• Title/Summary/Keyword: Market Failure

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A Study of Analysis for Impact Assessment of the Cost Risk-Factor on the Design-Build Projects based on Business Process (설계시공일괄방식 사업의 업무단계별 사업비용 리스크요인에 대한 영향도 평가 및 분석)

  • Seo, Jae-Pil;Lee, Sang-Hyun;Song, Young-Woong;Choi, Yoon-Ki
    • Korean Journal of Construction Engineering and Management
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    • v.13 no.3
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    • pp.14-24
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    • 2012
  • Recently, a delivery system has been rapidly changed in the global construction market. Also, construction projects are becoming bigger and more technology-intensive. A lot of projects have been delivered by Design-Build(DB) System; from the standpoint of cost, approximately 40% of delivered constructions by a Public Procurement Service were DB in 2009. Nevertheless, the achievement has not surpassed our expectations on management of the project cost. On the characteristic of DB, the reasons why that happens are that projects contract have been signed after the Design Development Stage; the insufficient review about new technology and up-to-date construction methods; a lack of discussion in process of design. Those reasons cause a risk of increasing Cost of the projects. In order to solve these problems, it is desirable to find Cost-increasing factors in promoting the projects and select on the order of priority for Risk-Factor with careful management. Therefore, this study analyzed the weight of each phase of the project on the authority of properties of DB project, and identified Risk-factors which is increasing the cost on the aspect of project management. Based on this analysis, the impact assessment of Risk-factor is evaluated through the Failure Mode and Effect Analysis(FMEA).

A Study on the Improving Fiscal Capability of Local Government -Focusing on the case of zeroing debt policy in Yong-in city (지방정부 재정역량 제고에 관한 사례 연구 -용인시 채무제로화 정책을 중심으로)

  • Choi, Seonmi
    • The Journal of the Korea Contents Association
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    • v.18 no.3
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    • pp.472-485
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    • 2018
  • The purpose of this study is to analyze debt zeroing policy process of Yong-in city based on the Kingdon's Multiple Stream Framework in order to contribute to strengthening financial capacity and competitiveness of local governments. This study focused on the Yong-in case because the city had a local debt of about KRW 800 billion as of 2012, but it completed the debt repayment in early 2017. The results are as follows. First, policy problem streams are the perception of Yongin City's debt indicator, the failure of the LRT project, and the failure of sale of buildinglots of Yukbuk district. Second, in the political stream, there have been the election of new governors, cooperation of local administration and citizens like budget cut. Third, policy alternative streams are the reduction of large-scale investment projects, the expansion of revenues through the sale of idle shared properties, the increase of tax revenues, and the activation of light rail. As the each streams flowed independently, the window of policy change opened by the revitalization of the real estate market and the sale of buildinglots of Yukbuk distric and combined with other policy factors such as the activation of the light rail. In this process, the role of the policy entrepreneurs such as negotiation and persuasion of the related institutions influenced achieving tight fiscal policy. As a result of this policy output, Yongin City achieved zero debt. This study suggests that it is necessary not only the importance of the role of policy entrepreneurs but also of the administrative and citizen cooperation and the institutional complement such as a large scale of the investment review system.

Study on TV Home Shopping in the Age of broadcast-Communication Fusion (방통융합시대에 TV 홈쇼핑 정책에 관한 연구)

  • Kim, Man-Hwan
    • Journal of Distribution Research
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    • v.16 no.5
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    • pp.19-41
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    • 2011
  • Home shopping is called the flower of future distribution. Among them, for TV home shopping, Korea should lead the industry as an advanced country in IT technology. It is difficult for small and medium businesses, however. This is due to the failure of the policies of Korea Communications Commission. In order to complement such policy failure, this study intends to analyze the preceding domestic studies and foreign status, and reflect such on the policy. Especially the domestic business will be predicted through foreign home shopping status and policy cases, and the items that should be supplemented with governmental policy in order to vitalize small & medium businesses were analyzed; these should be actively reflected by the government. In case of general PP, it already runs on the registration system, and the home shopping channel should also be the same and be committed to the market. The increased number of channels would allow a greater opportunity for small and medium businesses who are the suppliers, and for the consumers, the product prices would be able to be stabilized at an appropriate cost and high quality and diversity of items could be obtained through home shopping, thus improving consumer welfare. If it is difficult to adopt the registration system for home shopping right away, the best alternative is to strengthen the approval system. As home shopping requires a re-approval every 3 years, strengthened re-approval conditions would resolve part of the problem.

