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Probe Study on the Failure Factors of Venture Companies (벤처기업의 부실요인에 대한 탐색적 연구)

  • Lee, Hoon;Hong, Jae-Bum
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.12 no.1
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    • pp.25-31
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    • 2017
  • The objective of this study is to find the failure factors of venture companies. We analyze 210 troubled venture companies, all of which have been under guarantee from the Korea Technology Finance Corporation over the last three years. Methods of analysis for failure factors are as follows. First, we categorize the failure factors into the four different types based on growth and profitability indicators in the financial statements of targeted venture companies. Then we analyzed the failure factors of the subject companies based on the troubled guarantee reports made by the Korea Technology Finance Corporation. If a venture company under its guarantee program falls into insolvency, the Korea Technology Finance Corporation make the troubled guarantee report to find out the failure factors and evaluate the recovery potentials. We identify 374 failure factors of venture companies through the analysis. The most prominent among them are deteriorating of business environments (79 factors) and decreasing or withdrawing orders from major suppliers (54 factors) due to bankruptcies or change in business plans. They are followed by slowing collection of accounts receivable (31 factors), dropping or frozen product price (24 factors) due to intensifying competition and escalating pressures from major suppliers, rising raw material costs both at home and abroad (21 factors). In addition, the nuclear power plant disaster in Japan, shut-down of the Kaesong Industrial Complex and subsequent lawsuits, delay in technology development projects, high cost-low efficiency management structure, etc., are also revealed as new factors causing trouble for venture companies.

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Correlation between Ethical Factors and Their Competitiveness of Small and Medium Enterprises (중소기업의 윤리적 특성요인과 기업경쟁력 간의 관계)

  • Lee, Byeong-Seop;Jeon, In-Oh
    • The Journal of the Korea Contents Association
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    • v.8 no.6
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    • pp.175-185
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    • 2008
  • This study would be research for correlations between ethical factors and company's competitiveness of small and medium enterprises thorough recognizing of important company ethic and approaching to them theoretically. This study has collected all information which small and medium enterprises around Seoul and Kyounggi province and employing more than 5, which 134- survey are used totally. Study reveals that firstly customer and social responsibility provide Positive effects on the organization Dust, secondly CEO's views serve those positive effects as well, thirdly it is not preyed that ethical capacity of company have a positive effect on organization trust. Fourthly, organization trust has good effects on competitiveness of product and price. This results lead to some suggestions as follows. First of all, company should serves systemized value to customers and their societies. For that, it is necessary to analyse their needs and to reflect them into corporate management to build close relationship with customers and reliable marketing activities, efforts to enhance corporate images. This chain of work can make employees feel proud themselves. Secondly, supervisors including CEO should set the pace with high-consensus for ethical behaviour. Thirdly, ethical factors should be improved for improving organization trust simultaneously. Every customer, no matter they are inner or outer, should have highly required ethical understandings for their networks. Furthermore, they have to enhance organization trust and to strengthen company competitiveness through stimulating employee's courages and contribution.

The Effects of Export Small and Medium Enterprises' Marketing Mix on Marketing Performance (수출 중소기업의 마케팅믹스요인이 마케팅성과에 미치는 영향)

  • Fan, Qing-ji;Kim, Won-Kyum;Maeng, Bu-Young
    • Proceedings of the Korea Contents Association Conference
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    • 2011.05a
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    • pp.135-136
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    • 2011
  • It is very crucial that small and medium-sized enterprises, called SMEs, should play a pivotal role in creating jobs and contributing to export. Day by day under the influence of the increment globalization of the world market and the rapid changes of business environment, our country has been heavily dependent on export to the foreign countries. Therefore, both enterprises' Marketing Mix such as Product, Price, Place and Promotion and global competitiveness are essential elements to raise the volume of export. The purpose of this research is to find out the relationships between Marketing Mix and Marketing Performance. The considerable number of 338 domestic export SMEs was surveyed to verify the hypothesis and research model through a covariance structure analysis via AMOS 18.0, accompanied by the confirmatory factor analysis to prove suggested potential variables. After the strenuous empirical analysis, the relationship between marketing mix elements and marketing performance, the place and promotion element of 4Ps' Mix proved to have a postive impact on marketing performance. This research focused on Marketing Mix as major elements in marketing performance. Theoretical and practical implications are generated to help both enterprises and policy-makers that cover comprehensive government policies for SMEs.

