• Journal of Intelligence and Information Systems
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• v.10 no.1
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• pp.109-123
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• 2004

Corporate financial distress and bankruptcy prediction is one of the major application areas of artificial neural networks (ANNs) in finance and management. ANNs have showed high prediction performance in this area, but sometimes are confronted with inconsistent and unpredictable performance for noisy data. In addition, it may not be possible to train ANN or the training task cannot be effectively carried out without data reduction when the amount of data is so large because training the large data set needs much processing time and additional costs of collecting data. Instance selection is one of popular methods for dimensionality reduction and is directly related to data reduction. Although some researchers have addressed the need for instance selection in instance-based learning algorithms, there is little research on instance selection for ANN. This study proposes a genetic algorithm (GA) approach to instance selection in ANN for bankruptcy prediction. In this study, we use ANN supported by the GA to optimize the connection weights between layers and select relevant instances. It is expected that the globally evolved weights mitigate the well-known limitations of gradient descent algorithm of backpropagation algorithm. In addition, genetically selected instances will shorten the learning time and enhance prediction performance. This study will compare the proposed model with other major data mining techniques. Experimental results show that the GA approach is a promising method for instance selection in ANN.

• Journal of Technology Innovation
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• v.22 no.4
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• pp.21-55
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• 2014

The rates of technological innovation and environmental change as well as market competition have recently accelerated, which makes it difficult for firms to satisfy the needs of their customers through existing product innovation or limited services. Some firms have attempted to find the solutions to this problem by conducting business model (BM) innovation. This study reviews the theoretical discussion to BM innovation and suggests propositions concerning the necessity of BM innovation and conditions of successful BM innovation. Furthermore, the study examines the applicability of the propositions and draws strategic implications by analysing the cases of two world-wide leading firms, AVL and ETAS, in the automobile R&D service sector. In particular, the study investigates how the firms with technological competence in the R&D service sector obtain market performance through BM innovation. Results of this study show that the case firms recognize the necessity of BM innovation based on product (or technology)-service fusion to effectively propose customer value and create corporate profit. Also, the firms exploit firm-specific complementary assets for successful BM innovation. This paper contributes to the literature of innovation management by promoting academic discussion concerning BM innovation in Korea and suggesting strategic implications for further development of R&D service sector and related firms in Korea.

• Journal of Digital Convergence
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• v.11 no.6
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• pp.91-101
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• 2013

The purpose of this study is to empirically verify the relationship between supply chain flexibility(process flexibility and logistics flexibility) and competitive advantage strategy(cost, quality, lead time). To accomplish these purposes, the relationships among supply chain flexibility(process, logistics), competitive advantage strategy(cost, quality, lead time) were modeled based on the studies conducted in the various areas. In order to collect the related data the questionaries of 500 were distributed to the employees working at the manufacturing industry in the area of Gumi. The collected data were analyzed with SPSS 18.0 for Windows. This study used the statistical techniques such as descriptive analysis, reliability analysis, factor analysis, correlation analysis, multi regression analysis. The results of the study show that process flexibility had positively significant effect on low cost strategy and high quality strategy and logistic flexibility have positively significant effect on delivery speed strategy. However, it was found that process flexibility did not have the significant effect on delivery speed strategy, and the logistic flexibility did not have the significant effect on low cost and high quality strategy. Thus, it is expected that each enterprise can maximize corporate strategies by applying different flexibility strategy depending on the competitive advantage strategy.

• Journal of the Korea Convergence Society
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• v.6 no.6
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• pp.17-26
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• 2015

Firms that have adopted internet technology have been confused by distorted market signals. It is natural to look at marketplace outcomes for guidance, when confronted with a new business phenomenon. However, market signals can be unreliable in the early states of any important new information technology. New technologies trigger rampant experimentation, and the experimentation is often unsustainable. As a result, market behavior is distorted and must be interpreted cautiously. In Chapter 1, we review a concept of business model and roles of strategies in a business model. In Chapter 2, we discuss a strategic auditing method for analyzing market/channel positioning, product/service positioning, value chain/value network positioning and external environmental factors. In chapter 3, we introduces major frameworks for understanding factors forming strategies. The strategic grid model categorizes four quadrants depending on the level of impacts of information technology on operation and strategy. The strategic alignment model presents a new method of assessing an alignment of information technology and business throughout all elements of a business model. In this research, we review the concept of a business model. This research introduces factors that shape strategies and new frameworks for understanding these factors. The research objective of this manuscript is to present a guidance for firms how to use information technology for attaining sustainable competitive advantages.

