• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.16 no.6
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• pp.197-211
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• 2021

In the service industry the types are diversifying and the scale of service companies is greatly improving. Such a phenomenon is caused by economic growth and technological development diversifying consumer needs creating demand for new services maturing the service industry and intensifying competition among companies in the form of global competition. It can be said that this is because it is necessary to improve competitiveness by utilizing the economy of scale. Research is needed on the impact of entrepreneurship on various outcome variables in order for service organization managers to respond quickly to diverse and rapidly changing environments and achieve organizational outcomes and corporate goals of management outcomes. The purpose of this study was to empirically analyze the relationship in which the entrepreneurial spirit of a manager influences the relationship between customer orientation, which is an organizational result, customer satisfaction, and financial result, which is a management result. In order to verify such research, the questionnaire was composed of one business owner questionnaire, two employee questionnaires, and two customer questionnaires. The questionnaire was distributed to a total of 400 companies, and the questionnaires of 340 companies were collected. Of these, 303 companies, excluding the questionnaires of 37 companies with many dishonest or missing values, were used for hypothesis testing. The results of this study can be summarized as follows. First, entrepreneurship had a positive (+) effect on customer orientation, supporting the hypothesis. Second, customer orientation showed a positive (+) effect on customer satisfaction, supporting the hypothesis. Third, customer satisfaction showed a positive (+) effect on financial outcomes, supporting the hypothesis. Fourth, it was found that entrepreneurship influences customer satisfaction through customer orientation, and customer satisfaction affects financial outcomes. It turns out that customer orientation between entrepreneurship and customer satisfaction is completely mediated, and customer satisfaction is completely mediated by customer orientation and financial outcomes. The relationship between entrepreneurship and management improved employee behavior and attitudes, which is an individual outcome, and this change was found to improve customer satisfaction, which is an organizational outcome. It makes frequent contact with customers in the process of servicing them. Employee roles are important at service contacts and influence service purchases. Employees facing customers through service contacts act as a decisive factor in maintaining a continuous relationship with customers. Within a beauty service company, it is necessary to create a customer-oriented environment among workers. It suggests that customer-oriented companies and employees can anticipate their desires and provide products or services of superior value to achieve greater customer satisfaction and a competitive advantage. In addition, it was clarified that customer satisfaction has an aspect relationship with financial management, which is a management result. Therefore, it is suggested that the entrepreneurial spirit is an important factor for the management of a beauty service company to secure competitiveness and improve results.

• Journal of Technology Innovation
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• v.13 no.2
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• pp.71-95
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• 2005

This study aims to explore and understand the role of return migrants in the regional innovation system of a transition economy (China) by analyzing the activities of returning entrepreneurs in two emerging high-tech industries in Shanghai. The empirical analysis is based on in-depth interviews with founders of high-tech companies and experts in Shanghai. The results of the analysis reveal that return migrants are a significant factor for the Shanghai innovation system, which is presently in a transition from a former manufacturing site to a metropolitan region comprising a range of industries (including high-tech) and services. First of all, return migrants are important for the Shanghai RIS in terms of numbers. Second, they engage in activities in the medium range of high-tech which reflects prevailing weaknesses of the framework conditions for innovation in Shanghai. However, due to their international background, returning entrepreneurs are able to overcome these weaknesses, and thus contribute to the development of high-tech industries in Shanghai and to a reduction of the technological lock-in.

