Independent Start-up Research Articles

Resource-Based View Theory to Achieve a Sustainable Competitive Advantage of the Firm: Systematic Literature Review

The Resource-Based View (RBV) Theory explains the importance of VRIN/O resources and characteristics for achieving the sustainable competitive advantage. The purpose of this SLR is to analyze the role of RBV in the process of achieving SCA, especially in the supply chain and customer information field, as well as the role of RBV in previous research and for independent startup companies. This Systematic Literature Review (SLR) was created based on previous research that was collected and analyzed to obtain facts that support the current research findings. Data collection was carried out using the literature review method by classifying and eliminating data sources that did not meet certain indices, which then resulted in the finding that the RBV Theory plays a role in the supply chain in forming SCA by creating VRIN/O resources, namely maintaining good relationships with suppliers and then deploying and using resources. power properly. In addition, customer information can be a resource in VRIN/O, which is expected to increase and maintain customer loyalty, which is part of a sustainable competitive advantage. Based on previous research, RBV is not suitable for application in operations management research and startups. However, it encourages entrepreneurs to be more creative in managing their limited resources. Efforts have been made to write and collect facts in this SLR as much as possible, but like research in general, this SLR cannot be free from the limitations of dependence on actualization of previously collected data sources.

Mega Mido

From independent start-up brands to giants of the optical industry, Andrew McCarthy-McClean heads to Milan to explore the largest European trade show

Reviewing the process intensification landscape through the introduction of a novel, multitiered classification for downstream processing.

A demand for process intensification in biomanufacturing has increased over the past decade due to the ever-expanding market for biopharmaceuticals. This is largely driven by factors such as a surge in biosimilars as patents expire, an aging population, and a rise in chronic diseases. With these market demands, pressure upon biomanufacturers to produce quality products with rapid turnaround escalates proportionally. Process intensification in biomanufacturing has been well received and accepted across industry based on the demonstration of its benefits of improved productivity and efficiency, while also reducing the cost of goods. However, while these benefits have been shown empirically, the challenges of adopting process intensification into industry remain, from smaller independent start-up to big pharma. Traditionally, moving from batch to a process intensification scheme has been viewed as an "all or nothing" approach involving continuous bioprocessing, in which the factors of complexity and significant capital costs hinder its adoption. In addition, the literature is crowded with a variety of terms used to describe process intensification (continuous, periodic counter-current, connected, intensified, steady-state, etc.). Often, these terms are used inappropriately or as synonyms, which generates confusion in the field. Through a detailed review of current state-of-the-art systems, consumables, and process intensification case studies, we herein propose a defined approach in the implementation of downstream process intensification through a standardized nomenclature and viewing it as distinct independent levels. These can function separately as intensified single-unit operations or be built upon by integration with other process steps allowing for simple, incremental, cost-effective implementation of process intensification in the manufacturing of biopharmaceuticals.

Concept of an efficient self-startup voltage converter with dynamic maximum power point tracking for microscale thermoelectric generators

Microscale Thermoelectric Generators (microTEGs) have a high application potential for energy harvesting for autonomous microsystems. In contrast to conventional thermoelectric generators, microTEGs can only supply small output-voltages. Therefore, voltage converters are required to provide supply-voltages that are sufficiently high to power microelectronics. However, for high conversion efficiency, voltage converters need to be optimized for the limited input voltage range and the typically high internal resistance of microTEGs. To overcome the limitations of conventional voltage converters we present an optimized self-startup voltage converter with dynamic maximum power point tracking. The performance potential of our concept is theoretically and experimentally analyzed. The voltage conversion interface demonstrates energy harvesting from open-circuit voltages as low as 30.7 mV, and enables independent and full start-up from 131 mV. No additional external power supply is required at any time during operation. It can be operated with a wide range of internal resistances from 20.6 to − 4 kΩ with a conversation efficiency between η = 68–79%.

