What is Coming Next in Asia?: Emerging Research Issues

주우진,유필화,김경자,김상용 Academy of Asian Business (AAB) 2015 Academy of Asian Business Review Vol.1 No.2

Why is it important to talk about Asian business? This question was the main theme of this journal from its inception. Since we currently have readers from all parts of the world, we would like them to understand why they should care about Asian businesses and consumers. We would also like to learn how to better prepare for our future research, businesses, and career paths in the context of very fast-moving Asian businesses. This article is based on a keynote panel discussion held by four distinguished experts on Asian business and marketing issues during the inaugural AAB International Conference. This article offers a fruitful research agenda for both scholars and practitioners. The panel members were asked two questions. The first was, “What is your assessment on what is happening and what is coming next in Asia from your perspective as a researcher and a research domain expert?” The second question was, “What are the implications of those expected changes to scholars and practitioners for the preparation of their research and businesses?” This article focuses on the four major issues that have emerged in recent times according to the expert panel members: (1) Global branding and CSR in Asia, (2) Ultra-low class segments versus luxury segments in Asia, (3) Diversity and similarity among Asian consumers, and (4) Services marketing challenges in Asia. These four broad research areas are not exhaustive of all emerging research topics, but they are among the most challenging issues in the near future. We kept the narrative form of presentation in its original form instead of rewriting the whole presentation with the exception of minor edits for clarity.

Huawei’s Thirty Years: From Phone Switch Resellers to Global Telecom Equipment and Service Giant

Kevin Han Huang,Selina Juehua Su,Lulu Ouyang Academy of Asian Business (AAB) 2017 Academy of Asian Business Review Vol.3 No.2

This case study aims to analyse the success story of Huawei, a leading Chinese telecommunication company, best known for its infrastructure equipment manufacturing and its smartphone production. The report is presented in three parts. The first part examines the events and turning points in the years prior to Huawei’s current market leadership. Market conditions and competitors at the key junctures are analysed, and Huawei’s corresponding strategies and consequent performance are discussed. The second part looks into the factors behind Huawei’s success, categorised in terms of internal management and external strategies. Distinct Asian-business features are highlighted and analysed in the context of the markets they are being applied to. The third part examines the current position and future potential of Huawei’s three major business groups in the context of market trends. This is followed by a discussion of the challenges faced by Huawei and recommended solutions. Market conditions underpinning the challenges are explored, while the effects and feasibility of solutions are analysed with specific examples. Finally, the conclusion examines what can be learned from Huawei’s success. As the world embraces rapid technological advancement in all spheres, this case study, by analysing the success story of a technological giant, hopes to offer insights for emerging Asian technological enterprises. Moreover, the many uniquely Asian-style business strategies, while not universally applicable, present valuable lessons for Asian enterprises wishing to succeed in the globalised world. Huawei’s revolutionary management structure, unique marketing strategies and devotion to research and development are particular aspects of its success that are worth examining.

What’s Happening and Coming Next in Asia?: AAB Special Report on Asian Consumers & Businesses

김미예,김진영,기수경,Joseph I. Kim,Jennifer H. Kim Academy of Asian Business (AAB) 2015 Academy of Asian Business Review Vol.1 No.1

There are two major questions we want to address in this report: Asian consumers and their views on Asian companies and leaders. Specifically, we asked how they felt in terms of happiness and economic power and what they thought about the performance of companies and business leaders. We surveyed more than 1000 people in Asia, mainly from China, Korea, and Japan. In the survey, we first asked how happy and satisfied in life they were, and how economically powerful they felt. Second, we asked what companies and business leaders they respected most. We also asked what companies they think are best in terms of other major dimensions: innovativeness, social responsibility, growth potentials, and wish-to-work-for. We obtained several important results and findings. With regard to consumers, we found that their answers were very important, and even surprising, to many people, and even contrary to the findings from several objective indicators which show that Asian countries such as China perform well in terms of economic and quality of life. As related to the Top 10 Asian companies and leaders, the data shows many interesting results which are consistent with our expectation and existing reports; for example, Samsung, Toyota, Softbank, and Alibaba were ranked at the top of the charts, as expected. However, we found several surprising findings that have not been reported in any other existing reports or studies. Our further data analysis and literature review suggest that the major findings provide very valuable strategic implications for consumer researchers, business leaders, policy makers, and anyone who are interested in getting big pictures about what is happening and coming next for their careers and businesses.

