Entrepreneurial Path Research Articles

Research opportunities in the study of B2B new ventures: Perspectives from the entrepreneurship literature

The goal of this article is to identify research opportunities for scholars interested in B2B new ventures. The author focuses on opportunities that arise from a consideration of three important topics in the entrepreneurship literature: business model development, venture legitimacy, and top management teams. It is argued that significant opportunities exist for research that expands our understanding of (1) entrepreneurial paths from initial means to a fully specified business model, (2) the design of a portfolio of legitimation strategies, and (3) the impact of top management team characteristics and processes on venture characteristics, venture performance, and top management team outcomes.

Does Collective Always Mean Cohesive? Collective Institutional Entrepreneurship and Radical Flanks

Despite an expanding literature on collective institutional entrepreneurship, we know little about the mechanics and internal dynamics between different and potentially divergent entrepreneurial paths, the responses from actors outside the collective, and the effects that divergent entrepreneurial paths have on the outcome of the institutional change project. In this paper, we set out to explore how diverse paths in collective institutional entrepreneurship can contribute to institutional change. Informed by literature on collective institutional entrepreneurship and radical flank effects and relying on qualitative processual data on a collective attempt to change the standards in Type-1 diabetes healthcare, we show how multiple and diverse entrepreneurial paths interweave in the pursuit of a common institutional change project. We contribute to literature on collective institutional entrepreneurship by detailing the mechanisms that yield synergetic and dynamic relationships between entrepreneurial actors (creating urgency, creating the network and creating the cohesion) and by detailing how different types of institutional work undertaken by the different groups contribute to institutional change over time. We also contribute to literature on radical flank effects by demonstrating how emotional cohesion functions as a social glue that connects discrepant entrepreneurial paths in a common institutional change project.

User entrepreneurship in the video game industry: the role of communities

PurposeThis paper investigates the user entrepreneurship process in the video game industry, and how this process is influenced by the interactions between user entrepreneurs and communities.Design/methodology/approachThe paper presents an exploratory multiple case study on 17 firms founded in the video game industry by Italian users.FindingsThe findings show that in most of the cases analysed, innovation by users precedes identification of the entrepreneurial opportunity. This research identifies three categories of communities that provide different forms of support to user entrepreneurs: communities of (1) gamers/users, (2) developers/innovators and (3) entrepreneurs. Given the different role played, the three categories of communities have a different relevance during the various phases of the innovation and entrepreneurial path: communities of gamers/users and of developers/innovators affect innovation development and opportunity identification, while communities of entrepreneurs help users to evolve from opportunity recognition to the start-up of a firm.Originality/valueThis study investigates the video game industry, a context in which user entrepreneurship is under-researched and that is characterized by the intangible nature of the products (while previous studies have mainly focused on physical goods). It contributes to extant literature by revealing that, at the beginning of the end-user entrepreneurial process, there may be not only unmet needs but also “excitement-driven” innovations. Moreover, by analysing the whole entrepreneurial path, the study shows how three categories of communities (gamers/users, developers/innovators and entrepreneurs) provide different forms of support to user entrepreneurs in the different phases of the entrepreneurial process.

The Evaluation of Curriculum 2013 Policy on Travelling Business Skill Program At Smkn 4 Mataram

