• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.3 no.1
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• pp.1-28
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• 2008

In this research, an empirical analysis was performed to determine the correlation between management performance and Empirical Research on the R&D investment for domestic venture businesses in each industry. Specifically, an empirical analysis for each industry was attempted not only to clarify the general hypothesis on the relationship between management performance and R&D investment for venture businesses but also to demonstrate that differences exist for each industry. Empirical analysis was conducted for eight industries with respect to the $2002{\sim}2006$ panel data extracted as investigative results from the "Investigation Report on Science and Technology R&D Activities" published by the Ministry of Science and Technology. Industrial classification was limited to the middle-level classification (2-digit) in the Korea Standard Industry Code (KSIC) owing to the limited number of panels. Although this research only verified the overall positive effect of R&D activities and funds for existing research on corporate value or productivity and management performance, it was able to document the difference for each individual industry and each business size unlike existing research. Furthermore, the reliability of the research results was enhanced by targeting companies that have been continuously conducting R&D and management activities using consistent 5-year panel data in the analysis. Again, this was something that existing research did not have. Finally, through the use of recent data from 2002 after the IMF economic crisis up to 2006 in the empirical analysis, this research proposed the problems due to the prevailing circumstances at the time of entering the advanced nation stage based on an empirical analysis; the prevailing problems during the pursuit of advanced nation status before the IMF crisis broke out were not tackled. The key empirical analysis yielded several results. First, capital and size of the labor force have a positive correlation with the management performance for the entire company or the venture business. This applies to all eight industries as the subjects of the analysis. Second, although the number of years since a company has been established can have positive or negative correlation with management performance for the entire company or venture business in specific industries, a definite overall trend cannot be identified. Third, R&D investment can be said to have an overall positive effect on corporate management performance. Fourth, the size of the research staff cannot be said to be a factor unilaterally affecting the management performance of the entire company or the venture business. Fifth, the number of years a research institute has been in operation, which was assumed to have a positive effect on the management performance of a company because of the accumulated R&D know-how -- definitely acts as a positive factor contributing to the management performance of a company.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.5
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• pp.151-168
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• 2022

Nowadays companies are required to achieve social goals beyond maximizing shareholder profits. Accordingly, it is important to pursue both the economic and social goals of a company at the same time. Thus the importance of hybrid organizations is increasing theoretically and practically. In particular, since hybrid organizations essentially have the complexity of pursuing both economic and social purposes, the institutional demands of various stakeholders surrounding hybrid organizations are also conflicting. Several previous studies have considered how hybrid organizations respond to these conflicting institutional demands, but most studies are limited to studying at a specific point in time. As a result, there was a limit to analyzing the dynamics in response to conflicting institutional demands as the hybrid organization expanded its business. This study predicted that the hybrid organization would take selective coupling with conflicting institutional demands and that the process of responding to institutional demands would change according to the organization's growth. In this study, we had a case study about Noul and Enuma, social ventures that operate relatively advanced business models with outstanding results in innovation and technology. As a result, social ventures show a selective coupling for conflicting institutional demands, and the selective coupling process changes as their business model are advanced. Specifically, in the early stages of the business, it appears to respond to economic and social demands at the same time with a single business model. When the business is advanced, two or more business models are operated, some of which respond to economic needs and some of which respond to social needs. In the early stages of business, social ventures respond to economic and social demands with a single business model to gain legitimacy and survive in the institutional demands. But when they enter the business growth period, they try to separate business models which respond to economic and social values because they pursue sustainable growth and challenge large-scale missions. Overall, this study attempted to contribute to an in-depth understanding of hybrid organizations by identifying that the method of responding to conflicting institutional demands varies depending on the growth process of social ventures.

