Asia-Pacific Journal of Business Venturing and Entrepreneurship
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v.12
no.1
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pp.1-13
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2017
The purpose of this study is to find out which factors determine the success of start-up in the initial market and what are the most important determinants. For the empirical analysis, the questionnaire related to the analysis of success factors for start-up success was designed according to the quantitative analysis (AHP technique). First, we selected 8 representative success factors for successful start-up in the initial market. In order to determine the degree of priority among these factors, we surveyed 12 entrepreneurs who are interested in entrepreneurship, universities, research institutes, and public officials. As a result of the empirical analysis, 51% of the funds in the tier 1 were ranked as the top priority to determine success factors. Followed by research and development (32.5%), management (8.7%) and marketing (7.8%). In particular, when each of the four items is calculated as 100 according to the result of the tier 1, and the tier 2 is converted, the foreign investment is analyzed as 43.7%. It was followed by 15.14% of R & D facilities, 14.07% of ideas, 8.7% of managerial ability, 7.29% of domestic investment, 5.85% of buyer feedback, 3.3% of development strategy and 1.95% of marketing strategy. Among the eight success factors, overseas investment items showed the closest preference to half, and it was the most important variable that determines the success or failure of market entry. The implication of this study is that many start-ups in Korea expect to receive investment and support from overseas accelerators. This means that overseas investment itself has been recognized as a start-up that makes services and products that can be used in the global market. A high preference for attracting foreign investment is due to the fact that the amount of investment is larger than that of Korea and that it can flexibly cope with the pressure on the performance compared to domestic investors. In this study, it was meaningful that we could confirm this fact through questionnaires of start-up experts. In future research, we need to find a viable alternative through studying how to provide start-up to foreign direct investment at the national level.
The current era's focus is on the surge in real estate prices triggered by the global economic downturn. This study advocated STO-based dispersed investment for the MZ generation, who has less capital than earlier generations. Existing real estate investment methods were categorized into online, offline, and hybrid formats and the effectiveness of the suggested STO was given in this study through case analysis domestically and overseas. The entry of STO into the financial industry was positively proved, and the efficacy of blockchain technology was validated, through the investigation of the STO framework. The findings of this study are projected to revitalize the new real estate sector by actively supporting the access of the MZ generation into the current inflexible real estate investment market by the application of blockchain and reflecting MZ generation's investment propensity.
Journal of the Korea Academia-Industrial cooperation Society
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v.21
no.9
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pp.301-309
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2020
Defense exports have overgrown in a short period, and items have been diversified with advanced high-end equipment, but exports have been stagnant due to the global economic recession and fierce competition. Weapons importers in the global market are diversified, volatility is higher, and global defense companies are also expanding their global value chain (GVC) By participating in the GVC of a global defense company, the defense SME can grow into a competitive company with specialized technology, rather than participating as a partner of a domestic system company. It is time to prepare an export promotion support plan. In this study, we selected five global companies with high value for the implementation of offset and general considerations on domestic SMEs' entry into the international parts supply chain and related cases, and investigated GVC entry requirements, the current status of cooperation partners, and the perceptions of GVC entry, through local surveys in Korea and overseas. Also, by considering the export target comprehensively, GVC stage, and the level of export competitiveness of domestic SMEs, strategies for promoting GVC participation of defense SMEs and improvements in government policies were derived and presented.
Franchising is one of the fastest growing types of business. It is already popular and well-known in the U.S., and has been growing in many other countries including Korea. Furthermore, many Korean franchising companies have expanded their business overseas actively. According to the data by the Ministry of Industry and Resource, 82 companies out of a sample of 500 franchising companies are already operating in many foreign countries and 48% of them have started their foreign business since 2006. This clearly indicates the fast growing current trend of foreign operation by Korean franchising companies. In spite of the fast growing trend of foreign expansion in the industry, academic research on internationalization of franchising companies is extremely difficult to find. Accordingly, academic research on the issue is necessary and urgent in Korea. Among the various research questions on internationalization of franchising business, this study intends to investigate the difference in organizational factors between the franchising companies doing foreign operation and those doing business only domestically. More specifically, this research has the following purposes. First, considering the lack of theoretical basis of previous studies, resource-based theory and agency theory are employed as the theoretical bases. Second, this study explains the difference in internationalization based on organizational factors such as company size, history and growth rate. Third, the five hypotheses regarding the difference in organizational factors are presented and tested empirically, which is the first attempt in the area of this topic. Finally, the study attempts to clarify the conflicting implications among theories regarding