• Title/Summary/Keyword: growth-promotion

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An Empirical Study on Classification, Business Type, Organizational Culture on Performance of Korean IT SMEs·Venture (중소·벤처기업의 업종, 영업형태, 조직문화가 기업성과에 미치는 영향에 관한 연구: 삼원분산분석(3-way ANOVA)을 중심으로)

  • Roh, Doo-Hwan;Hwang, Kyung-Ho
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.14 no.2
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    • pp.221-233
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    • 2019
  • In Korea, small and medium sized domestic enterprises(SMEs) play an pivotal role in the national economy, accounting for 99.9% of all enterprises, 87.9% of total employment, and 48.3% of production. and SMEs was driving a real force of the development of national economy in many respects such as innovation, job creation, industrial diversity, balanced regional development. Despite their crucial role in the national development, most of SMEs suffer from a lack of R&D capabilities and equipments as well as funding capacity. Public R&D institutes can provide SMEs with valuable supplementary technological knowledge and help them build technological capacity. so, In order to effectively support SMEs, government and public R&D institutes must be a priority to know about the factors influencing the performance related to technology transfer and technological collaborations. In particular, SMEs are not only taking up a large portion of the national economy, but also their influence in politics and economy so strong that raising the competitiveness of small and medium-sized companies is a national policy goal that must be achieved in order to achieve sustained economic growth. For this reason, it is necessary to look specifically at the relationship between concepts such as the environment, strategy, and organizational culture surrounding the enterprise to enhance the competitiveness of SMEs. The paper analyzes 665 companies to find out which organizational culture affects their performance by classification and type of business of SMEs. This study demonstrated that when SMEs seek consistency in their external environment, strategies, and organizational structure to maintain their continued competitiveness. According to three-way analysis of variance (3-way ANOVA) indicates that classification of industries in SMEs has statistically significant main effects, but the type of business and organizational culture do not have significant effects. However, the company's organizational performance (operating profit) of SMES were found to differ significantly in comparison between groups according to classification standards of industries, and therefore adopted some parts. In addition, an analysis of the effect of interaction between the three independent variables of small and medium-sized enterprises has shown that there are statistically significant interaction effects among classification, types of business, and organizational cultures. The results shows that there is an organizational culture suitable for each industry classification and type of business of an entity, and is expected to be used as a basis for establishing promotion policies related to the incubation and commerciality of small and medium-sized venture companies in the future.

Distribution Types of the Relict Conifer Community and the Approach for the Ecological Management in Ulleung-Island (울릉도에 자생하는 침엽수류 유존군락의 분포유형과 생태적 관리방안에 대한 연구)

  • Cho, Hyun-Je;Lee, Jung-Hyo;Choo, Yeon-Sik;Hong, Sung-Cheon
    • Journal of Korean Society of Forest Science
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    • v.100 no.1
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    • pp.95-104
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    • 2011
  • Distribution types of native conifers (Juniperus chinensis, Pinus parviflora, Tusga sieboldii and Taxus cuspidata var. latifolia) were studied by phytosociological investigation and ZM method in Ulleung Island, South Korea. Two main types were divided maritime vegetation (Juniperus chinensis forest) and mountain vegetation (Taxus cuspidata var. latifolia forest and Pinus parviflora-Tusga sieboldii forest). The former was divided into sea cliff distribution (J-SC) and sea ridge distribution (J-SR) type. The latter was classified 7 distribution types; Taxus cuspidata var. latifolia forest was rock distribution (Ta-R) and mountain slope distribution (Ta-MS) type, and Pinus parviflora-Tusga sieboldii forest was rock distribution (P T-R), upper and ridge distribution (P T-UR, 3 units sub-types:1sub, 2sub, 3sub), and Mountain slope distribution (P T-MS) type. It was considered that J-SC, Ta- R, and P T-R were maintained by topographic climax, but J-SR, Ta-MS, P T-UR and P T-MS were the process of vegetation succession. Distribution types of topographic climax are entrusted to process of vegetation succession. Types in the process of vegetation succession will be needed tending of forest to promote saplings growth and seedlings germination. Especially in order to restore Tsuga sieboldii forest should be afforest and make forest gap because It is mid shade tolerant tree and purity percentage of its seed is 1~2%. It was considered that the composition of group mixture forest constituted Pinus parviflora, Tsuga sieboldii, Taxus cuspidata, Camellia japonica, Machilus thunbergii and Acer okamotoanum, etc. will be able to restore native vegetation, after take the form of forest gap by strong thinning and pruning of Pinus thunbergii forest.

