• Title/Summary/Keyword: New manufacturing process

Search Result 1,529, Processing Time 0.031 seconds

Structural Adjustment of Domestic Firms in the Era of Market Liberalization (시장개방(市場開放)과 국내기업(國內企業)의 구조조정(構造調整))

  • Seong, So-mi
    • KDI Journal of Economic Policy
    • /
    • v.13 no.4
    • /
    • pp.91-116
    • /
    • 1991
  • Market liberalization progressing simultaneously with high and rapidly rising domestic wages has created an adverse business environment for domestic firms. Korean firms are losing their international competitiveness in comparison to firms from LDC(Less Developed Countries) in low-tech industries. In high-tech industries, domestic firms without government protection (which is impossible due to the liberalization policy and the current international status of the Korean economy) are in a disadvantaged position relative to firms from advanced countries. This paper examines the division of roles between the private sector and the government in order to achieve a successful structural adjustment, which has become the impending industrial policy issue caused by high domestic wages, on the one hand, and the opening of domestic markets, on the other. The micro foundation of the economy-wide structural adjustment is actually the restructuring of business portfolios at the firm level. The firm-level business restructuring means that firms in low-value-added businesses or with declining market niches establish new major businesses in higher value-added segments or growing market niches. The adjustment of the business structure at the firm level can only be accomplished by accumulating firm-specific managerial assets necessary to establish a new business structure. This can be done through learning-by-doing in the whole system of management, including research and development, manufacturing, and marketing. Therefore, the voluntary cooperation among the people in the company is essential for making the cost of the learning process lower than that at the competing companies. Hence, firms that attempt to restructure their major businesses need to induce corporate-wide participation through innovations in organization and management, encourage innovative corporate culture, and maintain cooperative labor unions. Policy discussions on structural adjustments usually regard firms as a black box behind a few macro variables. But in reality, firm activities are not flows of materials but relationships among human resources. The growth potential of companies are embodied in the human resources of the firm; the balance of interest among stockholders, managers, and workers of the company' brings the accumulation of the company's core competencies. Therefore, policymakers and economists shoud change their old concept of the firm as a technological black box which produces a marketable commodities. Firms should be regarded as coalitions of interest groups such as stockholders, managers, and workers. Consequently the discussion on the structural adjustment both at the macroeconomic level and the firm level should be based on this new paradigm of understanding firms. The government's role in reducing the cost of structural adjustment and supporting should the creation of new industries emphasize the following: First, government must promote the competition in domestic markets by revising laws related to antitrust policy, bankruptcy, and the promotion of small and medium-sized companies. General consensus on the limitations of government intervention and the merit of deregulation should be sought among policymakers and people in the business world. In the age of internationalization, nation-specific competitive advantages cannot be exclusively in favor of domestic firms. The international competitiveness of a domestic firm derives from the firm-specific core competencies which can be accumulated by internal investment and organization of the firm. Second, government must build up a solid infrastructure of production factors including capital, technology, manpower, and information. Structural adjustment often entails bankruptcies and partial waste of resources. However, it is desirable for the government not to try to sustain marginal businesses, but to support the diversification or restructuring of businesses by assisting in factor creation. Institutional support for venture businesses needs to be improved, especially in the financing system since many investment projects in venture businesses are highly risky, even though they are very promising. The proportion of low-value added production processes and declining industries should be reduced by promoting foreign direct investment and factory automation. Moreover, one cannot over-emphasize the importance of future-oriented labor policies to be based on the new paradigm of understanding firm activities. The old laws and instititutions related to labor unions need to be reformed. Third, government must improve the regimes related to money, banking, and the tax system to change business practices dependent on government protection or undesirable in view of the evolution of the Korean economy as a whole. To prevent rational business decisions from contradicting to the interest of the economy as a whole, government should influence the business environment, not the business itself.

