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Technological Insurance: Investigating Potential of South Korea for Promoting Products Proposal


RAC Inc. considers South Korea to be the most suitable for international expansion due to the previous examination of technology in the country. Brief analysis of South Korea potential is necessary to define what subsequent preparation stages and measures should be taken to proceed with the international expansion.

Statement of Problem

The success of establishing strong market segment in the United States has become the major reason for expanding it to other regions. In order to define whether South Korea is the most suitable variant for expansion in terms of technological capabilities, specific emphasis should placed on evaluating the country as a possible alternative for producing slate tablets.

Background of Problem

In order to define the success of the proposed venture, attention should be given to the research and analysis of scientific and technological development in South Korea. In particular, the country has received a competitive advantage due to low-cost labor, as well as increased access to technical skills that are necessary for advancing technological equipment (Technological Landscape 60). Moreover, the government has created a great number of scientific institutions and has developed indigenous technology.

In addition, the South Korean authorizes have reformed the tax system to promote research and development in the country (Technological Landscape 60; Manyin 1). Strong governmental influence is also revealed through adopting new mechanism of technology advancement and innovation.

In particular, Kim and Jung assert, “the national government started technopark project to generate regional self-sustaining growth in 1997” (273). In fact, the technological growth and economic sustainability of South Korea is largely supported by further governmental investments.

Telecoms and Technology Report also focuses on the fact that “South Korea has one of the world’s highest broadband penetration rates, with optical-fibre connections accounting for almost all household connections” (3). Such a perspective contributes greatly to the analysis of technological potential of South Korea.

The evidence of strong economic recovery is also represented in Weber’s research. In particular, the scholar argues that the infrastructural investments and government’s engagement is indispensible for economic growth and development, as well as for promoting industrial profitability (Weber 610). Hence, the South Korea has a greater advantage over the economic policy in the United States.

Audiences

Gatekeeper: professor Toth is in charge of solving and investigating the problem.

Primary: managerial staff of RAC Inc. should evaluate the problem, as well as define the validity and reliability of research. They will also decide whether technological potential of South Korea is sufficient for introducing slate tablets to the market.

Secondary: consumer demand of South Korea is also an important dimension to be addressed. RAC Inc. should be aware of this component before expanding the market.

Auxiliary: employees of RAC should also be concerned with the market potential to be able to adjust to the new circumstance and introduce alternative decisions to the emerged challenges.

Watchdog: stakeholders of RAC, including environmental organizations and government should also be concerned with the oncoming changes.

Questions to Investigate

Governmental involvement

What information should RAC know about the economic peculiarities, as well as the extent to which government is involved into the economic activities?

What are other political, social, and cultural circumstance identifying the success of the venture?

Competition

How can RAC successfully integrate their new products to sustain advantage over other products and prevent the market resistant to the technology expansion?

What factors may prevent RAC Inc to benefit from introducing slate tablets?

Are there any other products that can become serious competitors to the proposed product?

Methods and References

In order to gather more information about the issue, it is highly important to address official websites, reports, and scientific articles dedicated to the analysis of economic and political landscape in South Korea. This is of particular concern to South Korea governmental sites.

The following list of sources should be useful for investigating the topic:

Lee, Ho-Chul. Korea’s Information and Communication Technology Boom, and Cultural Transition after the Crisis. Ministry of Finance and Economy. 2002: 1-40.

“Science and Technology Policy”. Ministry of Science and Technology in Korea. 2012. Web.

The resources used to examine the background of the problems can also be used to support the research and collect the necessary data. It can also serve for analyzing the technological landscape in the country.

Qualifications

In order to support the research and provide answers to the research problems, profound knowledge in technology, finance, economy, accounting, and marketing are essential. Exploring all these dimensions will allow to define the extent to which South Korea is ready for international expansion. Awareness of global environment problems is also necessary and, therefore, international relations is another important discipline to be learnt.

Work Schedule

Activity Total Time Completion Date
Gathering information 12 hours October 12
Organizing information 5 hours October 15
Writing and revising draft 7 hours October 16
Preparing presentation slides 10 hours October 17
Proofreading report 3 hours October 18
Rehearsing presentation 2 hours October 18
Delivering presentation 1 hour October 20

Call to Action

Scanning the environment is South Korea will allow the company to acquire a better idea of how the South Korean market differs from that represented in the United States. We are confident that the problem is worth further consideration because it influences significantly to economic and financial issues.

Works Cited

Kim, Ha-Young, and Chang Mu Jung. “Does A Technology Incubator Work In The Regional Economy? Evidence From South Korea.” Journal Of Urban Planning & Development 136.3 (2010): 273-284. Print.

Manyin, Mark E., Emma Chanlett-Avery, and Mary Beth Nikitin. “U.S.-South Korea Relations.” Congressional Research Service: Report (2012): 1. Print.

“Technological Landscape.” South Korea Country Profile (2012): 60-63. Print.

“Telecoms and Technology Report.” Telecoms Industry Report: South Korea 1 (2012): 3-11. Business Source Complete. Web.

Weber, Eric T. “Learning From Others: What South Korean Technology Policy Can Teach The U.S.” Review of Policy Research 25.6 (2008): 608-618. Print.

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IvyPanda. (2019, May 24). Technological Insurance: Investigating Potential of South Korea for Promoting Products. Retrieved from https://ivypanda.com/essays/technological-insurance-investigating-potential-of-south-korea-for-promoting-products/

Work Cited

"Technological Insurance: Investigating Potential of South Korea for Promoting Products." IvyPanda, 24 May 2019, ivypanda.com/essays/technological-insurance-investigating-potential-of-south-korea-for-promoting-products/.

1. IvyPanda. "Technological Insurance: Investigating Potential of South Korea for Promoting Products." May 24, 2019. https://ivypanda.com/essays/technological-insurance-investigating-potential-of-south-korea-for-promoting-products/.


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IvyPanda. "Technological Insurance: Investigating Potential of South Korea for Promoting Products." May 24, 2019. https://ivypanda.com/essays/technological-insurance-investigating-potential-of-south-korea-for-promoting-products/.

References

IvyPanda. 2019. "Technological Insurance: Investigating Potential of South Korea for Promoting Products." May 24, 2019. https://ivypanda.com/essays/technological-insurance-investigating-potential-of-south-korea-for-promoting-products/.

References

IvyPanda. (2019) 'Technological Insurance: Investigating Potential of South Korea for Promoting Products'. 24 May.

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