웁살라 모델 관점의 인수합병을 통한 국제화 전략 연구 : 두산에너빌리티를 중심으로

이양복 한국경영컨설팅학회 2022 경영컨설팅연구 Vol.22 No.6

This study examines the internationalization and growth strategy of Korean multinational enterprise based on Uppsala model, Eclectic theory and M&A. The case analysis of Korean MNE Doosan Enerbility company which has an unique position in nuclear power energy industry finds following results. First, internationalization has been proceeded by sequential stage approach suggested by the Uppsala model. The initial turn-key based project is gradually expanding to foreign direct investment in local country. Second, international M&A strategy contributes effectively to enhance required core competence and enter the foreign markets, especially Europe and Asian countries. Most local organizations are established as wholly owned subsidiaries to protect their technological competency. Those successful M&A experiences become strong organizational assets. Third, the direct investment into India markets is well explained by eclectic theory, such as firm specific advantage, internalization and location advantages. Subsidiary manages effectively the local projects and government relations under localization strategy. This study is so meaningful to provide an evidence and practical implications that the key theories of international business are still valid for Korean multinational enterprise in nuclear power energy industry. 본 연구는 에너지 산업에 대한 전 세계적인 관심이 높아지는 시점에 원전과 플랜트산업의 고유한 역량과 위상을 토대로 글로벌 경영을 공격적으로 강화하고 있는 한국의 다국적기업에 주목하여 분석하고자 한다. 국제화 전략의 주요 이론적 시각에서 에너지 선도기업인 두산에너빌리티의 분석을 통해 다음의 주요 결과를 확인하였다. 첫째, 해외시장의 진입은 수주업의 특성이 있지만 전통적인 제조기업의 국제화 과정을 설명하는 웁살라모델의 단계적 진출을 이행하며 국제화 수준과 범위가 확대되었음을 확인하였다. 내수시장의 지배력과 역량을 우선적으로 확보한 이후 점차 해외수주에 이어 해외시장 직접투자로 전개되면서 국제화가 성숙되는 경로를 거쳤다. 둘째, 국제화와 성장과정에서 산업에서 요구하는 핵심역량 확보와 해외시장 다각화를 위해 인수합병(M&A)을 적극적으로 활용하였다. 특히 유럽과 미국 등 해외 선도기업의 주도적인 인수와 성공적인 통합으로 역량을 내재화 한 것이 특징이다. 이러한 성공적인 국제 인수합병의 경험은 조직의 자산이 되었다. 셋째, 인도시장의 직접진출은 독점적 우위, 내부화 및 입지우위의 절충이론 관점에서 접근되었다. 특히 인도시장 진출이 턴키 프로젝트 수주에서 직접투자로 확대되면서 현지조직은 완전자회사 형태로 운영하면서 현지정부와의 관계구축, 핵심기술력에 대한 효과적인 통제와 현지화를 추진할 수 있었다. 본 연구는 에너지 산업의 경쟁력 제고가 요구되는 시기에 수주기반 에너지 산업에서 주도적 역할을 하고 있는 한국 다국적기업의 국제화에 있어 위험관리를 위한 단계적 접근과 인수합병의 효과적인 활용의 특성을 확인하고 실무적인 시사점을 제시한 것에 의미가 있다.

웁살라 모델관점에서 넥센타이어의 국제화 전략 연구: 경영자의 시장지향성 중심으로

이양복,박찬웅 한국전문경영인학회 2019 專門經營人硏究 Vol.22 No.3

This study focuses on the internationalization strategy of Korean multinational enterprise based on Uppsala model and Eclectic theory. The case analysis of Nexen Tire Company as a top 3 player in Korean tire industry finds following results. First, Internationalization has been intensified by following internationalization stage proposed by the Uppsala model. From the perspective of the global value chain, the initial sales and marketing process is gradually expanding to production and R&D. Second, In terms of the local organization type in the internationalization process, the sales corporation or the production corporation was established as wholly owned subsidiaries in consideration of the core competence of the company and the local position advantage. Third, since entering the overseas market, Nexen Tire has been operating the headquarters-oriented, centralized global management strategy. Headquarter still decides core strategies such as strategic planning, R&D and manufacturing, while subsidiaries’ sales and marketing functions are evolving into an participation stage with their own roles. This study is meaningful that the major theories of internationalization in market entry, entry modes, and global operation are still valid for Korean multinational enterprise and suggests some practical implications.

