Innovative Business Activities Research Articles

Social Determinants of Conducting Innovative Business Activity in the Opinion of the Inhabitants of the Silesian Voivodeship (Poland)

Abstract This article analyzes the results of social research on the determinants of decision-making in the field of running a business – especially the innovative one. The research was conducted on a sample of 400 inhabitants of the Silesian Voivodeship (Poland). The region of the Silesian Voivodeship is, in this respect, a specific region in Poland - highly urbanized, industrialized with a rich communication and transport infrastructure. The analyzed research was based on the results of a survey conducted using a questionnaire based on selected socio-demographic characteristics, considering the current distribution characterizing the inhabitants of the Silesian Voivodeship. Supporting factors and areas of expected support in starting a business activity were identified, as well as factors limiting the interest and readiness to start such activity. The results indicate that the main obstacles are the lack of financial support for starting, fear of risk, lack of access to information on the possibilities of financial support, frequent changes in legal regulations, lack of updating knowledge regarding the possibilities of financing and starting a business, lack of support in strengthening skills. in managing all areas of management of micro, small and medium-sized enterprises. An interesting result with a sociological dimension is the support of family and relatives in terms of motivation to start a business.

Does Trade Openness Affect Global Entrepreneurship Development? Evidence from BRICS Countries

Emerging nations focus more on new and innovative business activities across national borders for economic advancement. Further, trade openness has recently emerged in BRICS countries. Thus, global entrepreneurship development can be a great opportunity for the traded open countries. In line with this, the study aims to examine the impact of trade openness on global entrepreneurship development in BRICS countries. The study collected balanced-panel data from BRICS countries for 2001–2020 and applied random-effects estimation to analyze the data. The study drives a cross-sectional dependence test, unit root test, and model specification test before applying the estimated model. The study further checked the robustness of the findings by alternative estimation methods like FMOLS and DOLS and found similar results. The results revealed that trade openness positively influences global entrepreneurship development, but average tariffs can discourage entrepreneurs. Specifically, trade openness through trade spread, trade freedom, and average tariffs increase the total early-stage entrepreneurial activities and entrepreneurial intentions rate in BRICS countries. Through cross-country analysis, the study found that trade openness significantly enhances global entrepreneurship development in Brazil, India, China, and South Africa rather than in Russia. The study found similar results after checking the robustness of the findings by alternative estimation methods like FMOLS and DOLS. Thus, the findings could be a great insight for the policymakers of BRICS countries. Governments, academics, international entrepreneurs, etc., can use the findings in future decisions as a policy dialogue.

Barriers and Drivers of Sustainable Business Model Innovation: Present and Future Research Perspectives

Sustainable business model innovation (SBMI) introduced a unique frontier in current business operations and innovation management. Despite the numerous advantages of SBMI to contemporary business strategy, most established firms face challenges in its successful implementation. Through a systematic review process (SRP), the paper attempted to critically evaluate and analyze the previous outcome on the barriers and drivers to SBMI. The research explored 42 prior studies to identify the thematic study areas, highlight the research gaps, and outline future propositions and agendas. The research thoroughly evaluates the state-of-the-art regarding barriers and drivers to implement SBMI. The SRP approach utilized in the study sheds light on the intricacies of SBMI by highlighting six critical barriers: institutional, organizational, strategic, resource allocation, technological, and financial barriers that hinder the successful deployment of SBMI. In addition, the study’s findings indicated that organizational learning, knowledge management, dynamic capabilities resource mobilization, innovative business activities, and human resource development could be a catalyst to the successful implementation of SBMI. Furthermore, the study highlighted some critical gaps and agendas for future research on SBMI. This study contributes to the literature on business model innovation and offers a practical outlook that can facilitate firms and policymakers in developing strategies to improve their business model.

