Entrepreneurial Ventures Research Articles

Collective action in social entrepreneurial ventures: the role of shared meaning

PurposeSocial entrepreneurs engage in collective action to adapt and solve social problems in complex environments. Through collective action, they mobilise and access resources to create positive social change in local communities. While previous studies explain the role of social identity in promoting cooperation, this paper aims to examine shared meaning as a predictor of collective action in social entrepreneurial ventures (SEVs). This study was conducted among founders of SEVs focusing on their engagement in collective action.Design/methodology/approachThe study adopted a cross-sectional survey to achieve its objectives. The population comprised 558 SEVs registered with the Kampala Capital City Authority in Uganda. A sample size of 226 social ventures was determined using Krecjie and Morgan and participants were selected using the simple random sampling technique. The questionnaires were distributed by two research assistants, and 210 completed questionnaires were returned. Structural equation modelling was used to analyse survey data and test the study hypotheses.FindingsThe study findings show that shared meaning in the form of teamwork and group efficacy predict collective action in SEVs.Research limitations/implicationsThe results have implications for social entrepreneurship researchers, practitioners and policymakers. Firstly, creating social ties by belonging to different groups in the community creates common understanding among social entrepreneurs and other actors fostering cooperation to solve problems in the local community. Secondly, understanding each other’s perspective well enough facilitates a shared view of social problems for combined action.Practical implicationsSEVs should provide relevant information using the right channels in local communities to promote collaboration. Failure to use the right communication channels may prevent collective action. Managers in social ventures should allow for open information sharing between themselves and the partners that they work with to address social problems. This enables them to share both the good and bad feedback. It also enables the growth of teams and improves how they work. The teams should be developed with specific responsibilities so that everyone is clear on what they should do while addressing social problems.Originality/valueThe researchers argue that shared meaning develops when social entrepreneurs interact with the local community and other stakeholders prompting joint action to address social problems. This study extends knowledge on collective action using the activity domain theory.

Unlocking the Socioeconomic Advantages of Cannabis Sativa L. Legalization in African Countries: An In-Depth Review

Cannabis sativa L., an annual, dioecious, short-day plant from the Cannabaceae family, presents versatile applications encompassing cannabinoids and terpenes for medicinal or recreational utilization, as well as oil production for culinary, cosmetic, and animal feed purposes. Additionally,the plant's resilient fiber can be processed as paper, biodegradable plastics, textiles, and as construction materials (i.e., hempcrete). On a global scale, the cannabis market is projected to attain a value of $272 billion by 2028. Despite its considerable potential, some countries, including African nations, uphold prohibition due to entrenched stigma, curtailing Africa's potential involvement in the cannabis industry. Unlike regions such as the United States and Europe, where outdoor cannabis cultivation occurs once annually, Africa's climatic conditions and fertile soils allow for up to three growth cycles each year, positioning the continent as a potential frontrunner in global cannabis production. This prospect holds the potential to significantly enhance Africa's socioeconomic development by fostering job creation, addressing youth unemployment, increasing its GPD, and spurring infrastructure development. However, these inherent advantages remain underutilized due to an enduring lack of cannabis education programs that can counteract social stigma. We recommend African countries to contemplate emulating the 2018 US Farm Bill, which allows the cultivation of cannabis cultivars with diminished levels of Δ9-THC (up to 0.3%), commonly known as hemp. Hemp possesses diverse applications, encompassing medicinal uses involving CBD, THCV, CBG and other non-psychotropic cannabinoids, alongside fiber, feed, and oil production. This strategic step could yield substantial job prospects and entrepreneurial ventures, potentially generating an annual revenue surpassing $7.0 billion from cannabis and hemp flower sales exclusively.

Attractiveness, ethnicity, and stage financing: exploring heuristics in venture capital staging

ABSTRACT Understanding heuristics in stage financing is imperative, given the consequences of staging for both new venture entrepreneurs and VC investors. This study documents how entrepreneurs’ physical attractiveness affects VCs’ staging intensity during the early stages of the funding process, while taking into account the ethnic constellation of a given VC – entrepreneur dyad. Using a dataset for a representative sample of 231 European IT-ventures, the study finds that physical attractiveness of the lead entrepreneur and the ethnic constellation of a given VC-entrepreneur dyad independently and jointly affect a VC’s staging intensity during the early stages of the financing process. These findings were subjected to a two-stage least squares analysis and Heckman selection models.