The Verification of Physique and Physical Fitness Differences Through Bone Age and Chronological Age Among Adolescents (청소년들의 골연령과 역연령을 통한 체격과 체력의 차이 검증)

  • Kim, Dae-Hoon;Yoon, Hyoung-Ki;Oh, Sei-Yi;Lee, Young-Jun;Kim, Buem-Jun;Choi, Young-Min;Song, Dae-Sik;An, Ju-Ho;Seo, Dong-Nyeuck;Kim, Ju-Won;Na, Gyu-Min;Oh, Kyung-A
    • Journal of the Korean Applied Science and Technology
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    • v.38 no.1
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    • pp.318-331
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    • 2021
  • This study was conducted on the assumption that bone age would be more effective when it comes to physique and physical fitness assessment for adolescents, and the purpose of this study was to identify the differences in physique and physical fitness for students in their adolescence through bone age and chronological age in order to contribute to the well-balanced physique and physical fitness development in adolescents and the health improvement in students. Total 874 adolescents(483 males, 391 females) aged 11~16 were selected as subjects out of the total population of 1100 adolescents aged 6~16 based on the PAPS(Physical Activity Promotion System) and age standards of the TW3 method; and skeletal maturation, which symbolize the indicators of biological maturation, were evaluated by using the TW3(Tanner-Whitehouse 3) method after hand-wrist radiographs, and birth date was used for chronological age. A stadiometer and InBody 270 (Biospace, Korea) were used to measure 2 components in physique. A total of 7 components in physical fitness, which included muscular strength, muscular endurance, flexibility, power, cardiovascular endurance, balance, agility, were measured as well. A independent samples t-test was conducted for data processing using SPSS 25.0, and the significance level was set at p< .05. The study results are as follows. First, bone age and chronological age used for physique comparison in males aged 11 and 12, height and weight showed significant difference; in males aged 13, weight showed signicant difference. Weight and height in females aged 11, and height in females aged 12 showed significant difference. Second, bone age and chronological age used for physical fitness comparison in males aged 11, muscular strength, power, flexibility, cardiovascular endurance showed significant difference; in males aged 12, muscular strength. power, cardiovascular endurance; in males aged 13, flexibility showed significant difference. Muscular strength, power, flexibility, muscular endurance, cardiovascular endurance in females aged 11, and flexibility in females aged 14 showed significant difference. As a result, this study concluded that in a period of rapid skeletal growth, evaluating physique and physical fitness based on bone age is more accurate than evaluating based on chronological age.

Relationship between Compulsory Employment System for persons with Disabilities and Health Status (장애인 의무고용제도와 건강상태 간의 연관성)

  • You, Jin Ha;Kim, Ye Won;Yang, Jeong Min;Kim, Jae Hyun
    • Korea Journal of Hospital Management
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    • v.27 no.2
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    • pp.53-66
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    • 2022
  • Aim : The purpose of this study is to investigate the influence of the awareness level of the mandatory employment system for the disabled and the help of the employment increase on the health status of the disabled. Based on this, the purpose of this study is to raise awareness of the compulsory employment system for the disabled and to suggest a way to improve the health of the disabled. Methods : In this study, the first data of the second wave of the 2016-2018 Employment Panel Survey for the Disabled was used to analyze the participation of the disabled in economic activities. a total of 1,648 subjects were analyzed using the chi-square test and generalized estimating equation (GEE). Results : Compared to the group knowing about the compulsory employment system for the disabled, in the group who did not know about the compulsory employment system, the cognitive level was significantly higher for subjective health status (Odds Ratio [OR]: 1.573, 95% Confidence Interval [CI]: 1.252-1.977) and chronic diseases (OR: 1.407, 95% CI: 1.091-1.816), Compared to the group that the compulsory employment system for the disabled is helpful in increasing employment, the group that said it was not helpful at all had depression feel (OR: 2.330, 95% CI: 1.219-4.452) and subjective health status (OR: 2.052, 95% CI: 1.232. -3.416) significantly affected. Conclusion : It was found that the lower the level of awareness and help of the compulsory employment system for the disabled, the negative impact on their health status. Therefore, it is necessary to promote employment growth by raising awareness of the employment system for the disabled. Furthermore, in order to improve the health of the disabled, public relations plans to increase the understanding of the disabled on the system and policies to protect the disabled people who lose their will to work due to difficulties in accessing employment were enacted, and Changes to a disability-friendly working environment should be activated so that participants can participate.