Reframing innovation: A case of split personality

The meaning and definition of innovation are vague and multi-faceted, measured by a combination of 81 variables by the Global Innovation Index—GII, challenging policy makers in the conception of appropriate economic development strategies. Based on extensive research on the relationships between the variables, this study presents and tests a simple analytical model that considers innovation as two separate and not necessarily connected themes: the creation of knowledge and the concrete implementation of innovation activities (endogenous variables), each influenced by separate ecosystem factors: “innovation initiators” and enabling factors (exogenous variables). This model facilitates the analysis of the question to which extent an innovation process requires policy measures oriented to knowledge creation.The relationships were tested by conducting regression analysis with data on 81 variables across 132 economies based on the GII for 2021. The results supported the viability of the model. An important finding was the relatively low impact of knowledge creation on innovative outputs within the country (such as the production of new products), whereas the focus was mostly on the export of knowledge (as measured by intellectual property receipts). Another finding was the importance of the technology absorption capacity and availability of local skills for a country’s innovative business activity, independent of pure knowledge creation activity.The model has implications for the development of innovation policies under specific conditions in an economy. Prevailing ecosystem exogenous conditions and the potential for changes within them may lead to the optimization of innovation activity by focusing on technological advancement, which need not be conducive to new production (contrary to prevailing beliefs). Conditions in other economies or regions may justify policies focused on the development of innovative products or creation of new organizational models rather than on support for technological startups.

FAKTOR-FAKTOR YANG MEMPENGARUHI INTENSI BERWIRAUSAHA KARYAWAN HOTEL KECAMATAN KUTA SELATAN

Entrepreneurial intention is a person's motivation to create new and innovative business activities through their abilities. Initial research results based on interviews with 4 hotel employees in South Kuta District who were laid off during the Covid-19 pandemic stated that they did not have a business idea, were unsure of their own abilities in entrepreneurship, and were not interested in a career as an entrepreneur. This research was conducted on hotel employees in South Kuta District who were laid off during the Covid-19 pandemic, which consisted of 82 men and 51 women, most of whom were aged 26-31 years, had a final D3 education, the field of science studied, namely tourism, and had a bachelor's degree in tourism. 1-4 years of service. The number of samples in this study were 133 respondents. The sampling technique is non-probability sampling. Data collection was obtained from the results of distributing questionnaires directly and online to respondents using google form. Data analysis in this study used multiple linear regression analysis. The results of this study indicate that attitude towards entrepreneurship, subjective norms and perceived behavioral control have a positive and significant effect on respondents' entrepreneurial intentions.

Entrepreneurial activity, intrapreneurship, and conducive institutions: Is there a connection?

Considering the context-embedded nature of entrepreneurship, existing literature emphasizes a strong link between country-level conducive institutional dimension (a facet of the entrepreneurial environment facilitating high-impact innovative business activity) and individual entrepreneurial behavior. We theorize that a vital mechanism linking conducive institutional arrangements to independent entrepreneurship is intrapreneurship within a corporate environment, which provides an individual with a combination of entrepreneurial and industry-specific skills and knowledge. Empirical results, based on a sample of 173,630 individuals in GEM data, reveal that intrapreneurial experience acts as a significant mediator in conducive institutions-entrepreneurial intentions and activity relationships. At the same time, after accounting for the intrapreneurship path, the conducive dimension has a negative residual impact on individual entrepreneurship, suggesting that in itself, it creates high opportunity costs of starting new firms versus working for already established companies.

The role of high-risk funds in financing innovative ventures in Poland

The phenomenon of a capital gap is a problem faced mainly by young, innovative enterprises. Due to running high-risk business activities, access to traditional financing is limited for them. This is why they seek alternative sources of financing. The paper attempts to answer the question of whether financing business activity by high-risk funds and by public capital is a good solution to support innovation. The paper shows the special role of financing ventures with high development potential, particularly those innovative ones, by means of high-risk capital. The article also describes the essence of private equity/venture capital operations and the principles of the activity of the Polish Development Fund (Polski Fundusz Rozwoju), noting PFR Ventures. The paper is based on rich literature, both in Polish and English, which includes results of several studies indicating the relationship between the use of risk capital and innovative business activity. The applied research method was based on a literature review, on the grounds of which the essence of the problem of financing innovative projects was indicated.

