• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.12 no.3
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• pp.87-105
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• 2017

This study investigates the effect of entrepreneurship on corporate performance highlighting the mediating role of technological innovation and the moderating role of marketing competence. By identifying the role of technological innovation and marketing competence within the relationship between the entrepreneurship and corporate's business performance, this study aims to improve SMBs' competence. Special attention was given to the fact that while there are some technology-based SMBs which have achieved positive outcomes through innovation, there are some other firms which have not been able to deliver expected outcomes despite of their technological competence. The data used in this study came from CEO or chief research executives of SMBs. Results of the data analysis show that the innovative sprit which is an important factor of entrepreneurship has an positive effect on technological performance, financial performance and non-financial performance. However, risk- taking tendency has an positive effect on technological performance but negative effects on financial and non- financial performance of the firms. This study also has examined the mediating effect of technological innovation on the relationship between entrepreneurship and corporate's performance and the result reveals that technological innovation plays a mediating role within the relationship. Specially, innovative spirit plays a full mediating role within the relationship between technological commercialization capacity and financial and non-financial performances of SMEs'. Also, risk taking tendency has a full mediating effect on the positive relationship between strategic planning capability and both financial and non-financial performance. Regarding the moderating role of marketing capability within the relationship between the entrepreneurship and the performance of the firms, results of data analysis shows as follows. Marketing professional capability plays a moderating role between risk taking tendency and performance of the firm and marketing structural capability plays a moderating role between innovative spirit and the performance of the firms. Based on these results, this study confirms that SMEs' business performance is effected by entrepreneurship. Innovative spirit plays a mediating role within the relationship entrepreneurship and business performance. However, Marketing capability has a partial moderating effect on the relationship between the entrepreneurship and the business performance.

• Journal of Technology Innovation
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• v.28 no.2
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• pp.37-61
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• 2020

This research aims to empirically examines the effects of competition factors on satisfaction and its on repurchase intent for SME's technology development products in the public procurement market, and to empirically verified the moderating effect of policy conformity. The result shows that the competition factors all have a significant positive effect on satisfaction, and that satisfaction has a significant positive effect on the intent to repurchase. In addition, the policy conformity shows a significantly moderating effect in the relationship between competitive factors and satisfaction and also, there was a significant difference in repurchase intention according to the buyer's innovativeness. This research has important implications that it provides innovative SMEs with practical implications for establishing marketing strategies in the public procurement market and extending the study of customer satisfaction centered on the private market to the public purchase market.

• Journal of Digital Convergence
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• v.17 no.2
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• pp.31-36
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• 2019

New technologies are being created and resulted as new types of fusion complex as the barrier between technology and industries are being broken and convergence is becoming more activated in the global economy of the era of fourth industrial revolution. Korea government is trying to foster innovative technologies for new technologies and new services to prepare for the fourth industrial revolution and gain global competitiveness, but many regulations make it difficult to verify and commercialize them. In response, the Korea government is pushing for the introduction of a regulation-free special zone system in which sandboxes are applied so that new technology and new service-based innovation projects can be freely commercialized through experiment and demonstration. This study aims to examine the limitations of the special zones for regional specialization development applied to the zones that are applied uniformly throughout the country and suggest ways for the deregulation special zone to be fostered as an empirical test bed based on new technologies and as a base for regional innovation.

• Journal of Convergence for Information Technology
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• v.11 no.3
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• pp.107-124
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• 2021

This study is a study on the innovation resistance that may arise in connection with the introduction and use of smart factory-related technologies by SMEs. It is to study the effect of the leading factors of innovation resistance on innovation resistance and the effect of innovation resistance on use intention by using the extended innovation resistance model. A total of 176 survey data were used for the study, and the study was conducted using SPSS 25 and Smart PLS 2.0. Relative advantage, suitability, perceived risk, social impact, and organizational characteristics have a significant effect on innovation resistance, and innovation resistance was tested to have a significant effect on the intention to use. As an implication according to the research, a plan to improve the level of introduction and use of smart factories using the expanded innovative storage model was presented by dividing positive and negative factors, and factors that should be improved and factors that should be reduced are presented. It was specifically presented.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.4
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• pp.149-163
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• 2023

