Entrepreneurial Value Creation Research Articles

Sustainable integrated solid waste management for a university campus − A case study of the Federal University of Technology Akure (FUTA), Nigeria

This study provides valuable insights into the waste composition, generation rates, and opportunities for improving the current solid management practices of a university campus in Sub-Saharan Africa. Representative points were selected within the campus to collect solid waste (SW). The SW were sampled following ASTM D5231-92. The quadrant method prescribed by ASTM D 6323 was used to reduce about 150 kg of collected waste to 50 kg. The SW samples were collected in triplicates and sorted manually to determine their composition. QGIS, a geographic information system was utilized to optimize waste collection efficiency, optimal collection points, and the number of waste bins. The average daily solid waste generation at FUTA was 952.3 kg, with polythene and paper waste constituting the largest proportions at 26 % and 24 %, respectively. The waste generation rate per capita was estimated at 0.046 kg per day. Remarkably, 81 % of the waste generated at FUTA has the potential for recycling. This offers a viable potential for promoting sustainable integrated solid waste management (SISWM). The study proposes optimising waste collection points from the initial 42 to 97, considering the proximity to buildings and transportation routes. The study did not consider fluctuations in waste generation rates and composition throughout the seasons, yet the data gathered is considered adequate for this initial survey. Lack of collaboration, adequate policies, funds, infrastructure, and political will are among the impediments to SISWM in FUTA. The introduction of colour-coded waste separation bins, and assigning different colours to specific waste types, can promote proper waste disposal and facilitate recycling. Also, engaging the university community through workshops and seminars can foster such behavioural change. Collaboration with local entrepreneurs and recycling centres is another essential aspect of this paradigm shift. Such partnerships can explore innovative solutions for upcycling polythene waste and create waste-to-wealth pathways. Initial challenges of an insufficient policy framework for university- small scale enterprises (SME) engagement and the lack of business growth models could be addressed by promoting relevant skill development and motivational tasking of the existing entrepreneurship faculty. By implementing the proposed strategies and embracing circular economy (CE) principles, FUTA can reduce its environmental impact, promote recycling, and foster a culture of sustainability and entrepreneurial value creation on campus and beyond.

Entrepreneurial Value Creation by Rural Enterprises: A Process Model

The Indian Economy is greatly benefitted by rural enterprises which provide essential goods and services to rural and urban populations of India. In addition, they contribute to direct and indirect employment. Rural enterprises have been increasing in the country for the last two decades, in the fields of agriculture, agriculture and allied products, dairy, poultry, khadi and food. The present article discusses how rural entrepreneurs create value at each stage of the enterprise, taking evidence from rural India. Further, the article develops an entrepreneurial value creation model which may help young entrepreneurship aspirants, investors and policymakers to contribute to the rural economy through rural enterprises.

Demystifying the essentials of entrepreneurial orientation and competence for small retailers: evidence from India

PurposeEnvironmental dynamics affect all sectors, and retailing is no exception. Scholarships reveal that, in such turbulent times, entrepreneurial characteristics are essential for business. In academic research, entrepreneurial characteristics like entrepreneurial orientation (EO) and entrepreneurial competence (EC) are seldom evaluated for retailers. This study aims to decode the impact of small retailers’ EO and EC on firm business performance (BP). It also traces the mediation effect of EC in the relationship between EO and BP.Design/methodology/approachThe study executed among 740 small retailers is a pioneering work to trace EO’s efficacy via EC on the retailer’s BP. The present research is a primal work in the Indian context. This work redesigns the EC scale to suit the retail context and evaluate its mediation role in the EO and BP relationship.FindingsExamining the mediation model through structural equation modelling (SEM) adds empirical evidence to entrepreneurial value creation (EVC) theory and throws light on the indispensable qualities required for small business retailers. The outcomes of the SEM model portray that there is an association between the EO, EC and BP.Research limitations/implicationsThis study, though carried out methodically, it is constrained by the ensuing intricacies. The investigation was limited to the small- and medium-retailers engaged in retailing with a floor space from 500 to 5,000 square feet. All three constructs used in the study are measured using the self-reported perceptual scale, which infuses the subjectivity in the data. Exploring the EO and EC of widely dispersed retailers, examining the entrepreneurial character of large-format independent retailers and evaluating financial performance measures through retailers will add value to the study in future.Originality/valueThe study verified the central role of EC in the intangible resource-reward relationship. Among the five pillars of EVC theory, the role of intention and external finance are not considered in this work. The present work explored the EO and EC of existing retailers, and hence intention is excluded. The study concentrates on small retailers, and the role of external financing is not explored. Mishra and Zachary (2014b) opined that the EVC process should be studied in different context and listed out several prepositions. Considering the role of intention and external financing and studying several prepositions spelt out in the theory in varying contexts will throw more lights on the EVC process.