Antioxidant and Antiwrinkle Effects of Persimmon Leaves extract (시엽(Persimmon Leaves) 에탄올 추출물의 항산화와 항주름 효과)

  • Sung-Hee Kim;Dong-Hee Kim;Wi-Hye Yeon;Jin-Tae Lee;Young-Ah Jang
    • Journal of the Korean Applied Science and Technology
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    • v.40 no.3
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    • pp.534-546
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    • 2023
  • In this study, we investigated the antioxidant and anti-winkle activity in human fibroblast cell (CCD-986sk) of Persimmon Leaves (PL) as a cosmetic ingredient. As a result of investigating antioxidant activity through electron-donating ability and ABTS+ radical scavenging assay, the PL showed concentration-dependent antioxidant activity similar to ascorbic acid, a control group, at a concentration of 1,000 ㎍/ml. As a result of investigating the anti-wrinkle effect through elastase inhibition and collagenase inhibition assay, the PL showed concentration-dependent antioxidant activity similar to epigallocatechin gallate, a control group, at a concentration of 1,000 ㎍/ml. As a result of measuring the synthesis rate of pro-collagen type I and the inhibition rate of MMP-1 in UVB-induced CCD-986sk cells, the control group EGCG showed a 90.2% pro-collagen synthesis rate at 20 ㎍/ml and PL showed an 88.5% synthesis rate at 30 ㎍/ml. In addition, the inhibition rate of MMP-1 of 33.0% and 40.8% were confirmed in EGCG 20 ㎍/ml and PL 30 ㎍/ml, respectively. As a result of measuring the protein expression of pro-collagen type I and MMP-1 in the PL through western blot, it was confirmed that the protein expression of pro-collagen type I increased, and MMP-1 decreased when the PL was treated together compared to the UVB alone group. According to the above experimental results, it is expected to be used as a natural product material for cosmetics by confirming that the PL prevent photoaging caused by UVB stimulation and have antioxidant and anti-wrinkle effects.

Study on the Discovery and Spread of Local Folk Songs: In the Case of Memil-dorikkaejil-sori (지역민요의 발굴과 확산: 메밀도리깨질소리 사례)

  • Lee, Chang-Sik
    • (The) Research of the performance art and culture
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    • no.40
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    • pp.193-222
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    • 2020
  • In this study, the development of traditional contents is to be enabled to succeed the values of the heritage on the song sang during dry-field farming of Bongpyeong Memil-dorikkaejil-sori. In addition, the identity on the heritage of songs sang during farming were diagnosed, and their value in context with the history and the value as the community for succession are emphasized as the value of cultural asset to expand the discussion up to the level of traditional cultural industry works. In the Bongpyeong Memil-dorikkaejil-sori, the intrinsic artistic value, the excellence of value as the educational experience, factor for overcoming the extinction of farming songs, and the promotion direction of the storytelling on buckwheat were provided. This is breaking from the formalization and being old-fashioned on the Bongpyeong Memil-dorikkaejil-sori to focus on the symbolization of the agricultural heritage in the modern context, habituating and spreading the gene of slash-and-burn field (hwajeon or budaeki). In terms of methodology on awareness, historicity or creativity, alternative method on the folk songs in labor was provided by having critical mind on the Bongpyeong Memil-dorikkaejil-sori and buckwheat songs. By reviewing the field contextualization of designating the intangible cultural asset, suggestions were made on activating the succession, and even the method of symbolic registration on the heritage of buckwheat farming was mentioned. Heritage on agricultural culture that can represent Pyeongchang and Gangwon must be discovered to be made into a brand. In addition, the uniqueness in the Madang 'Song Madaengi Traditional Music' must be found to apply as the brand on the point in which the people around the world can have consensus for utilization. As the farming song, rediscovery of the Bongpyeong Memil-dorikkaejil-sori is required to create the sustainable status as the multi-purpose cultural contents and provide the network of professionals for activating the folk songs to enable the opportunity of qualitative substantiality and spread instead of quantitative growth. In addition, festivals for each region, especially the festival for Pyeongchang area must be utilized centrally on the development of farming songs to organize the storytelling actively.

