• The Journal of the Korea Contents Association
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• v.18 no.12
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• pp.468-488
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• 2018

The maker movement is a phenomenon of society and culture where people who make necessary things come together and share knowledge and experience through creativity. However, as the maker movement has grown rapidly over the past decade, there is still a lack of consensus for how far they will be viewed as a maker movement. We need to look at how the maker movement has changed so far in order to find the direction of development of the maker movement. This study analyzes the media articles using text-based big data analysis methodology to understand how the issue of the maker movement has changed in general media. In particular, we apply Keyword Network Analysis and DTM(Dynamic Topic Model) to analyze changes of interest according to time. The Keyword Network Analysis derives major keywords at the word level in order to analyze the evolution of the maker movement, and DTM helps to identify changes in interest in different areas of the maker movement at three levels: word, topic, and document. As a result, we identified major topics such as start-ups, makerspaces, and maker education, and the major keywords have changed from 3D printer and enterprise to education.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.13 no.6
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• pp.1-14
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• 2018

As interest and consumption of luxury goods have become more popular, luxury goods market is growing rapidly. Consumers can acquire psychological satisfaction with material abundance by purchasing and using luxury goods. Also, from the view of corporations, luxury goods have price inelastic characteristics, so they can enjoy price premium and it is good to produce good performance. That is the reason why they should pay much attention to securing luxuriousness. This study examined the establishment of brands luxuriousness in Korean SMEs. First, it examined the world market of luxury goods industry and the present condition of Korean market. Then it identified the constituents of luxuriousness by examining the prior studies and related literatures, and designed a research model based on the theoretical grounds to suggest the methods of brand luxuriousness building of Korean SMEs. Luxuriousness can be defined as the attribute of product that distinguishes luxury goods from other products by consumers' perceptions, and the factor that provides situational benefits that motivate consumers' purchasing behavior. In this study, I identified the sub-dimensions of luxuriousness according to whether there are product related attributes and consumers' benefit in consideration of the problems of existing studies. Product related luxuriousness are classified into superiority(functional benefit) and scarcity(experiential benefit), while non-product related luxuriousness are classified into differentiation(symbolic benefit) and traditionality(exclusive benefit). The following are the ways to build brand luxuriousness. First, company can use product factors. High quality, excellent design, high recognized brand with strong, favorable and unique images can enhance the luxuriousness of brand. Second, company can use price factors. Consumers tend to perceive luxury goods as high-priced items, so lowering the price of product can undermine the luxuriousness of product. Third, company can use distribution factors. It is effective for making consumers to perceive the differentiation and scarcity of luxuriousness through limited distribution channel. In addition, store atmosphere suitable for luxury brands should be created. Fourth, company can use promotion factors. The more consumers are exposed to advertisements, the more positive attitudes toward luxury brands are made, and consumers recognize luxuriousness higher. Price promotion negatively affects consumers' perception of luxuriousness. Fifth, company can use corporate factors. Consumer evaluations of products are influenced not only by the product attributes but also by the corporate association and corporate image surrounding the product. Considering the existing researches, it is possible to enhance the brand luxuriousness through high corporate competence and good corporate reputation. In order to increase the competence of the enterprise, it is useful to approach multidimensionally in relation with the knowledge creation capability. In corporate reputation, the external stakeholders' reputation is important, but the internal members' reputation is also important. Korean SMEs will be able to build brand luxuriousness by establishing marketing strategies as above and/or mix(integrate) them according to the situation.

• 한국벤처창업학회:학술대회논문집
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• 2018.11a
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• pp.165-175
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• 2018

Since the 1997 financial crisis, large scale unemployment and poverty have become serious, and public and social job creation projects have been carried out. However, with the limitations of low-wage and short-term jobs, the need for long-term and high quality jobs gradually began to attract attention. In recent years, social enterprises have grown both quantitatively and qualitatively and interest in social enterprises has increased. And also it is interested in the determinants of success and failure of social enterprises in the academic field. In this study, we examined the effects of social enterprise characteristics on financial and social performance, and we analyzed empirically by using social enterprises registered in the Korea Social Enterprise Agency. The financial performance of the social enterprise is measured by the net income ratio, operating income ratio, and the return on asset. The social performance of the social enterprise is measured by total number of workers and the employment rate of the vulnerable social groups. The characteristics of the social enterprise include the CEO characteristics (gender, age, experience in operating the social enterprise), the firm size, and the elapsed time of the authentication. The results of the empirical analysis are as follows. First, as a result of analysis for the effect on financial performance, we found that the financial performance have a statistically significant positive relationship with firm size, organizational form, government subsidies and capital adequacy ratio. And it is found that the social performance have a statistically significant negative relationship with CEO age, credit debt dependence. Second, as a result of analysis for the effect on social performance, we foumd that total number of workers have a significant positive relationships with CEO gender, CEO age, and firm size, government subsidies, while total number of workers have a significant negative relationship with certification type and industry dummy. On the other hand, the employment rate of the vulnerable social groups have a siginificant positive relationship with CEO gender and certification type and It have not statistically significant relationship with the government subsidies and the firm size.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.14 no.2
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• pp.61-72
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• 2019

