Venture Operations Research Articles

Developing a Framework for Technopreneurial Behavior: The Mediating Role of Technopreneurial Intention and Moderating Role of Attitudes

Technopreneurship is a combination of technology and entrepreneurship. Entrepreneurs who are involved in technology-based ventures called technopreneurs employ technology throughout their venture operations and produce technology-based services or products. In the era of globalization, especially post-COVID-19 pandemic, technopreneurship has become more significant as it can drive economic growth. Hence, it is very crucial to further investigate technopreneurship behaviour among university students, as they are the future generation that will lead the development of the country and magnify globalization. Few technopreneurs studies have been conducted previously, however, technopreneurs in the Malaysian context are scarce. Thus, this study proposes to investigate the relationship between subjective norms, perceived behavioural control, and technopreneurs' education towards technopreneurs' behaviour, to ascertain the mediating effect of technopreneurs' intention between subjective norms, perceived behavioural control, and technopreneurs' education towards technopreneurs behaviour, and lastly to determine the moderating effect between attitudes, technopreneurs intention, and technopreneurs behaviour, that is based on the Theory of Planned Behaviour. This study proposed a research method through a survey via questionnaire. In determining the sample size, the software of Raosoft is proposed, and for data analysis, the study has proposed SPSS for data screening and PLS-SEM for the main analysis.

Was the 600-ship navy a chimera? Budgets, force structure, and the political realities behind Reagan-era naval strategy

ABSTRACT In 2018, Secretary of the Navy John Lehman admitted that the daring Ocean Venture operation of 1981 – when U.S. and Royal Navy ships as part of a wider NATO exercise proceeded north of the Arctic Circle and penetrated within bombing range of Soviet naval bases – was in fact a ‘bluff’ because various technologies necessary for U.S. naval forces to operate deep in Soviet waters were not yet ready. They eventually were, but what about the fleet that would use them? The Reagan Administration championed the construction of a 600-Ship Navy with fifteen aircraft carrier battlegroups as central to its defense buildup, but Lehman recognized that the fleet was only viable if he implemented reforms to limit rising weapons costs. The planners responsible for long-term analysis of the Navy’s budget countered that Lehman’s plans were unrealistic and pressed him to ask Congress for more money. This was impossible because it would have run contrary to the Reagan Administration’s wider defense policies, which focused on the defense of Central Europe, and upset the delicate budgetary truce between the U.S. military services. Ultimately, political and budgetary realities were as important as strategic imperatives in shaping the size and composition of the U.S. Navy during its 1980s ‘renaissance’.

Influence on Entrepreneurship Ability

Entrepreneurship is today a widely used phrase, however, not all entrepreneurs are able to achieve success in their commercial ventures. This study discusses entrepreneurs and identifies three key qualities associated with entrepreneurship. Entrepreneurs possess key attributes such as tenacity, determination, self-confidence, and a strong drive for accomplishment, which enable them to acquire the essential skills needed to navigate the commercial landscape. Prior to commencing an entrepreneurial venture, entrepreneurs should capitalise on a suitable opportunity. Identifying opportunities is crucial in the realm of entrepreneurship. Acquiring essential resources, such as financial and human resources, is also crucial. The last stage involves harmonising opportunity, resources, and team dynamics to ensure the smooth and prosperous operation of the entrepreneurial venture.

Venture Relatedness and Learning Proficiency as Drivers of Venture Operations Autonomy

Venture Relatedness and Learning Proficiency as Drivers of Venture Operations Autonomy

The effects of political connections on entrepreneurial venture operations, employee productivity and investment decisions

PurposeThis study aims to examine the effect of political connection on operational efficiencies in the case of small and medium enterprises (SMEs) and to discover the channel through which political ties affect a firm's decision-making process.Design/methodology/approachFollowing the scope of the study, panel fixed effect has been adopted to explore the impact of political connection on a firm's operational efficiencies. The data were collected every two years from 2005 to 2015 from SMEs in Vietnam under the collaboration of the Central Institute for Economic Management (CIEM), the Institute of Labor Science and Social Affairs (ILSSA) and the Development Economics Research Group (DERG) of the University of Copenhagen (Denmark).FindingsThe results suggest that political connection has a significantly negative effect on both investment efficiencies and employee productivity. Significantly, the impact of political connections on employment decisions is more significant than it is on investment decisions. Furthermore, the findings also indicate that high-growth firms experience the interference of political connection in the decision-making process less often than their low-growth peers.Originality/valueThis paper provides some empirical evidence of the negative impact of political connections on a firm's operational efficiencies. It analyzes the channels through which political connection influences a firm's operational efficiencies. Providing empirical evidence demonstrates a dimension to capture the negative side of the political link to small and medium enterprises in developing economies.

