• 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.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.3
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• pp.127-139
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• 2023

During the process of preparing for and initiating a startup, startup entrepreneurs allocate a significant amount of time to developing a business plan. Within this process, the documented business plan serves not only as a roadmap for the venture but also as a communication tool for capital acquisition and internal team collaboration. However, is the business plan, meticulously crafted by entrepreneurs, actually effective in generating startup performance? To answer this question, this study empirically analyzed the impact of a business plan on startup performance. Additionally, it examined how the relationship between the business plan and performance changes based on the satisfaction levels of entrepreneurs regarding the business plan. Through the analysis, the study validated the influence of the completeness of the business plan and entrepreneurial satisfaction on startup performance, and derived implications. To conduct the empirical analysis, a survey was conducted among 150 entrepreneurs. Regression analysis was performed to examine the relationship between the completeness of the business plan and performance, and the sample was further divided into two groups: startups with less than three years of operation and startups with three or more years of operation, for secondary analysis. The analysis results revealed that the completeness of the startup's business plan has a positive impact on both financial and non-financial performance. Furthermore, it is observed that the entrepreneur's satisfaction with the business plan had a moderating effect on the relationship between the business plan and financial performance. Moreover, for startups that are less than three years old, the entrepreneur's satisfaction with the business plan exhibits a moderating effect on the relationship between the completeness of the business plan and non-financial performance. This study holds significance as it reaffirms the importance of business plan development as a means to achieve sustainable growth for early-stage startups and empirically validates its significance. It is expected that this study will provide valuable insights for future startup entrepreneurs to better understand the importance of business planning and contribute to reducing the failure rate of early-stage startups.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.15 no.1
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• pp.151-165
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• 2020

Recently, the government has been spending a large amount of money to support start-ups with its major policies aimed at economic growth and job creation under the keynote of innovative growth. Nevertheless, the Global Entrepreneurship Development Institute (GEDI) gave a very low assessment of the social and cultural support areas of Korea's start-up ecosystem in the 2018 Global Entrepreneurship Index (GEI), indicating that unlike the government's interest, our perception of start-ups has not been positive. This study surveyed 300 prospective entrepreneurs and entrepreneurs. In addition, this study empirically analyzes how social support of those around them is related to their entrepreneurial intentions and behaviors. As a result, it was not possible to confirm whether social support affects entrepreneurial intentions, but social support had positive influences on entrepreneurial behaviors. In addition, social support was found to have positive influences on entrepreneurial behaviors with dual mediation of entrepreneurial self-dfficacy and entrepreneurial intentions. Therefore, it was confirmed that social support is a factor that influences entrepreneurial behaviors and that entrepreneurial self-efficacy has important parametric effects. The findings of this study suggest that the government and entrepreneurship support agencies need to reflect programs in start-up support poject to promote social support for start-ups and to enhance entrepreneurial self-efficacy.

• Journal of Information Technology Applications and Management
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• v.30 no.6
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• pp.31-52
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• 2023

The government's various support policies have helped Korea's SMEs and startups to grow from the beginning to the end, from domestic companies to exporters. In particular, direct business support policies such as financial support, R&D projects, and export support have been effective in helping a large number of entrepreneurs and startup companies to establish themselves in the market and have achieved tangible results every year since the establishment of the Ministry of SMEs and Startups. As such, the government is making significant efforts to create and promote various types of support policies and to help companies utilize them in their business. However, this study aims to analyze the factors that affect the satisfaction of government policies and the achievement of managerial performance from the companies' perspective and to suggest the purpose of government support policies and the direction companies should take. Specifically, this study categorizes entrepreneurial self-efficacy into marketing, innovation, management, risk-taking, and financial management, using the relationship model of self-efficacy and collective efficacy to ultimately lead to practical results for SMEs and startups support policies. It uses perceived firm efficacy as a variable to reveal the influence relationship. In addition, the direct and mediating effects of entrepreneurial self-efficacy and policy satisfaction on managerial performance were analyzed to determine what SMEs and startups support policies should do. The results showed that, first, among the five components of entrepreneurial self-efficacy, innovation, and risk-taking efficacy positively affected perceived firm efficacy. Second, the specific components of entrepreneurial self-efficacy, marketing, and financial management efficacy positively influenced policy satisfaction. Third, we found that perceived firm efficacy positively influenced policy satisfaction and managerial performance, which are factors of SMEs and startups' policy performance. Specifically, perceived firm efficacy positively influenced policy satisfaction managerial performance. Fourth, we found that policy satisfaction positively influenced managerial performance.

• International Commerce and Information Review
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• v.7 no.2
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• pp.49-74
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• 2005

E-business has received much attention from entrepreneurs, executives, investors, and industry observers recently. The Internet is flourishing and the World Wide Web is growing at an exponential rate In recent years, information has become the critical commodity needed for success in the changing global economic order. Accordingly, business organizations have come to the conclusion that they require an extensive data repository in order to acquire a competitive advantage in a dynamically change market. This rich assortment of data must further be delivered and deliverable enterprise-wide in a secure and cost-efficient manner. Information technology(IT) has created the E-business as a vitally important mechanism for the storage, dissemination, and even the analysis data. The E-business has become increasingly important to a growing number of organizations in Korea in relatively short order. The present study is an attempt to develop a more through understanding of the potential and actual impact of the E-business on organizational functions and activities. Expecially, it also consists of an effort to assess the impact of the E-business on productivity. The research also addresses the issue of how the E-business affects productivity and shapes or modifies business activities. The results of literature review and study revealed that middle managers believe that the extent of the E-business use is significantly related to improvements in overall organizational functions and activities. While communication, decision-making, productivity, work collaboration, and business activities are all enhanced by E-business use, productivity appears to be most dramatically improved by Intranet use.

