• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.12 no.2
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• pp.31-40
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• 2017

This study validate effectiveness of Online Entrepreneurship Education based on PBL(Problem-based Learning) and flipped learning. This study reveals online education of entrepreneurship based on PBL and flipped learning method has positive effect on personal entrepreneurship, will to be an entrepreneur, and problem-solving skills. First, the results show that entrepreneurship education based on PBL and flipped learning can improve entrepreneurship more than a previous learning method. Second, PBL and flipped learning based online education affects will to be an entrepreneur in positive way. Experimental group who experienced problem solving activity and flipped learning has more will to be entrepreneur than control group who takes previous learning method. Lastly, PBL and flipped learning method based entrepreneurship education also has positive effect on personal problem-solving techniques. This results show that online entrepreneurship education based on PBL and flipped learning has positive impacts on entrepreneurship, will to be an entrepreneur, and improving problem-solving skills significantly.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.3
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• pp.127-139
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• 2023

During the process of preparing for and initiating a startup, startup entrepreneurs allocate a significant amount of time to developing a business plan. Within this process, the documented business plan serves not only as a roadmap for the venture but also as a communication tool for capital acquisition and internal team collaboration. However, is the business plan, meticulously crafted by entrepreneurs, actually effective in generating startup performance? To answer this question, this study empirically analyzed the impact of a business plan on startup performance. Additionally, it examined how the relationship between the business plan and performance changes based on the satisfaction levels of entrepreneurs regarding the business plan. Through the analysis, the study validated the influence of the completeness of the business plan and entrepreneurial satisfaction on startup performance, and derived implications. To conduct the empirical analysis, a survey was conducted among 150 entrepreneurs. Regression analysis was performed to examine the relationship between the completeness of the business plan and performance, and the sample was further divided into two groups: startups with less than three years of operation and startups with three or more years of operation, for secondary analysis. The analysis results revealed that the completeness of the startup's business plan has a positive impact on both financial and non-financial performance. Furthermore, it is observed that the entrepreneur's satisfaction with the business plan had a moderating effect on the relationship between the business plan and financial performance. Moreover, for startups that are less than three years old, the entrepreneur's satisfaction with the business plan exhibits a moderating effect on the relationship between the completeness of the business plan and non-financial performance. This study holds significance as it reaffirms the importance of business plan development as a means to achieve sustainable growth for early-stage startups and empirically validates its significance. It is expected that this study will provide valuable insights for future startup entrepreneurs to better understand the importance of business planning and contribute to reducing the failure rate of early-stage startups.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.19 no.2
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• pp.215-235
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• 2024

As artificial intelligence (AI) technology is recognized as a key technology that will determine future national competitiveness, competition for AI technology and industry promotion policies in major countries is intensifying. This study aims to present implications for domestic policy making by analyzing the policies of major countries on the start-up of AI companies, which are the basis of the AI industry ecosystem. The top four countries and the EU for the number of new investment attraction companies in the 2023 AI Index announced by the HAI Research Institute at Stanford University in the United States were selected, The United States enacted the National AI Initiative Act (NAIIA) in 2021. Through this law, The US Government is promoting continued leadership in the United States in AI R&D, developing reliable AI systems in the public and private sectors, building an AI system ecosystem across society, and strengthening DB management and access to AI policies conducted by all federal agencies. In the 14th Five-Year (2021-2025) Plan and 2035 Long-term Goals held in 2021, China has specified AI as the first of the seven strategic high-tech technologies, and is developing policies aimed at becoming the No. 1 AI global powerhouse by 2030. The UK is investing in innovative R&D companies through the 'Future Fund Breakthrough' in 2021, and is expanding related investments by preparing national strategies to leap forward as AI leaders, such as the implementation plan of the national AI strategy in 2022. Israel is supporting technology investment in start-up companies centered on the Innovation Agency, and the Innovation Agency is leading mid- to long-term investments of 2 to 15 years and regulatory reforms for new technologies. The EU is strengthening its digital innovation hub network and creating the InvestEU (European Strategic Investment Fund) and AI investment fund to support the use of AI by SMEs. This study aims to contribute to analyzing the policies of major foreign countries in making AI company start-up policies and providing a basis for Korea's strategy search. The limitations of the study are the limitations of the countries to be analyzed and the failure to attempt comparative analysis of the policy environments of the countries under the same conditions.

