• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.14 no.6
• /
• pp.103-117
• /
• 2019

Under the uncertainties and the consequent turmoils of the IMF financial crisis in Korea, Hyunsung Techno was founded in 1997 on the basis of automobile press molding which is critical for the quality of automobile. Ever since, Hyunsung Techno has grown rapidly based on the domestic market; however, gradually, it had faced a stalemate in terms of the saturation, on the supply side and the growth limit, on the demand side, of the domestic molding market. Accordingly, Hyunsung pushed for a strategy to localize overseas markets and a new acquisition strategy instead of resting on the domestic mold industry's growth, and the success of these strategies enabled it to leap forward into a global company with five companies including affiliates and 70 billion won in sales. The main reason why Hyunsung Techno evolved from a small and medium-sized manufacturing company into a global businesses is due to the success of Boa Constrictor M&A strategy. Its acquisition strategy is not just a successful case of any acquisition, but a rare, maybe the first domestic case of a successful acquisition of a primary supplier by a secondary supplier. Through the success of this strategy, Hyunsung Techno has achieved a continuous growth of businesses, an increase in sales volume, and expansion into new businesses. And on top of that, this achievements is leading it to be a global conglomerate In this study, Hyunsung Techno's success strategy, which is transformed from a small domestic manufacturing company into a global enterprise, was analyzed in detail with its development stages divided into start-up, overseas expansion, acquisitions, and business diversification. Eventually, this case study is meant to offer strategic implications for other small and medium-sized businesses under the current, gloomy economy of low or zero growth of today.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.16 no.6
• /
• pp.249-267
• /
• 2021

The use of big data accumulated along with the progress of digitalization is bringing disruptive innovation to the global agricultural industry. Recently, the government is establishing an agricultural big data platform and a support organization. However, in the domestic agricultural industry, the use of big data is insufficient except for some companies in the field of cultivation and growth. In this context, this study identifies factors affecting the intention to use big data in terms of technology, organization and environment, and also confirm the moderating effect of technical field, focusing on agricultural ventures which should be the main entities in creating innovation by using big data. Research data was obtained from 309 agricultural ventures supported by the A+ Center of FACT(Foundation of AgTech Commercialization and Transfer), and was analyzed using IBM SPSS 22.0. As a result, Among technical factors, relative advantage and compatibility were found to have a significant positive (+) effect. Among organizational factors, it was found that management support had a positive (+) effect and cost had a negative (-) effect. Among environmental factors, policy support were found to have a positive (+) effect. As a result of the verification of the moderating effect of technology field, it was found that firms other than cultivation had a moderating effect that alleviated the relationship between all variables other than relative advantage, compatibility, and competitor pressure and the intention to use big data. These results suggest the following implications. First, it is necessary to select a core business that will provide opportunities to generate new profits and improve operational efficiency to agricultural ventures through the use of big data, and to increase collaboration opportunities through policy. Second, it is necessary to provide a big data analysis solution that can overcome the difficulties of analysis due to the characteristics of the agricultural industry. Third, in small organizations such as agricultural ventures, the will of the top management to reorganize the organizational culture should be preceded by a high level of understanding on the use of big data. Fourth, it is important to discover and promote successful cases that can be benchmarked at the level of SMEs and venture companies. Fifth, it will be more effective to divide the priorities of core business and support business by agricultural venture technology sector. Finally, the limitations of this study and follow-up research tasks are presented.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.7 no.1
• /
• pp.225-232
• /
• 2012

The purpose of this study is to explore the necessity of technology commercialization aiding service from government-supported R&D institutions and find key success factors for market performance improvement of business ventures and SMEs. For this aim, we researched relevant theories and KICET(Korea Institute of Ceramic Engineering and Technology)'s "Ceramic Hidden Champion Supporting Project. As government-supported R&D institutions, KICET is not only providing its original main service which is technology advising and development, but also providing a full range of technology commercialization aiding service for business ventures including diagnosis, strategy planning, capital procurement, overseas marketing activity. Qualitative analysis based on relevant theories and meta-analysis framework suggest that such expansion of services is desirable for government-supported R&D institutions to increase market performance of business ventures and SMEs. To lead this business to success, we should develop effective management system and incentive system for external supporting companies and client companies. Also, coordination between team member's activities and budget procurement issue should be solved for further performance creation.

