Abstract
This study assessed firm capabilities as critical resources used by Korean apparel firms to achieve sustainable competitive advantages using Rangone's resource-based approach to small- and medium-sized enterprises' (SMEs) strategy analysis (Rangone, A., 1999. A resource-based approach to strategy analysis in small-medium sized enterprises. Small Business Economics, 12 (3), 233–248). It also compared the similarities and differences in firm capabilities between large firms and SMEs in the Korean apparel industry. Content analysis of Web-based communication data and multivariate analysis showed that a total of 15 firm capabilities emerged under the three SME capability categories: innovation, production and market management capabilities. In addition, compared to large firms, SMEs seemed to lack the capabilities to emphasise integrity/honesty, to offer quick response, and to receive government awards. The findings may help firms in other countries whose apparel industries are currently undergoing a similar phase in the life cycle by allowing these firms to prepare for ‘what will come next’. The study findings may also help government agencies provide relevant and necessary support for SMEs.
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