• Journal of Distribution Science
• /
• v.9 no.2
• /
• pp.49-59
• /
• 2011

A franchise can be said to be the main method of distribution and marketing. It appears to be the future of the retail industry and is one of the world's fastest growing businesses sectors, as many policy reports and research results have acknowledged. Korea's franchise industry began in the 1970s, spread out into many areas (including food services, retail, and the service industry), and has grown by over 10% each year ever since. The industry's influence on the national economy becomes ever greater. Although the size of the franchise industry is expected to grow as it spreads and as the government expands its support, it has not yet attracted much academic interest. Research has so far been very fragmented. The main interest has been the relationship and conflicts between the head offices and the affiliates. No study has yet occurred on whether the concepts of satisfaction and intent to conclude a contract directly affect the success or failure of the affiliates. Few studies have empirically inquired into the demographic characteristics and abilities of the affiliates that significantly affect their results. Domestic franchise industries must prepare to leap from quantitative to qualitative growth. Most important is the need for affiliate headquarters and affiliates to build confidence between them. A friendly and reliable relationship between affiliate headquarters and affiliates will eliminate distrust from the franchise and maintain a healthy franchise system. This study suggests that current and prospective heads of affiliation should concentrate not on attracting affiliates but on investment and techniques of affiliate support. They should work on the reinforcement of brand power, the appropriate affiliate business environment, systematic education/training, taking burdens off the affiliate business persons, consolidating the relationship with the affiliate business persons, marketing mix factors (e.g. products, price conditions, logistics and shipping services, promotion, supervising and supervisor, operation procedures/processes, and material evidence); these all greatly affect the success or failure of the affiliate business. Supporting the affiliates is an important factor that enhances their results and satisfaction and consequently increases the positive recommendations to others and the ratio of recurrent conclusions of contracts, which ultimately generate the growth of the franchises. In addition, it is suggested that prospective franchise founders should make every effort to choose a good head office since the characteristics of the head office greatly influence the success of the affiliates. This study is significant in that it grasps the characteristics of the head office of affiliation and of the affiliates that influence affiliate results in ways not yet academically attempted.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.14 no.2
• /
• pp.47-59
• /
• 2019

Various studies have been carried out on the subject of entrepreneurship, which is required to create new businesses and organizations during the early process of startups based on innovative technologies and ideas. At the same time, the concept of organizational entrepreneurial orientation, which explains how to manage enterprises in the process of pioneering new products and markets, is drawing more and more attention for the purpose of continuously creating and maintaining a competitive edge of startups. This study focused on the relationship between entrepreneurial orientation and startup performance and the role of technological orientation and social capital. An empirical research was conducted on 144 different startup companies residing in startup supporting institutions. To evaluate the suitability of the research model, a PLS-based structural equation model was used. The research results are as follows: First, the entrepreneurial orientation of startups was found to have a positive effect on startup performance. Second, it was shown that entrepreneurial orientation had a positive effect on all three dimensions of social capital and technological orientation. Third, it has been shown that technological orientation and the cognitive dimension of social capital mediates the relationship between entrepreneurial orientation and startup performance. Through this, it was confirmed that entrepreneurial orientation directly affects startup performance, and it even influences the growth of startups by increasing technological superiority and social capital which is inherent in the network. Also, the research identified the need for additional research on the relationship between the strengthening of technological orientation and strategical orientation in startups. This study is expected to expand the discussion about social capital in the field of startup related research by affirming the role and importance of the cognitive system embedded in the network as well as the connectivity of networks, which has been already emphasized in previous startup related studies. Finally, the results of this study were reflected to present new practical implications.

• Journal of the Korea Academia-Industrial cooperation Society
• /
• v.10 no.12
• /
• pp.3804-3814
• /
• 2009

Because of the stagnancy of business activity and an excessive competition, the number of the people who quitting of one's business is increasing rapidly. Especially, government is further efforts on the upbringing for the small and micro business. But the ratio of cessation of business is increased gradually due to the influence of saturated market, consumer confidence shrinking, lack of funding and appearance of super supermarket. The another characteristic of growth rate for the cessation of business is the increase of the second foundation of business desire to succeed. But government's business transformation policy is inadequate. So, this study is willing to give an improvement of the government's support system through extraction actually and dependable data about business transformation and analysis to found a various gain model that continuous growth in small and micro business.

• Journal of the Economic Geographical Society of Korea
• /
• v.16 no.2
• /
• pp.293-309
• /
• 2013

Innovation clusters have different factors depending on different stages. Innovation clusters in Gyeonggi now are early stages, which are necessary to investigate factors so that they go into upstages. Silicon Valley is known as one of the best innovation clusters, which are now represented as the forms of related variety. The purpose of the paper is to investigate current situation of innovation clusters in Silicon Valley and suggest appropriate policies for the development of innovation clusters in Gyeonggi. In order to do this, we visit several representative institutions regarding infra, human-training, industry-academic-institution cooperation, start-up assistance and local government. Throughout the case study, we propose implications, and produce policy tasks for the development of cluster policy in Gyeonggi.

