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KMID : 1142620190110010057
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Korea Aging Friendly Industry Association
2019 Volume.11 No. 1 p.57 ~ p.65
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Success Factors of Internationalization of Rehabilitation Medical Device Company: Focused on Manntel Co., Ltd.
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Jang Kyung-Bae
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Abstract
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Objective : In this paper based on traditional ideal and internationalization, International New Venture’s concept was analyzed. At the same time, from concept of International New Ventures (INVs), Man & Tel’s success case of overseas expansion was understood.
Method : Objective analysis was conducted on a International New Venture (INV), Man & Tel. Through focus group interview, overseas market entry patterns, financial statements, board materials, and internal corporate data were referenced. Also, in order to secure objective data on overseas exhibitions and overseas exports, the researchers observed through two participations.
Result : This study analyzed the factors that succeeded in internationalization of the venture business, Man&Tel as a single case study. We analyzed the progress of the business by examining the process of entering the overseas market through the process of Man&Tel, as a representative example of international new ventures (INVs). As a result of research and analysis, internationalization of Man&Tel’s most important factor was identified as entrepreneurial spirit. In addition, Man&Tel conducted the direct and indirect exports through the agency rather than the progressive advancement claimed in the previous studies. Moreover it was accompanied by high resource commitment. Man&Tel was selected as an export promising small and medium enterprise by Ministry of SMEs and Startups. As a result they were able to actively engage in overseas market and exported to 75 countries.
Conclusion : Man & Tel’s case of international expansion is considered as excellent case for companies related to Education and Rehabilitation that want to expand internationally.
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KEYWORD
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International New Venture Companies, Mind of CEO, Internationalization
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