Evolution of the Mobile Ecosystem and the Take-off of a Small Giant: A Case Study on the Innovation of a Smart Phone Components Supplier
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Purpose: Mobile phone manufacturing companies are experiencing the evolution of business ecosystem; therefore they need to adjust their strategies in accordance with the key players in the ecosystem. This paper investigates how a smart phone speaker module supplier in South Korea named Bujeon Electronics, has developed new products successfully. Design/methodology/approach: This study adopts a case analysis in order to get a deeper understanding on the mobile ecosystem and how the players in the ecosystem interact with each other to make a better outcome. The authors reviewed the literature on business ecosystem and innovations in SMEs to summarize the key success factors of the innovations. Then, they interviewed the top management of Bujeon Electronics Co., LTD, a South Korean smart phone speaker module supplier to examine how well the success factors explain the case. Results/findings: The findings show that five out of nine success factors in new product development presented by Cooper and Kleinschmidt (1995) were valid in the Bujeon Electronics case. The critical success factors of Bujeon Electronics Co.,LTD could be derived by dividing them into two aspects. Another success factor came from the ecosystem view. Managing a close relationship with core companies (i.e. the device manufacturer in this case) to promote formal and informal exchanges of new ideas, and getting trust from core companies by giving prompt feedback and adequate technical support were the most important success factors of the supplier. Research implications/limitations: This study suggests that the success of an innovation is not only explained by the internal factors but also external factors. When a company belongs to a rapidly changing ecosystem its strategic flexibility and ability to manage a close relationship with core companies in the ecosystem are critical elements to success. Future work/research: The success factors of SMEs in a business ecosystem should still be validated using large data sets in the future research. Originality/value: This study provides ideas to make a successful innovation in a rapidly changing business ecosystem.
Abstract
Purpose: Mobile phone manufacturing companies are experiencing the evolution of business ecosystem; therefore they need to adjust their strategies in accordance with the key players in the ecosystem. This paper investigates how a smart phone speaker module supplier in South Korea named Bujeon Electronics, has developed new products successfully. Design/methodology/approach: This study adopts a case analysis in order to get a deeper understanding on the mobile ecosystem and how the players in the ecosystem interact with each other to make a better outcome. The authors reviewed the literature on business ecosystem and innovations in SMEs to summarize the key success factors of the innovations. Then, they interviewed the top management of Bujeon Electronics Co., LTD, a South Korean smart phone speaker module supplier to examine how well the success factors explain the case. Results/findings: The findings show that five out of nine success factors in new product development presented by Cooper and Kleinschmidt (1995) were valid in the Bujeon Electronics case. The critical success factors of Bujeon Electronics Co.,LTD could be derived by dividing them into two aspects. Another success factor came from the ecosystem view. Managing a close relationship with core companies (i.e. the device manufacturer in this case) to promote formal and informal exchanges of new ideas, and getting trust from core companies by giving prompt feedback and adequate technical support were the most important success factors of the supplier. Research implications/limitations: This study suggests that the success of an innovation is not only explained by the internal factors but also external factors. When a company belongs to a rapidly changing ecosystem its strategic flexibility and ability to manage a close relationship with core companies in the ecosystem are critical elements to success. Future work/research: The success factors of SMEs in a business ecosystem should still be validated using large data sets in the future research. Originality/value: This study provides ideas to make a successful innovation in a rapidly changing business ecosystem.
참고문헌 (16)
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