• The Transactions of the Korean Institute of Electrical Engineers A
• /
• v.54 no.2
• /
• pp.79-87
• /
• 2005

At present Cournot model is one of the most commonly used theories to analyze the gaming situation in oligopoly market. But there exist several problems to apply this model to electricity market. The representative one is to obtain the inverse demand curve able to be induced from the relationship between market price and demand response. In Cournot model, each player offers their generation quantity to accomplish maximum profit, which is accomplished by reducing their quantity compared with available total capacity. As stated above, to obtain the probable Cournot equilibrium to reflect real market situation, we have to induce the correct demand function first of all. Usually the correlation between price and demand appears on the long-term basis through the statistical data analysis (for example, regression analysis) or by investigating consumer utility functions of several consumer groups classified as residential, industrial, and commercial. However, the elasticity has a tendency to change continuously according to the total market demand size or the level of market price. Therefore it should be updated as trading period passes by. In this paper we propose a method for inducing and updating this price elasticity of demand function for more realistic market equilibrium.

• KIEE International Transactions on Power Engineering
• /
• v.5A no.4
• /
• pp.403-411
• /
• 2005

At present, the Cournot model is one of the most commonly used theories to analyze the gaming situation in an oligopoly type market. However, several problems exist in the successful application of this model to the electricity market. The representative one is obtaining the inverse demand curve able to be induced from the relationship between market price and demand response. In the Cournot model, each player offers their generation quantity to obtain maximum profit, which is accomplished by reducing their quantity compared with available total capacity. As stated above, to obtain the probable Cournot equilibrium to reflect the real market situation, we have to induce the correct demand function first of all. Usually the correlation between price and demand appears over the long-term through statistical data analysis (for example, regression analysis) or by investigating consumer utility functions of several consumer groups classified as residential, industrial, and commercial. However, the elasticity has a tendency to change continuously according to the total market demand size or the level of market price. Therefore it should be updated as the trading period passes by. In this paper we propose a method for inducing and updating this price elasticity of demand function for more realistic market equilibrium.

• Proceedings of the KIEE Conference
• /
• 2005.11b
• /
• pp.168-170
• /
• 2005

At present Cournot model is one of the most commonly used theories to analyze the gaming situation in oligopoly market. But there exist several problems to apply this model to electricity market. The representative one is to obtain the inverse demand curve able to be induced from the relationship between market price and demand response. In Cournot model, each player offers their generation quantity to accomplish maximum profit, which is accomplished by reducing their quantity compared with available total capacity. As stated above, to obtain the probable Cournot equilibrium to reflect real market situation, we have to induce the correct demand function first of all. Usually the correlation between price and demand appears on the long-term basis through the statistical data analysis (for example, regression analysis) or by investigating consumer utility functions of several consumer groups classified as residential, industrial, and commercial. However, the elasticity has a tendency to change continuously according to the total market demand size or the level of market price. Therefore it should be updated as trading period passes by. In this paper we propose a method for inducing and updating this price elasticity of demand function for more realistic market equilibrium

• Korean Business Review
• /
• v.4
• /
• pp.25-50
• /
• 1991

A management planning is an index to accomplish the goal of business enterprise and a managing guide of the top manager. It is a top manager's authority with he gives directions at the beginning of the budget year and has something to do with a responsible accounting. If we correlate this management planning with an area of accounting, we can subdivide it into followings; production and marketing schedule, demand-supply program of raw material, demand-supply program of the personnel and lobor cost program, facility investment program, balance fund program, profit and loss, and financial position program. I think, in the field of accounting for the sake of the management planning, there are motivation accounting, responsible accounting, divisional system accounting, evaluating accounting and so on. A management planning should be accomplishe and as it is accomplished, a business is going to be grown up and developed. Especially, it must be set up on the ground of the long-term strategies. When the accomplishment through the management planning, which is a social responibility that all the business enterprise are seeking after, is attained, it makes the development of business possible and we cannot dent that it is closely connected with the national economic development.

• International Commerce and Information Review
• /
• v.7 no.2
• /
• pp.75-94
• /
• 2005

This study is focused on evaluating the computer-integrated just-in-time (CI-JIT) production system of a semi-conductor manufacturing firm in Korea. Approaching the mid-1980s, the emphasis was on low price, low-cost operations, and quality, especially in USA. American companies have shifted output to low-wage countries like the Philippines, Korea, Japan, Malaysia and allied countries that can make quality products at low prices. Korea and other Asian countries forego short-term profits to gain a solid foothold in a product market, recognizing that larger market share leads to lower cost and higher profit in the long run. They bring manufacturers and suppliers together to improve material management and operation management, using project teams that investigate topics, such as Just-In-Time(JIT)manufacturing, among others. The "Kanban" word means "card" in Japanese, and is used to indicate the desired final delivery schedule. The operation for a particular item produced is scheduled for a specific time. The same process is extended to the external suppliers. More recently, the cards are gradually being replaced by electronic procedures that follow the same concept. Its capacity must be capable of handling the various transactions required by the JIT coverage as well as some allowances for expanded applications.

