• Title/Summary/Keyword: Focus Strategy

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The Way to Use Information on Long-term Returns: Focus on U.S. Equity Funds (장기 수익률 정보의 활용 방안: 미국 주식형 펀드를 대상으로)

  • Ha, Yeon-Jeong;Oh, Hae-June
    • Asia-Pacific Journal of Business
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    • v.13 no.1
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    • pp.167-183
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    • 2022
  • Purpose - The purpose of this study is to show the need to use the past long-term returns for investment decisions in U.S. equity funds and to suggest an investment strategy using long-term returns. Design/methodology/approach - This study solves the problem of high return volatility in long-term returns and proposes new investment portfolios based on the behavior of fund investors according to past returns. For the investment portfolio of this study, 60 months are divided into several periods and the average of the performance ranks for each period is used. Findings - First, funds with high average returns over multiple periods have lower future outflows and higher future returns than funds with high 60-month cumulative returns. Second, funds with low average returns over multiple periods have lower future inflows and lower future returns than funds with low 60-month cumulative returns. The findings mean that when making decisions based on past long-term returns, it is a smarter investment choice to buy funds with high average returns over multiple periods and sell funds with low average returns over multiple periods. Research implications or Originality - This study shows that it is necessary to use long-term returns in fund investment by analyzing the characteristics of the portfolio based on past returns. In addition, the study is meaningful in that it suggests a way to use long-term returns more efficiently based on the behavior of fund investors and shows that such investments lead to higher returns in the future.

A Systematic Literature Review of Manufacturing Companies' Innovation Strategies in Korea (한국의 제조기업 혁신전략에 대한 체계적 문헌 연구)

  • Seungyeon Moon
    • Journal of Technology Innovation
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    • v.31 no.2
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    • pp.135-172
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    • 2023
  • When discussing a company's technology management, manufacturing companies' innovation strategy is vital because it is connected to each company's competitive advantage in various ways, such as technology acquisition, R&D, and product innovation. The research on manufacturing companies' innovation strategies has been studied in various ways, such as performance and resources for innovation; however, very little research has been done to synthesize existing research outcomes. In this study, we conduct a systematic literature review of 51 articles related to manufacturing companies' innovation strategies. By doing so, we synthesized the results of extant studies based on three perspectives: the research target, the research focus, and the types of innovation strategies. In addition, I derived the unique properties of the research on manufacturing companies' innovation strategies. The analysis indicated that Korea's research on manufacturing companies' innovation strategies had been unequally distributed. Based on this, we suggested research agendas for future research on manufacturing companies' innovation strategies.

The Effect of the Korean Wave Phenomenon toward Imitation Intention: Korean Product Purchase Intention in the Global Market

  • Robetmi Jumpakita Pinem;Kim TaeIn
    • Journal of Korea Trade
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    • v.27 no.4
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    • pp.45-60
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    • 2023
  • Purpose - This research focused on women who enjoy watching Korean dramas and K-pop, as well as how their desire to imitate are influenced by their viewing habits. Due to the influence of their idols, women who aspire to copy and are influenced by their idols will desire to purchase Korean products. This cultural export strategy has effectively persuaded the global community, particularly women. Indonesia with a large population can be a reference for the industry to increase sales of South Korean beauty products, especially in the ASEAN region. Design/methodology - This research used a quantitative approach with an online questionnaire. This questionnaire had two steps: the pre-questionnaire and the questionnaire itself. The different measuring tools that were already in use when the data were being collected helped to determine how much each variable meant. As a part of this research project, 410 Indonesian women filled out the questionnaire in order to share their thoughts as they were the focus of the study. SMART PLS was used to analyze the data. Findings - One of the most essential findings from establishing the Korean Wave effect on purchase intention was the imitation intention variable. Someone who has the aspiration to be just like their idol will be willing to give anything in order to achieve that goal. One strategy is to buy things that are similar to the ones you want to imitate in order to stimulate demand for Korean products. People's imitation intention and attitude toward Korean products will increase as a result of Korean drama and K-pop elements that display one's idols with fashionable appearances and good-looking faces, which will lead to purchase intentions. Originality/value - The Korean Wave has had a beneficial impact on the intention to imitate and the attitude toward Korean items, both of which will favorably boost the intention to acquire Korean goods. In order to boost sales in international markets, particularly in Indonesia, the Korean business sector needs to increase the number of artists and singers it employs for product promotion. . Mutualism effect between the government, the entertainment industry, and the beauty product industry to increase sales of South Korean beauty products.

