DOI QR코드

DOI QR Code

A Study on the Effects of Entrepreneurship and Innovation Activities of Venture Enterprises on the Increase Firms' Revenue

벤처기업의 기업가정신과 혁신활동이 기업 매출 신장에 미치는 영향에 관한 연구

  • Received : 2017.10.23
  • Accepted : 2017.12.20
  • Published : 2017.12.28

Abstract

In order to analyze how the entrepreneurship affects the commercialization performance in relation to R&D input factors, technological innovation and technology in the course of technology commercialization process. Korean manufacturing venture companies has been surveyed. The structural equation model showed technology commercialization mechanism driven by entrepreneurship. Innovativeness is one of the most important factors in the success of venture firms. Technology commercialization was dependent on innovation rather than the input of research and development resources. Technological innovation shows mediating effects in the influence of entrepreneurship on commercialization performance, but technology capability has relatively small effect. Commercialization process of new product development and product improvement was different. The government needs to actively support R&D strategies and commercialization infrastructure in order to promote innovation, assist R&D workforce and enhance product commercialization in venture companies.

Keywords

Entrepreneurship;Innovation activity;R&D Workforce & Investment;Commercialization performance;New & Existing product development

References

  1. Korea Chamber of Commerce and Industry Press Releases. 2013.. Policy Tasks for Fostering Venture Business in the Age of Creation Economy.
  2. Seo, Y.D. and Cho, H.J. 2017. An empirical study on the new product development in the organization. Journal of the Korean Convergence Society. 8(3): 205-214.
  3. Kim J.D. 1999. A comparative study on the success factors of new product development in the small and large firms. Journal of Korean production and operations management society. 25(4):11-26.
  4. H. B. Yang J. B. Park J. H. Kim. 2008. Cultivating the Entrepreneurship in Korea Based on the Analysis of Survey on Entrepreneurial Phenomena. Korea Institute for Industrial Economics & Trade. Vol 420.
  5. Gartner, William B. 1985. A Conceptual Framework for Describing the Phenomenon of New Venture Creation, Academy of Management Review, Vol.10, No.4, pp: 696-706. https://doi.org/10.5465/amr.1985.4279094
  6. Keh, Hean Tat, Maw D. Foo, & Boon C. Lim 2002. Opportunity Evaluation under Risky Conditions; The Cognitive Process of Entrepreneurs, Entrepreneurship Theory and Practice, Vol.27, pp: 125-148. https://doi.org/10.1111/1540-8520.00003
  7. Peters, Thomas & Robert Waterman. 1982. In Search of Excellence, Haper and Row Publishers Inc, New York
  8. Lumpkin, G. T. & Gregory G. Dess 1996. Clarifying the Entrepreneurial Orientation Construct and Linking it to Performance, Academy of Management Review, Vol.21. No.1, pp: 135-172. https://doi.org/10.5465/amr.1996.9602161568
  9. Kickul, J. and L. K. Gundry. 2002. Prospecting for Strategic Advantage; The Proactive Entrepreneurial Personality and Small Firm Innovation. Journal of Small Business Management, Vol.40, No.2, pp: 85-97. https://doi.org/10.1111/1540-627X.00042
  10. Scotchmer S (2006) Innovation and Incentives. cambridge, MA: MIT Press.
  11. Rosenberg N (2004) Innovation and Economic Growth. Paris: OECD.
  12. Leiponen, A. 2000. Competencies, innovation and profitability of firm, Economics of Innovation and New Technology, Vol.9, pp: 1-24. https://doi.org/10.1080/10438590000000001
  13. Schroeder, Roger G., Gary D. Scudder, & Dawn R. Elm. 1989. Innovation in manufacturing. Journal of Operations Management 8.1: 1-15. https://doi.org/10.1016/S0272-6963(89)80002-6
  14. Miller, D. & Friesen, P.H. (1982). Innovation in Conservative and Entrepreneurial Firms: Two Models of Strategic Momentum. Strategic Management Journal, Vol. 3 No. 1 1p - 25p https://doi.org/10.1002/smj.4250030102
  15. Lin, B. W., Lee, Y. K., & Hung, S. H. 2006. R&D intensity and commercialization orientation effect on financialperformance, Journal of Business Research, Vol.59, pp: 679-685. https://doi.org/10.1016/j.jbusres.2006.01.002
  16. Souitaris, V. 2002. Firm-specific competencies determining technological innovation: A survey in Greece. R&D Management, 32(1): 61-77. https://doi.org/10.1111/1467-9310.00239
  17. T. U. Yoo D. W. Yang. 2009. An Empirical Study on the Relationship Among Technology Innovation Capability, Technology Performance and Economic Performance. The Journal of Small Business Innovation, Vol 12 No.4, pp. 69-93.