• Journal of Agricultural Extension & Community Development
• /
• v.14 no.2
• /
• pp.301-328
• /
• 2007

The purposes of this study were to classify the silver farming types and to investigate proper crops for silver farmers. Data were collected from 408 farmers returned from the urban area. Descriptive statistics were employed using SPSS/PC windows program. After then, researchers discussed the silver farming patterns and their proper crops, and tried to analyze the silver farming model. Major results were as follows: The farming aims of retirees, urban residents as well as farmers returned from the urban area were various from hobby/ leisure to income generating activities. Fourteen types of silver farming were classified by farming aim and residential area of retirees. Retirees in the hobby/leisure-oriented silver farming type can select and enjoy the various plants, animals, and insects as well as crops due to their small scale. Silver farmers in the self-sufficiency type may select crops for their food. Income-oriented silver farmers may have difficulties in choosing the proper crop. They must consider their income needs, health status and field location. Profit-oriented silver farmers with venture mind can have some business opportunities in the agricultural sectors in spite of severe competition. As the aged silver farmers have poor health, they must keep work safety rules, use the proper work-aids, and utilize the labor-saving farming system.

• Fashion & Textile Research Journal
• /
• v.10 no.5
• /
• pp.589-600
• /
• 2008

The purpose of the study was to segment home-shoppers by the Mixture model and to examine the characteristics of the segmented markets. Total 700 copies of questionnaires were distributed to home-shoppers more than 19 years old in Seoul and Busan and analyzed 638 copies with the Mixture model using LatentGold Program. The results of the study were as follows: In the segmented market 1, women in forties and housewives with a lowly educated person purchased for the most part from 10 A.M. to 5 P.M and the study named them as the average home shopping purchaser group. In the segmented market 2, men in twenties and students with a highly educated person often purchased with a small amount of money at 6, 7, 12 P.M and the study named them as the high-satisfaction frequent group purchasing a few goods. In the segmented market 3, professional men in forties with a highly educated person rarely purchased with a lot of amount of money from 8 P.M to 11 P.M and the study named them as low-satisfaction rare group purchasing not a few goods. Marketing strategies and discussion were suggested in detail.

• Journal of Digital Convergence
• /
• v.11 no.9
• /
• pp.55-65
• /
• 2013

The purpose of this study was to investigate correlations between entrepreneurial intention and entrepreneurship and entrepreneurial success. For that purpose, the study carried out a survey among the students of Graduate School of Business & Entrepreneurship, the students of small business start-up education, and general people and reviewed the previous studies and literature with a focus on the characteristics and capabilities of entrepreneurial intention. The investigator identified the characteristic factors of entrepreneurial intention including entrepreneurial intention, entrepreneurship, entrepreneurial success, education, and mentor, set a research model and hypothesis for their relations with entrepreneurial success, and empirically analyzed and tested them. The empirical analysis results were summarized as follows: first, entrepreneurial methods and abilities of the variables of entrepreneurial intention turned out to have significant impacts on entrepreneurial success. Second, corporation determination, external factor, and internal factor of the variables of entrepreneurship turned out to have significant effects on entrepreneurial success. Third, re-education after success turned out to be the most influential entrepreneurial education factor on entrepreneurial success, which points to a need for constant education after setting up a business. Fourth, practical entrepreneurial mentors had the greatest influences on entrepreneurial success, being followed by successful entrepreneurial mentors and socially successful mentors in the order. One can have a vision to see a further future of his or her business and promote its growth by forming relationships with those who have more knowledge about the line of business and richer experiences in the field. The subjects overwhelmingly had a positive personality, which suggests that those who try to start a business tend to be positive and considerate of others.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.15 no.2
• /
• pp.235-251
• /
• 2020

