• Journal of Venture Innovation
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• v.1 no.1
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• pp.1-14
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• 2018

The 4th Industrial Revolution is making a big change for our company like the tsunami. The CPS system, which is represented by the digital age, is based on the data accumulated in the physical domain and is making business that was not imagined in the past through digital technology. As a result, the business model of the 4th Industrial Revolution era is different from the previous one. In this study, we analyze the trends and the issues of business innovation theory research. Then, the business innovation model of the digital age was compared with the previous period. Based on this, we have searched for a business model suitable for the 4th Industrial Revolution era. The existing business models have many difficulties to explain the model of the digital era. Even though more empirical research should be supported, Michael Porter's diamond model is most suitable for four cases of business models by applying them. Type A sharing outcome with customer is a model that pay differently according to the basis of customer performance. Type B Value Chain Digitalization model provides products and services to customers with faster and lower cost by digitalizing products, services and SCM. Type C Digital Platform is the model that brings the biggest ripple effect. It is a model that can secure profitability by creating new market by creating the sharing economy based on digital platform. Finally, Type D Sharing Resources is a model for building a competitive advantage model by collaborating with partners in related industries. This is the most effective way to complement each other's core competencies and their core competencies. Even though numerous Unicorn companies have differentiated digital competitiveness with many digital technologies in their respective industries in the 4th Industrial Revolution era, there is a limit to the number of pieces to be listed. In future research, it is necessary to identify the business model of the digital age through more specific empirical analysis. In addition, since digital business models may be different in each industry, it is also necessary to conduct comparative analysis between industries

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.11 no.5
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• pp.29-43
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• 2016

The Lean Startup, a methodology for minimizing failure rate of startups, has been receiving attention since its publication in 2011. Although it has been receiving enormous attention as an effective methodology of startups' growth and the emergence of unicorn companies, it is undeniable that the theoretical research and cases on this topic have not been fully accumulated in Korea. Progress of management theory has been made when combining the theory and case studies. In this paper, we thus excavated the 'Cardoc' case, which has applied the lean startup concept to the entire process of service and customer development from the inception of its product design. The following are the findings of the case. First, for the successful application of lean startup, it is essential that all team members to understand the lean startup concept and are willing to apply it thoroughly to the business management. Second, the prompt launching of MVP(Minimum Viable Product) is more important than table discussion. Third, it is crucial to select the appropriate key metrics and analytic tools for effective learning. Fourth, startup must scale up promptly as soon as it verifies the product-market fit through the BML(Build-Measure-Learn) iteration cycle. Fifth, all new business expansion should be lean. Cardoc is currently testing new MVPs in order to move onto the next scale-up process with huge investments in newly added segments. This study is meaningful in that it elaborates the representative case of a Korean startup that has applied the lean startup strategy under the circumstance of insufficient discussion of Korean startup cases in comparison with growing attention both in concept development and case accumulation abroad. We hope that this paper can be a stepping stone for future relevant research on the implementation of lean startup methodology in Korea.