Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/274303 
Year of Publication: 
2021
Citation: 
[Journal:] Journal of Open Innovation: Technology, Market, and Complexity [ISSN:] 2199-8531 [Volume:] 7 [Issue:] 4 [Article No.:] 243 [Year:] 2021 [Pages:] 1-17
Publisher: 
MDPI, Basel
Abstract: 
This study aims to examine how unrelated diversification facilitate firm's growth and innovation. To achieve this goal, we investigate how Maeil Dairies has diversified through open innovation as the Korean dairy market struggles to maintain its size. Maeil Dairies, one of the top three conglomerates in the Korean dairy industry, has gone through different forms of diversification both related and unrelated to its core competencies. This study presents what the overlapping competencies are in its diversified products and businesses, analyzes the effectiveness of diversification in terms of relatedness, and examines the need for unrelated diversification. By analyzing the four diversification categories of the Maeil Dairies case and applying diversification theory, this study shows that although related diversification is more recommendable in most circumstances, unrelated diversification may present new opportunities and is necessary in order to avoid stagnation and falling behind.
Subjects: 
case study
core competencies
Korean dairies market study
open innovation
related diversification
unrelated diversification
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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