• Journal of Distribution Science
• /
• v.13 no.7
• /
• pp.63-71
• /
• 2015

Purpose - The characteristics of the modern management environment in Korea clearly involve the limitations of knowledge management, globalization, changes in industrial structures, polarization of the economy, consumption, and education, and the demand for creative management. To achieve a continuous competitive advantage for individuals as well as organizations, Wisdom Management can be said to be a paradigm for the current environment. The Research is an alternative to environmental management in the early study of the need to conceptualize the theoretical approach to wisdom management. In other words, it presents a new management paradigm for a business environment of uncertainty and unpredictability. Furthermore, it aims to propose Wisdom Management as an alternative in the modern management environment as well as a topic of discourse. Its purpose is to provide basic knowledge to people who study and practice in this field to strengthen the competitiveness of individuals and companies. Research design, data, and methodology - This paper first provides six characteristics of the current management environment at home and abroad. It then attempts to emphasize the necessity of wisdom based on such characteristics by classifying wisdom according to recent management study research. This allows the derivation of definitions of wisdom management, suggesting its components and properties. Results - The six characteristics of the modern business environment are: 1) limits of knowledge, 2) intensifying globalized competition, 3) changes in industry structure - IoT (Internet of all Things) trend, 4) serious polarization and social unrest diffusion, 5) personal and organizational competitiveness creativity requirements, and 6) domestic special national and social situations. Therefore, accordingly, wisdom can be defined and classified as: wisdom that offers potential integration beyond knowledge, practicing and maintaining knowledge wisdom as an efficient strategy for an organization wisdom as a decision-making process that addresses ambivalence wisdom as the pursuit of common goods based on ethics; and, wisdom as creativity that involves intuition and insight. This paper attempts to define Wisdom Management in accordance with these definitions of wisdom. Wisdom Management is a management system that is awareof the current environment given in the multidimensional perspective, achieves the efficiency of the organization and the goals of common good through an uncertain decision-making process, based on the organization of individual and organizational knowledge, and the internal experiences and resources. Wisdom Management components include human beings, virtue, knowledge, creativity, and ambivalent thinking. Its properties include intentionality, self-destructiveness, creative and ethical reflexivity, complexity, insight, unpredictability, ambivalence, and wholeness. Conclusions - Since all organizations face the limitations of their environment, crises, and opportunities, applying wisdom in management to develop as Wisdom Management can be an inevitable alternative to the uncertainties of the management environment faced by modern society. The conceptualization of Wisdom Management forms a valuable context to further advance knowledge management theory into practice. It is also a cornerstone of strategic management and can provide insight into its potential for success and implementation.

• Journal of Distribution Science
• /
• v.13 no.10
• /
• pp.65-72
• /
• 2015

Purpose - A rapidly changing business environment places great demands on small and medium-sized enterprises (SMEs). These SMEs need to find strategic alternatives for continued growth and, ultimately, survival. Thus, mergers and acquisitions (M&A) are deemed an acceptable solution. Research to date has dealt with M&A in major organizations and focused on post merger integration (PMI). Our study focuses on SMEs, as they are relatively new and unknown to the public. Therefore, this study highlights successful M&A and decision making for SMEs through a case study analysis. Research design, data, and methodology - For this study, we examined an M&A case between company S, which produces cell phone parts, and company P, which produces SSD cases. We reviewed theories and previous studies in M&A literature. We comprehensively examined the decision-making procedure at each M&A stage, describing the situation of the buying company and the selling company from the period of the M&A announcement through deal completion. In addition, we conducted interviews with both companies. The data regarding this case study were collected through interviews with managers of both companies who actively participated in the M&A process. When necessary, we asked them about additional relevant information during the interviews. Results - The result of the M&A between company S and company P was deemed acceptable with the exception of the long negotiation period. However, company S was not able to prepare for PMI after the acquisition due to a controversy over acquisition values. Moreover, the employees of the newly formed company, especially those who came from company P, complained about the M&A and attempted to leave. Thus, implications for successful M&As of SMEs are as follows: First, the procedural compliance of the M&A is needed. Second, support is needed from the CEO for the working group, rather than excessive intervention during due diligence. Third, the right, talented members of the organization should be part of the process of the M&A. Fourth, the use of various types of outside expert or business consultants is needed. Fifth, the strategic intervention by Human Resource managers is required. Last, sharing M&A information among employees is important as information dissemination will help employees be more receptive to such a change. However, this study has several limitations as a single case study; more varied SME M&A case studies are needed in order to generalize the results of the study. Conclusions - Most of the research dealing with M&As has focused on major companies and PMI and neglected SMEs. Thus, our study focuses on SMEs and the decision-making procedures for M&A. This study has significantly contributed to the literature in this area and has provided practical information around the implications of sound decision-making during M&As. Specifically, the results of the study contribute to the need for research on M&A among SMEs, which to date has often been neglected as a topic of choice.