Reconstruction and modernization of industrial parks

The construction of the industrial park is organized in accordance with the program management method, which identifies independent startup industrial and construction complexes that determine the order in which preparatory and basic works are carried out, the calendar construction timeframe and the sequence for entering construction queues taking into account the timely supply of equipment and structures, regulatory requirements for material and labor resources, as well as means of mechanization. In the organizational form of reproduction, carried out during the reconstruction of the industrial real estate of the park, surveys are conducted on the technical condition of the structures, intrasurface and intrasite vehicles and communications, equipment and engineering networks, production conditions and construction and installation works. The article presents an example of assessing economic efficiency of the business plan for organizing the construction of an oil pipeline, which is part of an industrial (industrial) park, in the section from 1569 to 1978 km in the Mari Republic and the southern part of Kirov Oblast, with natural borders from r. Vyatka to r. Vetluga diameter of the pipeline is 1020 mm.

Minority Entrepreneurship and Alternative Opportunities Inside Established Organizations

Whereas prior research has documented persistent inequality in entrepreneurial performance between African American and White entrepreneurs, less attention has been devoted to investigating whether and how racial minorities cope with such obstacles. In this study, we propose and empirically document one such adaptation strategy: the pursuit of a new venture through intrapreneurship –or within employer organizations. Analyzing a representative sample of entrepreneurs in the United States from the Panel Study of Entrepreneurial Dynamics II, we found that, relative to Whites, African Americans are more likely to found new businesses through intrapreneurship than through entrepreneurship. We further show that, individuals from disadvantaged groups are more likely to seek funding to start a new business from employers than marketplace investors. Consistent with the notion that employer firms provide more support to minorities than do investors in the market, we find lesser disparities across minorities and non-minorities in accumulation of entrepreneurial resources internally. Our findings also suggest that minorities are more motivated to grow new ventures, when exploiting these new businesses within an employer organization than through an independent startup. Finally, our results lend support to the notion that intrapreneurship offers a substitute for entrepreneurship: we find that the tendency to pursue internal ventures is amplified when opportunities for startups are scarce, and when minorities perceive other venues of advancement as inferior to intrapreneurship. More generally, the study illuminates a novel adaptation strategy to address barriers that minorities face within an entrepreneurial setting.

Accelerating strategic fit or venture emergence: Different paths adopted by corporate accelerators

Corporate accelerators (CAs) are a fast-emerging form of corporate engagement with startups. Equating them with independent startup accelerators and/or corporate venturing limits our understanding of how and why corporations run CA programs and to what end. In this inductive grounded theory study, we explore how corporations design and run CAs and to what effect. This study of four CAs reveals that corporations manage accelerators via one of two distinct processes: namely, accelerating strategic fit or accelerating venture emergence. Our inductive models of these corporate acceleration processes provide new insights into how CAs operate within corporations. Strategic posture and investment time horizon influence corporations' choice of acceleration path and their identification of potential ventures for acceleration. Our study deconstructs what comprises the core corporate acceleration processes and explains how the two pathways result in distinct outcomes—nurturing innovations or nurturing ecosystems. We believe these findings can open up rich research opportunities for understanding how corporations engage with entrepreneurial ventures to enhance their entrepreneurialness.

Structural overlap and the management of cultural marginality: The case of Calvinist hip-hop

This study explains four ways cultural marginality is managed when it comes to the issue of cultural production, both by the producers themselves and by field-specific cultural authorities. To do so, it revives the pre-war concepts of ‘the marginal man’ and ‘marginal culture’ and reframes them in terms of overlapping social structures. As a case of this general phenomenon, this project investigates the public discourse and performances of 22 Calvinist hip-hop artists affiliated with five independent start-up record labels, showing how they navigate their place on the margins of both mainstream American hip-hop and their conservative religious movement. The findings specify four mechanisms for the management of marginality. The first two pertain to the ways cultural authorities approach marginal artists as object, namely: authorities function as gatekeepers who grant moral acceptability upon the marginal product and who conspicuously display the marginal product and its producers to demonstrate their own commitments to diversity and inclusion. The second two mechanisms speak to the ways marginal artists, as subjects, manage their own marginality, namely: these artists draw symbolic boundaries to avoid being pigeonholed and they insist upon the unity of their self-understandings to foster authenticity. The article ends by discussing how this work contributes to the sociology of religion, sociological theory and cultural sociology.