• The Journal of the Korea Contents Association
• /
• v.15 no.5
• /
• pp.560-569
• /
• 2015

Crowd funding is the method of raising money for a project, companies from a large group of people via the Internet, in return for future products or equity. Kickstarter is the largest and most successful crowdfunding site where creative projects raise reward based funding. Drawing on dataset of 80,267 projects with combined funding over $1.3b from 8.1m people, this paper suggest that backer select project based on their preference on the project, instead profitability of the project. It suggests that well-established platform and big size of network increases the chance of success of the project due to a ripple effect and blockbuster effects. Clear communication about the project's idea and goal is highly correlated with success. Regular communication on the project site, such as by constant progress updates, helps the success of the project. Equity-based crowdfunding is emerging as an innovative means of raising capital for businesses, so it has been receiving a lot of attention and expectation from the government and the market. The findings of this paper and others will help to get some understanding and insight into equity-based crowdfunding. However, Kickstarter differs from equity-based crowdfunding in the goals of the backers. Kickstarter's backers are not investors, they are contributors. To understand equity-based crowdfunding, the subject will need further study.

• Journal of Industrial Convergence
• /
• v.20 no.8
• /
• pp.1-13
• /
• 2022

Although the number of venture start-ups has increased significantly, it is difficult to judge the success or failure based on short-term performance alone. The survival of a company cannot be guaranteed if it does not show sustainable growth prospects. As a growth factor for venture companies, the level of technology commercialization capability and competitive strategies are considered important. Recently, the emergence of innovative business models is creating new opportunities and driving the growth of numerous venture start-ups. This study tried to investigate the mediating effect of business model innovation in the relationship between technology commercialization capability, competitive strategy and the growth prospects of venture companies. For this, empirical analysis was conducted using the original data of the Research on the Precision Status of Venture Firms 2021. As a result, production, manufacturing, marketing capability, cost leadership and product differentiation had a positive(+) effect on growth prospects. The mediating effect of business model innovation between all factors except for manufacturing capacity and growth prospects was verified. This study expanded the scope of research by shedding new light on the factors influencing the long-term growth prospects of venture companies and revealing business model innovation as a new mediating variable. In future research, it is necessary to develop an objective measurement tool and to identify differences according to industrial characteristics.

• Journal of Intelligence and Information Systems
• /
• v.28 no.3
• /
• pp.237-258
• /
• 2022

As the global market environment changes, the domestic ICT industry has a growing influence on the world economy. This industry is regarded as an important driving force in the national economy from a technological and social point of view. In particular, small and medium-sized enterprises (SMEs) in the ICT industry are regarded as essential actors of domestic economic development in terms of company diversity, technology development and job creation. However, since it is small compared to large-sized enterprises, it is difficult for SMEs to survive with a differentiated strategy in an incomplete and rapidly changing environment. Therefore, SMEs must make a lot of efforts to improve their own capabilities, and the government needs to provide the desirable help suitable for corporate internal resources so that they can continue to be competitive. This study classifies the types of ICT SMEs participating in government support programs, and analyzes the relationship between resources and performance creation of each type. The data from the "ICT Small and Medium Enterprises Survey" conducted annually by the Ministry of Science and ICT was used. In the first stage, ICT SMEs were clustered based on common factors according to their experiences with government support programs. Three clusters were meaningfully classified, and each cluster was named "active participation type," "initial support type," and "soloist type." As a second step, this study compared the characteristics of each cluster through profiling analysis for each cluster. The third step carried out in this study was to find out the mechanism of R&D performance creation for each cluster through regression analysis. Different factors affected performance creation for each cluster, and the magnitude of the influence was also different. Specifically, for "active participation type", "current manpower", "technology competitiveness", and "R&D investment in the previous year" were found to be important factors in creating R&D performance. "Initial support type" was identified as "whether or not a dedicated R&D organization exists", "R&D investment amount in the previous year", "Ratio of sales to large companies", and "Ratio of vendors supplied to large companies" contributed to the performance. Lastly, in the case of "soloist type", "current workforce" and "future recruitment plan", "technological competitiveness", "R&D investment", "large company sales ratio", and "overseas sales ratio" showed a significant relationship with the performance. This study has practical implications of showing what strategy should be established when supporting SMEs in the future according to the government's participation in the startup program and providing a guide on what kind of support should be provided.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.7 no.1
• /
• pp.153-164
• /
• 2012

