• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.9 no.6
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• pp.231-244
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• 2014

Domestic recessions, business restructurings, voluntary resignations and youth unemployment crises have fueled competition in the start-up market, and business start-up is increasingly incited as a means to make a living under circumstances. However, ill-prepared business start-ups result in bankruptcy. Profound knowledge and skills are required for successful start-up. A successful entrepreneur of a business is often not born but made. The purpose of this study was to examine the success factors of successful venture entrepreneurs in an effort to make some suggestions on entrepreneurship education. After the characteristics of the selected successful venture entrepreneurs were analyzed, 18 items were selected as their success factors, and the following six things were presented as what should be taken into account in relation to the competency of a successful entrepreneur: First, achievement-needs characteristics and goal-oriented characteristics that belong to the characteristics of entrepreneurs could be educationally taken advantage of in entrepreneurship education. Second, achievement-needs characteristics are an educational element of the preparatory stage, and goal-oriented characteristics are an educational element for business administration after starting a business. Third, hands-on experience is mandatory since learning by experience is quite important for entrepreneurs. Fourth, entrepreneurship education is more effective when it targets the younger generations. Fifth, the kind of educational support that is to assess the entrepreneurship of prospective entrepreneurs to help them improve their overall entrepreneurship is required. Finally, entrepreneurship education should be offered by a person with experience of setting up a business so that he or she could inform learners of their practical experience and knowhow.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.15 no.3
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• pp.1-17
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• 2020

The Fourth Sector has been attracting attention as a means to solve the various problems plaguing modern society; it emerged to overcome the Third Sector's issues such as excessive reliance on the government and service model isomorphism, represented by social economy enterprises (Meadows, 1972; Howaldt & Schwarz, 2010). Social venture companies have been mentioned as key agents of the Fourth Sector (Gyeonggi Research Institute, 2018). However, the academic and policy concepts related to social ventures continue to be vague. Therefore, this study aims to clarify the concept of social ventures as part of the Fourth Sector, and research development strategies for the vitalization of the social venture ecosystem in an effort to encourage inclusive growth of society. To achieve these goals, it establishes the concept of social ventures differentiated from the Third Sector, based on previous studies, and presents the importance of an intermediate support organization for the ecosystem's vitalization. Furthermore, to propose strategies for said vitalization, the study derives detailed forms of social venture intermediate support organizations, and provides suggestions regarding their importance and roles through social innovation levels.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.11 no.5
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• pp.67-75
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• 2016

The financial difficulties which North Korean refugees encounter during the process of transition into South Korean society is due to their low income and insufficient expertise. Hence this research was conducted for the purpose of improving the policy and system to support North Korean refugees' starting of businesses. As a result, the self-efficacy, which is one of the individual characteristics, influences the motivation for starting business. In addition, it has been revealed that the motives and education on starting business also influence the motivation for starting business. By observing regulation effect of social adaptation, it has been found out that the interaction between the personal characteristics such as risk-taking attribute and the previous experience of starting business, along with interaction effect on social adaptation and motives and social adaptation, is statically influencing as well. On the basis of results, to efficiently support North Korean refugees' starting business, it is necessary to conduct education on starting business to boost their self-efficacy and the support must be executed based on their levels of motives, risk-taking attribute and social adaptation.

• Proceedings of the Korean Institute of Information and Commucation Sciences Conference
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• 2022.05a
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• pp.219-221
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• 2022

Seoul Metropolitan City, the world's top 10 cities and Metro City, has traditional urban manufacturing industries such as printing, sewing, and mechanical metals. These manufacturing industries have developed in the form of mutual assistance by forming small business clusters according to detailed industries and processes. Due to the nature of the cluster, logistics between companies for each process in the cluster are being carried out quickly, but it is difficult for relatively small small business owners to prepare order processing services for consumers of finished products. Therefore, it is urgent to introduce an integrated order fulfillment service platform for collective business owners for smooth order and delivery processing. In this paper, we collect and analyze the existing Fulfillment Service data of small business owners in the printing industry among traditional urban industries, and design an artificial intelligence Fulfillment Service Platform system applying CRNN, k-NN, and ID3 Decision Tree algorithm. Through this study, it is expected to greatly contribute to the increase in sales and capacity of small business owners by enabling the use of individual orders and customized delivery services that can be used by any small business owner in the cluster.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.6
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• pp.105-116
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• 2023

