• Journal of Agricultural Extension & Community Development
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• v.24 no.3
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• pp.173-183
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• 2017

The purpose of this study was to identify differences by business motivation of agro-healing farm s in Korea. A survey was conducted for entrepreneurs in agro-healing farmers with self-administered questionnaires. Main results of this study were as follows: First, business motivation of agro-healing farm s in Korea can be classified to 1) education-oriented, 2) care-oriented, and 3) sale revenue-oriented motivation. Second, care-oriented farms provide healing services to people in need like the disabled. These farms may be required a long-term program such as residence-required format. And these farms need supports of health and medical service personnel or institutions. Third, sale revenue-oriented farms have sources of main income from agricultural products or processed goods made in these farms. Therefore, these farms may be required a business strategy such as product development, marketing rather than agro-healing programs. fourth, the estimation of a Multinominal logistic regression model determines the characteristics of agro-healing entrepreneurs who are most likely to opt for each type motivation of participating for agro-healing farm business. the most important determinants on business motivation of agro-healing farms were 'participants type in programs', 'program operating time', 'supporting health and medical service personnel or institutions' and 'program revenue ratio in farm operating revenue'.

• Journal of Korean Society for Quality Management
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• v.45 no.4
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• pp.957-968
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• 2017

Purpose: There are lots of efforts to increase the revenue of on-line travel agency due to the extreme competition in the hospitality industry. One of the way to improve the revenue is applying new concepted service for their business. In this study, it is introduced an innovative system design of hotel reservation for the on-line travel agency using the concept of an opaque product. Methods: By adopting the opaque product at the hotel reservation system, the reservation requests can increase because the customer tends to feel that they purchase the hotel service with relatively cheap price. The overall process for an innovative hotel reservation system is presented and the core algorithm to implement this system is also suggested through a mathematical model based optimization method. Results: To validate and to examine the proposed process and core algorithm, a numerical example is provided with the modified data of the hotels in Seoul metropolitan city. The discount prices and the overall revenue of hotels are generated according to hotel grade. Conclusion: It is confirmed that the revenue of the hotel tends to increase according to its grade. This is because that the customer want to use the new service which applying the concept of opaque product when the higher discount ratio are decided for lower grade hotels.

• KSII Transactions on Internet and Information Systems (TIIS)
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• v.13 no.3
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• pp.1164-1183
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• 2019

The rapid development of cloud computing and high requirements of operators requires strong support from the underlying Data Center Networks. Therefore, the effectiveness of using resources in the data center networks becomes a point of concern for operators and material for research. In this paper, we discuss the online virtual-cluster provision problem for multiple tenants with an aim to decide when and where the virtual cluster should be placed in a data center network. Our objective is maximizing the total revenue for the data center networks under the constraints. In order to solve this problem, this paper divides it into two parts: online multi-tenancy scheduling and virtual cluster placement. The first part aims to determine the scheduling orders for the multiple tenants, and the second part aims to determine the locations of virtual machines. We first approach the problem by using the variational inequality model and discuss the existence of the optimal solution. After that, we prove that provisioning virtual clusters for a multi-tenant data center network that maximizes revenue is NP-hard. Due to the complexity of this problem, an efficient heuristic algorithm OMS (Online Multi-tenancy Scheduling) is proposed to solve the online multi-tenancy scheduling problem. We further explore the virtual cluster placement problem based on the OMS and propose a novel algorithm during the virtual machine placement. We evaluate our algorithms through a series of simulations, and the simulations results demonstrate that OMS can significantly increase the efficiency and total revenue for the data centers.

• Korean Association of Arts Management
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• no.58
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• pp.179-204
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• 2021

Not only the consumption trend after the COVID-19 pandemic but also low financial interest rates have stimulated people to invest artworks. With the recent noticeable growth, art investments that mainly conducted by younger generation through online platform can be characterized by a fractional ownership in art market which means several people share one piece of artwork. This study explores 4 fractional ownership platforms in the domestic art market including Art Together, Art & Guide, Tessa, and Pica projects, using a business model canvas that describes nine key elements: Customer Segments, Value Proposition, Channels, Customer Relationships, Revenue Streams, Key Resources, Key Activities, Key Partners and Cost Structure. The four cases have similar business models, but the details of revenue streams are different. The key sources of revenue are the profit and commission of the work. Thus, maximizing the profit margin of artworks is the core of revenue streams, so selecting and purchasing highly profitable artworks are significant. Based on the analysis, there are 3 suggestions to continue fractional ownership platform businesses in art market successfully. First, it is required to have a long-term perspective on art investments, as a way to diverse asset portfolio. Second, business confidence should be increased to maintain customer loyalty. Third, the role of platforms as competent experts is important.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.16 no.2
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• pp.51-78
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• 2021

