Exploitation Of Opportunities Research Articles

The impact of entrepreneurship pedagogy on nascent student entrepreneurship: an entrepreneurial process perspective

ABSTRACT Drawing on a general distinction underlying theoretical and practical-focused pedagogies, this study examines the nexus among entrepreneurship pedagogy, entrepreneurial intention, and opportunity discovery and exploitation of an entrepreneurial process. Data was obtained from nascent student entrepreneurs (n = 462) enrolled in Chinese universities or their recent graduates. Path analysis results reveal that practical-focused pedagogy contributes more to the entrepreneurial process than theoretical-focused pedagogy. Scrutinising entrepreneurship pedagogy respectively, theoretical-focused pedagogy has a more significant impact on opportunity exploitation; in contrast, practical-focused pedagogy is more influential for opportunity discovery. Results also demonstrate that entrepreneurial intention partially mediates the paths from engaging in practical-focused pedagogy and opportunity discovery and exploitation processes. Contrary to the hypothesis, a similar mediating role for the paths of theoretical-focused pedagogy is not identified. This research sheds light on the more nuanced effectiveness of entrepreneurship programmes on students’ learning and the entrepreneurial processes by disentangling the heterogeneous nature of entrepreneurship pedagogy. It implies that opportunity recognition and exploitation are dependent upon knowledge and learning asymmetries resulting from the disparity of entrepreneurship pedagogies. Our findings suggest that the relationship between theoretical and practical pedagogies is of a reciprocal nature in yielding effective learning outcomes, calling for integration in teaching practice.

Outward foreign investment by transnational entrepreneurs: Insights from emerging economies

AbstractThis research considers how transnational entrepreneurs in emerging economies identify and develop opportunities for investment into international ventures. Specifically, this study seeks to identify common drivers for outward investment by transnational entrepreneurs from their country of origin (Brazil and India) to their adopted country (the US). Findings indicate three common drivers of this type of internationalization: formal education, effectual logic, and the leveraging of perceived market differences. Furthermore, the data show that entrepreneurs prefer a gradual process of investment rather than a large‐scale initial investment during the exploitation of international opportunities in the adopted country. The results of this study have important practical implications and are valuable additions to the scholarly understanding of the growing field of transnational entrepreneurship.

Influence of Individualism on Entrepreneurial Opportunity Exploitation among Small and Medium Enterprises Owners in Tanzania

Aims: The main objective of this study was to examine the influence of individualism on entrepreneurial opportunity exploitation among small and medium enterprise owners in Tanzania through the mediation effect of innovativeness. Specific objectives were to examine the influence of individualism on entrepreneurial opportunity exploitation and to examine the mediating effect of innovativeness on the influence of individualism on entrepreneurial opportunity exploitation.
 Methodology: The study employed an explanatory research design. 370 small and medium enterprise owners were studied using a cross-section survey questionnaire. Partial least square structural equation modelling was used to test the instruments’ validity and reliability and testing the direct and indirect hypotheses on the effects of individualism on entrepreneurial opportunity exploitation.
 Results: After testing the hypotheses, the direct effects showed that individualism positively and significantly influences entrepreneurial opportunity exploitation among small and medium enterprise owners. Testing mediation effects, it was found that innovativeness partially mediates the relationship between individualism and entrepreneurial opportunity. Therefore, innovativeness has positive significant indirect effects on the relationship between individualism and entrepreneurial opportunity exploitation. 
 Conclusion: Individualism directly and indirectly influences small and medium enterprise owners to exploit entrepreneurial opportunities. The study helps policymakers to understand that individualistic values, if well addressed in entrepreneurship policy, can help to promote innovativeness and entrepreneurial opportunity exploitation. Practically, the study implies that well-structured culture influences small and medium enterprises owners’ behavior to exploit opportunities.

