• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.5 no.2
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• pp.33-57
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• 2010

This study aims at researching whether business founders' psychological characteristics, behavioral characteristics, and career characteristics have influence upon corporate performance and whether business founders' career characteristics and start-up education experience have influence upon corporate performance targeting business founders of start-up business-incubated companies. As a result of this study, business founders' psychological characteristics(achievement desire, risk-endurance propensity) were indicated to have significant influence upon corporate performance. On the other hand, business founders' behavioral characteristics were indicated to have no influence upon corporate performance. Also, it is seen to have clarified that business founders' career characteristics, past practical-affairs experience during start-up education business, and job-life experience are important factors of having significant influence upon corporate performance. These findings are expected to give many implications even to preliminary business founders as well as establishment in supportive direction and effective development of start-up business-incubated companies. Accordingly, the implication is seen to have been suggested that the services, which the business incubator supports the living-in companies, need to be planned and offered by considering business founders' characteristics of start-up business.

• Journal of the Korean Society of Costume
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• v.67 no.2
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• pp.131-146
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• 2017

The aim of this study is to investigate the operating characteristics of fashion start-up companies and the characteristics of their founders. For this purpose, this study surveyed fashion start-up companies via online survey in May 2015, and analyzed the data from one hundred companies. The results are as follows. First, for the characteristics of the founders, female founders constituted 65.0% and male founders 35.0%. At the time of establishment, founders aged 26-35 constituted 77.0%. Founders with less than five years of work experience made up about 80%. 82.1% of the founders participated in domestic and foreign exhibitions/fairs. 41.0% of the founders were awarded fashion contest and competition awards, and 33.3% of the founders were supported by rising designer support projects. Second, for the operating characteristics of the start-up companies, clothing at 78.0% was the most popular entrepreneurial item, and the majority targeted the age 20-30 group. 78.0% of the companies had less than 40 production styles per season, and all the enterprises had less than 5 employees. 59.0% of the companies had export experience. Exports to China, Hong Kong, and Japan accounted for 67.4% of all exports. Major distribution channels were mainly select shops(offline select shops 79.8%, online select shops 62.8%). The main methods of promotion were fashion media articles/interviews, product sponsorship, and SNS. The most preferred distribution channel was becoming a part of online/offline select shops(92.6%). Viral marketing(84.4%), star marketing and costume sponsorship(66.7%) were the most preferred method of promotion. The most preferred way to enter foreign markets was to participate in domestic and foreign exhibitions/fairs/trade shows. This study provides basic data necessary for future founders preparing to launch fashion start-up companies. It also aids fashion start-up companies in developing more advanced business operation strategies.

• Culinary science and hospitality research
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• v.14 no.1
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• pp.39-55
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• 2008

The characteristics of preliminary founders has taken a part in deciding the structural elements of Franchise headquarters in the food service industry. Thus this study tries to show how preliminary founders have an impact on structural elements in franchise headquarters through demonstrative research on intention of contracting by characteristics of preliminary members. The result shows that the experience factor of a preliminary owner has significant relationships with the structural elements of headquarters. It was analyzed that the structural elements of franchise headquarters such as expert consulting, training support and use of sales guide influence contract intention. The characteristics of the preliminary founders have a major impact on investment, financing, expert consulting, educational support, and untilization of business guideline. The structural elements have a major impact on contract intention.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.14 no.6
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• pp.29-43
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• 2019