• Journal of Technology Innovation
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• v.6 no.2
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• pp.101-121
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• 1998

Recent entrepreneurship studies emphasize the importance of entrepreneurial activities of entrepreneurs. This study focuses entrepreneurial behaviors, especially entrepreneurial networking activities of Korean high-tech ventures. Networking activities can utilize external resources which are critical to success, with less resource commitment. This study examines the relationship between characteristics of entrepreneurial networking and performance, and analyses influencing factors of entrepreneurial networking activities. Based on the data from 55 new high-tech ventures in Korea, hypotheses that the characteristics of entrepreneurial networking are related to the performance of new high-tech ventures are tested using regression analysis and t-test. Major findings of this study are as follows: (1) entrepreneurial networking are related to the performance of new high-tech ventures, (2) significant differences are found in the characteristics of entrepreneurial networking between high- and low-performance firms, (3) characteristics of entrepreneurs and firm' technological capabilities are related to the degree of entrepreneurial networking activities. Finally, managerial and policy implications of the study are presented and future research directions are also suggested.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.9 no.5
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• pp.173-180
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• 2014

In this research, we aim to analyze how different external knowledge search strategies of small and medium enterprises affect technological innovation. In particular, since there has been little comparison between Korean small and medium firms, we investigated the differences of the two groups by employing the "Korean Innovation Survey 2010." As a result, it was found that "external search breadth", which refers to expanding the spectrum of external knowledge search due to lack of resources and capabilities inside small firms, spurred technological innovation. On the other hand, "external search depth", which implies seeking a long-term and close relationship with the subjects that provide outside knowledge for medium firms, catalyzed technological innovation. These results emphasize that we need to separately analyze technological innovation of small and medium firms, which was, in most previous studies, viewed as one group, i.e. SMEs. In addition, the results can be, from the perspective of a firm's growth, interpreted as follows. That is, it is more effective to formulate a "diversity" pursuing strategy in the "small firm" stage where little time has passed since its establishment, whilst it is more useful to apply a "focus" strategy on sophisticated knowledge in the "medium firm" stage where a firm has grown to some extent.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.13 no.4
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• pp.99-116
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• 2018

The purpose of this study is to suggest the integrated entrepreneurial competency models that reflect critical entrepreneurial competencies that entrepreneurs should have at different stages, thereby enhancing the success rate of ventures. To accomplish the purpose, this study developed the hypotheses about the positive effects of entrepreneurial competencies on business performance, and the moderating effect of learning competency to strengthen the relationship between entrepreneurial competencies and business performance. The results of this study are as follows. First, the technological functional competency of entrepreneurial teams, the resource utilization and business planning competency of entrepreneurs in the early stage of business development were found to significantly affect both non-financial and technological performance. The opportunity recognition competency has a significantly positive effect on non-financial performance. In addition, it is analyzed that learning competency significantly moderated the relationship between entrepreneurial competencies(technological functional, resource utilization) and non-financial performance. The moderating effect of learning competency between business planning competency and technological performance was also found to be significant. Second, leadership and resource acquisition competency of entrepreneurs in the late stage of ventures have significantly positive effects on both non-financial and technological performance. The strategic competency has a significantly positive effect on non-financial performance. It was also found that the moderating effect of learning competency between strategic competency and non-financial performance was significant. Finally, the results show that both non-financial and technical performance of NTBVs are significant determinants of financial performance.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.8 no.3
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• pp.1-16
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• 2013

The purpose of study is to promote the development of medium size enterprises(MSE) by analyzing the causal relationship between technology acquisition strategy and firms' performance. In this study, we use the number of intellectual property, sales growth rates, and return on sales as proxy variables of technological and financial performances. This study includes internal R&D investment, cooperative R&D with academy, foreign technologies transferred, and their interaction effects as the independent variables. The results of study are as follows. Frist, R&D Investment, Foreign Technologies Transferred and their interaction effects are positively influence on technological performance. Second, Cooperative R&D with academy and the interaction effects of R&D Investment and Cooperative R&D with academy are negative influence on technological performance. On the other hand, all of the main independent variables and the interaction effects have non-significant relationships with financial performances. These results imply that technological innovation efforts of MSEs do not effectively increase their financial performances. Furthermore, technological supports of government and academy on MSEs' innovation do not effectively increase their innovation outputs. Finally, this study discussed its theoretical and practical implications and the limitations of the study.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.16 no.6
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• pp.157-175
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• 2021