• Journal of the Korea Convergence Society
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• v.11 no.2
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• pp.231-240
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• 2020

In this study, the case of OO corporation was based on to examine the business performance and method of OO corporation and the competitive advantage and success factors were considered. For the progress of this study, references and advanced researches related to entrepreneurship, authentic leadership, and organizational effectiveness, which were suggested as the core competence of non-profit organizations, were examined and textual information was secured through the homepage of the targeted organization and news articles. Lastly, data needed for the research was collected through an interview with the Chief Executive Officer (CEO) of the organization. Through the process and analysis, the following findings were identified. First, the entrepreneurship of the CEO can apply as a core competence for the operation of the non-profit organization. Second, the proposition was derived that the roles of the CEO and leadership can apply as a key competence in the operation of the non-profit organization. This study implies that the many theories and strategies which were only targeted on companies can also be applied for the research of non-profit organizations. Moreover, concerning modern corporate management, strategic approach of non-profit organization characteristics like a sense of mission, fairness, and ethics can promote the creation of sustainable competitive advantage.

• Industry Promotion Research
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• v.5 no.2
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• pp.19-25
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• 2020

This study is a study on how to revitalize social and economic organizations in the Chungnam region. For this, the following major results were presented in literature studies based on prior studies. First, it is necessary to upgrade the social economic organization promotion system and system in Chungnam. Second, there is a need to advance the measures to revitalize various social and economic organizations in cities and counties by building an integrated support system for social and economic organizations. Third, it is necessary to expand the public purchase of products of social economic organizations. Fourth, it is necessary to strengthen the business competency of the social economy organization and promote education. Fifth, it is necessary to upgrade the network for social economic organizations and create differentiated businesses. On the other hand, the social economic organization in Chungnam region shown through this study is as follows. First, social and economic organizations should share their willingness to implement policies in the provincial and provincial areas of Chungnam Province and cities and counties in terms of solving and improving various problems in the region. Based on this, it is required to upgrade the social and economic organization area. Second, the Chungnam region needs a shift in awareness that it is a social and economic organization that is a key factor in overcoming changes in the demographic structure due to industrial weakness and aging. Third, a positive shift in awareness is required by shifting awareness and strengthening education on social and economic organizations. To this end, it is necessary to raise the awareness level of local residents through public education and joint public-private education.

• 한국벤처창업학회:학술대회논문집
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• 2009.10a
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• pp.111-138
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• 2009

This research focuses on what factors determine firm's decisions on R&D outsourcing and how R&D outsourcing affect R&D performance. In recent years many firms outsource R&D activities instead of internalizing it. Thus, further investigation is necessary to find out this recent trend. Based on several theoretical background the study developed three determining factors of R&D outsourcing which are transactional level, firm level, and risk level. Transactional level composes of independent variables such as R&D cost saving, asset specificity and uncertainty which mainly comes from Transaction Cost Economics theory. Firm level composes of openness to technology from outer source, R&D capability, and outsourcing experience. Risk level composes of technological risk, cost-related risk and managerial risk. The result shows that R&D outsourcing is significantly related to cost saving aspect, low asset specific firms, firms without solid technological background, firms which are open to external technology, firms with other types of outsourcing experience, and firms which take technological risks. However, proposed relationship between degree of R&D outsourcing and R&D performance found out to be insignificant. This research is contribute to the field of outsourcing study since it will give guidance to managers who need to make strategic decisions on R&D outsourcing activities.