A Study on the Purpose of Patent Application by Companies: Focus on Chinese Companies (기업의 특허출원 목적에 관한 연구: 중국기업을 대상으로 21)

  • Eun-Mi Park;Seong-Taek Park
    • Journal of Industrial Convergence
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    • v.20 no.12
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    • pp.227-233
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    • 2022
  • The purpose of this research is to grasp the purpose of patent applications by companies. Based on this, we grasped the purpose of the patent application through consideration of previous research, selected 10 factors through expert Delphi, and conducted a questionnaire survey on these factors among practitioners in charge of patents in Chinese companies. Analysis results, Improve the technological image of your company, For use in negotiation: cross licensing, joint venture, Improve the situation in R&D cooperations, Enhance Reputation, Measure performance, Aacquire venture capital, Prevent patent infringement suits, Licensing Revenue, competitors' patenting and application activities, prevent copying or protect own technology from imitation. We hope that the results of this research will be useful as practical guidelines for understanding and applying factors that companies should prioritize when filing patent applications.

Analyzing the Current Operating Management and Customer Royalty of Restaurants at Tourism Provineces in Donghea city (관광지역 외식점포의 운영실태 및 관광객의 - 동해시를 중심으로 -)

  • Chae, In-Sook
    • Journal of the Korean Society of Food Culture
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    • v.21 no.4
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    • pp.388-395
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    • 2006
  • The purpose of this study was to analyze the current operating management practices and tourist royalty of restaurants at the tourism provinces in Donghae city. Forty restaurants were surveyed for sales status, customer management, menu management, advertising, marketing strategy and seventy seven tourists replied to the attitudinal and behavioral aspects of customer royalty for regular visiting restaurant. Statistical data analyses were completed using the SPSS/WIN pact(age program for descriptive analysis, paired difference test, t-test, ANOVA, and pearson correlation. The results of quantitative analysis indicated that the average sales per day on a high-demand season were 1,571 thousand won and one on a slack season were 614 thousand won. The average check on a high-demand season(109 persons) and a slack season(38 persons) were significant difference(t=6.834, p<.001). A total of 93.5% of the restaurateurs answered that menu pricing was decided by the owner and 21.7% of the subjects used the only restaurant homepage in the advertising method. A total of 40.6% of the restaurants utilized the only kind service for regular customers and 35.1% of the subjects had no method for them. The results suggest that systematic management policies and marketing strafes for regular customer is very necessary. Also, the correlation between tourists' attitudinal and behavioral aspects of customer royalty for regular visiting restaurant was found out. High correlation was existed between the overall tourists' satisfaction on regular visiting restaurant, the intention to revisit(BCL 1, p<.001), the intention to recommend(BCL 2, p<.001), and indicators of customer royalty. Finally, restaurateurs at the tourism provinces should focus on marketing strategy to keep and improve current customer to rise the tourist royalty.

Analysis of Genie Music's Strategy for Strengthening Customer Interactive : Focus on SWOT and TOWS Analysis (고객 인터렉티브 강화를 위한 지니뮤직의 전략 도입과 현황분석 : SWOT과 TOWS 분석을 중심으로)

  • Kwon, Boa;Park, Sang-hyeon
    • Journal of Venture Innovation
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    • v.4 no.1
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    • pp.87-99
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    • 2021
  • The importance of "personalization technology" has recently been highlighted due to the Covid-19 and the development of IT technology such as AI and big data, which is soon coming beyond personalization into the "super-personalization era." Therefore, in terms of the music streaming service market, it has formed a service supply trend in which individual tastes are respected and companies are seeking to establish a realistic analysis and development direction considering the external market environment. From this perspective, this paper sought to analyze the strengths and weaknesses of the Genie Music's and provide a direction for development based on Genie Music's customer interactive strategy. In particular, it was intended to analyze the advantages and disadvantages of customer interactive strategies with the 'live music service platform' that moves with customers and to provide directions for future corporate development. As an analysis method, we looked at strengths and weaknesses, opportunities and threat requirements based on SWOT analysis. Afterwards, the company attempted to present specific corporate development strategies through TOWS analysis.