Vocational High Schools (SMK) are designed to prepare students or graduates who are ready to enter the workforce and are able to develop professional attitudes in their fields. In addition, graduates are required to develop themselves in the path of entrepreneurship, so they can advance in entrepreneurship even in whatever conditions and situations. This policy was adopted after seeing the fact that most of the educated unemployed are secondary education graduates, which can be interpreted as a lack of secondary education graduates' skills to enter the workforce. One of the expertise programs for creating educated graduates at secondary schools is the tourism program. Seeing these conditions, it is necessary to evaluate the implementation of the 2013 curriculum policy on the travel business expertise program. This study uses a program evaluation method with a qualitative approach. The results of this study can be concluded that the evaluation of the program in the context component is in the category of "very good". Likewise, the results of evaluating the implementation of a productive curriculum in the travel business expertise program, the input components include curriculum programs, management of educators and education staff, management of financing and management of the education calendar in the "very good" category. The results of evaluating the curriculum implementation process of productive subjects in business travel expertise in the process components include the planning of the learning process, the implementation of the process, learning, assessment, and supervision of the learning process. The results of the evaluation of the implementation of the curriculum implementation of productive subjects expertise travel business expertise in the process component with the category of "very good". The results of the evaluation of the product component of the travel business expertise program at SMK Negeri 4 Matara with the "very good" category.

Overcoming the Liability of Foreignness: A Typology and Model of Immigrant Entrepreneurs

This study addresses the diversity of extant models and theoretical interpretations of the immigrant entrepreneurship phenomenon. Combining an extensive literature review with the use of Bourdieu's theory of social practice, we develop a general model of immigrant entrepreneurship that identifies four different entrepreneurial paths, each characterised by a specific combination of personal resources, network embeddedness, individual habitus, and targeted opportunities. Through the interpretative lens of this model, foreignness can represent either a liability or a competitive advantage for the immigrant, depending on the entrepreneurial context and strategy. The proposed model provides useful insights into the phenomenon of immigrant entrepreneurship for academics, entrepreneurs and policy makers, offering a comprehensive framework which does not invalidate the extant models, but rather integrates them into a larger perspective.

Entrepreneurship education as a factor of society’s modernization

Entrepreneurship education (EE) is often regarded as one of the most important elements of the policy of stimulating small business and self-employment, creating start-ups and innovative business projects. The implementation of EE in the system of professional training at a new stage in the development of society could significantly increase the potential of using universities in the process of economic growth. The article sheds light on the nature and features of EE, analyzes the prospects and difficulties of its integration with other areas of training. The study demonstrates great prospects for the implementation of EE into the program of higher education training. EE has to be concentrated around several important characteristics of entrepreneurship and entrepreneurs themselves. The implementation of EE at the curriculum and extra-curriculum activities at the institutions of higher education of Ukraine, the combination of theoretical, problem- and project-oriented learning with the immersion into practical activities concerned with business planning, creating and running, training of students in groups together with nascent and experienced entrepreneurs would be extremely useful and productive in terms of motivating more and more young people to take an entrepreneurial path and achieve prosperity and selfactualization. The practical realization of EE will contribute to the formation of more resilient and competitive local communities as well as a more inclusive, just, equal, and happy society.

Digital technologies and the financial performance of female SMES in Serbia: The mediating role of innovation

Digital technologies that create innovation have the capacity to leverage economic development. The integration of digital technologies in daily operations has become a key success factor in sustainable development, market positioning, and advancement. This is particulary challenging for female companies in developing countries, which face numerous biases on their entrepreneurial path, including in innovation. This specific group of entrepreneurs faces additional barriers in implementing digital technologies and digital transformation, which are considered part of their innovation capacity. However, some companies perform well according to financial parameters, regardless of the level of digitization and innovation potential. This research paper explores the correlation between financial performance and the innovative implementation of digital technologies. The main assumption in this research is that companies that do not use digital technologies to innovate can not expect to improve their financial performance. We focus on the impact of digital technology on the financial performance of female companies. We also consider the indirect impact of digital technology use on financial performance, with product innovation as the mediator variable. The sample consists of 46 female companies. The results of the analysis confirm the hypotheses that digital technology has no direct influence on financial performance, and that product innovation mediates the relationship between digital technology and financial performance.

