A Study of Innovation and Internationalization Strategies by a Hidden Champion Firm in Korea: The Case of CAP Corporation

• 발행기관: 한국4차산업학회
• 저자명: Kouame Kouakou SAMSON Youngwoo LEE
• 간행물 정보: 『4차산업연구』제1권 제1호, 1~10쪽, 전체 10쪽
• 주제분류: 경제경영 > 경영학
• 파일형태: PDF
• 발행일자: 2021.03.31

영문 초록

Purpose – This case study analyzes the internationalization strategy and innovation strategy as key factors contributing to the business success of CAP, a small and medium-sized manufacturing company in Korea producing auto parts such as wipers. This study describes the diversification strategies conducted by CAP Corporation and highlights the company’s core competencies that have largely contributed to their global competitive success. Research design, data, and methodology – This paper provides in-depth case study on how CAP was able to grow into a hidden champion company, focusing on their strategies since its establishment. In particular, by analyzing the success factors centering on CAP s aggressive innovation strategy and internationalization strategy, it presents guidelines for small and medium-sized enterprises in Asian countries to become a Hidden Champion company. Result – CAP’s product technology has successfully established innovative system on their product called ‘vertebra spring’ to distribute uniform pressure to the rubber to ensure performance as well as durability of their products. In order to continue benefiting from utilizing core competence and to continue pursuing technological advancement in the wiper industry, CAP has launched a wide range of products (flat blade, conventional blade, hybrid blade) applicable to 95% of the vehicle in the market. Conclusion – Taken together, CAP has many aspects of a hidden champion company by investing in R&D up to 8% of its annual sales to R&D investment even during the crises situation. This number is about 3.36 times higher than the average ratio of listed companies in Korea. Furthermore, the leadership of the management team as well as their vision toward the global market and strong commitment to innovation enabled CAP to become the world s fifth-largest wiper and Asia s No. 1 wiper manufacturer.

목차

1. Introduction

2. Company Profile

3. Global Financial Crisis and its Overcoming story

4. Conclusion

References

키워드

SMEs Hidden Champion Internationalization Innovation strategy