• Title/Summary/Keyword: entrepreneur & development type

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A Study on The Effects of Business Plan upon Firm Performance (사업계획이 경영성과에 미치는 영향에 관한 연구: 구성요소 및 기업가유형, 발전단계 측면에서)

  • Koh, In-Kon
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.6 no.4
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    • pp.111-135
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    • 2011
  • While previous studies and publications all assert a strong correlation between company's business plan and performance, very few have actually conducted practical analyses to support that. This study takes a practical approach in its analysis of Korean small and mid-sized enterprises(SME) with the view to finding an answer to the question. In addition, with the considerations of entrepreneur type and company's development stage, I analyzed the differences of business plan components' effects on performances. I selected business plan's components, which have been suggested only in theory and in concept, through the literature review and preliminary examination. Corporate performances were the recent improvements of ROS, ROA, market share and the number of employees to measure how greatly each is impacted by the components of a business plan. Results show that business plan components have influenced upon the number of employees. The business plan components discriminated superior company group and inferior company group properly. Especially, finance & related system and advertising & distribution factors showed statistically significant classification forecasting power. Technical/Craftsman evaluated the effects of producing & sales and profit & quality factors high and General/Opportunistic evaluated the effects of finance & related system, advertising & distribution, corporate mission factors high. The effect of corporate mission was highest among company development stages. Finance & related system and advertising & distribution factors showed the statistically significant difference in entrepreneur type and company development stages.

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A Study on the Effect of Startup's Innovation Orientation on Growth Aspiration (창업기업의 혁신지향성이 성장열망에 미치는 영향에 관한 연구)

  • Oh, Hyemi;Lee, Chaewon;Kim, Jinsoo
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.16 no.5
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    • pp.1-14
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    • 2021
  • Innovation and Scale-up of Start-up companies are becoming important national tasks. In the past, it was spread the start-up policy paradigm such as 'Start-up America', 'Start-up Chile', 'Start-up Britain' to overcome the recession globally. However as the economic recovery has become more visible recently in advanced economies, it is shifting from a start-up support policy to a scale-up oriented policy paradigm such as 'Scale-up America', Scale-up UK', 'Scale-up Denmark'. It is necessary to enter the scale-up phase beyond the start-up phase to increase the number of high-quality jobs and to continue economic growth. Therefore, it is necessary to grow the start-up into a strong medium-sized company and to lay the foundation for survival. Therefore, the purpose of this study is to consider the antecedent factors that influence the scale-up aspiration for the start-up firm to grow into a scale-up company, and empirically identifies the differences between the stages of economic development and entrepreneurs in the country. In order to accomplish the purpose, this study predicted scale-up by aspiration which is a predictor of scale-up behavior because it is difficult to achieve visible growth in a short period of time due to the characteristics of start-up companies. In order to empirically explore these relationships, the data were collected from nascent entrepreneurs who have less than 3.5 years of the Adult Population Survey(APS) among the subjects surveyed by the Global Entrepreneurship Monitor(GEM) and the national economic development stage are divided into Innovation-driven, Efficiency-driven, Factor-driven type economies. For the test hypotheses, this study adopted the multi-level model analysis for comparison between national economic development stages and using the R 3.5.0 program. The results of this study are as follows. There is difference between the national economic development and the entrepreneur in the relationship between innovation orientation of entrepreneurs and scale-up aspirations. As the economy of the country develops, the innovation activity of the entrepreneur becomes more active. Since start-ups are heavily influenced by entrepreneurs, there is a difference in the degree of aspiration depending on how innovative an entrepreneur is in the same environment. In terms of the relationship between innovation orientation and scale-up aspiration, the fear of failure was found to differ between national economic development and entrepreneurs. The fear of failure differ from country to country, and this is one of the important factors affecting entrepreneurial activities. It is expected that the factors influencing the growth of the start-up companies which are identified through the results of these studies, will be used to create a suitable scale-up ecosystem according to the national economic development stage.

Economic and Political Responses to Globalization: Economic Restructuring and Local Government as an Entrepreneur (세계화에 따른 경제${\cdot}$정치적 동향: 경제재구조와 기업가로서의 지방정부)