• International Commerce and Information Review
• /
• v.3 no.2
• /
• pp.261-280
• /
• 2001

From the IMF(International Monetary fund) crisis, the management conditions of the trading company which run business in world market, has rapidly changed. In particular, the trading conglomerate's competitive power have declined. This study, addressing such changes, intend to analyze what factors are that have generated this changes in trading conglomerate's environment. The study specifically takes it into account that the differences between Korea trading company and Japan's. This research was confirmed by data and field survey in two country. The results of research are summarized as follow. The Korean trading company are inferior to the Japanese trading company in total volume(Korea: 24.1, Japan 100), the benefit volume(Korea: 8.7, Japan 100), the stability of turnover(Korea: 36.6, Japan 100), the network power in foreign country(Korea: 19.2, Japan 100), the power of e-business(Korea: 17.0, Japan 100). But the debt ratio of Korea company is significantly lower than that of Japan's(Korea: 160.4%, Japan 940.5%). In conclusion, providing that the Korean trading company want to be a world-class champion in trading field, they have to introduce the new management strategies which means the high-profit base trading, the long term investment and the internet business.

• Asian Journal of Business Environment
• /
• v.6 no.4
• /
• pp.13-17
• /
• 2016

Purpose - The purpose of this paper is to evaluate two multinational companies that seem to have reconciled the two mandates of CSR and profit maximization while becoming multibillion dollar companies and examine their organizational culture and practices and their management and leadership in order to determine the controlling factors, if any, that have elicited their success while renowned for their CSR policies. Research design, data, and methodology - This is a case study, an analytical approach, which focuses on exploring and analyzing the CSR policies of Starbucks and IKEA. Results - IKEA and Starbucks considered their position in the global business environment and their social responsibilities as crucial and did more than a cursory lip service to the issues. In fact, they both took the more difficult long-term approach and tried to resolve the root causes for the environmental and social issues in their supply chain. Ultimately though, it is the ethical leadership of the top management that sets the tone for the organizational culture and its CSR. Conclusion - IKEA and Starbucks are "living proof" that a company can be successful while treating its employees and the community of suppliers and associates with respect and dignity and while making this world a better place.

• Journal of Fisheries and Marine Sciences Education
• /
• v.21 no.4
• /
• pp.568-575
• /
• 2009

On the conflict factors in using community fishing ground and their solutions, some conclusions are derived with the survey for fishing villages, residents, tourists as follows: Jeju Island has beautiful sceneries with seas in all the directions and so remarkable potential as personal experience fishing village. For sustainable development of ecological tourism in each fishing village, systematic, long-term development plans and management systems through decision making with residents in fishing and non-fishing villages are demanded. For tourist development of fishing village, protection management systems for marine and swampy land are needed first of all. Next, economical profit and the participation of resident have first priority, and also individual standards for each village are urgently prepared based on the results of basic research on each village. Finally, educations on environment and fishing village with professional tourist guide are needed. Ecological protection, environmental education, resident participation, local government's concern, and financial support could solve residential conflicts and make Jeju Island a Mecca of local fishing village tourism.

• Journal of the Korea Safety Management & Science
• /
• v.12 no.4
• /
• pp.145-151
• /
• 2010

It seems that a primary concern of the project-based company, which provides a large scale product or service over long term period, is to run a successful project through systematic project process control and control costs. One of the typical project control methods is Earned Value Management System(EVMS) which analyses the precess through performance measurement. Even though the EVMS is a highly efficient tool in the managerial aspect, it cannot easily determine the Planned Value(PV), Actual Cost(AC), or Earned Value(EV) due to the indistinct criteria and extensive data. The accurate calculation of AC in particular, is the basic of project management, but most companies record direct personnel expenses or direct expenses only. Since they calculate indirect expenses based on the estimated ratio, it limits the systematic project management that reflects changes in profit and loss of a company. This study introduces a EVMS for project management and its actual case based on EVMS and ERP system which some additional modules are installed for performance measurement. It is expected that this new method enables a company to save time and effort, and also to improve transparency by specifying expense items in detail and to switch quarterly settlement to monthly by reducing the time of calculation.

• The Journal of Asian Finance, Economics and Business
• /
• v.8 no.1
• /
• pp.257-269
• /
• 2021

Intellectual capital is becoming a crucial factor for a firm's long-term profit and performance in the knowledge-based economy as more firms identify their core competence as invisible assets rather than visible assets (Itami, 1987). The company was encouraged to measure financial and non-financial factors, including the customer perspective groups, the internal business process, learning and growth perspective, then to link all these measurements in a coherent system. This paper seeks to investigate the influence of intellectual capital elements on company performance, as well as the relationship among intellectual capital elements from a cause-effect perspective. Resource-Based View (RBV) considers intellectual capital as resource and capability to sustain competitive advantage on company performance. The partial least squares approach is used to examine listed banks in Indonesia Stock Exchange for year 2017-2019. Results show that human capital directly has positive influences on innovation capital, customer capital, and process capital. Innovation capital has positive, but less significant influence on process capital, which in turn influences customer capital. Human capital and process capital also influence customer capital. Finally, customer capital contributes to performance. This study helps management to identify relevant intellectual capital elements as competitive advantage and their indicators to enhance business performance.