• Information Systems Review
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• v.9 no.2
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• pp.129-147
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• 2007

At the time the local credit-card companies plunged into a liquidity crisis in 2002, S-Card was urged to take into account the estimated customer income (ECI) to enhance its customer credit evaluation function for the first time in Korean financial industry. Before this new attempt by S-Card, most credit-card companies including S-Card had performed a customer's credit evaluation based on the customer's behavioral factors such as the amount of purchase on credit, debt payment, and financial history that is provided from the Credit Bureau. However, this approach failed to measure customer's potential value which is one of the major factors in judging the customer's ability to pay, and hence, led to difficulties in risk management. The purpose of this case study is to present the better approach to sophisticated risk management for financial firms in Korea by reviewing S-Card's process of customer income estimation and its application to risk management.

• Journal of Korean Society for Quality Management
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• v.51 no.4
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• pp.589-606
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• 2023

Purpose: This study investigates the effects of scuba diving resort service quality on customer satisfaction and revisit intention, considering the moderating effects of perceived risk by scuba divers such as individual, social, and physical risks. Methods: This study surveyed scuba divers using scuba diving resorts in South Korea. The data were analyzed using multi-regression and hierarchical regression analysis. Results: The results of this study are as follows; all five service quality dimensions (tangibles, reliability, responsiveness, assurance, and empathy) significantly affected customer satisfaction and customer satisfaction also affected revisit intention. However, no moderating effect by perceived risk were observed between customer satisfaction and revisit intention. The cause of these results is believed to be the nature of scuba diving as a adventure sport. Conclusion: These results implies that scuba divers' purchase action can be different from the general service users from the perspective of perceived risk. Considering the uniqueness of adventure sports of scuba diving, the managers of scuba diving resorts need to act actively paying attention to all dimensions of service quality, and customer satisfaction.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.42 no.2
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• pp.239-248
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• 2022

Risks in construction projects are increasing remarkably due to recent changes in the construction environment. Active risk management is required to recognize risks as opportunities. The purpose of this study is to propose a risk management model of the importance determination method through comparative analysis using Kano model, Timko CSC (Customer Satisfaction Coefficient), and ASC (Average Satisfaction Coefficient). Based on previous studies, the validity of risk management factor determination is reviewed through a questionnaire modified Kano model through interviews with working-level workers using the Delphi technique. Through this, a suitable risk management model is presented by selecting key risk management factors recognized by domestic construction project practitioners. As a result of the study, the Kano model developed to verify risk management of construction projects was evaluated to be effective in verifying the risk management of practitioners. It is expected that the Kano model presented in this study will be actively used to verify the importance of risk management for construction projects.

• Journal of Korean Society for Quality Management
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• v.47 no.1
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• pp.97-108
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• 2019

Purpose: The purpose of this study is to propose a new Risk Priority Number(RPN) evaluation method which analyzes value of product functions by mining customer opinions in Social Network Service(SNS). Methods: A traditional RPN is measured by three evaluation standards (Severity, Occurrence, Detection) which are analyzed by manufacturing engineers and researchers. On the other hand, these standards are analyzed by customers' viewpoints through SNS opinion mining in this research. In order to extract customer feedbacks from textual data sets, the methodology in this paper implies natural language processing, hereby collecting product related data sets and analyzing the opinions automatically. An emotional polarity of an opinion indicates severity, while the number of negative opinion shows occurrence, and the entire number of customer opinion refers to detection. Results: The results of this study are as follows; As a result of the CRPN evaluation, it is confirmed that the features evaluated as risky are highly likely to be improved in the next series. Therefore, CRPN is an effective risk assessment model that reflects customer feedback. Conclusion: Reflecting customer feedback is a useful tool for risk assessment of the product as well as for developing new products and improving existing products.

