Showing papers in "International Entrepreneurship and Management Journal in 2010"
TL;DR: For instance, the authors found that men are more likely to think about creating a firm than being determined to do it, while women perceive higher congruence between masculine and entrepreneurial attributes.
Abstract: There is general agreement in previous research, drawing on the Theory of Planned Behaviour, that attitudes towards entrepreneurship are determining factors on entrepreneurial intention and gender also seems to play a key role. This study supports the core entrepreneurial intention model and focuses on the role of gender in this process, showing that men are more likely to think about creating a firm than being determined to do it. However, of those men, the ones who perceive higher congruence between masculine and entrepreneurial attributes are more likely to have a firm entrepreneurial intention. Also, both men and women with a firm entrepreneurial intention perceive successful entrepreneurs to have feminine attributes. This, together with the characteristics of the sample, may explain the lack of a gender difference in entrepreneurial intention.
376 citations
TL;DR: In this paper, the authors examined entrepreneurial intent in Romanian students using the Theory of Planned Behavior and found that selfefficacy and the desirabilities associated with creating a venture were positively related to entrepreneurial intent.
Abstract: This study examines entrepreneurial intent in Romanian students using the Theory of Planned Behavior (Ajzen, Adv. Exp. Soc. Psychol., 20:1–63, 1987). Using multiple regression analyses to test for mediation, we analyzed survey data from 324 Romanian students. Some of our findings were consistent with the Theory of Planned Behavior, while others were not. As expected, we found that self-efficacy and the desirabilities associated with creating a venture were positively related to entrepreneurial intent. However, surprisingly, we found that the more supportive the students’ referents were, the less likely the students were to have intentions of starting a business.
223 citations
TL;DR: In this article, the authors identify factors for poor performance and failure faced by small and medium-sized enterprises (SME) and investigate a potential bias between real causes and attribution for stranding.
Abstract: The objective of this study is to identify factors for poor performance and failure faced by small and medium-sized enterprises (SME) and to investigate a potential bias between real causes and attribution for stranding. In order to achieve this objective, we have adopted entrepreneurial personal story explorations in eight Portuguese SME. Our research reveals that the most important factors are limited access to finance, poor market conditions, inadequate staff, and lack of institutional support, as well as co-operation and networking. Hereby, at a first glance, external factors were more often cited, but qualitative analysis revealed that internal factors are imminent and not satisfactorily recognized. Even though some owner–managers showed a certain awareness regarding their internal weaknesses, many problems such as lacking strategy and vision, low educational levels, and inadequate social capital are not sufficiently recognized. Therewith, we found a strong attribution error when SME owner–managers judge the causes of their ventures’ unsuccessful performance and failure. Finally, we draw conclusions and suggestions for policymakers, small business owners, consultants, and researchers.
176 citations
TL;DR: In this paper, the authors examined the impact of necessity as a start-up motive on subsequent entrepreneurial satisfaction and found that necessity entrepreneurs are somewhat more likely to want to switch back to paid employment later in their entrepreneurial careers.
Abstract: Necessity entrepreneurship has been much debated in research and policy. This paper examines the impact of necessity as a start-up motive on subsequent entrepreneurial satisfaction. Empirically, the paper is based on a sample of 777 recently established Finnish micro enterprises. The results show that necessity entrepreneurs are somewhat more likely to want to switch back to paid employment later in their entrepreneurial careers. However, if the individual earns a satisfactory livelihood through self-employment, the negative effect of a necessity-based start-up on subsequent entrepreneurial satisfaction diminishes. Training in business skills that helps necessity entrepreneurs to run an economically viable business might thus increase their satisfaction with being self-employed.
158 citations
TL;DR: In this paper, the authors explore how coaching first reduces role conflicts associated with acting entrepreneurial and at the same time improving efficiency and reducing failure and secondly increases the entrepreneurial self-efficacy of employees.
Abstract: Increasingly companies seek to enhance employee entrepreneurial behaviour. In this study we explore how coaching first reduces role conflicts associated with acting entrepreneurial and at the same time improving efficiency and reducing failure and secondly increases the entrepreneurial self-efficacy of employees. Building on previous conceptual and empirical studies on intrapreneurship, social psychology and human resource management we formulate several hypotheses concerning the relationship between self-efficacy, coaching and entrepreneurial behaviour of account managers that are tested in the context of a large service organization operating in the financial sector. In doing so we confirm and extend our insights on entrepreneurial behaviour in existing companies.
