The Effects of Business Strategy and Organizational Culture of Korean Companies on Market Satisfaction: The Case of the African Market

Woohyuk Kim, Miae Lee, Chunghee Lee and Sungsoo Kim
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Woohyuk Kim: Department of Consumer Science, Incheon National University, Incheon 22012, Korea
Miae Lee: Institute for Euro-African Studies, Hanyang University, Seoul 04763, Korea
Chunghee Lee: Institute for Euro-African Studies, Hanyang University, Seoul 04763, Korea
Sungsoo Kim: Department of Political Science and International Studies, Hanyang University, Seoul 04763, Korea

Sustainability, 2022, vol. 14, issue 11, 1-10

Abstract: The purpose of our study was to investigate the relationship between business strategy, organizational culture, and market satisfaction. This study focused on Korean companies entering Africa and companies wishing to enter Africa and analyzed the satisfaction of companies with the African market focusing on internal environmental conditions. In terms of data, we collected 183 usable samples from companies. In order to analyze the data, we used structural equation modeling using AMOS 25.0. Based on the results, first, we can see that there is a positive relationship between business strategy and organizational culture. Moreover, there is also a positive relationship between business strategy and market satisfaction. Lastly, we found a positive relationship between organizational culture and market satisfaction. These study results give the following implications in establishing investment strategies for Korean companies entering Africa or willing to enter, which are in the midst of macroscopic environmental changes.

Keywords: business strategy; organizational culture; satisfaction; consumer; Africa (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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