• Journal of Korean Society of Industrial and Systems Engineering
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• v.39 no.4
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• pp.26-39
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• 2016

Korea's main manufacturing industries, which have led its economy for the past three decades, are faced with a serious downturn and loss of competitive advantages due to the current economic depression, China's rise, and the drop of oil prices. Korean business firms must adopt the paradigm shift in their value strategies, along with a government-led industrial restructuring in order to gain sustainable competitive advantages. Business firms allocate their limited resources between value creation and value appropriation, however, what effect does strategic emphasis on value creation versus value appropriation have on a business firm's financial performance? This paper empirically addresses this issue by examining the effect of shifts in strategic emphasis on stock return. Furthermore, this study examines appropriate choices of strategic emphasis to gain differential financial performance. The data set used in this regression analysis comes from the KISLINE database of NICE Information Service. The variables that form the basis of this analysis are stock return, ROA, and Strategic Emphasis [(advertising expenditures-R&D expenditures)/assets]. The interactive effect with situational factors regarding the firm and the type of technological environment in which the firm is operating was also analyzed. Our results show that investors acknowledge a shift of strategic emphasis as a sign of stock valuation. In comparison to US, Korean business firms have weak value creation capabilities in high-technology industries, and weak value appropriation capabilities in low-technology industries. This proves Korean firms are fast followers in the global market. Our findings suggest that Korean firms have to adopt a balanced value strategy, nurturing value creation and developing value appropriation for overcoming the current economic downturn and becoming a first mover in the dawn of "Industry 4.0."

• Knowledge Management Research
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• v.22 no.2
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• pp.289-300
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• 2021

Proptech, which has applied information technology to the real estate market, is leading real estate transaction innovation by presenting various value creation models. This study categorizes and understands values that are created and shared in proptech-based businesses, and develops evaluation data that reflects the relative importance of individual value areas. To this end, the dimension of value creation of proptech was hierarchically constructed, and the degree of relative value creation of the sub-industries of the proptech industry was evaluated. In order to grasp the relative importance of the proposed indicators, AHP analysis was conducted for industry and academic experts. In the first stage, intangible values, relational values, and advanced values were presented. It was derived as weights between indicators through two-way comparison. This study aims to improve and develop the value-creation capability of the entire Korean proptech ecosystem in the future by evaluating the value-created competence of each sector of the proptech industry.

• The Journal of the Korea Contents Association
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• v.18 no.4
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• pp.369-379
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• 2018

The purpose of this study is to examine the impact of social enterprise's shared value creation on corporate performance and to develop policy measures to enhance competitiveness of social enterprises. The main results and implications are as follows. First, according to the general characteristics of social enterprises, the difference between shared value creation and organizational performance was not statistically significant. In other words, although the social enterprise has various organizational characteristics, it does not differ from the shared value creation or the organizational performance that it creates. The rapid increase of social enterprises led to a rapid increase in various types of social enterprises, but there is no difference between shared value creation and organizational performance. Second, the results of analyzing the impact of shared value creation on the organizational performance of social enterprises revealed that social performance was statistically significant influenced by re-recognition of product market and regional cluster among sub-factors of shared value creation. Among the sub-factors of social enterprise's economic performance, the re-recognition of the product market had a statistically significant effect on the overall organizational performance of social enterprises. Among the sub-factors of shared value creation. In the future, it will be necessary to make effort to improve corporate performance by introducing the concept of shared value creation for social enterprise and making policy efforts to activate it.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.12
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• pp.927-939
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• 2020

This study aims at investigating the effects of internal control effectiveness on business survival of food businesses in Thailand through the mediators of productivity improvement and value creation. In this study, 155 food businesses in Thailand are the samples of the study. The results show that internal control effectiveness has a significant influence on productivity improvement and business survival. Productivity improvement critically affects value creation and business survival while value creation is an important determinant of business survival. However, internal control effectiveness has no relationship with value creation. Also, productivity improvement explicitly mediates the internal control effectiveness-business survival relationships. In summary, internal control effectiveness can enhance firms' sustainable competitive advantage, superior performance and long-term survival. Firms need to focus on internal control effectiveness through investing their assets and resources and utilizing their abilities, competencies and capabilities in order to continuously develop and improve their appropriate concepts and characteristics in an organization. Better internal control effectiveness definitely leads to more long-term survival. To generalize the research results, future research needs to collect data from other businesses and industries. Increased response rate of the study is important for future research to verify and confirm the research results.