Serving rural low‐income markets through a social entrepreneurship approach: Venture creation and growth

AbstractResearch SummaryRural communities in developing countries often exhibit high poverty levels, lack of skilled labor, and limited infrastructure. Through an analysis of three social ventures serving rural low‐income markets in Latin America, we explore how social entrepreneurs create and grow their ventures. We advance a multilevel framework that incorporates three main levels within the creation and growth process of social ventures serving these markets. At the individual level, founders are continuously revising goals and acquiring new capabilities. At the community‐relations level, they engage in explicit efforts to ground business operations in the community. At the organizational level, they pursue innovative business models. These processes are dynamic and interdependent. This framework contributes to the research on social venture creation and growth in uncertain and resource‐constrained environments.Managerial SummaryPhilanthropy or base of the pyramid (BoP) initiatives by multinational corporations have sought to alleviate poverty in rural low‐income communities in developing countries. Social entrepreneurship constitutes an alternative mechanism to generate social impact by bringing products and services to this market segment in a financially sustainable way. However, the creation and growth of a social venture in this context pose multiple challenges given the socioeconomic conditions of its populations and the limited access to public infrastructure. Based on a comparative analysis of three Latin American enterprises, our research suggests the following takeaways for social entrepreneurs seeking to serve these communities: (a) be willing to change goals and acquire new capabilities (e.g., business training); (b) see the community not only as customers or beneficiaries but also as a source of useful resources to deploy in the venture's operation; and (c) innovate in business model components (e.g., distribution, marketing, human resource management) that, due to limiting conditions in these communities, require a different approach than in mainstream markets.

M-Payment Adoption in SMEs; Virtual Entrepreneurs

The fast growth and adoption of M-payment services has been fueled by the technology and communication revolution. The goal of this study is to examine M-payment adoption and implications among SMEs within informal virtual entrepreneurs and give insights to help them continue their venture operations to compete in a technologically sophisticated environment. The purpose of this research aimed to investigate the unknown facts about the M-payment phenomena from an enterprise standpoint. The current study is quantitative, and the model was created using Unified Theory of Acceptance and Use of Technology 2 constructs and empirical data from previous literature. A generally verified and reliable model for the study was constructed using the Unified Theory of Acceptance and Use of Technology model and empirical data. The study's primary data were gathered from 122 SME owners who expanded their enterprises to virtual platforms. The study's findings emphasized that perceived transaction convenience and compatibility, as well as relative advantage and absorptive capacity, have a significant impact on M- payment adoption, while perceived risk has a significant negative impact on M-payment adoption among informal virtual entrepreneurs in the SME context in Sri Lanka. Furthermore, social influence has no influence on M-payment acceptance. The study findings are helpful for developers, vendors, policymakers, and SMEs entrepreneurs in determining the wants of most growing sectors of the economy, and the model established from the current study may be applied for future studies by identifying and eliminating restrictions of the same study.

Synergy between Small to Medium Enterprises and Financial Performance: A Case Study of Bulawayo the Former Industrial Hub of Zimbabwe

The synergy between SMEs and Economic performance has for long been acknowledged by governments but not sufficiently researched on how they contribute to economic growth. The decision to conduct this research was prompted by the desire to fill in knowledge gap manifesting among policy makers, entrepreneurs and academics on the extent to which the symbiotic relationship between SMEs financial performance predicate economic performance. Questions such as what is finance for SMEs and what is being used to secure finance by Small Ventures were elucidated. Mixed approach as well as primary source of information was used which was the major highlight on how finance influence venture operation when collecting data. Descriptive statistics were used to determine distribution of economic-performance variables and test for independence of association of variables that were assessed Results indicated that development and survival of most SMEs hinges on funding. Furthermore, SMEs performance in terms of investment and returns rely heavily on finance. There was an interrelationship on how economic performance stimulates development and productivity of Small Ventures and vice versa. It was recommended that decision makers and relevant ministries introduce necessary policy that understand, collaborate, and link SMEs and financial performance to promote economic growth. Further the research encouraged the need for a standalone financial policy be designed towards SMEs growth needs and address market imperfections.

Institutional Voids and Business Model Innovation: How Grassroots Social Businesses Advance Deprived Communities in Emerging Economies

ABSTRACTDespite the growing interest in social businesses, knowledge about and theorization of how these businesses change social and institutional conditions in emerging economies is scarce. This research investigates how an innovative social business model acts on institutional voids and creates social value for deprived communities. Building on insights from the literature and a longitudinal case study of a local, grassroots social business venture operating in Brazilian slums and shantytowns (favelas), we uncover and theorize eight mechanisms by which an innovative social business model brings about institutional change and creates social value. These mechanisms are: orchestrating local business networks, developing local business networks, upgrading and building cognitive capacity, legitimizing, assigning multiple roles, empowering, building a positive territorial identity (territorial de-stigmatization), and boundary spanning. Our findings have important implications for social entrepreneurs and organizations supporting social business ventures in transforming economies.