Understanding the role of institutions and economic context on entrepreneurial value creation choice

Research background: The observable discrepancies in entrepreneurship activity across countries have motivated both researchers and policymakers to comprehend the sources of these variations. Certain scholars have suggested that the answer to this empirical puzzle lies in the macrolevel processes that influence entrepreneurial endeavours. Purpose of the article: As the understanding of macrolevel processes that shape entrepreneurial behaviour is limited, this research aims to answer how institutions and the economic context influence entrepreneurial value creation choices (i.e., for-profit, non-profit, and mixed). Methods: Using a cross-country sample of 7,891 entrepreneurs in 58 countries, we employ a multilevel ordered probit to evaluate a novel conceptual framework. Our analysis models the direct impact of the regulative framework, the normative pillar, and the cultural pillar, alongside the moderating influence of income inequality and economic uncertainty on value creation choices. Findings & value added: Our findings show that the regulative framework has a positive marginal effect on for-profit and mixed-value creation, but a negative effect on non-profit value creation. Meanwhile, the normative pillar has a negative marginal effect on for-profit and mixed-value creation, but a positive effect on non-profit value creation. The cultural pillar has a negative marginal effect on for-profit and mixed-value creation, but a positive effect on non-profit value creation. Furthermore, income inequality moderates positive the relationship between normative pillar and for-profit and mixed-value creation, while economic uncertainty moderates negative the relationship between normative pillar and for-profit and mixed-value creation. Our research contributes to the literature by providing a nuanced understanding of how institutional pillars can act as drivers or barriers for different entrepreneurial forms, evidence of how uncertainty interacts with institutional forces to shape value creation decisions, and insights into the distinctive attributes of different entrepreneurial forms. Our findings have implications for public policy development.

NeuE: Automated Neural Network Ensembles for Edge Intelligence

Artificial Intelligence (AI) applications have been established in the mobile industry and are decisively determining the progress in entrepreneurial value creation. This paper explores the potential of <italic xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink">Edge Computing</i> to enhance the performance of AI applications. In particular, a DNN ensemble formation (DEF) problem is studied which judiciously recruits members for DNN ensembles considering the device heterogeneity, computing resource limitation, and service deadline of edge computing systems, in an attempt to optimize the performance of edge AI services. We design a novel algorithm called Neural Ensemble (NeuE) to solve the DEF problem. NeuE involves an online learning process that learns the in-practice performance of DNN ensembles and adaptively forms DNN ensembles according to the features of admitted tasks. It leverages the framework of contextual multi-armed bandit and follows the constraints of computing resource limitation and service deadline. We also show theoretically that NeuE provides asymptotic optimality. However, NeuE suffers from poor scalability due to exponentially-growing ensemble decision space. We then propose a variant of NeuE, called NeuE-S, to expedite NeuE. NeuE-S identifies representative ensemble decisions using similarities of ensemble decisions and carries out learning with a reduced decision space. We show via theoretical analysis that NeuE-S drastically reduces the computation complexity with negligible performance loss. We implement our method on an edge computing testbed. The results show that our method dramatically improves the performance of edge AI services.

