• 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.

• Journal of the Korea Society of Computer and Information
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• v.17 no.1
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• pp.171-181
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• 2012

This paper defines the AES password algorithm used as a symmetric-key-based password algorithm, and proposes the design of parallel password algorithm to utilize the resources of multi-core processor as much as possible. The proposed parallel password algorithm was confirmed for parallel execution of password computation by allocating the password algorithm according to the number of cores, and about 30% of performance increase compared to AES password algorithm. The encryption/decryption performance of the password algorithm was confirmed through binary comparative analysis tool, which confirmed that the binary results were the same for AES password algorithm and proposed parallel password algorithm, and the decrypted binary were also the same. The parallel password algorithm for multi-core environment proposed in this paper can be applied to authentication/payment of financial service in PC, laptop, server, and mobile environment, and can be utilized in the area that required high-speed encryption operation of large-sized data.

• Korean Medical Education Review
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• v.21 no.1
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• pp.41-50
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• 2019

The aim of this study is to analyze the current status and performance evaluation systems of faculty in Korean medical colleges and professional graduate medical schools (called medical schools). We developed a research tool based on previous studies and distributed it to 40 medical schools from July to October 2017. The response rate was 100%. We calculated the number of faculty members and analyzed the faculty evaluation systems and awareness according to national and private medical schools. As of 2017, the number of medical faculty in Korea was 11,111 (4,973 faculty were employed by their alma mater, which is 44.76% of the total), with non-medical doctor faculty accounting for 754 of the total. The medical schools reflect research achievements as most important for re-appointment and screening to promote faculty, and the area of education is secondary excepting clinical faculty of private medical schools. However, important issues in the faculty evaluation deal with the relevance of research achievement and the need for qualitative assessment. Some medical schools revised or have been revising the faculty evaluation system in areas such as minimum standards of education for promotion and separation of promotion and tenure review. Opening non-tenure track lines for faculty show positive effects such as increasing the number of positions for hire and easing the financial burdens of medical schools. Downfalls include inconsistencies between the responsibilities and actual practices of tenure not being available and the instability of faculty's status. In conclusion, medical schools need to prepare a faculty evaluation system that fits the position of faculty members and attempt to establish a reasonable compensation system.

• Asia pacific journal of information systems
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• v.17 no.4
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• pp.207-228
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• 2007

