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Article
Publication date: 26 November 2010

Hyeon‐Lo Lee, Jong Beom Moon, Wang Jin Yoo and Dong Myung Lee

The purpose of this paper is to apply the real option method with fuzzy logic to value the government‐sponsored projects of advanced technology development for strategic selection…

Abstract

Purpose

The purpose of this paper is to apply the real option method with fuzzy logic to value the government‐sponsored projects of advanced technology development for strategic selection in an uncertain competitive environment.

Design/methodology/approach

For strategic selection of government‐sponsored industrial R&D projects, in this paper, Carlsson and Fúller's model was adopted which employs fuzzy logic to estimate the benefits and costs calculated from various scenarios and utilizes Black‐Scholes‐Merton model. The model of strategic selection is suggested for government R&D with fuzzy real option valuation (FROV) and the portfolio planning model from GE‐Mckinsey matrix as well.

Findings

FROV was found to be more appropriate to measure the strategic value than the traditional financial method (net present value, NPV, etc.). When the NPV is ambiguous in deciding whether to go or not to go, for instance, just below zero NPV and high volatility of expected benefit, FROV can offer the additive value of the project reflecting volatility of benefit due to the volatility.

Research limitations/implications

Based on insufficient practical data, this methodology should be verified with various projects and measuring volatility of pay‐off requires precise analysis. In addition, research opportunities are in the stepwise R&D project with fuzzy compound real option.

Originality/value

Many papers on economic analysis of R&D project are focused on NPV or cost‐benefit analysis in the public sector. Several attempts with real option have been conducted in the pharmaceutical field or the aerospace (NASA) industry but are not concerned with the fuzziness of expected benefit. Hence, in this paper, fuzzy logic is added to handle imprecise information on the Black‐Scholes‐Merton model with dividend paying.

Details

Asian Journal on Quality, vol. 11 no. 3
Type: Research Article
ISSN: 1598-2688

Keywords

Article
Publication date: 18 January 2013

Paul R. Drake, Dong Myung Lee and Matloub Hussain

The aim of this paper is to present a purchasing portfolio model for determining purchasing strategy at the component level of a product to support business strategy, addressing…

6961

Abstract

Purpose

The aim of this paper is to present a purchasing portfolio model for determining purchasing strategy at the component level of a product to support business strategy, addressing weaknesses in the often cited Kraljic‐type models. The work draws on Fisher's model to match supply strategy to product nature. However, Fisher's model was criticised very recently by Lo and Power in this journal because it is unclear how the “leagile” option should fit into it. This paper addresses this issue.

Design/methodology/approach

The new portfolio model is based on the literature, particularly Fisher's seminal work. It is then applied to two case studies; an electric boiler manufacturer and an elevator manufacturer, both in South Korea. The analytic hierarchy process (AHP) is used to position purchased components in the model.

Findings

Different purchasing strategies should be assigned to different components according to their impact on the competitive priorities. As the electric boiler is a functional product, while the elevator is an innovative product, the case studies show how this can vary across the two product‐types identified by Fisher.

Research limitations/implications

The new model has been tested on only two case studies, which limits the ability to generalise the findings. Future work will use the lean and agile purchasing portfolio model in research and knowledge exchange activities with other industrial partners to further develop and test its efficacy.

Originality/value

The new model captures the finding of Fisher and others that products should be classified as functional or innovation to determine their suitability for lean or agile supply respectively. However, this classification is extended here to the component level and with the addition of the leagile and non‐strategic supply options, and it depends on the impact a component has on the four competitive priorities; cost, quality, time and flexibility.

Details

Supply Chain Management: An International Journal, vol. 18 no. 1
Type: Research Article
ISSN: 1359-8546

Keywords

Article
Publication date: 2 November 2012

Matloub Hussain, Paul R. Drake and Dong Myung Lee

The purpose of this paper is to quantify the effect of design parameters on the bullwhip effect and dynamic responses produced by a multi‐echelon supply chain with information…

2099

Abstract

Purpose

The purpose of this paper is to quantify the effect of design parameters on the bullwhip effect and dynamic responses produced by a multi‐echelon supply chain with information sharing.

Design/methodology/approach

Taguchi design of experiments and system dynamics simulation are used to quantify the impact of a supply chain's design parameters, including degree of information sharing, on its dynamic performance, and the interactions that occur as the parameter values are varied.

Findings

Quantified relationships between supply chain design parameters and dynamic performance, including the bullwhip effect, are presented. Two parameters in particular, time to adjust inventory error and production lead time, are shown to have a particularly strong impact on the order variance compared to other parameters. However, there are several other significant findings.