  • PDF

Development of a Novel Medium with Chinese Cabbage Extract and Optimized Fermentation Conditions for the Cultivation of Leuconostoc citreum GR1 (폐배추 추출물을 이용한 Leuconostoc citreum GR1 종균 배양용 최적 배지 및 배양 조건 개발)

  • Moon, Shin-Hye;Chang, Hae-Choon;Kim, In-Cheol
    • Journal of the Korean Society of Food Science and Nutrition
    • /
    • v.42 no.7
    • /
    • pp.1125-1132
    • /
    • 2013
  • In the kimchi manufacturing process, the starter is cultured on a large-scale and needs to be supplied at a low price to kimchi factories. However, current high costs associated with the culture of lactic acid bacteria for the starter, have led to rising kimchi prices. To solve this problem, the development of a new medium for culturing lactic acid bacteria was studied. The base materials of a this novel medium consisted of Chinese cabbage extract, a carbon source, a nitrogen source, and inorganic salts. The optimal composition of this medium was determined to be 30% Chinese cabbage extract, 2% maltose, 0.25% yeast extract, and $2{\times}$ salt stock (2% sodium acetate trihydrate, 0.8% disodium hydrogen phosphate, 0.8% sodium citrate, 0.8% ammonium sulfate, 0.04% magnesium sulfate, 0.02% manganese sulfate). The newly developed medium was named MFL (medium for lactic acid bacteria). After culture for 24 hr at $30^{\circ}C$, the CFU/mL of Leuconostoc (Leuc.) citreum GR1 in MRS and MFL was $3.41{\times}10^9$ and $7.49{\times}10^9$, respectively. The number of cells in the MFL medium was 2.2 times higher than their number in the MRS media. In a scale-up process using this optimized medium, the fermentation conditions for Leuc. citreum GR1 were tested in a 2 L working volume using a 5 L jar fermentor at $30^{\circ}C$. At an impeller speed of 50 rpm (without pH control), the viable cell count was $8.60{\times}10^9$ CFU/mL. From studies on pH-stat control fermentation, the optimal pH and regulating agent was determined to be 6.8 and NaOH, respectively. At an impeller speed of 50 rpm with pH control, the viable cell count was $11.42{\times}10^9(1.14{\times}10^{10})$ CFU/mL after cultivation for 20 hr - a value was 3.34 times higher than that obtained using the MRS media in biomass production. This MFL media is expected to have economic advantages for the cultivation of Leuc. citreum GR1 as a starter for kimchi production.

The Physical and Chemical Properties of Salt Manufactured by New Process with Brine Produced in Korean Salt-farms (염전의 함수로 제조한 천일식제조소금의 물리화학적 특성)

  • Kim, Kyeong Mi;Kim, In Cheol
    • Journal of the Korean Society of Food Science and Nutrition
    • /
    • v.42 no.10
    • /
    • pp.1664-1672
    • /
    • 2013
  • Solar salt is manufactured naturally, and therefore, it contains insoluble substances such as sandy compounds. This study is performed in order to effectively produce clean sea salt by removing the impurities in sea salt through filtration and evaporation in a vacuum condition. Brine was concentrated and crystallized at $90^{\circ}C$ by a rotary vacuum evaporator, which was then recovered as salt crystals by filtration, and then the salt was dehydrated. Manufacturing yields were determined by the amount of water evaporation. Brine was concentrated to 40%, 50% and 60% of the initial volume of brine and manufactured salt were designated as 40S, 50S and 60S, respectively. The salt produced by this process is called ESBS (evaporated salt with brine from salt-farm). The yield of 40S, 50S and 60S were 7.22%, 10.79% and 15.06%, respectively. The NaCl concentration of 40S and 50S were 90.38% and 91.16%, respectively. From a sensory evaluation analysis, the most tasty salt was 40S and the bitter salt was 60S. The average contents of sand compound and insoluble substances in ESBS were 0.001~0.012% and 0.067~0.12%, respectively. The mineral compositions, such as Na, Mg, K, and Ca of 40S and 50S were similar with those of the natural solar salt. In solubility tests, the solubility (g of salt/100 mL $H_2O$/sec) of 40S, 50S, and 60S was 0.69, 0.70, and 0.69, respectively. On the other hand, the solubility of natural solar salt was 0.47. By comparing the water reabsorption rate analysis results, water reabsorption rate of 40S and 50S was about 3 to 5 times lower than that of the solar salt. In the aspects of physical and chemical properties, such as minerals, impurities, solubility and moisture re-absorption rate, salts developed in this study are judged to be better than that of the general solar salt.

