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The sharing economy is emerging as one of the hottest issues of the Fourth Industrial Revolution. The ownership paradigm was dominant during the First and Second Industrial Revolutions, so the formation of the sharing economy was almost non-existent, but it has grown to 5% of the global GDP during the Third Industrial Revolution as the sharing paradigm became prominent. It is expected that the scale of the sharing economy will reach up to 50% of the global economy by 2025 as the online to offline convergence (O2O) phenomenon (GE, 2012). The sharing economy is generally considered complex, diverse, and simply chaotic territory due to its various meanings or types despite its importance. In short, there is a great need to do more research to develop a unified model of the sharing economy. Our study defines sharing economy as “an activity where economic agents share economic objects together to create values”. The KCERN Sharing Economy Cube Model presented in the study is a unified model where the subjects of sharing—supply, market platform, demand, etc.—share the objects of sharing—information, materials, relations, etc.—in order to engage in economic activities, both for profit and nonprofit, to create values. The model reflects all these activities and encompasses all the other definitions of the sharing economy. This study aims to systematically draw a roadmap for the national sharing economy in the ongoing Fourth Industrial Revolution era based on the integrative sharing platform economy model.
Yeji Kim; Minhwa Lee. Typology and Unified Model of the Sharing Economy in Open Innovation Dynamics. Journal of Open Innovation: Technology, Market, and Complexity 2019, 5, 102 .
AMA StyleYeji Kim, Minhwa Lee. Typology and Unified Model of the Sharing Economy in Open Innovation Dynamics. Journal of Open Innovation: Technology, Market, and Complexity. 2019; 5 (4):102.
Chicago/Turabian StyleYeji Kim; Minhwa Lee. 2019. "Typology and Unified Model of the Sharing Economy in Open Innovation Dynamics." Journal of Open Innovation: Technology, Market, and Complexity 5, no. 4: 102.
The purpose of a Smart City is to solve its inherent problems while simultaneously reducing its expenditure and improving its quality of life. Through the 4th Industrial Revolution technology, the advantages of Smart City are estimated to overcome the city’s expenses with city platformization. While a city traditionally is the subject of creation and not consumption, a Smart City currently is the key industry in generating more than 60% of its GDP in value creation from a production viewpoint. Moreover, with the expansion of online-offline convergence, cities can grow without limitation on its size, where connectivity and innovation determine the inclination of the city’s benefit-cost curve. As a city platform is responsible for connectivity, its value drastically increases through the 4th Industrial Revolution’s O2O (online to offline convergence) platform. When a city reflects on its own as a Digital Twin in the Cloud and when complete information becomes accessible through citizen’s participation through smartphones (Edge), Self-organization takes place, an ideal linkage between the city and citizens. Cities go through the self-organizing process of complex adaptive systems like the human brain. This research proposes a future model of a “Self-organizing City,” and suggests implementing the Smart City model based on the Smart City Tech-Socio Model in implementing strategies.
Yeji Yun; Minhwa Lee. Smart City 4.0 from the Perspective of Open Innovation. Journal of Open Innovation: Technology, Market, and Complexity 2019, 5, 92 .
AMA StyleYeji Yun, Minhwa Lee. Smart City 4.0 from the Perspective of Open Innovation. Journal of Open Innovation: Technology, Market, and Complexity. 2019; 5 (4):92.
Chicago/Turabian StyleYeji Yun; Minhwa Lee. 2019. "Smart City 4.0 from the Perspective of Open Innovation." Journal of Open Innovation: Technology, Market, and Complexity 5, no. 4: 92.
With the advent of the Fourth Industrial Revolution, the role of entrepreneurs has become more crucial than ever. As a result, an open innovation model is suggested here that can promote serial entrepreneurs by answering the following question: “How does the serial entrepreneur in open innovation conditions continuously identify business opportunities?” This question is answered through an in-depth case study of Medison from 1985 to 2016, as Medison is not only a representative Korean medical device company, but is also a representative example of serial entrepreneurship in Korea. First, we examined the diverse open innovation channels, such as spin-offs, venture investment, and joint venture, used by Medison before it was merged with Samsung. Second, we examined the open innovation serial entrepreneurs of Medison and then analyzed the direct serial entrepreneurs of Medison. Fourth, we built a causal loop model of Medison open innovation with emergence and complexity combined. Finally, a sustainable open innovation strategy and an approach to sustainable serial entrepreneurship was formulated. The foundation of this research is as follows. First, an open innovation strategy can be a strong motivator for serial entrepreneurs. Second, a balance between emergence and complexity is required to trigger sustainable serial entrepreneurs of open innovation.
