• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.17 no.3
• /
• pp.103-117
• /
• 2022

The recent corporate economy, such as the COVID 19 pandemic that has spread all over the world since the beginning of 2020, the acceleration of the 4th industrial revolution, and supply chain management risks triggered by the US-China conflict and the Ukraine crisis, is more serious than ever before. CEOs who have started and managed small and medium-sized enterprises (SMEs) are more concerned than ever about the sustainability of their businesses in this reality. Nevertheless, there were few empirical studies on the factors that influence the intention of SME CEOs to discontinue business. In this study, the perception of the business environment of SMEs (intensity of competition in key business areas, difficulty in manpower management), corporate competency (employee competency, company product or service competitiveness, supply chain and consumer relations, digital competency and technical expertise), and CEO's competency(trust between employees and the CEO, management competency and perceived health status of CEO) on CEO's intention to discontinue business was discussed. As a result of the study, the intensity of competition in the main business field, and the difficulty in manpower management had a positive (+) effect on the intention to discontinue the business, and the employee competency, product (service) competitiveness, digital competency of the company, and the CEO's Health status had a negative (-) effect on intention to discontinue business. The relationship between these influences was found in the order of CEO's health status, product competitiveness, employee competency, digital competency, competitive strength in the main business, and difficulty in manpower management. It was analyzed that supply chain and consumer relations, trust between employees and the CEO, and management capabilities did not significantly affect the intention to discontinue business. On the other hand, business confidence has a mediating effect between the intensity of competition in the main business field, the difficulty in manpower management, product or service competitiveness, digital competency, trust between employees and the CEO, and the management capability and intention to discontinue business was tested. This study had academic significance in that it empirically analyzed factors related to intention to discontinue business targeting small and medium-sized business CEOs. In practice, as it has been found that business environment awareness, corporate competency, managerial competency, and business confidence are factors that influence the intention to discontinue business, if an action ideas that can reinforce this part can be found, SMEs can achieve sustainable growth or it may help CEO find an meaningful exit.

• Cartoon and Animation Studies
• /
• s.33
• /
• pp.597-616
• /
• 2013

Character industry is not only knowledge-based industry chiefly with copyrights but also motive power for creative economy to take a role functionally over the fields of industries because it has industrial characteristic as complement product to promote sale value in manufacturing industry and service industry and increase profit on sales. Since 2003, the national policy related to character has aimed to maximize effect among connected industries, extend its business abroad, enforce copyrights through the improvement of marketing system, develop industrial infrastructure through raising quality of character products. With the result of this policy, the successful cases of connected contents have been crystallized and domestic character industry has stepped up methodically since 2007. It is needed to reset the scales of character industry and industrial stats because there are more know-how of self industry promotion and more related characters through strategy of market departmentalization starting with cartoon, animation, games, novels, movies and musicals. Especially, The Korea government set our target for 'Global Top Five Character Power' since 2009 and has started to carry out to find global star characters, support to establish network among connected industries, diversify promotion channels, and develop licensing business. Particularly, since 2013, There have been prospered the indoor character theme park with time management just like character experimental marketing or Kids cafes using characters, the demand market of digital character focusing on SNS emoticon, and the performance market for character musical consistently. Moreover, The domestic and foreign illegal black markets on off-line have been enlarged, so we need another policy alternative. To prepare for the era of exploding character demand market and diversifying platform, it is needed to set up a solid strategy that is required the elements of policy changes in character industry to vitalize character industry and support new character design and connected contents. the following shows that the elements of policy changes related to the existing policy, the current position of market. Nowadays, the elements of policy changes in domestic character industry are that variety of consumers in the digital character market according to platform diversification, Convergence contents of character goods for the Korean waves, legalization of the illegal black contents market, and controling the tendency of consumers in departmentalized market. This can help find the policy issue entirely deferent with the existing character powers like US, Japan or Europe. In its final analysis, the alternatives are the promotion of models with contract copyrights of domestic and foreign connected contents, the diversification of profit models of platform economy, the additive development of target market related to enlarging the Korean waves, and the strategy of character market for the age-specific tendency according to developing character demand market.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.2 no.4
• /
• pp.71-102
• /
• 2007