This paper empirically analyzed the relationship between the characteristics of venture business founders and management performance, setting the management strategy as a parameter to provide a suggestion for the survival and development of venture companies that play an important role in the national economy and job creation. Previous studies in Korea have analyzed the relationship between the characteristics of business founders, management strategies and management performance in a single dimension. This paper, however, explained the business performance of a company from a multi-dimensional perspective while setting the characteristics of business founders as independent variables and setting the business strategy of the enterprise as a parameter. The first result of the analysis shows that the characteristics of venture business founders have a positive effect on business performance. In particular, among the characteristics of venture business founders, a progressive spirit has had the greatest impact on business performance. On the other hand, the influence of risk sensitivity was very weak. Second, the characteristics of venture business founders were found to have a positive effect on business strategy. In particular, innovation was an important variable that affected the technological innovation differentiation strategy, and a progressive spirit was the most influential factor in the marketing differentiation strategy. Third, management strategies of venture firms were found to have a positive effect on business performance. In particular, the technology innovation differentiation strategy has a greater impact on business performance than the marketing differentiation strategy. Fourth, it was revealed that management strategy partially has a mediated effect on the relationship between the characteristics of venture business founders and management performance. In other words, it was found that the characteristics of the founders have a direct impact on business performance but if it is linked to management strategy it has an indirect effect on business performance. The results of this study show that business performance improves when venture business founders' personal characteristics and the firms' management strategy are combined.

• Journal of the Korean Operations Research and Management Science Society
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• v.30 no.1
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• pp.105-128
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• 2005

The Purpose of the current study is to identify the differences between Samsung and Hyundai Group and the causes why the differences occurred. The study focuses on the founders of the two group as a main source of the differences, especially brain preference of the two founders. Two steps were employed to perform the study. Firstly, the two founders' characteristics were analyzed by using archival research. It was implicitly hypothesized that Group founders' characteristics explained the differences of the two Groups. It was found that the founder of Samsung Group, the late president Lee emphasized rationality, analysis, and cause/effect relationship and low risk taking, suggesting that he had left-brain preference. In contrast. the late president Chung, the founder of Hyundai Group, emphasized intuition, wholeness, contextual meaning, and risk taking, showing that he had right-brain preference. Secondly, a comparison between the two groups was performed in terms of business and financial risk in corporate portfolio, and management system. It was found that Hyundai Group was pursuing higher risk than Samsung Group. And it was observed that Samsung Group put more emphasis on formality in decision making and systematic control, and less emphasis on risk taking than Hyundai Group. From the two step research relationship between brian preference and management was reasoned. Research implications and limitations were discussed at the end of the study.

• The Journal of Economics, Marketing and Management
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• v.7 no.4
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• pp.20-32
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• 2019

Purpose - There have been many studies regarding the preceding factors required for success of start-up. The purpose of this study is to verify one of the paths by which the individual characteristics of founders and governmental support lead to enhanced start-up performance, via entrepreneurship and network building. Research design, data, methodology - Data for this study was collected from surveys of 332 founders throughout South Korea, and statistical analyses of this data were performed using SPSS 22.0 and Smart PLS 2.0. To verify our hypothesis, path analysis was performed using a structural equation model. Results -The variables, entrepreneurial self-esteem and experience were found to have positive effects on the entrepreneurship and networks. Secondly, governmental support did not have significant positive effect on entrepreneurship, but it did have positive effect on networking. Thirdly, entrepreneurship and networking were confirmed to have positive effects on both the utilization of opportunities and financial performance, which are variables indicating start-up performance. Conclusion - Although founder's characteristics are important for success of start-up, it is also critically important to actively utilize governmental support. Notably, many founders suffer from inadequate networks. They would be able to enhance their start-up performance by utilizing various governmental support programs to reinforce their network capabilities.

• Management & Information Systems Review
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• v.35 no.4
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• pp.251-268
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• 2016