• Journal of Korea Technology Innovation Society
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• v.19 no.1
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• pp.105-136
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• 2016

This paper analyzed the qualitative evaluation indicators of the SYSTEM sector of the LINC program, which aimed at strengthening ability of regional universities through the activities of industry-academia cooperation (IAC). By using interview data and the program reports of universities, this research explored the problems of the indicators and suggested improvement measures which could lead to performance creativity. According to research results, in university system reform for activating IAC, some improvements are required as follows: limiting excessive expansion of IAC-friendly faculty evaluation; and evaluating soft aspects in the reform of academic affairs. In relation to strengthening of ability of the IAC organization, the indicators need to be amended as follows: enhancing the role of channel of IAC Foundation; strengthening the function of planning team of the IAC Foundation; and inducing development of own model of universities for IAC. As regards expansion of IAC infrastructure, it is necessary to enlarge the manpower who can develop programs of the support center in the foundation and to secure of operators for effective operation of joint-using equipments. Therefore, the indicators are required to be upgraded, considering these improvement direction.

• Journal of Korea Technology Innovation Society
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• v.17 no.1
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• pp.195-218
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• 2014

Recently, due to the global economic crisis and prolongation of slow growth period, many countries have proposed creative economy as an important policy for economic growth. Korea has also progressed important policies such as development of creative industries, start-up activation and employment creation through creative economy as a key policy. However, each country has a different definition of creative economy and detailed field to promote, and there is a lack of research on creative economy of industrial complexes and activation plans of creative industries. This study derived the priority order and importance of development plans to develop into creative clusters through AHP analysis base on Gumi National Industrial Complex that have had a significant role in the national economy since the 1970s. As a result, the creativity enhancing factor was the highest priority, followed by creative infrastructure and network. These results mean that it is necessary to promote creativity in order national industrial complexes to continuously lead national economy and for this purpose it needs to prioritize the development of creative human resources and to extend the creative R&D. This study can be provided to government and local policy makers and innovation agencies as basis data and practical policy guide to establish a successful creative cluster by deriving the priority order in reflection of both hardware and software policies such as infrastructure to develop national industrial complex into creative cluster.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.14 no.2
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• pp.151-163
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• 2019

In recent years, as the population of ear and aged villages has increased, the problem of conflict between rural residents and urban-to-rural migrants has been widespread. For successful rural community, such conflict resolution is more important than anything else. However, if we look at previous studies. It is true that there are many studies that focus on people who are not rural residents or urban-to-rural migrants. This study was conducted to find out the difference of strategies for conflict resolution between rural residents and urban-to-rural migrants. This study derives the factors of conflict based on the contents of previous studies, To see the difference, five strategies were used from the response strategies that were used in the 'Computer Prisoner's Dilemma Contest' held by Axelrod (2009). I would like to know what kind of strategies of rural residents and urban-to-rural migrants. All analyzes were done using SPSS 22.0 for Windows, and the results of each conflict resolution analysis showed that the indigenous conflicts were low All. Among the causes of conflict, the highest level of conflict was caused by the 'rural residents who did not understand urban culture'. The strategy is the most used, followed by tit for tat Strategy, and all-c strategy, in that order. However, It is not uncommon for employers to use a work-type strategy, and it can be seen that the strategy changes depending on the cause. As can be seen from the above results, The conflict resolution strategies are almost similar strategies. It can be seen that conflict resolution strategy is used differently according to personality. The purpose of this study is to investigate the differences in conflicts in the rural areas. In particular, it is meaningful to examine the choice of solution strategies based on game theory through reviewing prior research and eliciting actual conflict factors in the field. Successful rural settlement can be achieved not through stakeholder competition but through mutual cooperation by gaining cooperation to the other side. Mutual cooperation is more profitable than betrayal in various conflict situations. The secret to maintaining and communicating smoothly is not to use the other person to fill his or her selfish interests, but to reject it for profit, but to draw cooperation from the other party.

