Contemporary Entrepreneurship Research Articles

Framework for developing entrepreneurial business models: Theory and practical application

A framework for developing entrepreneurial business models is crucial for guiding entrepreneurs from conceptualization to practical application in a dynamic market environment. This review outlines a comprehensive framework that integrates theoretical concepts with practical approaches to help entrepreneurs create robust and adaptable business models. The framework is grounded in a synthesis of contemporary entrepreneurship theories and practical insights drawn from case studies of successful ventures. It begins with a theoretical exploration of foundational business model components, including value proposition, customer segments, revenue streams, and cost structures. By leveraging established models such as the Business Model Canvas and the Lean Startup methodology, the framework provides a structured approach for entrepreneurs to design and validate their business models. A key component of the framework is its emphasis on iterative development and validation. Entrepreneurs are encouraged to employ lean principles, such as rapid prototyping and customer feedback loops, to refine their business models. This iterative process helps in adapting to market changes and customer needs, reducing risk, and improving the likelihood of success. The framework also incorporates strategic analysis tools to evaluate market opportunities, competitive landscape, and potential challenges. Practical application is emphasized through detailed guidelines and tools for each stage of business model development. This includes methodologies for conducting market research, identifying key resources and partnerships, and establishing operational processes. Additionally, the framework addresses the importance of financial planning and risk management, offering practical advice on funding strategies and contingency planning. The paper also highlights the significance of contextual factors, such as industry trends, regulatory environment, and technological advancements, in shaping business models. By incorporating these elements, the framework provides a holistic approach to entrepreneurial business model development. In conclusion, the proposed framework serves as a valuable guide for entrepreneurs seeking to develop and implement effective business models. It combines theoretical insights with practical tools and strategies, enabling entrepreneurs to navigate the complexities of the business landscape and achieve sustainable success. This approach not only enhances the strategic planning process but also fosters innovation and adaptability in an ever-evolving market environment.

Historical prevalence of infectious diseases and entrepreneurship: evidence from 125 countries

Purpose This study aims to investigate the effects of the historical prevalence of infectious diseases on contemporary entrepreneurship. Previous studies reveal numerous proximate causes of entrepreneurship, but little is known about the fundamental determinants of this widespread economic concern. Design/methodology/approach The central hypothesis is that historical pathogens exert persistent impacts on present-day entrepreneurship. The authors provide support for the underlying hypothesis using ordinary least squares and two-stage least squares with cross-sectional data from 125 countries consisting of the averages between 2006 and 2018. Findings Past diseases reduce entrepreneurship both directly and indirectly. The strongest indirect effects occur through GDP per capita, property rights, innovation, entrepreneurial attitudes, entrepreneurial abilities, entrepreneurial aspirations and skills. This result is robust to many sensitivity tests. Policymakers may take these findings into account and incorporate disease pathogens into the design of entrepreneurship. Originality/value The novelty of this paper lies in the adoption of a historical approach that sheds light on the deep historical roots of cross-country differences in entrepreneurship.

Evaluating the significance of franchising entrepreneurial learning in higher education: a longitudinal study from two European Universities

This study delves into franchising education at HEIs and its advantages for students. It investigates its impact on knowledge and perceptions, preparing students for entrepreneurial careers and enhancing their job market competitiveness. Franchising is pivotal in contemporary entrepreneurship, offering aspiring entrepreneurs mentorship and risk reduction while enabling established entrepreneurs to expand efficiently. Hence, students must acquire franchising knowledge integral to their entrepreneurial learning. Existing literature extensively covers franchising. However, a noticeable gap exists concerning franchising education and its effects on entrepreneurship students. The research underscores the scarcity of franchising entrepreneurial learning in higher. Additionally, the literature reveals the necessity of collaboration between academia and the business sector in designing and delivering this course, considering the essential knowledge and skills required by lecturers of franchising courses. The longitudinal study spanned seven years based on two rounds of research at the University of Luxembourg (Public) and Vern University (Private) involving 203 students who attended the franchising course and assessed changes in knowledge and attitudes toward franchising through pre- and post-course surveys. The first study round occurred at Vern University, and the second at the University of Luxembourg. This study's results underscore the Franchising course's significance in shaping students' understanding and views regarding franchising. Overall, the course effectively promotes entrepreneurial learning outcomes, evident from the positive shifts in students' knowledge and attitudes toward franchising upon its completion. The study underscores the importance of franchising education in HEIs, aiding students in making informed entrepreneurial decisions and gaining a competitive advantage in the job market. Further Research can explore different groups of students and reasons for varying attitudes towards franchising in private and public Higher Education Institutions (HEIs). Keywords: Franchising, Franchise curriculum, Entrepreneurial learning, Higher Education

