• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.12 no.3
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• pp.53-63
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• 2017

With increasing the importance of venture startup in the national economy, a trend shows that the government's policy support for venture startup is not only strengthened, but also entrepreneurial enthusiasm is increasing. In order for this trend to continue as an ongoing phenomenon, not a temporary phenomenon, venture startups should continue to grow with survival competitiveness. In this respect, there is a time when it is necessary to study the factors affecting the success of venture startups more than ever. There is a limit to seeing main factors, which affect the entry into the growth stage with survival competitiveness for the success of venture startups, as only 'entrepreneur capacity' and 'differentiation strategy' claimed by existing previous studies. As a more fundamental factor, entrepreneurial behavior is important in terms of opportunity discovery and opportunity utilization, but research into this falls short of expectations. This study is intended to look into success factors of venture startup. To achieve this, a survey was empirically carried out to CEOs in 100 small and medium venture startups through AHP analysis. The results are as follows. As stated above, entrepreneurship of success factors in venture startups is considered most critical, followed by innovation, economics, and technology. And 'entrepreneur's competency', 'positive entrepreneurial motivation', 'creative technology utilization', and 'continuous investment in technical development' are considered most critical for 'entrepreneurship', 'innovation', 'technology', and 'economics' as sub-factors, respectively. Consequently, entrepreneur's entrepreneurship that has been required in general startups is a critical factor to be also in common required in venture startups. This means that they can secure the competitiveness of venture startup along with continuous investment support in business startup with a positive mindset and their own technological competence as innovators to overcome the risk and uncertainty of business startup as entrepreneurship that marks the start of a new enterprise.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.15 no.6
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• pp.167-187
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• 2020

Currently, Korea is changing into an ultra-aging society, and office workers retire at the age of 49.5 on average from their main jobs, and the national pension is delayed from 62 years old to 65 years old by 2034, so research is needed to prepare for the aging of office workers after retirement. The purpose of this study is to examine the factors affecting the intention to start a business after retirement and the mediating effect of another sense of success expectation on life after retirement, targeting office workers nationwide. Changes in individual attitudes and systematic institutional support are needed to prepare for a sustainable job until the age of 100 after retirement, that is, a start-up utilizing wisdom and experience in work life. As a result of the study, the ability to perform the goal as job performance, economic preparation for retirement preparation, preparation for external relations, and future anxiety have a positive effect on the entrepreneurial will, and the ability to use new technologies as job performance, and physical preparation for retirement. Preparation and preparation for internal relations were found to have no effect. In the influencing relationship between preparation for external relations and the will of start-up, and future anxiety and will of start-up, another sense of success was confirmed to have a partial mediation effect. In the relationship between economic preparation and willingness to start a business, the effect of complete mediation was confirmed. In order to increase the will to start a business after retirement, it was confirmed that another sense of expectation for success was an important variable. Introducing a government-sponsored education system in the company to reduce the government's financial burden due to super-aging and achieve corporate growth through employee training while potential founders, office workers, are employed, and entrepreneurship and goals for the three life goals of office workers By introducing a performance improvement program, we were able to get implications that would be a solution to the growth of individuals and businesses and reducing the government's financial burden.

• Korean small business review
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• v.31 no.1
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• pp.73-88
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• 2009

This study examines the characteristics of 24 Korean hidden champions such as key success factors, core competences, strategic problems, and desirable future directions. The study categorized them into 8 types with Danny Miller's four trajectories and top manager's decision making style(rationality and passion). Danny Miller argued in his book, Icarus paradox, that outstanding firms will extend their orientations until they reach dangerous extremes and their momentum will result in common trajectories of decline. He suggested four very common success types: Craftsmen, Builders, Pioneers, Salesmen. He also suggested common trajectories of decline:Focusing(from Craftsmen to Tinkers), Venturing(from Builders to Imperialists), Inventing(from Pioneers to Escapists), Decoupling(from Salesmen to Drifts). In Korea, successful startups appear to possess three kinds of drive: Technology-drive, Vision-drive, Market-drive. Successful technology-driven firms tend to grow as craftsmen or pioneers. Successful vision-driven and market-driven ones tend to grow as builders and salesmen respectively. Korean top managers or founders seem to have two kinds of decision making style: Passion-based and Rationality-bases. Passion-based(passionate) entrepreneurs are biased towards action or proactiveness in competing and getting things done. Rationality- based ones tend to emphasis the effort devoted to scanning and analysing information to better understand a company's threats, opportunities and options. Consequently this study suggested 4*2 types of Korean hidden champions: (1) passionate craftsmen, (2) rational craftsmen, (3) passionate builders, (4) rational builders, (5) passionate pioneers, (6) rational pioneers, (7) passionate salesmen, (8) rational salesmen. These 8 type firms showed different success stories and appeared to possess different trajectories of decline. These hidden champions have acquired competitive advantage within domestic or globally niche markets in spite of the weak market power and lack of internal resources. They have maintained their sustainable competitiveness by utilizing three types of growth strategy; (1) penetrating into the global market, (2) exploring new service market, (3) occupying the domestic market. According to the types of growth strategy, these firms showed different financial outcomes and possessed different issues for maintaining their competitiveness. This study found that Korean hidden champions were facing serious challenges from the transforming economic structure these days and possessed the decline potential from their success momentum or self-complacence. It argues that they need to take a new growth engine not to decline in the turbulent environment. It also discusses how firms overcome the economic crisis and find a new business area in promising industries for the future. It summarized the recent policy of Korean government called as "Green Growth" and discussed how small firms utilize such benefits and supports from the government. Other implications for firm strategies and governmental policies were discussed.