• Journal of Distribution Science
• /
• v.11 no.4
• /
• pp.51-60
• /
• 2013

Purpose - The objective of this paper is to investigate the effect of asset specificity, the level of information sharing, the importance of information sharing, and an integrated collaborative environment on supply chain performance. Research design, data, and methodology - Data collection was implemented as follows: questionnaires were distributed to 250 companies that have business ties with Halla Climate Control Corporation. The empirical study to test our hypothesis was based on statistical analysis (using SPSS 18.0 and AMOS 18.0). The hypothesis of this paper is that the asset specificity variable has positive effects on the following variables: Level of information sharing, the importance of information sharing, and integrated collaborative environment. Moreover the variables, the level of information sharing, and the importance of information sharing are strongly influenced by the variable integrated collaborative environment, and these when combined, have an effect on the dependent variable, supply chain performance. We tested our hypothesized model utilizing path analysis with latent variables. Results - According to the results of our analysis, hypothesis H1, which tests whether there is a relationship between asset specificity and the integrated collaborative environment, is supported at the 0.01 level. Hypotheses H2 and H3 were also confirmed, and asset specificity had positive effects (+) on the level of information sharing variable. The importance of the information sharing variable was statistically significant at the 0.01 level. Hypotheses H4 and H5 posited that the integrated collaborative environment variable would have a positive effect on the level of information sharing; the importance of information sharing variable was strongly supported statistically, with a significant p-value below. Moreover, the level of information sharing (H6), and the importance of information sharing (H7) variables also had a statistically relevant influence on supply chain performance. As a result, existence of a collaborative system between companies would influence supply chain performance by strengthening real-time information access and information sharing. Thus, it is important to construct a collaborative environment where information sharing among companies and cooperation is possible. Conclusions - First, with rapid changes in the business environment, it becomes necessary for enterprises to acquire the right information in order to properly implement SCM. For successful SCM, firms should understand the importance of collaboration with supply chain partners and an internally built collaboration system, which in turn will better promote a partnership commitment with suppliers as well as collaborative integration with buyers. A collaborative system, as we suggest in this paper, facilitates the maintenance of a long-term relationship of trust, and can help reinforce information sharing. Second, it is necessary to increase information sharing over time via a collaborative system so that employees of the suppliers become aware of the system. The more proactive and positive attitudes are towards such a collaborative system by the managerial group, the higher the level of information sharing will be among the users. Successful SCM performance is achieved by information sharing through a collaborative environment rather than by investing only in setting up an information system.