Bridges over troubled water: Incubators and start-ups’ alliances

Innovative start-ups are important drivers for economic development. However, they often suffer from several market imperfections and lack the necessary resources to flourish. Incubators are an important policy mechanism for nurturing the creation and growth of successful entrepreneurial ventures. Specifically, we argue that incubators act as an effective tool in filling start-ups’ social capital and in conferring them more legitimacy, so as to ease start-ups’ probability to stipulate alliances with key third parties. In this respect, we also theorize that incubators are heterogeneous and these helping functions may vary with their inherent characteristics. We propose that the supposed ‘bridging effect’ towards start-ups’ alliances could depend on the size of the incubator, its affiliation, and the type of alliance (R&D vs. commercial). The hypotheses are tested through a dataset of 1752 Italian young innovative companies. Results suggest that incubatees are significantly more likely to stipulate alliances with third parties. This bridging role is found not to depend so much on the size of the incubator; conversely, it appears highly contingent on specific matches between the institutional affiliation of the incubator and the type of alliance.

Online experimental research on the psychological capital development of new venture entrepreneur under the COVID-19 pneumonia epidemic.

The global economy has been severely traumatized by the COVID-19 pandemic, and new ventures are under tremendous pressure to survive. This paper explores whether structured reading materials and mindfulness intervention can develop entrepreneurs' psychological capital and whether there are different effects on different development methods. We recruited 112 new venture entrepreneurs and carried out an online experiment using the experimental group, the control group, and the pre-test and post-test design; at last, 83 of whom participated in the process can be assessed for psychological capital development effect. The research findings indicated that structured reading materials could effectively improve the overall psychological capital of the subjects (t = -5.574，p < 0.01) and impact in every dimension, including self-efficacy (Z = -2.858, p < 0.01), hope (t = -3.560, p < 0.01), resilience (t = -4.368, p < 0.01) and optimism (Z = -3.300, p < 0.01). In comparison, mindfulness intervention can improve the subjects' overall psychological capital (Z = -3.293, p < 0.01) and improve levels of self-efficacy (Z = -2.285, p < 0.01), hope (t = -4.244, p < 0.01), resilience (t = -3.167, p < 0.01), but limited effect on the optimism (t = -1.955, p > 0.05); In addition, there is no significant difference between structured reading materials and mindfulness intervention according to the statistical analysis.

The different effects of venture capital and the trade-off between product innovation effectiveness and efficiency

PurposeWhich venture capital is more beneficial in the product innovation of entrepreneurial ventures? The authors study the drawbacks and different effects of corporate venture capital (CVC) and independent venture capital (IVC) on the effectiveness and efficiency of product innovation in entrepreneurial ventures to answer this question.Design/methodology/approachThis study uses a panel dataset of 502 high-tech ventures and runs the Heckman model to correct potential endogeneity issues.FindingsThe authors find that CVC increases the product innovation effectiveness of entrepreneurial ventures, but decreases their efficiency. IVC reduces innovation effectiveness and enhances efficiency. However, CVC performs less positively, while IVC performs more positively in terms of innovation effectiveness and efficiency in the B2B market than in the B2C market.Practical implicationsThis study provides insights into how to leverage venture capital to develop new products effectively and efficiently.Originality/valueThis study moves beyond the current understanding of the finance-marketing interface. It delineates the two faces of venture capital and reveals the joint effects of equity stakes and market stakes between different types of venture capital and transaction markets in product innovation.