• Journal of Digital Convergence
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• v.13 no.11
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• pp.85-97
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• 2015

This study examined that the assimilated web technologies can contribute to IS(information system) success. Through hierarchical regression analysis, the following findings are identified. First, top management championship, strategic investment rationale, and computer use and access affected web technology assimilation, and then web technology assimilation influenced on IS development success positively. Second, top management championship had more influence than other independent variables in strategies dimension of web technologies assimilation while strategic investment rationale did in activities dimension. Third, the strategies assimilation was more dominant than the activities assimilation for IS success. Thus it is concluded that IT including web technologies brings organizations a powerful business tool and high profit.

• The Journal of the Korea Contents Association
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• v.9 no.12
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• pp.600-612
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• 2009

Special banks primarily using Internet have different properties in transactions with customers, risk management, capital strength, and branch networks with general banks. The success and failure factors of Internet banks have been explained only by the economies of scale, and learning and experience effects of Internet banks based on the perspective of organizational ecologies. In this study, the success factors of Internet banks are investigated based on strategic choice by organizations and resource-based view of the firms instead of organizational ecology perspective. To this end, 31 major Internet banks operating in overseas market have been classified by the size and profitability of banks, and three strategic groups have been derived. three representative company cases were analyzed. critical success factors of Internet banks were derived, and considerable points when operating Internet banks were discussed.

• The Journal of Information Systems
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• v.11 no.1
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• pp.51-74
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• 2002

The purpose of this study is to empirically investigate critical success factors for effective implementation of web-based distance learning system. First of all, four critical success factors are theoretically derived from reviewing previous research. They are: (1) learner-related factor including the variables such as teaming ability, learning attitude, and attending motivation, (2) environmental factor including the variables of physical and mental support for learners, (3) instructional design factor represented by one variable, the degree of appropriateness of learning contents, and (4) the factor concerning the level of self-directed learning readiness embracing the variables such as curiosity for learning, openness towards challenge of learning and affection for learning. Subsequently, the relationships between these four critical success factors and the degree of learning satisfaction are empirically investigated. The data for empirical analysis of the research are collected from 1,020 respondents who have already passed the web-based distance learning courses which have been implemented in Information and Communication Officials Training Institute. Out of 1,020 responded questionnaires, 875 data were available for statistical analyses. The main results of this study are as follows. Firstly, the most important factor for successful implementation of the web-based distance learning system is shown to be the instructional design factor, and in the next place, the self-directed learning readiness factor, the environmental factor and the learner-related one in sequence. Secondly, additional analysis of the variables included in the instructional design factor shows that availability of practical information and knowledge is the most influencing variable, and next, interesting composition of contents, reasonable learning amount, optimal level of instruction, and understandable explanation are significantly important in the descending order. Lastly, among learning motivators, strong intention of acquiring business knowledges and skills is found to be the most important satisfier in the web-based distance learning. The theoretical contribution of this study is to derive a comprehensive model of critical success factors for implementing the web-based distance learning system. And, the practical implication of this study is to propose efficient and effective guidelines for developing and operating the web-based distance learning system in the various kinds of organizations.