A Comparative Study on the Change in Oriental Linked pearls Pattern (동전(東傳) 연주문의 변천과정 비교연구 -5세기~10세기 벽화복식 및 출토 직물을 중심으로-)

  • An, Bo-yeon
    • Korean Journal of Heritage: History & Science
    • /
    • v.40
    • /
    • pp.243-270
    • /
    • 2007
  • Linked pearls pattern expressed on textiles have no limited scale or shape when manufacturing, so they are free in expression. And from the design, material, and color we can analogize the social culture of that age. Oriental linked pearls pattern was started from the Sasanian Persia and introduced through the Silk Road, so it is closely connected with the East and the West culture. This study will consider from the 5th century to the 10th century; the mural costume of the West Central Asia, the ancient textiles excavated from the Sinjiang and Qinghai area of China, and the linked pearls pattern which are collected at Shosoin, Japan. And from this study, will concentrate on clarifying the linked pearls pattern's condition of the cultural exchange between the East and the West and it's structural variation process. The design of linked pearls pattern delivered to the East through the Silk Road is differed by area. For example, in the Western Pamir Plateau, where the ancient Sogdians mainly lived, the excavated linked pearls pattern's subject were deer or cassowary variated from the West Asian motif. But the ones excavated from Kucha Xingang had Chinese motifs added so they showed Chinese characters or Buddhist Bodhisattva image instead of Helios. Like this, the appearance of new patterns, which were accompanied by structural variations, gradually deviated from the standardized pattern of the Sasanian Persia. And this structural variation process has relations with the construction and arrangement method of various patterns of the after ages. The foliated floral Spray, which is placed at the lozenge space of linked pearls' space, had developed into ogival - shaped pattern (Neunghwamun). And the prevalence of geometrical structure pattern after the 10th century and the unfolding method of Tapjamun which is arranging unit pattern in order, are similar to the linked pearl pattern. In brief, linked pearls pattern accompanied by technical improvement let us understand the polished artistic code from its expression, and has importance in showing universal pattern beyond region and culture.

The Effect of CEO's Entrepreneurship on Intra-organization Innovation through Creative self-efficacy and the Moderating Effect of Organizational Commitment (창의적 효능감을 통해 조직 내 혁신을 유발하는 CEO의 기업가정신과 조직몰입의 조절효과)

  • Kim, Sun-Wang;Sung, Eul-Hyun
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
    • /
    • v.19 no.2
    • /
    • pp.45-61
    • /
    • 2024
  • This study looked in-depth at the importance of cultivating and manifesting entrepreneurship, which is emphasized for companies to gain a competitive advantage and promote innovation in the uncertain environment that organizations face and in the development of technology due to recent industrial advancement, the following innovative performance, and the mechanisms in the performance process. Entrepreneurship is emphasized as a key factor in inducing creative work performance, creation and application of new ideas, and innovative performance at various levels within the organization in various global companies. In particular, this study examined the influence of the CEO's cultivation and expression of entrepreneurship as an organizational leader on the innovative behavior of organizational members, which is a leading factor in the organization's innovative performance, and the role of creative self-efficacy as a mechanism. Through this, the study was to verify the importance of creativity and cultivating a sense of self-efficacy for demonstrating innovative performance within an organization. Additionally, it was to confirm the role of organizational commitment of organizational members as a situational factor. For the empirical analysis, a total of 247 office workers were surveyed, sampled from 10 venture companies engaged in the manufacturing industry in industrial complexes in Daejeon, Korea. As the result of empirical analysis showed, it was confirmed that each sub-factor of the CEO's entrepreneurship had a positive effect on the innovative behavior of organizational members. And in the process, the importance of the creative self-efficacy of members to demonstrate innovative performance was verified by confirming positively significant mediating effect of creative self-efficacy. Furthermore, in the case of organizational commitment, it was found that the innovativeness and proactiveness of the CEO strengthened the positive influence on the creative efficacy of the organization members. Based on the results of empirical analysis, theoretical and practical implications were provided to improve the importance of cultivating and manifesting the CEO's entrepreneurship to demonstrate innovation within the organization.

  • PDF

The Effect of Meta-Features of Multiclass Datasets on the Performance of Classification Algorithms (다중 클래스 데이터셋의 메타특징이 판별 알고리즘의 성능에 미치는 영향 연구)

