• Journal of Distribution Science
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• v.17 no.5
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• pp.5-17
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• 2019

Purpose - This study aims to exploratorily analyze relationship among pressure on business failure, social safety net perception, and entrepreneurial intention targeting potential business founders - pre-entrepreneurs and re-entrepreneurs. Research design, data, and methodology - Out of 450 collected surveys, 386 were used for analysis. Among these, 216 were from pre-entrepreneurs and 170 were from re-entrepreneurs. Frequency analysis, reliability and validity analysis, and regression analysis were performed. Results - In analysis of pre-entrepreneur and re-entrepreneur's pressure on business failure and social safety net perception, objective environment perception - a subfactor of social safety net perception - had statistically significant difference between the two potential entrepreneur groups. Conclusions - We categorized potential entrepreneurs into pre-entrepreneurs and re-entrepreneurs. Also, the current study suggests importance of social safety net to vitalize food service business startup by validifying its mediating effect between pressure on business failure and attitude towards restaurant business establishment. This research also established groundwork for future studies on ways to improve entrepreneurial intention or startup business sustainability by deducing social safety net perception difference between pre-entrepreneurs and re-entrepreneurs. This study was able to analyze relationship between those two groups in terms of entrepreneurial intention and startup business sustainability.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.13 no.4
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• pp.1-12
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• 2018

During few decades, Korean economy has been growing with heavy and manufacturing industries. However, the economy meets limitations of growth rate, and employment rate. The Korean government has been trying to overcome these limitations using development of venture businesses and re-organization of industrial ecosystem. These efforts make high survival rate of recent venture companies. There are previous researches about relation between characteristics of entrepreneur and managerial performance, there are several limitations. Firstly, most of papers were based on survey with specific region or industry. Secondly, related researches were carried out with unable to distinguish among firm's survival periods. This paper uses the '2017 Survey of Korea Venture Firms' data that is approved by the Korean government. This data includes whole industries and survival periods. The aim of this research is finding the effect of characteristics of entrepreneur on managerial performance of venture firms by different survival periods using data envelopment analysis (DEA). If entrepreneur has doctoral degree, the firm's managerial performance is lower than bachelor degree. In addition, over 10 years of working career, and joint-venture have positive effect on firm's performance. This paper can provide valuable information to venture related policy makers and investment decision makers.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.15 no.2
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• pp.33-45
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• 2020

While venture creation is considered to be of high social and economic importance, entrepreneurial outcomes are inherently uncertain and that failure is thus a central feature of entrepreneurship. Although failure in entrepreneurship is pervasive and critical, the impact of prior failure on future entrepreneurship has not received significant attention in the literature. Although failure is a painful and costly experience for entrepreneurs, it can also provide a powerful learning opportunity for those experiencing it. It has been argued that entrepreneurial failure is not just a individual problem but a matter of social concern. As part of the restarting business support system, entrepreneurial re-education program is provided to support failed entrepreneurs. The aim of this study is to examine the effects of failed entrepreneurs' prior entrepreneurial experience and re-education on subsequent venture creation. Moreover, this study also examined the moderating effects of entrepreneurial motivation. For the analyses, we surveyed the entrepreneurs who tried to re-start the subsequent business after the entrepreneurial failure through the "Revitalization Center for Strained Entrepreneur". The result found that failed entrepreneurs who learned a lot from their previous founding experience were more likely to re-start their subsequent business. The failed entrepreneurs who learned a lot from entrepreneurial re-education program were more likely to re-start their subsequent business. Moreover, the positive effect of failed entrepreneurs' previous founding experience and entrepreneurial re-education program on re-starting subsequent business was found to be weaker when entrepreneurial extrinsic motivation was high.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.14 no.3
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• pp.13-26
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• 2019

There is a growing interest in the entrepreneurial activity that has long been considered essential for sustainable economic development and value creating. Although it is strongly encouraged by focusing on the positive aspects of venturing, less has been paid attention to entrepreneurial failure, which is the biggest cause of hesitation in starting a business. The uncertain and risky nature of entrepreneurship implies a considerable possibility of failure. Even if it fails, the experience and knowledge of entrepreneurs acquired through entrepreneurship indeed offers valuable lessons for the re-venturing, which can serve as an important social asset that should not be lost. It has been argued that re-entering the same industry for the subsequent venture maximizes the learning effect through utilizing potential benefits from industry-specific knowledge. Although the re-startup after entrepreneurial failure is a very important topic in the studies on serial entrepreneurs, there is a paucity of systematic empirical investigation. This study responds to calls for more research on the re-startup after entrepreneurial failure, and specifically complements existing studies on serial entrepreneurs. Focusing on the entrepreneurs' attribution for the failure, we conducted an empirical analysis of how this affects the re-startup process. Moreover, we also examined the moderating effects of entrepreneurial self-efficacy and resilience. For the analyses, we surveyed the entrepreneurs who tried to re-start the subsequent business after the entrepreneurial failure through the "Revitalization Center for Strained Entrepreneur". The results found that failed entrepreneurs who blamed internal factors for their previous venture failures were likely to keep the same industry for their subsequent business. In addition, the positive effect of internal attribution on maintaining the same industry for the re-startup was found to be stronger when entrepreneurial self-efficacy and resilience were high.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.9 no.2
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• pp.1-13
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• 2014