This study aimed to confirm the quality of exhibitions and the effectiveness of government's policy support for small and medium-sized companies seeking to help companies expand overseas marketing and improve their performance through participation in overseas exhibitions. For the purpose of empirical analysis, the survey was conducted directly to exhibitors of companies participating in overseas exhibitions with the support of government for three years from 2016 to 2018. As a result, the quality characteristics of overseas exhibitions had a significant positive influence on re-participation intention, and the influence was the most important in organizer's capacity, followed by exhibition reputation and exhibition environment. In addition, quality characteristics had a significant effect on participation performance, and participation performance had a partial mediating effect on re-participation intention. The government's policy support had a significant moderating effect between participation performance and re-participation intention, and the conditional indirect effect (adjusted mediating effect) on the effect of quality characteristics on re-participation intention through participation performance. This study has an academic significance in confirming the mediating effect of participation performance and the moderating effect of government policy support.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.15 no.2
• /
• pp.137-151
• /
• 2020

Since the global financial crisis, the employment rate of young people worldwide has been declining, and the situation in Korea has worsened. Recently, the employment rate has been restored to a small extent due to the implementation of various government policies on youth employment and entrepreneurship, and many young entrepreneurs have been produced. In addition, various types of youth farming enterprises are emerging as the system for encouraging home farmers and villagers and fostering young farmers has been expanded. In this regard, this study examines the influence of CEO's personal characteristics and government's support policies on corporate performance in starting and managing youth rural enterprises. The purpose of this study was to analyze the effect on the performance of rural enterprises. Through this study, it will be able to know what are the important factors for young people to achieve results in starting a rural enterprise. The results of this study suggest three implications. The first is that the personal characteristics of the CEO are important for the performance of youth start-up rural enterprises. Second, in support policy, educational support affects performance, but funding policy does not have a significant effect. Third, since ICT's environmental characteristics do not affect the CEO's personal characteristics and support policies and corporate performance, it is more important to find ways to utilize them directly in the field than to develop ICT's environmental characteristics.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.15 no.2
• /
• pp.171-181
• /
• 2020

As expanding marketing channels via social media, a small number of ordinary people have played a role in the information disseminator on social media. Therefore, this study aims to propose efficient social media marketing operation strategies by analyzing the influence relationship from various prospective on beauty channel social media marketing This study examined how beauty channel social media experience affects satisfaction and purchase intend. The components of social media experience were divided into entertainment, interaction, trendiness, usefulness for analysis. Social media experience was confirmed as a factor having significant effect on satisfaction and purchase intend. As a result, the social media experience had a significant effect on the satisfaction and purchase intend and the influence relationship of social media experience on each component was found to be entertainment, usefulness. Also, the expertise of beauty influencers had a significant influence on satisfaction and purchase intend. It is expected that the study results would be available as important data for beauty influencer-based marketing. This study attempted to search for a marketing stratege plan for efficient consumer management and derive and suggest practical implications.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.12 no.4
• /
• pp.61-72
• /
• 2017

Although small and medium-size enterprises are facing the significant trends in the Fourth Industrial Revolution and Open Innovation which are increasingly in need, the subjects of absorptive capacity and entrepreneurship has not been studied sufficiently in order to enhance the competitiveness of SMEs' products and cope with the current trend. The purpose of this study is to investigate the effects of absorptive capacity of SMEs on product competitiveness and the moderating role of CEO's entrepreneurship between the absorptive capacity and the product competitiveness. The data were collected from 313 employees of 22 SMEs in the Seoul metropolitan area, Kyunggi-do and Chung-cheong province, and analyzed using hierarchical regression analysis. As a result of the hypothesis test, both the absorptive capacity of SMEs and CEO's entrepreneurship had a positive effect on the product competitiveness. In addition, also found out the innovativeness and the proactivness out of the three entrepreneurship had the moderate roles between the potential absorptive capacity out of the absorptive capacity and the product competitiveness. On the other hand, the risk-taking out of the three entrepreneurship had the moderate roles between the realized absorptive capacity out of the two absorptive capacity and the product competitiveness. These results suggest that open innovation and technological entrepreneurship are needed to help SMEs learn external resources and information to create performance. After discussing this conclusions and implications of the study, the direction for future study was presented.