• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.5
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• pp.1-16
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• 2023

Due to imbalances in supply and demand within the labor market, start-ups have emerged as crucial players in the generation of high-quality employment opportunities, particularly in stagnant job markets. In response to this trend, governments are allocating substantial financial and human resources to initiatives that support start-up development. This has led to an increasing rate of engagement in start-up ventures across diverse age groups, not limited to younger individuals. Start-ups are enterprises focused on the commercialization of innovative ideas with the aim of achieving profitability in the marketplace. Research concerning the successful market integration of new products and the attainment of sustainable growth is pivotal. Such research is instrumental not only for the success of start-ups but also for realizing the broader social functions and contributions that these enterprises can offer. Previous research has often examined new product market-entry strategies, often referred to as new product marketing, particularly for large companies and SMEs. However, there is a gap in studies focusing on prototype marketing strategies specific to start-ups. Thus, this study aims to examine the impact of Pre-announcing marketing strategies on the market attention garnered by start-ups with low recognition and limited infrastructure, and how such attention contributes to their sustainable growth. Specifically, the study aims to uncover the causal relationship between information attributes like relevance, vividness, and novelty in building customer relationships, and their impact on purchase intentions influenced by performance expectations and hedonic motivations. In terms of Pre-announcing information attributes, relevance, vividness, and novelty positively influence performance expectations and hedonic motivations as outlined in the extended Unified Theory of Acceptance and Use of Technology (UTAUT2). These factors, in turn, positively impact the purchase intention for pre-announced new products from start-ups. These findings are expected to provide both theory and practical insights into the factors influencing market entry through the use of Pre-announcing marketing strategies for start-up new products.

• Journal of Digital Convergence
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• v.20 no.5
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• pp.599-608
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• 2022

There has been criticism that the government-led makerspace did not reflect the actual demand of makers, so there was a limit to performance creation. In this regard, the study aims to diagnose the current status and problems of makerspace and to suggest the implication to respond to policy demand. To this end, we analyzed the current status of makerspace by utilizing the government documents. Then, we conducted a survey of SMEs related to ICT devices that experienced makerspace, and analyzed their opinions on D·N·A technology demand, management difficulties, and governments' support policies. As results, the study proposed several improvement measures to upgrade makerspace as a digital conversion platform as follows. First, due to the nature of the existing industry for introducing D·N·A technology, there is a limit for companies to enter the market on their own, so comprehensive support from the government is needed. Second, it is necessary to establish and expand an empirical test bed for the development of new products and services so that various types of metaverse contents can be discovered and digital transformation convergence models of existing businesses can be derived. Third, by modifying the support method to operate the makerspace as a platform that implements the government-led start-up support policy, boldly transfer what the private sector can do well to the private sector. The participants of Industry·University·Institute Collaboration should freely share ideas and help the common problem be solved. Based on the problems and the findings for improvement, it is expected that the current makerspace would be upgraded to a digital conversion platform suitable for the demand of the field.

• The Korean Journal of Franchise Management
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• v.3 no.2
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• pp.20-38
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• 2012

After being introduced into franchises industry, franchise has made a phenomenal growth in a short time and a substantial contribution to job creation and economic revitalization. Nevertheless, franchise business operators failed a business or low profit because of a lack of information and indiscriminate foundation. Therefore the first object of this study is characteristics of franchise's factors on disclosure agreement in franchise associate website. second is examinations about casual relationship between factor and franchise performance with using Excel and SPSS 18.0 versions. The findings of present study were as follows. First, franchises manage small business mostly(financial data, scale so on) and franchise's type focused the food service industry. Specially, a business district select unprotected contract. Second, in franchise's factors, we could find statistically significant effect on annual average sales and annual average net profit. However growth rate of franchise don't have statistically significant effect. Third, we could find statistically significant difference on analysis both franchises' factors and financial data. In conclusion, we must consider of franchise industry environment and success effect on performance in starting one's business. Furthermore franchises plan ways for their sustained growth and protection of rights and interests. Finally business operator draw up their information and upgrade continuously for franchises industry growth. Discussion and theoretical and managerial implications of the results were described along with future franchise research suggestions.

• Journal of Venture Innovation
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• v.6 no.3
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• pp.61-72
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• 2023

In December 2020, the Fair Trade Act related to South Korea's separation of industrial capital was amended, and it was announced that the amendments would come into effect one year later, on December 30, 2021. The amendment's content involved breaking the previous principle of separating industrial capital from financial market penetration, allowing for the ownership of shares in general holding companies, small business startup investment companies, and technology business finance specialist companies. While the previous law was based on total issued shares' ownership, there were fluctuations in the subsequent trends of annual establishment and investment counts, as well as strategic investment counts of CVC (Corporate Venture Capital) before and after the law's amendment. CVC and IVC (Independent Venture Capital) are characterized differently based on their investment purposes, fund management types, and investment types. In this regard, the relaxation of the separation of industrial capital law is expected to have a positive impact on the future of the venture investment ecosystem and innovation ecosystem. In this study, we analyze the trends in the establishment count, investment count, and strategic investment count of domestic CVC from 2018, before the law amendment, to May 2023. Using 2021, the year the amended separation of industrial capital law was implemented, as a reference point, we examine changes in the trend. The analysis results indicate a significant increase in domestic CVC in 2021 compared to the previous year, along with an increase in investment counts, strategic investment counts, and the amount of investment in strategic investments. Based on these findings, this study suggests directions for further research related to future domestic CVC investment, strategic investment, and the activation of the venture investment market.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.15 no.3
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• pp.191-206
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• 2020