This study is preliminary founding start-ups of restaurant entrepreneurs to study the characteristics of management in order to provide useful information was studied. Survey period is from 2013 March 15 to August 31. About the nature of the preparation and establishment founder findings restaurant entrepreneurs of Western Gyeongnam area were most often in the form of an independent establishment has been compiled, work experience and other industries operating experience was more than restaurant entrepreneurs of operating experience. Hypothesis Testing in accordance with results of this study are as follows. First, the 50 founders than 30 founders quickly when the customer complaint or that service, order food and non-food note is issued after obtaining the order or that provide food, no customer is often inconvenient check the sharing services, such as personnel activities were devoting a lot of effort. Second, the re-startups restaurant entrepreneurs than new startups restaurant entrepreneurs was founded after the founder of career-related customer complaints about food more active coping was, and re-startups restaurant entrepreneurs by the founder other than business founded by the founder of the food-related customer complaints more aggressively for coping, respectively. Third, restaurant entrepreneurs of the store operations management has integrity, words and actions match, such as the degree of belief in the promise of reliability and the possibility of failure, which means the degree of recognition and response efforts are having an impact deal. Fourth, restaurant of food service management services and after-sales service has impact on the founder of the self-efficacy and self-efficacy of pre-service features and reliability founder affecting. Fifth, the revenue of the restaurant for dealing with customer complaints management includes efforts are having an impact. Sixth, restaurant founder of reliability and customer care has influenced the self-efficacy. Seventh, management of operational management activities have a positive impact on business performance are.

• 한국벤처창업학회:학술대회논문집
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• 2007.04a
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• pp.405-433
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• 2007

This study is conducted to examine how purchase behaviors of consumers have affected by the promotion of coupons in internet shopping mall. This study was conducted with the purpose of identifying the differences in purchase behavior based on consumer' s perception and experience of internet shopping mall coupons, and based on consumers' perception of cost and value of coupons, using a theoretic framework presented in previously conducted studies. The results of this study can be summarized as follows. First, based on the perception of coupons, there were significant differences in intent to use and intent to re-use at the time when coupons are offered, and at the time when coupons are offered, no significant differences were found between the level of interest and the importance of coupon at the time of visiting the shopping mall; however, significant differences were found in the overall purchase behavior based on perception of coupons. Second, when overall differences m purchase behavior based on experience in coupon use was observed, having experience in using coupons showed a higher average than did having no experience in using coupons, showing a significant difference. It was found that compared to those without experience in using coupons, those with experience with coupons had higher intent to use at the time when coupon is offered, intent to re-use at the time when coupon is offered, and higher level of purchase behavior in the importance of coupons at the time of visiting the shopping mall. Third, when relationship between purchase behaviors, cost of coupon, and perception of convenience was observed, a clear static relationship was found. This suggests that as the cost and perception of convenience of coupon increases, purchase behavior also increases. Such result suggests that there is a difference in purchase behavior based on experience in coupon use. When relationship of purchase behavior by variables of cost of coupon and perception of convenience is observed, it has a positive relationship with the perception that the use of coupon includes saving money, financial help, enjoyment of use, habitual use, has a short effective date, and has a negative relationship with the perception that it saves little money and is a waste of time. Therefore, it can be seen that purchase behavior has the highest relationship with enjoyment of coupon use and habitual coupon use. Such results suggest that purchase behavior will be significantly influenced based on cost of coupon and perception of convenience.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.16 no.6
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• pp.17-29
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• 2021

Recently, as social distancing have been raised due to the re-spread of COVID-19, the number of serial entrepreneurs who are closing their business is rapidly increasing. Learning from failure is a source of success, but business failure can result in psychological and economic losses and negative emotions of the serial entrepreneur. At this point, it is very important to find a way to recover the negative emotions caused by business failures of serial entrepreneurs. Recently, a strategic model has emerged to deal with the negative emotions of grief caused by business failures of serial entrepreneurs. This study identified the recovery factors from the grief of business failures of serial entrepreneurs and analyzed Shepherd's(2003) three areas: loss orientation, restoration orientation, and dual process. To this end, individual in-depth interviews were conducted with 12 small business serial entrepreneurs who challenged re-startup to identify the attributes of recovery factors that were not identified with quantitative data. As a result of the study, first, recovery factors were investigated in three areas: individual orientation, family orientation, and network orientation. It was found to help improve recovery in nine categories: self-esteem, persistence, personal competence, hobbies, self-confidence, family support, networks, religion, and social support. Second, recovery obstacle factors were investigated in three areas: psychological, economic, and environmental factors. Nine categories including family, health, social network, business partner, competitor, partner, fund, external environment, and government policy were found to persist negative emotions. Third, the emotional processing process for grief was investigated in three areas: loss orientation, restoration orientation, and dual process. Ten categories such as family, partner support, social member support, government support, hobbies, networks, change of business field, moving, third-party perspective, and meditation were confirmed to enhance rapid recovery in the emotional processing process for grief. The implications of this study are as follows. The process of recovering from the grief caused by business failures of serial entrepreneurs was attempted by a qualitative study. By extending the theory of Shepherd(2003), This study can be applied to help with recovery research. In addition, conceptual models and propositions for future empirical research were presented, which can be discussed in carious academic ways.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.1 no.2
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• pp.101-134
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• 2006

