• Fourth Industrial Review
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• v.1 no.1
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• pp.31-40
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• 2021

Purpose - According to the importance of business simulation learning as a new type of business learning tool, this study reviews the dimensions of business education and a brief history of business education simulation. At the end Capsim strategic management simulation program is introduce with its feature. Research design, data, and methodology - This study has been analyzed in a way that reviews at previous literature on simulation learning and looks at examples and features of Capsim simulation, online business simulation tools which has been used in the global market. Result - Capsim simulations are designed to offer focused opportunities for deep practice. That's why they are often more effective than passive tools such as textbooks, videos, or lectures. By the way, 'deep practice' is very different from 'ordinary practice'. After commuters who drive to school or work can accumulate thousands of hours of driving, but that doesn't make them expert drivers. The key to deep practice is self-awareness. That is, paying attention to what you are doing well and not so well. This is so important to learn that scientists use a specific term for it: 'metacognition', or thinking about the way you think and learn. Conclusion - The use of business simulation learning, such as Capsim, which is a given case, can create similar local systems by potentially engaging a large number of users in the virtual market. It could also be used as an individual to complete business training for students and those who are active in the business field of business.

• Asia-Pacific Journal of Business
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• v.12 no.4
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• pp.299-312
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• 2021

Purpose - The purpose of this study is to analyze Trade Structure after Korea and Colombia FTA, and identify its problems and suggest measures that can be taken by the government and corporations to reinforce economic cooperation. Design/methodology/approach - To improve the level of contribution of the study, an empirical analysis is necessary. However, due to limited data access, the study will approach the topic of trade relations between Korea and Colombia with various statistics and literature. Findings - First, there is an urgent need for changes in import-export goods between Korea and Colombia, as trade is focused on specific items. Second, although foreign direct investment from Korea to the Colombia is centered in manufacturing and wholesale & retail, there should be different investment strategies by industries. Third, it is necessary to reinforce commercial cooperation. Research implications or Originality - The Free Trade Agreement between Korea and Colombia entered into force in 2016. Under the agreement, both countries will eliminated all tariffs within ten years after it takes effect. Reinforcing economic cooperation with Colombia is extremely important for Korea in terms of entering and dominating Colombian market. However, there is still a lack of research on the Colombia, and corporations that aim to enter Colombian market face difficulties due to lack of information. This study analyzes the recent trends of problems of trade between Korea and Colombia and suggests solutions for boosting trade to provide proper strategic guidelines for Korea that are planning to expand to Colombian market.

• Fourth Industrial Review
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• v.2 no.1
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• pp.33-43
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• 2022

Purpose - With the rapid development of information technology, the digital economy has become an important grip of the new development pattern, and the digital transformation of enterprises is a major trend. As SMEs are the mainstay of the economy and employment, it is important to study the digital transformation of SMEs to promote the development of the digital economy. Research design, data, and methodology - Based on a resource-based view, this report analyses the current situation and issues of digital transformation of SMEs from the perspective of digital orientation as well as the breadth and depth of technological capabilities of enterprises, using data from a survey of 200 manufacturing enterprises in China. Result - The results show that SMEs generally have a digital transformation mindset, but a weak digital foundation. In order to execute a digital strategy, companies need digital transformation capabilities. These behavioral capabilities are guided by the strategic direction of the business, and companies with strong capabilities are always trying to tap into the full digital potential. Conclusion - In order to effectively promote the digital transformation of SMEs, we suggest that SMEs pay attention to digital capability building, make good use of digital platforms and network resources, and lay a solid foundation for digital transformation; meanwhile, we suggest that government departments play a guiding and supporting role to build a cross-industry and cross-sector digital synergy system to help promote the development of SMEs' digital transformation. This paper presents some suggestions from both the internal and external environment of the enterprise, with the expectation of contributing to the digital transformation practices of SMEs.

• Asia-Pacific Journal of Business
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• v.14 no.1
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• pp.231-246
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• 2023

Purpose - This study attempts to provide a new theoretical perspective on the quality signaling and its impact on a market under information asymmetry, focusing on how the accuracy and the cost of quality signaling affect sellers' and buyers' profit, suggesting appropriate designs of quality signaling methods which mitigates information asymmetry. Design/methodology/approach - In order to examine the effect of quality signaling on strategic interactions within the market, we establish an analytic model where market outcomes are determined by seller's quality claim and price, and buyers are risk-neutral. By investigating this analytic model through relevant game trees, we find the subgame perfect Nash equilibria of the market and predict related market outcomes based on sellers' quality signaling strategy. Findings - Our analytic model shows counterintuitive results that seller profit will be the lowest with inaccurate quality signaling and the highest with no quality signaling, mostly due to the certification cost. Consequently, sellers should proceed with caution if the quality signaling is less than accurate, as it may backfire. We believe that this is due to the fact that the inaccuracy of quality signaling causes some confusion and uncertainty in both sellers and buyers' decision to maximize profit, making it hard for sellers to predict buyers' behavior. Research implications or Originality - Although the sources and types of quality signaling errors have been investigated in the literature, there has not been satisfactory understanding regarding how inaccuracy of quality certification affects specific market outcomes. We expect that our theoretical model would provide important implications on how to utilize quality signaling to solve adverse selection issues in markets under information asymmetry.