A Study on the Selection of Evaluation Indicators of Amenities (국토 어메니티 평가지표 개발)

  • Lee, Jae-Joon;Choi, Seok-Hwan;Kim, Sun-Hee
    • Journal of the Korean Institute of Landscape Architecture
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    • v.38 no.1
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    • pp.25-38
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    • 2010
  • This study aims to, first, classify the approach system of utilizing national and local amenities into three groups: evaluation of the level of the amenity, evaluation of the value of amenity resources, and utilization of amenity resources. Secondly, the study aims to derive an evaluation index which is required according to the approach system. As for a strategy of utilizing amenities, the self-diagnosis based on the evaluation of the level of local amenities is required. In this study, three sectors, ten items and 43 detailed items have been derived though specialists, FGIs(Focus Group Interview), and the cases within and outside of the country. In the survey with specialists, a unit-space key index which can be used in accordance with the unit-space characteristics(such as urban and rural area, fishing villages, mountain villages, and littoral areas), environmental area, important index and optional index have been derived. As for the evaluation index which is needed for the development of typical local amenities resources, 14 detailed evaluation indexes from three sectors have been derived. These have been classified again into six key indexes, six important indexes and two optional indexes. In the evaluation index of amenity resources, natural and environmental value-such as ecological value of preservation, uniqueness of aesthetic landscape and ecological value of restoration-historic and cultural value of preservation and individuality of the resources, and aesthetic and cultural values are derived as being important. As for utilization of amenity resources, 15 items from three sectors-such as reservation, restoration, intentional use, and industrial use-have been derived. Also, through a survey with specialists, key indexes and important indexes were derived by unit-space. As a result, in urban areas, seven items-including creative development of space, aesthetic landscape control and development of cultural contents-have been derived as key indexes; in rural areas, mountain villages, fishing villages and littoral areas, eight items-including brand of region, brand of the products, and brand of tourism resources-have been derived. In environmental areas, six items-including reservation of natural resources, historic and cultural heritage, and restoration of ecosystem-have been derived. Indexes derived from this study can be utilized in order to establish a strategy for amenity plans and an implementation strategy, but can be readjusted, allowing for various regional characteristics. It is, thus, advisable that local governments selectively utilize indexes according to regional characteristics or newly develop them for the maximum utilization of regional amenities.

An Exploratory Study on the Industry/Market Characteristics of the 'Hyper-Growing Companies' and the Firm Strategies: A Focus on Firms with more than Annual Revenue of 100 Million dollars from 'Inc. the 5,000 Fastest-Growing Private Companies in America' (초고성장 기업의 산업/시장 특성과 전략 선택에 대한 탐색적 연구: 'Inc. the 5,000 Fastest-Growing Private Companies in America' 기업 중 연간 매출액 1억 달러 이상 기업을 중심으로)

  • Lee, Young-Dall;Oh, Soyoung
    • 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.

A Study on the Born Global Venture Corporation's Characteristics and Performance ('본글로벌(born global)전략'을 추구하는 벤처기업의 특성과 성과에 관한 연구)