Measuring Information Technology(IT) organizations' activities have been limited to mainly measure financial indicators for a long time. However, according to the multifarious functions of Information System, a number of researches have been done for the new trends on measurement methodologies that come with financial measurement as well as new measurement methods. Especially, the researches on IT Balanced Scorecard(BSC), concept from BSC measuring IT activities have been done as well in recent years. BSC provides more advantages than only integration of non-financial measures in a performance measurement system. The core of BSC rests on the cause-and-effect relationships between measures to allow prediction of value chain performance measures to allow prediction of value chain performance measures, communication, and realization of the corporate strategy and incentive controlled actions. More recently, BSC proponents have focused on the need to tie measures together into a causal chain of performance, and to test the validity of these hypothesized effects to guide the development of strategy. Kaplan and Norton[2001] argue that one of the primary benefits of the balanced scorecard is its use in gauging the success of strategy. Norreklit[2000] insist that the cause-and-effect chain is central to the balanced scorecard. The cause-and-effect chain is also central to the IT BSC. However, prior researches on relationship between information system and enterprise strategies as well as connection between various IT performance measurement indicators are not so much studied. Ittner et al.[2003] report that 77% of all surveyed companies with an implemented BSC place no or only little interest on soundly modeled cause-and-effect relationships despite of the importance of cause-and-effect chains as an integral part of BSC. This shortcoming can be explained with one theoretical and one practical reason[Blumenberg and Hinz, 2006]. From a theoretical point of view, causalities within the BSC method and their application are only vaguely described by Kaplan and Norton. From a practical consideration, modeling corporate causalities is a complex task due to tedious data acquisition and following reliability maintenance. However, cause-and effect relationships are an essential part of BSCs because they differentiate performance measurement systems like BSCs from simple key performance indicator(KPI) lists. KPI lists present an ad-hoc collection of measures to managers but do not allow for a comprehensive view on corporate performance. Instead, performance measurement system like BSCs tries to model the relationships of the underlying value chain in cause-and-effect relationships. Therefore, to overcome the deficiencies of causal modeling in IT BSC, sound and robust causal modeling approaches are required in theory as well as in practice for offering a solution. The propose of this study is to suggest critical success factors(CSFs) and KPIs for measuring performance for IT organizations and empirically validate the casual relationships between those CSFs. For this purpose, we define four perspectives of BSC for IT organizations according to Van Grembergen's study[2000] as follows. The Future Orientation perspective represents the human and technology resources needed by IT to deliver its services. The Operational Excellence perspective represents the IT processes employed to develop and deliver the applications. The User Orientation perspective represents the user evaluation of IT. The Business Contribution perspective captures the business value of the IT investments. Each of these perspectives has to be translated into corresponding metrics and measures that assess the current situations. This study suggests 12 CSFs for IT BSC based on the previous IT BSC's studies and COBIT 4.1. These CSFs consist of 51 KPIs. We defines the cause-and-effect relationships among BSC CSFs for IT Organizations as follows. The Future Orientation perspective will have positive effects on the Operational Excellence perspective. Then the Operational Excellence perspective will have positive effects on the User Orientation perspective. Finally, the User Orientation perspective will have positive effects on the Business Contribution perspective. This research tests the validity of these hypothesized casual effects and the sub-hypothesized causal relationships. For the purpose, we used the Partial Least Squares approach to Structural Equation Modeling(or PLS Path Modeling) for analyzing multiple IT BSC CSFs. The PLS path modeling has special abilities that make it more appropriate than other techniques, such as multiple regression and LISREL, when analyzing small sample sizes. Recently the use of PLS path modeling has been gaining interests and use among IS researchers in recent years because of its ability to model latent constructs under conditions of nonormality and with small to medium sample sizes(Chin et al., 2003). The empirical results of our study using PLS path modeling show that the casual effects in IT BSC significantly exist partially in our hypotheses.

• Journal of the Korean association of regional geographers
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• v.12 no.1
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• pp.154-171
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• 2006

By comparing to Chinese American banks, this research shows the uniqueness of Korean American banks. This article argues that instead of the cultural attributes and/or informal financial institutions, formal financial institutions, such as the ethnic banks studied here, are responsible for the business success of Asians abroad. However, ethnic banks have different development trajectories depending on their respective ethnic communities. Korean American banks are notably different from Chinese American banks in terms of growth, profitability, and banking strategies. Although both ethnic banks exercise relationship banking strategies in their loan portfolios, their deposit compositions are very different and cause significant differences in financial performance. The focus on business loans and high rates of non-interest deposits allow for higher growth rates in Korean American banks. Therefore, relationship banking does not adequately explain the differences of ethnic banks. This research attempts to understand the underlying factors in choosing banking strategies by mainly focusing on the unique examples found in Korean and Chinese immigrant societies. For Chinese Americans, the heterogeneity of their population composition and foreign influence dominate their bank structures. On the other hand, Korean American homogeneity and business orientation are distinctly different. The influence of Korean capital is not significant when compared to overseas Chinese capital.