Changes in Domestic Perception of Overseas Korean Cultural Heritage Explored through Exhibitions Held in Korea (국내 전시 사례로 본 국외 소재 한국 문화재에 대한 국내의 인식 변화)

  • Shin Soyeon
    • Bangmulgwan gwa yeongu (The National Museum of Korea Journal)
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    • v.1
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    • pp.330-355
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    • 2024
  • There are two main perspectives in Korea on Korean cultural heritage located overseas: one views it as items that need to be repatriated since they were scattered abroad under unfortunate historical circumstances. The other considers them as a means to more widely promote Korea's culture and long history. A shift in perspective has gradually been taking place in the decades since Korea's liberation from Japanese colonial rule in 1945. This can be noted through three major types of exhibitions. The first type is exhibitions of repatriated cultural heritage that showcase items that were illegally removed from the country but later returned or otherwise acquired through purchase or donation. The Special Exhibition of Returned Cultural Heritage, which was held in 1966 on the occasion of the normalization of diplomatic relations between the Republic of Korea and Japan, emphasized the legitimacy of reclaiming cultural properties that were illegally removed from Korea during the period of Japanese colonial rule. Around the 1990s, special exhibitions of private donations were held, which also highlighted the legitimacy of repatriation. The special exhibition of the Oegyujanggak Uigwe (Royal Protocols of the Joseon Dynasty from the Outer Royal Library) held in 2011 was seen as an opportunity to raise public interest in repatriation, heal the wounds of history, and restore the nation's cultural pride. The second type of exhibition involves borrowing and displaying overseas Korean cultural heritage in accordance with a theme as a means to reenergize and provide a comprehensive view of Korean culture. The exhibitions National Treasures from the Goryeo Dynasty in 1995 and National Treasures from the Early Joseon Dynasty in 1997 (both held at the Hoam Museum of Art) and the Masterpieces of Goryeo Buddhist Painting held at the National Museum of Korea in 2010 underscored the importance of overseas Korean cultural heritage for exploring Korean cultural history. The third type is special exhibitions on the history of the collection of Korean cultural heritage. With Korea's economic growth in the 1980s and the increase in exhibitions and the number of galleries featuring Korean cultural heritage in overseas museums in the 1990s, interest in the history of acquisition also grew. Exhibitions like The Korean Collection of the Peabody Essex Museum in 1994 and Korean Art from the United States in 2012 introduced overseas galleries focused on Korean art and the diverse history of collecting Korean cultural properties. They also examined the perception of Korean art in the United States. These efforts heightened public interest in establishing and supporting Korean galleries abroad. The initiation of more systematic surveys and research on Korean cultural heritage located abroad and the contribution of overseas Korean cultural heritage to the enhancement of the local understanding and promotion of Korean culture have resulted in changes to the perception of overseas Korean cultural heritage in Korea.

