• Journal of the Korea Academia-Industrial cooperation Society
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• v.17 no.11
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• pp.135-147
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• 2016

Equity-based crowdfunding combines virtual technologies with traditional investing principles. Equity-based crowdfunding is a financing method for startups and small businesses to raise small amounts of capital from a "crowd" of investors. Small businesses can raise capital, advertise product or service, and receive feedback from crowds of investors in exchange for ownership equity in their business. This study examined the operational performance of equity-based crowdfunding in Korea. Data were collected from 125 success and failure equity-based crowdfunding of 75 firms. Results were as follows: First, success firms had a clear vision than failure firms in raising equity-based crowdfunding. Second, success firms had success experiences than failure firms in raising equity-based crowdfunding. Third, success firms had patents to technologies or products that are practical and that customers need. Fourth, success firms had three or more year long-term objectives than failure firms in raising equity-based crowdfunding. Finally, implications of the results were discussed.

• Journal of Korea Society of Digital Industry and Information Management
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• v.10 no.2
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• pp.229-240
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• 2014

While the digital environment continues to diffuse rapidly, SNS has been playing important roles in business growth. This study analyzes businesses that have used social network services (SNS) in order to more successfully manage companies by utilizing SNS and to suggest the proper steps In order to accomplish this, major domestic and foreign business cases were selected in order to investigate factors of success and failure for each of them. The analysis results show that the companies that utilized SNS successfully understood the characteristics of SNS and constantly tried creative marketing. On the other hand, enterprises that failed to use SNS properly showed low understanding of SNS and abnormal ways of marketing. Therefore, this research suggests the following conclusion. First of all, sufficient knowledge and understanding of the characteristics of SNS are necessary in order to properly utilize SNS. Next, it is imperative to use SNS not only as a tool to communicate with customers, but also to understand the generations that use SNS. Finally, it would be best to implement a more open wireless internet mobile environment for more active use of SNS.

• East Asian Journal of Business Economics (EAJBE)
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• v.5 no.4
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• pp.39-49
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• 2017

Purpose - This study is to propose a creative idea for constant business growth and development by examining characteristics of business outcomes by phase, which are "growth" and "erosion and stagnation," respectively. Research design, data, methodology - It is necessary to identify an occurrence of crisis and its diffusion with a dynamic model in order to identify a success and failure of businesses in an organic way, not on a binary structure. The static perspective is to understand a crisis as a simply one-time event or as a linear causation. Thus, it has a limited understanding of the overall situation and has limits to investigating a foundational cause and developing long-term countermeasures. On the contrary, the dynamic perspective is to understand the crisis as circulation process of the overall system. Thus, it divides elements of the crisis as external and internal ones to understand it as the causal relationship of each element. Results - During the growth period of Burger King, the company promoted its brand very successfully with aggressive and creative marketing activities. However, due to the founder's disposal of management rights and the following changes in the management, the company had no choice but to lose focus on its business philosophy and brand management, and eventually it had to face the big crisis (resonance) which was delisting from the stock market because of the external threat; well-being trend. However, Burger King resumed lifting on the stock exchange by making great efforts to clearly identify the current issues and seek solutions. Under the spirit of "perseverance" and its slogan "Have it your way" the company is now going head to head with McDonald's in the North American region and emerging countries. Conclusions - Then, what is the most crucial factor in the success and failure of businesses? Answers may vary, however, as learned from the case study of Burger King, corporations should inspect the present and focus on developing a long-term strategy for the future and actively fulfill the actions. McDonald's may not be able to innovate by itself in the future as it may become routinized to the growth. There will be chances of winning if we change conditions of individuals or organizations to an organic system in terms of being creative. There is a hopeful message here that an individual or small business may have more advantages in the era of the idea and innovation.

• Proceedings of the Korean Institute of Information and Commucation Sciences Conference
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• 2015.05a
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• pp.204-206
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• 2015

Nowadays, many small businesses have experienced the failure of business or hardship. In this point, specific and integrated information for startup business should be required to decrease the rate of failure and to increase the rate of success. This study is to suggest the integration and big data of various data which various public institutions have separately. For this purpose, it is to classify the data types in constructing big-data for start-up business and to suggest a model of analysis in information system for supporting startup businesses.

• Journal of the Korea Institute of Information and Communication Engineering
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• v.19 no.6
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• pp.1341-1346
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• 2015

Nowadays, many small businesses have experienced the failure of business or hardship. In this point, specific and integrated information for startup business should be required to decrease the rate of failure and to increase the rate of success. This study is to suggest the integration of various data which various public institutions have separately. For this purpose, it is to classify the data types in constructing big-data for start-up business and to suggest a way of data integration, analysis method, and web or services of information system for supporting startup businesses.