• Korea Trade Review
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• v.48 no.4
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• pp.263-283
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• 2023

Companies must strengthen core competencies by concentrating resources to secure a competitive edge and operate efficient processes from a company-wide perspective. To this end, it is seeking to concentrate its capabilities and reduce costs by pooling non-essential tasks or facilities that require a lot of time and capital at a strategic level. Therefore, logistics companies should actively utilize logistics coorperate system in order to maximize the use of logistics resources according to the limitations of human resources, physical resources, and time. This study is an empirical analysis of the strategy of logistics companies and the impact of logistics coorperate on corporate performance, and a survey and analysis was conducted on domestic logistics companies. The results of the empirical analysis showed that the cost·relationship·information-oriented strategy of logistics has a positive(+) effect on the financial·operation·strategic performance indicators of companies through logistics coorperate. The results derived from this paper will be used as an important determining factor in establishing a logistics strategy and logistics coorperate to improve the performance of logistics companies and logistics service companies.

• Journal of Korea Technology Innovation Society
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• v.20 no.2
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• pp.292-312
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• 2017

The purposes of this research are to verify: first, if the technology appraisal model reflects the company's management performance and the rates of bankruptcy and overdue; second, if the existing classification system of technology levels is suitable; and third, which is the most important appraisal factor that defines the classification system of technology levels. As a result of the analysis, financial performance (stability) and non-financial performance (technology environment) proved to be significant variables in explaining technology ratings. According to the verification of the suitability of classification system, it appeared that there is a significant difference in all appraisal items of all groups. The result of neural networks model verification indicates that the most important variable was the R&D capacity, the second variables which determine the suitability of technology financing were indicators related to the company management. The second variables which determine a company's technological excellence were a company's technological base. To summarize, the technology appraisal model not only reflects both managerial performance and risks of a company, but also anticipates the future by converging the management competence and technological competitiveness into R&D capacity. This implies that if the 'forward-looking' technology appraisal model is integrated into the existing, credit rating model, the appraisal model may have positive impact on improving anticipation and stability.

• Management & Information Systems Review
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• v.22
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• pp.137-165
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• 2007

It seems high time to increase productivity by adopting e-business to overcome challenges posed by both external factors including the appreciation of Korean won, oil hikes and fierce global competition and domestic issues represented by disparities between large corporations and small and medium enterprises (SMEs), Seoul metropolitan and local cities, and export and domestic demand all of which weaken future growth engines in the Korean economy. The demands of the globalization era are for innovative changes in businessprocess and industrial structure aiming for creating new values. To this end, e-business is expected to play a core role in the sophistication of the Korean economy through new values and innovation. In order to examine business performance in e-business-adopting industries, this study analyzed the home shopping industry by closely looking into the financial ratios including the ratio of net profit to sales, the ratio of operation income to sales, the ratio of gross cost to sales cost, the ratio of gross cost to selling, general and administrative (SG&A) expense, and return of investment (ROI). This study, for best outcome, referred to corporate financial statements as a main resource to calculate financial ratios by utilizing Data Analysis, Retrieval and Transfer System (DART) of the Financial Supervisory Service, one of the Korea's financial supervisory authorities. First of all, the result of the trend analysis on the ratio of net profit to sales is as following. CJ Home Shopping has registered a remarkable increase in its ratio of net profit rate to sales since 2002 while its competitors find it hard to catch up with CJ's stunning performances. This is partly due to the efficient management compared to CJ's value of capital. Such significance, if the current trend continues, will make the front-runner assume the largest market share. On the other hand, GS Home Shopping, despite its best organized system and largest value of capital among others, lacks efficiency in management. Second of all, the result of the trend analysis on the ratio of operation income to sales is as following. Both CJ Home Shopping and GS Home Shopping have, until 2004, recorded similar growth trend. However, while CJ Home Shopping's operating income continued to increase in 2005, GS Home Shopping observed its operating income declining which resulted in the increasing income gap with CJ Home Shopping. While CJ Home Shopping with the largest market share in home shopping industryis engaged in aggressive marketing, GS Home Shopping due to its stability-driven management strategies falls behind CJ again in the ratio of operation income to sales in spite of its favorable management environment including its large capital. Companies in the Group B were established in the same year of 2001. NS Home Shopping was the first in the Group B to shift its loss to profit. Woori Home Shopping has continued to post operating loss for three consecutive years and finally was sold to Lotte Group in 2007, but since then, has registered a continuing increase in net income on sales. Third of all, the result of the trend analysis on the ratio of gross cost to sales cost is as following. Since home shopping falls into sales business, its cost of sales is much lower than that of other types of business such as manufacturing industry. Since 2002 in gross costs including cost of sales, SG&A expense, and non-operating expense, cost of sales turned out to have remarkably decreased. Group B has also posted a notable decline in the same sector since 2002. Fourth of all, the result of the trend analysis on the ratio of gross cost to SG&A expense is as following. Due to its unique characteristics, the home shopping industry usually posts ahigh ratio of SG&A expense. However, more than 80% of SG&A expense means the result of lax management and at the same time, a sharp lower net income on sales than other industries. Last but not least, the result of the trend analysis on ROI is as following. As for CJ Home Shopping, the curve of ROI looks similar to that of its investment on fixed assets. As it turned out, the company's ratio of fixed assets to operating income skyrocketed in 2004 and 2005. As far as GS Home Shopping is concerned, its fixed assets are not as much as that of CJ Home Shopping. Consequently, competition in the home shopping industry, at the moment, is among CJ, GS, Hyundai, NS and Woori Home Shoppings, and all of them need to more thoroughly manage their costs. In order for the late-comers of Group B and other home shopping companies to advance further, the current lax management should be reformed particularly on their SG&A expense sector. Provided that the total sales volume in the Internet shopping sector is projected to grow over 20 trillion won by the year 2010, it is concluded that all the participants in the home shopping industry should put strategies on efficient management on costs and expenses as their top priority rather than increase revenues, if they hope to grow even further after 2007.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.7 no.4
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• pp.113-122
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• 2012