130 citations
TL;DR: In this paper, the authors examined the relationship of entrepreneurial self-efficacy and entrepreneurial intention in the Turkish culture Sub-dimensions of ESE were investigated and the level of entrepreneurial intention was discussed The sample comprised of 245 undergraduate students of a university in Turkey.
Abstract: This paper examines the relationship of entrepreneurial self-efficacy (ESE) and entrepreneurial intention in the Turkish culture Sub-dimensions of ESE were investigated and the level of entrepreneurial intention was discussed The sample comprised of 245 undergraduate students of a university in Turkey Results suggest that students have a high intention to be entrepreneurs ESE has a strong effect on entrepreneurial intention, but sub-dimensions of ESE have different impacts The results of the study were compared with a previously published study conducted in the USA and Korea by a group of researchers In this comparison, the national cultural context was considered as an influential factor in entrepreneurship
123 citations
TL;DR: In this paper, the authors highlight the barrier for women for entrepreneurial growth and use of ICT with special reference to Middle East countries with the case related to women in two gulf countries.
Abstract: The main objective of the paper is to elaborate and suggest positive note on basic agenda existing in Middle East resisting the women entrepreneur growth development and use of ICT. The entrepreneurship among the women in Arabic countries has been lately given due consideration. In order for develop women entrepreneurship for economic growth their must be strong move by all stakeholders. ICT enables women entrepreneurs to extend equal participation compared to the male in the growth and development of the nation’s economy. The extended use of ICT will help the entrepreneur for creating advantage, research; participate in the global world of business for technology transfer, training, collaboration, and development initiatives at the global level. The paper tries to highlight the barrier for women for entrepreneurial growth and use of ICT with special reference to Middle East countries. The case related to women in two gulf countries will elaborate the deep insight of the issue.
119 citations
TL;DR: In this article, the authors define Indigenous entrepreneurship as a distinct disciplinary field of science and chart for it a pre-paradigmatic framework, and provide both a formal definition of the field and diagrammatic framework to describe it.
Abstract: This study defines Indigenous entrepreneurship as a distinct disciplinary field of science and charts for it a pre-paradigmatic framework. A strategy of literature search and examination was utilized to argue that Indigenous entrepreneurship is sufficiently distinguished from both mainstream entrepreneurship and other social and management sciences to constitute a legitimate, well-defined sub-field of research in its own right. The study provides both a formal definition of the field and diagrammatic framework to describe it.
119 citations
TL;DR: In this paper, three research categories for university-level entrepreneurship are identified and examined, namely entrepreneurial university, academic entrepreneurship and university technology transfer, and a framework depicting the relationship of the three categories is developed and discussed.
Abstract: Research into the nature, antecedents and effects of university-level entrepreneurship has grown due to the emergence of the university technology transfer phenomenon and the evolution of university's role in national innovation systems and economic development From the literature survey, three research categories for university-level entrepreneurship are identified and examined namely entrepreneurial university, academic entrepreneurship and university technology transfer Then, a framework depicting the relationship of the three research categories is developed and discussed Lastly, recommendations are made for future research and analysis
113 citations
TL;DR: In this paper, the authors investigated influences on the idea creation, risk taking, and proactiveness perceptions of upper managers in a random sample of 105 Thai manufacturing firms, and found that these managers' idea generation was influenced by the type of product produced, the size of the company, and the extent of firm support for individual entrepreneurship.
Abstract: Because upper managers have the responsibility to set the corporate entrepreneurship agenda, their entrepreneurial characteristics matter to a firm's successful implementation of corporate entrepreneurship. This study investigated influences on the idea creation, risk taking, and proactiveness perceptions of upper managers in a random sample of 105 Thai manufacturing firms. Results indicate that these managers' idea generation was influenced by the type of product produced, the size of the company, and the extent of firm support for individual entrepreneurship. Managerial risk taking was associated with firm size and extent of support for personal entrepreneurship. Managerial proactiveness as associated only with the scope of firms' competition, firm size, organizational entrepreneurial climate and support for personal entrepreneurship. Results suggest that firm context can influence the basis for corporate entrepreneurship.
101 citations
TL;DR: In this paper, the authors analyzed the effects of prior knowledge and social networks on the exploitation of entrepreneurial opportunities and found that prior knowledge is associated with the successes and failures experienced in the entrepreneurial trajectory.