What’s Happening and Coming Next in Asia 2016?: AAB Special Report on Asian Consumers & Businesses

김미예,한정수,김진영,강명훈,Jennifer H. Kim Academy of Asian Business (AAB) 2016 Academy of Asian Business Review Vol.2 No.1

In the 2016 survey, we asked Asian consumers how happy, satisfied in life, and economically powerful they felt. Second, we asked which companies and business leaders they respected most. We also asked which companies they thought were best in terms of other major dimensions: innovativeness, social responsibility, growth potentials, and wish-to-work-for. We obtained several important results and findings that were very surprising. Although several objective indicators have shown the growth of Asian countries, a closer look reveals that not everything is improving, especially with regards to the well-being of citizen. As related to the Top 10 Asian companies and leaders, the data shows many interesting results which are consistent with our expectations and prior reports. For example, Samsung, Alibaba, Huawei, Haier, and Xiaomi were ranked at the top of the charts. While we expected Samsung and Alibaba to sweep the charts, the rise of new giants was fascinating. Our further data analysis and literature review suggest that the major findings provide very valuable strategic implications for consumer researchers, business leaders, policy makers, and anyone who is interested in seeing the big picture about what is happening and coming next for their careers and businesses.

Bluehole: Bluehole’s spectacular success in the video game industry

Yongjin Oh,이재원,Seungchul Lee Academy of Asian Business (AAB) 2018 Academy of Asian Business Review Vol.4 No.2

The purpose of this case study is to analyze the phenomenal global success of Bluehole, a game development company, which became the industry sensation through the release of ‘PlayerUnknown’s Battlegrounds (PUBG)’. This success story begins with an environmental analysis that explains the special opportunity the company found, how the global game industry has grown, the history of Bluehole and the company’s turning point. The success of PUBG is unique and trendy. Targeting the global video game market, a local Korean game development company went through an array of difficulties from the planning stage to the launch of the game and beyond. Bluehole decided to develop this game in a short period of time, and they tried a new marketing strategy that was, up to that time, far from a successful game formula. The company used influencers from Twitch as a marketing channel for the game, they released an early access version through Steam nine months before the full release, and sold the early-released version at the same price as the official launch version. One more point to highlight is that this game is a great example in which mods (a game format) became a fully-fledged, incredibly successful type of game. This research not only presents the success factors but also discusses the challenges confronting Bluehole, and makes suggestions to help Bluehole successfully and creatively maintain their business. This case study provides a profound analysis of the video game market and the opportunities that companies, especially start-ups, can take in this fast-changing field.

Sea, Connecting the Dots: On the Cusp of Greatness

Germaine Tyo,Jasper Low Cheng En,Lee Jia En,Too Fang Jing,Andrew Karl Delios Academy of Asian Business (AAB) 2019 Academy of Asian Business Review Vol.5 No.2

Sea Limited (formerly Garena Limited) was founded in Singapore in 2009 as a digital entertainment services provider. Since then, Sea has ventured into digital financial services and e-commerce, achieved “unicorn” status, and undergone a successful Initial Public Offering. Sea has now arrived at a crucial juncture in its ascent and must make several important decisions to reach its next milestone. In 2014, Sea launched its digital financial services business: AirPay. AirPay was born out of necessity and strategy as part of Garena’s solution to avoid paying exorbitant transaction fees through third-party transaction services and to act as the foundation of other platforms in Sea’s development pipeline. Following AirPay, Sea launched its e-commerce platform: Shopee. Shopee was Sea’s highly ambitious and aggressive entry into a hotly contested space. Sea has invested significant resources into Shopee which have reaped correspondingly encouraging results. Keys to Sea’s success lie in its service orientation, adaptability, and the speed and decisiveness exhibited in the execution of strategy. These traits have allowed Sea to design the right platforms and products, change with the times and boldly implement planned changes. Asian firms can learn from how Sea manages to navigate the increasingly complex and tumultuous global business environment. Sea now faces major challenges in its way of becoming a truly global brand and faces some uncertainty. Nevertheless, Sea’s trajectory and positioning inspire optimism and will continue on its rise to the top.