Factor Analysis of Entrepreneurship for Entrepreneurial Value Creation

Factor Analysis of Entrepreneurship for Entrepreneurial Value Creation

The potential of futures literacy for impact-oriented business schools

Current marketplace narratives increasingly demand a move from shareholder towards stakeholder primacy and responsible capitalism yielding social value creation. In parallel, the demand for entrepreneurial value creation at higher education institutions (including, but not limited to business schools) continues to grow. The intersection of these two demands, however, engenders critical tensions. While social value creation emphasizes stakeholder returns and a long-term perspective, entrepreneurial value creation revolves around investment returns and short-term agility. As a result, business schools have been grappling to find ways to incorporate a broader, holistic view on value creation into their activities. We bring together future studies and management scholars and scholarship to explore futures literacy as a potentially instrumental capability for business schools. Our investigation suggests that an interdisciplinary approach is particularly promising since both management and futures studies investigate how to engage with uncertainty and chart more desirable futures. We illustrate the instrumental role of futures literacy and foresight with an educational program built at the intersection of entrepreneurial and social value creation and with anticipatory practices at its core. We suggest that anticipatory practices are currently underutilized in business schools’ curricula, outreach activities, and strategy making, and may be necessary to shape productive and constructive business schools of the future.

Strategic Entrepreneurship Mindset, Strategic Entrepreneurship Leadership, and Entrepreneurial Value Creation of SMEs in East Java, Indonesia: A Strategic Entrepreneurship Perspective

This study investigates theories from the strategic entrepreneurship literature related to strategic entrepreneurship mindset, strategic entrepreneurship leadership, and entrepreneurial value creation. A sample of 85 SMEs was taken from the SME sector in East Java, Indonesia, using a non-probability sampling method with a purposive sampling technique. The data collection process was a survey with questionnaires distributed directly to the SME owners. The data analysis was carried out using a structural equation measurement model (PLS-SEM) and included outer model analysis, inner model analysis, mediation testing, and hypothesis testing. This study contributes to the strategic entrepreneurship leadership variable, which is a mediating variable. The study confirms this theory for SMEs to provide broader scientific ideas related to strategic entrepreneurship theory. The small and medium-sized enterprises (SMEs) that were looked at can create entrepreneurial value through benefits and added value for individuals, organizations, and the social environment. This can contribute to progress and sustainability, which will help the economy in Indonesia and give decision-makers more information.

Exploring the Relationship Between Entrepreneurship and Public Policy

This symposium explores avenues for research in the area of entrepreneurship and public policy. Research in other disciplines, primarily economics, have previously addressed questions in this space assuming a static or unidirectional relationship, either the impact of public policy (regulations) on startups or corporate rent-seeking, but the entrepreneurship perspective suggests a bidirectional, dynamic, institutionally embedded relationship between entrepreneurial value creation and the environment in which it occurs, in particular public policy. This perspective remains understudied. In this symposium, leading scholars in this new and exciting area of study in entrepreneurship will present new research, provide guidance and recommendations, and insights into opportunities in both theory development and empirical studies.

Knowledge management capability, entrepreneurial creativity, entrepreneurial intensity and firm performance: the mediating role of ambidexterity

PurposeLiterature survey shows that it is not clear how knowledge management capability (KMC) and ambidexterity capability affect entrepreneurial creativity (EC) and entrepreneurial intensity (EI) promotion. While empirical studies have emphasized the importance of these factors in improving business performance, the cumulative effect and self-reinforcing loops of these factors in improving firm performance have not been identified. In this regard, the study seeks to investigate how to increase the entrepreneurial capabilities of KMC, EI, EC and ambidexterity of food firms to improve their performance.Design/methodology/approachThe method of the present study is applied in terms of purpose and is quantitative in terms of data collection. In order to collect the data, a questionnaire was designed that contained the variables of the conceptual model of the research. This questionnaire was distributed among industrial and academic experts in the Iranian food industry. The method of data collection is an online cross-sectional survey, and the method of data analysis is structural equation modeling using Smart PLS software to analyze the conceptual model.FindingsThe present study is cross-sectional survey research that examines the impact of KMC, EC and EI on firm performance by considering the mediating role of organizational ambidexterity. The research study shows a positive impact of entrepreneurial capabilities as KMC, EI, EC and ambidexterity on performance. Accordingly, if a firm builds KMC and fosters EC, it can achieve ambidextrous innovation and thus enhance its EI and performance in the food industry.Research limitations/implicationsThis study highlights the knowledge-based view (KBV) in explaining the role of KMC on innovative capabilities and its influence on performance. Research findings shed light on the importance of KMC as a prerequisite for innovation strategy. The study has also established the mediating role of ambidexterity in entrepreneurial value creation. According to the results, small and medium-sized enterprises (SMEs)' performance is positively influenced by entrepreneurial capabilities as KMC, EI, EC and ambidexterity.Originality/valueThis paper gives insights into how SMEs can improve their performance to gain a competitive advantage by developing knowledge and creative ideas in line with entrepreneurial goals. In this regard, the food industry can adopt new strategies to reduce the impact of these challenges to achieve superior performance and competitive advantage.