The present study has the purpose of analyzing the relationship between entrepreneurial characteristics and success factors of small-scale start-up founders as well as the relationship between success factors and performances of start-up businesses. It is also aimed in this study to determine the structural effects of start-up founders' characteristic upon their performances and by thus, to provide those who prepare for and/or have been operating start-up business with suggestions for stable and successful start-up as well operation. The study resulted in the following outcomes: First, the analysis of the relationship between characteristics and success factors of start-up business found that the empirical characteristics of small-scale start-up business founders might influence every factor for their success including the financial conditions as well as management of shops, products and service. Their psychological characteristics, however, turned out to have influence upon the management of products and service only, but not upon the financial conditions and management of shops, a result implying that the higher desire and creativity small-scale start-up business founders have, the more probable the start-up businesses become successful. Second it was learned from the analysis of the relationship between success factors and performances of start-up businesses that such success factors of start-ups as financial conditions as well as management of shops, products and service could exercise impact upon their performances, signifying that the exact decision making of small-scale start-up founders might affect the performances of small-scale start-up businesses. Third, the analysis of the relationship between entrepreneurial characteristics and performances of start-up founders revealed that both empirical and psychological characteristics of start-up founders might have influence upon the performances of start-up businesses, leading to the conclusion that small-scale start-up founders could achieve higher performances in their start-up when they are highly aware of empirical and psychological characteristics for start-up as part of entrepreneurial characteristics.

• Culinary science and hospitality research
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• v.14 no.4
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• pp.119-133
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• 2008

This study researched the effect of initial expenses for food service business and shop characteristics on the motive of starting business through questionnaires(from April to May, 2008). The results are as follows. First, for the hypothesis, 'the motive of starting business depends on its initial expenses', the significance probability of good commercial area was .015 and that of retirement was .020, showing statistically significant difference. F values were 2,889 and 2.734 each, which showed significant difference by 0.001. Second, for the hypothesis, 'the motive of starting business depends on shop characteristics', the significance probability of the accomplishment desire, the future stability and the retirement were .011, .009, and .025 each, showing statistically significant difference. F values were 2,616, 3.034 and 3.177 each, showing significant difference by .001. Lastly, initial expenses for business and shop characteristics showed significant difference according to the demographical variables on the motive of starting business. This study shows the problem of starting business with no extra funds. It is important to reflect the opinions of founders about the commercial building lease protection law for them to concentrate on business. The founders should research for menu and systems and be aware of the tendency of the industry for sure.

• Asian Journal of Innovation and Policy
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• v.7 no.1
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• pp.79-102
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• 2018

In an entrepreneurial ecosystem, the failure rate of startups is extremely high at 90%, and every startup that fails becomes an orphan. This phenomenon leads to higher costs of failure for the entrepreneurs in the ecosystem. Failed startups have many lessons to offer to the ecosystem and offer guidance to the potential entrepreneur, and this area is not fully explored compared to the literature on successful startups. We use a case based method distinguishing a failed startup and a successful startup, studying the entrepreneurial characteristics and firm level factors which cause the failures, in the technology startup ecosystem of Bangalore. We study one of the modes of exit adopted by failed startup entrepreneurs and draw key lessons on causes that culminate in failures. We have identified that factors such as the time to minimum viable product cycle, time for revenue realization, founders' complementary skillsets, age of founders with their domain expertise, personality type of founders, attitude towards financial independence and willingness to avail mentorship at critical stages, will decisively differentiate failed startups from the successful ones. Accordingly, implications have been derived for potential entrepreneurs for reducing the cost of failures in the entrepreneurial ecosystem.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.12 no.4
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• pp.85-96
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• 2017

There are many people who start business because of unstable employment due to income polarization. There are many people who start business because of unstable this study is to present the necessary situation and direction for the prospective founders who are hesitant to start their own business by lacking self - confidence and information about Preparing for start-up the purpose of this study is to investigate the effect of pre - founder's psychological characteristics and start - up preparation characteristics on entrepreneurship intention. In order to conduct this study, 144 male and 114 female who were temporary workers and about to retire were analyzed for validity and reliability using 258 questionnaires. As a result of analyzing the adjustment effect of entrepreneurship education as an interaction term in the psychological characteristics and the preparation characteristics of the entrepreneurship, the risk taking tendency and the preparation period for entrepreneurship were significant for entrepreneurship education. In addition, the greater the necessity and importance of entrepreneurship education, the greater the effect on entrepreneurship education. It is a meaningful study that can give confidence to the subjects who want to start a business but are afraid of failure. This study is expected to contribute to the government's start - up policy by analyzing the influence of pre - founders on the intention of start - up.