• 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.

• Korean Journal of Construction Engineering and Management
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• v.12 no.2
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• pp.32-40
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• 2011

The PPPs(public private partnerships) which was introduced in the later part of the 1990s has grown since 2005, with the beginning of BTL(Build Transfer Lease) type which retrieves the investment by receiving the lease payment from the government. As application areas and scale of the PPPs have been further expanded, it is expected the demand on special purpose facilities will be increased. We do know only successful foreign practices of the PPPs but have rarely consider the failure cases. Therefore, this paper derives implications by analyzing the case of National physical laboratory project which is known as a typical failure case of UK's PFI. We find that from the perspective of governance, the reasons leading to the failure of business are an insufficient of technical rationality, unsettled social relationships and inefficient risk management. Based on the case study, this study shows how to improve management system for special purpose PPPs business in Korea.

• Journal of Digital Convergence
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• v.19 no.8
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• pp.133-139
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• 2021

This research emphasized that the importance of Social Support and verify the effects of Social Support on Subjective Well-Being through Achievement Motivation. In addition, the mediating role of Achievement Motivation was clearly identified as a key variable that can lead to Subjective Well-Being. To achieve this purpose of research, an empirical analysis was conducted on Chinese students attending domestic universities. Through empirical analysis, it was found that Social Support improve Motivated Success and Motivated Avoid Failure. Furthermore, Motivated Success and Motivated Avoid Failure were found to increase the level of Subjective Well-Being. Furthermore, in the relationship between social support and subjective well-being, verification of individual mediating effects and multi-parameter effects of Motivated Success and Motivated Avoid Failure showed that only the motivation for success has a partial mediating effect. Finally, practical implications from this study were presented and future research directions were discussed.

• The Korean Journal of Franchise Management
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• v.11 no.3
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• pp.19-26
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• 2020

Purpose: The old axion to put the customers first (e.g., customers are king, customers are always right) has been taken for granted in the service sector. In addition, many companies in South Korea are providing customer-first education for employees at their contact points to strengthen their competitiveness. However, excessive increase in the psychological power of the customer can lead to a problem of abuse of power, called 'Gap-jil.' Despite these concerns, most companies hardly discard policies to give high priority to customers because of the assumption that it enhances customer satisfaction leading to organizational performance. However, in recent years, some franchise catering companies have posted warnings about the abuse of power by customers, and a movement to pursue a power-balancing between service providers and their customers is spreading. Research design, data, and methodology: This research is conducted to reconsider the principle of the customer-first perspective and to create a basis for arguments that can solve the problem of abuse of power, which is recognized as a serious social problem. In this research, we test and analyze the effect of customers' psychological power in the context of a restaurant on expectation for service and response to service failure. Result: The result of an experimental study shows that the effect of psychological power on customer satisfaction can be somewhat negative. Also, customers with high psychological power are more likely to have high service expectations. Especially high psychological power of customers causes a difference in the expectation level of human factors such as employee attitude, while the difference in expectations of non-human factors such as restaurant atmosphere was not statistically significant. In addition, when customers with high psychological power encounter service failure situation, they are more likely to feel disappointment and regret with a service provider. Meanwhile, the effect of psychological power on complaining behaviors are not significant. Conclusions: The findings of this research provide meaningful implications that the service providers should reconsider their existing corporate culture and management policies that put customers first. In addition, the result of this research is provided meaningful opportunities to review the management philosophy for the company's customers and the education philosophy for the employee education.

• Journal of Korean Society for Quality Management
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• v.51 no.4
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• pp.551-571
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• 2023

Purpose: The purpose of this study is to propose useful suggestions by analyzing the causal effect relationship between the failure rate of quality and the process variables in the C5ISR domain of the defense industry. Methods: The collected data through the in house Systems were analyzed using Big data analysis. Data analysis between quality data and A/S history data was conducted using the CRISP-DM(Cross-Industry Standard Process for Data Mining) analysis process. Results: The results of this study are as follows: After evaluating the performance of candidate models for the influence of inspection data and A/S history data, logistic regression was selected as the final model because it performed relatively well compared to the decision tree with an accuracy of 82%/67% and an AUC of 0.66/0.57. Based on this model, we estimated the coefficients using 'R', a data analysis tool, and found that a specific variable(continuous maximum discharge current time) had a statistically significant effect on the A/S quality failure rate and it was analysed that 82% of the failure rate could be predicted. Conclusion: As the first case of applying big data analysis to quality issues in the defense industry, this study confirms that it is possible to improve the market failure rates of defense products by focusing on the measured values of the main causes of failures derived through the big data analysis process, and identifies improvements, such as the number of data samples and data collection limitations, to be addressed in subsequent studies for a more reliable analysis model.

