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Determinants and pattern of entrepreneurial failure

창업실패 요인 분류 및 실패 패턴 분석

  • 신중경 (아산나눔재단 기업가정신센터) ;
  • 하규수 (호서대학교 벤처전문대학원)
  • Received : 2013.05.01
  • Accepted : 2013.05.20
  • Published : 2013.05.31

Abstract

Research about business failure was focused on finding the reason of bankruptcy. This research tries to analyze reason and pattern of entrepreneurial failure. Based on 20 entrepreneurial failure cases, we figure out the reason of entrepreneurial failure, utilizing liability of newness and ERIS model. We find that start-up firms in Korea have liability of newness, such as lack of managerial capability, failure of R&D/commercialization, and difficulty of securing marketing channel. Also, we typologize 4 kind of entrepreneurial failure - Lack of preparation of business, failure of resource mobilization, absence of strategy, and failure of marketing.

Keywords

Entrepreneurial failure;Liability of Newness;ERIS;Business failure pattern;Population ecology