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.

A Decade of Meituan-Dianping’s Development: What Makes a Brand Stands Out from The Crowd?

Guanxiu Lin,Shunshun Pang,Shuhan Wang,Chen Te-feng Academy of Asian Business (AAB) 2020 Academy of Asian Business Review Vol.6 No.1

Digitalization era offers a precious opportunity to the e-commerce industry, while it also manifests strong competition between continuously emerging enterprises. Meituan-Dianping is undoubtedly one of the fastest-growing IT companies in China. Within just eight years, it has grown into the largest local life service e-commerce platform, expanding its business margin from the initial group purchase to the “to C” (i.e. “to Customer”) service in the areas of catering, entertainment, travel, traffic, retail and related vertical “to B” (i.e. “to Business”) service. To explore the success secrets and distinct Asian-business features for an Asian company to stand out from the crowd, this study analyses Meituan-Dianping’s historical and current development strategies, which results in its current leading position in China’s e-commerce market. Through this study, we expect to provide applicable example for e-commerce startups, about the ingredients of how to accurately positioning company’s profile and segmenting the readily-saturated market. Meanwhile, the history of Meituan provides insights about the future development trend of China’s O2O market, which we believe can served as a reference for the companies under similar industry. The structure of the paper includes four major parts. The first part (Section.1-3) examines the transformation history and emphasizes the key turning points of Meituan-Dianping. The strategies and subsequent performance in each kick points are analyzed, including the competition at the beginning stage, the diversification during the transition stage and the product upgrading at the booming stage. The second part (Section.4) explores the success factors that Meituan-Dianping possessed in tough times under the devastating competition period, and examines how Meituan-Dianping exploited threats into opportunities during later stages. The comparison between Asian characteristics and Western styles are analyzed in the context of the markets they subordinate. The third part (Section.5) looks into the market conditions categorized in terms of the macroenvironment and microenvironment, using PEST model and Porter’s 5-forces model respectively. In the last part (Section.6-7), this paper generates recommendations for Meituan-Dianping’s future development, based on the previous external environment analysis, aiming at enhancing Meituan-Dianping’s existing competitive advantages.

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.

Big Hit Entertainment: Soar with Multi-Labels Integration, Social Platforms and Innovations

Tatia Turazashvili,Elene Svanidze,Mariam Katsitadze,Beso Namchavadze Academy of Asian Business (AAB) 2021 Academy of Asian Business Review Vol.7 No.1

This case aims to analyze the successful story of Big Hit entertainment - A globally rebound entertainment company, which achieved significant success worldwide. How Big Hit achieved success and what was the way from a small company to a big player in the entertainment business. Also, how Big Hit has gone through from the bottom of the pyramid to achieve the Top. We will analyze how Big Hit's business performances improved after launching the multi-label approach. The key success factor of multi-label platforms will be evaluated. Approach Big Hit have can be used as a reference by other companies who have difficulties or by those, who are new ones in this business. Also, we will assess the contemporary situation and current challenges Big Hit has, perspective directions and opportunities will be discussed at the end of the report. The case study consists story of how Big Hit deals with current challenges by finding market opportunities and taking advantage of core competence to turn into a fast-growing business. It is noteworthy that our case study provides significant information on the Big Hit entertainment business's strategies and creative approaches compared to user studies. Firstly, our study is much more focused on the company’s evolution and strategies throughout its existence when other studies only center around BTS. In our case we have presented Big Hit’s innovative way of using IP branding strategy, their contribution to K-pop culture, and their approach to Artists. Secondly, we have discussed their inner boarding system and multi-label platform. Thirdly we have emphasized their current challenges and our suggestion on how to overcome them. Also, we have explored the company’s strategies from consumers' point of view, while actively using their services provides to customers. In conclusion, we thought that this case would help to understand big hit business strategies, also serve as valuable knowledge about the evolving and innovating approach scheme for everyone interested in it. This case can show you, that this scheme, the “Big Hit success formula” can be useful and applied not only for companies from the entertainment field but for every business that eager to succeed.