Crowdfunding as a modern direction of business angel investing in Ukraine

The article is devoted to the problem of regulating the accumulation of business angel investments for the implementation of innovative startup projects by small and medium enterprises and the issues of their legal regulation, namely the creation of affordable and effective legal means of venture capital. It is believed that the domestic legislator should pay special attention to crowdfunding.
 The purpose of the article is to analyze the opportunities for the development of crowdfunding in Ukraine as a modern direction of business angel investment in innovative business activities.
 The recommendations and strategies of the world's business angels are useful for practical work on the study of attracting venture capital. However, problematic aspects of crowdfunding have not yet been covered in the domestic legal scientific literature.
 The article considers the application of the possibilities of civil legal regulation of crowdfunding development in Ukraine. The specifics of crowdfunding for attracting investments from voluntary individual venture investors via the Internet have been studied. Leading foreign experience is analyzed and features and obstacles of application in domestic conditions are defined.
 It is seen that properly organized crowdfunding platforms by private venture investors at both legislative and administrative levels will be a significant achievement in supporting small and medium enterprises innovation, provided: 1) consolidation of the individual venture investors’ legal status at the legislative level; 2) the availability of open online platforms with an easy way to find them on the Internet; 3) regulation of the online platform crowdfunding participants’ interaction within the existing contractual structures provided by the Central Committee of Ukraine, duly designed and posted on the platform's website.

The Effect of Company Characteristics and Sales Growth on Sustainability Report

The sustainability of manufacturing companies is still an issue for innovative business activities in meeting the needs of future generations. The problem that becomes the urgency of this research is that return on assets, leverage, and sales growth affects the sustainability report. For this reason, quantitative research with multiple regression analysis is carried out for testing and examining the effect of company characteristics and sales growth on the sustainability report. The data used in this study is secondary data in the form of financial statements of each sample company, namely manufacturing companies that have been audited to be reported to the Indonesia Stock Exchange (IDX) from 2015-2019. Measurements in company characteristics are measured by return on assets (ROA), Leverage, and company growth. The Technology Readiness Level (TKT) is a proof-of-concept of important analytical and experimental functions and/or characteristics. The output of this research design is an international journal.
 In this study, the results show that profitability and sales growth have a significant effect on the sustainability report and company size has no significant effect on the sustainability report.

Performing innovative business activity in sport in the Polish regulatory system

Innovation is widely recognized as necessary feature of progress in various areas of economy. It has also been supported by the EU and its Member States, including Poland. However, in the sport industry it has been visibly less exploited so far to achieve a market value. Literature quoted, hard and soft law documents legal analysis have been analyzed. Results: Although there are many existing examples of innovation provided by sport entrepreneurs, the regulatory system, by unclear regulations related to the most profitable kinds of innovation in sport, does not provide them equal stimulus as in other trade sectors. ‪This study shows lack of sufficient regulatory support to innovation in sport commercial activity in Poland.

Инновационная активность бизнеса в процессе реализации модели «тройной спирали» Генри Ицковича

Инновационная активность бизнеса в процессе реализации модели «тройной спирали» Генри Ицковича

Инновации на службе устойчивого развития развивающихся экономик

Innovation processes do not have the same features through the lens of employed capital and the results obtained, but differ in level depending on the type of innovation, the size of the company, the strategy and its experience in the field of innovation. A variety of processes innovation innovations create difficulties in analyzing the costs and results of innovation using micro-aggregated data. As a result, the study of innovative business activity is focused on the facilitators of innovation and their influence through the competitive advantages of an enterprise by sector or economy as a whole.