• Journal of Distribution Science
• /
• v.11 no.10
• /
• pp.63-72
• /
• 2013

Purpose - This study analyzes the relationship and dynamic interactions between stock price index, interest rate, price index, and housing price indices using Korean monthly data from 2000 to 2013, based on a VAR model. This study also examines Granger causal relationships among these variables in order to determine whether the time series of one is useful in forecasting another, or to infer certain types of causal dependency between stochastic variables. Research design, data, and methodology - We used Korean monthly data for all variables from 2000: M1 to 2013: M3. First, we checked the correlations among different variables. Second, we conducted the Augmented Dickey-Fuller (ADF) test and the co-integration test using the VAR model. Third, we employed Granger Causality tests to quantify the causal effect from time series observations. Fourth, we used the impulse response function and variance decomposition based on the VAR model to examine the dynamic relationships among the variables. Results - First, stock price Granger affects interest rate and all housing price indices. Price index Granger, in turn, affects the stock price and six metropolitan housing price indices. However, none of the Granger variables affect the price index. Therefore, it is the stock markets (and not the housing market) that affects the housing prices. Second, the impulse response tests show that maximum influence on stock price is its own, and though it is influenced a little by interest rate, price index affects it negatively. One standard deviation (S.D.) shock to stock price increases the housing price by 0.08 units after two months, whereas an impulse shock to the interest rate negatively impacts the housing price. Third, the variance decomposition results report that the shock to the stock price accounts for 96% of the variation in the stock price, and the shock to the price index accounts for 2.8% after two periods. In contrast, the shock to the interest rate accounts for 80% of the variation in the interest rate after ten periods; the shock to the stock price accounts for 19% of the variation; however, shock to the price index does not affect the interest rate. The housing price index in 10 periods is explained up to 96.7% by itself, 2.62% by stock price, 0.68% by price index, and 0.04% by interest rate. Therefore, the housing market is explained most by its own variation, whereas the interest rate has little impact on housing price. Conclusions - The results of the study elucidate the relationship and dynamic interactions among stock price index, interest rate, price index, and housing price indices using VAR model. This study could help form the basis for more appropriate economic policies in the future. As the housing market is very important in Korean economy, any changes in house price affect the other markets, thereby resulting in a shock to the entire economy. Therefore, the analysis on the dynamic relationships between the housing market and economic variables will help with the decision making regarding the housing market policy.

• The Journal of Industrial Distribution & Business
• /
• v.9 no.6
• /
• pp.77-85
• /
• 2018

Purpose - The purpose of this study is to subdivide trade transaction-centered structure in a logistics/distribution industry system to apply blockchain, to establish and resolve with which types of technology, and to provide policy direction of government institution and technology to apply blockchain in this kind of industry. Research design, data, and methodology - This study was conducted with previous researches centered on cases applied in various industry sectors on the basis of blockchain technology. Results - General fields of blockchain application include digital contents distribution, IoT platform, e-Commerce, real-estate transaction, decentralized app. development(storage), certification service, smart contract, P2P network infrastructure, publication/storage of public documents, smart voting, money exchange, payment/settlement, banking security platform, actual asset storage, stock transaction and crowd funding. Blockchain is being applied in various fields home and abroad and its application cases can be explained in the banking industry, public sector, e-Commerce, medical industry, distribution and supply chain management, copyright protection. As examined in the blockchain application cases, it is expected to establish blockchain that can secure safety through distributed ledger in trade transaction because blockchain is established and applied in various sectors of industries home and abroad. Parties concerned of trade transaction can secure visibility even in interrupted specific section when they provide it as a base for distributed ledger application in trade and establish trade transaction model by applying blockchain. In case of interrupted specific section by using distributed ledger, blockchain model of trade transaction needs to be formed to make it possible for parties concerned involved in trade transaction to secure visibility and real-time tracking. Additionally, management should be possible from the time of contract until payment, freight transfer to buyers through land, air and maritime transportation. Conclusions - In order to boost blockchain-based logistics/distribution industry, the government, institutionally, needs to back up adding legal plan of shipping, logistics and distribution, reviewing standardization of electronic switching system and coming up with blockchain-based industrial road maps. In addition, the government, technologically, has to support R&D for integration with other high technology, standardization of distribution industry's blockchain technology and manpower training to expand technology development.

