Showing papers on "Entrepreneurship published in 2005"
TL;DR: In this paper, a framework is presented that explains the existence of international new ventures by integrating international business, entrepreneurship, and strategic management theory, and it describes four necessary and sufficient elements for such organizations: organizational formation through internalization of some transactions, strong reliance on alternative governance structures to access resources, establishment of foreign location advantages, and control over unique resources.
Abstract: Organizations that are international from inception – international new ventures – form an increasingly important phenomenon that is incongruent with traditionally expected characteristics of multinational enterprises. A framework is presented that explains the phenomenon by integrating international business, entrepreneurship, and strategic management theory. That framework describes four necessary and sufficient elements for the existence of international new ventures: (1) organizational formation through internalization of some transactions, (2) strong reliance on alternative governance structures to access resources, (3) establishment of foreign location advantages, and (4) control over unique resources.
3,148 citations
TL;DR: In this paper, the authors put forward a view of social entrepreneurship as a process that catalyzes social change and/or addresses important social needs in a way that is not dominated by direct financial benefits for the entrepreneurs.
Abstract: Social entrepreneurship, as a practice and a field for scholarly investigation, provides a unique opportunity to challenge, question, and rethink concepts and assumptions from different fields of management and business research. This paper puts forward a view of social entrepreneurship as a process that catalyzes social change and/or addresses important social needs in a way that is not dominated by direct financial benefits for the entrepreneurs. Social entrepreneurship is seen as differing from other forms of entrepreneurship in the relatively higher priority given to promoting social value and development versus capturing economic value. To stimulate future research the authors introduce the concept of embeddedness as a nexus between theoretical perspectives for the study of social entrepreneurship. Different research methodologies and their implications are discussed.
2,804 citations
TL;DR: In this article, the authors describe how entrepreneurship has emerged over the last two decades as arguably the most potent economic force the world has ever experienced with that expansion has come a similar increase in the field of ent
Abstract: Entrepreneurship has emerged over the last two decades as arguably the most potent economic force the world has ever experienced With that expansion has come a similar increase in the field of ent
2,019 citations
TL;DR: In this paper, a reformulated definition of international entrepreneurship is proposed and a model is presented of how the speed of entrepreneurial internationalization is influenced by various forces, such as enabling forces of technology, motivating forces of competition, mediating perceptions of entrepreneurs, and moderating forces of knowledge and networks.
Abstract: This article provides a reformulated definition of international entrepreneurship. Consistent with the new definition, a model is presented of how the speed of entrepreneurial internationalization is influenced by various forces. The model begins with an entrepreneurial opportunity and depicts the enabling forces of technology, the motivating forces of competition, the mediating perceptions of entrepreneurs, and the moderating forces of knowledge and networks that collectively determine the speed of internationalization.
1,739 citations
TL;DR: The Global Entrepreneurship Monitor research program was designed as a comprehensive assessment of the role of entrepreneurship in national economic growth as discussed by the authors, which reflected a wide range of factors associated with national variations in entrepreneurial activity and the major contextual features.
Abstract: The Global Entrepreneurship Monitor research program was designed as a comprehensive assessment of the role of entrepreneurship in national economic growth. The conceptual model reflected in a wide range of factors associated with national variations in entrepreneurial activity and the major contextual features. Empirical tests of the many relationships in the model required four major data collection activities: adult population surveys, unstructured interviews with national experts, self-administered questionnaires completed by national experts, and assembly of relevant standardized measures from existing cross-national data sets. Adult population surveys were implemented to identify those entrepreneurially active, which required a set of precise criteria and careful processing to ensure harmonized counts and prevalence rates across 41 countries. Existing evidence on measures of reliability indicates that the measures met contemporary standards and the project was cost-effective.
1,569 citations
TL;DR: The authors used an augmented Cobb-Douglas production to explore firm formation and technological innovation as separate determinants of growth, finding that only high growth potential entrepreneurship has a significant impact on economic growth.
