Born-Global 기업의 해외진출 동기와 전략: 문화콘텐츠 기업의 사례

This study examined the determinants of the motives for early internationalization and the effective entry strategies in born-global firms. We developed six propositions through the case studies on the four successful new ventures in the Korean culture & content industry. With regard to the motives for early internalization, we suggested that firms are more likely to go abroad early if 1) managers pursue enacted opportunities rather than objective opportunities when they search for the market, 2) the design and production of their products can be easily modified to adapt to the environment, 3) the life-cycle of the product is relatively short compared to the initial investment for the launch of the product, and 4) the market power of the firm in the domestic country is weak. As to the effective entry strategies of born-global firms, we proposed that it will be effective 5) for firms to enter at first foreign countries where the demand size is big enough to acquire high cash flow in a short time, and 6) for firms to build strategic partnership with a firm in the host country at first and then to strengthen the degree of control power along with the increase of market power.