• Asia-Pacific Journal of Business
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• v.2 no.1
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• pp.1-22
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• 2011

Chamber of commerce and industry plays important role for development of business community and creating vibrant competition. Present paper compares chambers operations in Bangladesh, especially, Sylhet Chamber of Commerce and Industry(SCCI) by reviewing global models of chambers practices. The study identifies important gaps between international standards and Bangladesh practices. Mostly practiced chambers model in the world are: Continental Model, Anglo-Saxon Model and Mixed model or Asian model. Like other Asian countries, chambers in Bangladesh including SCCI, have been following Mixed Model. The empirical study found that SCCI is performing different developmental functions like accumulating members, collecting revenue, fulfilling corporate social responsibility and providing business development services to its members and business community. The notable constraining factors of SCCI operations are: short term orientation in assembling members, limited functional activities, lack of creative endeavors in diversifying services, linkage between SCCI and academic institutions, poor research involvement etc. The necessary suggestions for improvement of chambers performance include adoption of creative measures in various operations, providing training to the members, assisting entrepreneurs in obtaining industrial finance and extending support in the establishment of specialized industrial zone for attaining long term developmental objectives.

• Management & Information Systems Review
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• v.18
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• pp.133-161
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• 2006

E-business has received much attention from entrepreneurs, executives, investors, and industry observers recently. The Internet is flourishing and the World Wide Web is growing at an exponential rate. In recent years, information has become the critical commodity needed for success in the changing global economic order. Accordingly, business organizations have come to the conclusion that they require an extensive data repository in order to acquire a competitive advantage in a dynamically change market. This rich assortment of data must further be delivered and deliverable enterprise-wide in a secure and cost-efficient manner. Information technology(IT) has created the E-business as a vitally important mechanism for the storage, dissemination, and even the analysis data. The E-business has become increasingly important to a growing number of organizations in Korea in relatively short order. The present study is an attempt to develop a more through understanding of the potential and actual impact of the B-business on organizational functions and activities. Expecially, it also consists of an effort to assess the impact of the E-business on profitability. The research also addresses the issue of how the E-business affects profitability and shapes or modifies business activities. The results of literature review and study revealed that middle managers believe that the extent of the I-business use is significantly related to improvements in overall organizational functions and activities. While communication, decision-making, productivity, work collaboration, and business activities are all enhanced by E-business use, profitability appears to be most dramatically improved by Intranet use.

• International Journal of Costume and Fashion
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• v.18 no.2
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• pp.65-83
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• 2018

The purpose of this study was to explore the dynamics of the newly emerging designer fashion market and examine how startup designers reacted to the tension between creativity and business, and how they grew within such dynamics. In-depth interviews were conducted with 22 DFE entrepreneurs and 7 fashion industry experts. The grounded theory was used to analyze data and yield results. Korean new generation of DFEs, attracted by the growing online market opportunities are directly distributing through online channels, targeting the millennial consumers who are pursuing new values at new distribution channels. They show new growth pattern, start with a few key items in the middle and lower price segments, then upscale their design, quality, and price. This study further investigated designers' enterprise orientation shift, which was explored by Mills. Some creativity-oriented designers encountered difficulties in the orientation shift, while designers who demonstrated business characteristics from the startup stage restored the balance by trying to improve both creativity and business. This study discovered a new way for the designer to enter the growth stage. This growth approach is one of the success strategies applicable to designers launching a brand on online platforms in the global market.

• International Area Studies Review
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• v.20 no.4
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• pp.57-72
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• 2016

This Paper investigates the role of wealth distributions and Financial institutions of an economy on within-industry firm heterogeneity in productivity. If there is no Financial imperfection so that entrepreneurs are not constrained in borrowing all of them make the same, productivity-enhancing investment. International Trade industry average productivity also increases the avoidance of capital and international capital movements developing countries linked by lead industry cuts in global investing. International Trade of goods, on the other hand, amplifies this impact of capital mobility when capital structures the countries.

• Korea Trade Review
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• v.46 no.5
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• pp.153-171
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• 2021

The purpose of this study is to compare and derive the importance of motivating factors for start-up when deciding to start a business in the logistics and trading industries, and to compare, derive, and identify which motivating factors have an important influence on the start-up decision. In this study, 4 high-level factors such as career factors, policy/institutional factors, environmental factors, and economic factors and 12 low-level factors were derived from those four factors. Based on this, a questionnaire was distributed to established and prospective entrepreneurs, and the results were analyzed using the AHP (Analytic Hierarchy Process) technique. Manufacturing companies recognized the individual's capabilities and government support for them as important. Beside, service companies recognized the industrial environment that could generate economic benefits as important. Although there are differences in perception by group, it can be seen that factors that are recognized as important within each group have connectivity and show the same directivity.