• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.13 no.3
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• pp.37-46
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• 2018

This paper define the research problem as the jeopardized situation of most startups in early chasm. Korean government have put more policy focus on helping these startups to jump over the chasm. One of the effective policy measures helps these startups defining the core competencies validated from target customers, in-housing them effectively, and therefore enhancing the level of differentiation against the competitors by "Product Pivoting Training Boots Camp." It ultimately give the key nudge to startups in struggling with unsold products after initial launch to the market. This paper carried out the empirical test to the target sample of startups participating in this camp. In particular, this research analyze the level of satisfaction of startups, as move along with characteristics of the participant and training program, going through this camp whether it enhance their will of application into real business case. The survey were delivered and collected from 203 startups in attending "Product Pivoting Academy, the following program of Startup Jump-up package policy module. The research result shows that all startups participating in this academy were so much satisfied and motivated strongly to take the training process into applying real business case in order to increase sales. The quality of the training program and the characteristics of the participants had mediating variable effects on the will of application with respect to the level of satisfaction. It imply that the program should put more attention on improving coaches' nudge and learning motivation of participants to enhance the level program satisfaction.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.11 no.4
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• pp.1468-1474
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• 2010

The establishment of a successful business must be preceded by comprehensive entrepreneurial preparation and research, as well as the development of a truly attractive business idea. Research to-date has tended to be based solely on factors relating to entrepreneurial activity or business performance. Research into the development and evaluation of a business idea has been insufficient. The purpose of this research is to propose a methodology for evaluating the attractiveness of a business idea objectively. This research measures the attractiveness of a business idea by the click through rate (CTR) to a website generated by specific keyword entry into internet search engines. The attractiveness of a business idea can be presented by the formula: number of relevant keyword searches x CTR on search results. As the number of searches for individual keywords is published by the search engines and it is possible to estimate CTRs for specific search results, we can objectively evaluate the attractiveness of a business idea. By analyzing keyword search data and CTRs obtained from search engines over a one month period, 1124 keywords that relate to foreign language education have been identified. A regression formula has also been derived, predicting the click through rate for search results. This research and its findings can be used to raise the success rates of new businesses; proposing objective guidelines for business idea development and evaluation. It is particularly meaningful because it introduces a new methodology to the arena.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.12 no.6
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• pp.1-12
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• 2017

This paper is brought to asses the training effect of KS-QFD boot camp for the companies in the early growth stage. In particular, the focus of research falls on measuring transfer intension of the participants from the early stage companies older than three years old, motivating effect of applying knowledges acquired from KS-QFD training camp into their real business case. KS-QFD program is presented to help company in the early stage companies over three years old of boosting up their sales volume more than 5 times than now for the next 18 months by this training. The training program of KS-QFD is ultimately to design more practical and helpful program to real business and spread out. The research establish model by setting the learner readiness and perceived content validity by doing training design as independent variables, self-efficacy of learner as mediating variable, and transfer intension as dependant variable. Research results shows the following outcomes. First, learner readiness does not have directly effect on transfer intension under keeping statistical significance. But as the parameter of self-efficacy, it has perfect mediating effect. Second, research proves that perceived content validity have directly impact on learning transfer intension of mediating by self-efficacy partially. This research contributes on proving that learning by doing KS-QFD boot camp enable the participants to build up their self-efficacy and lead to enhance transfer intension. In more steps, the research validates that KS-QFD training camp have delivered very practical and helpful on-site knowledge to the participants.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.17 no.4
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• pp.106-121
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• 2016

While economic crises are happening internationally due to the global financial crisis and the long-term recession of the domestic economy, South Korea is also experiencing an aging society with the retirement of the baby-boomers and a low birth-rate. The rapid retirement of baby-boomers, which is one of the essential parts of the Korean economy, is ongoing. Consequently, the number of seniors showing interest in entrepreneurship, as a way to avoid the economic threat, is increasing. Therefore, this study examined the correlation between two factors and its success, which can be stated as the influence of decision making in entrepreneurship and the influence of promotion policies to entrepreneurship. A survey was taken from 393 people, who received academic and managerial assistance from the Senior-Founded Support Center of Small Business Market Corporation and Adults Incubators of Seoul-Business Agency. and 'Hypothesis 1-1' and 'Hypothesis 2-2' were selected, because a positive effect was derived at each verification process. As a result, under the decision making types of entrepreneurship, only a reasonable type showed a positive effect at both the financial outcome and non-financial outcome of success, and the intuitive type was affected positively by the non-financial outcome. In addition, under the entrepreneur supporting business, among financial support, managerial support and educational support only managerial support had a positive effect.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.22 no.6
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• pp.197-206
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• 2021

