• Korean Journal of Construction Engineering and Management
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• v.16 no.4
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• pp.70-79
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• 2015

With the rise of the interest in a renewable system, the importance of the Life Cycle Cost Analysis(LCCA), an economic evaluation tool, has been increasing. However, there is an inevitable gap between a real cost and an estimation from LCCA because of the uncertainty of the external environment in real world. As the input variables in an analysis, such as a real discount rate and an energy cost, ares subject to change as time goes by, strategic decision on the current operating system is made depending on the real cost. Current economic evaluation approaches have treated only the fluctuation of input variables without consideration of the flexibility in operation, which has consequently led to the impairment on the reliability of LCCA. Therefore, new approach needs to be proposed to consider both the uncertainty of input variables and operational flexibility. To address this issue, the application of the Real Option to LCCA is presented in this study. Through a case analysis of LCCA of a solar heating system, the limits and current status of LCCA are identified. As a result, quantitative presentation of strategic decisions has been added in the new approach to implement the traditional approach.

• Knowledge Management Research
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• v.22 no.1
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• pp.85-103
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• 2021

While there is a rapid transition to smart work due to COVID-19, not many studies have measured the changes in organizational culture after firm-wide institutionalization of smart work. Through a questionnaire and a series of stakeholder interviews, this study examined how and to what extent employees' perception of organizational culture changed after the introduction of smart work in a large leisure service company H in South Korea. The working culture of the organization is measured as the changes in the organizational members' perception on seven dimensions: strategic innovativeness, organizational flexibility, fair human resource management, rational decision making processes, organizational vitality, trustful collaboration, proactive leadership. The results demonstrated that, after the introduction of smart work, the organizational members' perception on strategic innovativeness, organizational flexibility, organizational vitality, trustful collaboration have declined significantly while the changes in fair human resource management, rational decision making processes, and proactive leadership are insignificant. Though found to be insignificant, follow up interviews revealed that participants think that the role of management leadership is very critical for the smart work systems to be institutionalized successfully. While the smart work may have different effects depending upon industry or organizational characteristics, this study present a case for changes in organizational culture after institutionalizing smart work. Implications are discussed with further research issues at the end.

• Korean Management Science Review
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• v.10 no.2
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• pp.93-110
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• 1993

Since the manufacturing machines containing information processing capacity by development of ME technology are developed and distributed from the advanced nations, manufacturing automation with manufacturing method which keeps flexibility and productivity is supplied broadly. An introduction of manufacturing automation technology is necessary to solve difficult domestic industry environment due to international competitiveness weakness of products. The aim of this is to search for the successful factors of the manufacturing business which uses too much technology of manufacturing automation and to observe the difference of the successful factors which influence to introduction performance according to the introduction type of automation technology and the strategic type through the empirical analysis.

• Culinary science and hospitality research
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• v.8 no.1
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• pp.1-21
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• 2002

A study is on the market ing strategy which applied the web site for family restaurant. The internet marketing that the firm uses to attract consumer needs and it can be said to be the strategic effort to cope with dynamic environmental change in the market with strategic flexibility which has competitive advantage and increase its profitablelity. This study establish an internet marketing strategy plan and it presented. First, it constructs a data base using CRM and it manages with to create the benefit model. Second, it constructs the trusted relationship of the customer using Permission marketing. Third, the virus marketing is effect ive to create customers in short duration. Forth, e-mai1 marketing for target customer is also effective Fifth, experienced marketing provides the good experience and an immersion. Sixth, tie-in marketing which co-operate with the other company is magnifies a category of customer therefore this study about internet marketing action will be hopefully continued.

• The Transactions of The Korean Institute of Electrical Engineers
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• v.66 no.2
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• pp.323-327
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• 2017

Soft magnetic composite (SMC) material has recently received a significant attention in the area of high-speed machines because of its unique properties such as good design flexibility and low eddy current loss. However, SMC's electromagnetic property is poor compared to silicon steel in terms of saturation, relative permeability, and hysteresis loss. This paper presents a technique for utilization of SMC in two strategic designs of a switched reluctance machine (SRM) depending on a loss pattern. To investigate the effect of SMC's merits and demerits, the stator material is changed from laminated steel to SMC.

