• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.18 no.3
• /
• pp.127-139
• /
• 2023

During the process of preparing for and initiating a startup, startup entrepreneurs allocate a significant amount of time to developing a business plan. Within this process, the documented business plan serves not only as a roadmap for the venture but also as a communication tool for capital acquisition and internal team collaboration. However, is the business plan, meticulously crafted by entrepreneurs, actually effective in generating startup performance? To answer this question, this study empirically analyzed the impact of a business plan on startup performance. Additionally, it examined how the relationship between the business plan and performance changes based on the satisfaction levels of entrepreneurs regarding the business plan. Through the analysis, the study validated the influence of the completeness of the business plan and entrepreneurial satisfaction on startup performance, and derived implications. To conduct the empirical analysis, a survey was conducted among 150 entrepreneurs. Regression analysis was performed to examine the relationship between the completeness of the business plan and performance, and the sample was further divided into two groups: startups with less than three years of operation and startups with three or more years of operation, for secondary analysis. The analysis results revealed that the completeness of the startup's business plan has a positive impact on both financial and non-financial performance. Furthermore, it is observed that the entrepreneur's satisfaction with the business plan had a moderating effect on the relationship between the business plan and financial performance. Moreover, for startups that are less than three years old, the entrepreneur's satisfaction with the business plan exhibits a moderating effect on the relationship between the completeness of the business plan and non-financial performance. This study holds significance as it reaffirms the importance of business plan development as a means to achieve sustainable growth for early-stage startups and empirically validates its significance. It is expected that this study will provide valuable insights for future startup entrepreneurs to better understand the importance of business planning and contribute to reducing the failure rate of early-stage startups.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.18 no.3
• /
• pp.157-172
• /
• 2023

The recent Fourth Industrial Revolution is accelerating changes due to digital transformation. According to this trend, the existing start-up paradigm is changing, and new business models based on new technologies and creative ideas are emerging. In addition, the diversity of mentoring relationships and environments such as online mentoring, reverse mentoring, group mentoring, and multiple mentoring is also increasing. However, most mentors in their 50s and 60s, who are mainly active in the start-up field, have been able to help mentees a lot based on their own experience and expertise, but they are having difficulty responding to the changing environment due to a lack of understanding and experience of new technologies and environments. To cope with these changes well, mentors must constantly study, acquire and apply the latest technologies to improve their understanding of new technologies and the environment. In addition, it is necessary to have an understanding and respect for the diversity of mentoring relationships and environments, and to maximize the effectiveness of mentoring by actively utilizing them. Therefore, mentors should recognize that they directly affect the growth and development of mentees, constantly acquire new knowledge and skills to maintain and develop expertise, and actively deliver their knowledge and experiences to mentees. Therefore, in this study, was tried to empirically analyze the relationship between mentoring's influence on mentor's job satisfaction through mentor's personal learning and self-efficacy. The results of the empirical analysis were as follows. Among the functions of mentoring, career function and role modeling were found to have a positive effect on both personal learning and self-efficacy, which are parameters, and job satisfaction, which is a dependent variable. On the other hand, psychological and social functions have a positive effect on personal learning, but they do not have an effect on self-efficacy and job satisfaction. In addition, as a result of analyzing the mediating effect, all mediating effects were confirmed for career functions, and only the mediating effect of self-efficacy was confirmed for role modeling. Through this study, mentoring is an important factor in promoting job satisfaction, personal learning and self-efficacy, and this study can be said to be academically and practically meaningful in that it confirmed personal learning and self-efficacy as factors that increase mentor's job satisfaction, and the focus of mentoring research was shifted from mentee to mentor to study the impact of mentoring on mentors.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.17 no.1
• /
• pp.157-175
• /
• 2022

