• Journal of the Korean Operations Research and Management Science Society
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• v.41 no.3
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• pp.1-21
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• 2016

The Markowitz portfolio selection model uses estimators to deduce input parameters. However, the estimation errors of input parameters negatively influence the performance of portfolios. Therefore, this model cannot be reliably applied to real-world investments. To overcome this problem, we suggest an algorithm that can exclude stocks with large estimation error from the portfolio by applying a tracking signal to the Markowitz portfolio selection model. By calculating the tracking signal of each stock, we can monitor whether unexpected departures occur on the outcomes of the forecasts on rate of returns. Thereafter, unreliable stocks are removed. By using this approach, portfolios can comprise relatively reliable stocks that have comparatively small estimation errors. To evaluate the performance of the proposed approach, a 10-year investment experiment was conducted using historical stock returns data from 6 different stock markets around the world. Performance was assessed and compared by the Markowitz portfolio selection model with additional constraints and other benchmarks such as minimum variance portfolio and the index of each stock market. Results showed that a portfolio using the proposed approach exhibited a better Sharpe ratio and rate of return than other benchmarks.

• Information Systems Review
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• v.5 no.1
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• pp.19-32
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• 2003

This paper develops a business model analysis framework and suggests a step-wise approach to the exploration of new business models. Three generic business model components, Value Change Model, Value Connection Model, and Value Complement Model, are identified based on their value propositions, and a composite of them, called Value Combination Model, is proposed. In order to integrate various value propositions from these business models, a business model analysis framework is also suggested. In order to test its real-world applicability, a case study is performed on the WLAN services and the effectiveness of the framework as a business model analysis tool is demonstrated.

• Journal of Information Technology Services
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• v.8 no.4
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• pp.187-199
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• 2009

Content services for silver users on the ubiquitous technologies are getting attention as a new business model, monitoring users in real-time on the real-world and/or cyber-world. A lot of business and service model have been developed to apply silver or elder user. This study explained a state-of-the-art silver IT service to innovative services for users, ranging from home and finance to support for healthcare and living. Due to the variation of subtle terminologies, this study was conducted to restructure an adaptive terminology including some definitions. Current silver IT service model has been evaluated from the technical, functional, and business analyst, and its suitability has also been expressed in a proposed model and service. The purpose of this study was to propose a systematic approach of new IT service business model for silver users. A proposed model was described to explain the feasibility of the silver IT industry.

• Proceedings of the Korean Operations and Management Science Society Conference
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• 2001.10a
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• pp.246-249
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• 2001

In this study we propose a technology selection model, which captures technology seeds for new business area by a fuzzy structural modeling method and then, design a model, which evaluates the validity of New Business Development plans for the selected technology seeds with regard to the properties of manufacturing, product, market, and economy as well. Finally, a fuzzy inference system is designed in order to decide the degree of success of New Business Development plans based on the preceding validity evaluation.

• International conference on construction engineering and project management
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• 2009.05a
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• pp.622-627
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• 2009

Business process engineering (BPE) is a top-down management approach for increasing efficiency and productivity through radical and fundamental changes to the business processes of the organization. BPE requires firms to initially develop a model of the existing business processes of the firm to distinguish functional tasks from processes used for coordinating inputs, activities and outputs. The model is used for understanding the business processes in the organization and to simulate the effect of changes to the processes. The model can also be used to justify business processes, which involves assessing whether the business process provides value to the customer in its current configuration. Justification requires a careful examination of the key business processes used by the firm to identify systemic shortcomings in the process and to create a new business process to produce greater efficiency. BPE also considers automating as many business processes as possible to increase operational efficiency and the integration of business process tasks. The construction industry has been slow to adopt BPE because of its project approach in which a major firm contracts with various functional service providers and regards each project as unique. The industry focuses on functional task efficiency rather than business process efficiency. There is no formal methodology or criteria for determining whether a business process is effective for a construction firm in its current configuration. The use of performance measures such as costs, task duration times or other metrics can be useful in evaluating the effectiveness of an existing business process and for modeling the possible outcome of a fundamental and radical change to the process.