Utilisation of a Delphi study to understand effective entrepreneurship education in schools

Research into how teachers and leaders successfully implement effective entrepreneurship education is vital to developing student’s entrepreneurial mindsets to navigate opportunities in a post-COVID environment. Identifying professional practice that supports the effective implementation of an engaging entrepreneurial curriculum in schools is critical to the success of programmes. Recent studies have rarely consulted stakeholders, school leaders, or entrepreneurs in determining the characteristics for entrepreneurship education. This study describes the investigation of the literature on the contemporary methodologies of entrepreneurial education research and proposes the use of Delphi techniques to harness the collective knowledge of experts to efficiently define current key indicators of effective entrepreneurship education in primary and secondary schools. We justify the rationale for a Delphi study because, in such unstable economic times across the globe, establishing a localised and contemporary entrepreneurship research framework will support the interrogation and identification of effective school programmes.

Counternarrating entrepreneurship

Schumpeter envisioned entrepreneurship research as a way to examine and understand how capitalism changes. This notwithstanding, contemporary entrepreneurship studies predominantly explore the emergence and growth of new business firms, thus adopting a view that assumes a positive macro-level role for entrepreneurship in society even as it neglects the destructivity which was key to Schumpeter’s theory. To bring capitalism back into entrepreneurship, we suggest a narrative approach to entrepreneurial history. Specifically, we introduce counternarratives to discuss new ways of thinking about the micro-macro linkage in entrepreneurship and to open up fresh understandings of creative destruction within, and beyond, capitalism. We conclude the paper with practical suggestions for new entrepreneurial histories that develop alternative narratives.

Digitization of the Economy Under the Influence of the COVID-19 Pandemic

This article examines the issues of digital transformation of the contemporary economy. The digital transformation of the contemporary economic system determines the general contours of development of all sectors of the economy. New digital technologies, platforms and infrastructures have significantly transformed economic life and contemporary entrepreneurship. The article examines the digital transformation of the contemporary economy at the micro and macroeconomic level. Significant positive impact of contemporary technological means on the activities of enterprises is noted. At the state level, digitalization provides an opportunity to increase the efficiency of public administration, ensure the convenience of public institutions, implement government functions online, users to cooperate and implement civic responsibilities in a convenient way. At the macroeconomic level, the economy has undergone significant digital transformations under the influence of the COVID-19 pandemic.

Norwegian entrepreneurs (1880s-1930s) and their “new America”: a historical perspective on transnational entrepreneurship and ecosystem development in the Russian Arctic

PurposeThis paper aims to present a historical case study of Norwegian transnational entrepreneurs (1880s–1930s) and the ecosystems that they founded in Russia’s Arctic periphery. Drawing from the contemporary transnational entrepreneurship and entrepreneurial ecosystem literature, and inspired by AnnaLee Saxenian’s concept of “brain circulation,” this study explores the journey and impact of these entrepreneurs in a time of evolving political turbulence.Design/methodology/approachThis study applies a mixed-methodology approach, drawing from nine qualitative interviews held in 2021 and secondary material, including historical books, a podcast, videos and archival data.FindingsThe Norwegian entrepreneurs were both “pulled” by and “pushed” to the Russian region, their “New America,” where they could apply their personal skills and exploit their rich social and financial capital to establish a local entrepreneurial ecosystem. However, radical political change altered the context, which led many of the entrepreneurs to re-migrate to Norway.Research limitations/implicationsThis paper demonstrates the role of the political context for contemporary entrepreneurship and management research, as transnational entrepreneurs and international expatriates remain vulnerable to political change.Practical implicationsPublic-policy actors and managers in companies need to support highly-skilled transnational entrepreneurs, including expatriates, in a setting with turbulence, crisis and even war, to foster the sustainable contribution of entrepreneurial migrants to regional economic development across different countries.Originality/valueThis paper presents an original, novel case study on the historical role of transnational entrepreneurs across different cultural settings, their impact on a foreign peripheral location, including social-network building and evolving political change in the historical context. The findings are relevant for contemporary management literature.