SMEs entrepreneurial finance-based digital transformation: towards innovative entrepreneurial finance and entrepreneurial performance

ABSTRACT The antecedents and determinants of entrepreneurial capabilities and competencies remain one of the incontestable questions that drive the exploitation and discovery of effective financial and digital opportunities. In the present paper, we propose a conceptual model based on Kirzner’s alertness theory [entrepreneurial alertness] and rely on two factors [entrepreneurial orientation and marketing orientation] as key accelerators of entrepreneurial financial alertness. We assume that entrepreneurial financial alertness (EFA) might have a direct impact on entrepreneurial finance-based digital transformation (EFDT), which in turn, is expected to predict both innovation entrepreneurial finance (IEF) and SMEs’ entrepreneurial performance (SMEEP). Structural equation modeling (SEM) was employed using data collected from a purposive sample size of 214 Jordanian entrepreneurs. Our findings largely support the impact of EFA on EFDT. EFDT was also supported having a significant impact on both IEF and SMEEP. Our study has many implications for both researchers and practitioners in the area of entrepreneurial finance-based digital transformation. The study has great added-value by proposing and examining a solid theoretical foundation covering the most influential factors that drive digital entrepreneurial transformation as such transformation stands as an emerging and pressing issue, not fully tackled by prior studies.

Entrepreneurship education and entrepreneurial communities in India: does gender really play a role?

PurposeUsing the extant literature review, this paper aims to explore the relationship between gender, entrepreneurial education (EE) and entrepreneurial intention (EI) in the Indian context, which the authors believe is a novel approach to this research stream. The authors also use career preparedness as a control variable to examine this relationship.Design/methodology/approachData were collected from 368 undergraduate students across four Indian universities (one exclusively for female students) through a standard structured questionnaire. Additionally, rather than examining, EI has been treated as a monolithic construct; however, the authors conceptualize it as comprising three different dimensions that include grand vision and risk-taking ability; opportunity exploitation; and ability to persevere. An additional analysis was conducted for the students who reported higher scores for “being well prepared for their careers” through their institutes’ academic programs and communities of entrepreneurs. The authors also interviewed some entrepreneurship instructors, who confirmed the present findings through their observations.FindingsThe findings indicate that, essentially, there is a positive relationship between EE and EI. The authors find that male students scored higher for the first two dimensions of EI but not the third. Additionally, the authors used career preparedness as a control variable for additional analysis. The authors observed that students with higher “career preparedness” reported a positive relationship between EE and EI, independent of gender, for all three dimensions of EI. Thus, it may be assumed that if a community of entrepreneurs needs to be developed in India, a focus on career preparedness is critical.Research limitations/implicationsFirst, given that the present survey reflected a single moment in linking EE to EI (which may be considered a limitation of the study), future researchers might focus on a longitudinal approach. Second, all the respondents are attending urban universities (and, as such, very likely belong to the upper middle class of Indian society). The financial divide between urban and rural India is well known; as such, the results might be different if the sample was drawn from rural and poor India.Originality/valueThe salience/value of this study lies in the conceptualization of EI comprising three sub-constructs to understand the impact of formal EE (with three sub-constructs) on EI. The focus on career preparedness for a female student is a new direction of inquiry with respect to entrepreneurial intention.

Management Control Systems in the Business Sector: Understanding Trends from Selected Literature in an International Setting

In a business organisation management control systems are found in the design of organisational structures and the policies and procedures used for planning and evaluation. Many authors have defined management control systems in many ways and as a result different typologies of management control have evolved to define management behavior. Management control systems must be expanded to managerial practices that cultivate employee cooperation and creativity in the discovery and exploitation of new business opportunities. This study is an attempt to explore the trends of management control systems applied in different country’s business sector based on worldwide selected published literatures.

