Earticle

This report investigates the current status of entrepreneurship in Korea. It compares the frequency and nature of entrepreneurial activity in Korea with other countries around the world who have participated in the 2008 Global Entrepreneurship Monitor (GEM)Adult Population Survey. The purpose of the Global Entrepreneurship Monitor (GEM) is to build and enhance global understanding about the attitudes, activity, and aspiration of entrepreneurs. By providing greater knowledge about entrepreneurship, GEM can help governments, businesses, and educators around the world design policies, develop programs, and provide assistance to help these enterprising individuals thrthrtin an increasing global business environment. GEM is a consortium of national academic teams and a central coordination team. Working together, this consortium administers an adult population survey (APS) of at least 2,000 individuals from 18-64 years old in each participating country. In addition, GEM conducts National Expert Surveys(NES), to provide information about particular factors impacting entrepreneurship in each country. Starting with 10 relatively wealthy countries in its first survey in 1999, GEM has brought together 64 countries over a ten-year period, representing an increasingly diverse set of economies from a spectrum of income levels. The 2008 GEM Adult Population Survey (APS) was conducted in 43 countries, which included the re-entry of Korea after a five-year hiatus. This report organizes the 43 countries into three groupings based on different economic development levels: factor-driven, efficiency-driven, and innovation-driven. Korea is among the 18 higher-income innovation-driven economies. Many of the comparisons made in this report with respect to Korea are within this group of countries. The GEM Model shows three groupings of framework conditions that influence entrepreneurship, which in turn impacts national economic growth. In measuring entrepreneurial activity, GEM includes four phases: potential, nascent, new, and established entrepreneurs. This report focuses primarily on nascent and new entrepreneurs, which make up the Total Entrepreneurial Activity(TEA) rate. This rate was 10% of the adult population in Korea, one of the highest TEA rates exhibited among the innovation-driven countries. While many of these entrepreneurs were motivated by improvement-driven opportunity (the prospects for higher income or independence) there was also a high proportion of need or necessity-based entrepreneurship. The rate of business discontinuation is the highest in Korea, relative to the other innovation-driven countries. The frequency through which entrepreneurs both start and discontinue businesses indicates a high level of entrepreneurial dynamism in this country. One distinct quality of entrepreneurship in Korea is the ratio of male to female participation in entrepreneurship. While this varies among countries across the entire sample, the innovation-driven countries generally have a male-to-female entrepreneurship ratio of two to one, with some (U.S., Germany) having a much lower ratio. Korea, however, has about a three-to-one ratio. Another prominent characteristic describing Korean entrepreneurs is the comparatively high level of education they have achieved, particularly graduate experience. Reports from the National Expert Survey reveal that availability of funding is a challenge for entrepreneurs, which is generally a concern for all the innovation-driven economies. Experts in Korea agree that entrepreneurship is a priority for government, and this can be reflected in the variety of government programs initiated to promote entrepreneurship, including the establishment of technology incubators. In 2008, GEM recognized the importance of entrepreneurship-specific education and training by including questions relating to this special topic in the survey. While general education levels are high among Korean entrepreneurs, entrepreneurship-specific education and training, both in school and outside of school, were the lowest among the innovation-driven economies. While there is agreement among the national experts that entrepreneurs need help planning their startups, there is also a perception that current education and training is inadequate, particularly in school and universities.

The satisfaction of performance result on the management consulting satisfaction turned out to be a positive effects to the improvement of both material resources capacity and human resources capacity of company and a performance process satisfaction was analyzed a negative effect to human resources capacity, not material resources capacity. The reason of negative effect on human ability is man power is not continuously available as a resource of enterprise and leave from the position by improving their ability. To increase the satisfaction of business performance based on this research would suggest as follows; First, it is necessary to find out the specific measures actively to improve the material resources capacity of the company during the process of management consulting. Second, the improvement of human resources capacity shall perform the direction to make a positive effect to the financial, customer's, learning and growth, and internal business process' viewpoint by the management consulting.

Many of Korean youngsters find to get the good job opportunity is very hard. Almost half of the graduates can not find the jobs they want. This is huge social loss. But the situation will not change in the near future. So give the youngsters with economic activity experience is very important issue for sustainable society. I insist to change the youngsters career path to do own business through social entrepreneurship is realistic and meaningful solution to youngsters unemployment dilemma. If proper education and support is given systematically, to do own business through social entrepreneurship is not hard to achieve. This kind of approach will meaningfully reduce the number of NEET and give jobs to many motivated youngsters.