Gender and Transnational Dynamics in Immigrant Entrepreneurship

Abstract Immigrant enterprises, especially those in the service sector of the urban economy, are largely gendered and seemingly localized. However, the intersection of gender and transnationalism is often overlooked in the research literature. To fill this gap, we draw on the literature of mixed embeddedness and transnationalism to advance an analytical framework of simultaneous embeddedness to explain the gendered pattern of immigrant entrepreneurship. We do so by taking an in-depth look at a female-dominant industry – Chinese-owned nail salons in New York City. Using data collected from face-to-face interviews and on-site observations in New York City, as well as archival records and media reports about labor-market dynamics in both the United States and China, we find that the development of Chinese-owned nail salons is shaped by contextual factors in both home and host countries beyond socioeconomic characteristics of individual entrepreneurs. Home-country factors in China include labor-force demographics, access to economic opportunities, and the gap between education and career aspiration among young women. These home-country factors are intertwined with changes in US immigration policy, local labor-market reception, and gender discrimination, which function to exacerbate the problem of labor shortage for Chinese-owned nail salons in New York City. We discuss the significance of simultaneous embeddedness and gender in understanding contemporary immigrant entrepreneurship.

Contemporary Entrepreneurship: Change process - Leadership – Innovation

Change management is a key issue for the survival and realization of organizational objectives in today's business environment, which is changing in different ways. Change has become a necessary constant for companies that need to change in order to remain competitive in the market. The ability to manage this change is seen as a basic skill of successful enterprises in contemporary entrepreneurship. These changes are undoubtedly manifested both locally and internationally. Economic globalization as an integrator has caused these two levels to merge into one, causing the difference between them to fade. This integration has been very intense lately. Leadership as the process by which an individual influences a group to achieve a common goal. Process means systematic and continuous actions and ways by which the leader influences subordinates. It should be noted that leadership is not a linear process but an interactive process and requires adaptation and innovation. Entrepreneurship and innovation in developing countries but also in developed countries in the contemporary era is influencing in all aspects of business development. This research for Kosovo condition confirms the following results: that the change process is an integral and necessary part of day-to-day management in these enterprises, identifying leadership challenges in implementing the change process and adapting enterprises to the contemporary environment continues to be vital to performance profitability and competitiveness. Answering research questions requires testing the relationships between variables (type of change, process factors, and success of the change). Testing of these connections is enabled using quantitative methods. As a result, the use of questionnaires as a method for data collection in this paper enables: research and analysis of possible relationships between the variables taken in the study, and tends to 'open' issues that will be of interest to be explored in the future. These leadership activities, adapting the efforts to maximize the existing opportunities in the environment of strong competition and following the contemporary development trends in the enterprise have been researched during the processes of change in the enterprise are: creating a strong leadership team to lead the processes, develop a vision to assist and guide efforts to achieve strategic objectives, designing and communicating the strategy to achieve the planned results, providing training and career development for employees to understand, reduce resistance and motivate to achieve the mission and vision of the enterprise.

Entrepreneurship education in Indonesian higher education: mapping literature from the Country\u2019s perspective

Entrepreneurship education has become an important and fast-growing research area contributing to understanding and acknowledging global and national trends and developing future educational policies and actions. From the country’s perspective, the development of entrepreneurship education in Indonesia is relatively recent. This circumstance is reflected by the minimal amount of research in English language articles published in prominent journals, the uneven provision programs, and the lack of modern practices in teaching and learning entrepreneurship in higher education across the country. Due to those rationales, this study aims to serve as an initial proposition by mapping some current states concerning Indonesian entrepreneurship education programs’ provision, its common learning practices within the higher education context, and its relation to students’ entrepreneurial competencies, characteristics, and Indonesian entrepreneurs’ issues on entrepreneurship education. By using mapping literature methodology, this study has identified and analyzed 31 articles concerning Indonesian entrepreneurship in higher education, searched through electronic database and international and national universities publications for the last ten-year period (2010–2019). The results showed that major entrepreneurship education program provisions and implementation of contemporary entrepreneurship course contents and teaching methods in Indonesia are centralized in Java Island—Indonesia. Another notable finding is mentoring, the most recent and emerging entrepreneurial type in Indonesia to support more students’ learning engagement and independence, or education through entrepreneurship. The study’s findings could inform the Indonesian government, educators, researchers, and educational policymakers concerning the current circumstances of Indonesian entrepreneurship education and how to improve them in the future.

