• 기술혁신연구
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• 제6권2호
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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.

• 기술혁신학회지
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• 제8권2호
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• pp.809-831
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• 2005

This paper explores the difference between domestic new ventures(DNV) and international new ventures (INV). New ventures pursue business opportunities in their target markets armed with experienced founding team, distinctive competitive strategies, and different entry time at foreign market. As a result, INVs were founded by larger number of founding team and more experienced in international business. Also INVs enter earlier global market and pursue business opportunities than DNVs. in In terms of competitive strategy, INVs highlight continuous quality improvement and diverse customers compared to DNVs focused on intellectual property rights. INVs get higher profitabilities in financial performance. Finally, this paper suggests some managerial implications for new venture to explore business opportunities in the global markets.

• 기술경영경제학회:학술대회논문집
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• 기술경영경제학회 1998년도 제13회 하계학술발표회 논문집
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• pp.23-37
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• 1998

Recent entrepreneurship researches emphasize the importance of entrepreneurial behaviors, entrepreurs activities. This study focused entrepreneurial behaviors, especially entrepreneurial networking for using external resources which are critical to success. This study examines the relationship between characteristics of entrepreneurial networking and performance using data from 55 new high-tech ventures in Korea. We tested hypotheses that the characteristics of entrepreneurial networking are related to the performance of new high-tech ventures 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) some factors are related to the entrepreneurial networking. Finally, some managerial and policy implications are presented and future research directions are suggested.

• The Journal of Asian Finance, Economics and Business
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• 제7권11호
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• pp.737-746
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• 2020

A new business venture faces intense competition in a dynamic environment. To survive, new business ventures and established companies both need to generate creativity and significant new ventures to be highly competitive and have high levels of performance. In this study, we examined new business ventures that determined their competitiveness and performance generated from entrepreneurial creativity and mediated by ambidextrous innovation. This research used survey data collected from 143 Indonesian's new business shipping agencies, which was collected using an online survey and analyzed through structural equation modeling. The results showed that entrepreneurial creativity in new business ventures is positively associated with competitive advantage but not significant to create a competitive advantage. In contrast, entrepreneurial creativity is positively associated with firm performance. This result indicates that efforts to generate entrepreneurial creativity are not sufficient to create a competitive advantage despite having a significant influence on firm performance. However, entrepreneurial creativity is significantly and positively associated with firm performance and competitive advantage when mediated by ambidextrous innovation. The findings of this study suggest that the competitive advantage of a new business venture in facing intense competition in a dynamic environment condition can be overcome by generating strategic action in the form of entrepreneurial creativity and ambidextrous innovation.

• 기술혁신연구
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• 제4권1호
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• pp.1-26
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• 1996

Traditional studies of new venture performance have focused on the characteristics of entrepreneurs and have shown conflicting results on the relationship between the characteristics and performance of new ventures. Recently, some researchers have broadened their search to include aspects of the industry and the strategy of new ventures. The purposes of this study are to identify wtrategic archetypes of new ventures based on the taxonomic approach and to explain the differences in new venture characteristics and performance among strategic archetypes. To find the strategic archetypes, 114 new venture CEOs from various industries were asked to describe their ventures' competitive strategy through 19 questionnaire items on competitive methods. Using factor analysis and subsequent cluster analysis, four archetypes were identified such as : versatile type, technology-driven type, market-oriented type, and cost reduction type. The results imply that there exist different types of venture strategy even among new technology-based venture firms in Korea, and show the differences in performance among strategic archetypes: market-oriented type and versatile type are better than cost reduction type in terms of growth rate and profitability. Because the venture strategy in identified as a major determinant of the venture performance in this study, the choice of venture strategy suitable for firm's industrial characteristics and internal resource bases becomes a very strategic decision for firm's sustained growth. Further studies are needed to strengthen some methodological limitations of the study.

• ETRI Journal
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• 제22권4호
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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.