Joint venture and joint operating agreements in Iran: legal aspects

Abstract Under current Iranian laws and regulations there is a requirement for an upstream petroleum contract to be managed by a joint venture entity and so the conclusion of a joint venture agreement (JVA) is compulsory in such petroleum projects. In this research article we first discuss the rules governing JVAs and the statutory requirements of such agreements in Iran. Then, by studying the relevant rules, we consider the advantages and disadvantages of the both unincorporated and incorporated forms of JVA and finally we discuss some of the implications of the JVA regarding tax, accounting procedures and fiduciary duties. We also consider the role played by unincorporated joint ventures and the joint operating agreement (JOA) in Iran.

Internal Corporate Venture Planning Autonomy, Strategic Evolution, and Venture Performance

Theory and research typically suggest that internal corporate venture (ICV) managers should be granted the freedom needed to manage their new business initiatives as they choose, with little or no interference from senior levels of corporate management. The current research investigates the relationship between venture planning autonomy and venture performance, arguing that this relationship is affected by the types (i.e., goal-related or value-proposition related) and levels (low-to-high) of strategic evolution occurring in the ICV. Data collected from 145 ICVs operating in 72 corporations indicate that venture planning autonomy is most positively related to venture performance when those ICVs’ goals remain stable over the course of venture operations, but the value propositions of those ICVs are evolving.

Internal corporate venture planning autonomy, strategic evolution, and venture performance

Theory and research typically suggest that internal corporate (ICV) venture managers should be granted the freedom needed to manage their new business initiatives as they choose, with little or no interference from senior levels of corporate management. The current research investigates the relationship between venture planning autonomy and venture performance, arguing that this relationship is affected by the types (i.e., goal related or value proposition related) and levels (low-to-high) of strategic evolution occurring in the ICV. Data collected from 145 ICVs operating in 72 corporations indicate that venture planning autonomy is most positively related to venture performance when those ICVs’ goals remain stable over the course of venture operations, but the value propositions of those ICVs are evolving.

Social Ties, Prior Experience, and Venture Creation by Transnational Entrepreneurs

The interaction between resources, and host and home country contexts of transnational entrepreneurs (TEs), is important for understanding their strategies and hence performance of their ventures. Yet, how they deploy their unique experiences and social networks in the founding of ventures in multiple institutional contexts is less understood. Based on 15 in-depth interviews with TEs of Indian origin in the UK, and nine of their counterpart heads of transnational venture (TNV) operations, we explore the use of prior experience, and personal and industry ties in the founding of TNVs in their home country. Our findings show that the way TEs use personal and industry ties in the host and home countries is contingent on whether they have prior experience of: 1) entering the home country; 2) implementing the business opportunity underlying the TNV in the home country, respectively, with a former employer. The implications of these findings are discussed.

Análise do Modelo de Negócio das Ventures Builders

O objetivo deste estudo é analisar o modelo de negócio das ventures builders que apoiam o desenvolvimento das startups. Uma a cada quatro startups brasileiras encerram suas atividades em um ano e o percebido é que empreendedores têm dificuldades no acesso a fontes de financiamentos e conhecimento para novos negócios. Há estudos que discutem mecanismos de apoio a startups, como operações de venture capital e atuação de aceleradoras. Porém, são escassas as pesquisas que discutem o modelo de negócio das venture builders. O estudo tem abordagem qualitativa, com caso único, de natureza exploratória e descritiva. Os dados foram coletados por meio de entrevistas semiestruturadas e documentos. A técnica de análise adotada foi a análise de conteúdo com auxílio do software Atlas.ti. Os principais resultados encontrados foram nos quatro elementos do modelo de negócio da organização. Na proposição de valor, a venture builder cria valor ao seu cliente compartilhando conhecimento e disponibilizando recursos financeiros. Na fórmula de lucro, ao mesmo tempo em que a venture builder entrega valor para o cliente, cria valor para si, pois adquire participação societária da startup. Nos recursos-chave, as pessoas têm um papel essencial para o compartilhamento de conhecimento e o alcance das metas estipuladas. Por fim, o processo-chave envolve execução de serviços especializados e mentorias direcionadas. Assim, as principais características que diferenciam o modelo de negócio da venture builder analisada são o tempo de duração do processo, a execução dos serviços operacionais e o networking.