some organizational factos such as growth rate. As the theoretical background, resource-based theory and agency theory are discussed. According to resource-based theory, a firm can grow continuously when it has competence and resource, and also the ability to develop them. The competence and resource can include capital, human resource, management skill, market information, ability to manage risk, etc. Meanwhile, agency theory views the relationship between franchisor and franchisee as an agency relationship. In agency theory, bonding capability and monitoring capability are the two key factors which promote internationalization of franchising companies. Based on the two theories, a conceptual model is designed. The model consists of two groups of variables. One is organizational factors including size, history, growth rate, price bonding and geographic dispersion. The other is whether a franchising company is operating overseas or not. We developed the following five research hypotheses basically describing the relationship between organizational factors and internationalization of franchising companies. H1: The size of franchising companies operating overseas is larger than that of franchising companies operating domestically. H2: The history of franchising companies operating overseas is longer than that of franchising companies operating domestically. H3: The growth rate of franchising companies operating overseas is higher than that of franchising companies operating domestically. H4: The price bonding of franchising companies operating overseas is higher than that of franchising companies operating domestically. H5: The geographic dispersion of franchising companies operating overseas is wider than that of franchising companies operating domestically. Data for the analyses are obtained from 2005 Korea Franchise Survey data co-generated by Ministry of Industry and Resource, GS1 Korea, and Korea Franchise Association. Out of 2,804 population companies, 2,489 companies are excluded for various reasons and 315 companies are selected as the final sample. Prior to hypotheses tests, validity and reliability of the measures of size, history, growth rate and price bonding are examined for further analyses. Geographic dispersion is not validated since it is measured using nominal data. A series of independent sample T-tests is used to find out whether there exists any significant difference between the companies internationalized and those operating only domestically for each organizational factor. Among the five factors, size and geographic dispersion show significant difference, growth rate and price bonding do not reveal any difference and, finally, history factor shows conflicting results in the difference depending on how to measure it.
shows the summary statistics for hypotheses testing. In conclusion, the results show that the size and history, which are the key variables in resource-based theory, have a significant relationship with internationalization and that geographic area, which belongs to agency theory, also has a strong relationship with internationalization. The results support the findings of extant research and, therefore, prove the usefulness of resource-based theory and agency theory in explaining internationalization of franchising companies. However, growth rate and price-bonding do not show a clear difference between the two types of companies. Accordingly, these two factors need further attention in the future research. Although this study shows meaningful findings theoretically and practically, it has several limitations. First, only organizational factors are considered even if there are various environmental factors influencing franchising firm's internationalization. Second, only being internationalized or not is considered. That is, modes of entry and the size of foreign operations are not included in the study. Third, internationalization strategy is often determined based on the desire for business expansion and higher profitability and egoistical reasons of the CEOs. However, this type of factors belonging to behavioral science is not discussed in the study. Finally, organizational ecology perspective is usefully applicable in explaining the survival and performance of internationally operating companies. Accordingly, research propositions based on this perspective need to be developed and tested.
This study aims at providing data for establishing a marketing strategy which can enhance the competitiveness of Korea domestic SPA(Specialty Store Retailer of Private Label Apparel) Brands by suggesting countermeasure strategy through the observation and analysis for SPA Brands, under the current circumstance in which the systematic and scholastic discussion for the matter, is lack, despite the diastrophism in fashion industry is prospected according to the rapid growth of Global SPA Brands. For this purpose, the characteristic and current status of Global SPA Brands is examined, and the main cause of growth is analyzed by approaching to their marketing characteristic, in this study. In relation with this situation, this study suggests the provisions as below, which are drawn from the analysis on Global SPA Brands' marketing strategy, so that Korea domestic SPA Brands could achieve successive performance under fierce competition. First, to be a competitive SPA Brands a business should be able to supply products with frequent product turnover by an interval level of one week or so, the existent product planning by seasons, as a business obtains various swift informations on consumers' demand with R&D center foundation. Secondly, SPA Brands should establish a strategy that a business can create high net profit by inventory management which enables lowering inventory ratio remarkably, and a strategy for innovative product supply by small quantity batch production, along with founding a high technological logistics system. Third, SPA Brands should establish a strategy for primary cost reduction by overseas dispersed outsourcing in order to enable diverse product development and rational price setting. Fourth, fashion marketers should establish also a strategy for communication by which brand image can be delivered effectively, by firming the brand identity and by informing product characteristic and customer service totally, with the method of VMD and flagship store. Additionary, fashion marketers also should establish a strategy by developing mobile application which can provide brand image and diverse other fashion related information.