  • Kim, Hyung-Jun;Jung, Duk-Hwa
    • Journal of Global Scholars of Marketing Science
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    • v.17 no.3
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    • pp.39-59
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    • 2007
  • The international involvement of a firm has been described as a gradual development process "a process in which the enterprise gradually increases its international involvement in many studies. This process evolves in the interplay between the development of knowledge about foreign markets and operations on one hand and increasing commitment of resources to foreign markets on the other." On the basis of Uppsala internationalization model, many studies strengthen strong theoretical and empirical support. According to the predictions of the classic stages theory, the internationalization process of firms have been recognized and characterized gradual evolution to foreign markets, so called stage theory: indirect & direct export, strategic alliance and foreign direct investment. However, termed "international new ventures" (McDougall, Shane, and Oviatt 1994), "born globals" (Knight 1997; Knight and Cavusgil 1996; Madsen and Servais 1997), "instant internationals" (Preece, Miles, and Baetz 1999), or "global startups" (Oviatt and McDougall 1994) have been used and come into spotlight in internationalization study of technology intensity venture companies. Recent researches focused on venture company have suggested the phenomenons of 'born global' firms as a contradiction to the stages theory. Especially the article by Oviatt and McDougall threw the spotlight on international entrepreneurs, on international new ventures, and on their importance in the globalising world economy. Since venture companies have, by definition. lack of economies of scale, lack of resources (financial and knowledge), and aversion to risk taking, they have a difficulty in expanding their market to abroad and pursue internalization gradually and step by step. However many venture companies have pursued 'Born Global Strategy', which is different from process strategy, because corporate's environment has been rapidly changing to globalization. The existing studies investigate that (1) why the ventures enter into overseas market in those early stage, even in infancy, (2) what make the different international strategy among ventures and the born global strategy is better to the infant ventures. However, as for venture's performance(growth and profitability), the existing results do not correspond each other. They also, don't include marketing strategy (differentiation, low price, market breadth and market pioneer) that is important factors in studying of BGV's performance. In this paper I aim to delineate the appearance of international new ventures and the phenomenons of venture companies' internationalization strategy. In order to verify research problems, I develop a resource-based model and marketing strategies for analyzing the effects of the born global venture firms. In this paper, I suggested 3 research problems. First, do the korean venture companies take some advantages in the aspects of corporate's performances (growth, profitability and overall market performances) when they pursue internationalization from inception? Second, do the korean BGV have firm specific assets (foreign experiences, foreign orientation, organizational absorptive capacity)? Third, What are the marketing strategies of korean BGV and is it different from others? Under these problems, I test then (1) whether the BGV that a firm started its internationalization activity almost from inception, has more intangible resources(foreign experience of corporate members, foreign orientation, technological competences and absorptive capacity) than any other venture firms(Non_BGV) and (2) also whether the BGV's marketing strategies-differentiation, low price, market diversification and preemption strategy are different from Non_BGV. Above all, the main purpose of this research is that results achieved by BGV are indeed better than those obtained by Non_BGV firms with respect to firm's growth rate and efficiency. To do this research, I surveyed venture companies located in Seoul and Deajeon in Korea during November to December, 2005. I gather the data from 200 venture companies and then selected 84 samples, which have been founded during 1999${\sim}$2000. To compare BGV's characteristics with those of Non_BGV, I also had to classify BGV by export intensity over 50% among five or six aged venture firms. Many other researches tried to classify BGV and Non_BGV, but there were various criterion as many as researchers studied on this topic. Some of them use time gap, which is time difference of establishment and it's first internationalization experience and others use export intensity, ration of export sales amount divided by total sales amount. Although using a mixed criterion of prior research in my case, I do think this kinds of criterion is subjective and arbitrary rather than objective, so I do mention my research has some critical limitation in the classification of BGV and Non_BGV. The first purpose of research is the test of difference of performance between BGV and Non_BGV. As a result of t-test, the research show that there are statistically efficient difference not only in the growth rate (sales growth rate compared to competitors and 3 years averaged sales growth rate) but also in general market performance of BGV. But in case of profitability performance, the hypothesis that is BGV is more profit (return on investment(ROI) compared to competitors and 3 years averaged ROI) than Non-BGV was not supported. From these results, this paper concludes that BGV grows rapidly and gets a high market performance (in aspect of market share and customer loyalty) but there is no profitability difference between BGV and Non_BGV. The second result is that BGV have more absorptive capacity especially, knowledge competence, and entrepreneur's international experience than Non_BGV. And this paper also found BGV search for product differentiation, exemption strategy and market diversification strategy while Non_BGV search for low price strategy. These results have never been dealt with other existing studies. This research has some limitations. First limitation is concerned about the definition of BGV, as I mentioned above. Conceptually speaking, BGV is defined as company pursue internationalization from inception, but in empirical study, it's very difficult to classify between BGV and Non_BGV. I tried to classify on the basis of time difference and export intensity, this criterions are so subjective and arbitrary that the results are not robust if the criterion were changed. Second limitation is concerned about sample used in this research. I surveyed venture companies just located in Seoul and Daejeon and also use only 84 samples which more or less provoke sample bias problem and generalization of results. I think the more following studies that focus on ventures located in other region, the better to verify the results of this paper.

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A Study on the Categorization of Reading Strategies for Reading Instruction in School Library (학교도서관 중심의 독서교육을 위한 독서전략 범주화에 관한 연구)

  • Lee, Byeong-Ki
    • Journal of Korean Library and Information Science Society
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    • v.39 no.3
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    • pp.139-159
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    • 2008
  • Much of the current literature on reading instruction supports the idea of teaching students a series of reading strategies instead of isolated reading skills. Reading strategies are plans or methods that can be used or taught to facilitate reading proficiency. In the meantime, the reading instruction program of school library is the reading promotion event has been limited. Therefore, the reading instruction program of school library need to focus reading strategies oriented instruction rather than reading skill. This Study categorizes Reading Strategies that divided into text type, text structure, reading process, cognitive strategies.

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