Processes of Strategic Renewal, Competencies, and the Management of Speed

Volker Mahnke; John Harald Aadne

Processes of Strategic Renewal, Competencies, and the Management of Speed

Volker Mahnke
, John Harald Aadne

Universität St.Gallen

Publikation: Working paper › Forskning

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Abstract

We discuss strategic renewal from a competence perspective. We argue that the
management of speed and timing in this process is viewed distinctively when perceived through a cognitive lens. Managers need more firmly grounded process-understanding. The key idea of this paper is to dynamically conceptualize key activities of strategic renewal, and possible sources of break-down as they relate to the managment of speed and timing. Based on a case from the media industry, we identify managerial trade-offs and show how these can be influenced through managing subjective perception, strategic involvement and external knowledge-sourcing

Originalsprog	Engelsk
Udgivelsessted	Frederiksberg
Udgiver	DRUID - Danish Research Unit for Industrial Dynamics
Antal sider	44
ISBN (Trykt)	8778730589
Status	Udgivet - 1998

Navn	DRUID Working Paper
Nummer	98-20

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DRUID Working Paper No. 98-20Forlagets udgivne version, 102 KBLicens: CC BY-NC-ND

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abstract = "This paper addresses a puzzle: How is it possible that a country that has established a broad, export-oriented industrial base at record speed, remains vulnerable to the vicissitudes of international finance and currency markets? I argue that the Korean model that was tremendously successful for catching-up, has now reached its limits. The analysis centers on the co-evolution of industry structure and firm behavior. The focus is on the role of technological learning for the development of the electronics industry, a main carrier of Korea´s successful late industrialization. It is shown that a heavy reliance on credit and an extremely unbalanced industry structure have given rise to a narrow knowledge base and a sticky pattern of specialization. Catching-up has focused on capacity and international market share expansion for homogeneous, mass-produced products; very little upgrading has occurred into higher-end and rapidly growing market segments for differentiated products and services. Such truncated upgrading is one important reason for Korea´s vulnerability to the financial and currency crisis.",

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AB - This paper addresses a puzzle: How is it possible that a country that has established a broad, export-oriented industrial base at record speed, remains vulnerable to the vicissitudes of international finance and currency markets? I argue that the Korean model that was tremendously successful for catching-up, has now reached its limits. The analysis centers on the co-evolution of industry structure and firm behavior. The focus is on the role of technological learning for the development of the electronics industry, a main carrier of Korea´s successful late industrialization. It is shown that a heavy reliance on credit and an extremely unbalanced industry structure have given rise to a narrow knowledge base and a sticky pattern of specialization. Catching-up has focused on capacity and international market share expansion for homogeneous, mass-produced products; very little upgrading has occurred into higher-end and rapidly growing market segments for differentiated products and services. Such truncated upgrading is one important reason for Korea´s vulnerability to the financial and currency crisis.

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