A success of opening a business should be supported with complete preparations and implementation. While there have been various educational programs for opening a business to support its success, there have not been a lot of studies on the relationships between educational programs and operational performance in small businesses, due to the difficulties of empirical survey. In this point, this study attempts to understand the relationships between preparation of opening a business and operational performance, while dividing samples into two groups (1. a group completing educational programs for opening a business, 2. a group non-completing). For the perspectives of the preparation of opening a business, various success factors have been suggested through various studies, but the perspectives and approaches of balanced business operation have been required. Therefore, using BSC, it developed a framework with the four perspectives of preparation for opening a business, and empirically reviewed the relationships between the four perspectives and operational performances in small businesses. It conducted a survey on the total 252 samples, whose business periods are less than 5 years. As the results, the preparations of financial and customer/marketing perspectives have significant relationships between operational performances in total samples, preparations of financial, customer/marketing, and growth-strategies perspectives in the educational program completing group and only preparation of financial perspectives in the non-completing group have significant relationship with operational performances. The differences between the two groups may imply that educational programs for opening a business may be helpful for preparation of opening a business and have some possibility of direct and indirect effects for the success of opening a business. Also, the developed BSC based-preparation framework for opening a business is meaningful for the view of balanced business operations, and can contribute to develop the educational programs for opening a business.

• Journal of Korea Port Economic Association
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• v.25 no.4
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• pp.299-320
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• 2009

This paper firstly aims to classifying the applicability of the Balanced Scorecard approach to Korean ocean-going shipping firms' management system. The applicability of this approach is from Korean shipping firms using Balanced Scorecard will create more effective and efficient organizational performance with reflecting non-financial indexes and making a balance among missions in organization. Secondly, the paper suggests positive information and theoretical evidences to improve Korean shipping firms' management system examines an availability of the Balanced Scorecard as one method of management tools. So these factors are analysed by structural equation model. This study provides CEO in Korean ocean-going shipping firm the guideline and availability of the Balanced Scorecard as to what kinds of factors should be considered and what is the most critical factor to adopt the BSC into their business.