  • Kim, Jeonghun;Kim, Min Yong;Kwon, Ohbyung
    • Journal of Intelligence and Information Systems
    • /
    • v.26 no.1
    • /
    • pp.23-45
    • /
    • 2020
  • Big data is creating in a wide variety of fields such as medical care, manufacturing, logistics, sales site, SNS, and the dataset characteristics are also diverse. In order to secure the competitiveness of companies, it is necessary to improve decision-making capacity using a classification algorithm. However, most of them do not have sufficient knowledge on what kind of classification algorithm is appropriate for a specific problem area. In other words, determining which classification algorithm is appropriate depending on the characteristics of the dataset was has been a task that required expertise and effort. This is because the relationship between the characteristics of datasets (called meta-features) and the performance of classification algorithms has not been fully understood. Moreover, there has been little research on meta-features reflecting the characteristics of multi-class. Therefore, the purpose of this study is to empirically analyze whether meta-features of multi-class datasets have a significant effect on the performance of classification algorithms. In this study, meta-features of multi-class datasets were identified into two factors, (the data structure and the data complexity,) and seven representative meta-features were selected. Among those, we included the Herfindahl-Hirschman Index (HHI), originally a market concentration measurement index, in the meta-features to replace IR(Imbalanced Ratio). Also, we developed a new index called Reverse ReLU Silhouette Score into the meta-feature set. Among the UCI Machine Learning Repository data, six representative datasets (Balance Scale, PageBlocks, Car Evaluation, User Knowledge-Modeling, Wine Quality(red), Contraceptive Method Choice) were selected. The class of each dataset was classified by using the classification algorithms (KNN, Logistic Regression, Nave Bayes, Random Forest, and SVM) selected in the study. For each dataset, we applied 10-fold cross validation method. 10% to 100% oversampling method is applied for each fold and meta-features of the dataset is measured. The meta-features selected are HHI, Number of Classes, Number of Features, Entropy, Reverse ReLU Silhouette Score, Nonlinearity of Linear Classifier, Hub Score. F1-score was selected as the dependent variable. As a result, the results of this study showed that the six meta-features including Reverse ReLU Silhouette Score and HHI proposed in this study have a significant effect on the classification performance. (1) The meta-features HHI proposed in this study was significant in the classification performance. (2) The number of variables has a significant effect on the classification performance, unlike the number of classes, but it has a positive effect. (3) The number of classes has a negative effect on the performance of classification. (4) Entropy has a significant effect on the performance of classification. (5) The Reverse ReLU Silhouette Score also significantly affects the classification performance at a significant level of 0.01. (6) The nonlinearity of linear classifiers has a significant negative effect on classification performance. In addition, the results of the analysis by the classification algorithms were also consistent. In the regression analysis by classification algorithm, Naïve Bayes algorithm does not have a significant effect on the number of variables unlike other classification algorithms. This study has two theoretical contributions: (1) two new meta-features (HHI, Reverse ReLU Silhouette score) was proved to be significant. (2) The effects of data characteristics on the performance of classification were investigated using meta-features. The practical contribution points (1) can be utilized in the development of classification algorithm recommendation system according to the characteristics of datasets. (2) Many data scientists are often testing by adjusting the parameters of the algorithm to find the optimal algorithm for the situation because the characteristics of the data are different. In this process, excessive waste of resources occurs due to hardware, cost, time, and manpower. This study is expected to be useful for machine learning, data mining researchers, practitioners, and machine learning-based system developers. The composition of this study consists of introduction, related research, research model, experiment, conclusion and discussion.