• Korea Trade Review
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• v.43 no.4
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• pp.177-217
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• 2018

The purpose of this study is to classify the types of internationalization strategies utilized by Korean ventures and to examine whether there is a significant relationship between these types and internationalization performances. Specifically we tested whether there is a good feasibility through empirical analysis of the study model constructed through the following process. As a criterion of typification, the capability of international entrepreneurship and the capability of effectuation of a venture were chosen, and a model in which those three types exist based on the capabilities is established. The characteristics of each type and the contents of internationalization strategy are explained and empirical analysis is conducted. We also test whether there are significant differences in internationalization performance for each type. As a result of the cluster analysis, we concluded that there are three types : pioneer, careful preparation and passive response. In addition, these three types have significant differences in the levels of performances of reputation in foreign markets and the accumulation of knowledge in international management. This implies significant differences among the performances of each type of ventures according to their internationalization strategy positions. Therefore, the type of venture should be considered when a venture establishes its internationalization strategy and governments set supporting policy for venture companies.

• Information Systems Review
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• v.23 no.3
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• pp.97-125
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• 2021

Blockchain is a core technology to solve personal information leakage and data management issues, which are limitations of existing Genomic Sequencing services. Due to continuous cost reduction and deregulation, the market size of Genomic Sequencing has been increasing, also the potential of services is expected to increase when Blockchain's security and connectivity are combined. We created our research model by combining the Technology Acceptance Model (TAM) and the Innovation Resistance Theory also analyzed the factors affecting the acceptance intention and innovation resistance of the Blockchain Based Genomic Sequencing Information Platform. A survey was conducted on 150 potential users of Blockchain and Genomic Sequencing services. The analysis was conducted by setting the four Blockchain variables: Security, transparency, availability, and diversity). Also, we set the Perceived Usefulness, Perceived risk, and Perceived Complexity for Technology Acceptance and Innovation Resistance variables and analyzed the effect of the characteristics of the Blockchain on acceptance intention and innovation resistance through these variables. Through this analysis, key variables that need to be considered important to reduce resistance and increase acceptance intention could be identified. This study presents innovation factors that should be considered in companies preparing a new Blockchain Based Genomic Sequencing Information Platform.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.19 no.1
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• pp.107-118
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• 2024

The purpose of this paper is to investigate the factors affecting digital entrepreneurship and digital innovation and the moderating effect of technology absorptive capacity. To achieve the research purpose, the contributing factors are set as technical characteristic (digital technology capability), organizational characteristics (digital learning capability and financial readiness), and institutional pressures (coercive pressure, mimetic pressure, and normative pressure). The research model and hypothesis are established based on the theoretical background of digital entrepreneurship, digital innovation, institutional pressure, and technology absorptive capacity. The proposed model is analyzed by targeting 104 companies. Smart Partial Least Square (PLS) 4.0 is utilized for deriving the study results. The results of hypothesis testing are as follows: First, digital technology capability, digital learning capability, financial readiness, and institutional pressure have a positive influence on digital entrepreneurship. Second, digital entrepreneurship has a positive impact on digital innovation. Finally, technology absorptive capacity has a moderating effect in influencing digital entrepreneurship on digital innovation. The results of this study emphasize the need for digital entrepreneurship in the era of the Fourth Industrial Revolution and digital transformation, and may provide strategic implications for companies that desire to achieve digital innovation through digital entrepreneurship.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.12 no.3
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• pp.65-74
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• 2017

There have been questions how entrepreneurs think, act and why individuals become entrepreneurs. The trait-based explanation of entrepreneurial activities has been main stream. However, the trait-based theory has been criticized because it assumes that entrepreneurial traits are inherited, stable and enduring over time. This research accepts the cognitive theory to see how entrepreneurs learn or accept others' values, how entrepreneurial perceptions of opportunity impact entrepreneurial actions and how individuals acquire the social legitimation of the formation of entrepreneurial activities. In order to capture the attitudes, activities and motivations of people who are involved in entrepreneurial activities, the author uses the GEM Korea 2016 data. The data from the Global Entrepreneurship Monitor(GEM) has been well known for the data to capture individuals early-stage entrepreneurial activities. This paper used the sample from the APS(Adult Population Survey) of the GEM which was completed by a representative sample of two thousand adults in Korea by the qualified survey vendor, with strict procedures and oversight by the GEM central data team. The hypotheses are tested with logit regression analysis to estimate the probability of the influence of perceptual variables such as individual perception in social learning, the opportunity recognition in the environment, and social legitimation in the entrepreneurial activities. Based on the results, individuals tend to have high entrepreneurial activities if individuals have high self-efficacy. Also, the existence of role models around the entrepreneurs encourages the individuals involve in entrepreneurial activities more however the perception of opportunity in the environment is not strongly associated with entrepreneurial activities. The media exposure of successful entrepreneurs is more important than others' perception of entrepreneurs on the desirable career option or respect from communities. This paper can contribute to the cognitive processes, particular perception about oneself, as well as perception which is impacted by a community or a society.