Abstract: In this study we analyze the effects of prior knowledge and social networks on the exploitation of entrepreneurial opportunities. The prior knowledge considered is associated with the successes and failures experienced in the entrepreneurial trajectory and, therefore, derived from the exploitation of prior opportunities. In analyzing social networks, we examine the strength of the relationships between entrepreneurs, managers and entrepreneurial associations. As an explanatory factor of the entrepreneurial process, we also include the influence of the entrepreneurial opportunities recognized. Through a hierarchical regression analysis, we show that the number of potential opportunities recognized, the number of previous opportunities successfully exploited and the strength of entrepreneurial social networks positively influence the number of opportunities developed and exploited.
TL;DR: The role of entrepreneurship as the driving force of economic growth found its most explicit foundation in simple intuition, common sense and pure economic observation: activities to convert ideas into economic opportunities lie at the very heart of entrepreneurship as mentioned in this paper.
Abstract: The hypothesis that entrepreneurship is linked to economic growth finds it’s most immediate foundation in simple intuition, common sense and pure economic observation: activities to convert ideas into economic opportunities lie at the very heart of entrepreneurship. Entrepreneurship is a source of innovation and change, and as such spurs improvements in productivity and economic competitiveness. The entrepreneur has been a fundamental agent in most production, distribution and growth theories. The role of entrepreneurship as the driving force of economic growth found its most explicit foundation. Empretec was established in 1988 to promote entrepreneurship in developing countries. Empretec’s programs have been initiated in 27 countries plus additional centers in Brazil, assisting more than 80, entrepreneurs through local driven business support centers. The information collected for this paper was secondary data rather than conducting survey. Therefore, one objectives of this paper is to examine the exact nature of entrepreneurship and its role in economic theory.
TL;DR: This article analyzed the relationship between entrepreneurship, income distribution and economic growth following the ideas developed by Schumpeter and compared them from a empirical analysis using the GEM (Global Entrepreneurship Monitor) data.
Abstract: Traditionally different factors and variables have been considered in the economic growth models. Following Solow’s model, economists considered physical capital and technology during 1950s–1980s. With the introduction of endogenous growth models, new forms of capital were introduced in the production function; human capital, public capital and more recently social capital. However, the consideration of qualitative variables is necessary to improve the economic growth analysis. The improvement of statistical information has favored their introduction in the economic growth models. Recently, “entrepreneurship” concept has been considered in this type of analysis. Entrepreneurship considers the capacity and ability to create new business and production activity. It is an activity not an occupation. Some authors like Schumpeter have included it in their models and they have analysed its effects on economic growth. But it is also necessary to include the role of social climate, that in a schumpterian way it could be represented by income distribution. The main objective of the paper is to analyze the relationship between entrepreneurship, income distribution and economic growth following the ideas developed by Schumpeter and we will contrast them from a empirical analysis using the GEM (Global Entrepreneurship Monitor) data.
TL;DR: This article examined the determinants of obtaining bank finance conditional upon applying and found that well performing firms are more likely to ask for credit because of better business prospects in the future, but profitability as a measure of firm performance does not seem to be sufficient signaling for banks in order to allocate credits.
Abstract: This article uses firm level data from an SME survey conducted by Riinvest Institute in 2006 in order to examine the determinants of obtaining bank finance conditional upon applying. The results of the survey show that not all the firms receive credit they apply for, suggesting a slight excess of demand over supply of credit. Unlike some other studies in transition economies this article corrects for sample selection bias. Econometric evidence indicates that commercial banks base their decision to loan firms primarily on the basis of collateral. Well performing firms are more likely to ask for credit because of better business prospects in the future, but profitability as a measure of firm performance does not seem to be sufficient signaling for banks in order to allocate credits. Banks seems to prefer more to secure themselves from likely opportunistic behavior of potentially “bad borrowers” with use of collateral. Findings are in line with theoretical and empirical arguments that systematic use of collateral can mitigate the adverse selection by banks in choosing whom to allocate the credit especially in country with turbulent political environment and weak property right system. However, unlike other studies findings suggest that the rhetoric of financial constraints to some extent has been exaggerated in a transition context.
TL;DR: In this paper, the authors have concluded that job satisfaction and commitment to the team are factors that have a direct and positive effect on collective entrepreneurship, which is understood to be the collective ability to create and innovate on the part of the team, the firm or the organization.