• Asian Journal of Business Environment
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• v.14 no.1
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• pp.1-13
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• 2024

Purpose: This study explores the level of relevance of liability of foreignness (LOF) in foreign firms' decision to relocate or to expand their regional headquarters (RHQ) in Singapore. Research design, data and methodology: The research question is: what are the mitigating factors of LOF for RHQs operating in Singapore? This explorative study uses various resources from the government agencies: Singapore Economic Development Board such as annual reports between 2012 and 2022, investment programs and published interviews with RHQ's CEOs, Singapore Department of Statistics such as economic, socio-economic and investment data. Results: My study shows that years of nation-building toward a world-class infrastructure, identifying key-industries and conscientiously enhancing workforce skills and competency, developing and reviewing investment programs to attract and retain RHQs were the mitigating factors of LOF. Conclusion: This implies a low level of relevance of LOF in foreign firms' strategic choice to relocate or to expand their regional headquarters to Singapore. As such, the steady growth of multinational enterprises' (MNEs) RHQs in Singapore presents a challenge to the theoretical postulation of LOF positing that foreign firms are discriminated in host country-environment. As a result, incurring additional costs operating in an unfamiliar environment manifested by varying responses from the local actors. Singapore is a case in point.

• Journal of Distribution Science
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• v.22 no.6
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• pp.69-81
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• 2024

Purpose: Small airports are social and economic enablers and facilitate businesses and individuals. They contribute significantly to the distribution and logistics of the local produce - be it goods or services, thereby impacting the economy but have limited access to funds and poor management restricts their development. Despite the importance, small airports in small cities struggle financially as they are unable to earn profits and have higher operating costs. In other words, this is a paradoxical situation for small airports wherein, despite losses, the regional or national public authorities still finance such airports under socio-economic obligations. Therefore, this study aims to identify the critical success factors for improving small airports' performance and propose a business model. Research design, data and methodology: Using the qualitative research, interviews with 16 stakeholders from Guwahati, Tirupati, Bhubaneswar and Dehradun airports in india were examined. Results: The analysis reveals strategic planning and low cost, non-passenger services, and development of airport economic region as the main factors contributing towards small airports' success. Additionally, providing logistics to the local businesses and creating niche markets are suggested. Conclusions: Small airports, based on their services and the means of targeting customers, could select the relevant approach to improve their overall performance and improve profitability.

• The Journal of Industrial Distribution & Business
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• v.15 no.7
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• pp.1-9
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• 2024

Purpose: This research adopts the SERVQUAL and LSQ frameworks to examine the correlation between return reverse logistics service quality of the JD platform and customer satisfaction, as well as the linkage between consumer satisfaction and repurchase intention. Research design, data and methodology: A comprehensive literature review on both domestic and international logistics service quality has been conducted. Considering the unique aspects of JD's return reverse logistics services, an evaluation framework with 5 dimensions and 21 indicators is formulated, including communication, information, return process, empathy, and convenience. A conceptual model exploring the influence of JD's reverse logistics service quality on customer repurchase intention is developed, proposing six hypotheses. For this investigation, 358 valid questionnaires were collected, processed, and analyzed using SPSS 22.0. The structural equation modeling was conducted and validated through AMOS 21.0 software. Results: Following a thorough analysis of data, it reveals that: (1) Information quality, return process quality, and empathy significantly enhance customer satisfaction. (2) Customer satisfaction positively impacts repurchase intention. Conclusion: Based on these findings, three strategic recommendations are offered for e-commerce platforms with in-house logistics systems. The research also discusses limitations and future research directions.