COATED PARTICLE FUEL FOR HIGH TEMPERATURE GAS COOLED REACTORS

  • Verfondern, Karl;Nabielek, Heinz;Kendall, James M.
    • Nuclear Engineering and Technology
    • /
    • v.39 no.5
    • /
    • pp.603-616
    • /
    • 2007
  • Roy Huddle, having invented the coated particle in Harwell 1957, stated in the early 1970s that we know now everything about particles and coatings and should be going over to deal with other problems. This was on the occasion of the Dragon fuel performance information meeting London 1973: How wrong a genius be! It took until 1978 that really good particles were made in Germany, then during the Japanese HTTR production in the 1990s and finally the Chinese 2000-2001 campaign for HTR-10. Here, we present a review of history and present status. Today, good fuel is measured by different standards from the seventies: where $9*10^{-4}$ initial free heavy metal fraction was typical for early AVR carbide fuel and $3*10^{-4}$ initial free heavy metal fraction was acceptable for oxide fuel in THTR, we insist on values more than an order of magnitude below this value today. Half a percent of particle failure at the end-of-irradiation, another ancient standard, is not even acceptable today, even for the most severe accidents. While legislation and licensing has not changed, one of the reasons we insist on these improvements is the preference for passive systems rather than active controls of earlier times. After renewed HTGR interest, we are reporting about the start of new or reactivated coated particle work in several parts of the world, considering the aspects of designs/ traditional and new materials, manufacturing technologies/ quality control quality assurance, irradiation and accident performance, modeling and performance predictions, and fuel cycle aspects and spent fuel treatment. In very general terms, the coated particle should be strong, reliable, retentive, and affordable. These properties have to be quantified and will be eventually optimized for a specific application system. Results obtained so far indicate that the same particle can be used for steam cycle applications with $700-750^{\circ}C$ helium coolant gas exit, for gas turbine applications at $850-900^{\circ}C$ and for process heat/hydrogen generation applications with $950^{\circ}C$ outlet temperatures. There is a clear set of standards for modem high quality fuel in terms of low levels of heavy metal contamination, manufacture-induced particle defects during fuel body and fuel element making, irradiation/accident induced particle failures and limits on fission product release from intact particles. While gas-cooled reactor design is still open-ended with blocks for the prismatic and spherical fuel elements for the pebble-bed design, there is near worldwide agreement on high quality fuel: a $500{\mu}m$ diameter $UO_2$ kernel of 10% enrichment is surrounded by a $100{\mu}m$ thick sacrificial buffer layer to be followed by a dense inner pyrocarbon layer, a high quality silicon carbide layer of $35{\mu}m$ thickness and theoretical density and another outer pyrocarbon layer. Good performance has been demonstrated both under operational and under accident conditions, i.e. to 10% FIMA and maximum $1600^{\circ}C$ afterwards. And it is the wide-ranging demonstration experience that makes this particle superior. Recommendations are made for further work: 1. Generation of data for presently manufactured materials, e.g. SiC strength and strength distribution, PyC creep and shrinkage and many more material data sets. 2. Renewed start of irradiation and accident testing of modem coated particle fuel. 3. Analysis of existing and newly created data with a view to demonstrate satisfactory performance at burnups beyond 10% FIMA and complete fission product retention even in accidents that go beyond $1600^{\circ}C$ for a short period of time. This work should proceed at both national and international level.

Analysis of Heat Transfer Characteristics on Multi-layer Insulating Curtains Coated with Silica Aerogel (실리카 에어로겔이 흡착된 다겹보온커튼의 전열 특성 분석)

  • Jin, Byung-Ok;Kim, Hyung-Kweon;Ryou, Young-Sun;Lee, Tae-Seok;Kim, Young-Hwa;Oh, Sung-Sik;Kang, Geum-Choon
    • Journal of Bio-Environment Control
    • /
    • v.28 no.3
    • /
    • pp.273-278
    • /
    • 2019
  • The multi-layer insulating curtains used in the experiment was produced in six combinations using non-woven fabric containing aerogel and compared and analyzed by measuring heat flux and heat perfusion rates due to weight, thickness and temperature changes. Using silica aerogel, which have recently been noted as new material insulation, this study tries to produce a new combination of multi-layer insulating curtains that can complement the shortcomings of the multi-layer insulating curtains currently in use and maintain and improve its warmth, and analyze the thermal properties. The heat flux means the amount of heat passing per unit time per unit area, and the higher the value, the more heat passing through the multi-layer insulating curtain, and it can be judged that the heat retention is low. The weight and thickness of multi-layer insulation curtains were found to be highly correlated with thermal insulation. In particular, insulation curtains combined with aerogel meltblown non-woven fabric had relatively higher thermal insulation than insulation curtains with the same number of insulation materials. However, the aerogel meltblown non-woven fabric is weak in light resistance and durability, and there is a problem that the production process and aerogel are scattering. In order to solve this problems, the combination of expanded aerogel non-woven fabric and hollow fiber non-woven fabric, which are relatively simple manufacturing processes and excellent warmth, are suitable for use in real farms.

Factors Affecting Intention to Introduce Smart Factory in SMEs - Including Government Assistance Expectancy and Task Technology Fit - (중소기업의 스마트팩토리 도입의도에 영향을 미치는 요인에 관한 연구 - 정부지원기대와 과업기술적합도를 포함하여)