Abstract: In the current global corporate climate that surrounds us, firms would do well to encourage the talent and creativity of their employees in order to achieve success. This is achieved, not by giving priority to individual talent, but by optimizing the collective as a whole and the firm’s activity based on team work and joint effort. Heads of organizations might benefit from creating a favorable context for the birth and growth of collective internal cooperation, which is understood to be the collective ability to create and innovate on the part of the team, the firm or the organization. Having contrasted our hypotheses through research on Spanish firms, we have concluded that job satisfaction and commitment to the team are factors that have a direct and positive effect on collective entrepreneurship.
TL;DR: In this article, the authors describe, analyze and do interpret the phenomenon of managerial entrepreneurship from the interdisciplinary point of view in such a way that the foundation is to respond to the question how to understand the entrepreneurship?, to build starting from their evolution diverse perspectives that enrich their analysis and study that make understand that the entrepreneurship is a practical, simple and complex phenomenon that the managers experience directly in their activities and functions, as a breaking act and improvement of the conditions of life of the society.
Abstract: Is the purpose of this speech to build in an eclectic and holistic way the bases of a theoretical mark that it describes, analyze and do interpret the phenomenon of the managerial entrepreneurship from the interdisciplinary point of view in such a way that the foundation is to respond to the question how to understand the entrepreneurship?, to build starting from their evolution diverse perspectives that you/they enrich their analysis and study that make understand that the entrepreneurship is a practical, simple and complex phenomenon that the managers experience directly in their activities and functions, as a breaking act and improvement of the conditions of life of the society. It is sought to analyze and to propose perspectives of study of the entrepreneurship of the managers, their personal characteristics, as their social, political, economic and cultural implications, from the interdisciplinary point of view in the mark of the investigation line entrepreneurship and Managerial Mentality that he/she interprets their purpose action, administration, innovation and mainly their relationship with the environment, so momentous for the growth of the companies.
TL;DR: In this article, the authors focus on medium-sized enterprises and highlight some of the factors that significantly determine the growth of medium-size enterprises, including proactivity, risk taking posture and investment aimed at growth.
Abstract: Due to the polarisation of the Italian production system into small and large enterprises, the role of medium-sized enterprises has been largely neglected. As a consequence, studies analysing the factors that affect economic development in Italy have mainly focused on the role of small businesses or on aggregates of small and medium-sized enterprises. This study contributes to the literature by focusing on medium-sized enterprises, and the study has a two-fold aim. First, our study aimed to identify the growth factors specific to medium-sized enterprises in comparison with small enterprises. Second, of the factors that determine the growth of medium-size enterprises, we aimed to identify factors with entrepreneurial characteristics. To investigate these two aims, we surveyed and analysed medium-sized enterprises operating in the Italian region of Bergamo. Our findings highlight some of the factors that significantly determine the growth of medium-sized enterprises, including proactivity, risk taking posture and investment aimed at growth.
TL;DR: This paper found that there is a positive relationship between informal sector activities and investment in developing countries, and suggested a review of the standard thinking towards the role of the informal sector in development.
Abstract: For a long time economic researchers condemned the existence of a huge informal sector in economies, viewing it as a deterrent to investment, growth and development. This view is however being confronted with intense criticism particularly in developing countries where formal unemployment is rapidly growing and poverty widely spreading, which in turn is leading to an expanding informal sector. Thus alternative schools of thought that view the informal sector as a source of livelihood to the unemployed and poor have subsequently been developed. However, not much empirical work has been carried out to validate any of these theoretical claims, particularly in African economies. This paper attempts to fill this gap. The findings of the study indicate that there is a positive relationship between informal sector activities and investment. These results suggest a review of the standard thinking towards the role of the informal sector in development.
TL;DR: In this article, the authors explored the funding issues at the early stages of development of computer software and biotechnology small firms in the UK and found that software firms reported more funding problems than the biotechnology firms.