Abstract: Studies on the impact of technological innovation on growth have been largely mute on the role of␣new firm formation. Using cross-sectional data on the 37 countries participating in GEM 2002, this paper uses an augmented Cobb–Douglas production to explore firm formation and technological innovation as separate determinants of growth. One area of interest is the contrast between different types of entrepreneurial activities as measured using GEM Total Entrepreneurial Activity (TEA) rates – high growth potential TEA, necessity TEA, opportunity TEA and overall TEA. Of the four types of entrepreneurship, only high growth potential entrepreneurship is found to have a significant impact on economic growth. This finding is consistent with extant findings in the literature that it is fast growing new firms, not new firms in general, that accounted for most of the new job creation by small and medium enterprises in advanced countries.
1,395 citations
TL;DR: This article found that entrepreneurial activity by nascent entrepreneurs and owner/managers of young businesses affects economic growth, but that this effect depends upon the level of per capita income, which suggests that entrepreneurship plays a different role in countries in different stages of economic development.
Abstract: Entrepreneurial activity is generally assumed to be an important aspect of the organization of industries most conducive to innovative activity and unrestrained competition. This paper investigates whether total entrepreneurial activity (TEA) influences GDP growth for a sample of 36 countries. We test whether this influence depends on the level of economic development measured as GDP per capita. Adjustment is made for a range of alternative explanations for achieving economic growth by incorporating the Growth Competitiveness Index (GCI). We find that entrepreneurial activity by nascent entrepreneurs and owner/managers of young businesses affects economic growth, but that this effect depends upon the level of per capita income. This suggests that entrepreneurship plays a different role in countries in different stages of economic development.
1,216 citations
TL;DR: In this paper, the authors investigate what variables are significantly correlated with an individual's decision to become an entrepreneur and link such a decision to demographic and economic characteristics such as alertness to opportunities, fear of failure, and confidence about one's own skills.
Abstract: Using a large sample of individuals in 28 countries, we investigate what variables are significantly correlated with an individual’s decision to become an entrepreneur. Following existing literature in economics, we link such a decision to demographic and economic characteristics. In addition, we argue that perceptual variables such as alertness to opportunities, fear of failure, and confidence about one’s own skills are also important. Our results suggest that perceptual variables are significantly correlated with new business creation across all countries in our sample and across gender. Although our data do not allow the identification of causal relationships, our findings suggest that, when making decisions, nascent entrepreneurs rely significantly on subjective and often biased perceptions rather than on objective expectations of success. Thus, perceptual variables should be included in economic models of entrepreneurial behavior.
1,207 citations
TL;DR: In this article, the authors analyze empirically the relation between the growth of new technology-based firms and the human capital of founders, with the aim of teasing out the "wealth" and "capability" effects of human capital.
1,130 citations
TL;DR: In this article, the authors examine 38 studies from the last decade that deal with international new ventures, global start-ups and born-global firms, and elucidate the most relevant benefits and contributions as well as potential drawbacks, limitations or major discrepancies found in the research activities conducted to date.
1,067 citations
TL;DR: In this article, the authors introduce a dynamic learning perspective of entrepreneurship that builds upon existing "dominant" theoretical approaches to understand entrepreneurial activity and propose three distinctive, interrelated elements of entrepreneurial learning: dynamic temporal phases, inter-related processes, and overarching characteristics.
Abstract: This conceptual article introduces a dynamic learning perspective of entrepreneurship that builds upon existing “dominant” theoretical approaches to understanding entrepreneurial activity. As many aspects of entrepreneurial learning remain poorly understood, this article maps out and extends current boundaries of thinking regarding how entrepreneurs learn. It presents key conclusions from emergent empirical and conceptual work on the subject and synthesizes a broad range of contributory adult, management, and individual learning literature to develop a robust and integrated thematic conceptualization of entrepreneurial learning. Three distinctive, interrelated elements of entrepreneurial learning are proposed—dynamic temporal phases, interrelated processes, and overarching characteristics. The article concludes by demonstrating how a “learning lens” can be applied to create further avenues for research in entrepreneurship from a learning perspective.
TL;DR: The term social entrepreneurship is used to refer to the rapidly growing number of organizations that have created models for efficiently catering to basic human needs that existing markets and institutions have failed to satisfy as discussed by the authors.