At this moment, a paradigm shift is taking place across all sectors of society for the transition movements to the digital economy. Various movements are taking place in the global agricultural industry to achieve innovative growth using big data which is a key resource of the 4th industrial revolution. Although the government is making various attempts to promote the use of big data, the movement of the agricultural industry as a key player in the use of big data, is still insufficient. Therefore, in this study, effects of performance expectations, effort expectations, social impact, facilitation conditions, based on the Unified Theory of Acceptance and Use of Technology(UTAUT), and innovation tendencies on the acceptance intention of big data were analyzed using the economic and practical benefits that can be obtained from the use of big data for agricultural-related companies as moderating variables. 333 questionnaires collected from agricultural-related companies were used for empirical analysis. The analysis results using SPSS v22.0 and Process macro v3.4 were found to have a significant positive (+) effect on the intention to accept big data by effort expectations, social impact, facilitation conditions, and innovation tendencies. However, it was found that the effect of performance expectations on acceptance intention was insignificant, with social impact having the greatest influence on acceptance intention and innovation tendency the least. Moderating effects of economic benefit and practical benefit between effort expectation and acceptance intention, moderating effect of practical benefit between social impact and acceptance intention, and moderating effect of economic benefit and practical benefit between facilitation condition and acceptance intention were found to be significant. On the other hand, it was found that economic benefits and practical benefits did not moderate the magnitude of the influence of performance expectations and innovation tendency on acceptance intention. These results suggest the following implications. First, in order to promote the use of big data by companies, the government needs to establish a policy to support the use of big data tailored to companies. Significant results can only be achieved when corporate members form a correct understanding and consensus on the use of big data. Second, it is necessary to establish and implement a platform specialized for agricultural data which can support standardized linkage between diverse agricultural big data, and support for a unified path for data access. Building such a platform will be able to advance the industry by forming an independent cooperative relationship between companies. Finally, the limitations of this study and follow-up tasks are presented.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.17 no.5
• /
• pp.49-65
• /
• 2022

This study conducted an exploratory study based on in-depth interviews to understand the characteristics and capabilities of female entrepreneurs to promote women entrepreneurship. Therefore, in this study, through in-depth interviews with eight female entrepreneurs, the main contents of entrepreneurial attitudes (need for independence, development desire, favorable conditions), start-up entry rate, start-up motivation, start-up activities and constraints were analyzed. As a result, first, it was found that the entrepreneurial attitude of female entrepreneurs has a strong motivation for successful management based on a feeling of self-satisfaction, has characteristics that prioritize independence and self-actualization, and favorable conditions for starting a business are important. Second, it was found that women's individual differences from men and social structural factors had no significant effect on the entry rate of women. Third, it was found that the most important entrepreneurship motivation for women is the spirit of challenge, self-satisfaction, and the desire to balance work and family. Fourth, female entrepreneurs showed little difference in perception between male and female entrepreneurs in terms of resource access, but there was some discrimination in the network. Fifth, the main industries of female entrepreneurs are small businesses, and there is a tendency to be concentrated in industries with low profit margins and low growth and sales. Finally, it was found that barriers to women's entrepreneurship still exist. Based on the results of this study, the following implications are suggested. First, this study is differentiated in that it mainly identified the characteristics of women's experiences and social environments while starting a business and running a business. Second, in the case of female entrepreneurs, there is a need to spread a positive awareness of women entrepreneurship by arguing that the barriers to entrepreneurship unique to women are not high and can be sufficiently overcome. Lastly, although opportunistic start-ups based on women's social experience or management ability in work life are important for women's entrepreneurship, government support policies are needed to promote professional technology start-ups.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.17 no.4
• /
• pp.87-100
• /
• 2022

Early start-up companies have an inherent limitation of lack of resources. Despite these limitations, in order to survive, the entrepreneur's personal ability to efficiently use limited resources is required. In the marketing field, various studies are needed to reduce the business failure rate through establishing growth strategies and innovation. Accordingly, it is necessary to apply the concept of entrepreneurial marketing, which has been researched and developed overseas for 30 years, to fit the domestic reality. According to the flow of this study, an empirical study should be preceded to clarify the influence relationship between entrepreneurial marketing orientation, marketing competency, and management performance, along with a theoretical theorem on entrepreneurial marketing that is suitable for early start-ups and small and medium-sized enterprises(SMEs) and can respond innovatively to changes. The establishment of entrepreneurial marketing orientation and the processes from which this concept leads to business performance through the organization's marketing capabilities and its effects will be empirically verified. For an empirical survey, a survey was conducted on founders of 220 companies, and path analysis using structural equations was used for hypothesis verification. The findings are as follows. First, it was found that the entrepreneurial marketing orientation had a positive effect on both the organization's marketing capabilities and management performance. Second, it was found that the organization's marketing capabilities also had a positive effect on management performance. Third, as a result of empirical analysis of the mediating effect of the organization's marketing capabilities on the relationship between entrepreneurial marketing orientation and management performance, it was found that marketing capabilities showed a greater mediating effect on non-financial performance than financial performance. On the other hand, it was confirmed that marketing performance had a stronger mediating effect on financial performance than non-financial performance. By confirming and presenting the concept and constituent factors of entrepreneurial marketing orientation of domestic start-ups, which were academic gaps for the purpose of this paper, the academic research is differentiated in that they were verified as six components of entrepreneurial marketing. The practical implications of the research results will be that the entrepreneurial marketing-oriented mindset of small and medium-sized companies will optimize market analysis capabilities, network with various stakeholders, and increase the organization's ability to demonstrate marketing capabilities.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.17 no.3
• /
• pp.201-214
• /
• 2022