Research limitations/implications

Batching and capacity constraints are common causes of the bullwhip effect, but they are not included here. Future work should quantify the impact of these.

Practical implications

This paper presents a systematic way for quantifying and understanding the impact of supply chain design parameters on the bullwhip effect and dynamic responses, and their interactions. The experimental results provide practical understanding for supply chain managers.

Originality/value

Previous studies have identified causes of the bullwhip effect but little attention has been given to quantifying their impact and interactions. This paper makes a contribution towards filling this gap, using system dynamics simulation and Taguchi design of experiments.

Details

International Journal of Physical Distribution & Logistics Management, vol. 42 no. 10
Type: Research Article
ISSN: 0960-0035

Keywords

Article
Publication date: 1 March 1988

Sungsoo Pyo and Richard L. Howell

During the early 1970s, per capita income of Koreans increased rapidly. The increased income was due to the speedy industrialization. Both increased income and mounting stress…

Abstract

During the early 1970s, per capita income of Koreans increased rapidly. The increased income was due to the speedy industrialization. Both increased income and mounting stress from jobs and the industrialized environment together induced Koreans to travel away from home to relax and regain strength to work.

Details

The Tourist Review, vol. 43 no. 3
Type: Research Article
ISSN: 0251-3102

Content available
Article
Publication date: 7 April 2015

Haozhe Chen

1661

Abstract

Details

International Journal of Physical Distribution & Logistics Management, vol. 45 no. 3
Type: Research Article
ISSN: 0960-0035

Article
Publication date: 5 September 2016

Yu-Mi Lee, Na-Young Lee, Myung-Sub Chung, Sang-Do Ha and Dong-Ho Bae

The purpose of this paper is to analyze the fat, saturated fatty acid and trans fatty acid contents in ready-to-eat foods distributed at amusement parks to develop an appropriate…

Abstract

Purpose

The purpose of this paper is to analyze the fat, saturated fatty acid and trans fatty acid contents in ready-to-eat foods distributed at amusement parks to develop an appropriate food safety management system for children.

Design/methodology/approach

In all, 322 ready-to-eat food samples categorized into 17 types were collected from nine Korean amusement parks and their fat, saturated fatty acid and trans fatty acid contents were assessed.

Findings

Fat, saturated fatty acid and trans fatty acid contents were relatively high in flour-based products. On the basis of the Korea Food and Drug Administration classification, the samples in 12 categories were classified as high-fat foods. The samples in nine categories were classified as high-saturated fatty acid foods. Most samples also contained non-negligible levels of trans fatty acids. The fat, saturated fatty acid and trans fatty acid contents of samples even in the same category varied markedly.

Social implications

This research will inform the necessity of an appropriate safety management system for ready-to-eat foods distributed at amusement.

Originality/value

Although the fat contents of foods distributed around school area were often observed, the potential risk of those in ready-to-eat foods distributed at amusement parks have rarely been assessed. As patterns of food intakes vary world-widely, a periodic monitoring data like this study may be useful for international organizations and researchers.

Details

British Food Journal, vol. 118 no. 9
Type: Research Article
ISSN: 0007-070X

Keywords

Article
Publication date: 12 February 2018

Yongbing Jiao, Myriam Ertz, Myung-Soo Jo and Emine Sarigollu

The purpose of this paper is to investigate the effects of culture, personality, and motivation on social and content value, which in turn affect brand equity in social media…

5158

Abstract

Purpose

The purpose of this paper is to investigate the effects of culture, personality, and motivation on social and content value, which in turn affect brand equity in social media brand community (SMBC) setting.

Design/methodology/approach

Online surveys were conducted with 595 SMBC participants in China and the USA. AMOS is used in SEM analysis.

Findings

Consumers with collectivistic, extroverted, and extrinsic orientation experience social value through social media participation. In contrast, consumers with individualistic and intrinsic orientation demonstrate content value. Furthermore, Chinese consumers show more social value and the US consumers more content value. Accordingly, the effect of social value (content value) on brand equity is stronger for Chinese (US) consumers.

Research limitations/implications

Culture was assessed only by individualism/collectivism, personality by extroversion/introversion and motivation by extrinsic/intrinsic. Future research should verify external generalizability beyond China and the USA.

Practical implications

Enhanced social and content value through consumers’ social media participation can increase brand equity. Thus, companies should motivate consumers to experience more value via social media participation, and, cultivate a multicultural climate and facilitate the exchange of culture.