Aimage's entrepreneurial value creation and crowdfunding: Entrepreneurship in times of crisis

The increasing amount of investment through crowdfunding platforms despite the recent global economic downturn brought about by the COVID-19 pandemic has nurtured the interest in how this form of investment can generate non-monetary value for a company. Through the lens of the entrepreneurial value creation (EVC) theory, the present case study demonstrates the development of two key stages of a new venture: (1) formulation and (2) monetization. The study employs a case study approach based on a high-tech company in Italy, namely Aimage. The case demonstrates how Aimage improves entrepreneurial competences by the acquisition of dynamic capabilities through means of a crowdfunding campaign. It shows how to gain not just monetary but also non-monetary benefits, mainly in the form of entrepreneurial knowledge. Moreover, the case of Aimage confirms that crowdfunding brings added value to an entrepreneurial venture in its monetization stage—even when capital is not needed for survival but for overcoming time of crisis—by enhancing its dynamic capabilities and helping to transform entrepreneurial competence into entrepreneurial reward.

Creating Values: the Entrepreneurial-Science Education Nexus

Values and how values are created in science education are an under-researched field, which is problematic given the importance of epistemic values to the nature of science. From a sociological perspective, values are experienced as emotionally infused ideas with the power to influence choices and actions in everyday situations such as learning through science inquiry. The present study explores the creation of value and values by building on links with entrepreneurial education that are previously explored, but not fully developed, in science education research. Using an entrepreneurial value creation pedagogy (VCP) model as a conceptual framing, this study is situated in a science inquiry project as part of a preservice teachers’ course. The study focuses on the question: How are values in science education created by learning through doing an entrepreneurially infused inquiry project? The study illustrates how preservice science teachers create values for self to produce a sense of purpose, how they create value for agency to support action taking in a science investigation, and how they create value for others. Findings illustrate a synthesis of entrepreneurial value creation practices with science inquiry and possibilities for improving understandings about how social, cultural, and epistemic values may be created in science education. Future studies should explore the interdependence between social, cultural, and epistemic values experienced by learners in naturalistic science education contexts. This could involve analysis of epistemic emotions as a constituent of epistemic values.

Entrepreneurial value creation: conceptualizing an exchange-based view of entrepreneurship

PurposeThis paper proposes an Exchange-Based View of the value creation process. The Borrowing from marketing literature, the EBV advances that entrepreneurs and stakeholders are tied by exchange relationships, through which they co-create value by reciprocally making and realizing promises of value.Design/methodology/approachPropositions are developed and offered to advance the role of exchange in the entrepreneurial value creation process.FindingsThe authors conceptualize the enterprise as a system of exchange relationships between entrepreneurs and their stakeholders, thus proposing an exchange-based view of entrepreneurship.Originality/valueSuch an account of the role of entrepreneurs and of their relationship with the stakeholders has meaningful implications for our understanding of the entrepreneurial tasks of opportunity recognition and exploitation.

Expanding the Entrepreneurial Value Creation Model of Mishra &amp; Zachary (2014)

There have been many theories applied to explain entrepreneurship and its factors. A majority have not explained an entrepreneurial process entirely. This paper builds on existing theoretical and empirical studies to detail and expand the Entrepreneurial Value Creation Model to provide a complete theoretical model of the entrepreneurship process for empirical studies in the future. Three main contributions of the research include: (1) a detailed entrepreneurial value creation model; (2) a review of 8 types of research related to Entrepreneurial Value Creation theory; and (3) seven factors influencing entrepreneurial intention and five factors influencing opportunity recognition added to the model.

