• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.4 no.4
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• pp.45-70
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• 2009

This article investigates which types of the strategies announced by the listed firms contribute to enhancing the long-term performance of the companies. Since 2002, Korean Exchange adopted the "faire disclosure policy" which mandates that all publicly traded companies must disclose material information to all investors at the same time. Thanks to the policy, Korean investors can, now, easily access the board's decision on management strategies on the same day the decision is made. If the companies trustfully carry out their announced strategies, we can decide which types of strategies actually enhance or deteriorate the long-term performance, simply by comparing the announced strategies and the firm's performance. The sample companies are confined to 60 firms that became listed in the KOSDAQ market through back-door listing from 2003 to 2005. Using only the newly listed companies, we can avoid the interference on the long-term performance of the strategies pursued before the event date. This often holds true, for many companies radically modify their strategies after the listing. Furthermore, the back-door listing companies serve our purpose better than IPO companies do, because the former tend to have a variety of announcement within a given period of time beginning the listing date. Using these sample companies, this article analyzes the effect on one year buy-and-hold returns and abnormal buy-and-hold returns after the listing of the various types of strategies announced during the same period of time. The results show that those evidences of restructuring such as 'reduction of capital' and 'resignation of incumbent board members', actually contribute to the increase in adjusted long-term stock returns. Those strategies which can be view as evidence of new investment such as 'increase in tangible assets', 'acquisition of other companies', do also helps the stockholders better off. On the contrary, 'increase in bank loans', 'changes of CEO' and 'merger' deteriorate the equity value. The last findings let us to presume that the back-door listing companies appear to use the bank loans for value-reducing activities; the change in CEO is not a sign of restructuring, but rather a sign of failure of the restructuring; another merger carried out after back-door listing itself is also value-reducing activity. This article's findings on reduction of capital, merger and bank loans oppose the results of the former empirical studies which analyze only the short-term effect on stock price. Therefore, more long-term performance studies on public disclosures are in order.

• Journal of Korean Society for Quality Management
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• v.44 no.3
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• pp.639-648
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• 2016

Purpose: Existing precedent studies include success factors of individual management innovation activities constantly. However, those studies have limitations about the common key success factors of individual management innovation activities. Methods: For this study, we investigate the key success factors using literature research of the most typical management innovation activities adopted and implemented by many companies in Korea, such as 6sigma, TQM, Lean 6sigma, ERP, TPM, BPR, Project Management, System Engineering. Factors emerging repeatedly was combined into common factors and inherent factors that are necessary for the success of individual management innovation activities are designated to essential factors. Results: 'Essential factors for Six Sigma' consist of 5 items. Black belt operating system, personnel management system linkage, the correct management of the data, perform improvement projects associated with financial performance financial result, linked to financial performance improvement project, project progress management. 'Essential factors of TQM' are arranged 4 items. Quality team's independence and role, goal-setting, Quality Information System, corporate's philosophy of quality first. 'Essential factors of Lean Six Sigma' are the selection of value stream which is based on the customer needs and the value creation and identify the project based on the selected value in the company. 'Essential factors of ERP' are investigated 6 items. Ongoing system maintenance and upgrades, the measurement and support of user satisfaction, the operating systems and the policies for the maintenance, IT infrastructure, change adaption condition monitoring, focusing on improving business performance. 'Essential factors for TPM' are arranged 4 items. Motivated and energetic Bottom-Up, CEO's recognition of the importance facility management, long-term perspective of necessity and ongoing patience. 'Essential factors for BPR' are the pursuit of change process and the staff's sense of crisis management. 'Essential factors for Project Management' are the strategy that reduce the risk management skills through risk management and the understanding and organized management for the project participant's needs. 'Essential factors for System Engineering' consist of 2 items. The first is the design for the best balanced system with pre-analysis about the compromise the cost, schedule and the performance. The second is the analysis of large problem into small problems which can solved. We have found the solution considering components of the interface through the systematic perspective. Conclusion: Common factors and essential factors presented in this study will properly help to introduce the individual management innovation activities for the each business sector and implement management innovation. After this study, new literature research that reflect new studies should accomplish steadily.

