Launching Academy of Asian Business Review

김정구 Academy of Asian Business (AAB) 2015 Academy of Asian Business Review Vol.1 No.1

It is our great pleasure to introduce to the business and consumer research community a new journal, Academy of Asian Business Review (or AABR). AABR focuses on publishing high-quality papers dealing with Asian businesses and consumers. As interests in how Asian businesses and markets continue to grow, the demand for business case studies and consumer studies on Asia has been gaining significant momentum. As the official journal of Academy of Asian Business, Academy of Asian Business Review (AABR) aims to help professionals such as academics, business practitioners, educators, and policy-makers work together to have a better understanding about Asian businesses and consumers in terms of their success factors and their cultural differences. The journal aims at publishing papers that have significant implications for both academics and business practices in starting a new business or growing an existing business in Asia.

Rationales and Evidence of Elastic Taping: A clinician's perspective

Langendoen, John,Fleishman, Caren,Kim, Soon Hee,An, Ho Jung International Academy of Physical Therapy Research 2016 Journal of International Academy of Physical Ther Vol.7 No.1

The purpose of this systematic review is to investigate the effects of tape application on improving body conditions. The search strategy for this review included a literature search by members of the International Kinematic Academy in 12 countries between January 2014 and February 2015 using PubMed, CINAHL, Cochrane, Google Scholar, websites and national journals. The search words included "Kinesiotape, Kinesio tape, kinesiotaping, elastic taping, taping, functional taping, myofascial taping, sensomotor taping". The review included all articles, even those published in different languages. These searches resulted in 821 publications. There are several effects of tape application were revealed such as improving blood circulation, lymphatic circulation, body range of motion, activation of mechanoreceptor and joint stability, and decreasing pain. No one negative about the positive effects of taping, however the more effort is required to find evidence of effects of tape application.

Long-term implant success at the Academy for Oral Implantology: 8-year follow-up and risk factor analysis

Busenlechner, Dieter,Furhauser, Rudolf,Haas, Robert,Watzek, Georg,Mailath, Georg,Pommer, Bernhard Korean Academy of Periodontology 2014 Journal of Periodontal & Implant Science Vol.44 No.3

Purpose: Rehabilitation of the incomplete dentition by means of osseointegrated dental implants represents a highly predictable and widespread therapy; however, little is known about potential risk factors that may impair long-term implant success. Methods: From 2004 to 2012, a total of 13,147 implants were placed in 4,316 patients at the Academy for Oral Implantology in Vienna. The survival rates after 8 years of follow-up were computed using the Kaplan-Meier method, and the impact of patient- and implant-related risk factors was assessed. Results: Overall implant survival was 97% and was not associated with implant length (P=0.930), implant diameter (P=0.704), jaw location (P=0.545), implant position (P=0.450), local bone quality (P=0.398), previous bone augmentation surgery (P=0.617), or patient-related factors including osteoporosis (P=0.661), age (P=0.575), or diabetes mellitus (P=0.928). However, smoking increased the risk of implant failure by 3 folds (P<0.001) and a positive history of periodontal disease doubled the failure risk (P=0.001). Conclusions: Summing up the long-term results of well over 10,000 implants at the Academy for Oral Implantology in Vienna it can be concluded that there is only a limited number of patients that do not qualify for implant therapy and may thus not benefit from improved quality of life associated with fixed implant-retained prostheses.

Ownday: Changing Eyewear Necessity to Fashion Accessory

Ang Swee Hoon,Wu Sheen Yee Shannon,Chia Eik Chieh,Khoo Chien Yi Danny,Khoo Wee Boon Academy of Asian Business (AAB) 2020 Academy of Asian Business Review Vol.6 No.1

This is a case study on OWNDAYS Pte Ltd. Owndays is an optics shop established in 1989 in Japan. It was previously on the verge of bankruptcy due to humongous debts until Shuji Tanaka, the current president and CEO, decided to acquire it in 2008. Under Tanaka’s leadership, as of 2018, Owndays has successfully penetrated 11 Asian markets as of 2018 and they plan to open more than 500 stores across the Asia Pacific Region over the next 5 years. The factors behind the success of OWNDAYS are closely examined in this report alongside the major turning points. We also seek to identify potential difficulties OWNDAYS will face in the coming years and how they could potentially overcome them to be the leading company in the eyewear industry. The report aims to uncover the reasons for the unprecedented growth of OWNDAYS by focusing on the major turning points that were led by successful business strategies envisioned by Mr Tanaka and his team. A profound analysis of this case study gives companies a better understanding of both the optics industry and also helps companies better understand how to maneuver through an unpredictable, fast-paced realm of business. Awareness of the challenges and fundamental reasons for OWNDAYS’ success in surmounting these obstacles would provide great insight to namely failing companies seeking to revive their businesses.