Different, but same: A power law perspective on how rock star female entrepreneurs reconceptualize “gender equality”

Prior studies investigating new venture emergence and growth from a gender-based lens have consistently found that, on average, female-founded ventures underperform their male-founded counterparts. In this study, we draw from the power law perspective to suggest that these findings primarily originate from the way researchers treat the outliers, those observations far from the normal. We hypothesize that the best of the best (i.e., the Rock Star) founders and ventures of each gender will have equally stellar performance. Contrary to the majority of entrepreneurship studies that consider outliers as ‘‘problems’’ that must be removed or transformed, the power law perspective assumes that outliers are different, have differential effects by skewing distributions far to the right, and are likely the most interesting and influential cases in the population. We leverage semi-parametric methods on longitudinal data from a representative sample of nascent entrepreneurial ventures to demonstrate the gender effect on outlier vs. non-outlier categories. Our findings suggest that gender does, in fact, negatively affect non-outliers (i.e., “average” entrepreneurs), while having no impact on outliers. We show that compared to the majority of the population, those with outlier inputs—resource endowments, expectations for future growth, and engagement—have a greater likelihood of achieving outlier outcomes, regardless of their gender. Our study contributes to the domain's inclusive understanding of women entrepreneurs and female-led ventures, and to the growing theoretical interest in the emergence of star performers.

The role of marketing agility and risk propensity in resilience and survival of eastern European immigrant entrepreneurs in Denmark

PurposeWhile extant research has increasingly examined minority entrepreneurs, less attention has been paid to Eastern European immigrant entrepreneurs and the role that marketing agility and risk propensity play in their resilience and survival in Nordic countries. This paper aims to highlight the importance of these factors for Eastern European immigrant entrepreneurs in the developed Nordic economy of Denmark.Design/methodology/approachThis paper adopts the dynamic capabilities view as a theoretical framework and uses a qualitative research approach with interviews as the main data collection method. The empirical sample comprises 12 entrepreneurs originating from Hungary, Slovakia, Latvia, Lithuania and Romania, who operate in Denmark.FindingsThe findings show that contrary to prior studies that have highlighted a reliance among the migrant entrepreneurial community on ethnic networks as their dominant target market, Eastern European immigrant entrepreneurs located in Denmark, in contrast, focused on attracting Danish consumers as their target market audience. Leveraging multiple networks was therefore found to be critical to the survival of these immigrant ventures. Additionally, the entrepreneurs' marketing agility, underpinned by their optimistic approach, growth ambitions and passion for entrepreneurship, was found to play a pivotal role in their survival. Finally, despite the stable institutional environment in Denmark and the ease of doing business (both of which are influential factors in shaping the risk propensity and risk perception of entrepreneurs), the authors found immigrant entrepreneurs' risk propensity to be rather low, which was contrary to the expectations.Originality/valueThe current paper is one of the first studies that explicitly analyzes the roles of marketing agility and risk propensity in the resilience and survival of the ventures of relatively skilled immigrant entrepreneurs from Eastern Europe in a developed Nordic economy (Denmark). The paper's findings also challenge the notion associated with immigrant entrepreneurial ventures being primarily focused on ethnic customers or enclaves. The paper also specifies the peculiarities of marketing agility in immigrant entrepreneurial contexts and solidifies the importance of diverse networks in immigrant business survival and development.

Entrepreneurial leadership, strategic flexibility, and venture performance: Does founders' span of control matter?

While research provides consistent evidence on the relationship between leadership and firm performance, little is known about the mechanisms and organizational context through which founders’ entrepreneurial leadership behaviors affect venture performance. Building on and extending the upper echelons theory, our study uses data on 507 entrepreneurial ventures and finds that strategic flexibility is an important strategic capability that positively mediates the link between entrepreneurial leadership and venture performance. We introduce span of control—measured by the number of employees per founder—as an important structural variable that moderates these relationships. Notably, strategic flexibility fully mediates the leadership–performance relationship only at low to moderate levels of span of control, and not at high numbers of employees per founder. Finally, we discuss the study’s implications in the light of upper echelons theory and how they can guide founders’ leadership behavior in practice.

Informacione tehnologije kao alat za razvoj digitalnog preduzetništva i ostvarivanje konkurentske prednosti

Information technology continues to be a growing industry. Thanks to the inventions in the development of software, hardware, as well as information and communication technologies, there have been numerous advantages that are reflected in business integration, entrepreneurial ventures, as well as micro, small and medium and large enterprises, where savings and profits are realized thanks to information technologies. Defining the business strategy, in accordance with the influences of information technology, refers to the definition of products and services, ways of doing business and forecasting. Thanks to the development of information technologies, traditional entrepreneurial ventures are becoming digital entrepreneurial ventures, which are becoming far more competitive. This paper aims to define digital entrepreneurship through a literature review, to see the basic advantages of digital entrepreneurship compared to traditional ones and to show the importance of using information technologies and digital platforms for the development of competitive digital entrepreneurial ventures.