• Proceedings of the Korean Society for Noise and Vibration Engineering Conference
• /
• 2013.04a
• /
• pp.842-848
• /
• 2013

Developments of Solid-State Gyroscopy during last decades are impressive and were based on thin-walled shell resonators like HRG or CRG made from fused quartz or leuko-sapphire. However, a number of design choices for inertial-grade gyroscopes, which can be used for high-g applications and for mass- or middle-scale production, is still very limited. So, considerations of fundamental physical effects in solids that can be used for development of a miniature, completely solid-state, and lower-cost sensor look urgent. There is a variety of different types of bulk acoustic (elastic) waves (BAW) in anisotropic solids. Shear waves with different variants of their polarization have to be studied especially carefully, because shear sounds in glasses and crystals are sensitive to a turn of the solid as a whole, and, so, they can be used for development of gyroscopic sensors. For an isotropic medium (for a glass or a fine polycrystalline body), classic Lame's theorem (so-called, a general solution of Elasticity Theory or Green-Lame's representation) has been modified for enough general case: an elastic medium rotated about an arbitrary set of axes. Travelling, standing, and mixed shear waves propagating in an infinite isotopic medium (or between a pair of parallel reflecting surfaces) have been considered too. An analogy with classic Foucault's pendulum has been underlined for the effect of a turn of a polarizational plane (i.e., an integration effect for an input angular rate) due to a medium's turn about the axis of the wave propagation. These cases demonstrate a whole-angle regime of gyroscopic operation. Single-crystals are anisotropic media, and, therefore, to reflect influence of the crystal's rotation, classic Christoffel-Green's tensors have been modified. Cases of acoustic axes corresponding to equal velocities for a pair of the pure-transverse (shear) waves have of an evident applied interest. For such a special direction in a crystal, different polarizations of waves are possible, and the gyroscopic effect of "polarizational precession" can be observed like for a glass. Naturally, formation of a wave pattern in a massive elastic body is much more complex due to reflections from its boundaries. Some of these complexities can be eliminated. However, a non-homogeneity has a fundamental nature for any amorphous medium due to its thermodynamically-unstable micro-structure, having fluctuations of the rapidly-frozen liquid. For single-crystalline structures, blockness (walls of dislocations) plays a similar role. Physical nature and kinematic particularities of several typical "drifts" in polarizational BAW gyros (P-BAW) have been considered briefly too. They include irregular precessions ("polarizational beats") due to: non-homogeneity of mass density and elastic moduli, dissymmetry of intrinsic losses, and an angular mismatch between propagation and acoustic axes.

• World Technopolis Review
• /
• v.8 no.2
• /
• pp.74-81
• /
• 2019

Cities will soon host two third of the population worldwide, and already today 80% of the world energy is used in the 20 largest cities. Urban areas create 80% of the greenhouse gas emission, so we should take care that urban areas are smart and sustainable as implementations have especially here the greatest impact. Smart Cities (SC) or Smart Sustainable Cities (SSC) are the actual concepts that describe methodologies how cities can handle the high density of citizens, efficiency of energy use, better quality of life indicators, high attractiveness for foreign investments, high attractiveness for people from abroad and many other critical improvements in a shifting environment. But if we talk about Entrepreneurship Ecosystem and Innovation, we do not see a lot of literature covering this topic within those SC/SSC concepts. It seems that 'Smart' implies that all is embedded, or isn't it properly covered as brick stone of SC/SSC concepts, as they are handled in another 'responsibility silo', meaning that the policy implementation of a Science and Technology Park (STP) is handled in another governing body than SC/SSC developments. If this is true, we will obviously miss a lot of synergy effects and economies of scale effects. Effects that we could have in case we stop the siloed approaches of STPs by following a more holistic concept of a Smart Sustainable City, covering also a continuous flow of innovation into the city, without necessarily always depend on large corporate SSC solutions. We try to argue that every SSC should integrate SP/STP concepts or better their features and services into their methodology. The very limited interconnectivity between these concepts within the governance models limits opportunities and performance in both systems. Redesigning the architecture of the governance models and accepting that we have to design a system-of-systems would support the possible technology flow for smart city technologies, it could support testbed functionalities and the public-private partnership approach with embedded business models. The challenge is of course in complex governance and integration, as we often face siloed approaches. But real SSC are smart as they are connecting all those unconnected siloes of stakeholders and technologies that are not yet interoperable. We should not necessarily follow anymore old greenfield approaches neither in SSCs nor in SP and STP concepts from the '80s that don't fit anymore, being replaced by holistic sustainability concepts that we have to implement in any new or revised SSC concepts. There are new demands for each SP/STP being in or close to an SC/SCC as they have a continuous demand for feeding the technology base and the application layer and should also act as testbeds. In our understanding, a big part of STP inputs and outputs are still needed, but in a revised and extended format. We know that most of the SC/STP studies claim the impact is still far from understood and often debated, therefore we must transform the concepts where SC/STPs are not own 'cities', but where they act as technology source and testbed for industry and new SSC business models, being part of the SC/STP concept and governance from the beginning.