Since the financial crisis in 1997, large scale unemployment and poverty have become serious, but there has been a surge in public and social job creation projects. However, with the limitations of low-wage and short-term jobs, the need for long-term, high quality jobs gradually began to garner attention. In recent years, social enterprises have grown both quantitatively and qualitatively and interest in social enterprises has increased; more specifically, scholars are interested in the determinants of success and failure of social enterprises in the academic field. In this study, we examined the effects of social enterprise characteristics on financial and social performance. In particular, we empirically analyzed social enterprises registered in the Korea Social Enterprise Agency. The financial performance of the social enterprise was measured using the net income ratio, operating income ratio, and the return on asset. The social performance of the social enterprise was measured by the total number of workers and the employment rate of vulnerable social groups. The characteristics of the social enterprise included CEO characteristics (gender, age, experience in operating the social enterprise), firm size, and the elapsed time of authentication. The results of the empirical analysis are as follows. First, as a result of analysis for the effect on financial performance, we found that the financial performance has a statistically significant, positive relationship with firm size, organizational form, government subsidies, and capital adequacy ratio. And we found that the social performance has a statistically significant, negative relationship with CEO age and credit debt dependence. Second, as a result of analysis for the effect on social performance, we found that the total number of workers had a significant, positive relationship with CEO gender and CEO age, as well as firm size, government subsidies; whereas the total number of workers had a significant, negative relationship with certification type and industry dummy. Comparatively, the employment rate of the vulnerable social groups had a significant, positive relationship with CEO gender and certification type, but there was no statistically significant relationship with the government subsidies or firm size.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.5
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• pp.217-240
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• 2023

For a while, Functional cosmetics, Cosmeceutical cosmetics, and Derma cosmetics have gained trust and become popular due to the consumers' strong interest in ingredients & efficacy. It's remarkable that Clean or Vegan brands are growing fast because they are emphasizing on different values from the other cosmetic brands. It's needed to attempt to analyze the influence relationship between consumer lifestyle and social value in these changes, and to find out whether the consumption of vegan cosmetics is related to satisfying the need for self-expression in a social atmosphere where ESG is emphasized on. This study analyzed the effect of lifestyle types and self-expression needs on the purchase intention of vegan cosmetics by mediating social values for cosmetics consumers. Lifestyle types were classified into appearance-oriented, health-oriented, and fashion-oriented. For empirical analysis, 321 questionnaires collected from cosmetics consumers living across the country were used. SPSS v26.0 and PROCESS macro v4.2 were used to analyze based on a single mediating model as a single mediator. As a result of the analysis, first, lifestyle types and self-expression needs, excluding appearance-oriented types, were found to have a positive (+) effect on social values. Second, it was found that social value had a positive (+) significant effect on the purchase intention of vegan cosmetics. Third, appearance-oriented, health-oriented, trend-seeking lifestyle types and self-expression needs were all found to have a positive (+) effect on the purchase intention of vegan cosmetics. Fourth, social values were found to mediate lifestyle types, self-expression needs, and purchase intentions, except for appearance-oriented types. Appearance-oriented consumers do not directly affect social values but affect purchase intentions, suggesting that appearance-oriented consumers may not be significantly affected by product-related social values. In a comparison of the relative influence size using standardization coefficients, self-expression needs had the greatest impact on the purchase intention of vegan cosmetics when mediating social values, and health-oriented ones had the least impact. The academic implications of this study include contributing to consumer behavior research by providing insights, mediation mechanisms, and consideration of the niche consumer sector, and directing further research into the cosmetics industry beyond forming marketing strategies and sustainable business practices.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.9 no.1
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• pp.15-23
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• 2014