Performance measurement and KPIs for remanufacturing

The paper provides a brief background to remanufacturing and the general use of Performance Measurement and Key Performance Indicators (KPIs) before introducing selected and newly formulated KPIs designed specifically for remanufacturing. Their relationships with the remanufacturing challenges faced by two contrasting remanufacturing businesses and the wider reman industry are described in detail. Subsets of KPIs forming a ‘Balanced Scorecard’ for each of the two remanufacturing cases conclude the paper. They arise through close working with Centro Ricerche FIAT (CRF) and SKF, and are triangulated by literature review and wider expert interviews. The two businesses represent contrasting remanufacturing scenarios: well-established high-volume low-margin automotive engine remanufacturing by the OEM ( >1000 units per year, < €10 k per unit) verses low-volume high-value wind turbine gearbox reman by an independent start-up ( < 100 units per year, > €100 k per unit). The 10 general production engineering KPIs selected for the reman KPI toolbox are as follows: Work In Progress (WIP), Overall Equipment Effectiveness (OEE), Lead Time (LT), Cycle Time (CT), Hours Per Unit (HPU), Product Margin (PM), Quotation Accuracy (QA), Number of Concessions (NC), Number of managed mBOMs (BOM), and Personnel Saturation (PS). The Eco KPIs selected are: Material Used (MU), Recycled Material Used (RMU), Direct Energy Consumption (ECD), Indirect Energy Consumption (ECI), Water Withdrawal (WW), Green House Gas emissions (GHG), Total Waste (TW) by weight. The 8 Remanufacturing KPIs compiled and formulated as part of this research are: Core / Product Ratio (CPR), Core / Product Value Ratio (CPV), New Component Costs (NCC), Component Salvage Rate (SRC), Product Salvage Rate (SRP), Core Disposal Rate (CDR), Core Class Accuracy (CCA), and Core Class Distribution (CCD).

Improving ADM1 model to simulate anaerobic digestion start-up with inhibition phase based on cattle slurry

The Anaerobic Digestion Model No.1 (ADM1) was improved to simulate an anaerobic digestion start-up phase. To improve the ADM1, a combined hydrolysis equation was used based on the Contois model of bacterial growth and the function of hydrolysis inhibition by VFA. The start-up with fresh cattle slurry was carried out in a pilot-scale reactor to calibrate the chosen parameters of the ADM1. The important aspects of model calibration were hydrolysis rate, the number of anaerobic microbes in cattle slurry, and the growth rate of bacteria. Good simulation results were achieved after calibration for the independent start-up test with pre-conditioned cattle slurry.

How the FCC Can Preserve the Open Internet &amp; Net Neutrality Through Title II Reclassification

The case for reclassifying broadband internet access under Title II, and adopting rules that protect the Open Internet and ensure net neutrality. Introduction & Background: The recent 2014 Notice of Proposed Rulemaking regarding Net Neutrality represents an opportunity for the Federal Communications Commission to choose a communications future of innovation, creative exchange, and consumer choice, rather than one where powerful companies can alter the Internet to support entrenched business models. The Commission was certainly correct when it stated that the Internet is “America’s most important platform for economic growth, innovation, competition, free expression, and broadband investment and deployment.” As a non-profit organization focused on providing free and low-cost legal assistance to independent creators, internet users, and start-up entrepreneurs (such as musicians, artists, filmmakers, mobile app developers, and more), New Media Rights (“NMR”) is reminded daily of the innumerable benefits the Internet can provide to American innovators, creators, and consumers. As the Commission suggests, these benefits largely flow from the open architecture of the Internet and its low barriers to entry. However, in recent years this openness has been challenged by fixed and mobile broadband internet access providers. We stand at a fork in the road, and if the Commission cannot implement strong, certain, and legally defensible rules to maintain the basic tenants of Net Neutrality (Transparency, No Blocking, No Discrimination), the trend away from an Open Internet is likely to continue to the detriment of not only American consumers and innovators, but American society as a whole.