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Measuring the Maximum Social Welfare Effects of Outlook Information Service for Fruits Sector in Korea (과일류 관측의 최대 사회후생 효과 계측)

  • Kim, Bae-Sung
    • Journal of the Korea Academia-Industrial cooperation Society
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    • v.15 no.11
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    • pp.6646-6651
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    • 2014
  • This study was carried out to find the social welfare effects of agricultural outlook information service for fruit in Korea. The goals of an agricultural outlook information service are to improve the efficiency of the agricultural product market, and stabilize the farmer's income and consumer price. This paper introduces the results of econometric analysis for the effects of social welfare benefits. According to the results of econometric analysis for the citrus industry, the effects of the social welfare benefits were estimated to be 15,228 million KRW on apples (ratio of the total revenue, 1.5%), 3,154 million KRW on pears (ratio of the total revenue, 1.8%), 1,936 million KRW on peaches (ratio of the total revenue, 0.9%), 5,211 million KRW on grapes (ratio of the total revenue, 1.0%), 44,976 million KRW on citrus (ratio of the total revenue, 5.4%), and 2,590 million KRW on sweet persimmon (ratio of the total revenue, 0.8%) in 2012.

A Field test of an Integrated Electronic Block System for verification of the suitability (통합형 전자폐색제어장치의 적합성 확인을 위한 현장시험)

  • Kim, Young-June;Baek, Jong-Hyen
    • Journal of the Korea Academia-Industrial cooperation Society
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    • v.14 no.12
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    • pp.6427-6433
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    • 2013
  • For trains to run safely and quickly, the train should always follow the preceding train at a proper spacing. For this purpose, a certain distance between the stations is set for each block section. For the safe operation of trains in one block section, only one train service for an automatic block system is needed. The existing block system is composed an ABS, which is a linked track circuit and line sideway system through the interlocking system. The interlocking system is being replaced with a domestic electronic interlocking system. On the other hand, the block system still uses the relay format of an analog system, and is independently installed of the line sideway systems. Therefore, the existing block system has many problems in terms of construction and maintenance. In addition, the existing domestic line is used for ABS and LEU , which is installed separately, despite the train being controlled by the information of the same signal at the same location. This is not efficient in terms of each product price and the maintenance costs. This paper introduces an integrated electronic block system and the field test results. The field test was carried out through a periodic inspection performed eight times from January to late August.

The Consumers' Consciousness toward the Import Liberalization of Agricultural Products - A peculiar case study about Consumers in Taegu.Kyungpook Area - (농산물(農産物) 수입개방(輸入開放)과 소비자(消費者) 의식(意識) - 大邱(대구).경북지역(慶北地域) 소비자(消費者)들에 대한 사례조사(事例調査)를 중심(中心)으로 -)

  • Lee, Ho Chol;Yu, Byung Gyu;Kim, Doo Han
    • Current Research on Agriculture and Life Sciences
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    • v.9
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    • pp.71-86
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    • 1991
  • This study has tried to illuminate a shocking phenomenon, the import liberalization of agricultural products in the aspect of Consumer consciousness. It has been applied that Table Analysis by using computer programming for instance-MINITAB, and Correlation Analysis and Multiple Regression Analysis, things like that. The results of this study are as follows; 1. Comparing domestic and imported stuffs, Comsumers came to awareness that domestic products superior to foreign's in the cases of the degree of freshness, taste and pollution damage, in the meanwhile, inferior to the cases of price and wrapping. Food self-supplyment is considered as one of the most important things of all, moreover, by most comsumers and health food and conventional food are favored by high class people. 2. Bying imported stuffs could clearly be fatal blow to our agriculture is fully recognized among consumers, what is more, there would only be doomed to our agriculture, too. 3. The most mass-purchasing imported stuffs by consumers illustrates in order; Beef, Banana, Coffee and Tabacco etc. The most significant elements why consumers buy foreign product is that the prices of them are relatively lower than those of ours. Besides, the next causes lies to non-producing stuffs and curiosity. 4. It must've been generally conceived by most consumers that Open-the-market-policy has been progressed for USA's repression and our monopolistic capital. Therefore, they demand that our market should be contained against unadviciable wave, moreover, keep paying attention to the policy how it will work to protect Korean agriculture. 5. Consumer attitude toward buying imported agricultural products is double-faced, Never-buy occupied only 24.4 % among respondents, but overwhelming respondents say non-producing stuffs can be obtained selectively. In this case, however, never-buy-movement would be backed by consumers in proportion to their educational background. 6. Various consumer minds surrounding Open-the-market-situation, in the end, has been analized econometrics through eleven variables to approach accurate fulfillments.