The purpose of this study was to test cooperative work activation for exchange different business of the small & medium venture enterprises. To measure activation methods, most studies exchange different business activation, but it was not very understood these an empirical analysis through cooperative work theories literature study. This study have t-test, oneway variable analysis and MAOVA. Independent variable was exchange different business action, it contains information joint, technique joint, human-resource joint, market joint, friendship. Dependent variable was management performance, it contains sale performance, research performance, expense reduction performance. As a result, exchange different business action was influence on management performance. Exchange different business action was influence on sale performance, expense reduction performance in detail. Additionally, technique joint, friendship correlate management outcome. And technique joint correlate research performance, expense reduction performance. Human-resource joint correlate expense reduction performance. At last, friendship correlate sale management. This thesis suggest that developing learning organization activation, educating advisor within exchange different business action group, constructing information technical networks.

The CEO manages the firm, glorying in its successes and taking the blame for its failures. The centrality of the CEO is reflected in the empirical literature on CEO turnover, which contributes the CEO turnover to poor firm performance. Less is known, however, about the sensitivity of CEO turnover between the owner-CEO and manager-CEO. In particular, this study investigates what financial factors, including performance, free cash flows, the efficiency of investing asset management, growth potential measured by R&D, and the monitoring variable proxied by the debt-equity ratio, influence the CEO turnovers and how the turnover sensitivity differs between manager-CEO and owner-CEOs. This research examined the relationship between the firm performance and the CEO turnover with total 736 sample observation about 151 venture firms, using the sample of KOSDAQ firms between 2000 and 2005. Results of the research show that 50 firms changed their CEOs during the sample period and there were 89 CEO turnovers. The tenure of the CEO turnover is average 2.94 years after the initial public offering. The performance, measured by EBITDA and net income, of firms with CEO turnover became worse prior to the CEO change than that of firms without CEO turnover and their difference is significant at conventional significance levels. The phenomenon is more evident for manager-CEO as opposed to owner-CEO. The research also finds that the probability of CEO turnover is lower for firms with owner-CEO than firms with manager-CEO, but firms with foreign investors' ownership show high CEO turnover possibility. The study finds that the deterioration of the free cash flow also increase CEO turnover possibility, but such possibility is not evident between firms with owner-CEO and firms with manager-CEO. The results show that there was a significant increase in CEO turnover possibility when the efficiency of investment asset management and growth potential of venture firms deteriorate. The CEO turnover possibility becomes lower for firms with high debt-equity ratio than firms with low debt-equity ratio. This result supports the monitoring hypothesis. This research is noteworthy in investigating factors influencing the CEO turnover and in identifying differences between the owner-CEO turnover and the manager-CEO turnover. Findings of this study suggests that poor performance measured by EBITDA ratio, low free cash flows, low debt-equity ratio, poor efficiency of investing asset management and growth potential measured by R&D increase the possibility of CEO turnover. In particular, their influence on the turnover possibility is more evident to the manager-CEO firms than to the owner-CEO firms.

Unprecedented rapid changes in global business environments have brought tremendous challenges to government officials and corporate executives. They need a new conceptual framework to understand these challenges and set appropriate strategies and policies. Since 1960s, because of low labor costs and technology transfers from developed countries, Korea has experienced extremely high economic growth. However, past success becomes what March call a “success trap” and a veil to cover us from identifying the right way. We have wasted our valuable time without accumulating required knowledge and skill. Thus, during the past 15 years, our economy has fallen into periodic difficulties. Changes in global business environment demand new policies to boost employment and establishment of business. Also, instead of managing for cost control, business managers need to help establish new leadership for creating entrepreneurship and innovation. In this article, we try to interpret the content and the meaning of global business environment changes. Based on the recognition of future trends from a global perspective, we try to suggest entrepreneurial strategies and innovation policies that could be applicable to new economy and society contexts,

Recently, most Korean begin again concern about the traditional Oriental medicine and natural herb. Sanchung is famous for the natural herb from the ancient and is the home of the Dongeuibogam that is a masterpiece of the Oriental medicine in the Chosun dynasty, Korea. Many venture business company that specialized in the natural herb industry were established in the region for a decade. A new firm needs various infrastructures including research laboratory, devices, facilities, and pilot plant etc. To innovate and enhance their technological capabilities, the roles of the regional specialized R&D center are very important. The Sanchung R&D Center for the Oriental Medicine and Natural Herb was founded by the support of the Ministry of Knowledge and Economy and regional government in 2008. To operate the institution more efficiently and to support the company's business more actively in the region, there need many requirements in the many area, such as infrastructure, marketing, research and development, new products tests and design, manpower, legal and management consulting, information management, production support, and networking with others, etc. We, our project team, surveyed what the regional company want to benefited from the institution and how could they cooperate with the institution. Also, we surveyed the same items to the experts in the domain. We could derived the business support requirements of the institution, and could suggest business support framework for the regional R&D center.