Factors that Influence Student's Decision in Starting-up Service Franchise Business in Bandung

Abstract Starting a whole new business often seems to be too risky. There are too many uncertainties pertaining to the amount of capital required, the sales revenue potentially generated and the right management style required to achieve success. Franchise business, with an already well-established systems and operating procedures, provides a way for new entrepreneurs to invest in a more forecastable and profitable future. At the macro level, franchise business is like a vehicle driving the lifestyle and income of a population in the right direction for long term economics growth. Indonesia, being the one of the largest economies in Asia, offers excellent market potential for franchising. Having an adequate and proven systems already in place, franchise business is perceived as an appropriate stepping stone for building sustainable business environment in Indonesia. The allure of starting a franchise business in mitigating the uncertainties faced by an independent start-up to a large extent, therefore, is worth its weight in gold. This research aims to develop the know-how of starting-up effective franchise business to penetrate Indonesian market. The study hopes to establish a comprehensive guide for the increasing number of aspiring entrepreneurs to boost their confidence in starting up service franchise business in Bandung. This research uses both qualitative and quantitative research method. Through quantitative research, the author collected data through several surveys and questionnaires which were distributed among 100 business management students from several universities in Bandung such as Institute Technology Bandung, Parahyangan Catholic University, Padjajaran University, and Maranatha Christian University. Subsequently, qualitative research was also conducted to clarify ambiguous situations or discover ideas that may generate potentially-profitable business opportunities. Common data collection methods used in this qualitative research includes in-depth interview with related franchisor in the service industry. Researcher performed pre-test analysis to the data collected to ensure the constructs’ validity and reliability. Data were then analyzed, computed and presented in various simplified forms (writing, graphics, tables, and numbers) for easy comprehension and interpretation. Our conclusion is that with adequate systems of franchise business already in place, it provides a suitable platform for the students to embark on their entrepreneurial journey. Purchasing a franchise business license is one common option. However, a substantial amount of attention has to be given to the franchise mechanism model i.e. factors such as: costs, controls, and termination/renewals of contracts. In the process of selecting the right franchise business, substantiate knowledge and careful review of the franchise agreement is of critical importance to prevent mislead and confusion. This paper will highlight and discuss these issues in further details.

Exploiting model driven technology: a tale of two startups

This article describes the experiences of two independent start-up companies that were created in the white-heat of the early days of model-based engineering. Each company aimed to revolutionise software development by raising the level of abstraction through modelling. The article describes the context, technical innovations, business experiences, demise and lessons learned by each company.

Reciprocal Buying of Intermeidate Goods among Vertically Integrated Firms: The case of Cable TV Industry

Using a dataset of carriage decisions by 943 cable systems for 22 start-up basic cable networks, this study tests the reciprocal carriage hypothesis: the theory that multiple cable television system operators (MSOs) tacitly collude to carry each others' vertically integrated cable networks. The research supports the reciprocal carriage hypothesis by finding that: (1) A vertically integrated MSO is more likely than a non-vertically integrated MSO to carry the start-up basic cable networks of other MSOs; and, (2) a vertically integrated MSO is no more likely than a non-vertically integrated MSO to carry independent start-up basic cable networks. These results make credible an underlying premise of a 30 percent national market share limit that the Federal Communication Commission established in 1993: namely, that MSOs may tacitly collude in their carriage decisions, having the effect of restricting market access to startup cable networks in which those MSOs have no ownership interest. The study suggests the difficulty of the entry and growth of non-vertically integrated independent start-up cable networks. More generally, this study suggests circumstances under which vertically integrated firms may tacitly collude to reciprocally buy each others' intermediate goods.

HOW CORPORATE ENTREPRENEURS THINK: COGNITION, CONTEXT, AND ENTREPRENEURIAL SCRIPTS.

Research in the entrepreneurial cognition domain has demonstrated that, regardless of nationality and culture, entrepreneurs tend to draw from similar sets of mental scripts when considering whether to start a new venture. A parallel line of research suggests that corporate entrepreneurs, those individuals charged with creating new ventures within established corporations, think and act differently than entrepreneurs who are involved in independent startup operations. This article integrates these two perspectives by constructing a theoretical framework for explaining why differences in context lead to the development and use of different mental scripts for developing, an internal, corporate venture as compared to those needed for launching and growing an independent startup. Important implications regarding the relationship between context and entrepreneurial cognition are outlined for researchers, entrepreneurs and practicing managers; and perhaps most importantly, for educators teaching entrepreneurship within the corporate environment.