• Journal of Digital Convergence
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• v.14 no.10
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• pp.431-438
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• 2016

This study focused on the Korean-wave content consumed in the global market and analyzed success/failure factors of services through business model analysis. It aims to offer an effective new media content platform model. ViKi, Drama Fever, Maaduu.com which are representative global OTT were researched on management strategy by case analysis. The success of the global OTT platform is organized into three factors, target customer coverage, revenue model and community activation. Clear and wide coverage of target customer is important to determine the value of the service. Also, revenue model based on the pay service and community for Korean-wave fandom are essential to make good performance in new media platform business.

• The Research Journal of the Costume Culture
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• v.24 no.2
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• pp.248-262
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• 2016

Most Korean companies in the fashion industry are SMEs, and the role of the CEO and management ownership is important for enhancing the firm's competence and developing strategies. The study aims to examine the effect of management ownership on company financial growth. In particular, the study focuses on the moderating effect of company age and size on Korean fashion SMEs' financial outcomes. Financial data based on company financial statements from 2012 to 2014 was collected by the Data Analysis, Retrieval and Transfer System of Korea's Financial Supervisory Service. A total of 295 companies' (domestic fashion businesses) data was analyzed by the bootstrap method. The median sales value in the financial year 2014 was 47,492,403,958 KRW, and the company size was divided by it. The companies were in business for an average of 20 years. According to the results, the management ownership had a negative effect on Compound Annual Growth Rate (CAGR) for the three-years, and the relationship between the two variables was moderated by company age. Additionally, the interaction effect of management ownership and company age on 3-CAGR was also moderated by company size. When the companies had spent only a few years in business, a negative effect of management ownership for small firms and a positive effect of management ownership on financial growth for medium firms were found. These results suggest that small companies starting business need to manage their company governance structure to make flexible decisions, and after retaining financial growth, the companies can expand their businesses based on strong ownership.

• Journal of Advanced Navigation Technology
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• v.15 no.6
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• pp.1194-1211
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• 2011

The main research purpose of this paper is developed to Fusion Management System Model that is competition advantage and excellence airport for the airport authorities. Fusion Management System Model is developed to fuse and convert how is consist of creativity management and management quality system. Fusion management system structure is as follow. Firstly, part of foundation configured to philosophy and intention of CEO, company as like university and value-based creative corporate culture. Secondly, part of body is applied that is process by 6sigma, system by ISO9001. Thirdly, part of head is applied that is strategy and evaluation by Malcolm Baldrige National Quality Award of U.S.A. Also, system connected to synergy line that is creativity management, fusion & convergence and trust. Finally, this system has been researched to the practical perspective in order to realize for airport authorities.

• International Commerce and Information Review
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• v.9 no.2
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• pp.19-40
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• 2007

In recent, T-commerce is widely dispersed as alternative type of commerce. It is forecasted that t-commerce system is used more than e-commerce system. Therefore more and more t-commerce-related industries are also recognizing that t-commerce is a critical business model. It is needed to understand the concept of t-commerce and develop the t-commerce marketing strategy. CEO analyses consumer's behaviors according to the data about buyers and applies the advantage of t-commerce to the communication with customers. This t-commerce system plays an important role in maximizing customer satisfaction and affecting their intention to reuse it. Therefore this paper attempts to identify T-commerce critical success factors and divide between use-intention group and unuse-intention group by taking out a discriminant function by the discriminant analysis. This lays a foundation in developing T-commerce strategy. According to the discriminant function extracted, convenience factor, amusement factor, system quality factor, product perception factor are significant in the sequence of influential degree. However, usefulness factor and speedy connection factor are not significant. In result, the target hitting rate is 77.9% in the first unuse-intention group and it is 95.2% in the second use-intention group. The total discriminant target hitting rate is computed to higher value, 86.55%. The statistic package, SPSS 12.0, is used to survey and analyse data and test the hypothesis. The validity and reliability of variables are verified by both reliability analysis and factor analysis. The discriminant analysis is used to tell the difference between use-intention group and unuse-intention group.

