Research Reports
Strategies of Successful CEOs in Agricultural Business
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AuthorKim, Youngsaing
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Publication Date2005.12.01
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Original
These case studies have been operated to figure out the strategies of the successful CEOs in agricultural business through performing a series of case studies of successful agricultural firms. Five focused case-studies are presented.
The focuses of these case studies are how the organizations’ CEOs manage 1) strategic thinking and entrepreneurship, 2) broad networking including other CEOs for learning and sharing information, 3) human resource centered strategic formulation, 4) pioneering the blue ocean in agricultural business. At the same time, leadership and organizational matters are focused in order to pursue how the CEOs develop the strategies, and achieve their competitive advantages through dealing with environment surrounding the organizations, internal resources and their own competencies, as well as they avoid various risks and get over crises.
The findings as follows:
Firstly, the CEOs tends to find out new markets, items and resources rather than compete existing markets, items and resources with other competitors. They urges themselves to produce something new with their creative capability. The innovative attitude penetrates the organizations' management process and results. The strategic thinking is necessary to align people, organizational vision and direction for resource distribution with a harmonious way. They are substantially open to any changes in environment which might be related to their business.
Secondly, the CEOs look for a way of strengthening a network composing economic actors playing different roles in the industry. The networking would help them reduces transaction cost, and avoid risks because of sharing information and resources among them. They would learn fast from each other, and contradictorily compete for better performance. Therefore, The CEO's ability for networking is fundamental.
Thirdly, They argue that the top strategic priority should put on human resource development and management. They believe that the only way of revitalizing agriculture comes from creative managers who dare to challenge the limitations choking agri-business up. Developing their core competency through continuous learning is necessary to remain competitive.
Finally, the items the CEOs chose were quite different from the traditional items. The innovative agri-business CEOs have little interest on the traditional items or markets in which they are supposed to compete with other competitors to death. The kind of competitive market are called as the red ocean because of competitors' breeding. They realize that they need to look for or create the blue ocean in which they do not need to compete because the blue ocean is almost limitless. They look for different blue ocean in agri-business fields. The blue ocean does not accidentarily occur, rather disclose to whom have innovative attitude equipped with open mind.
Researchers: Young-Saing Kim
E-mail Address: yk281@krei.re.kr
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