While there have been studies on the impact of government financial support on the performance of these enterprises, there is limited research on how entrepreneurs' perceptions of such policies affect business performance. Additionally, there is scarce domestic research on the role of entrepreneurial persistence in achieving and sustaining entrepreneurial goals and its impact on business performance. Therefore, the aim of this study is to analyze how entrepreneurs' perceptions of government policy support affect business performance and to explore the mediating effect of entrepreneurial persistence, shedding light on the significance of perceptions and deepening the understanding of entrepreneurial persistence. This study utilizes entrepreneurs' perceptions of government support for South Korean small and venture enterprises, and entrepreneurship as independent variables, with entrepreneurial persistence as a mediating variable and non-financial performance of businesses as the dependent variable. Data was collected through surveys targeting founders, CEOs, and executives of small and venture enterprises. After excluding incomplete responses, a total of 205 survey responses were used for hypothesis testing. The results of this study are as follows. First, it was verified that the perception of SME policy support and entrepreneurship have a significant positive impact on business performance. Second, it was verified that entrepreneurial persistence partially mediates the relationship between the perception of SME policy support and entrepreneurship and business performance. The theoretical implications of this study are twofold. First, it highlights the significant positive impact of entrepreneurs' perceptions of policy support on the non-financial performance of small and venture enterprises. This contributes to the theoretical understanding by demonstrating that entrepreneurs' perceptions play a role in affecting business performance, in contrast to previous research that focused on the impact of policy financial support on business performance. Second, this study extends the theoretical understanding of entrepreneurial persistence, a relatively understudied concept in domestic research, by demonstrating its mediating role in the relationship between entrepreneurs' perceptions of government support and, entrepreneurship, and business performance. Practically, the study suggests that to enhance the performance of small and venture enterprises, the government should not only expand policy support but also seek ways to increase entrepreneurs' perceptions of such support.

• Korea Trade Review
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• v.46 no.2
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• pp.161-175
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• 2021

The purpose of this study is to empirically analyze the effect of cultural distance between partner firms on international joint venture performance, focusing on the moderating effects of the conflict resolution techniques and the competitive relationship between partner firms. We tested hypotheses based on joint venture firms that were surveyed which formed by equity investment between Korean and foreign firms in the manufacturing industry. The empirical analysis results of this study are as follows. First, in international joint ventures, the cultural distance between partner firms was found to have a negative effect on the international joint venture performance, and the higher the cultural distance, the lower the joint venture performance. Second, it was found that constructive conflict resolution techniques weaken the negative impact of the cultural distance between partner firms in international joint ventures on the performance of international joint ventures. Third, competitive relationship between international joint venture partners showed no moderating effect on the relationship between cultural distance and international joint venture performance.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.4 no.4
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• pp.71-88
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• 2009

The Korean online gaming industry has seen rapid growth since the boom of information technology (IT) related industries, especially Internet and PC-bang or local area network (LAN) use, throughout the country. Online games are real-time games in which two or more players meet, compete, and cooperate in the same game space using the same communication network. Even though the growth rates of IT-related industries have recently slowed, the growth of the online gaming industry has increased, and Korean firms are expanding their businesses to countries all over the world. However, the online gaming industry is becoming an oligopoly, in which 4-5 leading companies occupy most online gaming markets. This situation presents a disadvantage to the Korean online gaming industry, since online players usually seek a diversity of online gaming contents and high quality online game services. Therefore, small- and medium-sized game developers must survive in this market by upgrading the quality of their online gaming services in an effort to provide differentiated goods and services in monopolistic competition markets. However, most venture companies in the online game industry, whether new or previously existing, are not able to obtain adequate financing. The objective of this paper is to examine the management environment for medium- and small-sized game developers in the Korean online gaming industry. By introducing the case of Grigon Entertainment, we try to identify the source of difficulty obtaining external financing for Korean venture firms in the online gaming industry.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.8 no.2
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• pp.21-33
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• 2013