This study is conducted to examine how purchase behaviors of consumers have affected by the promotion of coupons in internet shopping mall. This study was conducted with the purpose of identifying the differences In purchase behavior based on consumer's perception and experience of internet shopping mall coupons, and based on consumers' perception of cost and value of coupons, using a theoretic framework presented in previously conducted studies. The results of this study can be summarized as follows. First, based on the perception of coupons, there were significant differences in intent to use and intent to re-use at the time when coupons are offered, and at the time when coupons are offered, no significant differences were found between the level of interest and the importance of coupon at the time of visiting the shopping mall; however, significant differences were found in the overall purchase behavior based on perception of coupons. Second, when overall differences In purchase behavior based on experience in coupon use was observed, having experience in using coupons showed a higher average than did having no experience in using coupons, showing a significant difference. It was found that compared to those without experience in using coupons, those with experience with coupons had higher intent to use at the time when coupon is offered, intent to re-use at the time when coupon is offered, and higher level of purchase behavior In the importance of coupons at the time of visiting the shopping mall. Third, when relationship between purchase behaviors, cost of coupon, and perception of convenience was observed, a clear static relationship was found. This suggests that as the cost and perception of convenience of coupon increases, purchase behavior also increases. Such result suggests that there is a difference in purchase behavior based on experience in coupon use. When relationship of purchase behavior by variables of cost of coupon and perception of convenience is observed, it has a positive relationship with the perception that the use of coupon includes saving money, financial help, enjoyment of use, habitual use, has a short effective date, and has a negative relationship with the perception that it saves little money and is a waste of time. Therefore, it can be seen that purchase behavior has the highest relationship with enjoyment of coupon use and habitual coupon use. Such results suggest that purchase behavior will be significantly influenced based on cost of coupon and perception of convenience.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.3 no.1
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• pp.73-103
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• 2008

Over the past few years, "business models" has surged into the management vocabulary. But, while it has become quite fashionable to discuss business models, there has been still much confusion about what are business models and how they could make. In fact, business models can serve a positive and powerful role in corporate management. While other authors have recently offered definitions of "business model", none of them appears to be generally accepted. This paper presents the absence of the generally definition of the business models, elements of business model and classify business logic. To help start-up entrepreneurs better understand, found and check business models thus, this paper propose a method of business model, understanding, founding and checking. The dissertation will present an effective business model building method which is necessary for the start-up entrepreneurs to start business. This paper consists of three parts. first is showing the previous study of business model. The second is the re-definition business model and elements based on the first and to present a new method of business model plating and checking for start-up IT (information technology) company's entrepreneurs. The last is application of the methode. This study applied the methode to a company which is located in "DAEDEOK INNOPOLIS"; this company has specialized Information technology.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.12 no.5
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• pp.177-189
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• 2017

The purpose of this research is to investigate the factors which effect the intention to reemploy after the retirement and the mediation effect of the social capitalism for retired and prospective retired baby boomers. Starting from 2010, baby boomers have been retiring at a large scale. However retirement at a large scale without securing provision for fiancial wise in later life can lead to many issues regarding social and fiancial wise such as instability of labour market and increase of spending in society welfare cost and such on. Change of individual's self prospective and institutional support to help prepare find new career for next 3decade after the retirement needs to be concretized. The results of this study suggest that the management orientation affects the social capital positively and the autonomous orientation does not affect the relationship between career orientation and social capital. In terms of the relationship between career orientation and reemployment intention, management orientation does not affect the intention of the entrepreneur but affects the reemployment intention positively, while the autonomous intention affects neither entrepreneurial intention nor reemployment intention (+), Respectively. Social capital has a positive effect on the intention of reemployment, and the mediating effect of social capital on the relationship between career orientation and reemployment. Also, while in the work force, potential retiring baby boomer workers should be systematically supported with education, training and reemployment program based on individual's career orientation and allowing them to stay for a longer period in the labour market can be the implication to the solution for the economic stability and increasing social cost such as public pensions.