Abstract: This study explores the funding issues at the early stages of development of computer software and biotechnology small firms in the UK. This study reviewed previous relevant literature in this area and presents empirical evidence derived from an extensive online questionnaire survey. The sample contains a total of 83 small firms, which includes 41 biotechnology and 42 software firms. With regards to funding issues, we found that software firms reports more funding problems than the biotechnology firms. Software firms are fastest growing firms and goes through the early stages of development quicker than the biotechnology firms. With regards to the sources of funding the evidence shows that biotechnology small firms mainly use venture capital finance whilst the main source of funding for the software firms are personal savings and house mortgage/re-mortgage. On the one hand, software firms seem to follow the pecking order hypothesis whilst financing their business growth and development. On the other hand, the pecking order hypothesis may not be fully followed by the biotechnology small firms. However, both software and biotechnology small firms report difficulties in securing equity finance. Software firms are financially constrained not only due to the supply side financial constraints but also by the demand side financial constraints.
TL;DR: In this article, the authors focused on the prevalence of teams in the firms owned by habitual and first-time entrepreneurs and found that a closure experience decrease the probability of solo entrepreneurship.
Abstract: This study focused on the prevalence of teams in the firms owned by habitual and first-time entrepreneurs. Most team-oriented studies in the field of entrepreneurship have rather focused on entrepreneurial than management teams. In this study, we extend the prior research by linking management teams to the discussion and by paying attention a previous closure experience of an entrepreneur. The research revealed that management teams were more common in the firms owned by habitual than first-time entrepreneurs. Correspondingly, there were more solo entrepreneurs among the first-time entrepreneurs. The results also suggest that a closure experience decrease the probability of solo entrepreneurship.
TL;DR: In this article, an empirical examination of entrepreneurial framework conditions, the environmental conditions that encourage and support entrepreneurial activity at the national level, is presented, in particular the framework conditions employed in the Global Entrepreneurship Monitor (GEM), a multi-year, multinational study of entrepreneurial activity widely used in entrepreneurship research.
Abstract: This report is an empirical examination of entrepreneurial framework conditions—the environmental conditions that encourage and support entrepreneurial activity at the national level. In particular, it attempts to validate the framework conditions employed in the Global Entrepreneurship Monitor (GEM), a multi-year, multinational study of entrepreneurial activity widely used in entrepreneurship research. The validity of the GEM entrepreneurial framework conditions is examined using empirical analysis of data drawn from Global Competitiveness Report measures for 53 countries over 4 years. The data suggest an alternative conceptualization of entrepreneurial framework conditions: commercial munificence, technology openness, regulatory openness, and technology influx. These findings have implications for theorists and policy makers interested in antecedents to entrepreneurially based economic growth.
TL;DR: In this paper, a three-stage theory-building framework is proposed to assist scholars in addressing theoretical and coverage biases by means of the appropriate design of cross-domain theory building research.
Abstract: In this paper, we advance a three-stage theory-building framework to assist scholars in addressing theoretical and coverage biases by means of the appropriate design of cross-domain theory-building research. In our discussion, we use an example from research in international entrepreneurship, which has been emerging as a cross-domain area for the entrepreneurship and international business research communities since the mid-1990s. Theoretical bias can stem from the situation where the conceptualisation of a phenomenon whose research is currently emerging and depends upon several of the established disciplines of social science and their sub-domains, is in fact dominated by the theoretical approaches of a single domain. As to the coverage bias, the somewhat novel research domain of international entrepreneurship provides us with a means to illustrate how research in an emerging domain tends to focus on positive growth only and rarely takes appropriately into account companies that fare less well; for instance, accounting for survivor bias would require that scholars carefully acknowledge firms that go out of business for one reason or another. Observations from a longitudinal, multiple-case study research on the de-internationalisation of small high-technology firms is used to exemplify the structure of our framework.
TL;DR: In this article, the authors investigate how knowledge combination in networks underlies the international venturing of four small biotech firms and demonstrate that international venturings are strongly shaped by proactive strategies of identifying and implementing knowledge combinations that span across internationally dispersed network relationships.
Abstract: Although international forms of venturing are critical for the sustained economic growth of small firms, this phenomenon remains surprisingly unexplored in international small business research. This study aims to contribute to this field by shedding light on the underlying factors of the international venturing of these firms. In this endeavor, the study rests on the assumption that knowledge combination in networks is a critical requisite for seizing business opportunities in foreign markets. Hence, the specific purpose of this study is to investigate how knowledge combination in networks underlies the international venturing of four small biotech firms. The findings demonstrate that international venturings are strongly shaped by proactive strategies of identifying and implementing knowledge combinations that span across internationally dispersed network relationships. The findings also reveal that different strategies of knowledge combination in networks are pursued depending on the nature of the venture (namely, international product ventures and international market ventures).