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COMPARISON OF MECHANICAL PROPERTIES OF VARIOUS POST AND CORE MATERIALS

  • Ahn Seung-Geun;Sorensen John A.
    • The Journal of Korean Academy of Prosthodontics
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    • v.41 no.3
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    • pp.288-299
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    • 2003
  • Statement of problem: Many kinds of post and core systems are in the market, but there are no clear selection criteria for them. Purpose: The purpose of this study was to compare the flexural strength and modulus of elasticity of core materials, and measure the bending strength of post systems made of a variety of materials. Material and Methods: The flexural strength and elastic modulus of thirteen kinds core buildup materials were measured on beams of specimens of $2.0{\times}2.0{\times}24{\pm}0.1mm$. Ten specimens per group were fabricated and loaded on an lnstron testing machine at a crosshead speed of 0.25mm/min. A test span of 20 mm was used. The failure loads were recorded and flexural strength calculated with the measured dimensions. The elastic modulus was calculated from the slopes of the linear portions of the stress-stram graphs. Also nine kinds commercially available prefabricated posts made of various materials with similar nominal diameters, approximately 1.25mm, were loaded in a three-point bend test until plastic deformation or failure occurred. Ten posts per group were tested and the obtained data were anaylzed with analysis of variance and compared with the Tukey multiple comparison tests. Results: Clearfil Photo Core and Luxacore had flexural strengths approaching amalgam, but its modulus of elasticity was only about 15% of that of amalgam. The strengths of the glass ionomer and resin modified glass ionomer were very low. The heat pressed glass ceramic core had a high elastic modulus but a relatively low flexural strength approximating that of the lower strength composite resin core materials. The stainless steel, zirconia and carbon fiber post exhibited high bending strengths. The glass fiber posts displayed strengths that were approximately half of the higher strength posts. Conclusion: When moderate amounts of coronal tooth structure are to be replaced by a post and core on an anterior tooth, a prefabricated post and high strength, high elastic modulus core may be suitable. CLINICAL IMPLICATIONS In this study several newly introduced post and core systems demonstrated satisfactory physical properties. However when the higher stress situation exists with only a minimal ferrule extension remaining a cast post and core or zirconia post and pressed core are desirable.

A study on the influence of service recovery activities on churning commodities (Focus on the Cable-TV Industry) (서비스 회복활동이 상품전환에 미치는 영향에 관한 연구 (케이블TV산업 중심으로))

  • Kyung, Seung Hyun;Cheong, Ki Ju
    • Journal of Service Research and Studies
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    • v.6 no.3
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    • pp.57-78
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    • 2016
  • The purpose of this research is to study how service recovery activities influence customers' commodity churning in the media telecommunication industry(CATV industry). Put it differently, we tried to identify this change of commodity churning rates by the stages of service failures, by which we intend to emphasize the importance of service recoveries. Korean media telecommunication market has already been saturated; customers tend to move to bigger major companies with better customer care increasingly. As once customers gone never returns, CRM functions are being reinforced over the time. We were able to have the following results. First, turning rates, for those experienced service failure, who were dissatisfied with service recovery activities are 2~5 times (monthly average turning rates are 1.3%) higher than those satisfied. Secondly, active service recovery activities at the customer's service request after experiencing service failure lowered churning rates significantly. The most effective timing is service recovery activities pre-recovery stage. Thirdly, reward activities after service recovery activities at the immediate recovery stage is more effective than service recovery at the arranged recovery schedule and reward activities after customer's expressing churning intension. The implications of this study are that firms should engage in service recovery activities at the time of identifying service failures, prior to customer's expressing churning intention, which means relatively lower ROI for the service recovery activities than the times of customers' expressing churning intention.

