• The Journal of Asian Finance, Economics and Business
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• v.7 no.9
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• pp.747-753
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• 2020

This study aims to interpret the meaning of a successful entrepreneur from the perspective of women entrepreneurs in Malang, Indonesia. This research offers a phenomenological approach using purposive sampling. Data was collected by in-depth interviews using structured questionnaire with registered women entrepreneurs in Malang obtained from MSMEs (micro small and medium-sized enterprises) entrepreneurs. The 'continually developing' is one of the meanings of a successful entrepreneur. This study also found that success is when what women do can be useful to others. Besides, the meaning of success has two criteria, i.e., when they can meet their needs (individual satisfaction) and social performance as a goal to be achieved by entrepreneurs. The motivation of women entrepreneurs to establish their venture was not only financial returns, but also personal satisfaction, which was also the indicator of entrepreneurial success for women. This study has several limitations. First, our sample size is too small and consists of entrepreneurs that have an average age above 40 years. Hopefully, further research will be able to generalize our findings to a broader sample in various industries outside the city of Malang. As our research shows, the criteria and meaning of success may be different for a larger sample of entrepreneurs.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.6
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• pp.71-86
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• 2023

Although starting a business plays a key role in strengthening national competitiveness and creating jobs, it is recognized as a risky choice. Failure to start a business can result in a wide range of negative effects, such as loss of personal wealth as well as deterioration of national competitiveness. This study considers startups that have reached a level of sustainable growth by achieving performance above the minimum profitability and sales standards for KOSDAQ listing, or achieved EXIT through sale or listing, as successful startups. based on the practical experiences of 23 successful entrepreneurs and Based on perception, the importance and priorities of startup success factors were derived through stratification analysis (Analytic Hierarchy Process, AHP), and interviews were conducted. In particular, using the ERIS model, we comprehensively analyze various variables of a start-up by considering the four elements of the entrepreneur, resources, industry, and strategy, and examine the changes and importance of success factors according to the characteristics of each growth stage of the start-up. As a goal, we specifically identified the challenges and opportunities faced by entrepreneurs at each stage. As a result of the study, the order of importance of the top factors of success factors in the start-up period was found to be the entrepreneur, resources, industry, and strategy. In particular, the importance of the entrepreneur's entrepreneurship spirit, special capabilities, general capabilities, and human resources was emphasized. The order of importance of the top factors of success factors during the growth period was found in the following order: entrepreneur, resources, industry, and strategy. In particular, the importance of general capabilities, entrepreneurship, and human and organizational resources was emphasized. This study is significant in that it analyzes startup success factors from the perspective of successful entrepreneurs and provides useful insights and directions to entrepreneurs and policy makers.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.14 no.1
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• pp.47-58
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• 2019

This paper is brought to analyze an impact of coaching activities over entrepreneur with respect to entrepreneurs' personal characteristics on the performance of Startups focusing on entrepreneur's awareness conversion effect. In particular, the situation of falling focus of serious startup failure on uncoachable obstinate entrepreneur among the several causes of startup failures, this paper define the research mission of reducing this risk by inducing coaching types of cooperations between senior entrepreneur having serial successful startup experiences and beginning entrepreneur. This paper carry out literature reviews chiefly on startup coaching researches rather than mentoring studies because coaching stressing on self-oriented problem defining and solving by entrepreneur actively tend to be more effective than mentoring relying on mentor's guideline passively as solving startup's main upcoming problems. This paper implement four related researches. First, the impact analysis of entrepreneur's personal characteristics on coaching activities, second, influences of entrepreneurs environmental factors on them, Third, impact of coaching activities on entrepreneur's awareness conversion effect, Fourth, how strongly this conversion effect contributing on the performance of startup. As results of empirical research, first, this paper prove that entrepreneur's environmental factors impact positively on coaching activities over entrepreneur although failing on validating on significant impact of entrepreneur's personal characteristics on coaching activities. Second, this paper prove that coaching activities positively influence on entrepreneur's awareness conversion, hence ultimately positively on the performance of startups. As conclusion, this paper validate that coaching activities over entrepreneur through inducing on the conversion of entrepreneur's awareness lead entrepreneur to setting the bar high and accountable planning of business milestone. This paper contribute on delivering policy implication that government initiatin action-oriented training program for entrepreneurs should accept the module of coaching session to produce more effective results.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.13 no.5
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• pp.2079-2086
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• 2012