The Synergistic Impact of Artificial Intelligence and Big Data Analytics on Marketing Communication Strategies in Entrepreneurial Ecosystems: A Data-Driven Approach

In today's competitive entrepreneurial landscape, effective marketing communication strategies play a pivotal role in success. Entrepreneurs are increasingly adopting cutting-edge technologies like artificial intelligence (AI) and big data analytics to optimize their marketing efforts. This research explores the synergistic impact of AI and big data analytics on marketing communication strategies within entrepreneurial ecosystems, presenting a data-driven approach. The study assesses the current marketing communication landscape in entrepreneurial ventures, identifying challenges faced by entrepreneurs in connecting with their audiences. By reviewing the latest trends in AI and big data applications, we investigate their integration into marketing communication strategies. Through case studies and empirical data analysis, the research uncovers the successful adoption of AI and big data analytics in entrepreneurial marketing communication. These technologies enable personalized and targeted campaigns by identifying customer preferences and behaviors. Big data analytics helps refine marketing strategies by extracting valuable insights from vast datasets. The research also addresses challenges and ethical considerations related to data privacy and bias. Additionally, it explores the necessary infrastructure and human capital for effective implementation. The findings highlight AI and big data's critical role in driving innovation and growth in marketing communication within entrepreneurial ecosystems. Adopting a data-driven approach empowers entrepreneurs to enhance marketing effectiveness and gain a competitive edge. In conclusion, this research showcases AI and big data analytics as transformative tools for shaping marketing communication in entrepreneurial ventures. Leveraging these technologies strategically can unlock novel opportunities and ensure long-term business success in the dynamic marketplace.

Performance of youth-owned businesses

Youth entrepreneurship is one of the solutions for unemployment. Previous studies focused to some extent on the support of youth entrepreneurship. The purpose of this paper was to analyse the profitability of youth-owned businesses. This paper was aimed at making a scientific contribution to research studies by Radipere and Ladzani (2014) and Hallak et al. (2014) by analysing the profitability of youth-owned businesses, using a theoretical framework of profitability. A quantitative approach was followed to achieve the research objectives. Data were analysed using the Statistical Package for the Social Sciences (SPSS) to compile descriptive statistics. The research results show an increase in profits attained by the youth-owned businesses surveyed. Moreover, the results indicate that youth-owned businesses recorded business growth from sales. Sales growth is an essential parameter for the survival and financial growth of a business. Good sales growth in a business can always be used for the benefit of the employees and the business in terms of providing salary raises, acquiring new assets, and expanding the business or the product line. Recommendations are made for young people who have undertaken new entrepreneurial ventures, business consultants, and other stakeholders in youth entrepreneurship, and future research directions are outlined.

STATUS OF MUSLIM WOMEN ENTREPRENEURS: A CASE STUDY WITH SPECIAL REFERENCE TO RURAL AREAS OF IMPHAL EAST, MANIPUR

This research article delves into the status of Muslim women entrepreneurs in rural areas of Imphal East, Manipur. The study explores the challenges and opportunities faced by these women in establishing and sustaining businesses within their communities. Through a comprehensive investigation, this article aims to provide insights into the socio-economic factors influencing Muslim women's entrepreneurial ventures and suggest strategies to empower and support them for a more inclusive and equitable economic landscape.

Academic Bioinformatics activities joining hands with Entrepreneurial Ventures: A way to go in Life Science Research (Case Studies from Indian academia, start-ups, and the life science sector)

Academic Bioinformatics activities joining hands with Entrepreneurial Ventures: A way to go in Life Science Research (Case Studies from Indian academia, start-ups, and the life science sector)

Academic bioinformatics activities joining hands with entrepreneurial ventures: a way to go in life science research (case studies from Indian academia, start-ups and the life science sector)

Academic bioinformatics activities joining hands with entrepreneurial ventures: a way to go in life science research (case studies from Indian academia, start-ups and the life science sector)