Originality/value

First, this research redefines customer value into two components: social and content value. Second, this paper is the first to investigate the antecedents (i.e. culture, personality, and motivation) and the consequence (i.e. brand equity) of customer value in social media community settings. Third, this study illustrates differences in social media customer value experiences of Chinese vs US consumers.

Article
Publication date: 1 April 2013

Yeon‐Ok Lee and Han Woo Park

South Korea imposes more stringent restrictions on political speeches during elections than many other democratic countries. The purpose of this paper is to examine the…

Abstract

Purpose

South Korea imposes more stringent restrictions on political speeches during elections than many other democratic countries. The purpose of this paper is to examine the long‐standing conflict between citizens and institutions in the Korean electoral environment and the effects of the internet on this conflict.

Design/methodology/approach

The paper provides a case study of the 2007 presidential election in Korea. During the campaign period, two video clips (one on YouTube and the other on Daum, a major domestic web portal) emerged and implicated the then‐leading candidate in a financial scandal. The paper investigates how these video clips were shared and discussed among Korean voters, even though the country's election laws restricted the sharing of such information in cyberspace. The paper employs a combination of network analysis techniques, including hyperlink analysis, interaction network analysis, and semantic network analysis.

Findings

YouTube served as a medium for Korean voters to circumvent local electoral regulations, thus implying the neologism “cyber‐exile”. However, unlike Daum, YouTube failed to facilitate discussions on the posted video clip. The discussion through its comment feature was often derailed by irrelevant comments from seemingly uninterested parties. The address of the video clip was shared through personal blogs and online bulletin boards in Korean cyberspace, but these efforts led only to a fragmented sphere.

Research limitations/implications

Any comparison between YouTube and Daum should be made with caution because of inherent differences between the two platforms.

Practical implications

The results have important practical implications for those interested in designing e‐deliberation environments. For example, they should have a clearer understanding of the composition of users and the undesirable consequences of a fragmented public sphere.

Originality/value

This paper highlights how pre‐internet institutions shape its members’ political activity on the internet. In addition, the results clearly demonstrate that an innovative effort to circumvent barriers on the part of internet users is not enough to harness the potential of online discussions for a measured and sustained discourse on the issue at hand.

Article
Publication date: 22 March 2019

Tae Wan Kim

The purpose of this paper is to examine regional voting patterns in South Korea using the results from six presidential elections since the 1990s.

Abstract

Purpose

The purpose of this paper is to examine regional voting patterns in South Korea using the results from six presidential elections since the 1990s.

Design/methodology/approach

A χ2 test was used to determine the municipalities where a regional voting pattern emerged, and λ correlation coefficients were calculated to examine changes in the regional voting patterns.

Findings

The analyses lead to three key findings. First, voting patterns differ in Yeongnam and Honam: regional voting in Yeongnam is getting weaker, it remains strong in Honam. Second, the tendency to vote along regional lines decreased significantly in the election in which the Honam party fielded a candidate with a Yeongnam appeared identity. Third, regional voting patterns declined but then stabilized at a constant level, regardless of the candidates’ local identity, which was confirmed in “Bu-Ul-Gyeong.”

Originality/value

This paper can empirically verify the manifestation of regional voting pattern and confirm the trend. It is possible to derive a condition for suppressing the regional voting pattern.

Details

Asian Education and Development Studies, vol. 8 no. 3
Type: Research Article
ISSN: 2046-3162

Keywords

Open Access
Article
Publication date: 31 December 2009

Chang-Yeoul Choi and Joo-Young Lee

Since the declaration of reform and market opening from China in 1990, China has drawn much attention from the world thanks to its rapid economic growth and its emergence as the…

Abstract

Since the declaration of reform and market opening from China in 1990, China has drawn much attention from the world thanks to its rapid economic growth and its emergence as the world's major consumer market and the center of the global economy. Moreover, it established the new trade order, making East Asia the center of the new trade trend as it becomes a manufactural and sales stronghold of multinational companies. The Chinese distribution market is expected to show a high growth rate by 2010 and it draws attention as a new business sector which can bring huge profits. However, advancement of the Chinese distribution industry now faces systemic problems and research on such problems is insufficient. Therefore, in this study we will conduct SWOT analysis based on previous studies on the Chinese distribution industry and use it as a ground to propose strategic solutions for development.

Details

Journal of International Logistics and Trade, vol. 7 no. 2
Type: Research Article
ISSN: 1738-2122

Keywords

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