This study theoretically and empirically examined whether organizational communication mediates the effect of organizational learning culture perceived by members in the organization on task performance and contextual performance. Organizational learning culture is defined as a culture that is good at creating, acquiring, transferring, and modifying behavior to reflect new knowledge and insights. The hypothesis of this study is that the perceived organizational learning culture can increase performance through organizational communication between members. In particular, we measured communication within the organization into three types: upward, horizontal, and downward. These communications were set as mediating variables. In empirical studies, independent variables were perceived organizational learning culture, mediation variables were upward, horizontal and downward communication, and dependent variables were task performance and contextual performance. Hypothesis 1 is that the organizational learning culture will have a positive effect on employees' tasks and contextual performance. Hypothesis 2 is about the mediating effect of communication on the relationship between Hypothesis 1. In the empirical study, after verifying the validity and reliability of the research variables, correlation analysis and hypothesis verification were conducted. Hypothesis 1 was verified through regression analysis, and all detailed hypotheses were supported. To verify Hypothesis 2, we conducted a bootstrap test using process macro to separate the total, direct, and indirect effects and examine the significance of the indirect effects. As a result, Hypothesis 2 was partially supported. Downward communication mediated organizational learning culture and task and contextual performance, and horizontal communication mediated organizational learning culture and contextual performance. The mediating effect of upward communication was not significant. The results of this study contributed to the suggestion of implications, research limitations, and research directions. Organizational learning culture is the direction and intention of the organization to achieve its goals through the learning and growth of its members. By strengthening internal motivation, organizational members can take voluntary desirable actions that help groups and organizations as well as essential tasks given. since this relationship appears as a medium of downward communication, organizations can strengthen the relationship between organizational learning culture and performance through leadership education.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.17 no.3
• /
• pp.103-117
• /
• 2022

The recent corporate economy, such as the COVID 19 pandemic that has spread all over the world since the beginning of 2020, the acceleration of the 4th industrial revolution, and supply chain management risks triggered by the US-China conflict and the Ukraine crisis, is more serious than ever before. CEOs who have started and managed small and medium-sized enterprises (SMEs) are more concerned than ever about the sustainability of their businesses in this reality. Nevertheless, there were few empirical studies on the factors that influence the intention of SME CEOs to discontinue business. In this study, the perception of the business environment of SMEs (intensity of competition in key business areas, difficulty in manpower management), corporate competency (employee competency, company product or service competitiveness, supply chain and consumer relations, digital competency and technical expertise), and CEO's competency(trust between employees and the CEO, management competency and perceived health status of CEO) on CEO's intention to discontinue business was discussed. As a result of the study, the intensity of competition in the main business field, and the difficulty in manpower management had a positive (+) effect on the intention to discontinue the business, and the employee competency, product (service) competitiveness, digital competency of the company, and the CEO's Health status had a negative (-) effect on intention to discontinue business. The relationship between these influences was found in the order of CEO's health status, product competitiveness, employee competency, digital competency, competitive strength in the main business, and difficulty in manpower management. It was analyzed that supply chain and consumer relations, trust between employees and the CEO, and management capabilities did not significantly affect the intention to discontinue business. On the other hand, business confidence has a mediating effect between the intensity of competition in the main business field, the difficulty in manpower management, product or service competitiveness, digital competency, trust between employees and the CEO, and the management capability and intention to discontinue business was tested. This study had academic significance in that it empirically analyzed factors related to intention to discontinue business targeting small and medium-sized business CEOs. In practice, as it has been found that business environment awareness, corporate competency, managerial competency, and business confidence are factors that influence the intention to discontinue business, if an action ideas that can reinforce this part can be found, SMEs can achieve sustainable growth or it may help CEO find an meaningful exit.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.18 no.6
• /
• pp.87-104
• /
• 2023