  • Koh, Tae-Kyung
    • Journal of the Korean Geographical Society
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    • v.31 no.4
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    • pp.662-671
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    • 1996
  • Since the world's economic and political structures have changed, the term 'globlization' has shown up as a dominant power and as a necessity for regional and national development. Each nation is responding to the globalization process economically and politically in various ways. In general, however, the economic response to the globalization is economic restructuring from the Fordist industries to 'flexible specialization'. And the political response to the globalization is 'global localization' as a new type of local politics(i.e., local policy activism or growth-enhancing local development policies). The crisis of Fordism shifted the role of local governments towards more involovement with local economic development. Local governments are mobilizing for loca economic development, they are taken into a process of institutional change that tends to redefine their responsibilities inside the state. Local governments thus tend to act as an entrepreneur in order to restructure theiir local economies and to compete with other national and international regions. State restructuring towards enerepreneurialism and efficient regional policy pursuing a pro-growth coalition trategy is chosen as a new mode of regulation for the post-Fordism at the local level. The flexible specialization as the post-Fordist economy and the local government as an entrepreneur are the global choice for globalization and a post-Fordist society. The paper focuses on the regulation theory which comprises the political economic perspective on resturcturing. Economic restructuring and state restructuring will be discussed in detail. And the paper tries to combine the economic globalization and the global localization as economic and political responses to globalization.

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A Study on the Success Factors of Co-Founding Start-up by Step: Focusing on the Case of Opportunity-type Start-up (공동창업의 단계별 성공요인에 관한 연구: 기회형 창업기업 사례를 중심으로)

  • Yun, Seong Man;Sung, Chang Soo
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.18 no.1
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    • pp.141-158
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    • 2023
  • From the perspective of an entrepreneur, one of the most important factors for understanding the inherent limitations of a startup, reducing the risk of failure, and succeeding is the composition of the talent, that is, the founding team. Therefore, a common concern experienced by entrepreneurs in the pre-entrepreneurship stage or the early stage of startup is the choice between independent startups and co-founding start-up. Nonetheless, in Korea, the share of independent entrepreneurship is significantly higher than that of co-founding start-up. On the other hand, focusing on the fact that many successful global innovative companies are in the form of co-founding start-up, the success factors of co-founding start-up were examined. Most of the related preceding studies are studies that identify the capabilities and characteristics of individual entrepreneurs as factors influencing the survival and success of entrepreneurship, and there is a lack of research on partnerships, that is, co-founding start-up, which are common in the field of entrepreneurship ecosystems. Therefore, this study attempted a multi-case study through in-depth interviews, collection of relevant data, analysis of contextual information, and consideration of previous studies targeting co-founders of domestic startups that succeeded in opportunistic startups. Through this, a model for deriving the phased characteristics and key success factors of co-founding start-up was proposed. As a result of the study, the key element of the preliminary start-up stage was 'opportunity', and the success factors were 'opportunity recognition through entrepreneur's experience' and 'idea development'. The key element in the early stages of start-up is "start-up team," and the success factor is "trust and complement of start-up team," and synergy is shown when "diversity and homogeneity of start-up team" are harmonized. In addition, conflicts between co-founders may occur in the early stages of start-ups, which has a large impact on the survival of start-ups. The conflict between the start-up team could be overcome through constant "mutual understanding and respect through communication" and "clear division of work and role sharing." It was confirmed that the core element of the start-up growth stage was 'resources', and 'securing excellent talent' and 'raising external funds' were important factors for success. These results are expected to overcome the limitations of start-up companies, such as limited resources, lack of experience, and risk of failure, in entrepreneurship studies, and prospective entrepreneurs preparing for a start-up in a situation where the form of co-founding start-up is attracting attention as one of the alternatives to increase the success rate. It has implications for various stakeholders in the entrepreneurial ecosystem.

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Temperament and Character of Entrepreneurial Gifted Students (청소년 기업영재의 기질 및 성격 특성)

  • Choi, MinGyeong;Lee, HangEun
    • Journal of Gifted/Talented Education
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    • v.23 no.1
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    • pp.89-107
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    • 2013
  • Research on entrepreneurial giftedness is in its initial stage and the importance is increasing these days. The purpose of this article was to provide a standard type of entrepreneurial gifted students by measuring their temperament and character separately. In the year of 2010 to 2011 participants of 'Future Creative Entrepreneur' projects which was governed by Korean Patent Office and Korean Intellectual Property Association participated the present study. They composed of middle and high school students and the total number of them was 246. For all the 7 temperament and character scales; the novelty seeking, the harm avoidance, the reward dependence, the persistence, the self-directedness, cooperativeness, and self-transcendence, scores of the entrepreneurial gifted students were significantly different from the norm group (average students at the same age). In a nut shell, entrepreneurial gifted students were optimistic in their temperament and mature in their character. They also manifested high ability of adjustment and control so they can manage their features of temperament which include all the advantages and weaknesses. The Entrepreneurial gifted students were differentiated from gifted science and math students, academically competent group, and high IQ group. Implications and further research directions were discussed.