• Proceedings of the KAIS Fall Conference
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• 2010.05b
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• pp.803-806
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• 2010

저고용을 통한 고효율로 기업생산성을 추구하는 결과, 야기되는 고용의 불균형을 타개하기 위해 2007년 정부는 사회적 기업 육성법을 통해 사회적 기업을 장려하고 있다. 뿐 만 아니라 전 세계적 으로도 사회적 기업에 관련된 연구를 미국의 로버츠 재단, 영국의 Social Firms, EMES European Research Network 등이 중심이 되어 사회적 기업의 생존 전략과 사회적 자본 활용을 통한 발전방법을 모색하고 있다. 본 연구는 이러한 세계적인 추세에 발맞추어 사회적 기업 발전에 필요한 기업생존, 고용증대, 매출증대, 권한위임을 종속변수로 Granovetter Mark, Burt Ronald, Coleman James, Peter Witt, Andreas Schroeter, Christin Merz, Helen Haugh 등의 연구를 참고하여 독립변수인 네트워크다양성과 강도가 어떻게 작용하는지를 먼저 실증 분석하고 나아가 네트워크의 효율적인 운영을 통하여 사회적 기업 발전을 극대화시키는데 연구목적이 있다. 그리고 본연구의 대상은 2009년 현재 국내의 295개 사회적 기업 가운데 전문가의 추천을 받은 25개 회사로 이루어졌으며 SPSS 12.0으로 요인분석, 타당성, 신뢰성, 상관관계 등의 분석을 거쳐 다중회귀분석을 통하여 가설을 검증하였다. 검증의 결과 기업생존, 고용증대, 매출증대, 권한위임 전 과정에 네트워크가 필요하며 특히, 기업생존을 위해서는 네트워크강도에 관련된 요인을 매출증대를 위해서는 네트워크다양성에 관련된 요인을 잘 관리하고 유지 발전시켜야 함을 알 수 있었다. 끝으로 본 연구의 결과가 사회적 기업 창업을 준비 중인 국내의 많은 회사나 비영리법인, 사회단체가 계속기업으로 발전해 가기위한 사회적 자본 활용 전략에 많은 도움을 줄 수 있을 것으로 생각한다.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.12 no.4
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• pp.15-24
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• 2017

The major goal of this paper falls on developing new rational valuation model, to help companies and investors in the early stage of growth as to preparing and negotiating valuation of investment, by applying new reasonable discount indexes of calculating Discount Cash Flow in valuation of the start-up which has been recognized the critical fatal flaws of DCF with them. There are three specific studies done in this paper. First, this paper found the solid and viable bases of rational discount indexes as to applying DCF in valuing companies in the early growth stage with reviewing the previous studies including Berkus method, Scorecard Method, and Risk factor Summation method classified the most effective tools of valuing pre-revenue generating companies. Second, this paper quoted and analyzed the previous models and studies, so called, 'DCF-Prime' of applying DCF method as to value companies in the early growth stage by taking all risk factors innate to the companies in the early growth stage as the discount rate Beta coefficient. Third, this paper propose more viable and solid valuation models, so called, 'DCF-Plus'of combing all validated valuation factors in Berkus, Scorecard, and Risk Factor Summation methods into applying separate discount bracket after DCF Valuation over the companies in the early growth stage instead of taking them as the factors of discount rate, beta coefficient, like the previous model of DCF-Prime. DCF-Plus mainly developed in this paper will not only provide more rational valuation bases as to investment negotiation between companies and investors in the early growth stage, but also providing more accountable guidelines to companies in the early growth as to prepare investment raising and accelerating their company's value by themselves.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.13 no.6
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• pp.143-154
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• 2018

This study is intended to look into the effects of SCM(supply chain management) competency and process improvement on operational performance in small and venture companies. To achieve this, a survey was empirically carried out to 179 small and venture manufacturing companies. The findings showed that the SCM competency had a significant effect on the process improvement and operational performance in small and venture companies, adopting all hypotheses. And the process improvement had a significant mediating effect on the relationship between SCM competency and operational performance in small and venture companies, adopting hypothesis 4. As for the findings, strategic alliance, technology development, competency concentration as SCM competencies and starting preparation, detailed planning, implementation management as process improvements were factors that have positive effects on quality performance, cost reduction and profit increase as operational performances in small and venture companies. In other words, the better process and performance by the maximized SCM competencies require selective input strategies for strategic alliance, technology development and competency concentration in small and venture companies. And for its early application and settlement, the starting preparation and detailed planning of business process within small and venture companies need to be jointly put in action under clear company-wide goal management. Consequently, the expected performance can be maximized when strict management and implementation lead to these attributes.