• Korea Journal of Hospital Management
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• v.16 no.1
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• pp.50-76
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• 2011

This study chiefly aims to examine the relations between customer's responsive behavior and service recovery satisfaction in medical service failure. Therefore, this paper deals with the effect of medical service failure severity perceived by customers on complaint behavior and service recovery expectation, the effect of complaint appealing behavior and service recovery expectation on perceived recovery and service recovery satisfaction, and the roles of service recovery(compensation) and recovery fairness as moderating variables. According to the result of this research, it was shown that service failure severity affects complaint behavior and service recovery expectation positively, and compliant behavior and service recovery expectation affects perceived recovery performance and service recovery satisfaction positively. Moreover, the moderating roles of service recovery(compensation) and recovery fairness indicated partially significant results and affected perceived recovery performance and service recovery satisfaction direct positively. The result of this study is expected to provide support when medical institutes establish service recovery strategies.

• Journal of Information Technology Applications and Management
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• v.29 no.6
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• pp.63-80
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• 2022

In this paper, we study structural changes and performance gains in condition-based maintenance process redesign when mobile IoT technology is embedded into urban railway rolling stock. We first develop condition-based maintenance To-Be process model in accordance with the IoT deployment scheme. Secondly, we draw upon theoretical framework of redesign process analysis to develop performance evaluation method suitable to predictive maintenance shift from As-Is ordinary maintenance practice. Subsequently, To-Be process performance evaluations are conducted adopting both the quantitative and qualitative method for time, cost, and dependability dimensions. The results ascertain the considerable benefits captured through detection abnormality prior to actual rolling stock failure occurrence, and details of performance improvements and enhancement of standardization level is revealed. The procedures and results presented in this paper offers useful insights in the fields of IoT economic analysis, condition based maintenance, and business process redesign.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.37 no.3
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• pp.75-81
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• 2014

To establish a new creative economy, the worldwide efforts have been made to wriggle out the old economic paradigm after the financial crisis of 2008. When it comes to the limitation of the viability. the start up companies have a high risk of failure. Therefore business incubator (BI) should carry out the role to improve their viability. As for the maximization of the effect on the business incubating services as move in companies, it is important for BI to increase the level of business incubating services by the systemic and scientific measurement. This study showed that the quality of the BI center services was measured by Kano analysis and the previous research as follows. First, BI quality attribute by Timko's customer satisfaction came out into the attractive qualities on the 14 items that amount to the 70% of 20 business incubating services items. It is desirable to perform the strategy for the satisfaction. Secondly, basic business incubating services were interpreted as the one-dimensional quality like incubating spaces, parking facilities, security facilities, industry technology development funds, and incubating managers. Finally, training and educational service was recognized as indifferent quality. Futhermore, the improvement and the limitation of this study as well as the interpretation of analysis results are also provided.

• Journal of the Korean Operations Research and Management Science Society
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• v.29 no.2
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• pp.1-18
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• 2004

Due to the change to the digital environments, the offer of services on the on-tine differs from one on the on-line. This paper Identifies what functions internet business organizations should fulfill to provide on-line services of good qualify and analyzes whether these functions lead effectively to the expected performance of Internet business firms. The components of service orientation in the Internet business organizations appear to be the servant leadership, customer treatment from the Internet service encounter, Internet service failure prevention and recovery, Internet service standards communication, Internet service training, and internet service rewards. Therefore, these determinants should be incorporated in the practices, Procedures, end routines of Internet business organizations in order to create and provide excellent Internet services. Furthermore, it is demonstrated that Internet service orientation has a significant effect on satisfaction by employees and customers, the value and quality of Internet service, and the firm's performance. This implies that the service orientation is an Important factor In the on-line service organizations and that the internet business can be successful when the service orientation is diffused throughout the firm's organizations. It is also shown that the important factors, which connect Internet service orientation and its performance, are the service quality, value of Internet service and customer satisfaction. That is, the service orientation can ultimately lead to the corporate performance when customers are satisfied after confirming the value and quality of Internet service by visiting the web site.

• International Commerce and Information Review
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• v.13 no.4
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• pp.81-100
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• 2011

With the smart device deployment, the interest in NFC technology is increasing. In this study, to be successful in NFC based business commercialization, we present main factors affecting success of NFC based e-commerce business model. To this end, we conduct NFC and business models, case study methodology through literature review. And then, we suggest representative NFC e-commerce business model cases, and practices that affect the success or failure of the six factors are derived Derived factors are based on inductive learning to apply the technology to create a case study table, and decision trees to bring it, NFC-based commerce business models need to be successful at the strategic implications are present.