In this paper, the relation model for three important entrepreneurial entities are studied based on the expectation theory for entrepreneurs. The three entrepreneurial entities include entrepreneurial expectancy, entrepreneurial outcome and expect growth intentions. In this study, the entrepreneurial expectancy is defined as the expectation about establishment, while entrepreneurial outcome and expect growth are related to entrepreneur's dominant idea for enterprises' operation and management. Based on the investigation data via questionnaire for 489 subjects, the relation model hypothesis for the three entrepreneurial entities is tested using structural equation model analysis. According to the analysis result, arguments can be made that entrepreneurial expectancy can have a significant positive effect on realization of successful entrepreneurial activities, and entrepreneurial outcome may have a significant positive effect on realization of expect growth intentions. Therefore, a kind of mutual promotion model can be observed among the three entrepreneurial entities. In addition, the proposed relation model is applied to both Korean and Chinese entrepreneur, and their differences are compared and discussed.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.9 no.6
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• pp.231-244
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• 2014

Domestic recessions, business restructurings, voluntary resignations and youth unemployment crises have fueled competition in the start-up market, and business start-up is increasingly incited as a means to make a living under circumstances. However, ill-prepared business start-ups result in bankruptcy. Profound knowledge and skills are required for successful start-up. A successful entrepreneur of a business is often not born but made. The purpose of this study was to examine the success factors of successful venture entrepreneurs in an effort to make some suggestions on entrepreneurship education. After the characteristics of the selected successful venture entrepreneurs were analyzed, 18 items were selected as their success factors, and the following six things were presented as what should be taken into account in relation to the competency of a successful entrepreneur: First, achievement-needs characteristics and goal-oriented characteristics that belong to the characteristics of entrepreneurs could be educationally taken advantage of in entrepreneurship education. Second, achievement-needs characteristics are an educational element of the preparatory stage, and goal-oriented characteristics are an educational element for business administration after starting a business. Third, hands-on experience is mandatory since learning by experience is quite important for entrepreneurs. Fourth, entrepreneurship education is more effective when it targets the younger generations. Fifth, the kind of educational support that is to assess the entrepreneurship of prospective entrepreneurs to help them improve their overall entrepreneurship is required. Finally, entrepreneurship education should be offered by a person with experience of setting up a business so that he or she could inform learners of their practical experience and knowhow.

• Asian Journal of Innovation and Policy
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• v.5 no.3
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• pp.330-342
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• 2016

This is an interview with Professor Kwang-Hyung Lee, founding Dean of KAIST Moon Soul Graduates School of Future Strategy and founder of the Department of Bio and Brain Engineering of the same university casting two questions about academics. The first question is what pattern is desirable in the evolution of research topics of an academics. While traditional researchers in science and engineering tend to focus on one subject in ever greater depth over time, Professor Lee's research agenda has spanned several new topics by gradually changing the content of the study: from artificial intelligence to bio and brain research, and to creativity development method, further to future study. The second question is about researchers' social responsibility. He has devoted to contributes to industry fields and the nation through academic activities as well as educating several successful business people, founding a new academic department and graduate school of future studies.

• Proceedings of the Technology Innovation Conference
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• 1998.06a
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• pp.91-115
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• 1998

Inspire of increasing importance of entrepreneurs for successful new venture creation, structured educational programs for entrepreneur development are very limited in Korea. Based on the survey of existing academic programs and interviews with entrepreneurs, this study presents a new education system for entrepreneurial management and new venture creation. Specifically, seven venture educational programs are suggested. As degree programs, ⅰ) new venture interdisciplinary program and ⅱ) venture MBA program are presented. Also, ⅲ) advanced venture management program, ⅳ) venture capitalist training program, and ⅴ) potential entrepreneur training program are suggested as non-degree programs. In addition, special and supporting programs such as ⅵ) technological entrepreneurship seminar and vii) new venture forum are explained. Finally, some examples of typical entrepreneurial management courses are presented and policy implications are suggested.

