• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.6 no.1
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• pp.109-132
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• 2011

While the resource-based view suggests that a firm's competitive advantage rests on a set of valuable, rare and inimitable resources more generally (Barney, 1991), research in new firms has more specially indicated a link between initial resources and early performance and survival (Bruderl and Schussler, 1990; Fichman and Levinthal, 1991; Carroll et al., 1996). The RBV primarily focuses on the particular resources, and their characteristics, that provide the potential for advantage (Conner, 1991). Yet in order to realize this advantage, organizations must not only develop their resources, but also effectively deploy them (Admit and Shoemaker, 1993). This suggests that advantage from resources may reside in both the input (resource development) side and the output (resource deployment) side. This research looks at venture survival as a function of both the resources a firm owns, and the resources it can access from others. We focus more specifically on technology resources, which are among a technology-based firm's most critical resources (Itami, 1987). In addition, technological knowledge can contribute a large portion of the value of a firm's products (Goodman and Lawless, 1994). We look at both the input and output side: the pool of technology resources that serve as an input to a firm's activities, and the market that values and purchases the output of this activity. We take an international perspective, examining whether resources explain internationalization on the input and output side, and in turn, whether this internationalization can explain survival. We explore three sets of questions. First, can survival in entrepreneurial firms be explained as a function of the resources a firm owns, and beyond that, to those the firm can access, and still further, to those the firm can access internationally? Second, do resources explain internationalization on both the input and output side? And finally, does internationalization explain survival? Implications for theory include extending the RBV to not only include a firm's resources, but its access to the resources of other entities. In addition, examining internationalization on both the input and output side enables us to understand not just the potential advantage of resources, but the manner in which they are deployed as a source of advantage. This research also contributes to the literature on international entrepreneurship by examining whether internationalization can explain survival for early stage firms. For practitioners, this research will provide insights on the importance of building alliances and, in so doing, broadening an organization's perspective about the technology resources available to the firm on the input side. The study will also inform practitioners about the value of maximizing the market for a firm's valuable resources. In addition, this research provides an extraordinary opportunity to access a large, comprehensive, and longitudinal dataset on technology-based ventures in Korea.

• Fire Science and Engineering
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• v.28 no.3
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• pp.10-19
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• 2014

The fast evacuation from fire floors to evacuation floors in high-rise building fires can minimize the human damage. In this study, an evacuation instrument, which are applicable to the high-rise buildings of adaptable escape mechanisms by the current NFSC 301 (national fire safety code 301), were selected to analyze the applicability in the high-rise buildings over 11th floor through the site adaptability test. The results of the site test were as follows. The elevator type evacuation instrument of new concept developed as a new technology by compensating the defect of evacuation instrument limiting in the high-rise buildings over 11th floor had completed the stability test and the performance certification test in fire stations, which there were no problems in the introduction of the elevator type evacuation instrument as an escape mechanism in the high-rise buildings. The elevator type evacuation instrument using escapers' weight without using electric power was an escape mechanism that many people could evacuate in a short period of time when a fire broke out in the high-rise buildings. In particular, The elevator type evacuation instrument operated by nonpower had the adaptability as a customized escape mechanism considering user characteristics in the buildings for the disabled or patients with an advanced disease.

• Journal of Venture Innovation
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• v.4 no.1
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• pp.51-65
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• 2021

The HR policy in the public sector was closed and operated mainly on written tests, but in 2006, a new evaluation, promotion and education system based on competence was introduced in the promotion and selection system of civil servants. In particular, the seniority-oriented promotion system was evaluated based on competence by operating an Assessment Center related to promotion. Competency evaluation is known to be the most reliable and valid evaluation method among the evaluation methods used to date and is also known to have high predictive feasibility for performance. In 2001, 19 government standard competency models were designed. In 2006, the competency assessment was implemented with the implementation of the high-ranking civil service team system. In the public sector, the purpose of the competency evaluation is mainly to select third-grade civil servants, assign fourth-grade civil servants, and promotion fifth-grade civil servants. However, competency assessments in the public sector differ in terms of competency assessment objectives, assessment processes and competency assessment programmes compared to those in the private sector. For the purposes of competency assessment, the public sector is for the promotion of candidates, and the private sector focuses on career development and fostering. Therefore, it is not continuously developing capabilities than the private sector and is not used to enhance performance in performing its duties. In relation to evaluation items, the public sector generally operates a system that passes capacity assessment at 2.5 out of 5 for 6 competencies, lacks feedback on what competencies are lacking, and the private sector uses each individual's competency score. Regarding the selection and operation of evaluators, the public sector focuses on fairness in evaluation, and the private sector focuses on usability, which is inconsistent with the aspect of developing capabilities and utilizing human resources in the right place. Therefore, the public sector should also improve measures to identify outstanding people and motivate them through capacity evaluation and change the operation of the capacity evaluation system so that they can grow into better managers through accurate reports and individual feedback