A Case Study on Venture and Small-Business Executives' Use of Strategic Intuition in the Decision Making Process This paper is a case study on how Venture and Small-Business Executives managers can take advantage of their intuitions in situations where the business environment is increasingly uncertain, a novel situation occurs without any data to reflect on, when rational decision-making is not possible, and when the business environment changes. The case study is based on a literature review, in-depth interviews with 16 business managers, and an analysis of Klein, G's (1998) "Generic Mental Simulation Model." The "intuition" discussed in this analysis is classified into two types of intuition: the Expert Intuition which is based on one's own experiences, and Strategic Intuition which is based on the experience of others. Case study strategic management intuition and intuition, the experts were utilized differently. Features of professional intuition to work quickly without any effort by, while the strategic intuition, is time-consuming. Another feature that has already occurred, one expert intuition in decision-making about the widely used strategic intuition was used a lot in future decision-making. The case study results revealed that managers were using expert intuition and strategic intuition differentially. More specifically, Expert Intuition was activated effortlessly, while strategic intuition required more time. Also, expert intuition was used mainly for making judgments about events that have already happened, while strategic intuition was used more often for judgments regarding events in the future. The process of strategic intuition involved (1) Strategic concerns, (2) the discovery of medium, (3) Primary mental simulation, (4) The offsetting of key parameters, (5) secondary mental simulation, and (6) the decision making process. These steps were used to develop the "Strategic Intuition Decision-making Model" for Venture and Small-Business Executives. The case study results further showed that firstly, the success of decision-making was determined in the "secondary mental simulation' stage, and secondly, that more difficulty in management was encountered when expert intuition was used more than strategic intuition and lastly strategic intuition is possible to be educated.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.3 no.2
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• pp.65-88
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• 2008

To achieve the age of 30,000 dollars GNP, The business with speed will hold a more crucial point than the business with scale, and the mass consumption market will be transformed and changed into the niche market. Moreover, it will not be easy for the company without the peculiar and creative technology to survive in the severe competition. Under these circumstances, The innovative company which knows how to use this new paradigm will select the better position in the changing market. Innovation type SMEs are contributing in maintaining the international competitiveness of domestic economy by serving high-tech and the promotion of employment. Also, Innovation type SMEs have the most important economic leverage in our domestic economy. It's a source of the growth in domestic economy. Therefore, A lot of countries have been trying to support innovation type SMEs (with a small capital and high-tech). And many countries also try to protect and promote the innovation type SMEs. Especially the Korean government is also promoting innovation type SMEs in many ways, because the future of innovation type SMEs are not bright. This study explored the three innovative SEMs and studied 1) entrepreneur characteristics, 2) the industry environment, 3) competitive strategies, and 4) resources and capabilities of organization, which have been considered as the success factors for entrepreneurial firms. This study also holds that the characteristics of entrepreneurs is one of the most important factor to impact the success of innovative SMEs. Most of entrepreneurs have started their business with high education career and field experiences and have high intentions in developing new/high techonologies, challenging spirits, and clear vision and goals. The innovative SMEs with small kinds of products and services, narrow market, and small resources are more sensitively impacted by the environment especially. But the SMEs which entered into market early could have the comparative excellencies in their market to survive and grow in the future. They also have competitive advantages in the market using differentiation strategies by technology innovation. Technology innovation and differention strategies are one of the success factors in SMEs, They entered into the niche market using this weapons. The capabilities of changing organization to their changing environment, the open orgarnization culture, the continuous employment education, and the building the organic organization are also success factors of innovative SMEs. The SMEs with the simple organization structure can make fast decisions and operate with the autonomous and flexible ways. These only three cases will not shown successful factors of over 12,000 Innovation type SMEs in Korea and this study of Innovation type SMEs is insufficient from all aspects. But this study have many implications for the future research and the entrepreneurs ready for their business.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.9 no.2
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• pp.233-250
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• 2014

Since 2000, people who lived in the city begin to see returning to farming in a new perspective. People returning to the farming became a trend and therefore, the number of people who are returning to farm are increasing. Because of the concept of take up farming is developing as an idea of establishing a new business, the government agency and the government-related organization are very supportive as the government is interested in the business. The conclusion is below regarding the analysis result In order to receive the analysis of actual proof, we conducted a survey targeting 300 people who returned to farming village in the whole country, excluding Jeju Island from Aug 1st 2013 to Aug 30th 2013. Except uncandidness answers, we used 252 survey results of our sample. Also we used SPSS Wim Ver. 18.0 to draw a conclusion regarding the collected sample. First, regarding of Hypothesis 1 "Personal characteristic will give positive effects in returning to farming village", was partially supportive Second, regarding of Hypothesis 2 "Reason of settling will give positive effects in returning to farming village", was partially supportive Third, regarding of Hypothesis 3 "Geographic characteristics will give positive effects in returning to farming village", was partially supportive Fourth, the effect of social support between the individual characteristic, reason of settling, and geographic characteristics, the result indicated that the social support was partially supportive in farm returners regarding reason of settlement. However, there were no social support effect in returning to farm satisfaction regarding of geographic characteristic. Fifth, after analysing the difference of personal characteristic regarding demographic characteristic, reason of settlement, and geographic characteristic, the result indicated that people who are age 40+, who graduated graduate school lived in metropolitan city, settling to Jeollabuk-do felt higher satisfaction of returning to village than people who are in their 30s, graduated university, lived in city/district, and now settling to Kyung-book and Choong-nam.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.15 no.2
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• pp.1-18
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• 2020