A Study on Web-based Technology Valuation System (웹기반 지능형 기술가치평가 시스템에 관한 연구)

  • Sung, Tae-Eung;Jun, Seung-Pyo;Kim, Sang-Gook;Park, Hyun-Woo
    • Journal of Intelligence and Information Systems
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    • v.23 no.1
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    • pp.23-46
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    • 2017
  • Although there have been cases of evaluating the value of specific companies or projects which have centralized on developed countries in North America and Europe from the early 2000s, the system and methodology for estimating the economic value of individual technologies or patents has been activated on and on. Of course, there exist several online systems that qualitatively evaluate the technology's grade or the patent rating of the technology to be evaluated, as in 'KTRS' of the KIBO and 'SMART 3.1' of the Korea Invention Promotion Association. However, a web-based technology valuation system, referred to as 'STAR-Value system' that calculates the quantitative values of the subject technology for various purposes such as business feasibility analysis, investment attraction, tax/litigation, etc., has been officially opened and recently spreading. In this study, we introduce the type of methodology and evaluation model, reference information supporting these theories, and how database associated are utilized, focusing various modules and frameworks embedded in STAR-Value system. In particular, there are six valuation methods, including the discounted cash flow method (DCF), which is a representative one based on the income approach that anticipates future economic income to be valued at present, and the relief-from-royalty method, which calculates the present value of royalties' where we consider the contribution of the subject technology towards the business value created as the royalty rate. We look at how models and related support information (technology life, corporate (business) financial information, discount rate, industrial technology factors, etc.) can be used and linked in a intelligent manner. Based on the classification of information such as International Patent Classification (IPC) or Korea Standard Industry Classification (KSIC) for technology to be evaluated, the STAR-Value system automatically returns meta data such as technology cycle time (TCT), sales growth rate and profitability data of similar company or industry sector, weighted average cost of capital (WACC), indices of industrial technology factors, etc., and apply adjustment factors to them, so that the result of technology value calculation has high reliability and objectivity. Furthermore, if the information on the potential market size of the target technology and the market share of the commercialization subject refers to data-driven information, or if the estimated value range of similar technologies by industry sector is provided from the evaluation cases which are already completed and accumulated in database, the STAR-Value is anticipated that it will enable to present highly accurate value range in real time by intelligently linking various support modules. Including the explanation of the various valuation models and relevant primary variables as presented in this paper, the STAR-Value system intends to utilize more systematically and in a data-driven way by supporting the optimal model selection guideline module, intelligent technology value range reasoning module, and similar company selection based market share prediction module, etc. In addition, the research on the development and intelligence of the web-based STAR-Value system is significant in that it widely spread the web-based system that can be used in the validation and application to practices of the theoretical feasibility of the technology valuation field, and it is expected that it could be utilized in various fields of technology commercialization.

Study of The Area of Nursing Need by the Family Developmental Stage (가족발달단계에 따른 간호요구영역에 관한 연구)