A Study on the Influence of Young Entrepreneurs' Entrepreneurship and Entrepreneurial preparation upon the Entrepreneurial Performance: Centered on Mediated Effect of Entrepreneurial infra system using (기업가정신과 창업준비가 사업성과에 미치는 영향에 관한 연구: 창업인프라 활용 매개효과 중심으로)

  • Park, Jaehwan;Ahn, Taeuk
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.11 no.1
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    • pp.39-47
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    • 2016
  • Younger starters to be ready on the entrepreneurial performance and raising and producing potential creative person who demonstrates entrepreneurial spirit are not only important factor for added value creation along with national growth but also economic development to join the ranks of advanced countries. Thereby, a lots of interests and supports are focused in entrepreneurship and the startup activities. However, to create business achievement, we should nurture successful entrepreneurship based on using infrastructure in entrepreneurial ecosystem induced by aggressive investments and supports of the policy. Therefore, this study is empirical test of 203 young CEO of techniques which possibly create added value and national development, inventive type in knowledge service and opportunity type. Research finding is that entrepreneurship and entrepreneurial preparation have meaningful effects on the performance and the ready state. Entrepreneurship has no direct effects on entrepreneurial infra system. Entrepreneurial preparation has meaningful effects on entrepreneurial infra system. We induced that it is hard to earn business achievement by only using entrepreneurial infra system in that entrepreneurial infra system has no effect on business achievement. Lastly, entrepreneurship infra system has no relationship as mediating effects with effects of entrepreneurship on business achievement in mediating effect test. While young CEOs with entrepreneurship create business achievement without using entrepreneurship infra, entrepreneurship infra has relationship as mediating effect with effect of entrepreneurial preparation on business achievement. Namely, we induced the result that using entrepreneurship infra aggressively improve achievement in entrepreneurial preparation. Through this study, we need entrepreneurship education for young CEOs and effort to develop entrepreneur's competence to improve achievement and we concluded that approaching systematically in entrepreneurial preparation and using various entrepreneurship infra aggressively are important factors to improve achievement.

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Effects of Entrepreneurship Motivation on Entrepreneurial Opportunity Competence in Preliminary Young Entrepreneurs: Focusing on Mediating Effects Of Entrepreneurial Efficacy and Entrepreneurial Orientation (예비청년창업가의 창업동기가 창업기회역량에 미치는 영향: 창업효능감과 기업가지향성의 매개변수의 효과 중심으로)

  • Shan, Liang;Heo, Chul Moo
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.14 no.1
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    • pp.117-137
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    • 2019
  • In young entrepreneurs, the individual situation of opportunity discovery is very important. It is very important that the opportunities that are created for a particular individual entrepreneur are also recognized and assessed through the process. The need for the development of entrepreneurial opportunity competencies, which have a low proportion of opportunistic entrepreneurship, is low in the entrepreneurship education. In particular, young entrepreneurs are in desperate need of opportunistic entrepreneurship. The purpose of this study is to examine the effect of entrepreneurship motivation on entrepreneurial opportunity competence, using entrepreneurial orientation and entrepreneurship orientation as mediation variables for preliminary young entrepreneurs (19-39 old). In the case of young entrepreneurs, there is a tendency to study entrepreneurship policies and education through the system of youth entrepreneurship schools, mainly on college students and youths, and on the effects of institutional support on entrepreneurship. There is little research on the effect of a entrepreneurial motivation on the entrepreneurial opportunity competence needed to promote an entrepreneurial venture in a model with multiple mediators. The purpose of this study is to investigate the effect of start - up motivation on the entrepreneurial opportunity competence. To do this we analyzed 374 questionnaires collected from preliminary young entrepreneurs in Seoul and Gyeonggi provinces. The results of the analysis using SPSS v22.0 and Process macro v3.0 showed that the motivation of start - up had a significant effect on both opportunity recognition and opportunity evaluation of entrepreneurial opportunity competence. Second, motivation of entrepreneurs has a significant effect on entrepreneurial efficacy. Third, entrepreneurial efficacy has a significant effect on entrepreneurial orientation. Fourth, entrepreneurial orientation has a significant effect on entrepreneurial opportunity competence. Fifth, there is a significant indirect effect between entrepreneurial motivation and entrepreneurial opportunity recognition when passing through entrepreneurial orientation, entrepreneurial efficacy and entrepreneurial orientation at the same time, But indirect effects was insignificant when only entrepreneurship efficacy is passed. There is a significant indirect effect on all mediators between entrepreneurial motivation and entrepreneurial opportunity valuation. It is suggested that strengthening education on entrepreneurship is necessary to cultivate awareness of entrepreneurship opportunities and strengthening education on both entrepreneurial efficacy and entrepreneurship is necessary to cultivate evaluation of entrepreneurship opportunities by type of entrepreneurial motivation.