Surfing with the tides: how digitalization creates firm performance through supply chain entrainment

PurposeDigitally oriented firms are faced with new opportunities and risks in today’s ever-changing world. Drawing upon organisational entrainment theory, this study investigates how supply chain (SC) entrainment improves the effects of digital orientation on firm performance through absorbing risks and exploiting opportunities.Design/methodology/approachSurvey data were collected from 307 Chinese manufactures and analysed using structural equation modelling and regression analysis.FindingsThe results show digital orientation absorbs risk through evoking three SC entrainment dimensions (i.e. internal entrainment, entrainment with customers and entrainment with suppliers). Entrainment with customers and suppliers mediate the relationship between internal entrainment and firm performance. An opportunity exploitation mechanism is evidenced by the moderating effects of internal and external entrainment on the relationship between digital orientation and firm performance.Practical implicationsThe empirical findings provide timely insights for managers to fully harness the benefits of digital orientation by using SC entrainment, i.e. to match the tempo and pace of internal and external cyclical activities to reduce the risks and increase the benefits of adopting advanced digital technologies. The authors show managers how to adjust their organization’s actions to keep tempo and synchronous phase with their SC partners.Originality/valueThe study introduces and conceptualizes a construct (i.e. SC entrainment) to understand how risks and opportunities arising from digital transformation can be addressed to maximize the value of advanced digital technologies.

기업가적 리더십이 혁신업무행동과 직무 관련 심리적 웰빙에 미치는 영향

The recent dynamic business environment at home and abroad and rapid technological development increase the importance of employee innovative work behavior and job-related psychological well-being in securing competitive advantage and achieving organizational sustainability. Entrepreneurial leadership suggests that leaders possess the ability to motivate and direct subordinates to achieve organizational goals, including the recognition and exploitation of entrepreneurial opportunities.
 This study is a study on the effect of entrepreneurial leadership on the innovative work behavior of employees, job-related psychological well-being, and the mediating effect of affective commitment. For the empirical analysis, 421 online questionnaires located in Beijing, China were used, and the hypothesis was verified using the structural equation model through Mplus 8.3. According to the analysis results, entrepreneurial leadership not only affects innovative work behavior and job-related psychological well-being, but also the mediating effect of affective commitment in the relationship between entrepreneurial leadership and innovative work behavior and job-related psychological well-being was verified.
 The results of this study contribute to the study of entrepreneurial leadership. This study proposes some recommendations to increase employees' innovative work behavior and job-related psychological well-being. This suggests that organizational managers recognize the positive effects of entrepreneurial leadership and actively use entrepreneurial leadership.

Three Player Interactions in Urban Settings: Design Challenges for Autonomous Vehicles

An observational analysis of crossing episodes between two intersecting vehicles, in which a third road user clearly affected its evolution, was conducted in an attempt to identify (i) recurring patterns of informal coordination among road users and (ii) traffic situational invariances that may inform AV prediction algorithms. The term BLOCK-EXPLOITING is introduced to describe a driver’s exploitation of situational opportunities to gain priority often contrary to regulatory provisions, but favouring overall traffic efficiency. Video-data from an urban stop-controlled intersection were analysed through the lens of joint systems theory using a phenomenological framework developed in this study. Four generic types of BLOCK-EXPLOITING were identified (i.e. covering, ghost-covering, piggybacking, sneaking). Covering and ghost-covering led to minimal or no delays while piggybacking and sneaking, although abusive to other drivers, still only resulted in 1.99 to 3.33 sec delay. It is advocated that BLOCK-EXPLOITING can be socially acceptable. Proposed design challenges for AVs in mixed traffic include the ability to (i) distinguish BLOCK-EXPLOITING from errant driving, (ii) recognise to whom a ‘space-offering’ is addressed, and (iii) assess the appropriateness or abusiveness of a BLOCK-EXPLOITING action. Finally, this study brings to fore very short-time span joint-activity coordination requirements among diverse agents unknown to each other.