Mejor en Bici: business model innovation and shared value

Study level/applicability This case is appropriate for entrepreneurship courses where the topics are generation of business model, business model innovation and shared value. It can be used at undergraduate and graduate levels. Case overview This case addresses the challenges that Mejor en Bici (in English: Best by Bike), a start-up that promotes mobility by bicycle, had to face from 2010 to 2015 at the level of its business model and generation of shared value. The case narrates the main achievements and obstacles in this path of entrepreneurship and how, through this process, a business model should be designed that allows strategic decisions to be taken to achieve sustained growth. In addition, this case examines how from early stages in entrepreneurship it is possible to generate shared value as a strategic component. Expected learning outcomes Identify and present the value proposition of Mejor en Bici to understand where a business model starts. Design and evaluate the business model of Mejor en Bici from an innovation perspective. Apply the concept of shared value in the generation of a business proposal for Mejor en Bici based on their business model. Supplementary materials Osterwalder, A., & Pigneur, Y. (2010). Business model generation: a handbook for visionaries, game changers and challengers. John Wiley & Sons. Pages: 14-44; 56-108; 244-262. Porter, M. E. and Kramer, M. R. (2011). The big idea: Creating shared value. Harvard Business Review, 89, 1-18. Amit, R. and Zott, C. (2012). Creating value through business model innovation. MIT Sloan Management Review, 53, 40-59. Social implications The social implication of this case lies in the motivation and guidance that potential entrepreneurs and students who analyze this case will receive. They can learn from a successful but complex experience how to start a business in a sustainable and responsible way. Subject code CSS 3: Entrepreneurship

Extending the potential of Baumol’s entrepreneurial allocation theory

PurposeThe underlying assumptions of Baumol’s theory of entrepreneurial allocation limits its potential to answer some key questions related to the entrepreneurship allocation. Hence, this paper aims to highlight the inherent limits of Baumol’s theory and suggest a new approach for understanding the entrepreneur-institution relationship and their functions.Design/methodology/approachThis is a conceptual paper with a narrow focus on the literature.FindingsThe paper argues that Baumol’s adherence to neoclassic economics assumptions about entrepreneur and institution, such as entrepreneurs as rational choice taker with predetermined goals or institutions as exogenous, limits the potential of his theoretical framework to explain productive entrepreneurship in weak institutional settings. As such, underlying on Austrian economics assumptions about entrepreneur and his/her agency, this paper proposes a reconceptualization of productive entrepreneurship as an outcome of the interaction between entrepreneur and context.Practical implicationsGoing beyond Baumol’s main proposition of one-sided influence of institutions on entrepreneurship allocation, this research highlights the influence of individual factors and entrepreneurial action on choosing entrepreneurial paths by entrepreneurs. So, future policies to stimulate productive entrepreneurship should consider these factors and go beyond Baumol’s mere focus on institutional improvement.Originality/valueGoing beyond one-sided influence of institutions on entrepreneurship allocation, this paper suggests an interaction centric approach which considers the role of actors and institutions as the co-creator of each other in the social process and argues that any effort for explaining the entrepreneurship should consider the co-creative nature of the actors and institutions as well as the endogenous nature of institutions. The proposed approach will help expanding entrepreneurship literature through finding answers to some key under-examined questions in the promising research stream of entrepreneurship allocation.

Errors of entrepreneur in Nigeria: the blue ocean strategy as panacea

Nigeria’s harsh economy has posed business planning challenges to many small and medium scale entrepreneurs. In a bid to thrive, some of these business entrepreneurs often commit errors along the path of entrepreneurship. While most errors are helpful to the business, others are harmful. The blue ocean strategy (BOS) is an up-to-the-minute approach of thoughts; a bold, recent path to winning the future. This study conceptualizes with empirical data the common errors of a number of the entrepreneur in Nigeria and highlights the BOS as a panacea. The paper identified two objectives; to determine the effect of planning error on entrepreneurs’ success in Nigeria and the effect of Blue Ocean Strategy on the Success of Entrepreneurs in Nigeria. Statistically, two research questions and hypotheses were formulated. The descriptive statistics of simple frequency count and simple percentage were used for description and analysis.

