| The problem. Research reveals that the growth of small businesses owned by Korean immigrants may be constrained because of the lack of management skills. Korean businessmen face problems of managing their businesses in a foreign culture. This study identifies factors that contribute to management problems for Korean small businesses and establishes a framework for implementing and improving their management skills.;Method. This study was a descriptive-correlational study. Data were obtained about the perceptions and capabilities of Korean business owners and managers by use of the mailed survey methods.;Results. Three areas of management skills were examined: finance, marketing and personnel management. Korean small business owners were found deficient in financial planning, marketing promotion, and personnel management. Personnel management was the major deficiency, and hiring quality employees, delegating responsibility, and employee training were significantly weak. The use of financial, marketing and personnel management practices was linked significantly to performance. A positive correlation was found between the strength of management practices and higher profits.;There were significant correlations between the perceptions of Korean small business owners as to the usefulness of their education in Korea, the level of education completed in Korea and various management variables. Significant correlations were found between business experience and profits. Greater business experience resulted in higher profits. Traditional and contemporary management skills were compared. Results showed that Korean business owners may be in transition from traditional business management values to a more contemporary modern management style. This includes more emphasis on improving English-speaking ability, serving customers efficiently, gaining more American customers, and maintaining good relationships with suppliers.;Korean small businesses appeal stalled between "early growth" and "later growth." Collectively they are at the "survival" stage and must develop a platform for growth to move up the "success" stage. Most Korean small businesses managed to survive by virtue or hardwork, frugality and strong family ties, but they must change to step up to the "success" stage. To expand and further develop their small businesses, they need to improve their management skills in the area of financial planning, sales promotion, advertising, hiring, delegating responsibility, and employee training. Business management training programs should be designed for Korean small business owners. |