Asian apparel brands’ Internationalization: the application of theories to the cases of Giordano and Uniqlo

우홍주,Byoungho Jin 한국의류학회 2014 Fashion and Textiles Vol.1 No.1

How did Asian apparel brands internationalize in the competitive global apparel market? Although Asian brands are becoming global, most of previous research on internationalization was limited to the cases of the brands having Western-origins. This study aimed to explore the internationalization patterns of two leading Asian apparel brands, Giordano and Uniqlo, applying existing internationalization theories. For analysis, a case study approach was adopted by analyzing the secondary data from company reports, websites, and trade publications, following the previous case studies. Today Giordano and Uniqlo are operating more than 2,000 stores worldwide. They internationalized to the geographically close markets first, and then extended the businesses to far distance countries following the Uppsala model. Both brands are focusing on Asian developing countries recently. The two brands’ integrated supply chains and the positioning concept as basic, quality apparel at low price contributed to facilitating their internationalization. The findings confirm the existing internationalization theories and add the empirical cases of Asian brands to literature. This study also provides a managerial implication for the other brands seeking internationalization opportunities, especially for the brands with Western-origins, that need to compete with growing Asian competitors in global marketplaces.

국내 바이오 제약사의 해외진출 전략 비교 연구 : 웁살라 모델 및 본글로벌 관점

김치풍(Chi-Poong Kim),이지인(Ji-In Lee) 한국무역연구원 2021 무역연구 Vol.17 No.6

Purpose This study aims to draw implications from the nation’s leading bio-pharmaceutical companies by comparing their international strategies. In particular, this study adopts two theories related to internationalization, the uppsala model and the born global perspective, considering that there are differences in business models and international strategies among the bio-pharmaceutical companies. Design/Methodology/Approach Academic papers, websites, and newspaper articles were used to collect information on the status of international entry of companies, and to analyze basic information. Next, interviews with three bio-pharmaceutical industry experts were conducted to verify this and confirm additional content. Interviewees were selected with actual and industrial research experience. Findings We found that GC Green Cross and Hanmi Pharmaceutical, which are expanding their business to biomedicine based on chemical synthetic drugs, are explained by the Uppsala model, while Celltrion and Samsung Biologics’ international strategy focused on biomedicine comes from a born global perspective. Research Implications By systematically analyzing South Korean bio-pharmaceutical company international strategies, this study found that each company has various international market entry modes depending on product characteristics and CEO’s intention. Furthermore, it was suggested that a differentiated international strategy by region and country is necessary. In a practical sense, besides, this study suggests South Korean bio-pharmaceutical companies need a step-by-step international market entry strategy in the future

웁살라 모형의 국제화 단계에 비추어 본 LG전자의 국제화 역사에 관한 연구

송기홍(Khee hong Song),정재호(Jai ho Chung),조혜진(Hye jin Cho) 한국경영사학회 2017 經營史學 Vol.84 No.-

한국의 대표적인 수출 산업인 전기전자 산업 중 LG전자는 한국 최초의 전자회사이자 가장 앞서 해외 시장 수출과 국제화에 나서 세계적인 다국적기업으로 성장한 기업이다. 본 연구는 개발도상국의 기술과 자본이 부족한 중소기업으로 시작하여 높은 수준의 국제화를 달성한 LG전자의 사례를 단계적 국제화 이론인 ‘웁살라 모형(Uppsala Model)’에 기초하여 각 단계별 주요 전략과 핵심요소를 분석하고자 한다. 웁살라 모형이 제시하는 바와 같이 LG전자는 누적되어가는 경험적 지식을 바탕으로 점진적으로 국제화 수준을 높여갔다. 국제화의 첫 단계는 대리상을 통한 산발적 수출이었으며 두 번째 국제화 단계인 해외 판매법인 설립을 통한 규칙적이고 체계적인 수출 및 브랜드 구축 단계로 발전했다. 마지막으로 LG전자는 선진국의 신보호무역주의 조류의 극복과 글로벌 전략 완성을 위해 투자 규모와 요구 수준이 가장 높은 해외 생산법인을 통한 현지화 단계로 점진적으로 이전해 갔다. 각 단계에서 경험한 주요 도전요인과 LG전자가 이루어낸 성과는 한국 제조기업의 국제화에 대한 시사점과 기술과 자본이 부족한 개발도상국 기업들의 국제화 성공 모형을 제안한다. Electronics industry has been Korea’s leading exporting industries which experienced the first internationalization stage of Korean firms. LG Electronics is the first electronics firm in Korea that succeeded in foreign market penetration and internationalization, and became a world leading MNC. This study adopts Uppsala model of internationalization to analyze how LG Electronics transform itself from small and medium sized firm without competitive products and international experience to successful MNC. Uppsala model proposes that firms gradually intensify their activities in foreign markets, as firms can accumulate market knowledge to utilize such knowledge in increasing market commitment. First, the firm started to export in sporadic manner by using export agents. Second, accumulated knowledge and experience allowed LG Electronics to set sup its own foreign sales subsidiaries. Establishment of sales subsidiaries allows for regular and planned exporting activities. Lastly, LG Electronics established foreign manufacturing subsidiaries which need a large resource commitment. The sequential foreign market entry is especially followed by emerging market firms, since they lack competitive resources or knowledge, and LG Electronics’ internationalization history displays such internationalization process.