There is growing interest in the function and role of public research institutes as "entrepreneurial actors" that can contribute to industrial development by commercializing excellent research outputs. On the other hand, their performance in the commercialization phase is insufficient because of the insufficient technological technology readiness level or repeatability. This study conducted probit model analysis to examine the effect of the technology readiness level and commercialization activities on the success of technology commercialization. The results showed that the possibility of success in technology commercialization increased with increasing TRL at the time of acquisition. In addition, the difference between the TRL at the time of acquisition and the current TRL (TRL Gap) does not affect technology commercialization on its own. It generates additional effects in conjunction with the TRL at the time of acquisition. Finally, the results show that technology commercialization is most likely to succeed if technology with a TRL 4-6 level is improved to TRL 9 level through a marginal effect estimation.

• Journal of Distribution Research
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• v.17 no.3
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• pp.1-24
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• 2012

Franchises have recently emerged as the most rapidly expanding industry positioned to create a large impact in the domestic economic. The Chinese franchise industry developed rapidly in the period prior and subsequent to WTO accession with more than 50% of new franchises brands emerging since 2000. M&A transactions in the Chinese franchise industry have progressed actively. In the period from 2005-2007, due to the wholesale and retail market opening in accordance with the guidelines laid forth within the MOU by the WTO the Chinese franchise market is now the largest market in the world all despite a short history of only 20 years. The amount of franchise market research on China is disproportional to its current size and development potential. Beginning in the 1990s, market research conducted by the International Franchise Association focused on emerging markets in Eastern Europe and China. While the research dealt with the Chinese investment environment, it insufficiently explained the market region and cultural environment. The purpose of this research is (i) to investigate the determinants of the performance of franchise systems in China and (ii) new contract renewals based on performance factors. This study will complement existing research in terms of the franchisee perspective. This study may also prove of the benefit to the franchise companies entering the Chinese franchise market enabling them to develop an effective strategy. This study shows that support, incentives, and system standardization by franchisor yielded a positive effect on management performance. This is consistent with previous studies by Shin (2000) and Kim (2008) targeting Korean franchises. Therefore, in the Chinese market, the franchisor must focus on support, incentives, and system standardization rather than concentrate only on the recruitment of franchisees in order to improve revenue. Hypotheses regarding franchisor control have been dismissed in existing research, in the opinion of this study, due to their complexity and inability to control the merchant as a one-kind-assessment-standard. Our findings show that the franchisees' financial condition, management ability and entrepreneurial spirit, among franchisee's characteristics, have a positive effect on franchisor's business performance and satisfaction for the franchisee. This is consistent with previous studies on headquarters' management performance of Lussier (1996), Heo and Jang (2008), and franchisees' financial condition, management ability and entrepreneurial spirit effect on franchisor's satisfaction of Weaven and Franzer (2007), Kim (2009), Han (2009), and Yoon etc. (2008). Therefore, when permitting a franchisee, financial condition, management ability, entrepreneurship of the franchisee should be carefully considered. Among relational factors between franchisor and franchisee, trust has the positive influence on the management performance of the franchisor while conflict has a negative effect. However, trust, commitment and conflict factors have been shown not to have any impact on the satisfaction of the franchise headquarters. This result is consistent with the previous studies of Pavlou and Ba (2000), Morrison (1999), Weaven and Frazer (2007), Kim and Park (1994), Sohn (2007) which show that trust between franchisor and the franchisees have a positive effect and that conflict has a negative impact on franchisor's management performance. Other factors causing a negative effective on the franchisor's management performance are a rapid environmental changes and uncertainty in the business. This is consistent with Campbell et al (2007), Kim and Kim (2009), Han and Baek (2008). Finally, the high management performance and satisfaction of the franchise headquarters has a positive effect on the intention of franchise renewal. In the case of large markets such as China, the franchisor's strategy and the role is very important. In this study, we also investigated the characteristics of franchisor and franchisee, relationship, and environmental uncertainty affecting on the management performance and satisfaction of franchisor. Recently, Korean franchises are attempting to enter foreign markets through the rise in popularity of Korean culture and entertainment commonly referred to as the Korean wave. This study provides recommendations for Korean franchises intending on entering the Chinese market. First, in order to achieve stable profits, the franchise corporation needs to support the operation of the individual franchisee through incentives and standardization of services. Second, because trust between the franchisor and franchisee has a positive effect on management performance, on-going discussion and cooperation is necessary to reduce the level of conflict.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.15 no.1
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• pp.17-29
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• 2020

