Differences in CEO Communication Strategies between High- and Low-Performing Firms in the Global Auto Parts Industry

Yunseok Hong and Keuntae Cho ()
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Yunseok Hong: Graduate School of Management of Technology, Sungkyunkwan University, Suwon 16419, Republic of Korea
Keuntae Cho: Department of Systems Management Engineering, Graduate School of Management of Technology, Sungkyunkwan University, Suwon 16419, Republic of Korea

Sustainability, 2024, vol. 16, issue 8, 1-19

Abstract: This study focuses on how global automotive suppliers manage innovation by analyzing keywords in CEO messages. Given that CEOs significantly shape innovation strategy, the intricate dynamics of open innovation and the role of CEO characteristics in its adoption warrant further investigation. Accordingly, the research unfolds in three stages: (1) extracting keywords related to innovation highlighted in CEO communications, (2) contrasting the deployment of these keywords between high-performing and low-performing companies, and (3) deciphering the nuances of innovation management by interpreting the underlying meaning and structure of these keywords. This comparative analysis between top and bottom performers underscores stark contrasts in keyword emphasis. Through eigenvector centrality, mapping open innovation’s success factors pinpointed provision of resources and governance as pivotal in top-performing firms. Notably, the preferred keywords among leading firms reflect their current challenges and innovative management direction. Thus, to embody agile and visionary leadership in open innovation, CEOs should strategically incorporate and highlight keywords aligned with critical factors of open innovation in their communications. These insights offer valuable benchmarks for less successful firms aiming to refine their approaches to innovation management, vision, and strategy.

Keywords: CEO communication; innovation management; network analysis; text mining; auto parts industry (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2024
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