• The Journal of Industrial Distribution & Business
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• v.10 no.4
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• pp.67-76
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• 2019

Purpose - This study attempted to construct and validate a structural model of the relationship between the quality of medical services, perceived risk, reputation and customer satisfaction, which is the main concept of the relationship between large hospitals as well as small and medium hospitals and medical consumers. Through this verification, the small and medium hospitals are to find the way for wise coping in competitive situation with large hospitals. Research design, data, and methodology - This research developed a hypothesis by constructing a structural equation that reaches the satisfaction and the relationship between reputation of perceived risk and perceived risk of service quality perceptions of customers of small and medium hospitals. Research data were collected through a questionnaire survey of respondents who had medical service experience from small and medium hospital. A total data of 252 respondents were used as the sample for the final analysis and analyzed using SPSS 23.0 and AMOS 23. Results - As a result, the relationship of quality of medical service, reputation, and customer satisfaction among small and medium hospitals was consistent with the results of precedent studies, and the perceived risk has a significant impact on reputation, so the greater the perceived risk, the higher the preference for reputable medical institutions as large hospitals. In addition, it was found that the direct route from perceived risk to customer satisfaction was not significant, and reputation was found to have a full mediating effect on perceived risk and customer satisfaction. Customers who use small and medium hospitals prefer to use reputable medical institutions if their perceived risk is high, which is different from risk perception when specific targets are specified. Conclusions - In terms of the effect from customer satisfaction, not only the path of perceived risk → reputation → customer satisfaction, but also the quality of service quality → reputation → customer satisfaction. These findings suggest that small and medium hospitals are appropriately responding to competition with large hospitals, rather than focusing on the perceived risks and reputation of customers in establishing and utilizing competitive strategies to create new customers and preserve existing customers.

• Health Policy and Management
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• v.17 no.3
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• pp.68-86
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• 2007

This study was performed to explore the effect of customer satisfaction and switching barriers on customer royalties in medical services. 900 households, 1% sample were randomly selected from K city located in Kangwon province. Interview survey was performed with structured questionnaire for the entire people, 923 persons who experienced medical service utilization during one year before survey on time, september, 2002. In comparison of switching barriers by sociodemographic characteristics, lower income group and lower educated group showed the higher level of recognition level on availability of changing the service provider significantly. In terms of economic loss as one of switching barriers, the group of over aged 61, the lower income group and the lower educated group felt higher than other groups. Also, the time loss of switching barrier was recognized in 41-60 aged group and employee in service industry highly. For the perceived risk factor as another switching barrier, the high educated group showed the higher recognition level in performance risk and felt higher social risk than other groups. In analysis of customer satisfaction and loyalty levels by switching barrier components, the lower level of availability of changing the service provider and the higher level of recognition for economic and time loss, they showed the higher satisfaction and loyalty levels. In final step, multiple regression analysis showed the positive relationship between customer satisfaction, switching barrier and customer loyalties. Besides, the moderating effect of switching barrier in relationship between customer satisfaction and loyalties was significant and this results suggests that the influence of customer satisfaction to customer loyalties might be weakened in high level of recognition for switching barrier. In conclusion, perceived risk of economic and time loss as switching barrier is an important factor and should be considered in planning of marketing strategy carefully in terms of defensive marketing.

• The Journal of Industrial Distribution & Business
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• v.13 no.4
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• pp.1-14
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• 2022

Purpose: The purpose of the study is to explore the application of Augmented Reality (AR) technology to enhance interactivity and decision making via technology-enabled experience particularly, in the context of COVID-19. This study investigated effects of perceived utilitarian value, hedonic value, social value, and perceived risk on customer satisfaction with AR technology that are rarely examined in previous studies. Research design, data and methodology: Online survey data was used in the study. This study applied factor analysis and regression analysis to test the hypotheses and employed ANOVA and mediation effect analysis to explore additional findings. Results: The results suggested that customers' perceived usefulness, arousal, social preference, innovativeness, financial risk, and performance risk have statistically significant effect on customer satisfaction. Conclusions: The findings of the study provided managerial and policy implications to develop and advertise the introduction of AR technology with the emphasis on the practical and utilitarian benefits of the technology. The result of this study highlighted the importance of customer relationship management by providing advanced services to customers through AR technology. This study contributes to technology-enabled CRM literature by providing the empirical result to verify the assumption that AR technology can be an effective tool of firms' CRM strategy