• Proceedings of the Korean Operations and Management Science Society Conference
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• 2003.05a
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• pp.792-799
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• 2003

As eTransformation and collaborative eCommerce have been on the rise, business processes between business partners are increasingly recognized as important assets that need to be integrated. These trends imply more complex and dynamic business processes should be considered in order to integrate related business organizations and business units. Moreover, these business processes are widely distributed across stakeholders. Therefore, there is a need for business process modeling that is usable, flexible and capable of integrating systems consistently across businesses and technology barriers. In this paper, a business process modeling methodology is introduced, which is based on top­do\W and model-driven approach utilizing OMG's MDA(Model-Driven Architecture) and UML profile for EDOC(Enterprise Distributed Object Computing). This provides the ability to model business process at all levels simultaneously, to combine business process models retaining their meaning, to use business process design patterns constraining the behavior of sub-processes, and to derive specific codes from a stable model as the underlying infrastructure shifts over time. In addition, we suggest some modifications of the meta-model for EDOC-Business Process Profile by adding new features in order to model business processes rigidly. This paper illustrates some examples of business process modeling and compares them with UML diagrams and IDEF models. The proposed methodology is implemented to develop a business process modeling tool.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.7
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• pp.279-291
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• 2020

This study aims to develop the concept of innovation models with the marketing channel construct approach, marketing innovation, product segmentation, and customer insight; as well as improvements to the theory of resource-based combined with the method of service-dominant logic. This study approach is based on quantitative descriptive conducted with three stages of testing scenarios. The first test is the mapping of the innovation model construct through testing the validity and reliability with the moderation of customer orientation variables. The second scenario examines the relationship of influence between the independent variables on the dependent variable of 29 hypothetical analysis equation modeling. The unit of analysis was conducted on 497 SMEs involved in the food and beverage sectors, with the criteria being SMEs must have a rating of 4-5 points on the Go-Food applications software. The results shown that: 1) the construct used to develop an innovative model both directly and via moderation is positive and significant; 2) Through a complicated relationship that involves all components of the variable, it outlines a positive and significant effect except for the path of analysis (μ5). The theoretical and managerial implications state that the service-dominant logic approach and resource-based view theory have extreme reliability and interrelations.

• Journal of Information Technology Services
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• v.1 no.1
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• pp.45-55
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• 2002

This paper suggests a new approach to IT project management based on a regular project meeting results to consider the recent project environment. The greater part of recent IT projects are related to e-business transformation. Transforming to e-business is a new problem very different from those they have been worked, in several point of views. Under e-business era, therefore any IT project is being implemented in more complex, dynamic and uncertain environment than traditional. That is, project leaders must consider more factors to control projects including resources, quality, risks, and technologies, and human resources. The project organizations and software corporations thus need to develop and establish new concepts or methodologies to manage e-business projects. In this point of view, an entropy model in this study is introduced for estimating and managing the uncertainty in project control using multi-attributes of project meeting. This paper proposes a new frame work based on entropy model using project meeting results to consider eIT project environment with a small pilot study.

• Korean Management Science Review
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• v.33 no.3
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• pp.65-87
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• 2016

Being the FinTech technologies rapidly developed, the non face-to-face private loan market is also growing dramatically. While the real-world interests in this market are keen, the empirical studies on the issue are few compared to its prospective impact on credit loan market. This paper suggests a credit scoring model for the non face-to-face private loan employing the ratings approach (the absolute measurement method) of AHP. Analyzing a sample of data consisting of 460,000 transaction records over an 8-year period in the United States, we develop a scoring model for the non face-to-face private loan screening, and validate the model for the practical usage. Conducting sensitivity analysis, we suggest customized cut-off points for the loan execution to suit each individual loan institution's need.

• Journal of the military operations research society of Korea
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• v.24 no.2
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• pp.17-29
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• 1998

This paper is to aimed to design a model of Korea defense information resource management structure from the viewpoint of system's approach, especially focusing on planning/programming procedures, organizational structure and business process re-engineering. The author analyzed current projects and plans on the field of Korea defense information systems, for finding what kinds of problems and why the problems occurred. The author concluded that many problems came from wrong approach of previous information resource management. Highlights of the proposed model are as follows: 1) Planning and programming structure must be considered as a major information resources and it must be managed as a key role through the whole system life cycle; 2) Organizational structure should be properly set up for managing and implementing information system projects; 3) Business process should also be analyzed thoroughly for re-engineering and innovating current inefficient organizational structure. These three additional viewpoints added to previous model for improving Korea defense information resource management.