Entrepreneurship Education in Higher Education: A Review of the US Context

This chapter considers the contemporary experience of entrepreneurship education in the United States (US), within Higher Education. Over the last forty years entrepreneurship has grown explosively across the higher education landscape, from just a few universities with the occasional class in the late 1970s, to entire schools and colleges of entrepreneurship today (Morris, Kuratko and Cornwall, 2013a). The US has arguably one of the most developed approaches to entrepreneurship education in its university system worldwide and this has been achieved without extensive educational policy intervention by individual States, or by the Federal government (Kuratko, 2005). This chapter focuses on the development of entrepreneurship education over time in the US. It explores how the subject grew, how it changed, and how it became embedded across the higher education system. As well as exploring this history the chapter considers contemporary entrepreneurship education in the US. In this part of the chapter the focus is on components that seem unique to the US context. The chapter concludes by considering where entrepreneurship education is headed next, what developments might be expected, and how entrepreneurship education research can contribute to this development.

Entrepreneurial myths (or realities) and entrepreneurial intentions

The development of modern entrepreneurship research began some 50 years ago. In the meantime, various definitions of entrepreneurship led to different interpretations of its scope, and subsequently, the entrepreneurial myths emerged. This topic was studied quite intensively in the 1980s and 1990s, and numerous results succeeded in demystifying most of the entrepreneurial myths. Despite that, the entrepreneurial myths persist and regularly appear on the web portals, media, and bloggers’ articles. On the other side, contemporary entrepreneurship textbooks include entrepreneurial myths as a lesson which could eliminate some obstacles for the nascent entrepreneurs. This study revealed that the entrepreneurial myths are somewhat present among younger examinees, nonentrepreneurs in Croatia, who have a low or medium level of education. Still, not even these demographic groups view those myths as realities. Further analysis pointed out that there is a statistically significant, although negative and weak correlation between the perception of entrepreneurial myths as myths (not as realities) and a higher level of entrepreneurial intentions.

Carl Menger's Grundsätze as a Foundation for Contemporary Entrepreneurship Research

This paper takes the subjective value theory, conception of economic goods, and the hierarchy of needs from Carl Menger's Grundsätze der Volkswirtschaftslehre (1871) to elaborate a model of strategic entrepreneurship. Menger's account of subjective valuation by buyers of goods in market exchange fills a gap in most conceptual approaches to entrepreneurship, which are based on a highly impermeable boundary around the entrepreneurial firm. We examine how this account "closes" an economic model of entry for an entrepreneurial firm in an existing rivalry network by making the assessment of value explicit with respect to buyer needs relative to goods sold by incumbent firms. A formal representation of Menger's needs hierarchy in the face of qualitatively different market goods is the centerpiece of the strategic entrepreneurship model. This conceptual model is tied to methods of eliciting subjective valuations of product attributes and buyer needs fulfilment from the literatures of consumer behavior, marketing, and organizational psychology. This serves as a methodological basis for scholarship in entrepreneurship.

Do we understand each other? Toward a simulated empathy theory for entrepreneurship

Entrepreneurs often face the daunting task of predicting consumer demand before it exists—what consumers will want if and when the entrepreneur might make it available to them. Such alertness and judgment require an entrepreneur's vicarious imagination—the supposition of what a value experience would be like for another—such as empathy. Prevailing theories of empathy, however, are ill-suited for entrepreneurship theory as they are defined as and focused on an emotion-matching process. We propose that empathy be understood instead as a vicarious mental simulation of another's experience that, when accurate, produces similar emotions but also similar experiential knowledge. According to our ‘simulated empathy theory,’ empathy is a rational imagination process, intentional and knowledge-based. We connect this empathy process to contemporary entrepreneurship theory, namely opportunity recognition and evaluation processes. We also revise the concept of empathic accuracy accordingly, and derive therefrom some practical implications regarding how entrepreneurs can increase their empathic accuracy and, thereby, their chances of success.

Guiding the student entrepreneur – Considering the emergent adult within the pedagogy–andragogy continuum in entrepreneurship education

