• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.15 no.3
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• pp.121-132
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• 2020

University Students go through the development process of expertise in a single field based on theoretical knowledge they have learned in the university. Their plans to develop their careers could lead to a shift in business as they choose to find jobs and start businesses throughout their lives. The attitude of career decision making process has been changed from learning in the form of receiving and memorizing existing knowledge to learning in a more proactive and autonomous manner, and there is a growing need for informal learning. In this study, the informal learning is investigated to clarify the impact on the employment competency and entrepreneurial intention. New implications are deduced by the introduction of start-up business to the traditional approach based on the employment ability. In addition, the importance of team-work has been increased in the field of eduction and business. The impact on the employment competency and entrepreneurial intention is studied based on the satisfaction level of team-based learning. Survey was conducted on 163 university students in North Chungcheong Province from March to June 2019 and the results of the study were summarized as follows. First, it has been confirmed that the informal learning of university students has a significant impact on their employment competency, but not on their entrepreneurial intention. Second, the employment competencies have perfect mediating effect on the informal learning and the entrepreneurial intention. Third, the satisfaction on the team-based learning did not have a significant impact on the employment competency of university students by informal learning, but it had a positive effect on the dependency between employment competency and entrepreneurial intention. In these days, start-up education at universities has been strengthened. Throughout this research, the need for informal learning is confirmed to enhance the employment competency and entrepreneurial intention of the university education program. In addition, team-based learning is introduced actively to utilize a variety of information from the university students.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.5
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• pp.169-185
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• 2022

This study analyzed the effect of entrepreneurial competency on entrepreneurial intentions by using the entrepreneurial opportunity recognition as a mediator for middle and middle-aged office workers. The sub-variables of entrepreneurial competency are classified into management competency, technology competency, business competency and funding competency. 222 copies of questionnaires collected from middle-aged and elderly office workers residing across the country centered on the metropolitan area were used for empirical analysis. Based on a simple mediating model with singular mediator using SPSS v22.0 and PROCESS macro v4.0. was analyzed. As a result of the analysis, first, among entrepreneurial competencies, business competency and funding capacity were found to have a positive (+) significant effect on the entrepreneurial intentions, but management and technical competency did not have a significant effect. The higher the business competency and funding competency. Second, it was found that all of the sub-variables of entrepreneurial competency had a significant effect in the positive (+) direction on the recognition of entrepreneurial opportunities. It was confirmed that management competency has the greatest influence on the entrepreneurial opportunity recognition and technology competence has the smallest effect. Third, it was found that the entrepreneurial opportunity recognition had a significant effect on entrepreneurial intentions. The discovery of an opportunity recognizing opportunities for start-up is a prerequisite for entrepreneur. Fourth, it was found that the entrepreneurial opportunity recognition mediates between the management competency, technological competency, business competency, funding competency, and entrepreneurial intention. It suggests that opportunity discovery by recognizing opportunities for entrepreneurship is a prerequisite for start-up. As implications of this study, it suggests that in order to inspire middle-aged and elderly office workers to start their own business, it is necessary to have indirect experience with education and to establish and promote a government support system for financing.. Second, It suggests that education on leadership and organizational management is particularly necessary to strengthen the opportunity recognition. Third, it suggests that the discovery of opportunities to recognize opportunities for start-up is a prerequisite for entrepreneur. Therefore, it is necessary to prepare a manual and conduct training on opportunity search, recognition, evaluation, and utilization according to the stage of opportunity development. Fourth, it suggests that in order to strengthen the intention to start a business, ALso, it is necessary to manage both the entrepreneurial competency and entrepreneurial opportunities recognition at the same time. By presenting the practical directions that can be given differentially, we intend to contribute to the provision of practical directions and policy establishment for the promotion of entrepreneurial activities of office workers who can give vitality to the ecosystem.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.10 no.3
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• pp.39-49
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• 2015

