• Title/Summary/Keyword: Market failure

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An Examination of Multi-Dimensional Constructs of Resistance to Supply Chain Management (SCM) Change for a Small and Medium Sized Food Production Company (공급사슬관리 (SCM) 운영 변화의 저항에 영향을 미치는 선행요인 평가 : 식품제조 중소기업 K사 사례를 중심으로)

  • Kim, Dae-Cheol;Kim, Won-Kyo;Seo, Youing-Kyu
    • Journal of Korean Society of Industrial and Systems Engineering
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    • v.42 no.3
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    • pp.206-216
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    • 2019
  • The present study identified several antecedents that create perceived resistance to supply chain management (SCM) change. This work particularly emphasizes SCM change, which is notable given its central role in reacting market orientation and varied environmental and managerial conditions. A careful case study on a small and medium sized food production company in South Korea leads to the formulation of our framework including one second-order construct of 'resistance' as well as eight first-order constructs of 'implementing the payment terms', 'balancing of business process', 'fear of responsibility', 'business sustainability transparency', 'past experience of failure', 'competence of work personnel', 'cooperation with third parties' and 'sharing personnel information with partner'. The hypothesized relation of first- and second-order construct was validated using survey sample data collected from 350 respondents who completed their questionnaire instrument. Results from confirmatory factor analysis revealed that nomological validity was established at statistical significance level by identifying six first order constructs of 'implementing the payment terms', 'fear of responsibility', 'business sustainability transparency', 'past experience of failure', a conbined construct of 'competence of work personnel/cooperation with third parties' and 'sharing personnel information with partner'. The findings from our work are expected to provide important insights to the strategy for SCM risk management for small and medium sized company.

Anomaly Detection System of Smart Farm ICT Device (스마트팜 ICT기기의 이상탐지 시스템)

  • Choi, Hwi-Min;Kim, Joo-Man
    • The Journal of the Institute of Internet, Broadcasting and Communication
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    • v.19 no.2
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    • pp.169-174
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    • 2019
  • This paper propose a system to notify the user that detects failure of malfunction of smart farm ICT devices. As the fourth industrial revolution approaches, agriculture is also fused with ICT technology to improve competitiveness. Smart farming market is rapidly growing every year, but there is still a lack of standardization and certification systems. Especially, smart farm devices that are widely used in Korea are different in product specifications, software and hardware are developed separately, and quality and compatibility are poor. Therefore, a system that can recognize the abnormality of the equipment due to the frequent damage of farmers using low cost smart farm equipment is needed. In this paper, we review smart farm domestic and overseas policy trends and domestic smart agriculture trends, analyze smart farm failure or malfunctions and proactively prevent them, and propose a system to inform users when problems occur.

A study on Software Maintenance of Domestic Weapon System by using the Automatic Test Equipment

  • Chae, Il-Kwon
    • Journal of the Korea Society of Computer and Information
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    • v.27 no.1
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    • pp.51-59
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    • 2022
  • As the weapon system's dependence on software functions increased, software became a key factor in controlling the weapon system. In addition, as software development becomes more important domestically and internationally, software verification becomes an issue. The recent defense market has recognized this point and is demanding a plan for weapon system software maintenance. In this paper, we propose a weapon system software maintenance plan using Automatic Test Equipment. The specific method is to use a simulator to check the software function and identify failure cases. This is an effective way for developers to reduce the Total Corrective Maintenance Time(TCM) of the weapon system by reducing the time it takes to identify failure cases. It has been proven that the proposed Automatic Test Equipment can achieve software maintenance and excellent Maintainability and Operational Availability compared to the existing ones.

Thermo-mechanical compression tests on steel-reinforced concrete-filled steel tubular stub columns with high performance materials

  • David Medall;Carmen Ibanez;Ana Espinos;Manuel L. Romero
    • Steel and Composite Structures
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    • v.49 no.5
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    • pp.533-546
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    • 2023
  • Cost-effective solutions provided by composite construction are gaining popularity which, in turn, promotes the appearance on the market of new types of composite sections that allow not only to take advantage of the synergy of steel and concrete working together at room temperature, but also to improve their behaviour at high temperatures. When combined with high performance materials, significant load-bearing capacities can be achieved even with reduced cross-sectional dimensions. Steel-reinforced concrete-filled steel tubular (SR-CFST) columns are one of these innovative composite sections, where an open steel profile is embedded into a CFST section. Besides the renowned benefits of these typologies at room temperature, the fire protection offered by the surrounding concrete to the inner steel profile, gives them an enhanced fire performance which delays its loss of mechanical capacity in a fire scenario. The experimental evidence on the fire behaviour of SR-CFST columns is still scarce, particularly when combined with high performance materials. However, it is being much needed for the development of specific design provisions that consider the use of the inner steel profile in CFST columns. In this work, a new experimental program on the thermo-mechanical behaviour of SR-CFST columns is presented to extend the available experimental database. Ten SR-CFST stub columns, with circular and square geometries, combining high strength steel and concrete were tested. It was seen that the circular specimens reached higher failure times than the square columns, with the failure time increasing both when high strength steel was used at the embedded steel profile and high strength concrete was used as infill. Finally, different proposals for the reduction coefficients of high performance materials were assessed in the prediction of the cross-sectional fire resistance of the SR-CFST columns.