Bridging the gap: A model for interdisciplinary collaboration between entrepreneurship and software engineering students

By framing entrepreneurship courses in the context of interdisciplinary team projects, students build important work-related skills whether they pursue an entrepreneurial path or employment after graduation. However, the traditional classroom environment is not conducive to realistic interdepartmental interactions found in most corporations or startups. The authors describe a model for interdisciplinary collaboration between students in entrepreneurship and computer science engineering programs to cultivate the development of real software products. The authors outline the partnership and illustrate how sister courses covering lean startup and agile software development methodologies complement each other to foster realistic projects.

An insight into entrepreneurship education practices in Technical and Vocational Education and Training institutions

Technical and Vocational Education and Training (TVET) and entrepreneurship education have always been used as a vehicle towards economic and social transformation within many nations. With this in mind, the research investigates the entrepreneurship education practices in TVET institutions in Trinidad and Tobago. A quantitative study utilising a face-to-face survey was conducted with 446 TVET students from four TVET institutions from all geographical locations in Trinidad and Tobago. Correlation analysis and logistic regression were performed to assess the views and significant relationships involving students’ interest and entrepreneurship education practices. The results of this study have important implications for TVET institutions. Students’ interest in pursuing entrepreneurship was very high, and it tells a very good narrative that persons want to be an entrepreneur. Survey data revealed that 98% of respondents were interested in pursuing entrepreneurship as a career path. However, with the absence of an adequate platform or systems at the TVET institutions, students are not engaged in entrepreneurial paths in any significant way.

Entrepreneurial path dependency in labour market regions: a longitudinal panel study of related and unrelated variety

ABSTRACTWe study entrepreneurial path dependency by tracing the development of related and unrelated variety in labour market regions in Norway between 1992 and 2012. Path dependency means that the current socioeconomic process is a function of previous states, related variety means that the regional industry structure is complementary with an overlapping knowledgebase, while unrelated variety means that the structure is fragmented with limited complementarity. With regard to related variety, we find a favourable long-term entrepreneurial path-dependent effect, as the regional industry structure reproduces a pattern of overlapping cognitive models that are transferred into the very fabric of new firms in the regional economy. With regard to unrelated variety, we find no entrepreneurial path-dependent effects at all. We finally find that the regional industry size has an entrepreneurial path-dependent effect on related and unrelated variety, but it is short-term and abates over time. We address the findings’ implications for entrepreneurship.

Gender Differences in the Evolution of Haute Cuisine Chef´s Career

ABSTRACT This article reviews gender differences in the career paths of successful chefs, including barriers, success factors, and the entrepreneurial path. The research was developed in 2016–17, using an international survey carried out in Spain, France, and the United States among culinary students, cooks, and chefs who responded to a structured questionnaire based on pre-selected topics. The results show that a chef’s career requires various sets of skills. They should be leaders, mentors, and entrepreneurs. They work in a hard and competitive environment where building their brand and achieving public recognition is a must. Their professional satisfaction depends on learning, evolving, and launching their restaurant. There were two main differences between the sample of women chefs and the general sample of chefs: they required more mentoring, and they achieved greater job satisfaction when they were self-employed.

European universities seeking entrepreneurial paths: the moderating effect of contextual variables on the entrepreneurial orientation-performance relationship

This study explores the relationship between the entrepreneurial orientation of university departments and their entrepreneurial performance, in terms of academic entrepreneurship (spin-offs) and knowledge transfer (patents) outcomes. Moreover, we investigate how internal and external contextual variables interact in this relation. Using survey data from 294 heads of university departments in four different European countries (Italy, Spain, UK and Portugal), we found that entrepreneurial orientation is positively related to the number of spin-offs generated and that this relation is positively moderated by the departments' age and size, as well as the country GDP per capita and R&D expenditure. Surprisingly, entrepreneurial orientation is negatively associated with the number of patents. We further explore the moderating role of contextual variables, discussing our results.