  • Kim, Joung-rae
    • Journal of Venture Innovation
    • /
    • v.3 no.2
    • /
    • pp.41-76
    • /
    • 2020
  • This study confirmed factors affecting smart factory technology acceptance through empirical analysis. It is a study on what factors have an important influence on the introduction of the smart factory, which is the core field of the 4th industry. I believe that there is academic and practical significance in the context of insufficient research on technology acceptance in the field of smart factories. This research was conducted based on the Unified Theory of Acceptance and Use of Technology (UTAUT), whose explanatory power has been proven in the study of the acceptance factors of information technology. In addition to the four independent variables of the UTAUT : Performance Expectancy, Effort Expectancy, Social Influence, and Facilitating Conditions, Government Assistance Expectancy, which is expected to be an important factor due to the characteristics of the smart factory, was added to the independent variable. And, in order to confirm the technical factors of smart factory technology acceptance, the Task Technology Fit(TTF) was added to empirically analyze the effect on Behavioral Intention. Trust is added as a parameter because the degree of trust in new technologies is expected to have a very important effect on the acceptance of technologies. Finally, empirical verification was conducted by adding Innovation Resistance to a research variable that plays a role as a moderator, based on previous studies that innovation by new information technology can inevitably cause refusal to users. For empirical analysis, an online questionnaire of random sampling method was conducted for incumbents of domestic small and medium-sized enterprises, and 309 copies of effective responses were used for empirical analysis. Amos 23.0 and Process macro 3.4 were used for statistical analysis. For accurate statistical analysis, the validity of Research Model and Measurement Variable were secured through confirmatory factor analysis. Accurate empirical analysis was conducted through appropriate statistical procedures and correct interpretation for causality verification, mediating effect verification, and moderating effect verification. Performance Expectancy, Social Influence, Government Assistance Expectancy, and Task Technology Fit had a positive (+) effect on smart factory technology acceptance. The magnitude of influence was found in the order of Government Assistance Expectancy(β=.487) > Task Technology Fit(β=.218) > Performance Expectancy(β=.205) > Social Influence(β=.204). Both the Task Characteristics and the Technology Characteristics were confirmed to have a positive (+) effect on Task Technology Fit. It was found that Task Characteristics(β=.559) had a greater effect on Task Technology Fit than Technology Characteristics(β=.328). In the mediating effect verification on Trust, a statistically significant mediating role of Trust was not identified between each of the six independent variables and the intention to introduce a smart factory. Through the verification of the moderating effect of Innovation Resistance, it was found that Innovation Resistance plays a positive (+) moderating role between Government Assistance Expectancy, and technology acceptance intention. In other words, the greater the Innovation Resistance, the greater the influence of the Government Assistance Expectancy on the intention to adopt the smart factory than the case where there is less Innovation Resistance. Based on this, academic and practical implications were presented.

From a Defecation Alert System to a Smart Bottle: Understanding Lean Startup Methodology from the Case of Startup "L" (배변알리미에서 스마트바틀 출시까지: 스타트업 L사 사례로 본 린 스타트업 실천방안)

  • Sunkyung Park;Ju-Young Park
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
    • /
    • v.18 no.5
    • /
    • pp.91-107
    • /
    • 2023
  • Lean startup is a concept that combines the words "lean," meaning an efficient way of running a business, and "startup," meaning a new business. It is often cited as a strategy for minimizing failure in early-stage businesses, especially in software-based startups. By scrutinizing the case of a startup L, this study suggests that lean startup methodology(LSM) can be useful for hardware and manufacturing companies and identifies ways for early startups to successfully implement LSM. To this end, the study explained the core of LSM including the concepts of hypothesis-driven approach, BML feedback loop, minimum viable product(MVP), and pivot. Five criteria to evaluate the successful implementation of LSM were derived from the core concepts and applied to evaluate the case of startup L . The early startup L pivoted its main business model from defecation alert system for patients with limited mobility to one for infants or toddlers, and finally to a smart bottle for infants. In developing the former two products, analyzed from LSM's perspective, company L neither established a specific customer value proposition for its startup idea and nor verified it through MVP experiment, thus failed to create a BML feedback loop. However, through two rounds of pivots, startup L discovered new target customers and customer needs, and was able to establish a successful business model by repeatedly experimenting with MVPs with minimal effort and time. In other words, Company L's case shows that it is essential to go through the customer-market validation stage at the beginning of the business, and that it should be done through an MVP method that does not waste the startup's time and resources. It also shows that it is necessary to abandon and pivot a product or service that customers do not want, even if it is technically superior and functionally complete. Lastly, the study proves that the lean startup methodology is not limited to the software industry, but can also be applied to technology-based hardware industry. The findings of this study can be used as guidelines and methodologies for early-stage companies to minimize failures and to accelerate the process of establishing a business model, scaling up, and going global.

  • PDF