• Asia-Pacific Journal of Business
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• v.14 no.4
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• pp.115-128
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• 2023

Purpose - Due to the spread of COVID-19, non-face-to-face transactions are widely growing. In particular, the development of streaming and network technology has rapidly grown the one-person broadcasting market, an influencer market using YouTube and Instagram. However, prior research on the influencer in Mogolian market is very scarce. Therefore, this study aims to identify the factors influencing consumer purchasing behavior in Mongolian market. Design/methodology/approach - We tested a research model of our study through the analysis using survey data of experienced users in Mongolian influencer market. In this study, reliability test and factor analysis, multiple regression were conducted using SPSS. Findings - We found that the characteristics of an influencer and contents in Mogolian market are positively related with brand reliability and contents authenticity, respectively. In addition, the brand reliability and contents authenticity are positively associated with the customer's purchase intention. Research implications or Originality - Since it is the first study of the influencer market in Mongolia, it is expected that it will serve as a guide study for the follow-up studies in the future and serve as a reference for the strategic direction of related companies.

• Journal of Distribution Science
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• v.22 no.4
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• pp.91-104
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• 2024

Purpose: The study aims to assess the current status of domestic public food delivery apps and analyze the process through which sellers choose between private delivery apps and public delivery apps. This involves exploring strategiesto achieve the original purpose of public food delivery apps, which is to enhance the small business owners income and promote consumer welfare by preventing the monopoly of private food delivery apps. Research design, data and methodology: the research methodology is based on a model that introduces adjustments for non-economic effects, considering the preferences of multi-homing consumers, to more realistically reflect the benefits of sellers' choices. For data analysis, real business performance data from 'Daeguro', 'Meokkaebi', and 'Somunnan Shop' were used. Results: The study revealed that if the market share of public delivery apps within a specific region increases beyond a certain level, the benefits for small-business sellers also increase. This leads to the strategic advantage of simultaneously using both delivery apps. Furthermore, the results exhibit a tendency similar to real social phenomena. Conclusions: This analysis confirmed the role of public food delivery apps in the domestic delivery app market and presents policy recommendations, including application integration and the implementation of exclusive public interest functions, to effectively fulfill this role.

• Journal of Intelligence and Information Systems
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• v.16 no.4
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• pp.43-65
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• 2010

Facing a complex environment driven by a decade, many companies are adopting new strategic frameworks such as Customer Relationship Management system to achieve sustainable profitability as well as overcome serious competition for survival. In many business areas, CRM system advanced a great deal in a matter of continuous compensating the defect and overall integration. However, pharmaceutical companies in Korea were slow to accept them for usesince they still have a tendency of holding fast to traditional way of sales and marketing based on individual networks of sales representatives. In the circumstance, this article tried to empirically address current status of CRM system as well as the effects of the system on the performance of pharmaceutical companies by applying BSC method's four perspectives, from financial, customer, learning and growth and internal process. Survey by e-mail and post to employers and employees who were working in pharma firms were undergone for the purpose. Total 113 cases among collected 140 ones were used for the statistical analysis by SPSS ver. 15 package. Reliability, Factor analysis, regression were done. This study revealed that CRM system had a significant effect on improving financial and non-financial performance of pharmaceutical companies as expected. Proposed regression model fits well and among them, CRM marketing information system shed the light on substantial impact on companies' outcome given profitability, growth and investment. Useful analytical information by CRM marketing information system appears to enable pharmaceutical firms to set up effective marketing and sales strategies, these result in favorable financial performance by enhancing values for stakeholderseventually, not to mention short-term profit and/or mid-term potential to growth. CRM system depicted its influence on not only financial performance, but also non-financial fruit of pharmaceutical companies. Further analysis for each component showed that CRM marketing information system were able to demonstrate statistically significant effect on the performance like the result of financial outcome. CRM system is believed to provide the companies with efficient way of customers managing by valuable standardized business process prompt coping with specific customers' needs. It consequently induces customer satisfaction and retentionto improve performance for long period. That is, there is a virtuous circle for creating value as the cornerstone for sustainable growth. However, the research failed to put forward to evidence to support hypothesis regarding favorable influence of CRM sales representative's records assessment system and CRM customer analysis system on the management performance. The analysis is regarded to reflect the lack of understanding of sales people and respondents between actual work duties and far-sighted goal in strategic analysis framework. Ordinary salesmen seem to dedicate short-term goal for the purpose of meeting sales target, receiving incentive bonus in a manner-of-fact style, as such, they tend to avail themselves of personal network and sales and promotional expense rather than CRM system. The study finding proposed a link between CRM information system and performance. It empirically indicated that pharmaceutical companies had been implementing CRM system as an effective strategic business framework in order for more balanced achievements based on the grounded understanding of both CRM system and integrated performance. It suggests a positive impact of supportive CRM system on firm performance, especially for pharmaceutical industry through the initial empirical evidence. Also, it brings out unmet needs for more practical system design, improvement of employees' awareness, increase of system utilization in the field. On the basis of the insight from this exploratory study, confirmatory research by more appropriate measurement tool and increased sample size should be further examined.