Recently, concerns are growing over small and medium-sized companies holding out on debt as domestic loan interest rates have risen sharply due to the prolonged impact of COVID-19 and soaring raw material prices. In addition, loans from small and medium-sized enterprises, which are difficult in the business environment, are increasingly being rejected due to high loan interest rates and excessive submission documents and financial statements-oriented screening of loans by the financial sector. Therefore, since it is necessary to discuss ways to promote financing and investment by SMEs, this study intends to suggest ways to promote investment through the use of SMEs' ESG systems. The purpose of this study is to suggest that the use of ESG evaluation indicators used as non-financial indicators helps predict the corporate value of SMEs and the importance of SMEs actively participating in ESG information disclosure. This study suggests the necessity of introducing and practicing ESG by SMEs where financing is important, and aims to analyze as an empirical result that the use of non-financial indicators helps predict corporate value. As a result of the study, the ESG performance and corporate value of SMEs showed a positive (+) relationship. It can be seen that both the grades and corporate value of SMEs by ESG sector have a positive (+) influence relationship. The total ESG rating was confirmed to have a positive effect on corporate value, and it was confirmed that SMEs with higher ESG environment, social, and governance ratings were evaluated higher. According to the research results, it is suggested that SMEs also need to use ESG evaluation indicators, and in order to promote the growth of SMEs, it is suggested that research on ways to re-examine the corporate value of SMEs is necessary. Therefore, this study suggests that the use of ESG should be actively recommended and implemented as a way to establish a management strategy for SMEs, and that efforts to disclose ESG information can soon help SMEs solve information asymmetry. In addition, SMEs want to understand the investment mechanism that the introduction and practice of ESG can lead to the improvement of the value of SMEs and suggest the necessity of SME-type ESG policies in the future.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.18 no.6
• /
• pp.173-189
• /
• 2023

As supreme technologies continue to be developed, industries such as artificial intelligence, biotechnology, robots, aerospace, electric vehicles, and solar energy are created, and the macro business environment is rapidly changing. Due to these large-scale changes and increased complexity, it is necessary to pay attention to the effect of social capital, which can create new value by utilizing capital increasing the importance of relationships rather than technology or asset ownership itself at the level of start-up strategy. Social capital is a concept first proposed by Hanifan in 1916, and refers to the overall sum of capabilities or resources that are latent or available for use in mutual, continuous, organic relationships or accumulated human relationship networks between individuals or social members. In addition, the diversity of start-up teams with diverse backgrounds, characteristics, and capabilities, rather than one exceptional founder, has been emphasized. Founding team diversity refers to the diversity of in-depth factors such as demographic factors, beliefs, and values of the founding team. In addition, changes in the macro environment are emphasizing the importance of technology start-ups and laboratory start-ups that lead industrial innovation and create the nation's core growth engines. This study focused on the I-Corps' program. I-Corps, which means innovation corps, is a laboratory startup program launched by the National Research Foundation (NSF) in 2011 to encourage entrepreneurship and commercialization of research results. It focuses on forming a startup team involving professors, researchers and market discovery activities. Taking these characteristics into account, this study empirically verified the impact of social capital from a network perspective and founding team diversity on I-Corps start-up performance. As a result of the analysis, the educational diversity of the founding team had a negative (-) effect on the financial performance of the founding team. On the other side, the gender diversity and the cognitive dimension of social capital had a positive (+) effect on the financial performance of the founding team. This study is expected to provide more useful theoretical and practical implications regarding the diversity, social capital, and performance interpretation of the I-Corps Lab startup team.

• Journal of Practical Agriculture & Fisheries Research
• /
• v.25 no.4
• /
• pp.118-126
• /
• 2024

Recently, the alternative meat (food) market is growing rapidly due to the increase in meat consumption due to global population growth and income improvement, as well as issues such as equal welfare, carbon neutrality, and sustainability. The government is also developing a green bio convergence new industry development plan to foster alternative foods, but there are difficulties in commercialization due to the lack of technology and insufficient production facilities among domestic small and medium-sized enterprises, so it is necessary to build joint utilization facilities and equipment to resolve the difficulties faced by companies. am. In addition, small and medium-sized enterprises are having difficulty developing and commercializing plant-based meat substitutes due to a lack of technical skills, and related equipment is expensive, making it difficult to build equipment on their own. Accordingly, Jeollabuk-do is pursuing a strategy to secure the source technology for development, processing, and industrialization of plant-based substitute meat at the level of developed countries by establishing a plant-based alternative meat industrialization center. In this study, an economic feasibility analysis study was conducted when a plant-based alternative meat industrialization center is built in Jeollabuk-do. As a result of the analysis, B/C=1.32, NPV=374 million won, and IRR=4.8%, showing that there is economic feasibility in establishing an alternative meat industrialization center. In addition, as a result of analyzing the regional economic ripple effect resulting from the establishment of an industrialization center, if 38 billion won is invested in Jeollabuk-do, the nationwide production inducement effect is 74 billion won, the added value inducement effect is 29.8 billion won, and the employment inducement effect is 672 people