Inspired or Foolhardy: Sensemaking, Confidence and Entrepreneurs\u2019 Decision-Making

The purpose of this paper is to investigate the role of confidence in how both new and experienced entrepreneurs interpret and make sense of their business environment to inform decision-making. We illustrate our conceptual arguments with descriptive results from a large-scale (n = 6289) survey on entrepreneurs’ perception of business performance and their decisions taken at a time of uncertainty in an economic downturn. Quantitative findings are stratified along experiential lines to explore heterogeneity in entrepreneurial decision-making and directly inform our conceptual arguments, while qualitative data from open questions are used to explain the role of confidence. Newer entrepreneurs are found to be more optimistic in the face of environmental risk, which impacts on their decision-making and innovative capabilities. However, the more experienced entrepreneurs warily maintain margin and restructure to adapt to environmental changes. Instead of looking directly at the confidence of individuals, we show how confidence impacts sensemaking, and ultimately, decision-making. These insights inform research on the behaviour of novice and experienced entrepreneurs in relation to innovative business activities. Specifically, blanket assumptions on the role of confidence may be misplaced as its impact changes with experience to alter how entrepreneurs make sense of their environment.

РАЗВИТИЕ ИННОВАЦИОННОГО СЕКТОРА РЕГИОНА КАК УСЛОВИЕ ФОРМИРОВАНИЯ ИНФОРМАЦИОННОЙ ЭКОНОМИКИ В ЭКОНОМИЧЕСКОМ ПРОСТРАНСТВЕ РФ

The article analyzes the region’s innovative sector in terms of basic resources that create conditions for innovative business activities; special attention is paid to complete nature of material, human and organizational resources, information sphere of entrepreneurship. The necessity of the conjoint analysis of resources and results at the stage of the region’s innovative development and the formation of the information economy is substantiated, which ensures the identification of constraints, deviations in the growth rates, problem areas hampering the acceleration of the regional economy. The authors propose a methodology for analyzing the innovative sector in the region that allows assessing the status and dynamics of the region's resource supply, comparing regions of the Russian Federation with identical industrial specialization, determining prospective and unused reserves, revealing comparative economic advantages and the impact that the results of innovative sector's development have on the economy of the constituents of the Russian Federation. The use of indicators of dynamics, structure, and the scale in “resources-results” coordinates makes it possible to comprehensively present the development of innovative processes and innovative infrastructure of the region at the stage of transition to the digital economy. The proposed methodical approaches, (tested on the example of the Chelyabinsk region) create an information and analytical basis for rapid adaptation of regional economic policy to a new economic reality. Methodical provisions and theoretical conclusions allow the state authorities of the region to make informed decisions in the process of managing the development of the region’s innovative sector.

Sources of financing for innovative business activities in Poland

Financing of innovative business activities at early stages of their development is an extremely important condition of their growth. Start-ups, facing limited access to the formal capital market, look for an alternative. This is the informal market of capital investors, venture capital funds, and increasingly popular crowdfunding. It is the objective of this paper to analyse and evaluate sources of financing for innovative start-ups.

Синдицированное кредитование в перечне правовых механизмов развития инновационной предпринимательской деятельности

Синдицированное кредитование в перечне правовых механизмов развития инновационной предпринимательской деятельности

ГОТОВНОСТЬ К ИННОВАЦИОННОЙ ПРЕДПРИНИМАТЕЛЬСКОЙ ДЕЯТЕЛЬНОСТИ У МОЛОДЕЖИ МАЛЫХ ГОРОДОВ РОССИИ

The effective development of the small cities of Russia is required as an important link in the national economy. The defining condition of such development is the activation of innovative business activity at various levels. However, the results of sociological research convincingly testify that small cities are not provided in due measure with the qualified personnel capable of initiating or actively joining in innovative business activity. In this regard research in the designated area is necessary, important and timely. In the article the essence of the concept “readiness for innovative business activity” is elucidated as the activity of the specialist in the production and realization of innovations, undertaken for the purpose of achieving positive results. The structure of the identity of the expert capable of the implementation of innovative business activity in the conditions of the small city is described: thus, the general qualities (motivation of selfrealization and achievement of success, creativity, the developed logical and critical thinking are marked out; reflexivity, conscious self-control of activity) and the special, characteristic of innovators in the small city (ethnocultural tolerance; knowledge of the features and traditions of the region; developed leadership skills; communicative and information competences; emotional stability, adequate self-assessment). It gives the results and analysis of the testing of the school and university students living in small cities, which is carried out using N.M. Lebedeva and A.N. Tatarko's technique.