A study on the Application of Operation Model for Technical Proposal-Based Tender of Large Construction Project (대형공사에 효율적인 기술제안형 입찰방식 적용에 관한 연구)

  • Cho, Sung;Cho, Yong;Paek, Joon-Hong
    • Proceedings of the Korean Institute Of Construction Engineering and Management
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    • 2008.11a
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    • pp.591-596
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    • 2008
  • Success or failure highly depends on delivery method in construction projects. This paper mainly focused on operation model for technical proposal in Large construction projects. This operational model uses Technical Proposal-Based Tender. This project studied order and delivery method in large construction projects. And delivery systems of international and domestic market are researched, and then condition of delivery system and problems are derived from them. Especially, it researched that it is hard to reflect special feature in large construction projects. As a result of having referenced idea as describe above, this paper will be studied by this process. First, definition of delivery method and large construction projects is researched. Second, delivery systems of international and domestic market are checked. Third, problems and condition of delivery system in large construction projects are investigated. Fourth, application of operation model for technical proposal-based tender are presented in large construction projects.

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Analysing the Meaning of Quality Management in Cross-border Business Cooperations by using Benchmarking Methodology

  • Basler, Maurice;Voigt, Matthias;Woll, Ralf
    • International Journal of Quality Innovation
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    • v.8 no.2
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    • pp.57-68
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    • 2007
  • Benchmarking is more than just a comparison of measures about different company's performance in a wider sense. It is a methodology of learning-comparing-learning, at least within small and medium sized enterprises. This learning is not just limited to learn by copying successful concepts from other enterprises or competitors. It starts in learning more about the own company, about its structure and processes causing its own success or its failure. This kind of learning is necessary before the enterprise starts watching for a suitable Benchmarking partner. Learning from each other's strengths and weaknesses is the main goal of the European research project Quality beyond Borders! By using the Benchmarking methodology, small and medium sized enterprises get the opportunity to take part in a Benchmarking study and can learn more about the different strengths and weaknesses of other enterprises on both sides of the border. The results of such a Benchmarking can help to identify potentials for future cooperations among German and Polish enterprises in the same market or business. These potentials can lie in different ways of realising the same success or top-position. The Benchmarking study is not focused on an special business or region. That helps to find out trends for different kinds of top-positions, which can be claimed in all markets within a country. Every trend is characterised by different success factors which are responsible for the success in this top-position. In a first overview, the results of the Benchmarking study show 5 different groups of top-positions within a market which all have different profiles regarding to the importance of their success factors. By the end of the Benchmarking study it will be possible, to give answer about the special reasons for different kind of successes of these groups. These answers can be related to a special region within a country, a special business or of course related to possible differences in the expression of the group success factors in comparison of both countries.

Study on Management Plan of the Financial Supervisory Service According to Increase of Risk of Household Debts (금융권 가계부채 위험증가에 따른 금융감독원 관리방안에 관한 연구)

  • Lee, YunHong
    • Korean Journal of Construction Engineering and Management
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    • v.19 no.2
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    • pp.96-106
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    • 2018
  • The government adopted activation policy of real estate to overcome low economic growth rate. Real estate activation plan adopted by the government raised credit limit by lowering the regulation, and reduced real estate investment cost by reducing the base rate. Also, delayed transfer tax on multi-house owner to activate real estate investment and resolved purchase right resale. Relief of real estate regulate caused increase of housing sales and price increase, and the real estate market changed to overheating aspect such as premium upon completion of lot sale in a short time. Such market atmosphere greatly increased household debs as owners own houses based on 'financial debt' instead of their income. Since 2017, real estate policy was reinforced to reduce household debts and lending rate was raised due to rise of base rate, accordingly, burden of household debt is expected to increase. This research suggested a plan for the Financial Supervisory Service to efficiently manage the financial world by analyzing the cause and problem of household debs.

