This preliminary study is conducted based on some assumptions. First, explosive growth of venture-business does have profound and society-wide implications. Second, the venture-business model may thus serve as a guideline upon which we can use against the tidal wave of digital revolution. Third, from the point of HRD(Human Resources Development), venture-business practices are a valuable research material for innovative and effective HRD.
Based on these assumptions, the purpose of this study was to analyse the conceptual relationships between HRD and venture-business model so that a future directions for HRD in digitalized environments might be proposed.
First, this study attempted a synthesis of definitions for venture-business. On one side, venture-business denoted high-risk, high-return enterprises while another group defines it as a innovative and technology-intensive enterprises. The common elements were innovativeness, creativity, and knowledge-intensive small to medium business units.
Second, available data on Korean venture-business map was analysed to confirm the definitions. Results indicate that Korean venture-business fit into forementioned elements of venture-firms.
Third, a theoretical model of venture-business and HRD was proposed which argued that the venture-firms, HRD, and Knowledge management model all indicate a common objective as the strengthening of knowledge capabilities.
Fourth, this study attempted a verification of venture-HRD-knowledge management model by conducting a series of interviews with venture firm employees and managers. The results show that the model fits generally well with the venture-firm practices.
In conclusion, this study provided that there are clear and critical interrelationships between HRD and venture which will influence each other's further development. Based on this preliminary study findings a recommendations for further studies were proposed.