Forms and methods of stimulation of innovative activities in the restructuring of production program

In the Russian economy not every business entity, implements innovative business activities. The situation generated by the complexity of perception and practical transition to an innovative economic system. On the development of innovative activities affects the overall condition of the economy, condition of material production. The research demonstrates that resource potential of innovative activities in recent years had a tendency towards absolute quantitative reduction and quality deterioration. The decrease in the level and quality of resource provision of innovative activity due to the lack of necessary financial resources. Currently, innovation has become the primary means of increasing the profit of economic entities at the expense of better meet market demand, reduce production costs compared to competitors. Given the complexity of businesses, there is a need of the state stimulation of innovative activity, which is carried out the main directions, forms and methods. In the system of direct effects of the state on business innovation is the stimulation of development of Technopark structures. Creating the most favourable conditions for innovative enterprises, the provision of various services is their main goal. For the food processing industry currently, the largest share in the investments in the investment activities have their own sources of funding, including the use of depreciation. To Finance industry-wide, cross-sectoral and regional scientific and technical problems you can create extra-budgetary funds for financing R & d and innovation support. To encourage regional interests, one of which is that innovation is available to local authorities. In the financial provision of innovative activity is given credit. A Bank loan allows you to increase the efficiency of innovation activity. The article concludes that these measures to stimulate innovative-innovative activity can effectively influence the activity of the company: will allow to increase the production of food products of high quality and varied assortment, which in turn, would boost the earnings of the food industry.

Does microlending affect innovation and entrepreneurship? Evidence from Ethiopia

This study examines the effect of group lending and an incremental loan structure on the innovativeness of borrowers’ business activities. A person-situation interaction model is proposed where group lending and incremental loans moderate the likelihood an individual engages in innovative business activities. A total of 340 semi-structured interviews were conducted in Ethiopia with microloan borrowers in 2013. The results suggest a different moderating effect of group lending depending on how an individual’s predisposition to innovate is measured. Group loans negate the predictive validity of creativity in determining the likelihood to engage in innovative business activities, however group loans positively moderate the relationship of a predisposition to purchase innovative products on innovative activities. The results also suggest a sorting effect where individuals high in creativity are more likely to take individual loans than group loans. The results also suggest no effect of a desire to take future loans on the likelihood of engaging in innovative business activities.

The Role Microfinance in Economic Empowerment of the Youth (Acase of Mombasa County)

The practices of microfinance services for the poor have grown immensely since its beginning in the 1970s. It has become one of the most popular poverty reducing strategies in the world. The study used Grameen bank model and development as freedom theory to analyze the effect that microfinance had on poverty reduction. The study aimed at exploring the contribution of microfinance products such as microcredit, micro insurance and micro saving to the youth who make up to more than 60% of the country's population. The contribution involved the role of microfinance in enhancing entrepreneurship development, sighting problems surrounding the credit barriers, and creation of employment through innovative business activities. The research employed descriptive research design using simple random sampling which enables every member of the population to have an equal and independent chance of being selected as respondents and also simplest, most convenient and bias free selection method. The data was collected by use of questionnaire thereafter analyzed using both quantitative and qualitative techniques. The study results showed that MFIs have role to play in economic empowerment of the youth. Loan repayment default was largely a result of non supervision of borrowers by the MFIs, as well as inadequate training of borrowers on utilization of loan funds before they received loans. The study recommended that for sustainability all the costs involved need to be recovered and kept minimum to ensure a continuous sustainable growth of both the MFIs and the youth in poverty alleviation.