• Asia-Pacific Journal of Business
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• v.14 no.4
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• pp.87-113
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• 2023

Purpose - Focusing on Haier, a successful corporate venture in China, we analyse the operating mechanism and success factors of corporate venture, and reveal the necessary factors for the successful implementation of corporate venture. Design/methodology/approach - This study is a single case study centred on Haier, a successful corporate venture in China. Findings - The operational process of Haier's corporate venture includes six key aspects: project selection, team building, resource allocation and support, project implementation, risk control measures, performance evaluation and rewards. In terms of success factors, the support of top management with leadership capability of value creation and sharing is very important for the success of corporate venture. Secondly, a multi reward mechanism can be introduced to motivate employees and improve performance. Thirdly, it is important to integrate corporate culture into the operating mechanism of an corporate venture. Fourthly, flexible operations that break down rigid organisational boundaries and transform the organisation into a more open platform for entrepreneurship can increase the likelihood of success. Finally, empowering employees with operational discretion can also have a positive impact on the success of an Corporate Venture. Research implications or Originality - This study contributes to theory and practice by analysing the success conditions of corporate venture, providing new understanding and drawing new perspectives, especially from the experience of Haier. The results suggest strategies and flexibility for successfully pursuing corporate venture, and provide important experience for international companies to help them gain competitive advantage in global competition. It also helps corporate leaders to promote new directions and innovations and improve their strategies to respond to dynamic environments.

• Journal of Korean Society for Quality Management
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• v.38 no.2
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• pp.212-224
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• 2010

After the introduction of Volume-based Waste Fee System for municipal wastes, the disposal of food wastes became an issue in society. As this reason, recycling food wastes facilities play an important role such as converting of food waste into animal feed or composting of food waste. Therefore, there is need of efficiency measurement of the facilities to reduce the inefficiency of factors. The purpose of this paper is to make a reasonable suggestion for the improvement of inefficient recycling food wastes facilities. This paper assesses the relative efficiency of recycling food wastes facilities by examining the relationship between inputs and outputs in 41 facilities using data envelopment analysis(DEA). The result shows that 4 facilities whose values of CCR efficiency are 1, and 10 facilities whose values of BCC efficiency are 1, RTS indicates IRS of 17 facilities and CRS of 6 facilities.

• ETRI Journal
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• v.22 no.4
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• pp.51-65
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• 2000

In this paper, we investigate on the determinants of new venture performance empirically and suggest a new venture performance model in the Korean Information and Telecommunications (IT) industry. A total of seven hypotheses is established and tested using a combination of factor analysis, cluster analysis, analysis of variance, and correlation analysis. Ninety-two sample ventures in the Korean IT industry were investigated and analyzed to test hypotheses. We found that new ventures performance depends on their environment, strategy, internal resources factors, and, most importantly, two-way and three-way interactions of these factors. These findings could be interpreted as supporting the general strategy theory that when environment and internal resources and fitted, performance might be maximized and, further, strategy is the means that make internal resources and environment fit. The venture performance model presented in this paper can explain how new ventures achieve their successes. The strategic implications to the venture firms are also discussed.

• Journal of the Korean Operations Research and Management Science Society
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• v.27 no.2
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• pp.123-152
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• 2002

This study establishes key success Predictors of internet venture enterprises in Korea. The five factors are derived from the relevant literature and clarified the concept of entrepreneurship, industrial level, enterprise strategy, organizational capability, and resource procurement by distinguishing between its components and determinants. Organizational performance indicators were derived from the previous studies classifying by financial performance indicator and non-financial performance indicator using by recent evaluation method as BSC (Balanced Scorecard). We then examine the impact of critical success factors on the internet venture performance. Hypotheses on five factors of internet venture were tested for 103 organizations. Results indicate that critical success factors may serve as key predictors. Organizational strategy and resource capability was found to be positively influenced on both financial performance indicator and non-financial performance indicator while entrepreneurship, industrial level and organizational capability positively affected only non-financial performance indicator.

• Proceedings of the Safety Management and Science Conference
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• 2002.11a
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• pp.285-294
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• 2002

The size of state in Korea is like Israel, this country's venture capital is ruled by government. This venture capital's character is below: the concentration on research of venturer affect positively at qualify of products, This paper lies with venture capital's risk character & performance. The results show that Korean venture capitals have lager unsystematic risk than systematic risk, which implies they specialize in specific business and/or regional areas instead of diversification. The Sharpe measure reveals that the performances of Korean venture capitals are very low relative to even the market portfolio(Kospi) and Kosdaq.

• Proceedings of the Safety Management and Science Conference
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• 2005.05a
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• pp.379-392
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• 2005

The size of state in Korea is like Israel, this country's venture capital is ruled by government. This venture capital's character is below: the concentration on research of venturer affect positively at quality of products. This paper lies with venture capital's risk character & performance. The results show that Korean venture capitals have lager unsystematic risk than systematic risk, which implies they specialize in specific business and/or regional areas instead of diversification. The Sharpe & Jensen measures reveal that the performances of Korean venture capitals are very low relative to even the market portfolio(Kospi) and Kosdaq Venture Index. Contrary to this, Venture firm's performance according to Entrepreneurship will cause to push up stock price.

