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Case Studies for the Success Factors of School-Based Enterprises
  • - Se-Ryong Shin (Hansei University)
  • - Jin-Hwan Hong (The University of Suwon)
[Abstract]
The school-based enterprise (SBE) is a business model to commercialize the professors¡¯ research or technology developments. Many universities run SBEs to enhance the company adaptability for students and the profitability structure of universities. However, most SBEs still do not perform very well.
This paper examines the features and current situations of SBEs, and derives the implications through the review of cases focusing on the SBE¡¯s efficient management and performance improvement. High performing domestic SBEs are being ed for the analysis where case studies are being conducted through secondary data and interviews and ERIS model is being used to analyse the success factors.
Topline analysis showed that successful SBEs have common features-such as entrepreneurship or professionalism of the key management team (university president or chief operating officer), ability to leverage on in-house human resources as well as capability to commercialize the key items of the universities. In addition, the successful SBEs also develope the university brand and implement product differentiation strategy rather than low cost strategy.
Although this paper has limitations as an exploratory study, it is expected to contribute to the future improvement of SBE¡¯s performances and university¡¯s competitiveness.
A Case Study on the Collapse of Moneual using CRIME Framework and Fraud Triangle Theory
  • - Hyoung-Joo Lim (Far East University)
[Abstract]
This study investigates the case of the most recent accounting scandal (or loan fraud), ¡°2014 Moneual crisis.¡± Moneual was known as one of the most innovative venture firms, famous for HTPC and robot vacuum cleaners with bright prospects. The firm had been seeing super-rapid growth over the past 7 years until Moneual d itself incapable of paying the matured export bonds and the firm subsequently became widely known to engage in illegal lobbying, misstatement of accounting numbers, and loan fraud, leading to the collapse in 2014. Unlike other accounting frauds, the major victims of the scandal are gigantic institutional investors including the state-run export-import bank of Korea and banks in the 1st financial sectors, therefore this study has a very significant implication.
This case study has a number of distinctive features since the study is the very first to analyze ¡°2014 Moneual crisis¡± and uses the CRIME framework and the Fraud triangle theory to thoroughly explain the causes and the end results of the crisis. This study also adopts the organizational cycle model to explain the abnormal phases of Moneual¡¯s business life and provides sufficient financial statements analysis to ascertain whether the banks could have detected symptom of a fraud. This study also discusses several ways of preventing latent similar incidents like Moneual therefore expects to provide valuable insights into accounting fraud in medium-sized businesses for regulators and potential investors.
The Effects of Internal Capabilities on Export Performance for SMEs that Export their Own Brand: Focused on Moderating Effect of Government Support System
  • - Heesoon Yang (Sungkyunkwan University)
  • - Byoungho Jin (The University of North Carolina at Greensboro)
  • - So Won Jeong (College of Natural Sciences)
[Abstract]
This empirical study investigates the effects of the marketing, technological and product differentiation capabilities of SMEs exporting their own brands on their export performance using the government support system as the moderate variable. First, the marketing and technological capabilities of SMEs had significant effects on their financial performance, and the government support system had a moderating effect on the relationship between their technological capability and financial performance. Second, the marketing, technological and product differentiation capabilities had influences on their strategic performance, and the government support system had a moderating influence on the relationship between their marketing capability and strategic performance. Therefore, the government support system is needed to increase the export performance of SMEs.
The Effects of CEO¡¯s Career Orientation on the Firm Performance: Mediation Effect of Entrepreneurship
  • - Jae-Whan Park (Chung-Ang University)
  • - Woo-Jong Kim (Chung-Ang University)
[Abstract]
This study¡¡is an empirical research on the effects of CEO's career orientation on the firm performance and mediation effect of entrepreneurship between CEO's career orientation and the firm performance.
The results from this study are as follows: First of all, the hypothesis regarding the positive(+) influence of entrepreneur's managerial competence, and entrepreneurial creativity on entrepreneurship has turned out to be adopted. Secondly, the hypothesis regarding the negative(-) influence of entrepreneur's technical competence and security on entrepreneurship has turned out to be rejected. Thirdly, the hypothesis regarding the influence of entrepreneurship on the firm performance turned out to be adopted. Finally, the mediation effect of entrepreneurship between CEO's general managerial competence, entrepreneurial creativity and the firm performance has turned out to be adopted.
The Effect of Self-efficacy and Autonomy on the Possibility of Start-up Success: Focus on Mediation Role of Intrinsic Motivation and Risk Taking
  • - Bong-Ho Yoo (Dankook University)
[Abstract]
This research recognized the importance thereof and considered causal relationship among psychological characteristic factors including founders' self-efficacy, autonomy, intrinsic motivation, and risk taking for the possibility of start-up success, focusing on its mediation role.
As the result of the analysis, first, self-efficacy and autonomy appeared to be leading variables of intrinsic motivation. Second, intrinsic motivation appeared to positively influence risk taking. Third, risk taking appeared to be an important factor which raised the possibility of start-up success. Fourth, mediating effect of intrinsic motivation appeared between self-efficacy, autonomy and risk taking, which are the core of the research. Also, mediating effect of risk taking appeared between intrinsic motivation and the possibility of start-up success. In other words, risk taking could be said to be the influence factor which itself could raise the possibility of start-up success, furthermore, the research derived the result that intrinsic motivation with the leading variables of self-efficacy and autonomy played a mediating role to raise the possibility of start-up success more.
To conclude, in order to raise the possibility of start-up success, the importance of the above founders' psychological characteristic this way should be deeply recognized and earnestly considered. Accordingly, based on the result of this research, the researcher intended to provide theoretical and operational implication on founders' psychological characteristic from the viewpoint of start-up success factor.
Exploratory Research on the Entrepreneurship and Work Experience: A Comparative Case Study on the Opportunity Exploration, Opportunity Realization, Risk Management Strategy
  • - Seoin Baek (Korea Advanced Institute of Science and Technology)
  • - Seongmin Lee (Korea Advanced Institute of Science and Technology)
  • - Hyunjoon Chang (Korea Advanced Institute of Science and Technology)
[Abstract]
Recent entrepreneurship research has focused on success strategy and risk management of venture firms due to the outstanding performance of hidden champions. In this research, we aimed to investigate the relationship between work experience and entrepreneurship in two different types of firms (technology-intensive firms and marketing-intensive firms), and propose the relative strategies at three stages; opportunity exploration, opportunity realization and risk management. According to this study, at opportunity exploration stage, entrepreneurs with work experience tended to explore the business opportunity from the problem of previous organization, while entrepreneurs with no work experience captured the opportunity from their normal life. At opportunity realization stage, technology-intensive firm with work experience-based entrepreneur, realized opportunity by inventing technology for specific segment, while technology-intensive firm with no work experience-based entrepreneur focused on technology, which is easy to be compatible with other services. In other hands, marketing-intensive firm with work experience-based entrepreneur, tried to solve the structural problem of existing ecosystem while marketing-intensive firm with no experience-based entrepreneur focused on SNS channels and cloud funding. At risk management stage, technology-intensive firms with both work experience-based and no experience-based entrepreneurs are concentrated on developing marketing channels by cooperating with major distribution firms, while marketing intensive firms with both work experience based, and no experience-based entrepreneurs are relying on diversification of service and product.