• Journal of the Korean Society of Costume
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• v.38
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• pp.193-211
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• 1998

Without a solid marketing system in placed, the fashion industry cannot flourish on out-standing design or technology alone. Even though the significance of collecting and analyzing information, merchandising, and retail distribution is recognized, these functions are not firmly rooted or prevalent in our industry. In contrast, Italy which possesses similar demographic traits such as the lack of natural resources and other physical factors has succeed-ed in globalizing its fashion market by responding swiftly and exercising flexiblity to its constantly changing consumer demand. This in turn has earned Italy the competitive edge in the global fashion arena. Italy's unique management skills and operation know-how, along with successful market strategies come into play in bringing competitiveness to Italy's fashion market. Firstly, smaller companies with ability to adopt swiftly to the ever changing market. Secondly, fashion friendly social environment. Thirdly, niche marketing through highly specialized system and differentiation. Fourthly, timeless innovation through intense corporate competition. Lastly, establishment of foundations to support the industry through diverse networking. The alone building blocks have formed a basis for erecting an unparalleled market with a reputation for excellence in design and quality in the global fashion world. This study has examined how Italy's fashion industry has evolved from an underdeveloped textile business into a cutting edge fashion in-dustry. Italy's unique business processes and practices were studied to come up with a collection and merchandising ideas in a niche market. By selecting this venue we are able to continuously grow and develop in a market with diverse consumer needs. To analyze the Italian fashion market, data from 3 institutions were utilized, namely, CIT-ER which has provided consumer trends and sales analysis, SITA,a data service provided statistics from the textile and apparel businesses, and NBI has also furnished valuable data. Italian consumer preference, buying behavior, consumer profile, retail channels and other related data from the above institutions has formed a backbone for market segmentation and target markets, and as a result, we were able to zero in on the type of consumer, produce, pricing and retail channels for our womenswear. Going forward the direction is to elevate product image and pretige, and create syn-ergy between related industries, and at the same note, in order to develop internationally recognized brands such as Max Mara and Benetton. Certain elements such as the specialization of the fashion industry, alon-g with fashion-related data base and systems support, and most importantly experts with acute fashion sense and capacity to analyze pertinent data are in need. I firmly believe that we can achieve Italy's level in the fashion market with support from the government and unrelenting effort within the industry itself, and hope that this report can prove to be useful.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.2 no.4
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• pp.103-133
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• 2007

The purpose of this study is to investigate whether customer satisfaction is affected by the expenditure for the customer satisfaction such as advertising, promotion, and training. This study also investigate whether the financial performance of the firm is affected by the customer satisfaction. The major findings are summarized as following. First, the customer satisfaction is affected by the expenditure for the customer satisfaction such as promotion, training. But customer satisfaction is not affected by advertising cost. Second, considering the time-lag and incremental valiables, the relationship between customer satisfaction and expenditure for the customer satisfaction is not founded. Third, the customer satisfaction affects positively on the corporate financial performance, such as ratio of operating income to sales, ratio of net income to sales, return on total assets, and return on equity. Finally, considering the time-lag the relationship between customer satisfaction and financial performance is not founded. Considering the incremental valiables, the relationship between customer satisfaction and financial performance is founded when ratio of operating income to sales and return on total assets are used financial performance. These findings imply that the expenditure for promotiom and training is needed to increase the customer satisfaction. Also improvement customer satisfaction is needed to increase the financial performance. The limitations of this study are as following. First, this study could not consider the other variables that would affect on the relationship among expenditure for customer satisfaction, level of customer satisfaction, and financial performance. Second, the results of this study are difficult to generalize because this study is focused on the service industry.

• The Journal of Society for e-Business Studies
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• v.25 no.1
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• pp.65-82
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• 2020

Start-ups often use crowdfunding platforms such as Wadiz to get financing from corporate investors and general public. These platforms include functions to increase participant activity through the number of comments, interest and online word-of-mouth. This study aims to elucidate how these functions related to a participant activity exhibit mediating effects on a success of crowdfunding and an achievement rate of targeted investment amount. To this end, the individual variables such as progress period, target amount, venture company, experience of attracting investment, possession of intellectual property rights, a career of the representative and an award experience of the representative were classified into the project characteristics, the company characteristics and the representative characteristics through not only previous studies but also interviews with investment professionals and platform operators. Afterwards, this study went through an empirical verification process using a structural equation model that has both crowdfunding performance and participant activity, which is the independent and mediating factors of three perspectives, as well as the dependent variables. In other words, this study analyzes how the characteristics of three perspectives affect the participant activity and how the participant activity had the mediating effects on the crowdfunding performance. In addition, it derives how the analysis results mentioned above vary according to business types (internet services, culture/art, manufacturing/distribution) and investment styles (stock type and bond type). It is expected that this study will help not only in deriving the factors affecting the performance of an investment type crowdfunding but also in preparing the measures to increase a participant activity.