  • 최부옥
    • Journal of Korean Academy of Nursing
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    • v.7 no.2
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    • pp.43-59
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    • 1977
  • The Community Health Service considers the family as a service unit and places the emphasis of its service on the health problems and the nursing needs of the family rather than the individual. From the conceptual point of view that tile community health service is both health maintenance and health promotion of the family, the community health nurse should have a knowledge of the growth and development of the family and be responsible for the comprehensive support of normal family development. The community health nurse often is in a position to make a real contribution to normal family development. In order to investigate the relationship between the areas of nursing need and family development, the following objectives were established 1. To discover the general characteristics of the study population by the stage of family development. 2. To discover specific nursing needs in relation to the family developmental stage, and to determine the intensity of the nursing needs and the ability of the family to cope with these needs. 3. To discover overall family health nursing problems in relation to the family developmental stage and determine the intensity of the nursing need and the problem solving ability of family. Definitions : The family developmental stages as classified by Dually were used stage 1. Married couples(without children) stage 2. Childbearing Families (oldest child birth to 30 months of age) stage 3. Families with preschool children (oldest child 2½-to 6 years) stage 4. Families with schoolchildren (oldest child 6 to 13 years). stage 5. Families with teenagers (oldest child 13 to 20 years) stage 6. Families as launching centers (first child gone to last child′s leaving home). stage 7. Middle- aged parents (empty nest to retirement) stage 8. Aging family member (retirement to death of both spouses) The areas of nursing need were defined as those used in the study, "A Comprehensive Study about Health and Nursing Need and a Social Diagram of the Community", by tile Nursing research Institute and Center for population. and Family Planning, July 1974. The study population defiled and selected were 260 nuclear families ill two myron of Kang Hwa Island. Percent, mean value and F- test were utilized in tile statistical analysis of the study result. Findings : 1. General characteristics of the study population by tile family developmental stage ; 1)The study population was distributed by the family developmental stage as follows : stage 1 : 3 families stage 2 : 13 families stage 3 : 24 families stage 4 : 41 families stage 5 : 50 families stage 6 : 106 families stage 7 : 13 families stage 8 : 10 families 2) Most families had 4 or 5 members except for those in stage, 1, 7, and 8. 3) The parents′ present age was older in the higher developmental stage and their age at marriage was also younger in the higher developmental stages. 4) The educational level of parents was primarily less than elementary school irrespective of the developmental stage. 5) More than half of parents′ occupations were listed as laborers irrespective of the developmental stage, 6) More than half of the parents were atheists irrespective of the developmental stage. 7) The higher the developmental stage(from stage 2 to stage 6 ), the wider the distribution of children′s ages. 8) More than half of the families were of middle or lower socio-economic level. 2. Problems in specific areas of nursing need by family developmental stage, the intensity of nursing need and the problem solving ability of the family : 1) As a whole, many problems, irrespective of the developmental stage, occurred in tile areas of Housing and Sanitation, Eating Patterns, Housekeeping, Preventive Measures and Dental care. Problems occurring ill particular stages included the following ; stage 1 : Prevention of Accident stage 2 : Preventive Vaccination, Family Planning. stage 3 : Preventive Vaccination, Maternal Health, Family Planning, Health of Infant and Preschooler. stage 4, 5 : Preventive Vaccination, Family Planning, Health of School Children. stage 6 : Preventive Vaccination, Health of School Children. 2) The intensity of the nursing need in the area of Acute and Chronic Diseases was generally of moderate degree or above irrespective of the developmental stages except for stage 1. Other areas of need listed as moderate or above were found in the following stages: stage 1 : Maternal Health stage 3 . Horsing and Sanitation, Prevention of Accident. stage 4 . Housing and Sanitation. stage 5 : Housing and Sanitation, Diagnostic and Medical Care. stage 6 : Diagnostic and Medical care stage 7 : Diagnostic and Medical Care, Housekeeping. stage 8 : Housing and Sanitation, Prevention of Accident, Diagnostic and Medical Care, Dental Care, Eating Patterns, Housekeeping. 3) Areas of need with moderate problem solving ability or less were as follows : stage 1 : Diagnostic and Medical Care, Maternal Health. stage 2 : Prevention of Accident, Acute and Chronic Disease, Dental Care. stage 3 : Housing and Sanitation, Acute and Chronic Disease, Diagnostic and Medical Care, Preventive Measure, Dental Care, Maternal Health, Health of Infant and preschooler, Eating Patterns. stage 4 : Housing and Sanitation, Prevention of Accident, Diagnostic and Medical Care, Preventive Measure, Dental Care, Maternal Health, Health of New Born, Health of Infant and Preschooler, Health of school Children, Eating Patterns, Housekeeping. stage 5 . Housing and Sanitation, Prevention of Accident, Acute and Chronic Disease, Diagnostic and Medical Care, Preventive Measure, Dental Care, Preventive Vaccination, Maternal Health, Eating Patterns. stage 7, 8 : Housing and Sanitation, Prevention of Accident, Acute and Chronic Disease, Diagnostic and Medical Care, Preventive Measures, Dental Care, Preventive Vaccination, Eating Patterns , Housekeeping. Problem occurrence, the degree of nursing need and the degree of problem solving ability 1 nursing need areas for the family as a whole were as follows : 1) The higher the stages(except stage 1 ), the lower the rate of problem occurrence. 2) The higher the stage becomes, the lower the intensity of the nursing need becomes. 3) The higher the stages (except stages 7 and 8), the higher. the problem solving ability. Conclusions ; 1) When the nursing care plan for the family is drawn up, depending upon the stage of family development, higher priority should be give to nursing need areas ① at which problems were shown to occur ② where the nursing need is shown to be above moderate degree and ③ where the problem solving ability was shown to be of moderate degree. 2) The priority of the nursing service should be Placed ① not on those families in the high developmental stage but on those families in the low developmental stage ② and on those areas of need shown in stages 7 and 8 where the degree nursing need was high and the ability to cope low.