Although several studies have been conducted on unification and the life of North Korean refugees, there have been few studies comparing the characteristics of North Korean refugees with South Korean workers, in terms of human resources in business administration. By considering the limitations of these prior studies, this study analyzed whether there are differences in factors affecting organizational commitment and turnover intention through a group comparative analysis between North Korean refugees and South Korean workers. For a comparative analysis between the two groups, we recruited 145 workers from North Korea and 213 South Korea-born workers. We found the following results with a multi-group structural equation model. We confirmed the measurement homogeneity by ensuring that both groups were equally aware of the measurement tools affecting organizational commitment and turnover intentions. As a result of testing the homogeneity of measurement, we also confirmed that there was a significant difference in optimism between the two groups; optimism affects organizational commitment and among social supports, affectionate support and interaction support affect organizational commitment. Analyzing the path between the two groups, we first were able to find that optimism influenced organizational commitment for both groups, in relation to positive psychological capital. However, in terms of degree, South Korean workers were found to be strongly affected. Second, with regard to social support, we were not able to find that affectionate support and interaction support have a significant impact on organizational commitment for South Korean workers, while for North Korean refugees, we confirmed that both supports have a significant impact. Third, we were unable to find any differences between the two group, in terms of other sub-components of positive psychological capital (self-efficacy, hope, and resiliency) or the sub-components of social support (informational support, tangible support). These results suggest that companies or managers employing North Korean refugee workers need to create an organizational environment that allows them to perceive social support, especially affectionate support and interaction support.

• The Journal of Society for e-Business Studies
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• v.26 no.3
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• pp.55-66
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• 2021

The mobile application (APP) market is growing at an unprecedented speed. Amid such growth, the global platform providers are mandating exclusive in-app payments and charging 30% for platform commission fees. A serious tension has arisen between mobile global platform providers and local content providers. The present study attempts to analyze the domestic mobile game market and in-app payment commission fees. This study estimates the size of the domestic mobile game market and platform commission fees by directly using publicly available financial statements and footnote information of some representative listed mobile game firms. Also, the study analyzes the cost structures of the same sample firms and attempts to draw some implications on sustainable growths of the mobile game ecosystem. We estimated that, in 2019, the domestic mobile game market is around 4.9 trillion Won and the ensuing in-app payment commission fees market was 1.5 trillion Won. High market share firms display a proportional increase in in-app payment commission fees in relation to sales growth. This, in turn, makes the in-app payment commission fees a primary cost item far exceeding employee salaries and R&D expenses. During the same period, low market share firms generated a mere profit or experienced net loss. Analysis of the cost structure reveals that these firms are even more liable to higher in-app payment commission fee cost structure than high market share. Most constituents of the mobile game ecosystem are small business entrepreneurs. By employing a micro-level analysis, the study estimates that, in 2019, a representative median firm generates 530 million Won in sales. At the same time, it spends 190 million Won in employee salaries, 50 Won million in R&D and 190 million Won in in-app payment commission fees, respectively. In the absence of other cost items, these three cost items alone account for 73.8% of sales revenue. The results imply that a sustainable growth of the local mobile game market heavily depends upon the cost structure of such representative median firm, the in-app payment commission fees being the primary cost item of such firm.

• The Korean Journal of Franchise Management
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• v.2 no.2
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• pp.95-110
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• 2011

As global economic conditions are getting uneasy and polarization of our economy is intensified, the economic sentiment of small businesses is still low and unstable. The collapse of worldwide banking systems due to sub prime crisis in 2007 became the catalyst that shakes financial industries in each country in the world; the most sentiment people, small businesspersons, also have hard time facing survival way out, facing a great crisis. All organizing powers including manufactures, wholesales and retails are being gradually greater in mutual relations and dependence, and unstable factors about risks are also increasing. For exterior environmental and physical risk factors which cannot make small businesses survive themselves by developing ways out are eventually increasing, those who cannot cope with these factors face a great crisis. Although the government tries hard to overcome this situation conducting many ways, the effect does not continue. It is the real state that independent business markets including overall employment and establishing business have vicious cycle that they cannot be improved, due to increase of employment centered on short-term labors which lack durability in creation of employment and decline of household income. Recently, growth shows indication of slowdown because of multinational risk factors including financial crisis in each country in Europe, the death of Kim Jung-il, relationship with North Korea, and unstability of war situation in the Middle East Asia. Experts expect that growth rate will be about 4%, and independent business that ordinary people feel is still gloomy. It's reality that there is no adequate alternative for lack of jobs, unstable employment and a means of living after retirement. Also, the fact that large companies enter the market which is narrow and in the excessive competition should be an environmental factor that makes the situation worse. The business concept, a franchise, is the part we should think about whether it is the institutional solution that can guarantee independent businessmen stable life. Major companies are frightfully entering the market today, breaking the barrier to entry and shouting of a win-win with independent businesses. It's the small businesspersons who go through painful domestic recession, cannot predict the future and manage confusing and unstable independent business. It's very important to restore the domestic economy through wisely boosting consumption as soon as possible. It's also important to lead the situation by gathering powers of the government and related organizations, agonizing, suggesting solutions, and establishing accurate directions. The purpose of this study, therefore, is to suggest ways to strengthen competitiveness of small businesspersons by examining small business support policies which are currently implemented.