TL;DR: In this paper, the authors study the reasons why some individuals decide to create non-profit organisations instead of for-profit firms and do so under liquidity constraint, and find that non-profits enter at higher optimal levels of production, and are more constrained by access to credit.
Abstract: Many non-profit enterprises are created ex-nihilo by individuals. The choice of non-profit status may be all the more surprising since this legal form denies founders the right to appropriate profits from the invested capital. The aim of this article is to understand the reasons why some individuals decide to create non-profit organisations instead of for-profit firms and do so under liquidity constraint. The model suggests that non-profit organisations enter at higher optimal levels of production, and are more constrained by access to credit. Moreover, non-profit entrepreneurs are more managerially efficient than their for-profit counterparts. However they cannot allocate capital as efficiently as the for-profit firms would do.
TL;DR: In this article, two new characteristics of firms, functional dependence and productive dependence, are introduced to evaluate the roll of entrepreneurial tissue in the territorial economic growth: functional dependence is defined from a macroeconomic point of view.
Abstract: This article introduce two new characteristics of firms, which are important, from a macroeconomic view, to evaluate the roll of entrepreneurial tissue in the territorial economic growth: functional dependence and productive dependence. An empirical analysis has been formulated in order to contrast the importance of these entrepreneurial characteristics, and try to show its relation with territorial economic growth.
TL;DR: In this article, the authors assess the current state of measurement practices in entrepreneurship by content analyzing recent empirical research published in several leading journals and find that, in general, extant research relies far too heavily on measures that do not allow for the assessment of reliability.
Abstract: Construct measurement practices lay at the foundation of empirical research. They are central considerations for entrepreneurship researchers and for consumers of entrepreneurship-related research findings. Yet, little is known about the extent to which entrepreneurship researchers currently take into account these considerations. In this study, we assess the current state of measurement practices in entrepreneurship by content analyzing recent empirical research published in several leading journals. Our findings indicate that, in general, extant research relies far too heavily on measures that do not allow for the assessment of reliability. We offer important implications and provide ways to help surmount these challenges.
TL;DR: In this paper, the authors explored neighborhood social networks and female self-employment earnings and found that the evidence from linear regression and endogenous treatment effect models suggests that an individual's past provision of personalized assistance to adjacent neighbors significantly increases current self-employed earnings, with corrections for self-selection into network participation.
Abstract: Using the sample of Taiwanese female self-employed workers from the Taiwan Women and Family Survey (TWFS) conducted in 1989, this article explores neighborhood social networks and female self-employment earnings. The evidence from linear regression and endogenous treatment effect models suggests that an individual’s past provision of personalized assistance to adjacent neighbors significantly increases current self-employment earnings, with corrections for self-selection into network participation. An individual’s past voluntary contributions to community organizational activities also significantly increase current earnings, both with and without corrections for self-selection. However, there are negative self-selections into both cooperative neighborhood networks and community organizational activities in the sense that female self-employed workers with high earnings capacity are less likely to choose to participate in these types of social networks.
TL;DR: In this paper, a four-quadrant typology of expatriates draws attention to important differences in expatriate types, using the notions of comparative fit and normative fit from self-categorization theory.
Abstract: As barriers to globalization have steadily diminished, the number of entrepreneurial and noncommercial expatriates have grown from a trickle to a torrent. Much of what we know about expatriatism may not apply to this new breed of expatriates. A four-quadrant typology of expatriates draws attention to important differences in expatriate types. I make use of the notions of comparative fit and normative fit from self-categorization theory to validate the typology. Examining the experiences of 160 expatriates demonstrates that the proposed typology represents real differences and is invoked by expatriates in the field. Scholars may apply this typology to explain inconsistent findings in extant studies and as a guide for the development of new research questions.
TL;DR: Audretsch as mentioned in this paper argues that the combination of technological advancements and globalization have led a baby boom generation to manage things differently, and that the world becomes more "flat" in the future.
Abstract: Where does entrepreneurship start? Moreover, what is so different about entrepreneurship in this New Age of innovation? What do entrepreneurs do when the world becomes more ‘flat’? According to The Entrepreneurial Society by David Audretsch something novel is happening, something only Schumpeter (1942) could have imagined. He argues that the combination of technological advancements and globalization have led a baby boom generation to manage things differently.