This study is to identify the influence of major variables that affect the participation intention of securities type crowdfunding investors and how participation intention and perceived behavioral control affect investors' herd behavior including indirect effect analysis based on the theory of planned behavior. The ultimate purpose of this study is to understand the investment behavior of securities type crowdfunding investors and to help the relevant parties to develop various policies and business plans to revitalize the system and protect investors. An online survey was conducted on people who are interested or have experience in securities type crowdfunding to receive a total of 276 responses. Excluding outliers, a total of 261 responses were taken into account for the final analysis. For the data analysis, structural equation model analysis using SPSS 22.0 and Amos 22.0 statistical package was conducted. As a result, two of the major variables of the theory of planned behavior-attitude and subjective norm-have been found to have a positive effect on the participation intention of securities type crowdfunding investors. And after analyzing the indirect effect, the participation intention was found to play a mediating role between attitude, subjective norm and herd behavior. However, the perceived behavioral control presented as a major variable of behavioral intention in the theory of planned behavior showed that the effect on participation intention was statistically insignificant. Instead, it was found to have a direct positive effect on herd behavior. This is significant because it empirically confirmed that even if investors perceive securities type crowdfunding as easy to participate, perceived behavioral control does not seem to have a significant impact on participation intention because securities type crowdfunding is an investment in an early-stage business with a high risk of loss. On the other hand, the study has great significance in that it empirically confirmed that domestic securities type crowdfunding investors perceive the funding progress information provided by the platform as a signal and imitate many other investors, showing herd behavior when they actually make an investment. It is expected that this study will provide meaningful insights for the policy making of crowdfunding supervisory offices and platform operators by empirically identifying major variables that influence the participation intentions and herd behavior of domestic securities type crowdfunding investors.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.16 no.4
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• pp.195-209
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• 2021

According to the 2019-2020 social media usage survey conducted by the Seoul e-commerce center, 5 out of 10 consumers have experienced shopping through social media. The cost of traditional advertising media has been reduced and advertising spending on social media has risen by 74%, indicating that social media is becoming a more important marketing element. While the number of users of social media has increased and corporate marketing activities have increased accordingly, research has been conducted in various aspects of marketing such as user motivation for social media, satisfaction, and purchase intention. There was no subdivided study on the differences in the social media usage frequency of consumers in actual purchasing behavior. This study attempted to identify differences in consumer characteristics by cluster in the agrifood purchase situation by grouping them by type according to the frequency of use of social media for consumers who purchase agri-food online. Product involvement, product need, and online purchase channel Consumer characteristics such as demographic distribution, perceived risk, and eating and lifestyle in each cluster were checked for the three agrifood purchase situations including choice, and types for each cluster were presented. To this end, questionnaire data on the frequency of social media use and online agrifood purchase behavior were collected from 245 consumers, and the validity of the measurement variables was secured through factor analysis and reliability analysis. As a result of cluster analysis according to the frequency of social media use, it was divided into three clusters. The first cluster was a group that mainly used open social media, and the second cluster was a group that used both open and closed social media and online shopping malls; The third cluster was a group with low online media usage overall, and the characteristics of each cluster appeared. Through regression analysis, the effect on product involvement, product need, and purchase channel selection when purchasing agri-food online through each of the three clusters was confirmed through regression analysis. As a result of the regression analysis, the characteristic of cluster 1 in the situation of purchasing agri-food online is a male in his 30s living in a rural area who has no reluctance to purchase agri-food on social media or online shopping malls. The characteristics of cluster 2 are mainly consumers who are interested in purchasing health food, and the consumer characteristics are represented. In the case of cluster 3, when purchasing products online, they purchase after considering quality and price a lot, and the consumer characteristics are represented as people who are more confident in purchasing offline than online. Through this study, it is judged that by identifying the differences in consumer characteristics that appear in the agri-food purchase situation according to the frequency of social media use, it can be helpful in strategic judgments in marketing practice on social media customer targeting and customer segmentation.