• The Journal of Information Systems
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• v.26 no.3
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• pp.1-23
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• 2017

Purpose With the advent of the 4th Industrial Revolution era, ICT convergence industry is leading the wave of new change. These changes in the industrial field are recognizing convergence as a strategic cooperation tool of management for creating new value. In order to achieve the research purpose, conceptual understanding of ICT convergence is summarized by focusing on concepts, features, types and cases. In addition, this study established the theoretical rationale for the determinants of ICT convergence performance, and examined previous researches related to ICT convergence. Design/methodology/approach The empirical research method is based on a survey of 510 companies including managers and mid-level practitioners who understand the contents of the relevant field, 305 data were used for analysis. We conducted exploratory factor analysis to verify the grouping of these questionnaire items and conducted confirmatory factor analysis to analyze the validity and reliability of the measurement model. Through the statistical analysis, we analyzed the structural relationship of ICT firms' competencies for convergence performance. Findings Linkage of ICT strategies established by corporations is an important factor for enhancing resource capacity and convergence ability. It is important to ensure that product innovation, consumer-oriented strategies, and ICT strategies for the implementation of business strategies are closely linked. In addition, in the convergence environment, companies should make efforts to develop convergence ability and improve organizational performance through utilization of ICT resources. From the CEO's perspective, it is necessary to understand the knowledge, technology and resources arising from the convergence environment, and to integrate with the resources possessed by the enterprise to induce the organization's performance.

• Journal of the Korea Convergence Society
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• v.12 no.6
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• pp.151-160
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• 2021

This study decided that it was necessary to present a strategy for survival in the new normal era and securing competitive advantage, and tried to suggest a management strategic alternative. To this end, this study derives the new normal caused by Corona 19 and the business environment change trend and response strategy type caused by this through literature research and intensive interviews of 10 corporate CEOs. This study limited the scope of the study to the digital-based management and business-level strategic alternatives among strategic alternatives that can be deployed in various fields and areas. Business structure redesign strategy, resilience reinforcement strategy, ESG management strategy, and digital transformation strategy were suggested as alternatives to corporate-level digital-based strategies. As an alternative to business-level digital-based strategies, a digital strategy for industrial structure leading, a competitive strategy for digital innovation, an open innovation platform strategy, and a customer value-oriented strategy were suggested. It contributed in that it was an attempt to systematize a digital-based strategy more and it contributed in that it can support companies who have to deal with difficult situations wisely to implement strategic responses more systematically.

• Journal of the Korea Convergence Society
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• v.12 no.8
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• pp.207-214
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• 2021

Existing studies have shown consistent results that a diversification discount phenomenon occurs, which means that the value of the company decreases as the degree of diversification of a company increases. Nevertheless, it is explained by the agency theory as a factor that continues to promote diversification by companies. And in order to solve the agency problem, it is important to form an effective governance structure. In order to solve these problems, this study aims to study how the directors' concurrent information affects the monitoring effect of the board of directors through this affects diversification.To this end, research was conducted on KOSPI companies for 6 years from 2011 to 2016.As a result of the analysis, in the case of the concurrent appointment of the CEO and the inside director, there was a positive (+) effect, but the significance could not be confirmed. In the case of adjunct appointments as outside directors, positive results were confirmed that were significant for diversification.

• Asia-Pacific Journal of Business
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• v.12 no.4
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• pp.271-288
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• 2021

Purpose - The purpose of this study is to identify the critical factors that restaurant management should consider strategically when making a decision after COVID-19 under the digital transformation and non-contact service expansions environment. Design/methodology/approach - The thirty six experts and managers who have 5 years or more experience in restaurant industry in Korea participate this study. The Analytic Hierarchy Process (AHP) and SER-M were used to analyze the experts' opinion Findings - As a result of the analysis, 'management environment' (0.313) showed the highest relative importance priority, followed by 'brand (0.263)', 'management characteristics (0.254)', and 'physical factors (0.17)'. And, as for the sub-factor value, 'lifestyle (0.087)', 'awareness (0.084)', 'consumer desire (0.075)', and 'loyalty (0.068)' were ranked highest among the 19 influencing critical factors. Research implications or Originality - In the case of large restaurant enterprises, it is judged that the subject(CEO, Management) is actively pursuing a strategy to acquire the necessary resources for the given environment of digital transformation and customer demand for non-contact services. On the other hand, in the case of middle and small restaurant enterprises, it seems that they are fully aware of the demand for expansion of non-contact services and the digital transformation required in the post COVID-19 era, but information technology utilization ability, usage experience, technology acceptance ability, and education and training support for this are only available to large enterprises.