PurposeThe purpose of the paper is to build on current discussions about the need for and role of guidance in learning and teaching, as well as to theoretically develop its specifics to further advance our scholarly understanding of how to structure and enhance entrepreneurship education.Design/methodology/approachThe paper takes a synthesizing conceptual approach, built on developmental psychology, instructional science, expertise research as well as the pedagogy–andragogy discussion and the role of guidance in contemporary entrepreneurship education research. In addition, a new term, odigogy, is developed.FindingsOdigogy, from the Greek word odigós (to guide), addresses how to navigate student entrepreneurs in higher education. The term seeks to correspond both to the specifics of entrepreneurship as a subject and the characteristics of students in the classroom who are in a transitional phase between adolescence and adulthood.Practical implicationsThe paper contributes to current entrepreneurship education discussions by offering a more balanced terminology positioned between how to teach (pedagogy) and how adults learn (andragogy). The paper provides insights for teachers when developing teaching methods and learning activities in higher education.Originality/valueBy introducing the term odigogy the paper seeks to contribute an enhanced understanding of the entrepreneurial learning process in higher education, which does not match pedagogical assumptions on how to teach children or adolescents, nor andragogical assumptions on how adults learn, or how to engage students in self-directed learning as presented in heutagogy.

'From guanxi to WeChat': new social networking technologies and digital entrepreneurship in Beijing

This paper explores how digital entrepreneurs utilise social networking technologies to develop and maintain networks in an increasingly digital environment. Despite the growing relevance and use of social networking technologies in entrepreneurship, few studies investigate the impact and outcome of social networking technologies in entrepreneurial processes. This paper addresses this research gap and explores the silent revolution instigated by new technological developments on contemporary networking practices. This paper is based on a case study involving 20 Beijing based digital entrepreneurs and presents empirical data contributing to the intersection of entrepreneurship and networking in the digital age. The paper applies a theoretical framework combining entrepreneurship and network theory, and offers new theoretical directions suited to explore networking in the digital dimension. The paper offers advanced insights to contemporary entrepreneurship and networking in the digital era, a field in need of future attention and extensive research.

За значението на арт-културното предприемачество

Entrepreneurial activity performed by artists still no specific theoretical outlines. They use terms like “cultural entrepreneurship“ and “art entrepreneurship”, but mainly as the names of graduate programs, visions of art, cultural scientist researchers and entrepreneurial processes. It remains doubtful what is the most correct concept of entrepreneurship realized by the creators. One of the ways of dealing with debatable is the use of “and”, but this does not solve the issue. Based on a discussion of the different aspects of the concepts, the article suggests the use of the term “art-cultural entrepreneurship“ as a specific type of contemporary entrepreneurship.

As contribuições da economia da confiança para o empreendedorismo a partir das tecnologias digitais de comunicação

A partir de uma pesquisa sobre a chamada economia da confiança, este trabalho tem como objetivo identificar e analisar de que forma seus três eixos – dinâmica entre pares, confiança entre desconhecidos e abundância de recursos – podem orientar a experiência empreendedora contemporaneamente. Apoiando-se em revisão bibliográfica, discutiremos o empreendedorismo atualmente a partir de sua interface com as tecnologias digitais de comunicação.

Entrepreneurial Mindset for Success: An Interview-based Learning in Delhi NCR

With the emerging entrepreneurial ecosystem across the country, many people from all walks of life and experiences wish to experiment with entrepreneurial ventures. Entrepreneurship studies are not only related to individuals and start-ups but also to big enterprises. The changing orientation of people generates a need for us to study various factors instrumental in success of a venture. The present paper intends to confirm contemporary entrepreneurship concepts, scrutinize current beliefs and expand the knowledge base by investigating established entrepreneurship perceptions through first‐hand information of established small business owners. It seeks to understand the role of entrepreneurial mindset (EM) in decision making and factors affecting EM in entrepreneurial success. A qualitative based Content Analysis research method with interview-based study of heterogeneous successful entrepreneurs from Delhi &NCR was conducted to draw inferences and reach to results.

PROMOTING ENTREPRENEURIAL PRACTICE BY CRAMMING A PRODUCT DEVELOPMENT PROJECT OVER A WEEKEND

As the definition of the engineering profession continues to witness a disruptive transformation in the labour market, engineering schools are beginning to recognize the need to facilitate a new approach to education. Such a disruption has lead to the explosion of entrepreneurship education within the boarders of engineering schools in attempt to generate the talent and skills of the future engineer. 
 There is however a gap – engineering schools were never designed to deliver entrepreneurship education. Success in this endeavour relies on a new approach to teaching; one that is founded in a group-based, experiential learning environment. At the University of New Brunswick, entrepreneurship education is a core element offered to all our engineering students.
 The following article proposes the CRAM – a two day hackathon designed to introduce students to a cohesion of contemporary entrepreneurship practices to accelerate group formation and acquire entrepreneurship skill sets using an inductive teaching approach. The delivery of the CRAM is discussed in detail, along with feedback from the student participants.