Opportunity recognition and exploitation in resource-scarce contexts: the role of relational capital and bricolage in African social enterprise

ABSTRACT The purpose of this study is to provide empirical evidence of the mediating influence of bricolage on the relationship between relational capital (RC) and entrepreneurial opportunity recognition and exploitation among social enterprises (SEs) located in Ghana, Nigeria, and Sierra Leone. Data were collected from a sample of 151 SEs and the results highlight that opportunity recognition and exploitation are significantly and positively affected by relational capital. These relationships are reinforced by the mediating and positive effect of entrepreneurial bricolage. This is the first empirical study to examine the linkages between RC and opportunity recognition and exploitation in SEs. SEs need to recognise the importance of relational capital in supporting the recognition and exploitation of opportunities. They should also be aware that these relationships, in a resource-scarce environment, can be strengthened by an entrepreneur’s ability to adopt bricolage. Theoretical and practical contributions are also offered.

Optimized operation of distributed energy resources: The opportunities of value stacking for Power-to-Gas aggregated with PV

This analysis investigates the business case of a virtually aggregated unit with PV and Power-to-Gas, outlining the added value of enhanced operation modes for the deepened market integration of distributed energy resources in an aggregated form. Based on empirical generation and market data, the presented analysis outlines the added benefit of the so-called value stacking that considers the exploitation of short-term arbitrage opportunities, the provision of secondary and tertiary frequency reserve, and active imbalance management to balance forecast errors. A multi-stage and multi-period optimization approach is presented to generate an aggregated bidding strategy on multiple energy and ancillary service markets. On a case study basis with hourly resolution, annual energy flows and financial outcomes are derived for the modelled plant. Overall, nine different operating modes with different levels of market integration of the aggregated unit are analysed. While static baseline operation results barely profitable, proper integration into energy markets raises the annual cash flow from operating activities to around 60 k€ per aggregated MW. This six-fold increase is accompanied by a much more price-specific dispatch with the equivalent full-load hours of controllable output effectively dropping to about one-third. Integrating the aggregated unit further into balancing markets and performing active imbalance management leverages the freed-up capacity margin and further increases the operational results up to 150 k€ per MW. The provided empirical insights from the case study are beneficial for both practitioners in the energy sector that want to evaluate the potential value of virtual aggregation with enhanced operation and policymakers that consider further regulatory amendments to open markets and enable further integration of new energy sources.

Individual Characteristics as Enablers of Construction Employees’ Digital Literacy: An Exploration of Leaders’ Opinions

The shift towards digitalisation has been empowering growth in the construction industry, especially in the past decade. Construction stakeholders are offered myriad benefits by embracing digital advancements to achieve efficiency. However, the exploitation of digital opportunities is bounded by the need for a practitioner skillset that aligns with the digital era, a requirement that has been described as difficult to meet and justified by the low degree of digital literacy among construction employees. This paper reports findings from interviews with 19 leaders and decision makers in the construction sector to reveal the indicators that can predict construction employees’ digital literacy. Such an approach offers a comprehensive exploration of the likelihood of employees’ digital literacy through socially oriented characteristics. Overall, 19 individual characteristics emerged from the thematic analysis and highlight the critical connection between social behaviour and digital literacy. The findings of this paper are timely and important for those businesses assessing their employees’ willingness and maturity with regard to technological change through social and behavioural information. The qualitative approach led to the development of a conceptual framework that can explain the dynamics needed to assess employees’ digital literacy in construction organisations. This study, therefore, reveals the effectiveness of predicting employees’ readiness to shine in the digital era by shedding light on their digital literacy through examinations of individual characteristics in a construction workplace. This paper is among the first to encourage research efforts that take into account the importance of studying social and psychological complexities, which are subject areas that are limited in recent construction literature. As such, it is of value to employers wishing to embed greater digitalisation in their firms, as well as researchers in this domain and policymakers looking to encourage greater digital transformations.