• Asia pacific journal of information systems
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• v.13 no.3
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• pp.41-62
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• 2003

This study investigated the current status and characteristics of strategic alliances attempted by domestic internet businesses. Specifically, this study surveyed competitive environmental characteristics of partner companies involved, alliance period, types of partner companies, motives of alliances, types of alliances, success and failure factors and satisfaction toward the alliances. Major findings were: first, alliances between portal companies and content producers; portal companies and internet services; e-commercial sites and internet services were the most frequent partnerships engaged. Second, the most important motive for and type of the strategic alliance were: 'the commercialization and marketing of new product' and 'joint distribution and marketing agreement' respectively. Third, the most important factor for the successful alliance was 'a close examination of partners' core business value and competence'; and the factor most hindering the successful alliance was 'a discrepancy on capabilities of partners' core personnel. Finally types of internet business were significantly related to perceived satisfaction toward strategic alliance.

• Journal of the Korean Society of Clothing and Textiles
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• v.47 no.6
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• pp.1096-1112
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• 2023

Many entrepreneurs who launched online fashion shopping malls faced failure compared to those who achieved success. Recognizing the importance of research that reflects reality, this study explores entrepreneurs' experiences during the failure process of online fashion shopping malls. Two studies utilized YouTube videos documenting such online fashion shopping malls' failure. Study 1 employed text mining techniques, including high-frequency analysis and topic modeling, while Study 2 used a qualitative research method, specifically grounded theory. Study 1 identified the prominent experiences of operating online fashion shopping malls, while Study 2 provided a holistic perspective on the failure processes. The integrated findings from both studies highlight that entrepreneurs' passion for fashion motivates them to establish online fashion shopping malls, yet they encounter numerous challenges during the operational process. Insufficient business preparation and operational capabilities contribute to their failure to achieve financial goals. Despite efforts to boost sales and profit, entrepreneurs often close their businesses due to inadequate funds and waning motivation. The outcomes of this study can inform us about the operational challenges faced by online fashion shopping malls and offer valuable insights for developing new strategies to sustain and improve them.

• Korean Management Science Review
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• v.28 no.3
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• pp.125-141
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• 2011

We have recently witnessed many of global companies did not successfully adapt themselves to local markets, and finally exited the markets experiencing failures. The purpose of this study is to suggest practical glocalization strategies for global e-service companies to run their respective businesses in local markets with success. Glocalization is a terminology blending globalization and localization, meaning that global companies adapt themselves to local cultures, environment, languages, laws and regulations so as to survive and prosper in those markets while maintaining high quality of standards and processes they originally have for global competitive edge. Examining success stories as well as failure ones of global e-service companies having entered Asian markets, we provide marketing mix strategy for successful glocalization, and suggest some guidelines for prospective e-service companies wishing to enter local markets with different cultures and languages to fit themselves to new environments.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.5
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• pp.727-739
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• 2021

Over the past decades, the Jordanian government has made great efforts to help poor women start small businesses by providing microcredit and facilitating financial services. Although in Jordan almost hundreds of thousands of women have the ability to contribute more fully to their economy, they are reluctant to do so. Women's participation in economic activities in 2016 was only 13.2%, while the unemployment rate for Jordanian women was 24.1%. The decline in women's participation in small business management has gradually become an important issue following the trial of more than 13,000 Jordanian women for non-payment of their micro-loans. This study aims to identify the factors that hinder Jordanian women from achieving job stability. In this qualitative study, a semi-structured interview method with sixteen open-ended questions was used to collect relevant data. A purposeful sampling method is also used to select participants. To analyze the data, this study used NVivo 11 software as a method. Using System Theory, this study showed that women's failure depends on three factors: women entrepreneurs, the environment around women entrepreneurs, and micro-financial institutions. Findings of this study suggest that strengthen women's entrepreneurship sustainability and minimize the risk of failure should be done through integrated strategies include these three domains.

• Journal of Service Research and Studies
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• v.6 no.2
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• pp.23-35
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• 2016

Firms should seek greater profits and corporate growth through new businesses. New businesses contribute realizing creative economy that creates good jobs, and expanding the company by securing new markets and creating new profits and growth. However, new business is risky management decision-making to have a high failure rate because it involves the adaptation of new business environment and the burden of new investments, including the uncertainty of success in business. Therefore, innovation strategies play important roles for the new business entry, using product innovation, process innovation, business model innovation, disruptive innovation, and strategic innovation, etc. and company will get huge economic results by pushing them into successful business. It is essential that innovation strategy and IT development strategy along with business strategy of a firm are linked, and their strategic alignment is considered to be a critical success factor for new business success. Hyundai Heavy Industries(HHI) pursued marine engine business for the development of precision machinery industry and shipbuilding industry of Korea, and the company recognized the importance of new business strategy, innovation strategy, and IT strategy inter-linked, and pushed strategic alignment boldly. As a result, HHI won the competition in European and Japanese engine manufacturers and climbed into the world's largest engine manufacturer. This study suggests investigating and analyzing a case that HHI succeeded in marine engine business expansion using strategic innovation strategy as a way of the introduction of CNC machine tools and the development of HEMAPT system.