  18. Romijn H and Albaladejo M. 2002. Determinants of Innovation Capability in Small Electronics and Software Fims in Southeast England, Research Policy, 31(7): 1053-1067. https://doi.org/10.1016/S0048-7333(01)00176-7
  19. J. S. Shim. 2008. The Research Results Diffusion Model for Technology Commercialization in Government-funded Research Institute. Pusan University graduate school. Doctroal thesis.
  20. Burgelman, R. A., Christensen, C. M. and S. C. Wheelwright 2008. Strategic Management of Technology and Innovation, McGraw-Hill, New York.
  21. Cordero, R. 1991. Managing for speed to avoid product obsolescence: a survey of techniques. Australian Journal of Management 8(4): 17-45.
  22. Alegre, Joaquín, & Ricardo Chiva. 2013. Linking entrepreneurial orientation and firm performance: the role of organizational learning capability and innovation performance. Journal of Small Business Management 51.4: 491-507. https://doi.org/10.1111/jsbm.12005
  23. Zhou, Kevin Z., Chi Kin Yim and David K. Tse. 2005. The effects of strategic orientations on technology and market-based breakthrough innovations, Journal of Marketing, Vol. 69, No. 2, pp: 42-60. https://doi.org/10.1509/jmkg.69.2.42.60756
  24. H. D. Yoon R. B. Seo. 2011. A Study of the Core Factors Affecting the Performance of Technology Management of Inno-Biz SMEs. 'Journal of Technology Innovation', Vol19, No1, pp. 111-144.
  25. Zhou, Ying-Wu, Yu-Fei Wu, & Yanchun Yun. 2010. Analytical modeling of the bond-slip relationship at FRP-concrete interfaces for adhesively-bonded joints. Composites Part B: Engineering 41.6: 423-433. https://doi.org/10.1016/j.compositesb.2010.06.004
  26. J. G. Shin J. G. Cho. 2011. R&D The Relationship between Innovation Capability of R&D and the Firm's Performance :Comparing Regional Strategy Industry with Non-Regional Strategy Industry in Daegu . Management Information Systems Review, Vol 30, No.2, pp. 211-235.
  27. Rauch, A., Wiklund, J., Lumpkin, G. T., & Frese, M. 2009. Entrepreneurial orientation and business performance: An assessment of past research and suggestions for the future. Entrepreneurship Theory and Practice, 33(3): 761-787. https://doi.org/10.1111/j.1540-6520.2009.00308.x
  28. Calantone, Anthony Di Bonetto. 1997. What makes firms more innovative? A look at organizational and environmental factors, Journal of Business and Industrial Marketing, Volume 12, Issue 6 pp400-416 https://doi.org/10.1108/08858629710190259
  29. Miller, D. 1983. The Correlates of Entrepreneurship in Three Types of Fims, Management Science, Vol.29, No.7, pp: 770-791. https://doi.org/10.1287/mnsc.29.7.770
  30. Madhoushi, Mehrdad. 2011. Entrepreneurial orientation and innovation performance: The mediating role of knowledge management. Asian Journal of Business Management 3.4: 310-316.
  31. Wang, C. H., I. Y., Lu, and C. B. Chen(2008), "Evaluating Firm Technological Innovation Capability Under Uncertainty," Technovation, Vol.28, No.6, pp. 349-363. https://doi.org/10.1016/j.technovation.2007.10.007
  32. Kang, I.A., Kim, Y.S., and Yoon, H.j. 2017. Fostering entrepreneurship by make education: a case study in an higher education. Journal of the Korean Convergence Society. 8(7): 253-264.
  33. J. Y. Kim. 2012. Industrial Cluster Characteristics, R&D Capacity, Technological Innovation Performance in SMEs, and the Moderating Effects of Location Types. Keimyong University graduate school. Doctroal thesis.
  34. D. H, Jeong. 2012. The Effects of Technology Orientation on Product Quality, Technological Capability, Innovation Speed and NP Performance: Moderating Effect of Order of Market Entry . Journal of Marketing Studies, Vol20 No3, pp. 129-153.
  35. Jung, G.S, Cho, J.G., Shin, J.W., and Kim, T.S. 2016. A study on the factors affecting innovation capability for R&D speed on small & medium manufacturing enterprises in Gumi. Journal of the Korean Convergence Society. 7(6): 249-258. https://doi.org/10.15207/JKCS.2016.7.6.249
  36. Lee, S.B., 2017. An analysis on the critical startup success factors in small-sized venture business. Asia-Pacific Journal of Business Venturing and Entrepreneurship. 12(3): 53-63. https://doi.org/10.16972/apjbve.12.3.201706.53
  37. Jo, K.D, & Kim, J.W. 2014. Effect of technology commercialization factors on small and medium enterprises performance. Journal of Digital Convergence. 12(9): 83-92. https://doi.org/10.14400/JDC.2014.12.9.83