How do latecomer firms achieve catch-up through technology management: a comparative analysis

The catch-up of latecomer firms has been a topic of interest because it is closely related to the changes in industry leadership. The reason why some countries are more successful in catch-up is because of their increasing mastery of technology management (TM). Therefore, to ensure successful catch-up, it is imperative for latecomer firms to understand the TM practices and TM modes across national boundaries. This paper aims to reveal the differences in TM practices and TM modes between latecomer firms and forerunner firms. This paper collected data from Chinese firms and Korean firms as latecomers and forerunners, respectively, to examine the differences in TM practices and TM modes. The results show that latecomer firms place more emphasis on grasping the condition of firms’ equipment, understanding technology talents required by business, and completing files on technology information. While forerunner firms stress learning from other competitors, effective training, and constructing detailed technology information management system most. Furthermore, the relationship between TM and product innovation performance is more integrated for forerunner firms compared to latecomer firms. A key contribution of this paper is to reveal the differences in TM practices and TM modes between latecomer firms and forerunner firms, which enriches the catch-up literature from an international comparative perspective. As such, this paper is of great importance in broadening the understanding of how latecomer firms transform into global leaders.