• Journal of the Korean Society of Clothing and Textiles
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• v.42 no.1
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• pp.133-147
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• 2018

This study examines the experience structure and success theme in the business experience of successful young entrepreneurs in the fashion field. The study was conducted as a qualitative case study. The participants were three CEOs with more than 10 years fashion businesses experience with small and medium enterprises. Data were collected from July 2016 to June 2017 through in-depth interviews in Seoul and Gwangju as well as literature collected from other journals, newspaper articles, and books. Collected data were first summarized in 284 meaning units and then reduced to 53 common meanings through description, analysis, and interpretation processes that produced 16 sub-themes. Finally, six successful themes were extracted. The study results are as follows. First, the experience structure for successful entrepreneurs is formed by the qualitative difference of experience according to time order. Second, there are six successful themes found in the fashion start-up process. 1. Developing talent as entrepreneurs with a sense of fashion and enthusiasm 2. Passing on trial and error as a chance to communicate with customers 3. Challenge the fashion retail market with global online start-up opportunities 4. Building a system that responds to market environment changes 5. Leading and distinguishing with expertise from entrepreneurs 6. Evolve into the coexistence of members.

• Journal of Venture Innovation
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• v.5 no.3
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• pp.1-17
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• 2022

Entrepreneurs recognize that their passion was an important factor in driving successful entrepreneurship. However, they were often unaware of the impact that third-party passions related to startups have on them. Therefore, in this study, it was verified whether the accelerator incubation program had an effective effect on portfolios. At this time, I tried to do an empirical analysis focusing on how the third-party accelerator entrepreneur passion affects the entrepreneurial performance of portfolios. To this end, a survey was conducted on representatives of portfolios across the country who completed the accelerator incubation program, and empirical testing was conducted based on 330 valid ones. As a result of empirical analysis, it was confirmed that mentoring and networking among accelerator incubation programs had a positive (+) effect on entrepreneurial performance of portfolios. On the other hand, education and seed investment in the accelerator program did not significantly affect the entrepreneurial performance of portfolios. On the other hand, it was tested that accelerator entrepreneur passion significantly moderated both the incubation program elements (education, mentoring, network, seed investment) and the entrepreneurial performance of portfolios. The results of this study are meaningful in that they reveal that the passion of accelerator entrepreneurs is an important lynchpin of incubation programs and the key to success in startups. In addition, this study suggests that it is important for startups to go one step further from seed investment and properly identify the accelerator entrepreneur and his passion, the key man of accelerators.

• Asian Journal of Innovation and Policy
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• v.7 no.1
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• pp.79-102
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• 2018

In an entrepreneurial ecosystem, the failure rate of startups is extremely high at 90%, and every startup that fails becomes an orphan. This phenomenon leads to higher costs of failure for the entrepreneurs in the ecosystem. Failed startups have many lessons to offer to the ecosystem and offer guidance to the potential entrepreneur, and this area is not fully explored compared to the literature on successful startups. We use a case based method distinguishing a failed startup and a successful startup, studying the entrepreneurial characteristics and firm level factors which cause the failures, in the technology startup ecosystem of Bangalore. We study one of the modes of exit adopted by failed startup entrepreneurs and draw key lessons on causes that culminate in failures. We have identified that factors such as the time to minimum viable product cycle, time for revenue realization, founders' complementary skillsets, age of founders with their domain expertise, personality type of founders, attitude towards financial independence and willingness to avail mentorship at critical stages, will decisively differentiate failed startups from the successful ones. Accordingly, implications have been derived for potential entrepreneurs for reducing the cost of failures in the entrepreneurial ecosystem.