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Research about Lighting Fixtures Development to the 300W Class PLS (300W급 광원을 이용한 조명기기디자인개발에 관한 연구)

  • Hwang Min-Ku;Shin Hyeon-Jeong;Yun Bong-Shik
    • The Journal of the Korea Contents Association
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    • v.5 no.3
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    • pp.103-111
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    • 2005
  • By international lighting market's growth and domestic landscape lighting market's growth, the latest lighting market is activated. But, They are doing price competition that domestic lighting technology and development technology of lighting fixtures design do not possess international competitiveness than these change. Specially, as image of area and the country can be influenced greatly by cityscape at present visual point that many interests are converged country and identity establishment of local government, many cities are using force hereupon. Constructs which cityscape is various including natural ecology area of life environment gather and are done Image creation and this people's consciousness and culture living soon inside thing which do speaking by proxy be. Than city's night view nature lighting more than by spectacle lighting along with life lighting to basis materialize can. It is meaning more than thing that fine view of city becomes beautiful simply that night view of city becomes superior, that means that city efficiency and quality of life are exalted by a word. Wish to establish effective lighting technology and new product design process through PLS lighting technical development and 300 W lighting fixtures design development hereupon, and raise domestic spectacle lighting market's localization and domestic lighting market's competitive power furthermore.

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Research Trend of Lactulose Production from Lactose (젖당(Lactose)으로부터 락툴로오스(Lactulose) 생산을 위한 연구 동향)

  • Lee, Ja Hyun;Yoo, Hah Young;Jung, Da Un;Park, Charnho;Song, Yoon Seok;Park, Chulhwan;Kim, Seung Wook
    • Korean Chemical Engineering Research
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    • v.52 no.4
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    • pp.407-412
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    • 2014
  • Lactulose is well known for functional component in the food and pharmaceutical field and utilized in a wide variety of foods as a bifidus factor or functional ingredient for intestinal regulation. Lactulose synthesis can be classified into chemical and biological methods. In chemical methods, lactulose is synthesized by alkaline isomerization, but it has many disadvantages such as including product purification, lactulose degradation, side reactions and waste management. Therefore, the enzymatic synthesis methods were recently studied to solve these problems. ${\beta}$-galactosidase is a important enzyme in the dairy industry, because of the production of lactose-hydrolyzed products. Also, ${\beta}$-galactosidases can be utilized to synthesize lactulose from lactose by a trans-galactosylation reaction, using fructose as a galactosyl acceptor. However, the synthesis of lactulose from lactose is economically not suitable due to high levels of lactose price. This review summarizes the current state of lactulose production by chemical and biological processes.

Exploratory Study on Buyer-Supplier Relationship in Dongdaemun Market: From Buyer Perspectives of Fashion Stores (동대문시장의 구매자-공급자 관계에 관한 탐색적 연구: 동대문 패션 점포의 구매자적 시각을 중심으로)

  • Jung, Ji-Wook;Choo, Ho-Jung;Chung, Ihn-Hee
    • Journal of Global Scholars of Marketing Science
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    • v.17 no.1
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    • pp.51-75
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    • 2007
  • Dongdaemun fashion market has been successfully positioned as a main hub for non-brand fashion product distribution in Korea. One of important competitive advantages of Dongdaemun market often quoted by retail researchers is an efficiently managed network system among supply chain members. This study aimed to examine the importance of buyer-supplier relationship elements and supplier properties from buyers' perspectives (small & very small-sized fashion stores in Dongdaemun market), and to identify the determinants of the relationship length between suppliers and buyers. Survey responses of 233 stores were analyzed using EQS 6.1 for Window and SPSSWIN 10.0. The findings could be summarized as follows: First, fashion stores perceived that right delivery as the most important factor, and geographically closeness, design capability, quality, and lower price followed in order. Second, the characteristics of stores such as location, wholesaling versus retailing focusing, monthly sales, and total business length all affected the perceived importance of buyer-supplier relationship. Third, design capacity, communication, power was identified as determinants of actual relationship length with a supplier, while communication and trust were found to be determinants of future expected relationship length.

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A Study on the Development and Activation of Marina Port for the Expansion of the Marine Leisure Sports (해양레포츠 확산을 위한 마리나항만 개발과 활성화 전략)

  • Kim, Hong-Seop
    • Journal of Korea Port Economic Association
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    • v.29 no.1
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    • pp.215-245
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    • 2013
  • In this world, the interest in the marine leisure-sports, nature friendly oriented, has been increased. The width of leisure activities has became enlarged because of expansion of leisure time and the changes of recognition on the rational management and use of marine resources. Marina ports influence significantly marine leports and this paper reviewed the maria ports status and problems. This Country has strived to develop marina ports in local areas, designing the 1st basic National Plan of Marina Development. We have keen interest in Marina but have no detail strategy and preparation. This paper suggested how marina port shall be developed for the expansion of marine leports and what strategies shall be adopted for the activation of the facilities. After reviewing the previous researches and with the results of questionnaire survey, this paper suggested two types strategies. First on the policy oriented point, it suggested 10 alternatives on the perspectives of development and operation areas. Secondly, it proposed some strategies for the activation of marina ports on the aspects of 4Ps of marketing. This paper theoretically groped the activation schemes with the knowledge and experiences of experts, but it is recommended furthermore some survey on the practical field and user attitude must be progressed.