Peran Dimensi-Dimensi Entrepreneurial Marketing dalam Mendorong Kesuksesan Bisnis UMKM di Industri Ekonomi Kreatif

This study aims to analyze the influence of entrepreneurial marketing dimensions, including proactiveness, opportunity-focused, risk-taking orientation, innovation-oriented, customer intensity, resource leveraging, and value creation of Small and Medium Enterprises (SMEs) business success in the creative economy industry. The study also examined the moderating role of company age on the entrepreneurial marketing dimension's influence on SME's business success. The study used survey methods by distributing questionnaires to 265 SME business owners in North Kalimantan. The sampling method uses nonprobability sampling with a convenience sampling technique. Data were analyzed using multiple linear regression analyses and moderated tests using the macro process of SPSS Hayes. The results of this study indicated that in the context of SMEs in the creative industry, customer intensity and value creation play a critical role in business success. Meanwhile, proactiveness, opportunity-focused, risk-taking orientation, innovation-oriented, and resource leveraging found no impact on SMEs' business success. The research also proves that the company's age moderated the impact of customer intensity on SME's success but does not moderate the influence of value creation to SME's business success.

Training techniques for entrepreneurial value creation

Entrepreneurial skills, knowledge, and mindset are crucial factors contributing to the growth of the economy and the benefit of society. Not surprisingly, universities and organizations have developed entrepreneurship education and training programs aiming to foster students’ and employees’ entrepreneurial capacity. The current article focuses on training techniques that aim to enhance individuals’ entrepreneurial mindset and skills for value creation. We argue that while entrepreneurial training for new value creation is crucial to both individuals and organizations, the academic literature has not investigated enough relevant exercises, techniques, and workshops. We aim to fill this gap by exploring seven different training techniques, both common and new. We describe them and analyze their effects on participants’ attitudes and recommendation intentions.

How Social Entrepreneurs’ Inner Realities Shape Value Creation

This paper empirically examines how social entrepreneurs’ inner realities – thoughts, feelings, self-awareness – shape the entrepreneurial value creation process. A qualitative research design was used to induce theory. Evidence shows social entrepreneurs engaged in practices that increased awareness of both positive and negative aspects of their inner realities. Positive aspects tended to enable generative value creation mechanisms and lead to positive social/environmental outcomes; negative aspects tended to interfere and lead to unintended negative outcomes. Key contributions include a fuller picture of the value creation process from multiple levels – individual, enterprise, wider environment – while considering social entrepreneurs’ exterior and interior dimensions.

Entrepreneurial Orientation, Synergy and Firm Performance in the Agribusiness Context: An Emerging Market Economy Perspective

Entrepreneurship researchers have called for more investigation on the contribution of context in advancing entrepreneurship theory. The aim of the paper is to analyse the agribusiness enterprise performance by introducing collaborativeness as a dimension of entrepreneurial orientation. Agribusiness is a key regional sector representing a crucial ratio of employment, economic production. and future growth. Due to the sector`s importance and the many challenges it faces, the impact of a synergy approach entrepreneurial orientation model on agribusiness performance is tested.Structural equation modelling is used to test data collected from 120 agribusinesses located in Albania. Study results show collaborativeness as a dimension of the extracted entrepreneurial orientation model which provides a synergy between the actors of entrepreneurial value creation and has a significant direct contribution to enterprise performance.Implications for Central European audience: Even though the results are related to agribusinesses in Albania, the findings of this research may advocate that to enhance enterprise performance in fragile sectors and emerging economy markets, the synergy among the value creation actors of the entrepreneurial process is a necessity. Besides the theoretical implications, this study has also some practical implications for policymakers, entrepreneurs and researchers.

Entrepreneurial Orientation and Social Value Creation

In this paper, we apply the growing body of scholarship on entrepreneurial orientation to understanding organizational performance along social rather than financial metrics. In so doing, we contri...

Accountable Capitalism, Responsible Capitalism, and Political Capitalism

This paper compares three recent prescriptive proposals for practicing capitalism: Accountable Capitalism (Senator Elizabeth Warren), Responsible Capitalism (Professor R. Edward Freeman), and Political Corporate Social Responsibility (Professors Andreas Scherer and Guido Palazzo and colleagues). Warren’s Accountable Capitalism is a corporate governance reform proposal. Freeman’s Responsible Capitalism prescribes effective stakeholder management through entrepreneurial value creation. Political CSR (expanded here to Political Capitalism) is a prescription for democratization inside and outside of businesses and provision of public goods in instances of governmental incompetence. The rationale for this examination is the possibility of political crisis in the relationship between democracy and capitalism.