Parenting Style and the Development of Internal Corporate Venture Learning Proficiency

Internal corporate ventures (ICVs) must become proficient learners if they are to successfully cope with the uncertainty inherent to their operations. The current research explores the role of an ICV’s initial strategic clarity in the development and demonstration of ICV learning proficiency as well as the effects of corporate parenting style on this relationship. Based on data collected from 145 ICVs in 72 corporations, the current research theorizes and finds that initial strategic clarity promotes learning proficiency over the course of venture operations. This relationship is most positive when the levels of top management support and operations autonomy granted to the ICV are low. Moreover, results suggest that both “short leash” and “long leash” parenting styles can be useful in fostering ICV learning proficiency, with the appropriateness of these styles as facilitators of learning proficiency depending on the ICV’s initial strategic clarity level. Theoretical and practical implications are discussed.

Project Management And Succesful Entrepreneurship Venture In Nigeria

This paper takes an empirical look at project management and small business entrepreneurshipventure operations in Nigeria. It posit that project management background is essential to thesetting up and good performance of entrepreneurship venture. The lack of knowledge of projectmanagement can create problems that will affect entrepreneurship venture growth andachievement of desirable objectives that lead to economic growth and development. The dataused for the study was mainly from primary source through the use of questionnaire andpersonal interview and was complemented by secondary data. The study used Pearson chi-square statistical tools to analyses the data. The empirical results revealed that projectmanagement is not given adequate attention in the startup and operation of entrepreneurshipventures, this was attributed to lack of skills, knowledge and abilities and ignorance in the areaof project management by individuals and institutions. Furthermore, the study established thatsome of the project management practices, approaches, competencies, and project managers’personal characteristics abound but how to apply them in entrepreneurship venture operations isa problem. The conclusion is that all stakeholders involved in entrepreneurship and businessprocesses in Nigeria should be grounded in the basic elements of project management and know-how to apply them in entrepreneurship ventures. Recommendations are provided on how togalvanize the two concepts into desired results that will facilitate maximum results.

Entrepreneurship Amid Concurrent Institutional Constraints in Less Developed Countries

To encourage new research on the role of institutions in the entrepreneurial process in less developed countries (LDCs), the authors propose a conceptual framework to investigate concurrent institutional constraints. The authors define these constraints as geopolitical contexts that encounter simultaneous challenges to well functioning formal and informal institutions. Systems of stronger institutions compensating for weaker institutions are hampered in these settings and such systems weigh heavier on local entrepreneurs and further challenge their ability to mobilize resources and access market opportunities. By investigating the extreme operating conditions of these settings, scholars gain a deeper understanding of how entrepreneurs confront operational dilemmas and express agency through engaging with bricolage and cultural entrepreneurship. To animate these proposals, the authors consider a case illustration of a venture operating under such constraints.

Do new ventures benefit from strategic change or persistence? A behavioral perspective

Purpose – Is change always the best alternative? While large and established firms are believed to benefit from strategic flexibility and change, the purpose of this paper is to argue and empirically prove that firms in emerging economies need to persist with their strategies during their formative years in order to acquire sustainable competitive advantage. The author explores these relationships from a behavioral perspective. Design/methodology/approach – Data were collected from 103 Indian new ventures. Multiple linear regression analysis was applied to test the hypotheses. Findings – The findings reveal that persisting with the existing strategies is the most optimal way of surviving and growing in the initial years of a venture operating in the turbulent business environments of emerging economies. Radical shifts in strategic postures can, indeed, be fatal for new firms. Research limitations/implications – The findings are based on data from one emerging economy. Further exploration of these relationships in other setups can help in better understanding of the execution of strategic persistence and change. Practical implications – Given the frequent changes in the business environment and resource-scarcity of new ventures in emerging economies, firms that persist with their strategies during the formative years are more likely to succeed. Originality/value – Limited attempt has been made to integrate strategic and behavioral perspectives in the change literature. In this study, the author brings in the contingent role of founder’s personality to better understand the possible contingencies in the strategic change literature.

The entrepreneur's choice of a venture capital firm: Empirical evidence from two VC fund portfolios

We examine the determinants of entrepreneurs’ choices between an independent and a bank-affiliated venture capital firm operating in the same region of France. We find empirical support for a significant impact of the firm's support quality and the venture's liquidation value.

Effectuation and causation: Two decision-making logics of INVs at the early stage of growth and internationalisation

The purpose of this study is to explore what decision-making logic (effectual or causal) is dominant in the new venture internationalisation process and what influences its changes over time. To this end, we present a case study of a Polish international new venture (INV) operating in the audiobook industry. The study’s findings reveal that decision-making logic at the early stage of company growth and internationalisation cannot be assigned to one type of logic, but rather may shift from effectuation to causation and vice versa. Moreover, we argue that INVs may apply two logics simultaneously, depending on the characteristics of the problem space.