There were many comprehensive analyses conducted within the existing research activities wherein factors affecting technology progress including investment in R&D vis-${\Box}$-vis their influences act as the determinants of TFP. Note, however, that there were few comprehensive analysis in the industrial research performed regarding the impact of the economy of scale as it affects TFP; most of these research studies dealt with the analysis of the non -parametric Malmquist productivity index or used the stochastic frontier production function models. No comprehensive analysis on the impacts of individual independent variables affecting TFP was performed. Therefore, this study obtained the TFP increase rate of each industry by analyzing the factors of the existing growth accounting equation and comprehensively analyzed the TFP determinants by constructing a comprehensive analysis model considering the investment in R&D and economy of scale (smallness by industry) as the influencers of TFP by industry. First, for the TFP increase rate of the 15 industries as a whole, the annual average increase rate for 1993${\sim}$ 1997 was approximately 3.8% only; during 1999${\sim}$ 2000 following the foreign exchange crisis, however, the annual increase rate rose to approximately 7.8%. By industry, the annual average increase rate of TFP between 1993 and 2000 stood at 11.6%, the highest in the electrical and electronic equipment manufacturing business and IT manufacturing sector. In contrast, a -0.4% increase rate was recorded in the furniture and other product manufacturing sectors. In the case of the service industry, the TFP increase rate was 7.3% in the transportation, warehousing, and communication sectors. This is much higher than the 2.9% posted in the electricity, water, and gas sectors and -3.7% recorded in the wholesale, food, and hotel businesses. The results of the comprehensive analysis conducted on the determinants of TFP showed that the correlations between R&D and TFP in general were positive (+) correlations whose significance has yet to be validated; in the model where the self-employed and unpaid family workers were used as proxy variables indicating the smallness of industry out of the total number of workers, however, significant negative (-) correlations were noted. On the other hand, the estimation factors of variables surrogating the smallness of scale in each industry showed that a consistently high "smallness of scale" in an industry means a decrease in the increase rate of TFP in the same industry.

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

• The Korean Journal of Franchise Management
• /
• v.4 no.1
• /
• pp.1-24
• /
• 2013

The purpose of this work is to analyze the case that Yeongju Municipality Government of Gyeongbuk and Jung Donuts Co., Ltd., a franchise company, activated local economy through Farm's Franchise Commercialization (FCC) and to establish the concept of FCC. As a food service franchise company, Jung Donuts specializes in making and selling glutinous rice donuts. In cooperation with Commodity Dept. of Yeongju Municipality Government, the company cultivates raw materials under contract. Such farm's franchise business has the following advantages: First, it is meaningful in the point that it contributes to opening a new market of local agricultural products in a stable way. In short, by using most agricultural products of Yeongju as raw materials, the business serves as a stable market for farmers. Secondly, it is possible to set a reasonable price through stable supply of raw materials. It is to advantages of both producers and consumers. Thirdly, the business brings about the effect of employment rise. It can cause increases in employment of franchise head office and its agencies, and of the Commodity Dept.. Lastly, it produces the promotion effect of local special products. By expanding its agencies across the country, a franchise business can promote the items of raw materials in terms of marketing. The successful FCC needs to meet three requirements as follows. The first one is to establish systematic logistic system. Stable logistic system is required in order to directly distribute and deliver products to nationwide agencies by a producing place. The second one is constant R&D activity. Through the activity of R&D of raw materials and equipment, they should be used most effectively. The third one is to build mutual trust relationship. For long-term business achievements, it is required to establish mutual trust relationship in which relevant entities share their visions with each other and cooperate with each other.

• The Korean Journal of Food And Nutrition
• /
• v.24 no.4
• /
• pp.746-752
• /
• 2011

In the manufacture of baby food in the form of semi-solid to give the most suitable rheological properties to select thickener, 4% of rice flour, modified starch 1 and modified starch or 0.3% pectin added to baby food. After 3 minutes at a pressure 550 MPa high pressure processing(HPP), sensory evaluation conducted to measure the viscosity results, the addition of rice flour, baby food bananas and apples all the color, texture, flow properties and high affinity for most commercial baby food as well as the most likely to show the viscosity of semi-solid state in the manufacture of baby food there were rice flower most suitable. The baby food that 4%, 6% and 8% of rice flower added as thickener were high pressure processing at 450 MPa and 550 MPa pressure and 1, 3 and 5 min conditions. In results, the higher added percentage of rice flower, the viscosity and lightness were increased, pH and sugar content were not significantly different from. In addition, ultra-high pressure processing conditions and the processing time for a change in pressure due to the increase is not significantly different. Because of high-pressure processing does not significantly affect the physical properties of the baby food, consideration of the economy and gelatinization degree, high-voltage processing conditions for the manufacture of baby food 550 MPa, 3 min was considered the most suitable processing conditions.

