Korea Enterprise Internationalization sample

Imitators focus on producing inexpensive products and duplicating other brands at the technical level, while followers are optimally using existing resources to reuse them in an improved way. Such innovations are not limited to products and services themselves, but also include business models, processes, channels and markets the global tsunami swept the world, many multinationals have contracted the front, in order to survive the current winter. However, there are some enterprises bucking the trend, and constantly gongchenglvede, such as LG, Samsung, Hyundai as the representative of the Korean enterprises. Why have Korean companies freed themselves from cheap labels over the past 10 years?　　Why is it possible to occupy a place on the international stage today? The success of Korean companies is a very good textbook, because too many companies are fast imitators, like 10 years ago in Korean enterprises. However, the strategy of such fast imitators is doomed to be unsustainable.　　If a business is at a crossroads, it is only to re-examine and reshape itself, to seek growth in innovation, to be transformed by imitators into followers, in order to find vitality and sustainable development. From imitation to following in the 1960, South Korea remains a poorer country than Iraq, Liberia and Zimbabwe. Today, the country that once suffered from colonial and war wounds has become the world's 11th-largest economy.　　Korea's companies and brands on the world stage has won worldwide attention to success, become the envy of global enterprises. How did such an economic miracle come about? One of the key factors is that Korean companies can actively seek innovation, and innovation as a tool to change themselves, to achieve from simple imitation to follow the world's leading enterprises. Imitators focus on producing inexpensive products and duplicating other brands at the technical level, while followers are optimally using existing resources to reuse them in an improved way.　　Such innovations are not limited to products and services themselves, but also include business models, processes, channels and markets. Followers simply optimize the use of existing resources rather than create new ones, and they do not represent the highest level of innovation. Such honors always belong to those companies, they create products, services, markets, channels, business models and processes, none of which is unprecedented.　　The experience of Korean companies over the past decades has shown that the followers and the strategies they implement can be very competitive. Once upon a time, with speed and efficiency, Korean enterprises successfully implemented a copycat strategy, the production of low-cost microwave ovens, televisions and other household appliances. However, with the influx of competitors, competition is increasingly fierce, the only way to survive and develop is to innovate. As Koreans themselves say, they set ambitious goals and devote themselves to research and development.　　At the same time, efforts to develop a differentiated vision of the market pioneers have the products, rather than simple imitation, stuck in the rut. Word, South Korean companies have faded their imitators in 1.1 of decades, increasingly becoming followers of top companies. The result is a consequent economic boom. A group of competitive companies, such as Samsung, Hyundai and LG, began to emerge and compete in international marketsNepal, Toyota, Nokia and other international leaders. The leap from imitators to followers in innovation often begins with fundamental strategic choices. This hairbreadth strategic transition is often accompanied by changes in the market environment, intensified competition and demands from shareholders and customers.　　The success of such a transition must be strongly driven by the highest level of decision-making. The thirst for management innovation is common in South Korea, where CEOs show a strong desire to lead world-class companies. Such a goal makes competition in the international market even worse, with South Korean entrepreneurs relying on more positive growth and openness to change. Kim, an example of LG's former CEO, said: "Those who respond to challenges in a transformative way will lead innovation and embark on the path of technological take-off." "And Samsung's former President Lee Kun-hee has widely circulated famous saying:" In addition to wife and children, everything needs to change!　　"Strong leadership and the ability to change the middle and lower classes are the characteristics of Korean entrepreneurs." The leader in the pursuit of innovation-driven growth must have the will to set ambitious goals, usually beyond the company's usual way of development. A tepid development goal can only achieve a step-by-step improvement and may be beneficial to the achievement of short-term goals, but not in the long run.　　In order to follow the leader, we must act decisively, not be cautious. [Page] Korean entrepreneurs are ambitious, and the technological revolution in LCD display technology is an example. In the 1990 's, the International Semiconductor Association (SEMI) had set a timetable for the development of LCD display technology, intended to help Japanese manufacturers to achieve technological progress. South Korean companies have not followed suit, but are fully engaged in the competition after seeing the potential targets of the industry.　　They move fast and go beyond rivals at every point in time by investing heavily in research and development. Now, South Korean companies have been able to lead a variety of large-screen flat-panel TVs, and cheaper. Imagine that without the unconventional behavior of Korean companies, consumers would have to spend 20,000 of dollars to buy products worth 4,000 of dollars.　　