scholarly journals What Makes Companies to Survive over a Century? The Case of Dongwha Pharmaceutical in the Republic of Korea

2022 ◽  
Vol 14 (2) ◽  
pp. 946
Author(s):  
Moon Young Kang
Keyword(s):  
Manufacturing Industry ◽  
Small And Medium Enterprises ◽  
Republic Of Korea ◽  
Average Life Span ◽  
Business Environments ◽  
Standard And Poor's ◽  
Practical Guidelines ◽  
The Republic ◽  
Medium Enterprises

Considering their significant impacts on national economy, local communities, employees, suppliers, and other stakeholders, firm survival is an important goal for most companies. However, firm longevity is not an easy result to achieve, and it becomes more difficult as business environments shift dramatically. The average life span of companies listed in Standard and Poor’s 500 was 61 years in 1958, but it fell to less than 18 years in 2016. Nevertheless, more than 3000 companies over 200 years old still operate in Japan, mostly family inherited small and medium enterprises (SMEs), and Germany has many centenarian companies, especially in the manufacturing industry. However, in the Republic of Korea, with over 4000 years of history, there are no companies older than 200 years and only seven companies with over 100 years of history. Centenarian companies in Korea are very limited, and even after surviving over 100 years, they continue to face severe challenges they need to overcome in order to survive. However, it is not clearly proven what factors affect the survival of companies for over a century. Since SMEs contribute to the economic development and survival of a country, it is important to investigate the secrets of their longevity, which has become even more difficult than ever. However, as there is very limited research on firm longevity, the findings from this case study of Dongwha Pharmaceutical, balancing the continuity of tradition and innovation, provide significant implications and practical guidelines for Korean SMEs for their survival and sustainable management, which is an economic and business aspect of sustainability.

scholarly journals Technology Transfer and Diffusion among Manufacturing Small and Medium Enterprises in Indonesia

2006 ◽  
Vol 24 (2) ◽  
pp. 72-104 ◽  
Author(s):  
Tulus Tahi Hamonangan Tambunan
Keyword(s):  
Manufacturing Industry ◽  
Small And Medium Enterprises ◽  
Technology Knowledge ◽  
Effective Evaluation ◽  
Central Java ◽  
Diffusion Of Knowledge ◽  
Metalworking Industry ◽  
Medium Enterprises ◽  
And Diffusion

It is evident everywhere that in manufacturing industry, levels of productivity are higher in large enterprises (LEs), including foreign-owned firms or multinational companies (MNCs), than in small and medium enterprises (SMEs), partly because the former enterprises enjoy higher levels of technological capacity. Thus, for SMES, increased productivity might be facilitated through a scaling-up of knowledge or technology. The case study of the Tegal metalworking industry in Central Java presented in this article shows that the most important channels for the diffusion of knowledge/technology among domestic manufacturing SMEs include subcontracting arrangements with foreign direct investment (FDI). However, the importance of FDI as a source of technology/knowledge varies across the differing types of domestic firms. This study also shows that government agencies are currently the largest providers of training and similar assistance for manufacturing SMEs in the country. Such programmes, however, are rendered less effective by a low level of coverage, a lack of effective evaluation and assessment, and a supply rather than a demand orientation.

Critical Success Factors of High Performance Work System (HPWS) Practices: Findings from Malaysian SMEs

2020 ◽  
Vol 11 (1) ◽  
pp. 162-162
Author(s):  
Noor Hassanah Husin ◽  
Nur Naha Abu Mansur ◽  
Nur Naha Abu Mansur ◽  
Beni Widarman Yus Kelana
Keyword(s):  
High Performance ◽  
Manufacturing Industry ◽  
Small And Medium Enterprises ◽  
Success Factor ◽  
Good Reliability ◽  
Work System ◽  
Critical Success ◽  
Innovative Work ◽  
High Performance Work System ◽  
Medium Enterprises

Innovation plays a major role and is a crucial component of the organization’s growth. Creativity and innovation have become increasingly popular as key contributors to firm success in the last few decades or so. The incoming technology of Industrial Revolution 4.0 forced many companies to be innovative to compete in technological era. However, many SMEs are not ready and less innovative. Furthermore, there is lack of research focus on HPWS implementation amongst SMEs indicates that further research must be conducted along these lines. Therefore, this study aim to investigate the effect of high performance work system (HPWS) towards innovative work behaviour of employees in small and medium enterprises. This study used quantitative approach to identify the critical success factor of high performance work systems (HPWS) in Malaysian small and medium enterprises (SME) manufacturing industry. This study used descriptive analysis to analyze the data. Five-point Likert scales items ranging from (1-strongly disagree, 5 – strongly agree) employed for measuring the HPWS. Therefore, the total of 81 items survey questions were adapted to obtain the respondents for SME manufacturing industry. Reliability analysis shows that all the HPWS dimensions have very good reliability with Cronbach’s alpha value range from 0.884 to 0.976. According to Tang et al (2014), Cronbach’s alpha range between 0.70 and 0.80 considered as good reliability whereby 0.80 and 0.90 considered as very good reliability. Result also showed that selective staffing has the highest mean score followed by employee participation, which are 3.951 and 3.833 respectively. This proved that selective staffing is most important critical success factor in the HPWS implementation for Malaysian SME manufacturing industry. Keywords: high performance work system, work engagement, innovative work behaviour, small and medium enterprise.