• Knowledge Management Research
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• v.22 no.1
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• pp.105-120
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• 2021

Recently, there has been a dramatic change in real estate markets with the development of information technology. The word, Proptech, is defined as the real estate transaction innovation motivated by various types of information technology including artificial intelligence, sensing technology and big data. The objective of this study is to provide a value-creation framework for Proptech business based on the understanding of how and what types of values are created and shared, which gives organization to develop strategies and business models. And a new classification scheme of Proptech business is also suggested based on the recognition of created values along the development of Proptech business. Then, the proposed matrix is applied to derive the business value such as intangibility value, relational value and enhancement value with the case analysis on the each components of Proptech business.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.15 no.7
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• pp.4191-4197
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• 2014

Value co-creation is an important business strategy these days in both the business-to-business (B2B) and business-to-consumer (B2C) markets. The aim of this study was to identify specialized resources and competences for value co-creation in the relationship network within a high-tech B2B market. A case of Taiwan Semiconductor Manufacturing Company Limited (TSMC) with customers and partners was chosen as the study case. Based on the observations, contents analysis of the secondary data and unstructured interviews with former TSMC employees, 4 critical resource types (financial, knowledge, efficiency and intellectual resource) and 6 competence types (relational, collaboration, strategic, innovation, managing and service capability), were performed as the principal factors for value co-creation in the relationship network. A research framework that can analyze the value co-creation phenomena in the relationship network was established.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.15 no.4
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• pp.1923-1931
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• 2014

A value creation is understood as important business strategy these days in both academics and industry. But this phenomenon is not fully understood based on systematized framework. In this paper, we summarized value research trend based on exploratory research and inductive reasoning by exploring both international and domestic journals. And we built a research framework that can analyze value creation between supplier and customer. Value research prior to 2004 is primarily divided into values of goods or services and relationship values. After 2004, service-dominant (SD) logic has been outlined. There are other research trends to see the relationship value in terms of relationship benefits and relationship in the network or supply chain. 4 critical resource types (financial resource, knowledge resource, efficiency resource, and intellectual resource) and 5 competence types (relational capability, collaboration capability, innovation capability, managing capability) are constructed as principal factors for value creation from inductive reasoning based upon a resource-based view (RBV) and a competence-based view (CBV). The research framework was built based on 4 resources and 4 competences.

• Journal of Information Technology Services
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• v.5 no.3
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• pp.137-150
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• 2006

The authors map some of the current Business Models in the Massively Multiplayer Online Player scenario. These maps represent Value Creation Systems by resorting to Value Net constructs and notations, and are offered here as a proof of concept and utility. The authors claim that these mappings can enable readers, managers and IT experts, to build new insights onto such Business Models and develop requirements for Information System infrastructure. When approaching the Value Creation System as a Value Net the goal is to think outside the conceptual box of Value Chains and understand how the different activities interact, by exposing the multiplicity of value types and flows. In doing this study the authors are attempting to synthesize a new Business Model proposal that could underlie the development of an infrastructure for the collaborative creation, distribution and exploration of online massively multiplayer games, beyond the traditional producer-consumer roles.

• Journal of Distribution Science
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• v.20 no.12
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• pp.59-69
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• 2022

Purpose: The purpose of this research is to identify and design a model for the integration between marketing and supply chain management (SCM) of technopreneurship-based souvenirs MSMEs to fulfil customer value creation. Research design, data and methodology: This research method uses the system development life cycle method. This study draws its insights and conclusions from a literature review in several fields followed by an interactive research approach that helps identify, validate, and implement a theoretical framework so that the modelling results can be adopted in applicative manner for souvenir MSMEs. Result: Implementing the "G-ASPOO-L" supply chain management integration model based on technopreneruship to fulfil value creation in the 5.0 society era created three perspectives: an inter-functional perspective, a process perspective, and an integrated business concept perspective. The supply chain management involves enterprise integration, strategic customer integration, strategic supplier integration, and marketing strategy integration. Conclusion: The proposed model framework leads to managerial problems of supply chain management strategy, which urgently requires an interaction approach that challenges the traditional view of demand creation and implementation of supply chain management to fulfil value creation. This research leverages existing knowledge and advances our understanding of the strategic integration issues companies face in digital-based competition.

• Journal of Information Processing Systems
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• v.7 no.3
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• pp.543-548
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• 2011

Information technology is changing the business value chain and business systems. This situation is due to the business value chain and the value creation factors in business. Technology companies and researchers are developing new businesses, but many companies and researchers cannot find successful ways to analyze and develop a business in a specific way. In this paper, first, the value creation motive in business is analyzed through a literature review. Second, business attributes are analyzed, while considering the value creation motive and the business factors in management. Finally, the business attributes of information technology are studied through a review of previous research papers on this topic.