Experimental Choice and Disruptive Technologies

This paper examines how a firm’s choice of the type of experiment impacts on its potential exploitation of new technological opportunities. It does so in the context of the failure of successful firms (or disruption) where the literature has informally suggested that firms undertake errors in experimental choice. It is shown that firms will generically choose experiments that minimize false positives (a high-bar) or minimize false negatives (a low-bar) rather than strike a balance between the two. This is done to better inform decisions regarding the exploitation of technological opportunities. It is shown that these choices can differ between incumbents and entrants based on their fundamentals and because of the anticipation of competition between them. This paper was accepted by David Simchi-Levi, business strategy.

Entrepreneurial intention and the three stages of entrepreneurial action: a process approach.

The relationship between entrepreneurial intention (EI) and entrepreneurial action (EA) is a popular topic in entrepreneurship research, owing to the contribution of these constructs in the process leading to the entrepreneurial activity taking place. There are still countries that are recording high entrepreneurial intention levels in comparison to their corresponding entrepreneurial action levels that are low. This is a global concern to which South Africa (SA) is also not immune. Most of the research tests the relationship between two single constructs: EI and EA. Our study follows a process approach and investigates the effect of this relationship between EI and the three stages of EA. A quantitative method was employed and a survey utilized whereby data was collected among 597 entrepreneurs in South Africa. The data was analyzed through Confirmatory Factor Analysis (CFA) and Structural Equation Modeling (SEM). The EI construct is supported through the Theory of Planned Behavior, in conjunction with the Motivation Opportunity Ability theory. The Discovery Theory, together with the Creative Theory, supports each of the stages of EA, namely: entrepreneurial opportunity discovery (EODI); entrepreneurial opportunity evaluation (EOEV); and entrepreneurial opportunity exploitation (EOEX). Previous research regarding the relationship between EI and EA measured this relationship from a binary point of view. This study contributes to the entrepreneurship field by employing the process approach to determine the impact of EI on the stages of EA. This study reveals that EI is statistically significant in all three stages of EA. However, the strength of this relationship is found to be strong between EI and the EODI and EOEV stages and moderate between EI and the EOEX stage. Therefore, this study reveals that effective training interventions and development are necessary between EI and the EOEX stage of EA.

Entrepreneurship and digital capitalism: an assessment of corporate power

Abstract I propose verifying whether, in the context of “high-tech” capitalism, large companies have reinforced their control over innovation. The new digital economy has often been associated with the emergence of a market democracy which is favourable to new entrants through the adoption of innovative entrepreneurial approaches. The economic evolution resulting from the digital economy seems to call into question the findings of the theory of monopoly capitalism formulated in the context of industrial capitalism, which gives a central place to giant companies. The identification and exploitation of innovative opportunities were thus considered to be the prerogative of large firms, thus limiting the possibilities of market entry. Based on the analysis of 10,900 patent applications, I demonstrate that the control of innovation by Big Tech companies in the digital industry is stronger than in other industries and less favourable to new entrants.

Topological Interference Management With Adversarial Topology Perturbation: An Algorithmic Perspective

In this paper, we consider the topological interference management (TIM) problem in a dynamic setting, where an adversary perturbs network topology to prevent the exploitation of sophisticated coding opportunities (e.g., interference alignment). Focusing on a special class of network topology – chordal networks – we investigate algorithmic aspects of the TIM problem under adversarial topology perturbation. In particular, given the adversarial perturbation with respect to edge insertion/deletion, we propose a dynamic graph coloring algorithm that allows for a constant number of re-coloring updates against each inserted/deleted edge to achieve the information-theoretic optimality. This is a sharp reduction of the general graph re-coloring, whose optimal number of updates scales as the size of the network, thanks to the delicate exploitation of the structural properties of chordal graph classes.