The policy of promoting innovation clusters aims to enhance the competitiveness of industries by strengthening the linkages between industry sectors and research sectors in specific regions. In Korea, after the concept of innovation clusters was introduced by the OECD in 1997, Korean government actively pursued policies based on this concept in the fields of industry, region, and science and technology. Previous policies and research on the activation of innovation clusters have tended to focus on the exchange and collaboration among members. However, this study focused on enhancing the competitiveness of industries and regions, in other words, strengthening the competitiveness of companies, which is the fundamental reason for fostering innovative clusters. Accordingly, this study aimed to analyze the impact of factors activating innovation clusters on the business performance of SMEs located in the Daedeok Innopolis. To achieve this, based on the essential concept of innovation clusters such as industrial agglomeration factors, networking factors, innovation generation factors, the study derived factors for activating innovation clusters and verified hypotheses using the survey results of 175 companies. Among the factors activating innovation clusters, industrial agglomeration and innovation generation were found to have a positive impact on the business performance of companies. However, networking factors were analyzed to have no significant influence on the business performance of companies. This study differentiates itself by addressing the factors for activating innovation clusters through empirical analysis, unlike previous case-based studies. Furthermore, considering the difference between intuitive judgments on networking factors in innovation clusters and their actual impact on business performance, the study raised the practical significance of conducting a comprehensive examination from various perspectives, such as the socially and culturally embedded structures in the region, the characteristics of specialized industries, and the needs of cluster members, to develop more effective policies for innovation clusters.

• Journal of Technology Innovation
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• v.22 no.4
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• pp.199-233
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• 2014

This paper attempts to investigate how and why the additionality effects occur in the case when a firm receives government subsidy as opposed to counterfactual situation. To demonstrate this, we selected 12 SMEs(small and medium enterprises) firms in Daejeon area and have conducted multiple case studies. In order to analyse the multiple cases of firms, we classified firms innovative activities into three stages which are composed of input, behaviour and output stages and related various factors. Furthermore, we investigated the differences according to types of firms and stages of firm growth. Empirical results show that various input, behaviour and output additionality effects exist when firms receive public subsidies. Compared to companies in the growth and mature stages, startup phase companies depend on government subsidy extensively and they use public subsidies strategically to develop new product and to change their strategic direction. The attitude of firms to use government subsidies is different according to their types and stage of growth as well.

• Fourth Industrial Review
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• v.1 no.1
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• pp.1-10
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• 2021

Purpose - This case study analyzes the internationalization strategy and innovation strategy as key factors contributing to the business success of CAP, a small and medium-sized manufacturing company in Korea producing auto parts such as wipers. This study describes the diversification strategies conducted by CAP Corporation and highlights the company's core competencies that have largely contributed to their global competitive success. Research design, data, and methodology - This paper provides in-depth case study on how CAP was able to grow into a hidden champion company, focusing on their strategies since its establishment. In particular, by analyzing the success factors centering on CAP's aggressive innovation strategy and internationalization strategy, it presents guidelines for small and medium-sized enterprises in Asian countries to become a Hidden Champion company. Result - CAP's product technology has successfully established innovative system on their product called 'vertebra spring' to distribute uniform pressure to the rubber to ensure performance as well as durability of their products. In order to continue benefiting from utilizing core competence and to continue pursuing technological advancement in the wiper industry, CAP has launched a wide range of products (flat blade, conventional blade, hybrid blade) applicable to 95% of the vehicle in the market. Conclusion - Taken together, CAP has many aspects of a hidden champion company by investing in R&D up to 8% of its annual sales to R&D investment even during the crises situation. This number is about 3.36 times higher than the average ratio of listed companies in Korea. Furthermore, the leadership of the management team as well as their vision toward the global market and strong commitment to innovation enabled CAP to become the world's fifth-largest wiper and Asia's No. 1 wiper manufacturer.

• Analyses & Alternatives
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• v.8 no.2
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• pp.117-140
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• 2024

Major countries are actively pursuing policies to promote entrepreneurship to foster economic growth and employment. Meanwhile, although South Korea's entrepreneurial ecosystem has shown robust quantitative growth since the COVID-19 pandemic, it is still criticized for its shortcomings compared to other major countries. Based on this, this study aims to derive a comprehensive innovation entrepreneurship index for each country to foster an innovative entrepreneurial ecosystem and sustainable growth in South Korea. Specifically, this study first analyzed the entrepreneurial ecosystem of various countries. Second, we utilizing data from sources such as the Global Entrepreneurship Monitor, Global Innovation Index, and World Bank, the study calculates a comprehensive innovation entrepreneurship index for each country. Finally, this study analyzes the type of South Korea's innovation entrepreneurship index and suggests the future direction of through cluster analysis.

