Business Sustainability of Start-Ups Based on Government Support: An Empirical Study of Korean Start-Ups

Lee, Wooseung; Kim, Boyoung

doi:10.3390/su11184851

Cited by 27 publications

(21 citation statements)

References 74 publications

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“…Two methods were used to analyze the success factors of fast-growing Korean start-ups, namely the ABCD model (agility, benchmarking, convergence, dedication) and the global value chains (GVC) strategy. Previous studies of Korean start-ups have focused on the role and effectiveness of government in strengthening start-ups (Lee and Kim 2019). The ABCD model explains how a company can be more competitive than its competitors, even if it does not have top resources or is situated in similar or inferior resource conditions.…”

Section: Start-up Strategizingmentioning

confidence: 99%

Strategic Background of the Start-Up—Qualitative Analysis

Slávik

Hudakova

Procházková

et al. 2022

Administrative Sciences

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A start-up is a relatively new and attractive entrepreneurial form that is being explored in a broader national economy and industry context. However, there is little knowledge about its strategy, which is mainly represented by the business development strategy. The main goal of the research is to deepen and expand knowledge about the strategic background of start-ups, which is preparation and condition for a development strategy and later a business strategy, too. The partial goals of the research are in-depth and detailed knowledge of the content and novelty of the business idea, the quality of the internal environment of the start-up, the nature of the external environment of the start-up, and the content of the goals. The research sample contains 147 start-ups operating in Slovakia. Each start-up was researched by a member of the research team, who personally recorded the statements of the founder. The research results are based on qualitative analysis and synthesis of statements of the founders of start-ups. The main result of the research is a summary view of the strategic background of the examined start-ups, which expresses the peculiarities of the start-up business making and documents the possibilities and motives of the start-up’s strategizing. The summary of knowledge about the strategic background of the start-up is synthesized into a strategic balance sheet, which expresses the strategic perspective of the start-up, the possibilities of survival, explains the potential failure, and provides a solution to the identified imbalance. The practical use of the results consists of providing a model of the strategic balance, which is the result of field research of real and functioning start-ups. The originality and value of the research lie in the direct collection of qualitative data, immediate knowledge of business reality, and the synthesis of results into a comprehensive and at the same time detailed picture of the strategic background of the start-up.

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Section: Start-up Strategizingmentioning

confidence: 99%

Strategic Background of the Start-Up—Qualitative Analysis

Slávik

Hudakova

Procházková

et al. 2022

Administrative Sciences

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“…At this stage, the businesses start expanding and most of the previous management practices and strategies become unfit to operate in the new operational context and under demands. This is the point at which entrepreneurs need professional guidance and support to ensure their ability to succeed in the growth process (Lee & Kim, 2019). The growth challenges arise due to the disadvantages inherited by micro and small businesses (Abduh et al, 2007;Akçomak, 2009;Dhochak, Acharya, & Sareen, 2019;Hewitt & van Rensburg, 2020;Jacobs et al, 2017;Mazzarol, Reboud, & Tye, 2006;Yap et al, 2019).…”

Section: Growth Of Mses Based On Life Cycle Modelsmentioning

confidence: 99%

“…Most of the programs involve the role of external support. External support refers to the assistance provided to the enterprise by external parties, including the government (Adam & Alarifi, 2021;Jacobs et al, 2017;Lee & Kim, 2019;Mazzarol et al, 2006;Yap et al, 2019).…”

Section: Does External Support Matter?mentioning

confidence: 99%

Incubators and Micro and Small Enterprise Growth: A Narrative Literature Review

Omar

Ishak

Manaf

et al. 2022

5007

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This article presents a narrative literature review that aims to accomplish three objectives: (1) to describe the role of external support—namely, the incubator program—in encouraging micro and small business growth; (2) to explain the concept of the incubator program; and (3) to identify the typologies in the execution of entrepreneurial incubator programs. Findings from the review show that external support is required in the early growth of the life cycle indicated by the “growth through creativity” and “growth through direction” phases in the Greiner Growth Model and the “existence” and “survival” stages in the Churchill and Lewis Growth Model. The incubator concept is centered around providing basic, specific amenities and services to support the selected MSEs growth. Incubators are a form of external support that aim to assist the growth of start-up MSEs. Finally, four typologies are identified based on the degree of supervision and range of services offered.

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“…MSMEs represent almost the entire business population, whose distribution equates to approximately 70% of those in employment, and they produce an economic contribution of 50% to 60% of income [6]. Even during the economic recession in 2009, MSMEs still comprised up to 95% of all companies in OECD countries [7]. The number of MSMEs in the world, which accounts for 70% of all businesses globally, makes MSMEs a research subject that deserves attention.…”

Section: Introductionmentioning

confidence: 99%

Innovativeness as the Key to MSMEs’ Performances

et al. 2022

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Research on Micro Small Medium Enterprises (MSME) has always been an exciting area of study because of its crucial role; however, it turns out that MSMEs have many problems. The problems, such as human resources and their abilities, are rarely discussed. MSMEs tend to be formed because of a compulsion to do so, whereas companies are created by opportunities; therefore, it is essential to include entrepreneur orientation and dynamic capability elements in making MSME performance models. This study used SEM analysis with 333 respondents spread across six provinces in Indonesia. The results showed that innovativeness, which is part of entrepreneur orientation, is critical in the formation of MSMEs’ performances. Moreover, based on the calculation of indirect effects, it revealed that innovativeness through marketing capabilities has a significant influence on the performance of MSMEs.

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Business Sustainability of Start-Ups Based on Government Support: An Empirical Study of Korean Start-Ups

Cited by 27 publications

References 74 publications

Strategic Background of the Start-Up—Qualitative Analysis

Strategic Background of the Start-Up—Qualitative Analysis

Incubators and Micro and Small Enterprise Growth: A Narrative Literature Review

Innovativeness as the Key to MSMEs’ Performances

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