@article{ART003218756},
author={Lee, Sangho and Kwangmoon Cho},
title={Enhancing Business Performance of Venture Firms Based on Cost Leadership and High Value-Added Strategies Across Growth Stages},
journal={Journal of Internet of Things and Convergence},
issn={2466-0078},
year={2025},
volume={11},
number={3},
pages={183-193}
TY - JOUR
AU - Lee, Sangho
AU - Kwangmoon Cho
TI - Enhancing Business Performance of Venture Firms Based on Cost Leadership and High Value-Added Strategies Across Growth Stages
JO - Journal of Internet of Things and Convergence
PY - 2025
VL - 11
IS - 3
PB - The Korea Internet of Things Society
SP - 183
EP - 193
SN - 2466-0078
AB - The purpose of this study is to empirically analyze the impact pathways through which innovation capabilities, including development capability, manufacturing capability, and marketing capability, influence business performance via cost leadership strategy and high value-added strategy, based on the growth stages of venture firms. The growth stages are classified into start-up, growth, and maturity stages. The measurement instruments consisted of innovation capabilities, cost leadership strategy, high value-added strategy, and business performance. The results of this study can be summarized as follows. Depending on the growth stage of venture firms, different innovation capabilities had varying influences on cost leadership strategy and high value-added strategy, which in turn played a significant mediating role in determining business performance. In the start-up stage, technology-oriented development capability was identified as the key factor in achieving both cost advantage and value creation. As firms progressed to the growth and maturity stages, marketing capability became increasingly central. In addition, both cost leadership strategy and high value-added strategy showed significant mediating effects in the relationships between innovation capabilities and business performance. These findings confirm that the two strategies function as strategic tools to enhance competitiveness and improve sustainability in venture firms. Based on the findings, this study presents growth stage-specific recommendations for improving business performance and strengthening the competitiveness of venture firms in both domestic and global markets. It contributes to the strategic management of venture firms by demonstrating how aligning internal innovation capabilities with each stage of growth can help firms respond proactively to external uncertainties and achieve sustainable business performance.
KW - Development Capability;Manufacturing Capability;Marketing Capability;Business Performance;Cost Leadership Strategy;High Value-Added Strategy
DO -
UR -
ER -
Lee, Sangho and Kwangmoon Cho. (2025). Enhancing Business Performance of Venture Firms Based on Cost Leadership and High Value-Added Strategies Across Growth Stages. Journal of Internet of Things and Convergence, 11(3), 183-193.
Lee, Sangho and Kwangmoon Cho. 2025, "Enhancing Business Performance of Venture Firms Based on Cost Leadership and High Value-Added Strategies Across Growth Stages", Journal of Internet of Things and Convergence, vol.11, no.3 pp.183-193.
Lee, Sangho, Kwangmoon Cho "Enhancing Business Performance of Venture Firms Based on Cost Leadership and High Value-Added Strategies Across Growth Stages" Journal of Internet of Things and Convergence 11.3 pp.183-193 (2025) : 183.
Lee, Sangho, Kwangmoon Cho. Enhancing Business Performance of Venture Firms Based on Cost Leadership and High Value-Added Strategies Across Growth Stages. 2025; 11(3), 183-193.
Lee, Sangho and Kwangmoon Cho. "Enhancing Business Performance of Venture Firms Based on Cost Leadership and High Value-Added Strategies Across Growth Stages" Journal of Internet of Things and Convergence 11, no.3 (2025) : 183-193.
Lee, Sangho; Kwangmoon Cho. Enhancing Business Performance of Venture Firms Based on Cost Leadership and High Value-Added Strategies Across Growth Stages. Journal of Internet of Things and Convergence, 11(3), 183-193.
Lee, Sangho; Kwangmoon Cho. Enhancing Business Performance of Venture Firms Based on Cost Leadership and High Value-Added Strategies Across Growth Stages. Journal of Internet of Things and Convergence. 2025; 11(3) 183-193.
Lee, Sangho, Kwangmoon Cho. Enhancing Business Performance of Venture Firms Based on Cost Leadership and High Value-Added Strategies Across Growth Stages. 2025; 11(3), 183-193.
Lee, Sangho and Kwangmoon Cho. "Enhancing Business Performance of Venture Firms Based on Cost Leadership and High Value-Added Strategies Across Growth Stages" Journal of Internet of Things and Convergence 11, no.3 (2025) : 183-193.
