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Strategic types and performances of small firms in Korea. (strategic management of small firms in Korea)
- Article from:
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International Small Business Journal
- Article date:
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October 1, 1994
- Author:
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;
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Copyright informationCOPYRIGHT 1994 Woodcock Publications Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Three successful strategy types can be identified among Korean small firms. These are versatile, efficient and innovative companies. Reactive and marginal types of unsuccessful companies have also been identified. Small firms should aim to develop a clear strategy and keep their strategy coherent. Versatile companies need a strong organizational capacity, while smaller firms can reduce costs through efficiency if product differentiation is not important.
Introduction
STRATEGIC MANAGEMENT OF SMALL firms appears to be an important issue in newly industrialising countries (NICs) as well as in developed countries (DCs). Small firms in NICs like Korea, typically basing their ...
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