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.8 no.3
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• pp.189-204
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• 2013

Today, politics, economy and technique in the world are rapidly changed. To respond to these changes public institutions as well as government and corporate try to change themselves and to adapt these situation and environment. Total payroll costs system which is one of critical methods to adapt changing world began to introduce in 2004 for public services in Korea. After exhibition and enforcement, all education administration in Korea adopted this system in 2013. This study focus on how total payroll costs system can be successfully controled and utilized, and who this system increase organizational effectiveness and efficacy in public services. Organizational members' effort, perspective, attitude and behavior are most important factors for organizational change and new option. Organizational change and adaptation always involve members' change and adaptation, so this study emphasizes on members' perspective and attitude on total payroll costs system. As a result, distribution justice, procedure justice, and receptivity about total payroll costs system are related to organizational performance such as job satisfaction and organizational commitment. This means organizational members' perspective(distribution justice and procedure justice) and attitude(receptivity) are most crucial factors for effectiveness and efficacy of total payroll costs system. Furthermore with distribution justice, procedure justice and receptivity, total payroll costs system would increase members' job satisfaction and organizational commitment. To sum up, members' perspective and attitude are most important factors for change, thus for success of total payroll costs system, we should understand how people are critical, especially their distribution justice, procedure justice, and receptivity; and also how total payroll costs system are valuable system; and how we can control and handle this system.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.19 no.2
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• pp.45-61
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• 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.

• Journal of Global Scholars of Marketing Science
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• v.18 no.4
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• pp.61-118
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• 2008

