Rising and thriving in the post COVID-19 era: a case study of COSMAX, a leader of the Korean cosmetic industry

Abstract

In this paper, we consider the impact of COVID-19 on Korean cosmetics firms. The research framework (i.e. OEM/ODM Business Model) shows sensing customer requirements, translating them through a fusion complex design lab, digital technologies (e.g. Big Data, AI, Supply Chain Technologies), and applying manufacturing capabilities for achieving sustainable competitive outcomes. It examines how digital technologies influence the ODM business model. The research methods include a literature review, an analysis of internal documents, and field interviews with top executives. It also focuses on the model’s response to the Fourth Industrial Revolution opportunities such as the IoT/AI. The case study covers both prior to the COVID-19 and post pandemic world contexts. We propose propositions based on our research model and discuss relevant lessons to other industries in terms of designing cross-functional creativities, implementing organizational flexibility, and achieving market expansion through operational speed and network partnerships.

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