Throughout the last several decades, Korean companies have become strong global competitors in a wide range of manufacturing industries. How did they achieve this exceptional performance? The Evolution of Tiger Management uncovers the secret of their success through a comprehensive analysis of Korean-style management. It explains how it has developed, why it works so well, what non-Koreans can learn from it, and what Korean companies need to do to stay competitive in the future.
This book is an extended and significantly updated new edition of Tiger Management: Korean companies on world markets (Routledge, 2012). It tells the remarkable stories of how Korean firms, seemingly coming from nowhere, have successfully challenged their Western and Japanese competitors globally. A new chapter highlights the rise of Korean venture firms and start-ups. Next, the essence of Tiger Management is analyzed by showing that it consists of an effective combination of business strategy, leadership, and human resource management practices. Finally, the evolution and future of Tiger Management is discussed by showing how Korean companies have adapted to changes at home and abroad, and how non-Korean companies can adopt Tiger Management. A new final chapter discusses the way forward for Korean companies.
Table of Contents
Part I: Introduction
1. Tiger Management: The growth and competitiveness
of Korean Firms
Part II: The Rise of Korean Companies and Tiger Management
2. The seeds of Tiger Management: foundations of Korean capitalism
3. Emerging Tigers: the early growth stages
4. Globalizing Tigers: Korean companies entering the world markets
5. Struggling Tigers: The Asian financial crisis
6. Revitalized Tigers: Korean companies in the twenty-first century
7. New Tigers: Korean venture firms and start-ups
Part III: Cornerstones of Tiger Management
8. Tiger strategy: how Korean companies compete
9. Tiger leadership: how Korean executives lead their companies
10. Recruiting, training and rewarding Tiger employees: Korean style
human resource management
Part IV: The Evolution and Future of Tiger Management
11. Tiger Management in the world: meeting the challenge of globalization
12. Dynamic Korea: domestic challenges for Tiger Management
13. Adopting Tiger Management: lessons for non-Korean companies
14. Advancing Tiger Management: the way forward for Korean companies
Martin Hemmert is Professor of International Business at Korea University in Seoul. His research focuses on comparative management systems, innovation systems and technology alliances in East Asia. He has published seven books and more than 30 articles in international peer reviewed journals.
'Martin Hemmert’s The Evolution of Tiger Management represents a major step in furthering our understanding of business practices and management strategies in one of the global economy’s true superpowers. The book is well researched, authoritative, impartial, and interesting to read. It provides an in-depth look into how Korea’s major firms—and many of its new start-ups—compete and win. This is a must-read for anyone interested in studying international business.' — Richard M. Steers, Emeritus Professor of Organization and Management, University of Oregon, USA
'This new version of the original excellent book is to be welcomed and the author congratulated as several new contributions to the field of the study of Korean management with relevance to the wider global economy are made. These contributions are both in terms of the place in the international environment and global practice of Korean-style management, as well as specific areas within it, such as Korean human resource management.
The book traces the emergence, development and use of what is calls ‘Tiger Management’ with its key features of ambition, aggressiveness, resilience, strong leadership, speed and flexibility. The book also not only updates the original content, but usefully expands it from the more traditional focus on manufacturing to cover some less covered and newer sectors, such as venture firms and start ups.
This new book will help put Korean management more on the world stage, both as an interesting model in its own right and one that is not only sustainable, but also perhaps one with possible elements to be used by managers elsewhere. As such, this book and its examples will help provide a useful counter-foil to the more traditional narrow minded and ethnocentric views of the need for Asia more generally to change to use global best practices from the West.' — Professor Chris Rowley, Kellogg College, University of Oxford
'This book thoroughly examines the dynamics of Korean business practices and structures of Korean chaebuls with recent developments of Korean economic system. It discusses a wide range of issues incorporating historical, socio cultural, institutional, as well as economic characteristics of Korea. It also provides numerous success and failure cases of Korean business strategies and management. This book is recommended not only for academic researchers and instructors but also for practitioners and government officials who are interested in Korean business and economy.' — Mannsoo Shin, Professor, Korea University Business School
'Within a short time period, Korean companies such as Samsung and Hyundai have become world-leading companies. This book is an extremely useful resource for managers and researchers to better understand how Korean companies have been able to achieve this remarkable feature. The chapters of this book provide a number of important insights about the internationalization, business strategies, leadership, and human resource management that contribute to the success of Korean companies.' — Fabian Jintae Froese, Chair Professor of Human Resource Management and Asian Business, University of Goettingen