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Abstract
We examine the historical evolution of different elements in value chains that create value-added and competitive advantage. This is achieved by using the conceptual model of the ‘smile curve’ with a longitudinal case study of a diversified business group, CJ Group, a former affiliated firm of Samsung Group. We found that the value-added structure graph in the industrialisation period displayed an ‘upside-down U shape’, indicating that production and manufacturing were the most value-adding sectors. However, in the more recent knowledge-based economy period, the graph shows a quite different shape, indicating R&D, firm infrastructure, manufacturing, logistics, service, and marketing as sources of value-added. This shows that competitive advantage diversified into other fields to fit with the changed economy. We also investigate what type of organisational structure, strategy, and capabilities were adopted for organisational change. We found an evolution, with an unrelated diversification strategy by altering capabilities from contacts and generic to organisational and technological capabilities.
Notes
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6. Park, ‘Cooperation between Business Associations and the Government.’
7. Lee, Clacher, and Keasey, ‘Industrial Policy as an Engine.’
8. Jun and Rowley, ‘Change and Continuity in Management Systems.’
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11. Kim, Hoskisson, Tihanyi, and Hong, ‘The Evolution and Restructuring.’
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13. Colpan and Jones, ‘Business Groups, Entrepreneurship.’
14. Salvaj, and Couyoumdjian, ‘Interlocked Business Groups.’
15. Silva, Amaral, and Neves, ‘Business Groups in Portugal.’
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18. Spurge and Spivak, Knowledge Exchange.
19. Prahalad and Hamel, ‘The Core Competence of the Corporation.’
20. Woodruff, ‘Customer Value: The Next Source.’
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22. Castellanos and Martin, ‘Training as a Source of Competitive Advantage.’
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28. Grant, ‘The Resource-based Theory.’
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31. Weick and Quinn, ‘Organisational Change and Development.’
32. Chandler, Strategy and Structure.
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35. Amsden and Hikino, ‘Project Execution.’
36. Hoskisson, Johnson, Tihanyi, and White, ‘Diversified Business Groups.’
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42. Hoskisson, Johnson, Tihanyi, and White, ‘Diversified Business Groups.’
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44. Spurge and Spivak, Knowledge Exchange.
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53. Kim, Business Groups in South Korea.
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56. Kang, The Korean Business Conglomerate.
57. Kim, Big Business, Strong State.
58. Stephan and Mo, ‘The Political Economy.’
59. Jun, The Strategic Management of Korean.
60. Kim, Business Groups in South Korea.
61. Jun, and Rowley, ‘Change and Continuity in Management.’
62. Jun, The Strategic Management of Korean.
63. Shim, and Steers, ‘The Entrepreneurial Basis of Korean Enterprise.’
64. The Bank of Korea, 2006.
65. IMF, Republic of Korea–IMF Standby Agreement.
66. Kim and Hong, The Changes of Debt.
67. Amsden, and Hikino, ‘Project Execution.’
68. OECD, Economic Surveys of Korea.
69. Lee, Ahn, and Sung, IT Korea.
70. WTO, International Trade Statistics.
71. Pearson, The Learning Curve.
72. Underwood, First Mover.
73. OECD, Science, Technology and Industry.
74. Kim, ‘The Dynamic Changes of Korean Top 200.’
75. Korea Fair Trade Commission, 2010.
76. Kumar, Research Methodology.
77. Bryman, Social Research Methods.
78. Korea Fair Trade Commission, 2013.
79. Korea Stock Exchange, 2012.
80. Financial Highlight of CJG, 2014.
81. Korea Fair Trade Commission, 2013.
82. Bryman, Social Research Methods.
83. CJ Group Brochure, 2015.
84. Cheil Jedang 40 Yeon Sa (CJ History for 40 years), 1993.
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86. Park, ‘Cooperation between Business Associations and the Government.’
87. CJ Group Brochure, 2015.
88. CJ Group Brochure, 2015.
89. Korea Fair Trade Commission, various years.
90. Kock and Guillen, ‘Strategy and Structure.’
91. Barney, ‘Firm Resource and Sustained Competitive Advantage.’
92. Griffin and Pustay, International Business.
93. Berger and Ofek, ‘Diversification’s Effect.’
94. Rowley, ‘The Changing Nature of Management and Culture in South Korea’.
95. Kahal, Business in Asia Pacific.
96. Kim, Business Groups in South Korea.
97. Colli and Larsson, ‘Family Business and Business History.’
98. Hofstede, ‘The Cultural Relativity of Organisational Practices.’
99. Cho and Yoon, ‘The Origin and Function of Dynamic Collectivism.’
100. Kim, Business Groups in South Korea.
101. Haggard, Pathways from the Periphery.
102. Kock and Guillen, ‘Strategy and Structure.’
103. Amsden and Hikino, ‘Project Execution.’
104. Kock and Guillen, ‘Strategy and Structure.’
105. Jun and Rowley, ‘Change and Continuity in Management.’
106. Rowley and Oh, ‘Business Ethics and the Role of Context’.
107. Rowley and Oh, ‘Relinquishing Business Ethics from a Theoretical Deadlock’.