Pure Biologics – From a Bootstrapped Boutique CRO to an Integrated Drug Discovery Public Company

2020 ◽  
Vol 7 (1) ◽  
pp. 48-63
Author(s):  
Sameer Deshmukh ◽  
Przemysław Jurek ◽  
Filip Jelen ◽  
Sabina Tabaczar ◽  
Tomasz Bakowski ◽  
...  
Keyword(s):  
Drug Discovery ◽  
Present Article ◽  
Small And Medium Enterprises ◽  
Public Funding ◽  
Corporate Management ◽  
Publicly Traded ◽  
Biopharmaceutical Company ◽  
Public Company ◽  
Medium Enterprises

The present article is a case study of a Polish biopharmaceutical company, “Pure Biologics”. The company was founded in 2010 by a group of scientists and, over the last nine years, grew substantially from just a few individuals to nearly one hundred professionals. Initially, a privately-funded civil partnership, Pure Biologics, has been transformed into a publicly-traded company. Such a transformation has been possible not only because of the expertise and growing experience of corporate management, but also the specific economic environment and substantial public funding dedicated to innovative Small and Medium Enterprises (SMEs).

Relevant factors of innovation contests for SMEs

2017 ◽  
Vol 23 (6) ◽  
pp. 1196-1215 ◽  
Author(s):  
Maria Isabel Rodriguez Ferradas ◽  
José A. Alfaro Tanco ◽  
Francesco Sandulli
Keyword(s):  
New Product Development ◽  
Corporate Culture ◽  
Small And Medium Enterprises ◽  
Retrospective Case ◽  
Content Type ◽  
Context Factors ◽  
Medium Enterprises ◽  
Design Factors ◽  
Relevant Factors

Purpose The purpose of this paper is to explore the relevant factors that influence the implementation of innovation contests, an open innovation (OI) practice that has been extensively reported in the literature as a managerial tool for external knowledge search. The authors focus the study on the context of small and medium enterprises (SMEs). Design/methodology/approach The approach is a retrospective case study. This methodology allows an in-depth view into a Spanish SME that successfully undertook two new product development processes thanks to the deployment of innovation contests. Findings The main context factors influencing innovation contests as managerial tool are ambidexterity, technological and marketing turbulence and intermediaries, among others. Regarding design factors, this work highlights the role of attraction and facilitation. Additionally, the repetitive implementation of innovation contests creates a corporate culture that promotes OI activities. Practical implications Managers will understand that they can use innovation contests as a managerial tool, and knowing the factors that need to be taken into account when implementing an innovation contest will help SMEs managers to make better use of this practice. Originality/value This case study enriches the literature of both innovation contests and topics relevant to SMEs. Based on a theoretical framework of the design factors that influence the implementation of innovation contests, the authors propose a research framework that incorporates those context factors in association with an SME.

scholarly journals Success Drivers for Implementing Circular Economy: A Case Study from the Building Sector in Colombia

2021 ◽  
Vol 13 (3) ◽  
pp. 1350
Author(s):  
Luz Elba Torres-Guevara ◽  
Vanessa Prieto-Sandoval ◽  
Andres Mejia-Villa
Keyword(s):  
Circular Economy ◽  
Small And Medium Enterprises ◽  
Implementation Process ◽  
Construction Sector ◽  
Direct Communication ◽  
Management Commitment ◽  
Medium Enterprises ◽  
Large Building ◽  
Do So

This paper contributes to the circular economy (CE) literature by investigating the drivers of success of the CE implementation in the construction sector and how those drivers can complement any implementation process in small and medium enterprises (SMEs). To do so, we analyzed the case of TECMO Estructuras Metálicas, using the methodology proposed by Jaca and colleagues to implement the CE in SMEs. It is a Colombian company with more than five decades of experience in the manufacture and installation of steel and aluminum structures for small and large building and infrastructure projects. The data were collected between August 2019 and November 2020 through direct communication with the company via workshops, meetings, and company reports. This research found that five drivers are relevant for implementing CE in the construction sector: fertile ecosystem, management commitment, identification of valuable materials, green teams, and CE intermediaries. Moreover, this study also contributes to teaching the implementation of the CE in companies, since it shows that through the methodology presented, implementation projects can be developed in postgraduate classes.

Sign in / Sign up

Export Citation Format

Share Document