An entrepreneurial framework for value co-creation in servitization

The importance of value co-creation in servitization is increasingly emphasized but remains largely unexplored from the entrepreneurship theoretical perspective. This study develops an entrepreneurial framework for value co-creation in servitization by conducting a qualitative case study with middle managers from a multinational industrial company. The empirical findings suggest that value co-creation facilitates the discovery and creation of service opportunities through middle managers' entrepreneurial actions, that is, boundary spanning and bricolage. We also find that servitization reinforces value co-creation through middle managers' exploitation or exploration of service opportunities. The study not only offers new knowledge on the mutual influence between value co-creation and servitization, but also discusses the importance of middle managers as individual level actors in value co-creation. In addition, this study acts as a call for entrepreneurship frameworks for research on servitization.

Beating the Employment Challenges: How Unemployed Youths Generate Income for their Households

Youth unemployment remains a global threat to the achievement of the United Nations’ sustainable development goals. It impedes the fight to end poverty in all its forms, limits opportunities to promote inclusive and sustainable economic growth, and undermines a country’s ability to reduce inequalities. In Sub-Saharan African nations, the unemployment rate is particularly high because the environment is prone to volatility caused by poor governance, chronic conflicts, and corruption. Unemployed graduates who lack effective strategies risk failing to generate income for themselves and their families. Thus, my purpose in this qualitative multiple case study, which was grounded in achievement motivation theory, was to explore the strategies unemployed youths use to generate income for their households. Four unemployed South Sudanese graduates were interviewed and directly observed, and the gathered data were thematically analyzed. Three themes emerged: exploitation of available opportunities including taking on casual work, working for others to get starting capital, and engaging in trade and microbusiness. A key recommendation was developed: i.e., provide training programs to help unemployed graduates change their mindsets, which value white-collar jobs over casual work, trade, and microbusiness; they can then embark on the identification and exploitation of available opportunities that can create anything of economic value. The implications for positive social change include evidence that unemployed graduates are adopting appropriate strategies to improve their household income. The findings also have the potential to help youth empowerment institutions address the gaps in strategies for directing youths to generate income.

Impact of green entrepreneurship on sustainable development: An ex-post empirical analysis

This paper contributes to the recent stream of econometric entrepreneurship research by introducing the environmental orientation of new ventures as a key factor for sustainable development. It empirically assesses whether relationships exist between national shares of green entrepreneurial activity (GEA) and economic, social, and environmental development. Theory and first empirical evidence suggest that – compared to conventional new ventures – new green ventures have a more positive economic and social impact and are less harmful or even beneficial to environmental quality. OLS regressions were estimated to empirically test the impact of GEA rates (share of total entrepreneurial activity) on GDP, the modified HDI, and CO2 emissions. For this purpose, Global Entrepreneurship Monitor data for 11,909 early-stage entrepreneurs was aggregated to the macro-level of 53 countries and merged with further international datasets. The results confirmed that higher shares of GEA are positively related to economic and social development but not to environmental development. Additional tests proved the robustness of the results for different economic development levels, time-lag variations, and different measurements of dependent and independent variables. The identified economic and social importance of GEA warrants intensified policy efforts to support the discovery, creation, and exploitation of green business opportunities. Potential explanations for the counterintuitive non-significant environmental impact are discussed, leading to new research avenues.

Who can Practice Islamic Entrepreneurship: A Review of Recent Literature on Personality Traits

Does personality matter when entrepreneurship endeavors are driven by Islamic values and religious practices? To understand this, the study reviewed the research on the relationship between personality and practicing Islamic Entrepreneurship. More specifically, the study proposed a conceptual model after reviewing the literature to show what personality traits and characteristics become important when Islamic religious values and practices guide entrepreneurial activities, therefore, appear as critical contextual factors. The study identified traits and characteristics such as initiative, excellence, honesty, patience, knowledge, ethics, social responsibility, and customer orientation having a robust relationship with the manifestation of opportunity exploration and opportunity exploitation when individuals adhere to Islamic values system during the business venturing. Though, personality research in the field of Entrepreneurship is criticized, however, religion as a contextual variable shapes personality towards the way how Entrepreneurship is practiced. The study is concluded with the limitation and future lines of inquiry.