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Structural Adjustment of Domestic Firms in the Era of Market Liberalization (시장개방(市場開放)과 국내기업(國內企業)의 구조조정(構造調整))

  • Seong, So-mi
    • KDI Journal of Economic Policy
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    • v.13 no.4
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    • pp.91-116
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    • 1991
  • Market liberalization progressing simultaneously with high and rapidly rising domestic wages has created an adverse business environment for domestic firms. Korean firms are losing their international competitiveness in comparison to firms from LDC(Less Developed Countries) in low-tech industries. In high-tech industries, domestic firms without government protection (which is impossible due to the liberalization policy and the current international status of the Korean economy) are in a disadvantaged position relative to firms from advanced countries. This paper examines the division of roles between the private sector and the government in order to achieve a successful structural adjustment, which has become the impending industrial policy issue caused by high domestic wages, on the one hand, and the opening of domestic markets, on the other. The micro foundation of the economy-wide structural adjustment is actually the restructuring of business portfolios at the firm level. The firm-level business restructuring means that firms in low-value-added businesses or with declining market niches establish new major businesses in higher value-added segments or growing market niches. The adjustment of the business structure at the firm level can only be accomplished by accumulating firm-specific managerial assets necessary to establish a new business structure. This can be done through learning-by-doing in the whole system of management, including research and development, manufacturing, and marketing. Therefore, the voluntary cooperation among the people in the company is essential for making the cost of the learning process lower than that at the competing companies. Hence, firms that attempt to restructure their major businesses need to induce corporate-wide participation through innovations in organization and management, encourage innovative corporate culture, and maintain cooperative labor unions. Policy discussions on structural adjustments usually regard firms as a black box behind a few macro variables. But in reality, firm activities are not flows of materials but relationships among human resources. The growth potential of companies are embodied in the human resources of the firm; the balance of interest among stockholders, managers, and workers of the company' brings the accumulation of the company's core competencies. Therefore, policymakers and economists shoud change their old concept of the firm as a technological black box which produces a marketable commodities. Firms should be regarded as coalitions of interest groups such as stockholders, managers, and workers. Consequently the discussion on the structural adjustment both at the macroeconomic level and the firm level should be based on this new paradigm of understanding firms. The government's role in reducing the cost of structural adjustment and supporting should the creation of new industries emphasize the following: First, government must promote the competition in domestic markets by revising laws related to antitrust policy, bankruptcy, and the promotion of small and medium-sized companies. General consensus on the limitations of government intervention and the merit of deregulation should be sought among policymakers and people in the business world. In the age of internationalization, nation-specific competitive advantages cannot be exclusively in favor of domestic firms. The international competitiveness of a domestic firm derives from the firm-specific core competencies which can be accumulated by internal investment and organization of the firm. Second, government must build up a solid infrastructure of production factors including capital, technology, manpower, and information. Structural adjustment often entails bankruptcies and partial waste of resources. However, it is desirable for the government not to try to sustain marginal businesses, but to support the diversification or restructuring of businesses by assisting in factor creation. Institutional support for venture businesses needs to be improved, especially in the financing system since many investment projects in venture businesses are highly risky, even though they are very promising. The proportion of low-value added production processes and declining industries should be reduced by promoting foreign direct investment and factory automation. Moreover, one cannot over-emphasize the importance of future-oriented labor policies to be based on the new paradigm of understanding firm activities. The old laws and instititutions related to labor unions need to be reformed. Third, government must improve the regimes related to money, banking, and the tax system to change business practices dependent on government protection or undesirable in view of the evolution of the Korean economy as a whole. To prevent rational business decisions from contradicting to the interest of the economy as a whole, government should influence the business environment, not the business itself.

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