decision Speed and International Performance: The Roles of Competitive Intensity, Resource Flexibility, and Structural Organicity," Management International Review, Springer, vol. 61(1), pages 27-55, March.
    5. Tzu‐Lin Chang & Hsiao‐Wen Wang & Keng‐Pei Lin & Hsin‐Yu Chen, 2022. "R&D performance and international diversification: Evidence from an emerging market," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 43(7), pages 3176-3197, October.
    6. Xavier, Wlamir Gonçalves & Bandeira-de-Mello, Rodrigo & Marcon, Rosilene, 2014. "Institutional environment and Business Groups' resilience in Brazil," Journal of Business Research, Elsevier, vol. 67(5), pages 900-907.
    7. Lee, Seung-Hyun & Beamish, Paul W. & Lee, Ho-Uk & Park, Jong-Hun, 2009. "Strategic choice during economic crisis: Domestic market position, organizational capabilities and export flexibility," Journal of World Business, Elsevier, vol. 44(1), pages 1-15, January.
    8. Guerras-Martín, Luis Ángel & Ronda-Pupo, Guillermo Armando & Zúñiga-Vicente, José Ángel & Benito-Osorio, Diana, 2020. "Half a century of research on corporate diversification: A new comprehensive framework," Journal of Business Research, Elsevier, vol. 114(C), pages 124-141.
    9. Lee, Keun & Kim, Ji Youn & Lee, Oonkyu, 2010. "Long-term evolution of the firm value and behavior of business groups: Korean chaebols between weak premium, strong discount, and strong premium," Journal of the Japanese and International Economies, Elsevier, vol. 24(3), pages 412-440, September.
    10. Meschi, Pierre-Xavier & Ricard, Antonin & Tapia Moore, Ernesto, 2017. "Fast and Furious or Slow and Cautious? The Joint Impact of Age at Internationalization, Speed, and Risk Diversity on the Survival of Exporting Firms," Journal of International Management, Elsevier, vol. 23(3), pages 279-291.
    11. López Zapata, Esteban & García Muiña, Fernando Enrique & García, Susana María, 2019. "Analysing the relationship between diversification strategy and firm performance: the role of the economic cycle," Cuadernos de Gestión, Universidad del País Vasco - Instituto de Economía Aplicada a la Empresa (IEAE).
    12. Jörg Claussen & Christian Essling & Christian Peukert, 2018. "Demand variation, strategic flexibility and market entry: Evidence from the U.S. airline industry," Strategic Management Journal, Wiley Blackwell, vol. 39(11), pages 2877-2898, November.
    13. Ferris, Stephen P. & Kim, Kenneth A. & Kitsabunnarat, Pattanaporn, 2003. "The costs (and benefits?) of diversified business groups: The case of Korean chaebols," Journal of Banking & Finance, Elsevier, vol. 27(2), pages 251-273, February.
    14. Shavin Malhotra & Joseph S. Harrison, 2022. "A blessing and a curse: How chief executive officer cognitive complexity influences firm performance under varying industry conditions," Strategic Management Journal, Wiley Blackwell, vol. 43(13), pages 2809-2828, December.
    15. Elsahn, Ziad & Earl, Anna, 2022. "Alternative ways of studying time in qualitative international business research: A review and future agenda," Journal of International Management, Elsevier, vol. 28(3).
    16. Thomas Hutzschenreuter & Ingo Kleindienst & Christina Guenther & Martin Hammes, 2016. "Speed of Internationalization of New Business Units: The Impact of Direct and Indirect Learning," Management International Review, Springer, vol. 56(6), pages 849-878, December.
    17. Choi, Young Rok & Yoshikawa, Toru & Zahra, Shaker A. & Han, Bong H., 2014. "Market-oriented institutional change and R&D investments: Do business groups enhance advantage?," Journal of World Business, Elsevier, vol. 49(4), pages 466-475.
    18. Alexander Mohr & Georgios Batsakis, 2017. "Internationalization Speed and Firm Performance: A Study of the Market-Seeking Expansion of Retail MNEs," Management International Review, Springer, vol. 57(2), pages 153-177, April.
    19. Zúñiga-Vicente, José Ángel & Benito-Osorio, Diana & Guerras-Martín, Luis Ángel & Colino, Alberto, 2019. "The effects of international diversification on the link between product diversification and performance in a boom and bust cycle: Evidence from Spanish firms (1994–2014)," Journal of International Management, Elsevier, vol. 25(4).
    20. Lee, Keonbeom & Peng, Mike W. & Lee, Keun, 2008. "From diversification premium to diversification discount during institutional transitions," Journal of World Business, Elsevier, vol. 43(1), pages 47-65, January.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:abaman:v:19:y:2020:i:2:d:10.1057_s41291-019-00062-6. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.