• Journal of Convergence for Information Technology
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• v.11 no.1
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• pp.80-90
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• 2021

This study examines whether, when, and how sellers with low-quality products can instantly enhance profitability by fully disclosing quality information. Our analytic model has found that a low-quality seller can increase demand even in the short run by voluntarily sharing the information about its quality, if he can sufficiently reduce perceived risk of buyers. Moreover, a low-quality seller's information disclosure may increase both the market's and the competitor's demand, depending on the level of perceived risk. The finding of this study is expected to provide meaningful implications to managers and policy makers on solving market dilemmas under information asymmetry.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.16 no.6
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• pp.17-29
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• 2021

Recently, as social distancing have been raised due to the re-spread of COVID-19, the number of serial entrepreneurs who are closing their business is rapidly increasing. Learning from failure is a source of success, but business failure can result in psychological and economic losses and negative emotions of the serial entrepreneur. At this point, it is very important to find a way to recover the negative emotions caused by business failures of serial entrepreneurs. Recently, a strategic model has emerged to deal with the negative emotions of grief caused by business failures of serial entrepreneurs. This study identified the recovery factors from the grief of business failures of serial entrepreneurs and analyzed Shepherd's(2003) three areas: loss orientation, restoration orientation, and dual process. To this end, individual in-depth interviews were conducted with 12 small business serial entrepreneurs who challenged re-startup to identify the attributes of recovery factors that were not identified with quantitative data. As a result of the study, first, recovery factors were investigated in three areas: individual orientation, family orientation, and network orientation. It was found to help improve recovery in nine categories: self-esteem, persistence, personal competence, hobbies, self-confidence, family support, networks, religion, and social support. Second, recovery obstacle factors were investigated in three areas: psychological, economic, and environmental factors. Nine categories including family, health, social network, business partner, competitor, partner, fund, external environment, and government policy were found to persist negative emotions. Third, the emotional processing process for grief was investigated in three areas: loss orientation, restoration orientation, and dual process. Ten categories such as family, partner support, social member support, government support, hobbies, networks, change of business field, moving, third-party perspective, and meditation were confirmed to enhance rapid recovery in the emotional processing process for grief. The implications of this study are as follows. The process of recovering from the grief caused by business failures of serial entrepreneurs was attempted by a qualitative study. By extending the theory of Shepherd(2003), This study can be applied to help with recovery research. In addition, conceptual models and propositions for future empirical research were presented, which can be discussed in carious academic ways.

• Journal of Global Scholars of Marketing Science
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• v.12
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• pp.29-57
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• 2003

Customers of local monopolistic department store can switch their store more easily than ever due to the rapidly changing environment in distribution system represented by multi-store-strategy of large department stores, increase in discount store and growing non-store retailing system. Consequently, local department stores which enjoyed their business with little competition are forced to study and understand the customer switching behavior. This work is intended to understand the switching behavior characteristics of monopolistic local clepartrrent store users. For the end, previous researches are reviewed firstly, then characteristics of store-switching behavior of custorrers amid rapidly changing distribution environment are studied in view of the relations of dissatisfaction factor, switching barrier, switch intention and custorrer characteristics such as shopping orientation, variety-seeking behavior, degree of openess to competition and sociodemographics. Study shows that; 1) dissatisfaction factor is related to customer characteristics (shopping orientation and degree of openess to competition), 2) switching barrier recognition is related to customer characteristics (degree of openess to competition and sociodemographics) and dissatisfaction factor, 3) intention to switch to expected competitor is related to customer characteristics (shopping orientation, degree of openess to competition and sociodemographics) and switching barrier recognition. Accordingly, switch control strategy of the monopolistic local department store facing competitors' entry into market, must be made, specifically, in a way to understand customer characteristics and to make deliberate effort to reduce customer dissatisfaction.