This study analyzes the effects of diversification on business results and enterprise values of KOSDAQ-listed venture companies to inquire into the effective diversification strategies of venture companies after an initial public offering (IPO). In particular, this study used the Berry-Herfindahl index as a proxy variable regarding the level of diversification of venture companies, and categorized the diversification methods into M&As, strategic partnerships and establishment of subsidiaries to analyze the effects of the mutual interaction among such methods. The following is a summary of the results of the analysis. First, diversification did not have any statistically significant effects on business growth. However, it was found that there was an inverted U-shaped relationship between diversification and the profitability of the company. Second, although no statistical significance was found between enterprise values measured based on diversification and market value, a U-shaped relationship or positive relationship was found. Third, M&As were found to moderate the relationship between diversification and business results and enterprise values. Fourth, strategic relationship and establishment of subsidiaries was found to moderate the relationship between diversification and the profit results of the company. Based on the above findings, this study discovered the practical implications regarding the diversification of venture companies after listing on the KOSDAQ.

• Journal of the Korean association of regional geographers
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• v.10 no.4
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• pp.713-726
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• 2004

This paper aims to investigate the characteristics of innovation activities and informal networks of venture companies in Daegu region. The most important knowledge source of them for innovation is in house. The next are customers, competitors, and public supporters. And it was investigated that regional venture companies have participated in 1-5 informal network organizations. They primarily achieve such knowledges as, technologies, new business opportunities, and marketing information, through participation in informal networks. The reasons why they have taken part in informal networks are to get new informations and acquire new business opportunities. Particularly The informal networks between ventures companies and other regional economic actors have helped the regional venture companies to obtain more economic performance and to establish social capital, such as faith, with other economic actors.

• Journal of Venture Innovation
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• v.7 no.2
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• pp.77-99
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• 2024

Small and medium-sized venture companies and small business owners play an important role in the Korean economy. According to the Ministry of SMEs and Startups' statistics survey in 2019, the proportion of all employees of small and medium-sized venture companies in Korea was 89.8%, which is overwhelmingly higher than that of Japan's 77.8% and Taiwan's 76.6%, so job creation for small and medium-sized venture companies in Korea is absolute. Compared to large companies, it is known that it is difficult for small and medium-sized venture companies in Korea to secure a competitive advantage due to low cost competitiveness, difficulties in R&D/marketing due to lack of capital, difficulties in securing networks, and lack of management know-how. Many scholars, including Kerr and Schumpeter, have studied entrepreneurship since the mid-1950s. Recently, research has been conducted in various fields such as business administration, psychology, and economics. However, research on the personal characteristics of CEOs of small and medium-sized venture companies such as entrepreneurial passion and corporate reputation, which is the overall image of companies, is still insufficient, and comparisons of effects between variables between groups (by industry, by pressure, etc.) have not yet been presented. Entrepreneurial passion plays an important role in promoting new business creation, job creation, and economic growth. Therefore, entrepreneurial Cultivating and promoting passion will also contribute to socioeconomic development. These are government policies, educational programs, and social awareness It can be achieved through improvement, etc., and is especially important in the current market conditions where innovation and growth are important. In conclusion Entrepreneurial passion is an important factor that has a positive effect on all individuals, businesses, and society. Therefore, research on entrepreneurial passion is It is an essential task to maximize these positive effects. In this study, in order to overcome the limitations of existing studies, entrepreneurs' Whether entrepreneurial passion, which is a personal characteristic, affects competitive advantage, absorption capacity and product and process innovation capabilities are Whether there is a mediating effect between entrepreneurial passion and competitive advantage. Finally, in the relationship between entrepreneurial passion and absorption capacity. The corporate reputation verifies whether it has a moderating effect, etc., and compares the influencing factors between variables by industry and pressure. It is intended to be verified empirically. In this study, 2023 conducted by the Small and Medium Business Distribution Center under the Ministry of SMEs and Startups for 312 CEOs of small and medium-sized venture companies and small business owners who participated in the online market support project for small and medium-sized venture companies and small business owners, December 2023 Survey and analysis were conducted from 1st to 20th, and the analysis used Smart PLS 4.0 to determine the impact on the relationship between variables. It was empirically verified. As a result of the study, it was found that entrepreneurial passion had a positive effect on absorption capacity, and the product was found And it was found to have a positive effect on process innovation capability and competitive advantage. In addition, the higher the corporate reputation, the more entrepreneurial it is. It was confirmed that passion had a greater effect on absorption capacity.