TL;DR: This article presented a three-stage process of conceptual development in response to the call for a unifying direction for research in the emergent field of international entrepreneurship, drawing on classic approaches to internationalisation, and importing insight from entrepreneurship as a separate and distinct field of study.
Abstract: This paper presents a three-stage process of conceptual development in response to the call for a unifying direction for research in the emergent field of international entrepreneurship. Drawing on classic approaches to internationalisation, and importing insight from entrepreneurship as a separate and distinct field of study, the paper develops three potential models of internationalisation as a time-based process of entrepreneurial behaviour. The models evolve from the simple through general to precise levels of conceptualisation. Research implications are discussed.
TL;DR: This article used agency theory to highlight key correlates of risk taking among 209 U.S. manufacturing family firms and found that family ownership and involvement promote entrepreneurship, whereas the long tenures of CEO founders have the opposite effect.
Abstract: Family firms are widely recognized as a major source of technological innovation and economic progress. Yet, over time, some family firms become conservative and unwilling to take the risks associated with entrepreneurial activities. Adopting a broad definition of entrepreneurial risk taking, this study uses agency theory to highlight key correlates of risk taking among 209 U.S. manufacturing family firms. The results show that family ownership and involvement promote entrepreneurship, whereas the long tenures of CEO founders have the opposite effect. These results urge managers to capitalize on the skills and talents of their family members in promoting entrepreneurship and selective venturing into new market arenas.
TL;DR: In this paper, the authors examine the relationship between a firm's entrepreneurial orientation and its overall performance and find that firms that follow a strategy of corporate entrepreneurship are able to pursue growth through new venture opportunities and strategic renewal.
Abstract: This article discusses research that examines the relationship between a firm's entrepreneurial orientation and their overall performance. The authors note that firms that follow a strategy of corporate entrepreneurship are able to pursue growth through new venture opportunities and strategic renewal. Firms that are able to effectively follow this strategy experience sustainable advantages and yield above-average returns. They outline and discuss five dimensions of corporate entrepreneurship including autonomy, innovativness, proactiveness, competitive aggressiveness and risk-taking. They examine what implications these strategies have for managers and identify areas of future research.
TL;DR: In an exploratory study, the ability of tolerance for risk, perceived feasibility, and perceived net desirability to predict intentions for self-employment was examined in a sample of 114 undergraduate business students at Florida Gulf Coast University.
Abstract: Purpose – Since the 1950s, organizational psychology research investigating work‐related motivation has progressed from static content models to dynamic process models. Entrepreneurship research has evolved along a similar trajectory, adapting organizational psychology findings to better understand the motivation to become an entrepreneur. This paper reviews motivation research from both fields, explores some of the commonalities among current theories, and presents a new model of entrepreneurial motivation.Design/methodology/approach – In an exploratory study, the ability of tolerance for risk, perceived feasibility, and perceived net desirability to predict intentions for self‐employment is examined in a sample of 114 undergraduate business students at Florida Gulf Coast University.Findings – Results indicated that tolerance for risk, perceived feasibility and net desirability significantly predicted self‐employment intentions, with an adjusted R2 of 0.528.Research limitations/implications – Because the...
TL;DR: In this paper, a combination of behavioral and resource constraints arguments are used to explain the slack-performance relationship in privately held firms and the implications of these findings for theories of resources and entrepreneurship are discussed.
Abstract: Empirical findings from publicly traded firms and behavioral arguments suggest a positive influence of resource slack on financial performance. While this area has remained unexplored in privately held firms, conceptual arguments indicate that resource constraints may enhance performance. Longitudinal data on 900 privately held firms confirm the differing influences of forms of slack on performance. Results indicate that a combination of behavioral and resource constraints arguments are necessary to explain the slack-performance relationship in privately held firms. The implications of these findings for theories of resources and entrepreneurship are discussed.
TL;DR: In this paper, a U-shaped relationship between a country's rate of entrepreneurial dynamics and its level of economic development was found, and evidence was again found for this relationship with economic development, in addition to significant effects of the business ownership rate (+), social security expenditure (-), aggregate taxes (+) and population growth (+).
