Product innovation factor analyses in Korean manufacturing enterprises

Abstract

Korea economy has been rapidly developed through manufacturing industry since 1960s. Current business environments is very complex and its uncertainty is also growing rapidly. Many manufacturing firms in Korea are trying to deploy an innovative product, but they are facing a difficulties for product innovation because of various complexity such as environment, organization, and customer. In this context, the purpose of this paper is to identify the product innovation factors in Korea manufacturing industry and to analyze a driving power and dependence power among them. And then, it finally shows findings and implications for a management point of product innovation variables reflecting industrial characteristics of three major manufacturing industry in Korea: chemicals, electronics/optical product and motor vehicles. This research uses interpretive structural modeling (ISM) and Cross-impact matrix multiplication applied to classification (MICMAC) methodologies, which is derived from product innovation data of Korea Innovation Survey (KIS).