The K-Strategy: strategic social capital for urban competitiveness

Abstract

Social capital is a key factor of knowledge-based processes, contributing in particular to urban competitiveness, which globalization has put in focus. In spite of this, such fundamental aspects of social capital as norms and values have largely escaped the focus of strategic management. This paper aims to show that the K-Strategy framework encapsulates social norms and personal values strategically engineered by South Korea in order to industrialize successfully. We draw on the existing literature on the engineering of norms and values in South Korea and their contribution to that country's economic success. We find that the Speed, Diligence, and Goal-orientation sub-dimensions of K-Strategy capture important components of South Korean social capital. Particularly, Diligence was the object of strategic implementation by the South Korean government and directly contributed to South Korea's economic success. Our findings do not cover all the dimensions of the K-Strategy, are limited to a single country, and do not provide specifically urban linkages. However, they support the K-Strategy framework as a valid strategic approach to social capital, generally viewed in the business literature as the outcome of exogenous processes.

Keywords:

• strategy
• K-Strategy
• urban competitiveness
• social capital
• South Korea

Notes

1. 21–24 months since 2010.

2. Translated from Korean.