The purpose of this research is to construct research framework for international franchising based on existing literature and to identify research components in the framework. Franchise can be defined as management styles that allow franchisee use various management assets of franchisor in order to make or sell product or service. It can be divided into product distribution franchise that is designed to sell products and business format franchise that is designed for running it as business whatever its form is. International franchising can be defined as a way of internationalization of franchisor to foreign country by providing its business format or package to franchisee of host country. International franchising is growing fast for last four decades but academic research on this is quite limited. Especially in Korea, research about international franchising is carried out on by case study format with single case or empirical study format with survey based on domestic franchise theory. Therefore, this paper tries to review existing literature on international franchising research, providing research framework, and then stimulating new research on this field. International franchising research components include motives and environmental factors for decision of expanding to international franchising, entrance modes and development plan for international franchising, contracts and management strategy of international franchising, and various performance measures from different perspectives. First, motives of international franchising are fee collection from franchisee. Also it provides easier way to expanding to foreign country. The other motives including increase total sales volume, occupying better strategic position, getting quality resources, and improving efficiency. Environmental factors that facilitating international franchising encompasses economic condition, trend, and legal or political factors in host and/or home countries. In addition, control power and risk management capability of franchisor plays critical role in successful franchising contract. Final decision to enter foreign country via franchising is determined by numerous factors like history, size, growth, competitiveness, management system, bonding capability, industry characteristics of franchisor. After deciding to enter into foreign country, franchisor needs to set entrance modes of international franchising. Within contractual mode, there are master franchising and area developing franchising, licensing, direct franchising, and joint venture. Theories about entrance mode selection contain concepts of efficiency, knowledge-based approach, competence-based approach, agent theory, and governance cost. The next step after entrance decision is operation strategy. Operation strategy starts with selecting a target city and a target country for franchising. In order to finding, screening targets, franchisor needs to collect information about candidates. Critical information includes brand patent, commercial laws, regulations, market conditions, country risk, and industry analysis. After selecting a target city in target country, franchisor needs to select franchisee, in other word, partner. The first important criteria for selecting partners are financial credibility and capability, possession of real estate. And cultural similarity and knowledge about franchisor and/or home country are also recognized as critical criteria. The most important element in operating strategy is legal document between franchisor and franchisee with home and host countries. Terms and conditions in legal documents give objective information about characteristics of franchising agreement for academic research. Legal documents have definitions of terminology, territory and exclusivity, agreement of term, initial fee, continuing fees, clearing currency, and rights about sub-franchising. Also, legal documents could have terms about softer elements like training program and operation manual. And harder elements like law competent court and terms of expiration. Next element in operating strategy is about product and service. Especially for business format franchising, product/service deliverable, benefit communicators, system identifiers (architectural features), and format facilitators are listed for product/service strategic elements. Another important decision on product/service is standardization vs. customization. The rationale behind standardization is cost reduction, efficiency, consistency, image congruence, brand awareness, and competitiveness on price. Also standardization enables large scale R&D and innovative change in management style. Another element in operating strategy is control management. The simple way to control franchise contract is relying on legal terms, contractual control system. There are other control systems, administrative control system and ethical control system. Contractual control system is a coercive source of power, but franchisor usually doesn't want to use legal power since it doesn't help to build up positive relationship. Instead, self-regulation is widely used. Administrative control system uses control mechanism from ordinary work relationship. Its main component is supporting activities to franchisee and communication method. For example, franchisor provides advertising, training, manual, and delivery, then franchisee follows franchisor's direction. Another component is building franchisor's brand power. The last research element is performance factor of international franchising. Performance elements can be divided into franchisor's performance and franchisee's performance. The conceptual performance measures of franchisor are simple but not easy to obtain objectively. They are profit, sale, cost, experience, and brand power. The performance measures of franchisee are mostly about benefits of host country. They contain small business development, promotion of employment, introduction of new business model, and level up technology status. There are indirect benefits, like increase of tax, refinement of corporate citizenship, regional economic clustering, and improvement of international balance. In addition to those, host country gets socio-cultural change other than economic effects. It includes demographic change, social trend, customer value change, social communication, and social globalization. Sometimes it is called as westernization or McDonaldization of society. In addition, the paper reviews on theories that have been frequently applied to international franchising research, such as agent theory, resource-based view, transaction cost theory, organizational learning theory, and international expansion theories. Resource based theory is used in strategic decision based on resources, like decision about entrance and cooperation depending on resources of franchisee and franchisor. Transaction cost theory can be applied in determination of mutual trust or satisfaction of franchising players. Agent theory tries to explain strategic decision for reducing problem caused by utilizing agent, for example research on control system in franchising agreements. Organizational Learning theory is relatively new in franchising research. It assumes organization tries to maximize performance and learning of organization. In addition, Internalization theory advocates strategic decision of direct investment for removing inefficiency of market transaction and is applied in research on terms of contract. And oligopolistic competition theory is used to explain various entry modes for international expansion. Competency theory support strategic decision of utilizing key competitive advantage. Furthermore, research methodologies including qualitative and quantitative methodologies are suggested for more rigorous international franchising research. Quantitative research needs more real data other than survey data which is usually respondent's judgment. In order to verify theory more rigorously, research based on real data is essential. However, real quantitative data is quite hard to get. The qualitative research other than single case study is also highly recommended. Since international franchising has limited number of applications, scientific research based on grounded theory and ethnography study can be used. Scientific case study is differentiated with single case study on its data collection method and analysis method. The key concept is triangulation in measurement, logical coding and comparison. Finally, it provides overall research direction for international franchising after summarizing research trend in Korea. International franchising research in Korea has two different types, one is for studying Korean franchisor going overseas and the other is for Korean franchisee of foreign franchisor. Among research on Korean franchisor, two common patterns are observed. First of all, they usually deal with success story of one franchisor. The other common pattern is that they focus on same industry and country. Therefore, international franchise research needs to extend their focus to broader subjects with scientific research methodology as well as development of new theory.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.6
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• pp.71-86
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• 2023

Although starting a business plays a key role in strengthening national competitiveness and creating jobs, it is recognized as a risky choice. Failure to start a business can result in a wide range of negative effects, such as loss of personal wealth as well as deterioration of national competitiveness. This study considers startups that have reached a level of sustainable growth by achieving performance above the minimum profitability and sales standards for KOSDAQ listing, or achieved EXIT through sale or listing, as successful startups. based on the practical experiences of 23 successful entrepreneurs and Based on perception, the importance and priorities of startup success factors were derived through stratification analysis (Analytic Hierarchy Process, AHP), and interviews were conducted. In particular, using the ERIS model, we comprehensively analyze various variables of a start-up by considering the four elements of the entrepreneur, resources, industry, and strategy, and examine the changes and importance of success factors according to the characteristics of each growth stage of the start-up. As a goal, we specifically identified the challenges and opportunities faced by entrepreneurs at each stage. As a result of the study, the order of importance of the top factors of success factors in the start-up period was found to be the entrepreneur, resources, industry, and strategy. In particular, the importance of the entrepreneur's entrepreneurship spirit, special capabilities, general capabilities, and human resources was emphasized. The order of importance of the top factors of success factors during the growth period was found in the following order: entrepreneur, resources, industry, and strategy. In particular, the importance of general capabilities, entrepreneurship, and human and organizational resources was emphasized. This study is significant in that it analyzes startup success factors from the perspective of successful entrepreneurs and provides useful insights and directions to entrepreneurs and policy makers.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.4 no.1
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• pp.89-111
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• 2009