A New Venture's Cognitive Legitimacy: An Assessment by Customers

Many legitimacy problems associated with new ventures appear to stem from a lack of customers’ knowledge and understanding of the new venture. Of particular concern to entrepreneurs is cognitive legitimacy. The findings of this article suggest that customers appear to have a preference for greater rather than lesser information about a new venture's product, organization, and management (holding the content of that information constant). Furthermore, customers appear to use a contingent decision policy. For an independent startup business that is perceived as new on all three dimensions, priority should be given to building customer knowledge in the product, followed by building customer knowledge in the organization. Less attention should be given to building the customer's knowledge in the management team, although such actions still will build cognitive legitimacy.

Lot-Sizing with Start-Up Times

Many practical applications of lot-sizing and scheduling problems involve start-up times. Operations research literature contains but few studies of lot-sizing models that take start-up times explicitly into account. Here, we review some of these studies, discuss the models and their complexity, and we propose further models. We consider in particular a single-stage single-mode multi-item lot-sizing model with continuous set-ups and sequence independent start-up times, which we solve using an integer programming column generation algorithm and we develop a dynamic programming procedure for the single-item subproblem that treats the initial stock as a decision variable. We also use cutting planes developed by Constantino for the multi-item polyhedra. By combining column and cut generation, the lower bounds that we obtain before branching are on average less than 2% from an optimal solution. Our algorithm solves instances with 3 to 5 items and 24 periods in an average of 50 seconds on a modern workstation, and problems with 36 periods in an average of 750 seconds. Solutions guaranteed to be within 2% of optimality are obtained in less than 75% of these times.

Survival patterns among newcomers to franchising

This study examines survival patterns among franchisee and nonfranchise small firms and establishments that entered business during 1986 and 1987. Aspiring entrepreneurs purchasing franchises choose this path to small business entry, in part, because they expect to improve their chances of survival during the turbulent early years of operation. Evidence to date has been mixed: some studies conclude that franchising is a low-risk route to small business ownership, while others suggest that independent start-ups are more likely to remain in operation than franchises. This study utilizes two distinct methodological approaches to investigate franchisee survival patterns. The first approach demonstrates that franchise units have better survival prospects than independents, and the second approach demonstrates that young firms formed without the benefit of a franchisor parent are more likely to remain in operation than franchised start-ups. Reconciliation of these seemingly inconsistent findings is explored. Survival measurement is heavily influenced by the unit of analysis in franchising. Firm-specific data show different patterns than establishment-specific data when young franchise units are tracked through time. Analysis of establishments owned by corporations is undertaken for restaurants opened nationwide in 1986 and 1987. Using Census Bureau data describing corporate-owned restaurant establishments that reported payroll to the IRS in 1987, 52,088 young establishments were identified; 22.5% were franchises. Comparison of the franchisee and independent restaurant units indicated that independents were more likely to cease operations by 1988 than franchises. The fact that franchisee establishments had a better survival track record than independent restaurants does not, however, demonstrate that aspiring entrepreneurs improve their survival prospects by purchasing a franchise. In fact, 84% of the new franchise establishments under consideration were units of multi-establishment corporations, and few of these corporate parents were new businesses. Envision a corporation in operation for 15 years that owns 20 McDonalds restaurants; in 1987 they opened their twenty-first unit. The findings of this study indicate that this twenty-first unit has excellent survival prospects, more so than either an independent start-up or a franchisee opening a restaurant for the first time. New franchised restaurant units, overall, may be a safe investment, although simultaneously, the newcomer opening a franchise may face a high-risk situation. The analysis then shifts from establishments owned by franchisees to young firms (not establishments) started in 1986 and 1987 as proprietorships, partnerships, or S-corporations. Among these young firms, franchisees are found to have lower survival rates than independent start-ups, and these differences persist when various firm and owner traits are controlled for statistically. Retailing is found to be a particularly difficult field for young franchised firms: risk of firm closure is high and mean profits are negative. The most common route into retailing entailed purchasing an operating franchise unit from its previous owner, that is, an ongoing franchise. Over 53% of the young franchised retailing firms started in 1986 and 1987 were ongoing operations. By 1991, only 52.4% of these firms were still operating with the owner of record present in 1987. The findings of this study indicate, on balance, that purchase of a franchise is unlikely to reduce the risks facing a new business start-up. This does not imply that the multi-establishment franchisee adding another new franchise unit to its existing chain of operations faces a high-risk situation. Rather, the high risk facing the franchisee newcomer is partially rooted in the fact that so many of the newly-opened units in mature franchising niches are owned by multi-unit franchisees that have greater experience and resources than newcomers who are attempting to enter the industry.