• 한국경영과학회:학술대회논문집
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• 한국경영과학회 2001년도 추계학술대회 논문집
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• pp.233-236
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• 2001

This study explores on the static and dynamic growth patterns of high-tech ventures in Korea. We developed an integrative framework with target market (local vs. global), product/market maturity (existing vs. emerging), and technological capability (follower vs. pioneer). We also identified seven new ventures strategies as follows: i) reactive imitation, ii) proactive localization, iii) import substitution, iv) creative imitation, v) early market-entry, vi) global niche, and vii) global innovation. With five successful Korean new ventures, we found different competitive behaviors and performance among new venture strategic types. This study also observed two different growth patterns: growth through strategic replication and growth through strategic change. It depends on whether they are pursuing similar strategy over time or different strategy within for growth. In addition, we found that creative imitation plays a stepping-stone role in two-step internationalization processes. Although this study is exploratory and needs more empirical studies, it can provide new ventures with meaningful guidelines for growth and internationalization with a dynamic perspective.

• 산업공학
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• 제17권spc호
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• pp.11-19
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• 2004

The purpose of this study is to identify the determinants of new venture performance according to years of operation in the view of integrated research framework. We propose the integrated new ventures performance model which is composed of entrepreneur, organization/resources, industrial environment, strategy/foundation process and availability of supporting systems as corresponding variables to new ventures performance. The determinants of new venture performance according to years of operation are identified through the multi-variate statistical analysis such as moderating regression analysis with the data gathered from 110 executives of venture companies. For internal variables, entrepreneur's managerial ability and technical expertise and employee's ability affect venture's performance increasingly as years of operation increases but resource procurement ability affects decreasingly. Related to external variables, years of operation plays positive moderating role on market size growth and supporting system availability, but negative role on government venture policy for venture performances. Though this study has limitation of small sample, limited questionnaire and performance measure, it has managerial contribution of identifying determinants of new venture performance according to years of operation.

• 한국전자거래학회지
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• 제13권4호
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• pp.145-159
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• 2008

본 연구는 국내 벤처기업의 경영성과를 결정하는 요인들을 통합된 연구 틀 안에서 규명해 보고자 하는 목적으로 실시되었다. 이를 위하여 창업자/팀, 조직/자원, 전략/창업과정, 산업 환경, 지원시스템을 경영성과 영향요인으로 정의하였으며 영역별 측정변수를 독립변수로, 경영성과를 종속변수로 하는 벤처 경영성과 통합 모형을 구축하고, 우수벤처와 열등벤처의 경영성과 영향요인을 실증적으로 검증하였다. 분석 결과, 우수기업의 경우 창업자 자신의 산업전문능력과 시장규모의 확대가 경영성과 에 더 민감한 요인으로 작용하고 있으며, 열등기업의 경우 자원조달능력 및 경영 전략 역량 이 민감한 요인으로 나타났다. 또한 우수기업과 열등기업을 나누는 핵심요인은 창업자의 능력 및 정부정책의 일치성으로 나타났다. 본 연구 결과는 표본수의 부족, 측정 척도의 미비 등 실증 연구의 한계를 가지고 있지만 통합된 연구 틀 안에서 우수 벤처기업의 핵심 성공 요인을 제시하는데 그 의미가 있다.

• 한국지능정보시스템학회:학술대회논문집
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• 한국지능정보시스템학회 1999년도 추계학술대회-지능형 정보기술과 미래조직 Information Technology and Future Organization
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• pp.355-361
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• 1999

An application of case-based reasoning is proposed to build an influence diagram for identifying successful new ventures. The decision to invest in new ventures in characterized by incomplete information and uncertainty, where some measures of firm performance are quantitative, while some others are substituted by qualitative indicators. Influence diagrams are used as a model for representing investment decision problems based on incomplete and uncertain information from a variety of sources. The building of influence diagrams needs much time and efforts and the resulting model such as a decision model is applicable to only one specific problem. However, some prior knowledge from the experience to build decision model can be utilized to resolve other similar decision problems. The basic idea of case-based reasoning is that humans reuse the problem solving experience to solve a new decision. In this paper, we suggest a case-based reasoning approach to build an influence diagram for the class of investment decision problems. This is composed of a retrieval procedure and an adaptation procedure. The retrieval procedure use two suggested measures, the fitting ratio and the garbage ratio. An adaptation procedure is based on a decision-analytic knowledge and decision participants knowledge. Each step of procedure is explained step by step, and it is applied to the investment decision problem in new ventures.