Followed by 'start-up', the theme of 'scale-up' has been considered as an important agenda in both corporate and policy spheres. In particular, although it is a term commonly used in industry and policy fields, even a conceptual definition has not been achieved from the academic perspective. "Corporate Growth" in the academic aspect and "Business Growth" in the practical management field have different understandings (Achtenhagen et al., 2010). Previous research on corporate growth has not departed from Penrose(1959)'s "Firm as a bundle of resources" and "the role of managers". Based on the theory and background of economics, existing research has mainly examined factors that contribute to firms' growth and their growth patterns. Comparatively, we lack knowledge on the firms' growth with a focus on 'annual revenue growth rate'. In the early stage of the firms, they tend to exhibit a high growth rate as it started with a lower level of annual revenue. However, when the firms reach annual revenue of more than 100 billion KRW, a threshold to be classified as a 'middle-standing enterprise' by Korean standards, they are unlikely to reach a high level of revenue growth rate. In our study, we used our sample of 333 companies (6.7% out of 5,000 'fastest-growing' companies) which reached 15% of the compound annual growth rate in the last three years with more than USD 100 million. It shows that sustaining 'high-growth' above a certain firm size is difficult. The study focuses on firms with annual revenue of more than $100 billion (approximately 120 billion KRW) from the 'Inc. 2020 fast-growing companies 5,000' list. The companies have been categorized into 1) Fast-growing companies (revenue CAGR 15%~40% between 2016 and 2019), 2) Hyper-growing companies (40%~99.9%), and 3) Super-growing (100% or more) with in-depth analysis of each group's characteristics. Also, the relationship between the revenue growth rate, individual company's strategy choice (market orientation, generic strategy, growth strategy, pioneer strategy), industry/market environment, and firm age is investigated with a quantitative approach. Through conducting the study, it aims to provide a reference to the 'Hyper-Growing Model' that combines the paths and factors of growth strategies. For policymakers, our study intends to provide a reference to which factors or environmental variables should be considered for 'optimal effective combinations' to promote firms' growth.

• Journal of Digital Contents Society
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• v.18 no.3
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• pp.457-463
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• 2017

VOD service provides an additional revenue model for digital broadcasting companies in addition to the existing subscription fees and advertisement-based revenue models. Therefore, each digital broadcasting company develops its own VOD service and performs frequent improvement work. In this circumstance, the developer is seeking to improve the efficiency of the VOD service development. To address the needs of such developers, this study conducted a basic study to apply the feature-oriented analysis model to the development of VOD services. The feature-oriented analysis model is recognized (through a number of case studies) as an effective tool for analyzing the requirements of softwares with the functions that are interconnected organically. In this paper, we developed a feature model of VOD service and designed the primary functions of each feature and the test-cases that can test the these functions, laying the foundation for developing VOD services based on feature-oriented analysis model.

• Convergence Security Journal
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• v.17 no.3
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• pp.51-57
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• 2017

VOD service provides an additional revenue for broadcasting companies in addition to the existing subscription fees and advertisement-based revenue. Therefore, each broadcasting company develops its own VOD service and performs frequent improvement work. This leads to the development of new VOD services, so developers are considering ways to effectively handle the frequent development needs. In this background, we conducted an underlying research to apply the feature-oriented analysis model to the development of VOD service. The feature-oriented analysis model used in this study is the Feature-Oriented Domain Analysis (FODA) developed by SEI of Carnegie Mellon University. FODA provides a tool for specifying a feature model of a software domain, based on which developers determine the configuration of a software with customers. This study developed a feature model of the VOD service domain and devised the functionalities and testcases in an integrated manner with the feature model. Additionally, we proposed a VOD service development process utilizing the feature model, function specification, and testcases.

• Proceedings of the Korean Operations and Management Science Society Conference
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• 2006.11a
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• pp.142-146
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• 2006

This paper considers a SCM issue concerned with an integrated problem of inventory control and dynamic pricing strategies when demands are price and time dependent. The associated price markdowns are conducted for inventory control in a two-layer market consisting of retailer and outlet as in fashion apparel market. The objective function consists of revenue terms (sales revenue and salvage value) and purchasing cost term. Specifically, decisions on price markdowns and order quantity are made to maximize total profit in the supply chain so as to have zero inventory level at the end of the sales horizon. To solve the proposed problem, a gradient method is applied, which shows an optimal decision on both the initial inventory level and the discount pricing policy. Sensitivity analysis is conducted on the demand parameters and the final comments on the practical use of the proposed model are presented.

• Journal of Distribution Science
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• v.10 no.12
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• pp.5-11
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• 2012

Purpose - This paper proposes measurement models to evaluate the management performance of small and medium-sized retail businesses on the basis of a trading area analysis that compares their proposed revenue to actual revenue in the trading area. Research design, data, methodology - The study proposes measurement models consisting of five stages, namely: (1) district background survey, (2) customer survey, (3) competitor survey, (4) business district survey, and (5) business performance analysis. Results - To identify business districts easily, this study preferred a minor-adjusted method based on the Euclidean distance, as it is simple to employ for the small and medium-sized businesses. This model was applied to select coffee shops in Daejeon. Results indicated that although the targeted shop was not located in an appropriate location, actual sales were higher than expected. Conclusions - Small- or medium-sized retail businesses face difficulties regarding the economies of scale and brand recognition and must choose an appropriate location to ensure management stability. However, such businesses will find it difficult to evaluate their competitive edge accurately using a trading area analysis.

• Journal of Applied Reliability
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• v.10 no.3
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• pp.183-197
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• 2010

Web businesses are one of the most dynamic industries where lots of new business models are emerging while the other obsoleted ones are fading away almost every day. It is, therefore, difficult to establish a classification scheme for ever-changing web businesses. Previous researches on business models focus on classifying web businesses in one dimension which made some web sites difficult to fit into one category. We propose two dimensional classification scheme based on the means and the sources of revenue. The two dimensional classification provides more clear and broad perspectives of the web businesses and ways to identify web sites in combinations of several business models.