• Journal of Internet Computing and Services
• /
• v.10 no.5
• /
• pp.195-209
• /
• 2009

The embedded software has been become more important than the hardware in mobile systems in ubiquitous society. The improvement models such as CMMI(Capability Maturity Model Integration) and SPICE(Software Process Improvement and Capability dEtermination) are used to improve the quality of software in general systems. Software process improvement is also necessary for mobile embedded software development to improve its quality. It is not easy to apply the general software improvement model to the mobile embedded software development due to the high cost effectiveness and heavy process. On the other hand, XP has the characteristics on focused communications with customers and iteration development. It is specially suitable for mobile embedded software development as depending on customer's frequent requirement changes and hardware attributes. In this paper, we propose a framework for development small process improvement based XP(eXtreme Programming)'s practice in order to accomplish CMMI level 2 or 3 in mobile embedded software development at the small organizations. We design and implement the Mobile Embedded Software Process Improvement System(MESPIS) to support process improvement. We also suggest the evaluation method for the mobile embedded software development process improvement framework with CMMI coverage check by comparing other process improvement model. In the future, we need to apply this proposed framework to real project for practical effectiveness and the real cases quantitative. It also include the enhance the functionality of MESPIS.

• Journal of KIISE:Computing Practices and Letters
• /
• v.9 no.6
• /
• pp.623-634
• /
• 2003

In this paper, we propose a collaborative multimedia authoring system. Our authoring system represents a multimedia presentation in a 3D coordinate system. One axis represents the traditional timeline information (T-zone), and the other two axes represent spatial coordinates (XY-zone). Our system represents a visual media objects as a 3D parallelepipeds and audio media objects as cylinders. This interface allows for simultaneous authoring and manipulation of both the temporal and the spatial aspects of a presentation. Using our system, users can design multimedia presentations collaboratively in the unified spatio-temporal space while freely traversing the spatial domain and the temporal domain without changing the context of authoring. In addition, we suggest an efficient mechanism of concurrency control for shared objects generated by our collaborative writing system. The mechanism is mainly based on the user awareness, the multiple versions, and the access permission of shared objects. Our concurrency control mechanism is designed to keep data consistency by minimizing the collision due to the delay or the failure of network communication and to allow maximum responsiveness for users using optimistic concurrency control. Also, the mechanism maximize the responsiveness by refining the locking granularity and applying different concurrency control mechanisms to each.

• Journal of the Korean GEO-environmental Society
• /
• v.15 no.3
• /
• pp.65-74
• /
• 2014

Borehole investigation which is mainly used to figure out geotechnical characterizations at construction work has the benefit that it provides a clear and convincing geotechnical information. But it has limitations to get the overall information of the construction site because it is performed at point location. In contrast, geophysical measurements like seismic survey has the advantage that the geological stratum information of a large area can be characterized in a continuous cross-section but the result from geophysics survey has wide range of values and is not suitable to determine the geotechnical design values directly. Therefore it is essential to combine borehole data and geophysics data complementally. Accordingly, in this study, a three-dimensional spatial interpolation of the cross-sectional distribution of seismic refraction was performed using digitizing and geostatistical method (krigring). In the process, digital map were used to increase the trustworthiness of method. Using this map, errors of ground height which are broken out in measurement from boring investigation and geophysical measurements can be revised. After that, average seismic velocity are derived by comparing borehole data with geophysical speed distribution data of each soil layer. During this process, outlier analysis is adapted. On the basis of the average seismic velocity, integrated analysis techniques to determine the three-dimensional geological stratum information is established. Finally, this analysis system is applied to dam construction field.