Thus this study looked into existing literature focusing on generalities, and after literature studies, hypothesis was set up to solve the problems in the study. According to literature examination, self employed consulting was found to be comprised of four areas: awareness, reliability, satisfaction, and utilization, while consulting could be divided into four customer perspectives: customer, financial, internal processing, and learning and growth. An empirical study was conducted to verify the causal relationship between these causes, and we describe the findings of the study on the business management performance pursuant to self employed business consulting as follows: In this study, we examine an overall business management performance measurement by adopting the four variables of self employed business consulting, and enhance the chance of success by having systematic access to business establishment. In conclusion, in order to increase the success rate of the small business start-up, it is important to choose such items that fit the founder's experience and the characteristics of the business zone, and a successful founding of a business will be accomplished only when sufficient funding is combined with successful running, therefore, most importantly, striking a balance between the factors should start with the founder as the center, and there must be professional business knowledge and technical assistance by the business start-up support agency.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.10 no.1
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• pp.13-21
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• 2015

To determine the effect of employment stability by business incubator manager on the service level and management performance by new businesses, the survey of 215 businesses at 50 business incubator centers over the country was conducted. This study is to confirm that employment stability by business incubator manager is one of significant variables to support growth of new businesses. As a result of study, with respect to the effect of employment stability by business incubator manager on the supportive service level and management performance by new businesses, the group with higher employment stability by manager revealed statistically more significant effect than the group with less did, and the group with higher employment stability showed higher manager performance as well. Furthermore, as a result of analyzing the relationship between supportive service level and management performance and performance by manager, as performance by manager is higher, the service satisfaction and management performance by new businesses were higher. This indicates that to support successful new business by the business incubator, the center shall ensure employment stability of a manager to establish the condition of stable support for new businesses, and that through enhancement of professionalism by a manager, the foundation to support growth of new businesses shall be prepared as well.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.15 no.5
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• pp.113-127
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• 2020

Based on the social exchange theory and innovation diffusion theory, this study is to identify the correlation between factors influencing investor's funding intention in crowdfunding and to analyze moderating effect of trust in the relationship of shared value, communication and individual innovation. The purpose of this study is to consider the funding trends of crowdfunding investors from a personal point of view through the results of the study and to help fundraiser of crowdfunding establish specifically strategies for financing. In order to conduct empirical analysis, an online survey was conducted on people who had participated in crowdfunding, and a total of 228 questionnaires were collected and a total of 186 responses were finally analyzed, excluding outliers. For data analysis, structural equation model analysis was conducted using SPSS 26.0 and Smart PLS 3.0. The results of this study showed that shared value in the relationship between fundraiser and investors has a significant effect on the perceived risk. High level of communication between fundraiser and investors showed positive effects on the level of commitment of the crowdfunding project and the innovation of the individual investor. And commitment had a positive effect on the funding intention. According to the results of this research, trust has moderating effect only in relationship between shared value and perceived risk. It is significant that investors share the value of fundraiser together is a motivation factor to fund in crowdfunding and an opportunity to recognize the risk. Through this study, it is expected to utilize them in establishing strategies for start-ups and marketing plans to raise funds through crowdfunding and to empirically identify factors influencing the funding intention through individual levels of crowdfunding investors.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.14 no.2
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• pp.105-118
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• 2019

New manufactural innovation was generated with combination with Do It Yourself(DIY) culture and Information and Communication Technology(ICT). It led people to make their creative idea in real things and share them. This social movement has been called as 'Maker' culture. As maker culture was developed, the places named 'Makerspace' with high-tech equipment and sharing environment have been widely spread and gotten spotlight. Futhermore, makerspaces have been diffused rapidly in Korea; because of its importance for the fourth industrial revolution. However, the operation of makerspaces is not matured as much as its popularity, so problems occurred in operating aspects. The number of related studies is not enough to foster domestic maker culture in Korea. Of that, studies on operation of makerspaces were limited and the quantity of survey sample was insufficient. Therefore, firstly, in this study, operation elements of makerspaces were extracted by literature review. And, survey for examining the extracted elements was conducted to four policy makers and researchers, four makerspace operators and four makers. Final survey was carried out by Importance-Performance Analysis(IPA) method to fifty recipients composed of policy makers and researchers, operators, and makers. In result, importance located above performance in every elements and in-depth interview was followed to understand domestic surroundings and suggest way to invigorate makerspaces in Korea. The suggestion shows as follows. First, online and offline platform for makers should be expanded; second, makerspace should connect private sponsorship with makers or their projects; third, policy direction has to be improved from venturing business to diffusion of maker culture; fourth, basic maker education should be enlarged.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.16 no.2
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• pp.143-152
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• 2021