Fast-fashion retailers: Types of online-based internationalization

Jung Eun Lee 복식문화학회 2019 服飾文化硏究 Vol.27 No.1

This study identified types of online retail internationalization in the fast-fashion context and proposed driving factors of retailers’ choices in online-based market entry following the logic of the Uppsala model and the eclectic theory. In particular, this study proposes three types of online-based internationalization: 1) entering a host market with a physical store first, and then expanding with an online store, 2) entering a foreign market with an online store, then expanding to physical stores, and 3) entering only with an online business. In addition, this study investigated the causal factors, ownership-specific and location advantages, that influence the choice of the type of developmental process of online-based internationalization. To develop theoretical and managerial insights into the issue researched, this study employed a qualitative research design involving case studies of three European fast-fashion retailers, H&M, TOPSHOP, and ASOS. This study suggested that fast-fashion retailers that enter a host market with high ownership-specific advantages are likely to choose to enter the market with physical stores and then expand with online stores. On the other hand, when faced with uncertainties attributable to low ownership- specific or location advantages, fast-fashion retailers are likely to choose to enter with an online store first and then expand with physical stores as conditions change. Consequently, this study provides a better understanding for fast-fashion retailers who are willing to expand their businesses to foreign markets via online stores.

Fast-fashion retailers - Types of online-based internationalization -

Lee, Jung Eun The Costume Culture Association 2019 服飾文化硏究 Vol.27 No.1

This study identified types of online retail internationalization in the fast-fashion context and proposed driving factors of retailers' choices in online-based market entry following the logic of the Uppsala model and the eclectic theory. In particular, this study proposes three types of online-based internationalization: 1) entering a host market with a physical store first, and then expanding with an online store, 2) entering a foreign market with an online store, then expanding to physical stores, and 3) entering only with an online business. In addition, this study investigated the causal factors, ownership-specific and location advantages, that influence the choice of the type of developmental process of online-based internationalization. To develop theoretical and managerial insights into the issue researched, this study employed a qualitative research design involving case studies of three European fast-fashion retailers, H&M, TOPSHOP, and ASOS. This study suggested that fast-fashion retailers that enter a host market with high ownership-specific advantages are likely to choose to enter the market with physical stores and then expand with online stores. On the other hand, when faced with uncertainties attributable to low ownership-specific or location advantages, fast-fashion retailers are likely to choose to enter with an online store first and then expand with physical stores as conditions change. Consequently, this study provides a better understanding for fast-fashion retailers who are willing to expand their businesses to foreign markets via online stores.

Strategic Approach to Internationalization Paths of Korean Animation Companies

Valeriya Pichurina,Sang-Il Park 한국무역연구원 2013 무역연구 Vol.9 No.5

This paper is based on a case study of in-depth interviews of three Korean firms that distribute animated characters. It focuses on the "born-global" model and aims to investigate the internationalization paths of the firms. Building on prior studies in the marketing and international business literature, the authors propose a conceptual framework that incorporates firm capabilities, attitudinal dimension and business strategy. The method of logical replication was applied to categorize whether a firm follows a traditional or born-global approach and reveal any differences among them The main findings are that there are two distinct internationalization paths (traditional and born global) among animation ventures in Korea. Establishing sufficient domestic base and gradual exporting patterns are important factors in determining financial success. High brand recognition of characters influences the ability to attract investments in the local market. Prior experience and education in the related industry influence the success of the animation company both in domestic and foreign markets. Based on the findings, implications and future research directions are offered.

중국 자동차산업의 수출발전경로와 파급효과에 관한 연구

이영주,문희철 한국국제경영관리학회 2004 국제경영리뷰 Vol.8 No.2

한국제조기업의 국제화 과정 결정요인에 관한 실증적 연구

강태구(Tae Koo Kang),한영일(Young Il Han) 한국경영학회 2007 經營學硏究 Vol.36 No.1