Park24’s market creation and game-changing strategy: leveraging its strategic resources and capabilities

Purpose This paper aims to clarify how to start up and establish a new business by developing, combining and utilizing strategic resources and capabilities. Design/methodology/approach The paper studies the case of Park24 by examining how it created a market, changed the way to compete in the market and utilized its business model effectively to enter a new business. Findings The paper finds that Park24 has become a leading company in its core business by developing its new development staff, its parking sites nationwide, its brand and its IT system, and that it has built a profitable business model and successfully entered the car sharing business by making good use of that business model. Originality/value The case study suggests that Park24 started and developed its core business by accumulating strategic resources and capabilities and establishing a profitable business model, and that it utilized this business model effectively to dominate the market shortly after entering.