This study has been done by giving the guide when development of menu or doing marketing strategy in Hotel Restaurant. All products and service has a regular course from induction in market to disappear, so it shall be come out Products Life Cycle theory. In eating business, under the tendency and existing cycle to change menu by taste of customers, liking variation, change of periodic status (environment), MLC(Menu Life Cycle) shall be advised by application PLC(Products Life Cycle) in the process of induction of some menu first and spreading the same business field and then deletion (disappearance) from menu because of no popular. In Emergence Stage, it shall be tried to inform new menu through Cooking Contest, presentation of new menu, free sampling party and others. In Growth Stage, it shall be changed package menu or set menu. In Maturity Stage, it shall be provided complimentary ticket, gift coupon or discount for the customers with some degree of selling record in order to increase using frequency and selling amount after insure new customers. In Decline Stage, it shall be groped for entry underdeveloped country or less advance nation, but there is no possibility to devote in enterprise, it shall be planned substitute menu development in order to withdraw. By inducting MLC concept, it shall be provided the available informations such as“how could some menu be circulate in some restaurant”“Accordingly do strengthen promotion activities or go to low developed area or overseas, or delete it from menuitems and so on”. In the time of decline some menu, it is judged to the time of plan(preparation) of new menu development. In the broad view, when consideration of the concept of menu life cycle, it shall be possible to know which menu is decayed and which menu is developed newly or grown-up, so it shall be provided the important information to estimate the tendency of changing menu and set-up a menu development plan.
While major alliance container carriers in the post-corona era are enjoying the largest boom in history with their fleet reduction strategy, shippers companies are in a state of deteriorating import and export price competitiveness due to increased logistics costs, and forwarders who act for shipping companies' logistics services are also experiencing the burden of rising freight rates It is in a state of overheated competition and worsening profits for attracting shippers. For this purpose, research data, literature studies, statistical data and data from overseas specialized networks were used as prior research. Online surveys and telephone interviews were conducted, and as a result, four areas of cold chain (including perishable cargo), project logistics, UN procurement logistics, and dangerous goods logistics, which were found to be particularly in high demand, were analyzed to suggest entry strategies.
Korean Journal of Construction Engineering and Management
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v.22
no.5
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pp.66-72
/
2021
Participation in official development assistance (ODA) construction projects can be proposed as a way to revitalize Korean small and medium-sized construction companies' entry into the overseas construction market. To this end, the necessary competency items were derived for the execution of the project, and a survey was conducted and an analysis of importance-current competency was performed. 24 out of a total of 32 competency items were analyzed as having a low level of competency compared to their importance, indicating that it is urgent to strengthen corporate-level capabilities for the smooth execution of related projects in the future. In detail, it is judged that it is necessary to seek to establish a preferential capacity-strengthening plan for contract management-related items such as the 'Construction-related fundamental laws, Contract management method, and International administration negotiation'.
The purpose of this study was to seek for solutions of activating convention hotels entering to the newly created market, focused on the case study of the convention hotel in KangwonLand in the competitive MICE environment. According to the analysis for reception setup for MICE, it is urgently required to improve shopping facilities, securing manpower, the accessibilities in KangwonLand convention hotel. This study suggests several ways to identify differentiation such as facilities discriminations, reasonable prices when holding conventions/events. It is also proposed that there is a need to focus incentive tour when marketing. To succeed in hosting events of MICE at the convention hotel, it appears to be considered to host large scale of domestic or overseas events, to measure reasonable room rates, promote niche market through middle or small scale events, attract customers to revisit and save transportation costs for participants. From the study, it is expected to find efficient ways to activate convention hotels through MICE market entry.
Proceedings of the Plant Resources Society of Korea Conference
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2018.10a
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pp.26-27
/
2018
With entry into force of the Nagoya Protocol to promote the fair sharing of the benefits of accessing and utilizing genetic resources, much support has been given to research on the development of biomaterials and products using domestic natural resources. Conservation and resource-saving of native species became very important through Nagoya Protocol enactment. The trend of cosmetic industry has been shifing from use synthetic chemicals to natural biomaterials, due to the safety regulations on new materials, ban on animal experiments, and expansion of cosmeceuticals range. In addition, functional cosmetic range has been expanded from whitening, wrinkle improvement, and ultraviolet shielding, to hair loss, hair loss alleviation, acne relaxation, and moisturizing of atopic skin, thus causing the activation of research about field of efficacy evaluation on natural biomaterials and commercialization. Chungbuk province is fostering the bio industry as a key industry for regional economic growth. For this purpose, Osong Biotechnology Complex/Ochang Science Industrial Complex in middle area, Jecheon biovalley in northern region, and Chungju Enterprise city have been established, thus playing a pivotal role in Bio innovative cluster in Korea. In particular, it was established the osong cosmetics clinical research support center to develop the cosmetics industry in chungbuk, thereby supporting clinical trials, efficacy evaluations, overseas certification, and overseas market entry in order to advance into the global market. In addition, oriental plants such as astragalus propinquus, schisandra chinensis, eucommia, alpiniae oxyphyllae fructus and biancaea sappan are being actively studied as global cosmetic ingredients through the promotion of various national research and development projects using natural materials in chungbuk province. The chungbuk natural product industry is expected to grow further throughout cosmetics industry development in the future, as companies and research institutes are actively promoting the secure index of effective material in natural products and effective material commercialization.
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