• Proceedings of the Technology Innovation Conference
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• 2001.06a
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• pp.117-130
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• 2001

R&D is the core competence of an enterprise. Furthermore, R&D requires huge capital investment and has very risky characteristics. Therefore, to be successful in R&D process, several approaches of engineering economics are used prior to decision-making. Until now, typical approaches of engineering economics such as NPV(net present value) or DCF(Discounted cash flow) have been used. But, they cannot properly capture managerial flexibility to adapt and revise later decisions in response to unexpected market development. In a constantly changing and always uncertain marketplace, managerial operation flexibility and strategic adaptability have become vital in order to successfully capitalize on favorable future investment opportunities and limit losses from adverse market development. For the alternatives of conventional static decision-making approaches, new concept of using real options is introduced. Real option theory is based on financial option's characteristics and checks every revision interval whether situation have changed favorable to decision maker or not. In advantageous situation, the decision maker has only to go on. In contrast, with unfavorable situation, he abandons the investment immediately. In this aspect, real option model is more suitable in very uncertain and dynamic business environment in that it can provide the opportunity to cope with flexibility. This paper suggests efficient and effective R&D investment strategy by using real options model. In addition, this paper compares financial options and real options.

• Korean Journal of Fisheries and Aquatic Sciences
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• v.49 no.1
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• pp.1-6
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• 2016

This study investigated the physicochemical and sensory characteristics of fish paste containing red snow crab Chionoecetes japonicus leg-meat powder (RMP) in 0, 3, 6, 9, and 12% concentrations. The moisture contents of fish paste with RMP ranged from 56.7 to 60.2% and the pH ranged from 7.0 to 7.7. The L values decreased as the RMP concentration increased, and a and b increased. The folding test for all of the fish paste samples scored AA, which indicates good flexibility. The hardness, springiness, gumminess, and cohesiveness increased with the RMP concentration. In the sensory evaluation, the fish paste prepared with 6% RMP was the most preferred. These results suggest that RMP can be added to fish paste to achieve high quality.

• Journal of the Korean Society for Railway
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• v.9 no.6 s.37
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• pp.664-670
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• 2006

This Research aims to analyze the effects of SCM management capabilities and IT capabilities on firm performance. The strategic performance was shown to be positively and significantly affected by flexibility and responsiveness which were proxies for SCM management capabilities. However, neither main effect of IT capability nor interaction effects of IT capability and SCM management capability on firm performance was found.

• The Journal of the Korea Contents Association
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• v.18 no.2
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• pp.188-199
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• 2018

The purpose of this study is to grasp the type of network activity and corporate competency based on network theory and to compare and analyze the relationship between these characteristics and business performance. The results showed that the frequency, importance, and reliability of CEO's had a positive (+) effect on business performance, and the mediating effect of corporate competency (industrial information competency, opportunity capture competency, strategic flexibility, and transaction cost reduction) appeared. This study tried to measure business performance by including corporate competency as a direct performance variable of CEO's network activity and found that it is desirable to focus on interacting with the most important network sources and to make efforts to strengthen the qualitative characteristics of network activities rather than expanding the scope of the network in order to improve the performance of CEO's Network Activity.

• New & Renewable Energy
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• v.8 no.2
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• pp.33-43
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• 2012

Why solar companies preferred vertical integration of whole value chain? Major solar companies have built internally strong vertical integration of entire PV value chain. We raise a question whether such integration increases the corporate value and whether market situation affects the result. To test these questions, we conducted multi-variant analysis where characteristic factors mainly affect the corporate value measured in terms of Tobin'Q, based on the financial and non-financial data of PV companies listed in US stock market between 2005 and 2010. We hypothesize that since integration increases the overall efficiency but decreases the flexibility to adjust to various market situation, the combined effect of the efficiency gain and the flexibility loss ultimately determines the sign of integration effect on the corporate vale. We infer that the combined effect will be influenced heavily by business cycle, as in boom market (Seller's market) the efficiency gain may be larger than the flexibility loss and vice versa in bust market. We test whether the sign of combined effect changes after the year of 2009 and which factors influence most the sign. Year of 2009 is known as the year when market shifted from Seller's to Buyer's market. We show that 1) integration increases corporate value in general but after 2009 integration significantly decreases the value, 2) the ratios such as Production/Total Cost, Cash turnover period chosen for reversal of the flexibility measure are negatively affect Tobin's Q and especially stronger after 2009. This shows the flexibility improves corporate value and stronger in the recess period (Buyer's market). These results imply that solar company should set up integration strategy considering the tradeoff between efficiency and flexibility and the impact of the business cycle on both factors. Strategy only based on the price competitiveness determined in boom time can bring undesirable outcomes to the company. In addition, Strategic alliances in some value chains as a flexible bondage should be taken in account as complementary choice to the rigid integration.