Of course, it is in the process, the Korean enterprises miraculously obtained a very favorable market position. There is no doubt that innovation means risk. Many of the most shocking changes ended in failure. In fact, failure and the lessons learned from it are essential elements in the process of innovation. A company without setbacks will never be a great company. So companies that are interested in change have absolutely no reason to be afraid. The only thing they need to be careful about is not to bet the company's future on one or two new products. Companies should build a diversified portfolio of innovative projects accordingly, just as sensible investors use diversified financial assets to hedge market risk.　　A successful portfolio of innovations should include a broad range of future business opportunities that should cover the entire value chain and take into account short-term, medium-and long-term returns. Korea's display giants LG and Samsung have successfully implemented diversified innovation strategies. ItHave established long-term innovation projects at the company level to track and develop emerging technologies. At the same time, they have created innovative projects at the business cluster level, focusing on technologies that can be commercialized in the short term, such as CRT, LCD and plasma.　　Through the diversity of projects, technologies and research and development approaches, LG and Samsung effectively reduce the risks associated with innovation. The majority of companies in the process of transition from imitators to followers will be relatively cautious, only to broaden their horizons after the original product and market to embrace more opportunities. Computer makers, for example, will turn into consumer electronics companies, or construction companies that have turned cement makers into multiple services.　　To exploit such untapped opportunities, innovative companies often create innovative platforms-a variety of functional products and business incubators designed to provide innovative interiors for new products, services, business models, and business modules. Korean companies have benefited from the above development model. LG, for example, has been a major producer of CRT TVs in just a few years by setting up a joint venture with Philips. But LG did not allow itself to adhere to CRT TV, the company relocated to display companies, set up a display production platform for the exploration of emerging technologies, such as plasma, LCD, LCOS, sed and DLP and so on. Whenever a technology matures, LG is marketed in a separate or joint venture. Products are not only television, but also include mobile phones, laptops and other display devices.　　Through the use of "external incubators" and innovative platforms, LG is able to achieve a full range of products, markets and customer base expansion. In innovation, if you can find the right partner, the effort will be more effective. Cooperation can spread risk, accelerate process and reduce innovation risk.　　Therefore, the establishment of an effective cooperative network is the key to follow by imitation--the method used by Samsung in the development of LCD process is exemplified. Samsung has long realised that producing the next generation of large-screen LCDs alone will cost billions of of dollars. Clearly, this is a costly and risky investment. Not to mention that the company's executives were unable to determine whether LCD would eventually prevail over plasma technology and other emerging technologies. Samsung then decided to set up a joint venture with Sony to develop production together. This significantly reduced costs, improved quality and expanded the entire LCD market. As one analyst put it: "Samsung and Sony win from the cooperative development market." "In the business world, new ideas tend to go through a long and painful journey to the end." Unfortunately, the problems in the business will prolong the cycle, as there is a serious bureaucracy associated with big companies that will stifle project innovation. The seriousness of the problem is that the rapid delivery of markets is vital to innovation. The benefits of quick action are obvious: the sooner a product enters the market, the easier it will be to gain revenue and market feedback, and the corresponding improved version can be launched as soon as possible so competitors will struggle to keep pace. Fast Fail offers fast learningOpportunities, the company can also quickly invest high-quality resources into other promising projects. Follow-up companies will also work unusually hard to break down the bureaucratic barriers and allow innovation to show market value in a quicker fashion. South Korean companies are racing to set up production bases to launch future-oriented LCDs. At that time, LCD technology was still in the process of development and commissioning. The move is like making landing gear for planes that have already taken off. There is no doubt that there is a huge risk, but the risk of waiting will be even more unbearable.　　We may not be advocating the radical practices of Korean companies, but it does make them very profitable. When LG tries to enter the U.S. market, it is not simply a clone of mobile phone leader Motorola, Nokia or Samsung. LG and the Mobile Communications Service Sprint conducted in-depth discussions to get a thorough understanding of sprint and customer needs. Since then, the two sides have jointly developed a new service model to promote the increase in operating income. To that end, LG is fully cooperating with Sprint to launch a digital camera phone. The product was once despised by industry-leading companies, with little practical value and too unwieldy. But the insights of LG policymakers and the way they listen to consumers have given them huge market returns. The video phone also helps Sprint explore a new business model, and LG firmly captures the market's opportunities and becomes the industry leader.