• Information Systems Review
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• v.18 no.1
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• pp.157-175
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• 2016

Under the market economy of capitalism, several limitations reveal the inequity and redistribution problem of wealth, inefficiency of over-manufacturing and over-consumption, pollution of the natural environment, and the constraint of human liberty and dignity. The new challenge of symbiotic relationships that encourage individual corporations coincides with the need to practice social responsibility and share values to overcome these limitations. Social economy and the social enterprises that simultaneously pursue the making of corporate private profits and the realization of social values have been suggested and disseminated as alternative social value creators. Furthermore, the concept of a sharing economy, which refers to the sharing of things rather than owning them, is growing traction as a new paradigm of capitalism. However, these efforts of social enterprises have fallen short against the conflicts between private profit and social values. This study deals with the case of a start-up social corporation, "Purun Bike Sharing Inc.," which is based on a regional sharing economy business model about bike rental services that use Information and Communication Technology (ICT). This corporation pursues harmonic management to achieve a balance between private profit and social value. Its corporate mission is to achieve sharing, coexistence, and contribution for public welfare. This mission is a possible idea for use in the local community network as a core key for sustainable social enterprises. The model can also be an alternative approach to overcome the structural friction in the social corporation. This study considers the case of Purun Bike Sharing as a sustainable way to practice a sharing economy business model based on a regional cooperation network, which can be combined with social value, and to apply ICT to a sharing economy system. It also examines the definition and current state of social enterprises and the sharing economy, and the cases of the sharing economy business model for the review of prior research.

• 대한공업교육학회지
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• v.38 no.2
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• pp.1-26
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• 2013

This study inquired following research questions by a narrative research method : What was the job of an engineer in mechanical design field? How did he fulfill his job-related learning in his workplace? What were the context and the characteristic of the job-related learning in the workplace? And some implications of the job-related learning on engineering education were discussed. We identified that the research participant's career as a mechanical engineer has developed through three stages. At first, he engaged on conceptual design of a semi-conductor test machine through self-initiated learning from basic to whole system of the machine. At second stage, he leaded a design group for the concrete design of a ball type semi-conductor test machine. In this stage he learned the meaning of cooperation and cooperative learning. At third stage, he initiated to found an entrepreneur company that was specified to design a semi-conductor test machine. He became CEO of the company. He learned the R & D policy making through contacts with global company, visiting exhibition in abroad. Eventually his main task as a mechanical engineer was the problem solving in the process of machine design. He had experienced and learned through his works : project management, independent fulfilling of tasks, functional analysis and reverse engineering, conceptualizing and test, cohesive cooperation, dialogue and discussion, mediation of conflict, human relationship, leadership. The implication of the narrative analysis on engineering education is, proposed, to give the students more chances to experience and to learn such activities.

• Journal of the Korean association of regional geographers
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• v.15 no.5
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• pp.554-571
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• 2009

This paper explores the triple helix innovation system in Food Valley in the Netherlands which is considered one of the most innovative food clusters in the world. The triple helix approach has been so far little tackled in the literature on innovation system and cluster. However, tills approach can be a useful tool for understanding the dynamic characters and knowledge transfer mechanism of industrial cluster. On the basis of an in-depth case study, we argue that Food Valley has evolved through four circles of growth in the triple helix innovation system. From the mid-2000s onward, it is seen that Food Valley has been on the stabilized circle in the triple helix system of innovation. Centered upon Wageningen UR, local universities and research centers play a pivotal role in building the triple helix innovation system. To cope with radical changes in markets and technology since the late 1980s, local firms have made a great deal of effort to reinforce the university-industry partnership. On the other hand, government agencies have played a critical role for establishing institutional milieu that facilitate university-industry partnerships and local knowledge transfer and spillover.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.16 no.4
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• pp.115-133
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• 2021