Recently, universities are being requested to educate a wider range of technical and social skills in order to respond to the government's policy for promoting youth employment and the industrial demand arising from social changes. Accordingly, field practice at universities is being further strengthened. It is important to analyze whether the work experience and information that students gained through field practice can improve their confidence in their career path, and can serve as a motive for not only employment but also start-up after graduation. In this study, the motivational aspect which leads to action by improving students' confidence in their career path is investigated. In addition, the influence of field practice experience on employability and entrepreneurial intention is also analyzed by setting a self-directed career attitude as a variables. The results of this study are as follows. First, the field practice experience of college students has a significant effect on employability, but does not directly affect their entrepreneurial intention. Second, it is confirmed that the higher the self-directed career attitude of students with experience of field practice has a positive (+) effect on the employability. Third, the higher the self-directed career attitude has also a positive (+) effect on entrepreneurial intention. This study shows the influence of field practice on employability and entrepreneurial intention beyond the limit of the existing research that was divided into employment and start-up. Theoretical basis for analyzing whether universities can achieve practical results simultaneously in government policy for employment and start-up is also provided.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.4
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• pp.73-86
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• 2022

Interest and investment in agri-food ventures is increasing worldwide. Agri-food venture startups are also increasing in Korea, but there are constraint factors due to industrial characteristics, and infrastructure and investment for growth are insufficient. This study confirmed the effect of technology commercialization capability and competitive strategy on the growth prospects of agri-food venture companies and the mediating effect of business model innovation. And, through comparison with previous studies, the industrial characteristics were identified by confirming the difference between all venture companies and agri-food ventures. For this, only agri-food ventures data were extracted from the original data of the Research on the Precision Status of Venture Firms 2021. And empirical analysis was conducted. As a result, manufacturing capability, cost leadership and product differentiation had a positive(+) effect on growth prospects. The mediating effect of business model innovation between manufacturing capacity, product differentiation and growth prospects was verified. Through the research results, factors affecting the long-term growth prospects of agri-food ventures were identified in consideration of industrial characteristics. In addition, practical implications in connection with business model innovation of agri-food ventures were presented. In future research, it is necessary to develop an objective measurement tool and to conduct a detailed analysis according to business history and company size.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.11 no.5
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• pp.77-90
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• 2016

This study is to examine the importance of site selection and service quality in franchise business as food service franchise became one of the fastest-growing service industries today. The chief finding of this study is as follows: First, a survey in locational and service quality factors affecting food service franchise shows that responders are more concerned with hygiene and visibility of the store than proximity and transportation advantages which reflects low statistical significance, thus the distance did not seem to be a big problem for the responders in the context that they mostly visit nearby food franchise. Second, the examination of the influence by the service quality factors and customer satisfaction shows significant positive relation with customer response, speed and accuracy, and accuracy factors which reveals that the responders prefer prompt response and swift judgment toward the customer's needs and expectations, professional knowledge services to the credibility factors in which little correlation with the customer satisfaction were found. Third, the examination of the influence by the service quality factors, locational factors, and re-visit reveals that customer response and specialty showed statistically significant correlation with intention of WOM (Word of Mouth) and revisit, which suggests that swift judgment and response toward the customer's needs and expectations, professional knowledge services is of great importance to both customer satisfaction and revisit. The study on the aspects of locational and service quality factors affecting franchise industry's customer satisfaction was conducted as above, an investigation in both factors' influence on the customer satisfaction was made, and based on the results of the analysis, this research seeks an optimal operation strategy of a franchise business. Food service franchise are relatively very competent to business adminstration and reaction capability to consumption changes due to the already established market, and there are stores springing up everywhere inspired by the founders who are too confident of their success in the franchise business. However, it is necessary for the franchise beginners to figure out a zone oriented, regular customer oriented business strategy than just complying with the head office manual. Owing to an increasing trend of opening medium to large sized stores and investments in the wake of converting to multiple business type Korean food franchise, there is growing need to set up new concept of store development and operational management strategy in order to overcome the excessive competition and limited sales volume of the old-fashioned small sized, small capital franchise stores. Furthermore, as most business category of food service franchise serve very similar menus, from a product differentiation point of view, it is required to map out flexible sales concept including the adoption of competitive and low-price strategy. In conclusion, as is shown in the analytical research, the customers' optimal choice fluctuate over their preferences like customer convenience and circumstances rather than insisting on specific brand, thus it will be necessary for the franchise stores to draw up aggressive strategy and planning in running food service franchise to maximize their profits.