Abstract: Based upon two strands of literature, this paper hypothesizes a U-shaped relationship between a country’s rate of entrepreneurial dynamics and its level of economic development. This would imply a different scope for entrepreneurship policy across subsequent stages of development. Regressing GEM’s 2002 data for nascent entrepreneurship in 36 countries on the level of economic development as measured either by per capita income or by an index for innovative capacity, we find support for a U-shaped relationship. Testing our results against several control variables, evidence is again found for this relationship with economic development, in addition to significant effects of the business ownership rate (+), social security expenditure (-), aggregate taxes (+) and population growth (+). The results suggest that a ‘natural rate’ of nascent entrepreneurship is to some extent governed by ‘laws’ related to the level of economic development. For the most advanced nations, improving incentive structures for business start-ups and promoting the commercial exploitation of scientific findings offer the most promising approach for public policy. Developing nations, however, may be better off pursuing the exploitation of scale economies, fostering foreign direct investment and promoting management education.
TL;DR: In this article, the authors test whether the knowledge spillover theory of entrepreneurship holds for regions by linking investments in knowledge by universities and regions to the amount of entrepreneurial activity associated with each university and find that the number of young and high-tech firms located around universities depends on regional factors and the output of universities.
TL;DR: In this paper, a two-part paper aims to address the question of whether or not entrepreneurship can be taught, which has led to an ongoing debate in the entrepreneurship academy about whether we can actually teach individuals to be entrepreneurs.
Abstract: Purpose – Despite a growing body of literature in the field, there is still considerable uncertainty as to whether entrepreneurs are born are made, which has led to an ongoing debate in the entrepreneurship academy about whether we can actually teach individuals to be entrepreneurs. With this in mind, this two‐part paper aims to address the question of whether or not entrepreneurship can be taught.Design/methodology/approach – Part I of the paper dealt with the importance of entrepreneurship in a modern and constantly changing environment; the various ways in which entrepreneurship programmes and courses can be categorised, and the objectives, content and delivery of programmes. The second part of the paper, which is presented in this issue, deals with the topic of determining and measuring programme effectiveness.Findings – Despite the growth in entrepreneurship education and training programmes, the paper reports that little uniformity can be found. Attention is drawn to the art and the science of entre...
TL;DR: In this paper, a theoretical analysis of gender using the example of accessing both formal and informal sources of business funding to illustrate how this concept impacts upon women in self-employment is presented.
Abstract: Availability of, and access to finance is a critical element to the start-up and consequent performance of any enterprise. Hence, any barriers or impediments to accessing appropriate levels or sources of funding will have an enduring and negative impact upon the performance of affected firms. Although findings have been somewhat inconsistent, there is support for the notion that women entrepreneurs entering self-employment are disadvantaged by their gender. This argument is evaluated through a theoretical analysis of gender using the example of accessing both formal and informal sources of business funding to illustrate how this concept impacts upon women in self-employment.
TL;DR: A systematic review of the literature on how small and medium-sized enterprises (SMEs) use and acquire knowledge is presented in this paper, which concludes that policies encouraging entrepreneurship and economic regeneration need to be more flexible and sensitive to the often complex contexts within which knowledge is used by SMEs.
Abstract: This paper provides a systematic review of the literature on how small and medium-sized enterprises (SMEs) use and acquire knowledge. The review was undertaken as part of the Economic and Social Research Council's Evolution of Business Knowledge Programme. The paper describes the systematic review protocol and provides a detailed explanation of the methods used. From the review, it is evident that SME knowledge research concentrates primarily on the acquisition and use of knowledge, treating it as an asset that is transferred by routines. The findings suggest that research is focused in three main areas. First, on the influence and abilities of the entrepreneur to extract, use and develop knowledge resources. Secondly, on firm-wide systems and the social capital that facilitates knowledge exploration and exploitation. Thirdly, on the provision of knowledge and learning experiences through government policy. From a practical perspective, the review concludes that policies encouraging entrepreneurship and economic regeneration need to be more flexible and sensitive to the often complex contexts within which knowledge is used by SMEs. From a research perspective, and given the flexible, opportunity-oriented and often novel nature of SMEs identified in these studies, there is a need to consider the relational and embedded qualities of knowledge by which these characteristics are framed; qualities that resist conceptualization as some form of separable, material asset.