Recently, as the one way of open Innovation management, Not a company's sole activity, but technology development and infrastructure buildup between companies for the synergistic effect of technological innovation, and technology transfer commercialization is needed. For a successful technology commercialization, it needs many experts like technology transfer agents, A technology transfer agent can be qualified with finishing its registration education course over 40 hours on the basis of the article 14 of law on the Promotion of Technology Transfer and the article 21 of the enforcement. After the 2010 revision of notice, the incorporated company, the Korea Technology Transfer agents has conducted the registration education. Until now, educations were conducted twice in January 2011 and November 2011. Accordingly, this study is necessary to improve the education service's quality and seek remedy through the in-depth evaluation of the present basic education service's quality. The results are as in the following. First, the service quality affect the satisfaction of the education service's quality positively. It is identified that the details of service quality of flexibility, reliability, responsiveness, conviction, and sympathy influence the education service satisfaction positively. Second, the education service satisfaction affects the attitude positively after completing the course. Third, service quality affects the attitude after completing the education course, Also it is identified that the details of service quality of flexibility, reliability, responsiveness, conviction, and sympathy influence the attitude after education completion. It is expected that this research may be used as the basic information for establishing education improvements and be helpful in establishing the technology transfer agents' registration education strategy. Through a continuous research, it is also expected that technology transfer markets are accelerated and qualified technology transfer agents are trained.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.10 no.6
• /
• pp.69-80
• /
• 2015

This can be promoted collaboration environment for the system and the system is very important for competitiveness, it is equipped. If so, could work in collaboration with members of the organization to promote collaboration what factors? Organizational collaboration and cooperation of many people working, or worth pursuing common goals by sharing information and processes to improve labor productivity, defined as collaboration. Factors that promote collaboration are shared visions, the organization's principles and rules that reflect the visions, on-line system developments, and communication methods. First, it embodies the vision shared by the more sympathetic members are active and voluntary participation in the activities of the organization can be achieved. Second, the members are aware of all the rules and principles of a united whole is accepted and leads to good performance. In addition, the ability to share sensitive business activities for self-development and also lead to work to make this a regular activity to create a team that can collaborate to help the environment and the atmosphere. Third, a systematic construction of the online collaboration system is made efficient and rapid task. According to Student team and A corporation we knew that Cloud services and social media, low-cost, high-efficiency services could achieve. The introduction of the latest information technology changes, the members of the organization's systems and active participation can take advantage of continuing education must be made. Fourth, the company to inform people both inside and outside of the organization to communicate actively to change the image of the company activities, the creation of corporate performance is very important to figure. Reflects the latest trend to actively use social media to communicate the effort is needed. For development of systematic collaboration promoting model steps to meet the organizational role. First, the Chief Executive Officer to make a firm and clear vision of the organization members to propagate the faith, empathy gives a sense of belonging should be able to have. Second, middle managers, CEO's vision is to systematically propagate the organizers rules and principles to establish a system would create. Third, general operatives internalize the vision of the company stating that the role of outside companies must adhere. The purpose of this study was well done in collaboration organizations promoting factors for strategic alignment model based on the golden circle and collaboration to understand and reflect the latest trends in information technology tools to take advantage of smart work and business know how student teams through case analysis will derive the success factors. This is the foundation for future empirical studies are expected to be present.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.16 no.2
• /
• pp.51-78
• /
• 2021

Followed by 'start-up', the theme of 'scale-up' has been considered as an important agenda in both corporate and policy spheres. In particular, although it is a term commonly used in industry and policy fields, even a conceptual definition has not been achieved from the academic perspective. "Corporate Growth" in the academic aspect and "Business Growth" in the practical management field have different understandings (Achtenhagen et al., 2010). Previous research on corporate growth has not departed from Penrose(1959)'s "Firm as a bundle of resources" and "the role of managers". Based on the theory and background of economics, existing research has mainly examined factors that contribute to firms' growth and their growth patterns. Comparatively, we lack knowledge on the firms' growth with a focus on 'annual revenue growth rate'. In the early stage of the firms, they tend to exhibit a high growth rate as it started with a lower level of annual revenue. However, when the firms reach annual revenue of more than 100 billion KRW, a threshold to be classified as a 'middle-standing enterprise' by Korean standards, they are unlikely to reach a high level of revenue growth rate. In our study, we used our sample of 333 companies (6.7% out of 5,000 'fastest-growing' companies) which reached 15% of the compound annual growth rate in the last three years with more than USD 100 million. It shows that sustaining 'high-growth' above a certain firm size is difficult. The study focuses on firms with annual revenue of more than $100 billion (approximately 120 billion KRW) from the 'Inc. 2020 fast-growing companies 5,000' list. The companies have been categorized into 1) Fast-growing companies (revenue CAGR 15%~40% between 2016 and 2019), 2) Hyper-growing companies (40%~99.9%), and 3) Super-growing (100% or more) with in-depth analysis of each group's characteristics. Also, the relationship between the revenue growth rate, individual company's strategy choice (market orientation, generic strategy, growth strategy, pioneer strategy), industry/market environment, and firm age is investigated with a quantitative approach. Through conducting the study, it aims to provide a reference to the 'Hyper-Growing Model' that combines the paths and factors of growth strategies. For policymakers, our study intends to provide a reference to which factors or environmental variables should be considered for 'optimal effective combinations' to promote firms' growth.