Tiger Balm: Becoming King Again

Bryan Teo Yisen,Haris Thong,Lucas Tan Jen Sen,Stephanie Lim Yan Qing,Ashok Charan Academy of Asian Business (AAB) 2020 Academy of Asian Business Review Vol.6 No.1

This case study aims to analyse the success story of Tiger Balm, an analgesics company best known for its remedy for all pain ailments. The brand’s ability to transform a heritage product into a popular remedy for all modern pains offers insights for business leaders trying to rejuvenate age-old products while staying true to tradition. Despite the maturity of the analgesic industry (Euromonitor, 2018), Tiger Balm’s growth-leading brand turnaround proves that breakthroughs in a mature category is not impossible. Instead, this case offers readers with the tools to replicate that success. Our analysis uncovered a complementary set of influences that ultimately led to Tiger Balm’s success. First, a strong management team and company culture focused on visionary leadership, an appetite to try new things, and an unwavering persistence enabled the company to execute long-term strategies. Second, the company fiercely protected the core elements of its heritage while adopting modern branding techniques that appealed to the next generation of analgesics users. Finally, the company committed itself to constant innovation that saw its products pioneer many breakthroughs in the pain-relieving industry and beyond. The case magnifies three significant points in time that pivoted the course of Tiger Balm, each drawing useful lessons for the reader. At the beginning, the Aw Brothers’ decision to re-base in Singapore and aggressively expand across Asia through innovative marketing techniques drove sales to its peak at $10 million. However, in its next turning point in the 1970s, the company was sold to a holding company that knew very little about the balm’s historic value, leading to its neglect and decline. Our last section looks at the re-emergence of the balm in 1991 when it was recovered by its original holding company, renamed Haw Par Corporation. Led by executive director AK Han and his team, the brand was carefully re-invented to meet the demands of the modern analgesics market while keeping to its roots. That strategy proved to be widely successful both in the East and West, with Tiger Balm expanding its presence to over 100 countries with its reinvigorated portfolio of more than 20 products including pain-specific patches, sprays, rubs and gels. This case study, by analysing the undying determination of a heritage company, hopes to offer insights for established Asian enterprises. Moreover, the various uniquely Asian-specific strategies, present valuable lessons for Asian businesses looking to remain successful over the long haul. Tiger Balm’s visionary leadership, unique marketing strategies and unwavering commitment to its heritage and values are fascinating aspects of its success that are worth examining.

Can Honestbee Fly Again?: From Rapid Regional Expansion to Closure and Mounting Debt

Kahhow Lee,Patricia Andrea Guevarra,Melvin Yeo,Alton Yeow Kuan Chua Academy of Asian Business (AAB) 2020 Academy of Asian Business Review Vol.6 No.1

Technology is reshaping the grocery shopping experience. This case study analyzes the journey of Honestbee, an online grocery and food delivery company, one of the forerunners of this digital transformation of modern grocery retail. Founded in Singapore in 2015, Honestbee has expanded from online platform services to brick-and-mortar verticals with Habitat - a supermarket, specialty fresh grocer, online fulfilment centre, retail innovation hub and experiential dining destination in Singapore. Organizational management which culminated in cash flow issues are among the biggest obstacles that Honestbee faces as underpins the recent negativity publicity as well as cutting of global staff and suspension of some overseas services. Nevertheless, in spite of the current financial obstacles, Honestbee is still poised for success in the region as it tightens its business focus on Singapore, Taiwan and the Philippines with plans to not only to extend new retail through Habitat to other overseas markets but also to strengthen inventory management solutions as a promising vertical. The future of retail is not just digital but involves a reimagination of the current shopping experience. In this regard alone, Honestbee merits study.

Peninsula: Behind the Sustainable Luxury Journey of the Brand

Kenneth K. Kwong,Jamie J. Li,Vanessa Y. S. Cheung,Vicky V. Ng,Julianna N. Y. Ho Academy of Asian Business (AAB) 2021 Academy of Asian Business Review Vol.7 No.2

Operating under the brand name of Peninsula, The Hongkong and Shanghai Hotels, Limited (HSH) aspires to be the most luxury hotel company in the world. As a listed company in Hong Kong, its owns and operates the oldest hotel in the territory. Almost 60% shares of the company are held by Kadoorie, the family emigrated from Baghdad to Hong Kong in the late 19th century. Not only the core corporate values are largely shaped by the Kadoorie philosophy but also its Board Chairman is coming from this Iraqi-Jewish family. Having experienced many historical events from the Imperial Japanese occupation of Hong Kong during the Pacific War to COVID-19, HSH has upheld its reputation as the world’s finest luxury hotel by preserving the best of the past yet remaining innovative. The Peninsula Hotels is the main business as well as the flagship brand of HSH. The success of the hotel business can be attributed to the codified employee behaviors, the commitment to bespoke and luxurious experience, core values, cross-country travels, and call for sustainability. Its future, however, is not without challenges. In the home market, major challenges are social unrest and political turmoil, grasping the local customers’ pulse, and leadership and continuity. As for the challenges it faced in the world market, they are economic downturn and resilience, global travel restrictions, quarantine and social distancing, and new hotels developments. This case study presents the journey of a century-old company to evolve from a local hotel to the most admired luxury hotel brand in the world. It exhibits the ways to build a hotel brand on the tradition of respecting history and heritage of the city and community to which it belongs to. It illustrates that luxury can be achieved by giving customers sustainable choices. Luxurious but sustainable is the hallmark of the Peninsula brand. All in all, this case study offers a good learning lesson to anyone interested on branding, luxury, and sustainability in the hospitality industry.