JinHyo Joseph Yun; Minhwa Lee; KyungBae Park; Xiaofei Zhao. Open Innovation and Serial Entrepreneurs. Sustainability 2019, 11, 5055 .
AMA StyleJinHyo Joseph Yun, Minhwa Lee, KyungBae Park, Xiaofei Zhao. Open Innovation and Serial Entrepreneurs. Sustainability. 2019; 11 (18):5055.
Chicago/Turabian StyleJinHyo Joseph Yun; Minhwa Lee; KyungBae Park; Xiaofei Zhao. 2019. "Open Innovation and Serial Entrepreneurs." Sustainability 11, no. 18: 5055.
Since Klaus Schwab and the World Economic Forum declared the arrival of the Fourth Industrial Revolution, there has been much discussion about it. However, there is no commonly agreed-upon definition of the Fourth Industrial Revolution. Therefore, we attempted to answer the following four research questions. “What is the definition of the Fourth Industrial Revolution?”, “How can we respond to the Fourth Industrial Revolution in terms of institutions?”, “How can we respond to the Fourth Industrial Revolution in terms of technology?”, “How can we respond to the Fourth Industrial Revolution in terms of firm innovation and start-up strategy?” Brainstorming was conducted by 11 scholars from several countries to answer these four research questions. Therefore, this research is not the end product of four research questions, but a kind of advanced template to answer the four research questions for continuing research.
Minhwa Lee; JinHyo Joseph Yun; Andreas Pyka; Dongkyu Won; Fumio Kodama; Giovanni Schiuma; Hangsik Park; Jeonghwan Jeon; KyungBae Park; Kwangho Jung; Min-Ren Yan; SamYoul Lee; Xiaofei Zhao. How to Respond to the Fourth Industrial Revolution, or the Second Information Technology Revolution? Dynamic New Combinations between Technology, Market, and Society through Open Innovation. Journal of Open Innovation: Technology, Market, and Complexity 2018, 4, 21 .
AMA StyleMinhwa Lee, JinHyo Joseph Yun, Andreas Pyka, Dongkyu Won, Fumio Kodama, Giovanni Schiuma, Hangsik Park, Jeonghwan Jeon, KyungBae Park, Kwangho Jung, Min-Ren Yan, SamYoul Lee, Xiaofei Zhao. How to Respond to the Fourth Industrial Revolution, or the Second Information Technology Revolution? Dynamic New Combinations between Technology, Market, and Society through Open Innovation. Journal of Open Innovation: Technology, Market, and Complexity. 2018; 4 (3):21.
Chicago/Turabian StyleMinhwa Lee; JinHyo Joseph Yun; Andreas Pyka; Dongkyu Won; Fumio Kodama; Giovanni Schiuma; Hangsik Park; Jeonghwan Jeon; KyungBae Park; Kwangho Jung; Min-Ren Yan; SamYoul Lee; Xiaofei Zhao. 2018. "How to Respond to the Fourth Industrial Revolution, or the Second Information Technology Revolution? Dynamic New Combinations between Technology, Market, and Society through Open Innovation." Journal of Open Innovation: Technology, Market, and Complexity 4, no. 3: 21.
Junic Kim; Achim Jang; Minhwa Lee. The Effects of Venture Companies’ Core Competence and Cooperation Strategy on their Business Performance. The e-Business Studies 2016, 17, 91 .
AMA StyleJunic Kim, Achim Jang, Minhwa Lee. The Effects of Venture Companies’ Core Competence and Cooperation Strategy on their Business Performance. The e-Business Studies. 2016; 17 (2):91.
Chicago/Turabian StyleJunic Kim; Achim Jang; Minhwa Lee. 2016. "The Effects of Venture Companies’ Core Competence and Cooperation Strategy on their Business Performance." The e-Business Studies 17, no. 2: 91.
Junic Kim; Minhwa Lee; Achim Jang. 벤처 기업 생태계에서의 협력과 핵심역량 분석. The e-Business Studies 2016, 17, 91 -125.
AMA StyleJunic Kim, Minhwa Lee, Achim Jang. 벤처 기업 생태계에서의 협력과 핵심역량 분석. The e-Business Studies. 2016; 17 (2):91-125.
Chicago/Turabian StyleJunic Kim; Minhwa Lee; Achim Jang. 2016. "벤처 기업 생태계에서의 협력과 핵심역량 분석." The e-Business Studies 17, no. 2: 91-125.