Emerging high-tech firms: How durable are their comparative start-up advantages?

Successful high-tech entrepreneurial firms have been shown to have several common founder characteristics and start-up conditions. This paper presents a study of the duration of the effect of these characteristics and conditions on a firm's early growth: do they have a permanent effect or does the early comparative advantage that they confer to the firm fade away after a few years, successful firms being better able to adapt to changing conditions than the others? The study is based on the longitudinal analysis of the first 8 years of operations of 73 high-tech firms located in various parts of Canada, founded between 1965 and 1980, by one or several entrepreneurs in microelectronics, communications, and related fields. The sample includes only “survivors” and “manufacturers,” all the firms being still active and doing some manufacturing at data collection time. In terms of firm size, start-up capital, and sources of financing, this sample is comparable to other samples of high-tech start-ups described in the literature and can therefore be assumed to be representative of the industry. The importance of the government sector in Canada resulted in a very high “government orientation” of the firms at start-up (an average 32% of first year sales being to the public sector); similar market and firm behaviors may develop in other industrial economies, some having very important government sectors (e.g., France, Italy), or high-tech markets indirectly driven by governments (through major defense and space contractors in the United States). The analysis confirms the positive short- and medium-term impact of such start-up characteristics as initial size; start-up capital; past experience in marketing, finance, and government contracting; founder's age; market structure; and similarity with the market served by a previous employer. However, except for initial size (sales), initial government orientation (percentage sales to the public sector, year I), and previous experience in government contracting, which tend to be excellent predictors of medium-to long-term “success” (measured in terms of sales level), other start-up characteristics show only short-term direct effects: 3 years for past experience in marketing and finance, 1 to 2 years for market structure and similarity of the market served with that of a previous employer. They are, however, indirectly related to success through their effect on initial size and government orientation. Past experience in government contracting is strongly linked with initial government orientation whereas initial size and initial government orientation are independent of each other. Initial size and initial government orientation are therefore two independent start-up traits that show the longest global direct effect on sales level (8 years, the time horizon of this study). When regrouping firms by initial size and government orientation, other “long-term” (at least 8 years) effects appear: for all the firms, size of the previous employer and similarity of technology with that of a previous employer; for smaller start-ups, similarity of their market with that of a previous employer; for government-oriented firms, amount of start-up capital, past government employment, past experience in R&D and in government contracting (positive effects), and level of control retained by the founders and lack of external capital (negative effects); and for non-government-oriented firms, past government employment and past R&D experience. From a practical point of view, these results illustrate the importance of start-up conditions: behaviors and strategies can evolve as a firm matures, but some initial characteristics seem to be clearly associated with sustained comparative advantage, either because they lead to larger initial size or good government contracts, or because they impact on the general orientation and strategy of the firm. Considering these start-up conditions is therefore useful to the entrepreneur when planning a start-up, to the venture capitalist when analyzing a start-up, and to the public sector planner when developing support policies.

EFFECT OF INITIAL MARKETING AND R&amp;D ORIENTATIONS ON HIGH-TECH ENTREPRENEURIAL START-UPS

ABSTRACT Past studies have shown that joint R&D and marketing strategies contribute to the success of established high-tech firms. This study analyses the initial marketing and R&D orientations of emerging Canadian high-tech entrepreneurial firms and focuses on their complementarity and effect on early growth. It is based on the analysis of the behaviour of 68 Canadian high-tech entrepreneurial firms of the microelectronics and communications sectors. General information on their operations was first obtained in 1985/86. Data collection was subsequently updated in 1988 to provide a better insight into specific marketing activities. The data suggest that marketing orientation and R&D orientation are two independent start-up attributes which, globally, lead to similar rates of growth and that firms with these attributes have many characteristics in common. Combinations of these start-up attributes, however, seems to lead to different rates of growth and characteristics, large start-ups with both initial mar...