• Journal of Institute of Control, Robotics and Systems
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• v.6 no.2
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• pp.207-216
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• 2000

This paper introduces an effective system design method to develop a customer oriented product using a design optimization process and to select a set of critical design paramenters,. The process results in the development of a successful product satisfying customer needs and reducing development risk. The proposed scheme adopted a five step QFD(Quality Function Deployment) in order to extract design parameters from customer needs and evaluated their priority using risk factors for extracted design parameters. In this process we determine critical design parameters and allocate them to subsystem designers. Subsequently design engineers develop and test the product based on these parameters. These design parameters capture the characteristics of customer needs in terms of performance cost and schedule in the process of QFD, The subsequent risk management task ensures the minimum risk approach in the presence of design parameter uncertainty. An application of this approach was demonstrated in the development of weld quality monitoring system. Dominant design parameters affect linearity characteristics of weld defect feature vectors. Therefore it simplifies the algorithm for adopting pattern classification of feature vectors and improves the accuracy of recognition rate of weld defect and the real time response of the defect detection in the performance. Additionally the development cost decreases by using DSP board for low speed because of reducing CPU's load adopting algorithm in classifying weld defects. It also reduces the cost by using the single sensor to measure weld defects. Furthermore the synergy effect derived from the critical design parameters improves the detection rate of weld defects by 15% when compared with the implementation using the non-critical design parameters. It also result in 30% saving in development cost./ The overall results are close to 95% customer level showing the effectiveness of the proposed development approach.

• Management & Information Systems Review
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• v.5
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• pp.61-79
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• 2000

This research suggests the strategic adoption methodology of Customer Relationship Management. The backgrounds of CRM is the business environment changing that Market power is shifting to the customer who has unprecedented powers of choice today. The strategic adoption of Customer Relationship Management determines the value, needs and preferences of each customer or customer segment. Customer Relationship Strategy is an explicitly defined plan for how a company has decided to connect with, relate to, and focus on its chosen customers to create value. Deliberate decisions must be made, often involving trade-offs, so that investments are aligned with customer needs and value. Plan defined in terms of target customers value proposition, role in value delivery, and risk/reward sharing. All customers are not created equal; specific customers and/or customers segments are more desirable/valuable to pursue. Key premise of CRM is that value can be created by changing company's business model to better connect with customers. Area of service of Customer Relationship Management are as follows. Portfolio strategy, Market Opportunity Assessment, Brand Equity, Market Positioning, Pricing, Channel Strategy, Market Segmentation. Target Market Identification, Customer LifeTime Value Analysis, Customer Profitability, Customer Connections Economics Analysis. The objects of CRM are maximizing customer service effectiveness, improving customer loyalty, increasing customer service efficiency, optimizing intelligence about customer behaviors and preferences.

• Journal of Service Research and Studies
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• v.12 no.3
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• pp.70-92
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• 2022

Project risk assessment is the most important activity performed at the beginning of a project because it can judge the performance of the project in advance. In this study, We were evaluated risk with traditional risk factors such as technology and schedule, etc, and Indirect risks factors such as financial, strategic, and special risks. and then, we analyzed what kind of relationship these risk evaluation factors have on business performance and customer satisfaction. As a result of the research, it was found that the risk evaluation items had a relationship with performance and customer satisfaction. However, It is possible that the performance may differ depending on how risks are managed after risk assessment. Therefore, follow-up studies should be conducted, including information on risk management practices. This study is meaningful that presenting practical risk evaluation items and at the same time identifying the relationship with performance. We plan to further the study in future studies including the evaluation of risk management process.