Deriving Key Risk Sub-Clauses for EPC/Turnkey Contract Conditions for Overseas Construction Projects - Based on FIDIC Conditions of Contract for EPC/Turnkey Projects, second edition 2017 - (해외건설공사 EPC/Turnkey 계약조건 핵심 리스크 세부조항 도출 - FIDIC Silver Book 2017년 개정판 기준으로 -)

  • Hong, Seong Yeoll;Jei, Jae Yong;Seo, Sung Chul;Park, Hyung Keun
    • Korean Journal of Construction Engineering and Management
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    • v.23 no.6
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    • pp.101-110
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    • 2022
  • Recently, the global construction market is expected to grow at an annual average of 4.8% by 2025 and the risk of overseas construction is also expected to increase accordingly. In particular, domestic construction companies intensively participated in the EPC(Engineering, Procurement, Construction)/Turnkey project, but as a result of failing to respond to contractual risks, they have suffered losses of trillions of won in overseas business since 2013. Nevertheless, there have been not many studies on the derivation of EPC/Turnkey's contractual key risk sub-clauses. Therefore, in this study, the key risk sub-clauses were studied for the conditions of the 2017 Silver Book contract issued by the International Consulting Engineering Federation(FIDIC). To this end, 30 experts with more than 10 years of experience in international construction contracts were formed as a panel to conduct a Delphi survey on 170 sub-clauses of 21 clauses of FIDIC Silver Book to derive 62 main risk sub-clauses. In addition, the RPN(Risk Priority Number) was finally calculated using the FMEA(Failure Mode and Effect Analysis) technique, and 25 key risk sub-clauses within the Critical Risk range were derived. Through the results of this study, the practical point of view is able to refer to the contract provisions to be carefully reviewed at the bidding and contract signing stage in overseas construction projects. From an academic point of view, it provides direction and basic knowledge of how to study the contract fields used in overseas construction EPC/Turnkey projects.

The effect of the ISM Code revision in the shipping industry - Focusing on ship price and hull insurance - (ISM Code 개정이 해운산업에 미치는 영향에 관한 연구 - 선가 및 선박보험에 대한 영향을 중심으로 -)

  • Lim, Sung-Yong;Woo, Su-Han
    • Journal of Navigation and Port Research
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    • v.37 no.1
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    • pp.113-121
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    • 2013
  • IMO(International Maritime Organization) is existed the movement for revising ISM Code so that the maintenance history and the trouble information given trading in a ship can be transferred. An empirical analysis was made on the influence that will have upon shipping industry through surveying on the recognition on ISM Code revision in employees of the relevant field and on the expected problems given being amended ISM Code as the above. In conclusion, the positive effect is judged to be more in the aspect of ship safety, which is the aim of ISM Code, rather than the negative effect, which may take place given being revised ISM Code. In other words, the clean market can be formed through this because fairness is maintained on both sides given trading in a ship by which opening the maintenance record and the trouble history is applied equally to a buyer and a seller. Ships can be reduced a loss of time and cost in preventing similar problems and seeking solution that may appear in important equipments, through this maintenance record. Also, based on these materials, it comes to be available for analyzing a risk of ship and preventing and managing a risk, thereby being increased ability of maintenance and repair in a ship, resulting in being judged to likely contributing to ship safety and environmental-pollution prevention.