• The Journal of Information Systems
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• v.15 no.3
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• pp.1-34
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• 2006

The purpose of this study Is to develop empirically validated instrument for business model. The previous researches related to business model were almost taxonomies. And the focus of those researches were the classification by the degree of integration and innovation the origin, and the main source of revenue etc. In the emerging fields such as IT, e-commerce, and e-business, it tends to overlook methodological issue in its substantive relationships and also measurement. Business model is taken an interest in recent years. However, as the non-establishment of construct on business model has made no empirical study, this, study tries to develop an empirical validated instrument that identifies the dimensions of business model by uncovering meaningful group or categories. For this, the outlined domain of business model are defined as an organizational level that competes in the industry through the literature reviews. And the traits such as process integration, value chain reconstruction, strategic alliance with another business model, specialty in a certain wet sustainability of essential capabilities, differentiation, convertibility, customer orientation, revenue stream, newness, innovation leadership: and vision sharing are identified in those respective domains, and then the traits are classified into five dimensions such as interlinkageableness, valueness, functionalness, preemptiveness, and goalness by their characteristics. Generating items are continued on the basis of operationalization. Confirmatory factor analysis is performed in order to develop validated instrument with LISREL measurement model. Finally the instrument is developed through the previous procedure. The implication of this study is the first empirical effort to assess business model. The resulting instrument can be used with dependent variables in the future study related to business model. And the establishment of construct of business model is able to make a basis to rise an additional issue consequently. In the practical side, the instrument also can be employed as an assessment framework that can assess whether the expected value success or not. The instrument with the measurement can be used on competitor's business model, In. When an investment into a i-m with a specific business model, these instrument developed can be presented as the basic framework of assessment.

• Journal of Korea Society of Industrial Information Systems
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• v.24 no.1
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• pp.109-123
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• 2019

Recently, As the desire of consumer gets complexed and demanding, business environment is they are rapidly changing to customer-oriented ones. In order to survive in an age of fierce competition with competitor encompassing changing and customer's needs of consumer company emphasizes market orientation to have a sustainability. It is necessary not only satisfy consumer but also to provide customer delight. We want to see if customer's loyalty can be increased by experiencing C/S and C/D. First, customer's loyalty influences repurchase intention after experiencing customer's satisfaction and customer's delight. Second, customer's satisfaction is influenced by customer's satisfaction level. Especially Joy is one of the most important factor affecting customers delight. Third, customer's loyalty is one of the most important factor affecting customer's satisfaction. Finally, through this study, it was found tha customer's satisfaction and customer's satisfaction improve the repurchase relationship which is crucial from customer's loyalty.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.1
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• pp.13-29
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• 2023

Overcoming the death valley, a period in which resources are depleted and profitability declines or stagnates in the entrepreneurial process, is an essential procedure for success. In this study, we examined how the strategic orientation(technology, customer, competitor orientations) and absorptive capacity(potential, realized capacities) of startups affect the possibility of startups to overcome the challenges of death valley, and also empirically analyzed whether support of open innovation and venture capital has a moderating influence to the overcoming of death valley. The result of this study shows that customer orientation and realized absorptive capacity have a positive influence on overcoming the death valley. In addition, we found that the support of open innovation and venture capital has a moderating effect only in the technology orientation among the three types of strategic orientations. The result of this research emphasizes (1) the need for startups to take a more customer-oriented approach to overcome the death valley. The customer-oriented behavior and strategies of startups are vital for their longterm survival and success if we consider the fact that most of the companies investigated in this study were technology-based startups and only customer orientation showed significant results in overcoming the death valley. The research outcome also shows that (2) implementing innovation in a more open way and securing venture capital funding can make it easier for startups to overcome the death valley. This study has academic significance in that it empirically analyzed the relationship of key factors influencing the overcoming of death valley in a situation where the majority of existing research remains at the conceptual level of discussion or methodology of case study. Furthermore, this research also provides practical implications for the establishment and implementation of effective strategies to confront the challenges of death valley for startups, government and related organizations.