• The Journal of the Institute of Internet, Broadcasting and Communication
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• v.17 no.1
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• pp.41-51
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• 2017

Recently, Broadband Internet service in the rural area is deployed actively so it will be needed to identify the factors influencing success for continuous spread. In this paper, we explain the users'satisfaction of BcN for rural area and verify success factors such as obstacles the digital divide through the empirical analysis. We select basic variables from Information System (IS) Success Model and add specific variables from former research about overcoming digital divide. The results show that system quality has a significant influence on satisfaction. Use and satisfaction have an impact on eliminating the digital divide in rural area. Based on the findings, academic and practical implications for establishing Broadband Service in rural area are also discussed.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.39 no.2
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• pp.119-128
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• 2016

Use of ICT in Government has ability to improve service delivery to its citizens, and yet many developing countries have lagged behind in the implementation of e-Government. Many e-Government initiatives also failed to achieve their objectives in developing countries. This paper therefore aims to identify critical failure or success factors in Kenya, using Heeks' Factor Model. A survey questionnaire was developed and data were collected and analyzed from officials and interested citizens. The analysis results enabled to highlight seven specific success and failure factors, and their constituent elements in Kenya. The Kenyan overall e-Government implementation score belongs to the Zone of Improvement (3.52 of total 5.0), which means partial success or failure. The enablers of e-Government projects are good strategy formulation, and internal and external drive, whereas main failures of e-Government are weak ICT infrastructure. The areas for improvement are project management, design, competencies and funding. Data analysis highlights both strengths and weaknesses for each factor or variable. In particular, Kenyan government excels at the drive for change by top to bottom government officers as well as external stakeholders, while the government officers who are using e-Government are satisfied with the availability of vision, strategy and plan of e-Government implementation. Both technologies and e-transactions laws were the worst of all the variables in e-Government implementation. Two areas should be improved using immediate corrective action. In-depth study reveals that government officers and citizens can't fully use their laptop and mobile devices due to the lack of both ICT network and its operating technology, and legal system associated with the transaction of business information. Finally, the study ends up with recommendations for policy makers to shape the future of e-Government system in both developing and developed countries.

• Journal of Distribution Science
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• v.16 no.1
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• pp.59-71
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• 2018

Purpose - Recognizing the importance of small and medium enterprises and venture enterprises for the domestic economy, the purpose of the present study is to select factor termed export modes from among various export success strategies and factors that can help those enterprises secure export competitiveness in the world market to analyze the effects of export modes on the amounts of exports and periods until export after the foundation of those enterprises. Research design, data, and methodology - A structured questionnaire was used as a tool to derive the purpose of the study, and a questionnaire survey was conducted using a mobile survey technique that facilitated the distribution of questionnaire sheets and the collection of results. The main methodology used is crossover analysis, and the regression analysis technique was applied to verify the study results derived, thereby securing the reliability and validity of the final results derived. Results - Small and medium venture enterprises with shorter periods of time until the first export success after establishment adopted direct export modes more frequently, and those enterprises with larger amounts of the first export after establishment adopted direct export modes more frequently. The results of quantitative analysis, indicating that 66.1% of those enterprises with an export amount exceeding one billion won adopted direct export modes, can be said to support the foregoing. The crossover analysis results derived as such were reanalyzed using the PPML regression analysis technique to quantitatively identify that the amounts of the first export of enterprises that adopted direct export modes were larger than those of enterprises that adopted indirect export modes by 120%. Conclusions - The present study implies differentiated values in three aspects. First, the present study investigated and presented the export success factors and strategies of small and medium venture enterprises in a total of 14 countries in the Asian region, European region, North American region, African region, and South American region. Second, it intensively investigated five export modes to identify and verify that they were affecting the export success of small and medium venture enterprises. Third, based on the results of the investigation, the present study presented two marketing implications in the pragmatic aspect.

• Management & Information Systems Review
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• v.15
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• pp.19-35
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• 2004

Top management's will was considered most positive by all of the surveyed local businesses, followed by organizational culture, information technology, evaluation and reward, and organizational structure in order. When influences of educational background on factors of success in knowledge management were analyzed, it was found that such background was affecting organizational structure at the significance level of 0.01 and information technology and top management's will at that of 0.05. Those who were more educated responded that success in knowledge management were dependent more on top management's will. but less on organizational structure. Concerning effects of organizational position on factors of success in knowledge management, it was found that such position was influencing top management's will at the significance level of 0.01 and organizational structure at that of 0.05. Those who were higher in organizational position responded that success in knowledge management were dependent less on top management's will, but more on organizational culture, and evaluation and reward. It as generally agreed among the surveyed businesses that knowledge management is a key strategy for business survival in the 21st century. To utilize knowledge management as their strategy, Korea's businesses should change their recognition of such management, reform their organizational culture, have CEOs of strong conviction and will and firmly establish their own information technology. It is necessary to make recognized the importance of knowledge management and culture knowledge management culture. If a person has a strong conviction or will of achieving goals by using intellectual efforts, creative imagination and necessary information, such information can be regarded as a proper knowledge. In conclusion, knowledge enterprises should strengthen their ability of knowledge use by associating their competition strategies with knowledge management. They also need to positively invest in the capture and new development of knowledge and build up infrastructures for knowledge management.