Global Entrepreneurial Strategy of Korean Cuisine for Advancing into US Dine out Market (미국외식시장에서의 한식 글로벌 창업전략)

  • Park, Jaewhan;Kim, Jae Hong
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.11 no.3
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    • pp.169-176
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    • 2016
  • Our Korean cuisine, due to growing interests in Korean culture along with outstanding performance of K-pop stars, is attracting worldly attention. As the worldly food pursuit tendency is changing from"fast food" to "slow food", preference for our Korean cuisine, which is well-known for its healthiness, is growing. However, our Korean cuisine, in terms of the world citizen's preference, as receiving evaluation for being lacking behind of Sushi of Japan, Dimsum of China, pizza and pasta of Italy, rice noodle of Vietnam, even to Indonesian and Middle-East foods, has not been achieving drastic advancements despite the cosmopolitan's attention. The previous studies were suggesting that, failure of a localization strategy that changes our traditional taste and aroma adaptive to foreigners' preference, is a cause for this. This study, through case studies of Korean food businesses in the US which have achieved a success through localization strategy, attempts to propose the following global entrepreneurial strategy of Koran food at the US dining out market. As a global entrepreneurial strategy for success, we propose, first a sales strategy not for Koreans but for local people as main customers, second a customization strategy which is not our traditional way but that meets local standard, and finally a committed entrepreneurship.

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An Exploratory Case Study on the Operation of Internet Shopping Malls for Small-and-Medium Sized Firms (중소기업 인터넷 쇼핑몰 운영에 관한 탐색적 사례 연구)

  • 정영수;정상철;한재용
    • Journal of Information Technology Application
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    • v.3 no.2
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    • pp.103-132
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    • 2001
  • The internet-based business is considered as a new strategic alternative for small-medium size companies. However, very little research about them has been reported. The objectives of this study are to analyze factors influencing the operation for the sites(we call, 'internet shopping mall') which small-and-medium sized firms have built, and to provide the general directions of the successful internee-based business for the small-and-medium sized firms. This paper reports the case studies in which the internet-based electronic commerce practices of 6 small-and-medium sized firms were examined over a 3 month period. In the meantime, this paper reports their present business condition, system environment, positioning, marketing strategy, forward business expectation, and market barrier. This study also focuses on two environmental dimensions of system development; One dimension is on-line only or off-line widened, and the other is self-built or outsourcing. The results found in this study are as follows: 1. The internet shopping mall broadens the company's activity to new business areas. 2. The degree of system outsourcing of the small-medium size company depends on its IT ability and resource capability 3. The marketing strategies on their internet shopping mall differentiate with their business area and market environment. 4. Each interviewed company has its own success and failure factors, in addition to the general factors. 5. Each interviewed company has a positive response for their internet shopping mall for its future. 6. The lack of capital, technology, and government support is the barrier to the improvement of the internet shopping mall system.

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The Success Factors and Strategy of Social Network Online Game in Korea: A Case Study of Nexon (국내 Social Network Online Game(SNOG)의 성공 요인 및 전략: Nexon 사례 연구)

  • Yoo, Byung-Joon;Kim, Kwan-Soo
    • Journal of Korea Game Society
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    • v.11 no.6
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    • pp.127-138
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    • 2011
  • The creation and interchange of information through the Internet network forms online community and makes Social Network Game (SNG) as a new entertainment by grafting it onto the most popular online games. SNG means the service which amalgamates social network service (e.g., Facebook, Twitter, etc) strong points and the fun of online game. It promotes the intimacy of relation between the friends above social network service and the gaming amusement for users. The domestic SNG market is currently fast changing according to the smart environment which is quickly shifted. The existing online game field will continuously maintain a market size. SNOG will be more developed because it is competitive from the business perspective of managing cost and production cost when compares with the existing online game. In relation to Facebook, Twitter, etc. overseas SNS platform base SNOG service, the domestic competition for launching SNG is expected to heat up as NHN, Daum and SK Communication introduce open type SNS. This study examines the successful factors and strategy for domestic SNOG by studying the case of MapleStory Adventures successful possibility. The possible successful factors are combing SNS on the existing popular online game, marketing through the existing users, and solving the platform problem of a failure factor of NexonStar. This case study is expected to contribute to the domestic SNOG industry development by providing several implications for the successful factors and strategy of SNOG which will be continuously developed.