Entrepreneurship and eudaimonic well-being: Five venues for new science

Researchers in entrepreneurial studies are increasingly interested in the psychological well-being of entrepreneurs. Approaches to well-being tend to be partitioned into hedonic and eudaimonic formulations. Most entrepreneurial studies have focused on hedonic indicators (life satisfaction, happiness, positive affect). The central objective of this essay is to examine the relevance of eudaimonic well-being for understanding entrepreneurial experience. The theoretical background and key dimensions of eudaimonic well-being are described and their relevance for entrepreneurial studies is considered. Illustrative findings from prior well-being studies are examined, also with emphasis on possible extensions to entrepreneurship. Five key venues for the entrepreneurial field are then considered: (1) entrepreneurship and autonomy, viewed both as a motive (self-determination theory) and as an aspect of well-being (eudaimonic well-being theory); (2) varieties of entrepreneurship (opportunity versus necessity) and eudaimonic well-being; (3) eudaimonia in the entrepreneurial journey (beginning, middle, end); (4) entrepreneurship, well-being and health; and (5) entrepreneurs and the eudaimonia of others – contrasting virtuous and vicious types. In each topic, extant findings from entrepreneurial studies are considered and new research directions proposed. The overall aim is to be generative regarding the interplay between entrepreneurial experience and eudaimonic well-being. Executive summaryAlthough there is growing research on the psychological well-being of entrepreneurs, most studies to date have focused on hedonic conceptions of well-being. However, key aspects of eudaimonic well-being (e.g., realization of personal potential, purposeful life engagement, effective management of complex environments) have received little attention even though they may be particularly relevant to entrepreneurial pursuits. To address this issue, the theoretical foundation of a widely-used eudaimonic model is briefly described along with its empirical operationalization. Illustrative findings generated with this model are noted, and their relevance for entrepreneurial studies is considered. Shifting to extant entrepreneurial research, five topical venues are then presented, beginning with a call to better distinguish the meaning and measurement of autonomy (as a core motive from self-determination theory, and as an aspect of well-being from eudaimonic theory) in studies of entrepreneurial experience. The eudaimonic well-being of different types of entrepreneurs is then considered with a primary focus on the distinction between necessity versus opportunity entrepreneurs. These particular types invoke emphasis on sociodemographic factors (e.g., educational and occupational status, income, wealth) that are known from previous research to matter in accounting for differences in reported levels of well-being. The third venue considers how eudaimonic well-being may matter over the course of entrepreneurial experience, underscoring that certain aspects of well-being may account for who chooses an entrepreneurial path while other aspects may serve as protective resources (buffers) vis-à-vis the stresses attendant to managing a self-initiated business. Still other aspects of well-being may be nurtured by the longer-term journey of business venturing. The health of entrepreneurs is then considered as linked to experiences of well-being. New directions for objective health assessments (functional health, biomarkers, neuroscience, gene expression) are considered; all have previously been linked in population-based studies to eudaimonic well-being. Finally, the impact of entrepreneurs on the lives of others (co-workers, employees, families, communities, society) is considered via the contrast between benevolent (virtuous) versus malevolent (vicious) entrepreneurs. Promising empirical questions that follow from these observations are detailed.From a lay perspective, the central importance of bringing eudaimonia to the field of entrepreneurial studies is that the essential core of this type of well-being involves realization of personal talents and potential. Such active pursuit of such personal excellence, in the spirit of Aristotle, is fundamental to entrepreneurship.