• Journal of Arbitration Studies
• /
• v.20 no.3
• /
• pp.47-69
• /
• 2010

From the review of Korean arbitration systems with the comparison of those of other countries, we can summarize some issues to be tackled as follows: First, Korean arbitration system started with the purpose of export promotion. This may be the main reason that various domestic disputes have not been resolved by arbitration. Second, the Korean Arbitration Law applies to private disputes. The Law's arbitration scope is wider than that of China and France, but narrower than that of the U.S.A. that encompasses a variety of disputes in the filed of consumer, labor, medical services, patents, etc. Third, active judges or public officials in Korea can not be arbitrator and there is no arbitration court. However, if chief judge allows the necessity, court's judges in the UK can be arbitrator with the mutual agreement of the parties and also arbitration system is operated in the court. Fourth, the Korean Commercial Arbitration Board(KCAB), the only representative institution for arbitration in Korea, is under the Ministry of Knowledge Economy(MKE). This makes it difficult for the KCAB to handle other disputes related to the Ministry of Health and Welfare, the Ministry of Strategy and Finance, the Ministry for Food, Agriculture, Forestry and Fisheries, the Ministry of Employment and Labor, etc. Fifth, as mentioned, the KCAB is the unique institution for arbitration by the Law in Korea, while other countries allow have a diversity of arbitration agencies such as maritime arbitration organization, consumer arbitration institution, arbitration court, etc. Therefore, we suggest some ideas to expand the arbitration's area of coverage in Korea as follows: First, there should be more active policies that promote various domestic disputes to be settled by the arbitration system. Second, it is quite needed to expand the scope of arbitration to cover many disputes in the fields of consumer, labor, medical service, advertising, fair trade, etc. Third, there should be discussions to allow court judges as arbitrator and to introduce the arbitration court. Fourth, the KCAB should strengthen its status and roles as general arbitration organization to overcome the limited scope of commercial disputes. For this, there should be the strong support and coordination among the MKE and other government agencies. Fifth, to reduce the burden of the court's complicated and expensive procedures, more efficient disputes resolution systems should be established on the basis of the parties' free will. Each central government agency should streamline the legal barriers to allow industrial organizations under its control to establish their own or joint arbitration system with the KCAB.

• International Commerce and Information Review
• /
• v.1 no.2
• /
• pp.145-165
• /
• 1999

With the rapid spreading of the internet that is based on the development of the information network system, the paradigms of "internet round" and "cyber" are given much weight in the notion of "market." Especially, the cyber shopping for the individuals is developing rapidly creating the new life style, and also in the domestic economy the cases of building and running the cyber shopping malls are increasing. The purpose of this study is to analyse the customers' shopping styles that can be shown when the customers purchase physical goods or digital goods at the B to C EC and find the way to activate the shopping malls by controlling the factors which influence the trade. The result of the study is as follows: First, to analyse the acting style of the customers at the B to C EC, it is searched whether there is any relationship between the purchasing goods, which are divided into physical goods and digital goods. There was a cross analysis between the first factor of the five factors of the purchase decision or delay at the B to C EC and the goods type. The result of the analysis is that the purchase decision factor is different according as what type of goods is purchased. On the other hand, the purchase delay factor has no relation with the goods type. Second, the fact that the cyber shopping activities are quite different according to sexuality, age, academic background, or occupation suggests that these factors are very important to the strategy for the market-specification of the B to C EC marketing construction. The result shown in this study is sure to give great help to figure out the improvement strategies and the market-specialization strategies to accelerate the B to C EC marketing. On the side of the strategies for the improvement of the goods services, more attention should be given to the functional side for the improvement of the reliability of the goods service such as capacity, technique, and quality. And the activities of the customers are so different according to the vital statistics that the way to cope with the changeability properly should be considered.

• International Commerce and Information Review
• /
• v.14 no.3
• /
• pp.159-183
• /
• 2012

Promoted in places like Korea, the central government and the local governments that can provide information on which to base investment policy to attract foreign direct mutation-specific gravity model (Shift-Share Model) In this study, the decrease of foreign direct investment performance using factors looked up in the industry. The sample period of 2009, 2010, 2011 nationwide (metropolitan and non-metropolitan separated) of foreign direct investment performance for Industry Standard Industrial Classification (Division) was conducted. Factors to look at the results of the National Growth Effect(NS), the industrial structure effect (IM), local allocation effect(RS) to decrease foreign direct investment in 2010 and 2011 non-metropolitan, metropolitan national growth effect(RS) is negative(-) has a value. Because it appears to be the aftermath of the global recession, the impact on the domestic economy Metropolitan area and the Industrial Mix Effect(IM) to the development of education, culture, business, and transportation, etc. in the development of service industries than in non-metropolitan valid environment. In the sector of services (food accommodation, business services, entertainment), We did it, was able to find the function. However, the Regional Share Effect(RS) be competitive in the manufacturing sector in metropolitan areas in the metal and chemical sectors have been identified. These results seems to enhance the competitiveness of the region, such as the metropolitan area's excellent workforce. Shift-Share analysis technique based on competitive factors of the region, to find the failure has limitations.

• Journal of Environmental Policy
• /
• v.12 no.1
• /
• pp.101-123
• /
• 2013

This research aims to find out the existence of considerable induced effect that the conventional I-O model cannot. First, we construct an environmental Social Accounting Matrix for Korea by combining statistics on the Korean GDP and I-O with physical data on the fossil energy consumption and $CO_2$ emissions. The impacts of productive activities on fossil energy consumption and $CO_2$ emissions are evaluated by calculating the e-SAM multipliers. By applying decomposition technique further, we get direct, indirect, and induced effects of production activities by industry. The result of decomposing the e-SAM shows that while the direct effect of the electricity industry is large, its indirect effect is very small. In the case of the primary metal industry, both the direct and the indirect influence of this industry were very large. On the contrary, in case of the service industry, the induced effect of fossil energy consumption was as high as 50% of the gross effect. These results suggest that different energy policies should be established for different industries. Also, the findings show the e-SAM model is better than I-O model in analyzing implications of policies on energy use in the economy.