This study categorized 3,214 companies out of the tech firms supported by the Korea Technology Finance Corporation's "technology guarantee scheme" through technology assessment from 2017 to 2019 into Fourth Industrial Revolution-related companies and general SMEs. The impact of the management characteristics of these 1,752 tech firms on the determination of high-growth firms was then empirically analyzed. This study used the OECD(2007) definition to define a "high-growth firm" as "an enterprise with average revenue growth greater than 20% per annum, over a two-year period." As the two sample groups showed non-normal distribution, this study conducted the Mann-Whitney U test, a nonparametric test, to analyze the mean differences and bivariate logistic regression in which the normality assumption is less stringent. The independent variables include fundamental characteristics; a regional dummy; a technological level dummy; and the capabilities of company representatives, human capital, and technological innovation. The corresponding sub-variables are representatives' level of education and experience in the same industry, full-time workers, research personnel, the extent of intellectual property rights, investment in research and development, firm age, total assets, region_metropolitan area, region_central region, technological level_high technology, and technological level_medium technology. As a result, the research hypothesis about representatives' level of experience in the same industry, full-time workers, total assets, and technological level_high technology was supported for the Fourth Industrial Revolution-related companies. For the general SMEs, the research hypothesis about representatives' level of experience in the same industry, research personnel, total assets, and region_metropolitan area was supported.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.8 no.2
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• pp.187-197
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• 2013

Public research institutes in Korea have been criticized for attaching great importance to developing new technologies than actively moving them to the industry. Despite the various effort to enhance the technology transfer and commercialization by Korean government and government-funded research institutes, the gap between R&D outcome and real world application does not seem to be reduced. In this context,this study investigates a successful case of TT by a research institute. The aim of this study is to draw the factors of successful and TT which may be applied to other government funded research institute. The finding suggest marketability of technology, commercialization-oriented attitude, technology complementary assets and technological absorption capacity, matching of goals between the partenars and finally the timely utilization of public support program of commercialization are important factors.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.9 no.5
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• pp.157-171
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• 2014

This study has empirically analyzed the effect of government technology development supports on the performance of SME's (Small-and-Medium-Sized Enterprises). To analyze the effects of government technology development supports on the performance of SME's, this paper collected data from 271 Korean SMEs and tested hypothesis on the key questions. The result shows that government technology development supports had a meaningful positive effect on the performance of SMEs in terms of innovation. It was also understood that the closer the ties were with large enterprises, the higher the R&D personnel ratio was. Furthermore, when the SME was a certified venture, the government technology development supports had less influence on the SME's technological innovation. On the other hand, SME's technological innovation performance in relation to the government supports showed an improvement when the business environment of SME's was hostile. This study offers theoretical and practical implications, as it more accurately analyses the effect of government technology development supports on the performance of SME's, for which data were collected and analyzed for the same companies two separate times. Last of all, the limitation of this study is discussed in terms of the sample selection, data collection method, variables measurement method, etc.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.15 no.5
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• pp.145-155
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• 2020

In this study, the purpose of the study is to derive the relationship between factors affecting the establishment of start-up companies, technical innovation performance, and technology commercialization, and to confirm the effects of start-up factors and technology commercialization on the technological innovation performance based on the analysis. For this research, a survey was conducted on employees aged 20 or older who were employed in large national enterprises or medium and small-sized enterprises, etc. and the results of the empirical analysis were as follows. Firstly, the factors influencing start-ups were found to have a significant impact on the technology commercialization(manufacturing capacity, producing capacity). Secondly, technology commercialization had a significant impact on the technological innovation performance(business performance, customer performance), and thirdly, technology commercialization had a partial mediating effect in the relationship between start-up factors and technical performance. This study confirmed that the factors of start-up, technology commercialization, and technological innovation performance have statistically significant impact relations, and further research on start-up factors and technology commercialization is necessary for the technological innovation and creation of companies.