This study examines the concept and related technologies of the 4th industrial revolution that has been mixed so far and examines the socio-economic changes and influences resulting from it, and the cases of responding to the 4th industrial revolution in major countries. Based on this, by deriving SWOT factors and calculating the importance of each factor for Korean venture companies to prepare for the forth industrial revolution, it was intended to help the government and policymakers in suggesting directions for establishing related policies. Furthermore, the purpose of this study was to suggest a direction for securing global competitiveness to Korean venture entrepreneurs and to help with basic and systematic analysis for further academic in-depth research. For this study, a total of 21 items derived through extensive literature research and data research to understand what are the necessary competency factors for internal and external environmental changes in order for Korean venture companies to have global competitiveness in the era of the 4th Industrial Revolution. After reviewing SWOT factors by three expert groups and confirming them through Delphi survey, the importance of each item was analyzed by using AHP, a systematic decision-making technique. As a result of the analysis, it was shown that Strength(48%), Opportunity(25%), Threat(16%), Weakness(11%) were considered important in order. In terms of sub-items, 'quick and flexible commercialization capability', 'platform/big data/non-face-to-face service activation', and 'ICT infrastructure and it's utilization' were shown to be of the comparatively high importance. On the other hand, in the lower three items, 'macro-economic stability and social infrastructure', 'difficulty in entering overseas markets due to global protectionism', and 'absolutely inferior in foreign investment' were found to have low priority. As a result of the correlation verification by item to see differences in opinions by industry, academia, and policy expert groups, there was no significant difference of opinion, as industry and academic experts showed a high correlation and industry experts and policy experts showed a moderate correlation. The correlation between the academic and policy experts was not statistically significant (p<0.01), so it was analyzed that there was a difference of opinion on importance. This was due to the fact that policy experts highly valued 'quick and flexible commercialization', which are strengths, and 'excellent educational system and high-quality manpower' and 'creation of new markets' which are opportunity items, while academic experts placed great importance on 'support part of government policy', which are strengths. The implication of this study is that in order for Korean venture companies to secure competitiveness in the field of the 4th industrial revolution, it is necessary to have a policy that preferentially supports the relevant items of strengths and opportunity factors. The difference in the details of strength factors and opportunity factors, which shows a high level of variability, suggests that it is necessary to actively review it and reflect it in the policy.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.16 no.2
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• pp.51-78
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• 2021

Followed by 'start-up', the theme of 'scale-up' has been considered as an important agenda in both corporate and policy spheres. In particular, although it is a term commonly used in industry and policy fields, even a conceptual definition has not been achieved from the academic perspective. "Corporate Growth" in the academic aspect and "Business Growth" in the practical management field have different understandings (Achtenhagen et al., 2010). Previous research on corporate growth has not departed from Penrose(1959)'s "Firm as a bundle of resources" and "the role of managers". Based on the theory and background of economics, existing research has mainly examined factors that contribute to firms' growth and their growth patterns. Comparatively, we lack knowledge on the firms' growth with a focus on 'annual revenue growth rate'. In the early stage of the firms, they tend to exhibit a high growth rate as it started with a lower level of annual revenue. However, when the firms reach annual revenue of more than 100 billion KRW, a threshold to be classified as a 'middle-standing enterprise' by Korean standards, they are unlikely to reach a high level of revenue growth rate. In our study, we used our sample of 333 companies (6.7% out of 5,000 'fastest-growing' companies) which reached 15% of the compound annual growth rate in the last three years with more than USD 100 million. It shows that sustaining 'high-growth' above a certain firm size is difficult. The study focuses on firms with annual revenue of more than $100 billion (approximately 120 billion KRW) from the 'Inc. 2020 fast-growing companies 5,000' list. The companies have been categorized into 1) Fast-growing companies (revenue CAGR 15%~40% between 2016 and 2019), 2) Hyper-growing companies (40%~99.9%), and 3) Super-growing (100% or more) with in-depth analysis of each group's characteristics. Also, the relationship between the revenue growth rate, individual company's strategy choice (market orientation, generic strategy, growth strategy, pioneer strategy), industry/market environment, and firm age is investigated with a quantitative approach. Through conducting the study, it aims to provide a reference to the 'Hyper-Growing Model' that combines the paths and factors of growth strategies. For policymakers, our study intends to provide a reference to which factors or environmental variables should be considered for 'optimal effective combinations' to promote firms' growth.