Shiseido, the Sleeping Beauty of the Cosmetics Industry: Learning from its Success, Failure, and Revival

Jake Zhu,Rei Hanada,Claudia Verdes,Sheena Iyengar Academy of Asian Business (AAB) 2019 Academy of Asian Business Review Vol.5 No.2

Shiseido is the only company of Asian origin among the top five global players in the cosmetics industry. Started as a pharmacy back in 1872, the company is the world’s oldest cosmetics company. Shiseido’s early success is attributable to its unique blending of eastern aesthetics and western science in cosmetics. The use of centralized management system ensured consistency of brand reputation and product quality around the world. However, Shiseido’s business significantly underperformed in comparison to its competitors from 2008 to 2014. Sales stagnated, and profitability declined. The lack of strategic focus, inflexibility of localization effort, and insufficient investment in core strength are the key failure factors. Starting in 2014, with the appointment of Masahiko Uotani as the new CEO, Shiseido’s performance substantially recovered. Sales crossed JPY 1 trillion for the first time in 2017. The decentralization of power, building of success at home to leverage abroad, dual mission of targeted investment and cost-cutting, and adherence to the spirit of Japanese management principles are the key success factors. With opportunities in the Americas and EMEA (i.e. Europe, Middle East and Africa) markets, and with Shiseido’s focus on technology, the outlook remains bright. Key lessons for struggling Asian corporate giants from Western management methods include: seek the right leadership externally, not just internally; make upfront investment for later growth; and decentralize decision-making power where beneficial. An ideal management model for companies of all sizes can be built by mixing Western management methods with the spirit of Japanese management.

TikTok: Startup from the Stage of the Ideation to the One of the Growth

RAMZI SALLEM,SAEEDA AL HARA'MI,ASHWAQ AL SHUHAIMI,MANAR AL MUKHAINI,SUMAYA AL-QANOOBI Academy of Asian Business (AAB) 2022 Academy of Asian Business Review Vol.8 No.2

Nowadays, social networks and vines have become a necessity for all of us to make from our smartphones a real tool of education and entertainment. With an exponential growth in terms of the application download reaching actually about 1.8 billion active users and revenues estimated to more than 10 billion dollars in the end of 2022, The “TikTok” application is becoming not only a social phenomenon, but it is also the new serious competitor of big digital startup like Facebook, Instagram and YouTube. Thus, the current case study aims to analyze the “Tik Tok” company, a world-famous vine, which is considered as a very successful Asian startup. Based in China, this startup has recently achieved remarkable performance in a multidimensional level: Technological, commercial, and financial. Interested by this case, an effort of analysis was made to understand the growth stages of that global application, its critical milestones, and its crucial turning point: the COVID 19 pandemic which was detected as the “good wind” to the development of that startup. After a strategic diagnosis made through a SWOT analysis, we found many elements that constitute the value proposition, the competitive advantage, and the key success factors of that company. These findings are very important in terms of the added value to young people, merchants, and nascent entrepreneurs. The traced strategies that it has developed to overcome difficult challenges are very didactic and instructive to the community of digital startuppers to be inspired from the reasons behind the success of that Asian company, and to gain knowledge about the evolving market through technology.

The Leap of GO-JEK: Unfolding A Unicorn Startup Journey

Agus, Anna Amalyah,Arafah, Anjani Yaumil,Suprayana, I Kadek Oka,Sari, Monica Puspita Academy of Asian Business (AAB) 2019 Academy of Asian Business Review Vol.5 No.1

The world is currently moving at a very tremendous pace. It seems like just last year, where the only option for private transportation are stopping taxis by the highway or finding the closest motorbike taxi shelter. But now, not only it's just one-click away to pick a ride but you can even order foods or movie tickets as well. The name of the application is GO-JEK. We first analyze GO-JEK’s SWOT and Porter’s Five Forces to gain insight on how GO-JEK are trying to win the competition. After that, we conduct a cross-industry highlight comparison to better understand how massive GO-JEK is. Here, we gain insight that GO-JEK is actually not only a business solely for profit, but is a business of love that aimed to create a change through making social impact. As their success factors, they successfully utilizing their first-mover advantage, understanding of local context, and advantage of weak transportation infrastructure to be able to become this great. However, they continuously facing many challenges both from internal and external. Therefore, they have to keep involving in order to survive. They able to turn a slight opportunity into bigger ideas and execute them nicely. They are also very agile in their strategy and innovation which is the most important requirements in this fast-paced industry. GO-JEK managed to push their way through and even received funding of $2.1 bllion in total as of 2018 from great companies such as Google, Temasek, Tencent Holdings, Sequoia, and many others. As for now, they plan to soar further into international market by expanding. For the closing of this paper, we give some recommendation for GO-JEK future.