In recent years, universities, with their intellectual properties and human resources, become main drivers for technology transfer. Universities in Korea have various organizations to support the technology transfer and commercialization. Among them, a technology holding company plays the critical role to successfully implement the task. Nonetheless, the performance of the technology holding company is well below the expectation of industry, government and universities themselves. The lack of expertises and experience together with the ill-suited government policies could be attributable to the observed under performance. More recently, however, the technology holding company acts as an accelerator or venture capital to search and fund promising start-ups. The university venture capital thus transforms a traditional university into an entrepreneurial university. Focusing on the role of the technology holding company as an accelerator or venture capital, the paper analyzes the characteristics of the university venture capital and the invested start-ups. The performance of the university venture capital is measured and the determinants of the performance are empirically tested. The results show that the co-investment of outside investors and the support of government program, known as Tech Incubator Program for Startup Korea, yields the highest performance. The result indicates that the coordination of the university venture capital, industry and government is the key to the success of early start-ups. The paper is the first to analyze the performance of the university venture capitals in Korea and thus contributes to the literature.

• International Commerce and Information Review
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• v.13 no.4
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• pp.435-462
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• 2011

Increased attention has worldwide been given to exporting SMEs pursuing the rapid internationalization from their inception. In spite of the limited resources, exporting SMEs have entered in global markets successfully and then improve their internationalization performance. Nevertheless, there is little empirical research regarding internationalization in exporting SMEs, Using a survey of 317 exporting SMEs, this study designated organizational, entrepreneurial, environmental, and technological characteristics as determinants of internationalization performance as well as investigates empirically the relationships among the determinants of internationalization performance, export Support programs of the government, and internationalization performance. According to the results of the study, firstly, R&D capacity, globalization-orientation, international market environment, and technological characteristics (e.g. technological capacity and imitation) have significant effects on international performances. Finally, it is found that export support programs moderated the relationships between market information management, R&D capacity, management capacity, international market information, and technological capacity, and internationalization performance. Above results indicate that if exporting SMEs would not use export support programs effectively, they could not improve internationalization performance. As well, several implications for researchers and practitioners, limitation of this study and future direction were suggested.

• The Journal of the Korea Contents Association
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• v.11 no.3
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• pp.351-367
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• 2011

Few previous researches have been studied in terms of franchisees' perceptions of franchisors' entrepreneurial activities within the boundary of restaurant franchising industry settings. The sampling frame for this study included 605 restaurant franchisees in the business-format franchising system in Korea and data were collected from 1 October 2009 to 28 February 2010. This study, from franchisees' views, investigated the relationship among franchisors' entrepreneurship, external environment, organizational structure(mechanistic-organic) and managerial performance, with structural equation modeling(SEM). The research findings were, firstly, external environment positively affected entrepreneurship which positively affected market orientation and managerial performance, and secondly, market orientation made franchisors select organic structure and heighten managerial performance. Also, external environment led franchisors to adopt organic structure and aggravated their managerial performance. The implications of these findings were as follows. Firstly, the more franchiors had initiatives, innovatedness and risk-taking attitudes, the higher they had managerial performances and market orientation. Secondly, franchisors should keep and heighten market share with keeping in mind with customer orientation, competition orientation, harmony between departments, long-term orientation and profitability. Thirdly, continuous and cautious environmental scanning was necessary because external restaurant environment made organizational structure being changed and managerial performance being aggravated.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.14 no.5
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• pp.13-24
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• 2019

The purpose of this study is to provide a theoretical basis for future studies by systematically integrating existing empirical studies that examine the relationship between the entrepreneurs' competencies and business performance. As the results of empirical studies examining the relationship between the entrepreneurs' competencies and business performance are mixed, this study tries to derive different results from individual studies through meta-analysis into standardized statistics(effect sizes). To accomplish the purpose, this study developed hypotheses about the positive effects of the entrepreneurial competencies including opportunity recognition competency, managerial competency, technical-functional competency, strategic competency, and relationship competencies on the business performance through theoretical reviews of the literature. Also, this study conducted meta-analysis with 15 sample data using open source based statistical program 'R'. The results of this study are as follows. The opportunity recognition competency, managerial competency, technical-functional competency, strategic competency, and relationship competency were found to significantly affect financial business performance. Also, each of the factors had a moderate effect size on the performance. Among these competencies, the most effective factor was the strategic competency, followed by the opportunity recognition competency, technical-functional competency, and relationship competency. There is still no study using meta-analysis on the relationship between the entrepreneurs' competencies and business performance in South Korea. Therefore, the results of this study are expected to provide implications for developing the theoretical basis of future studies.