The Role of Strategic Orientation and Social Capital of Founders in the Performance of Korean Startups (창업자의 전략적 지향성과 사회적 자본의 역할)

  • Sohn, Kwonsang;Hur, Wonchang;Sohn, Dong-Won
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.15 no.1
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    • pp.125-141
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    • 2020
  • This study examines the effect of founders' strategic orientation and social capital on the performance of startups in Korean contexts. Founders' strategic orientation is proposed as the main factor to reduce the risk of failure and to increase the potential of future growth of the startup. Three main components of strategic orientation, entrepreneurial, market, technology, were simultaneously tested with a sample of Korean startups. Furthermore, founders' social capital, networks with supporting entities and the level of chemistry within founding members were also proposed to be important factors. We also tested possible mediating effects of social capital on the main impact of strategic orientation. With a sample of 79 startups founded less than 5 years in Seoul Metropolitan Areas, we found that technology orientation of founders only significantly increases the performance of startups, but both entrepreneurial and market orientation do not. Regarding social capital effect, the external networks of the founding members are effective as proposed, and also the high cohesiveness of founding members increases the startup performance. However, the mediating role of social capital is just partially confirmed. The implications of our findings, in both sense of firm's strategy and startup policy, are discussed. This study is expected to be a bridge connecting firms' strategy with startup policy-making in Korea.

Contagious Effect of the Fees for the Consolidated Financial Services under the Asymmetric Information

  • Song, Soo-Young;Hwang, Sun-Wung
    • The Korean Journal of Financial Management
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    • v.26 no.4
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    • pp.83-102
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    • 2009
  • Banks traditionally focus on the financial services against the uncertain future liquidity needs, i.e. saving as well as lending. As the business model of banks has been shifted from the originate to hold model to the originate to distribute model since the enactment of Gramm-Leach-Bliley Financial Services Modernization Act in 1999, the financial services encompass information gathering and generating, underwriting and risk sharing through packaging claims for the investors, in addition to the payment and settlement services. Ensued are the financial market integration and diversification of financial services, with which the accessibility to financial services is arguably significantly enhanced. Such integration and diversification necessarily entails the risk of contagion due to the non-fulfilling service over the several other financial services, which would be contained easily under the separate financial services. This paper addresses the pricing of fees for the integrated financial services through which the contagion could spread when the users of financial service are not immune to the failure to fulfill their obligation due to the economic turmoil. Consequently the information asymmetry about the clients is unavoidable. Higher fees could drive out the otherwise good clients out of the pool of customers for the financial services. Then, the risk could be exacerbated due to the proliferation of bad clients who are vulnerable to the financial distress and liquidity crunch. So the banks should take into account the interactional effect of the fees between/among the non interest based activities and interest based activities under the information asymmetry. Contrary to our general perception, the current analysis demonstrates that the bank should focus on the reduction of cost associated with good clients rather than that of bad clients.

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Dynamic Modeling and Sensitivity Analysis for Predicting the Pseudomonas spp. Concentration in Alaska Pollack along the Distribution Path (명태 유통 중 Pseudomonas spp. 농도의 예측 모델링과 민감도 분석)

  • Shim, Soo-Dong;Sung, Jae-Ung;Lee, Jung-Young;Lee, Da-Sun;Kim, Seon-Bong;Hong, Kwang-Won;Lee, Yang-Bong;Lee, Seung-Ju
    • Korean Journal of Fisheries and Aquatic Sciences
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    • v.43 no.3
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    • pp.205-210
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    • 2010
  • Dynamic modeling was used to predict the Pseudomonas spp. concentration in Alaska pollack under dynamic temperature conditions in a programmable incubator using Euler's method. The model evaluation showed good agreement between the predicted and measured concentrations of Pseudomonas spp. In the simulation, three kinds of distribution path were assumed: consumers buying from a distribution center (A), manufacturer (B), or direct market (C). Each of these distribution paths consists of six phases: shipping, warehousing/shipment, warehousing/storing, processing, market exhibition, and sale/consumption. Sensitivity analysis of each phase was also implemented. The Pseudomonas concentrations and sensitivities ($S_k$) at the terminal phases of the three paths were estimated to be (A) 11.174 log CFU/g and 10.550 log $S_k$, (B) 10.948 log CFU/g and 10.738 log $S_k$, and (C) 8.758 log CFU/g and 9.602 log $S_k$, respectively. The sensitivities indicated that path A has the highest risk of failure in managing the relevant phases.