TL;DR: In this article, a quantitative content analysis of the narrative descriptions of 50 rapid-growth firms and a comparison group of 50 slow-growth companies was conducted. The purpose of the study was to draw from the narratives a list of empirically grounded growth-related attributes that are associated with rapid growth firms.
TL;DR: This article investigated the effects of particular resource sets on two university commercialization activities: the number of start-up companies formed and the initial public offering (IPO) firms to which a university had previously licensed a technology and found that a set of university financial, human capital, and organizational resources were significant predictors of one or both outcomes.
TL;DR: In this paper, the authors integrate knowledge about corporate entrepreneurship and middle-level managers' behavior to link successful corporate entrepreneurship with entrepreneurial behavior. But, they do not consider the role of managers in the creation of successful companies.
Abstract: Middle–level managers’ entrepreneurial behavior is linked to successful corporate entrepreneurship. Herein, we integrate knowledge about corporate entrepreneurship and middle–level managers’ behavi...
TL;DR: In this paper, an empirical study aimed at assessing and comparing the attitudes of university students towards entrepreneurship and enterprise formation in Catalonia and Puerto Rico, using a sample of 837 and 435 students, respectively.
Abstract: There is general agreement that attitudes towards the entrepreneur, entrepreneurial activity, and its social function are determinant factors for university students to decide an entrepreneurial career. This empirical study aims at assessing and comparing the attitudes of university students towards entrepreneurship and enterprise formation in Catalonia and Puerto Rico, using a sample of 837 and 435 students, respectively. Results reveal a positive entrepreneur’s image. Both samples have a favorable perception of desirability of new venture creation, although the perception of feasibility is by far not so positive and only a small percentage has the firm intention to create a new company.
TL;DR: In this paper, the authors used grounded theory to build a framework to address two questions: (a) which UTTO's structures and licensing strategies are most conducive to new venture formation; and (b) how are the various UTTOs' structures and license strategies correlated with each other.
Book•
01 Mar 2005
TL;DR: Managing Innovation as discussed by the authors is an established best-selling text for MBA, MSc and advanced undergraduate courses on management of technology, innovation management and entrepreneurship and is also widely used by managers in both the service and manufacturing sectors.
Abstract: Managing Innovation is an established best-selling text for MBA, MSc and advanced undergraduate courses on management of technology, innovation management and entrepreneurship. It is also widely used by managers in both the service and manufacturing sectors. Now in its third edition, Managing Innovation continues to offer a complete framework for thinking about innovation across technological, market and organizational perspectives, while integrating the latest developments in the management of innovation field. Building on extensive user feedback, the revised edition features new globally-focused case illustrations, expanded discussion of contemporary issues in innovation and improved online lecturer support. "Managing Innovation masterfully synthesizes the extensive literature on this extremely complex, often fragmented topic. The book is enlivened by real-world examples from all over the globe and from a wide variety of industries; it serves as a comprehensive reference for academics as well as a practical guide for managers." Dorothy A. Leonard, William J. Abernathy Professor of Business Administration, Harvard Business School"This book has established itself as a leading textbook in its field. Among its most important strengths is the way innovation is analyzed from many perspectives. Issues and challenges are scrutinized. Resources, organization, and processes are discussed in great detail. The important context for understanding innovation is explored at macro as well as micro levels. In this new edition the authors have integrated important contemporary issues such as the power of networks for innovation and radical disruptive innovation. Since the pedagogical strengths and support in terms of cases and web support have been developed the book qualifies as a leading textbook even more clearly." Christer Karlsson, Professor of Innovation and Operations Management, Dean CBS Executive MBA, Copenhagen Business School, Denmark"In the knowledge society we live in today, the continuous creation of knowledge is the only way for an organization to survive. Managing Innovation concisely and precisely explains how an organization can keep innovating within and across the organizational boundary, and how such innovation affects the organization and society. With many examples, it is easy to read and understand. Excellent and a must-read for anyone who wants to learn about innovation." Professor Jiro Nonaka, JAIST (Japan Advanced Institute of Science and Technology), Japan