Digital Learning Experience among Newbie Entrepreneurs

Entrepreneurship is essential to Indonesia's economic development. It is evidenced by 99.9 percent of all Indonesian firms are micro, small, and medium-sized enterprises (MSMEs). Young generations play an essential part in entrepreneurial ventures since they are more likely to start a new business than older generations. Moreover, Gen Y and Gen Z are more adept with digital learning behaviors. This study adds significantly to the existing entrepreneurial literature by examining social media learning on knowledge-based activities. The Rasch model was used in this study. It evaluated social media as a digital platform where newbie entrepreneurs can use resources and capabilities through knowledge-based activities to develop digital learning among them. The study's outcomes demonstrate a significant difference in exploitative behaviors between gen Y and gen Z. On the contrary, there are no significant differences in both generations' explorative and knowledge-sharing behaviors. It means they have the same level of explorative and knowledge-sharing behaviors.

An insight into rural entrepreneurship through tourism development and its impact on the living conditions of local communities in India

The uniqueness of Indian culture, tradition, way of life, historical, legendary things, heritages and other attractive tourist spots, especially the rural parts of our country is the most significant factor for the development of local community. The existence of bright spots like Kulu Manali, Jammu Kashmir, Ootacamund, Kodaikanal and other temples, churches, Ajmer Dharga, Taj Mahal are the most preferential points both by the domestic as well as foreign tourists. In the light of the above discussion, how these parts create entrepreneurial tendency among the local community either by the way of entering into the venture of setting many hotels, travels, tour operations, guides and sales emporiums. Each and every tourism parts in India in the local areas directly created employment and income. Moreover the prosperous and dynamic people in the rural areas may come forward to act as a liaison agent between the tourist and the localities. Automatically the tendency of the rural elites may emerge in to setup many entrepreneurial ventures. Especially in the parts of north eastern hill areas popularly known as 7 sisters of Indian states enter into displacing their handicraft works, sculptures, wooden works and other traditional hand made goods largely sold to the tourist. By this way a lot of income and employment opportunities have been emerged. In this paper the researchers seems to explain the overall entrepreneurial abilities among the local communities through the development of rural tourism in India with some expositions.

Analysis of innovation and creativity impact on the entrepreneur career development

In contemporary literature, entrepreneurship is increasingly attracting attention by emphasizing new observation angles of innovation and creativity. Creativity is exactly the initial impulse that can encourage entrepreneurs to realize an entrepreneurial venture. Finding niches in the market, noticing needs that others have not, as well as different activities, circumstances or events characterize the uniqueness that represents creativity. Entrepreneurial activity generates sustainable economic growth and a better standard of living through innovation and comparative advantage. The innovativeness of an entrepreneur is reflected through a new focus of seeing things, that is, the courage to try something new and different from the existing one. It is precisely in this segment that we can talk about the career of an entrepreneur, which includes a tendency to take risks, enthusiasm for adopting new ideas, accepting new business methods, and, finally, implementing innovative strategies in the business he is engaged in. In the empirical research that was conducted for this work on 168 entrepreneurs, all from the territory of the Republic of Serbia, the connection between innovation, creativity, and career was analyzed.

A Systematic Literature Review of Individual Predictors on Internet Entrepreneurial Ventures among Academics

A Systematic Literature Review of Individual Predictors on Internet Entrepreneurial Ventures among Academics

Environmental compliance and business strategies practices of entrepreneurial ventures

The study is devoted to the research of environmental compliance and business strategies of the practice of venture enterprises. The purpose of the study is to determine the role of environmental compliance in the business strategies of enterprises and to reveal the potential of a positive impact on sustainable development. The paper examines hypotheses regarding the favourable impact of environmental compliance on the competitiveness and innovative potential of enterprises. Environmental compliance and business strategies of enterprises have the potential to promote sustainable environmental development, which is currently only 10% used. This requires the active participation of enterprises in the implementation of environmental practices, investments in innovative solutions and the development of knowledge. The study highlights the need to support and promote practices such as venture entrepreneurship, which contribute to the creation of new environmentally relevant technologies, products and services. Therefore, the results of this work indicate the importance of developing and implementing ecologically appropriate business strategies in business practices. This can contribute to improving the environmental condition, ensuring sustainable development and strengthening the competitive positions of national economies.