Entrepreneurship Path – Setting Up of a New Quantitative Finance Firm: Business Plan, Market Driver, Capital Raising and Ethics

The process of setting up a new and successful hedge fund is an extremely complicated and multifaceted procedure, as many different and closely-related parameters have to be taken into account. Establishing a successful business plan, identifying market demand and opportunities, raising capital, and embedding a predetermined code of ethics into the core values of the firm are only but a few of the main challenges need to be addressed. In this project, we will discuss about the establishment of a fully automated artificially intelligent hedge fund, called Flow Capital Management or simply FCM. We will provide a detailed description of an innovative business plan and examine the market drivers that separate it from the rest of the industry. In doing so, we will identify and analyze modern trading models and strategies in the context of existing laws and regulatory requirements. According to Don Steinbrugge from Agecroft partners, despite the many negative articles about the hedge fund industry, hedge funds have reached an all-time high 5 quarters in a row, and the industry assets are forecasted to grow by 5.5% over the next 12 months. The strong competition led many managers to make investments in new technologies, such as artificial intelligence, advanced quantitative analytics, as well as alternative data sources. In this thesis, we will discuss how these new technologies can help FCM generate positive alpha returns, and increase the efficiency and accuracy of information analysis and trading execution. Special emphasis will be given in analyzing the proprietary trading models and strategies of our hedge fund. Finally, we will discuss about the fund structure and marketing plan of FCM and propose ways to ‘lure’ seed investments in order to raise between $100 and $150 millions of investment capital.

Fly Away From the Nest? A Configurational Analysis of Family Embeddedness and Individual Attributes in the Entrepreneurial Entry Decision by Next-Generation Members

This study aims to determine how family embeddedness conditions combine with the goals and attributes of individuals with a family business background to engender to two patterns of entrepreneurship: succession in the family business and foundation of a new venture. Our empirical study is conducted using 169 cases of entrepreneurs operating in Italy. Inductively building on the configurations derived from the analysis, we suggest a series of theoretical propositions focusing on family embeddedness, individual attributes, and entrepreneurial paths of next-generation family business members.

EMPRESA JÚNIOR: CONTRIBUIÇÕES PARA A FORMAÇÃO DO ADMINISTRADOR-EMPREENDEDOR

The Junior Company called Integracao Junior (IJ) is located at the Universidade Federal da Fronteira Sul (UFFS), Cerro Largo-RS campus. This enterprise proposes to contribute to the training of administrators-entrepreneurs and is supported by the Extension Program “Training and Support to the Management of the Junior Company”. In this context, this study seeks to know how the practices developed in the Integracao Junior contribute to the learning and the development of the administrators-entrepreneurs’ abilities. Aiming to elucidate this questioning, the objective defined for this study was to analyze the practices developed in the Junior Company, considering the possible contributions to the learning and the development of the administrators-entrepreneurs’ skills. In order to answer, satisfactorily, the research problem and to achieve the objective proposed in this research, a qualitative approach was chosen to develop a case study, whose focus is the Junior Integration and its current and former directors, students of the Administration course at UFFS. The results show that the activities developed by IJ contribute to the attainment and/or consolidation of technical and managerial skills, as well as the students’ – future administrators – personal abilities and motivate students to follow the path of entrepreneurship. Through the Junior Company, these activities are transformed into fundamental pedagogical practices for the training of students in the Administration course, because by providing opportunities to apply the theoretical knowledge obtained in the classroom, the practical education of managers-entrepreneurs is made possible at UFFS.

Positive mindset and entrepreneurial outcomes: the magical contributions of psychological resources and autonomy

This paper applies self-determination theory (SDT) and psychological capital literature to examine the impact of psychological capital and autonomy on a number of entrepreneurial outcomes including entrepreneurs’ income, satisfaction, meaning in life, and commitment to the entrepreneurial career path. The results from two studies reported in this paper support the proposition that a positive mindset (consisting of psychological resources) and a feeling of autonomy are essential for entrepreneurial success. We also found that entrepreneurs’ satisfaction mediates the effects of psychological capital, autonomy, as well as their interaction effects on commitment. In addition, the effects of psychological capital and autonomy on satisfaction were also moderated by level of income. The results have implications for entrepreneurship training and support interventions. The implications for research are also discussed.