Since the financial crisis in 1997, the Korean economy has a steady increase of people who tend to establish their own business by 2008. Business foundations can be divided into independent businesses and franchise businesses. This study focuses on what type of business owners among franchise enterprisers can achieve success. This is intended to reduce trial and error by drawing upon success factors in the stages of establishment, operation, and achievement based on a total sample of 350 individual business sites. The result shows that the success factors in the stage of establishment include (1) Preparation such as foundation education (2) Marketing capability (3) Appropriateness of Business Item (4) Other founder's entry barrier, conglomerate's entry regulation and (5) Head Office Support including service education, market survey education, marketing support. On the other hand, the success factors in the stage of operation include the supervisor capability, Marketing capability, Head Office Support, Customer Management Capability and Employee Satisfaction. Additionally after choosing the major factors according to each stage, multiple regression analysis was processed and interpreted. Finally, we believe that the franchise or independent business foundations can make a profit as well as increase continuous sales and customer satisfaction only with thorough and careful preparation in all stages of foundation and operation. This study is expected to contribute to those who prepare new business in franchise domain to minimize failures with deep consideration of the success factors in the franchise.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.7 no.3
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• pp.167-179
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• 2012

This research is brought to suggest the policy paradigm shift alternative and to show breakthrough by diagnosing the cons of government's current youth entrepreneurship promotion emphasizing a showup performance. More specific points, first, this paper investigate the policy limitations of government's current youth entrepreneurship promotion. Second, this paper develop upgrade model of youth entrepreneurship promotion through benchmarking the foreign successful cases. Third, this paper suggest, the alternative of taking off ver 1.0 of government's current youth entrepreneurship promotion policy paradigm, new paradigm of government policy emphasizing 'Good Quality Youth Startup.' In this research, youth entrepreneurship promotion policy should be emphasized that the implementation of the "open" system. Open systems can collaborate in the young founder of the market building, matching based entrepreneurship run in conjunction with enough experience and the founder of the startup entirely after reviewing the market, or starting to reconsider, and also will open the path be employed in the leading venture firms participating in the group market. Therefore, entrepreneurship promotion policy raising the capabilities of the current situation of young people in the business after graduating from a wide selection of alternative plan that is characterized by a large system.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.13 no.3
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• pp.125-140
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• 2018

According to statistics, it is shown that domestic SMEs rely on bank loans for the majority of fund procurement. From financial information shortage (Thin file) that does not provide information necessary for credit evaluation from banks such as financial statements. In order to overcome these problems, recently, in alternative finance such as P2P, using differentiated information such as demographics, trading information and the like utilizing Fintech instead of existing financial information, small funds A new credit evaluation method has been expanding to provide SMEs with small amounts of money. In this paradigm of environmental change, in this research, credit evaluation which can expand fund supply to SMEs by utilizing big data based on trade area information such as sales fluctuation, location conditions etc. In this research, we try to find such a solution. By analyzing empirically the big data generated in the trade area, we verify the effectiveness as a credit evaluation factor and try to derive the main parameters necessary for the business performance evaluation of the founder of SMEs. In this research, for 17,116 material businesses in Seoul City that operate the service industry from 2009 to February 2018, we collect trade area information generated for each business location from Big Data specialized company NICE Zini Data Co., Ltd.. We collected and analyzed the data on the locations and commercial areas of the facilities that were difficult to obtain from SMEs and analyzed the data that affected the Corporate financial Distress. It is possible to refer to the variable of the existing unused big data and to confirm the possibility of utilizing it for efficient financial support for SMEs, This is to ensure that commercial lenders, even in general commercial banks, are made to be more prominent in one sector of the financing of SMEs. In this research, it is not the traditional financial information about raising fund of SMEs who have basically the problem of information asymmetry, but a trade area analysis variable is derived, and this variable is evaluated by credit evaluation There is differentiation of research in that it verified through analysis of big data from Trading-area whether or not there is an effect on.