• Proceedings of the Korean Operations and Management Science Society Conference
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• 2006.05a
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• pp.1784-1787
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• 2006

In the risk capital market there are various types of investors competing each other. In the past, venture capital firms depended on government subsidies to stay in business. In order to be survived in today's competitive market, they need to have had the necessary knowledge and organizational resources to build their own competitive advantages. We examine the relationship between organizational characteristics, human resources, and investment strategies of venture capital firms in Korea.

• Journal of Distribution Science
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• v.13 no.6
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• pp.71-78
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• 2015

Purpose - This study attempts to analyze whether or not there are characteristics among the top management of companies that promote corporate performance at venture companies. It investigates the characteristics of the human and social capital that are inherent in top management at a venture company and conducts an empirical analysis of hypotheses examining if these characteristics will affect utilization of the governmental R&D support system as well as affect the firm's initial success. Research design, data, and methodology - This study conducted theoretical and empirical research together to accomplish the goal of the study. The pilot study researched human capital and social capital as the independent variables; the governmental R&D support system as the parameter; and, the initial success as the dependent variable. The empirical study carried out research on the model, establishment of hypotheses, and the statistical treatment. A survey was conducted targeting top management of high-tech venture companies in Daedeok Innopolis; 500 questionnaires were distributed; and, 222 were collected. Results - The human and social capital inherent in top management at venture companies in the early stages of their existence become good evaluation data for those who are invested in similar resources. If top management includes strong human and social capital, access to external resources will be easier; these will have a positive influence on the selection of overnmental support systems; and, this proper support will also have a positive influence on the initial success of the venture company. The results revealed the following. First, it was found that when the educational level and functional background, (the top management human capital), are the output function, top management human capital had a significant influence on selection of governmental R&D support funds. Second, it was found that the internal social capital and external social capital, (the top management social capital), had a significant influence on selection of governmental R&D support tasks. Third, it was found that selection of the governmental R&D support tasks at the start of the venture company had a positive influence on the corporate financial performance such as sales, business profits, and the increase in workers; and, had a significant influence on nonfinancial performance such as market share, competitive position, product competitiveness, and the future product development. Conclusions - Selection of the governmental R&D support system is not recognized as part of the direct sales of a venture company in its early stages, but as it can reduce costs for technical development and helps significantly in creating test products and mass production, it has a positive influence on the company's financial performance and nonfinancial performance as a result. Therefore, companies should take great efforts to frequently be selected as a candidate in the governmental R&D support system, as it can help facilitate R&D that requires extensive funds. As a result, companies can expect effects such as job creation and patent applications and they can advance future product sales.

• Journal of Intelligence and Information Systems
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• v.7 no.2
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• pp.95-115
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• 2001

We propose classifying the venture firms into four types of knowledge management. For this purpose, we collected questionnaire data from 101 venture firms listed in KOSDAQ, and applied a unsupervised neural network algorithm SOM to obtain four clusters representing knowledge management types-High Tech Type, Organizational Knowledge Type, Information Technology Type, and Beginner Type. Based on the results, we conclude that the venture firms listed in KOSDAQ should first know its own knowledge management type, and then apply appropriate strategies to take advantage of the knowledge management impacts on the competitiveness.

• Proceedings of the Korean Society for Quality Management Conference
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• 2010.04a
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• pp.191-199
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• 2010

국내 소프트웨어 산업은 갈수록 치열해지는 시장의 무한 경쟁에서 글로벌 기업들의 공세에 그 경쟁력을 잃어 가고 있다. 소프트웨어 산업은 다른 산업과는 매우 다른 구조적인 특징을 갖고 있으며 국내 중소 벤처기업들이 제품의 경쟁력을 강화하기 위해서는 소프트웨어 품질의 향상을 위한 지속적인 투자와 노력이 필요하다. 기업은 단지 기능상의 화려한 소프트웨어의 개발이 아닌 고객 요구에 맞는 제품의 개발과 개발된 제품의 서비스 품질관리에 대한 중요성을 인식하고 더 많은 투자를 해야 한다. 이러한 배경에서 본 논문은 Kano 모델과 QFD를 통하여 중소벤처 소프트웨어 개발 업체의 서비스 품질 제고를 통한 경쟁력 향상 방안에 대해 연구하고자한다. 또한 본 연구를 기반으로 국내 패키지 소프트웨어 개발 기업이 국내외 시장에서 글로벌 제품에 대한 서비스 품질 경쟁력을 확보하고 이러한 분석된 데이터를 기반으로 소프트웨어의 개발 이전 단계부터 중소 벤처 기업이 충분한 경쟁력 확보를 할 수 있는 연구 모형을 설계하고자 한다.