• Journal of Distribution Science
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• v.12 no.6
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• pp.59-65
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• 2014

Purpose - The competitiveness of logistics in the 21st century rests on ensuring the efficiency and effectiveness of its local hub. While considering entry into a niche market in local logistics, it is pertinent to note that Budapest is emerging as a hub in EU enlargement in Eastern Europe. Big, small, and medium-sized businesses in Korea entered Hungary in the early 1990s since then, there has been a significant increase in Korean presence, of approximately 130 times. This study aimed to identify the key distribution issues that have emerged in relation to Eastern Europe. Research design, data, and methodology - This study indicates that 33 major Korean companies were located in Hungary, which serves as an out post to enter the European marketplace. However, Korea's exports to Hungary have declined (-32.0% in 2012) because of a loss of competitiveness against multinational corporations, due to factors such as the rise in current local distribution costs and wages. Hungary, on the other hand, through diversification and expansion of foreign trade with the non-EU markets, including Korea, is increasing its exports. Strategies of emerging countries are compared and reviewed in this study, by examining the vicissitudes of Hungary's distribution methods. Results - There are issues regarding Hungary's innovative ability. Hungary has a history of low wages and high skilled labor. However, the outflow of high-quality human resources for high-wages has become more extensive, and this underlines concerns that the CEE's trade hub is moving to neighboring countries. After the European financial crisis in 2010, the Hungarian economy is now developing, because of the IMF's measures, and it is being transformed into a trade surplus nation, while regaining distribution volumes rapidly. However, if there is continued lack of investment, the supply chain is weakened and exports decline amidst competition with TNCs or with China's distribution networks. Conclusions - It is necessary to create a new logistics approach for increasing trade between Korea and Hungary. First, Korean small and medium enterprises (SMEs) should build trust by working with advanced Hungarian talent, and they should expand into state-of-the-art fields instead of being confined to traditional sectors. Second, this study focuses on limiting and lowering their high expectations for success according to foreign direct investment (FDI) inflows and the role in the CEE distribution hub Korea should try to strengthen the distribution hub with its centralized population, using better, more highly educated human resources, thereby sustaining more innovative ability. Further, the positive effects of these measures are manifested in enhanced business on both sides of Hungary, namely, the EU and non-EU nations such as Turkey and emerging markets around Europe, and a better engagement in the core placement of culture and industry. For this, Korea can contribute to, and benefit from, a Hungarian logistics center, for adopting the high-tech cluster systems and commercializing distribution technology such as RFID·USN.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.13 no.1
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• pp.61-72
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• 2018

In a rapidly changing environment, such as globalization, technology-based startups are attracting attention as a new growth engine that creates jobs and added value and promotes national competitiveness. At present, countries around the world recognize the development of technology-based start-up companies as a major policy task and strive to make policy efforts to revitalize start-ups and strengthen innovation capabilities of companies. Especially, in order to secure superiority in the fierce market competition, it is becoming more and more important for the growth and development of technological start-up companies that pioneer new markets and energize the economy based on original and innovative technologies. Therefore, it is necessary to study systematically and plan for survival and growth of technology start-up companies. The purpose of this study is to investigate the entrepreneurial spirit of Innovation, Entrepreneurship, Risk Sensibility and Technology Innovation Capacity, R&D ability, Technology Accumulation Capacity, Technology Innovation System, The results of this study are as follows. the effects of marketing ability on technical performance and financial performance are examined. First, the CEO 's entrepreneurial spirit has an effect on the technical performance and financial performance of the management performance. Second, the technology accumulation ability and the R & D capability have a positive effect on the technical performance. Finally, it was found that the ability to commercialize the technology commercialization capacity affects both technical performance and financial performance. The policy implications that can be gained through this are as follows. First, by strengthening cooperation between universities and research institutes, related technology entrepreneurship education programs should be upgraded so that technology entrepreneurs or preliminary entrepreneurs can capture business opportunities and secure market price competitiveness. Secondly, R & D for the purpose of start-up should be developed and marketable technology should be developed and linked to direct start-up. Third, it is necessary to activate the program to match the company with the honorary retirement manpower of large enterprises and SMEs, which have more experience in field experience than the founders.