Journal of Entrepreneurship, Business and Economics

Journal of Entrepreneurship, Business and Economics

Basic info

  • Publisher: Scientificia
  • Country of publisher: canada
  • Date added to EuroPub: 2017/May/23

Subject and more

  • LCC Subject Category: Business Administration, Entrepreneurship, Economic Systems
  • Publisher's keywords: entrepreneurship, business and economic issues across the world
  • Language of fulltext: english
  • Full-text formats available: PDF

Publication charges

  • Article Processing Charges (APCs): No
  • Submission charges: No
  • Waiver policy for charges? No

Editorial information

Open access & licensing

  • Type of License: CC BY
  • License terms
  • Open Access Statement: Yes
  • Year open access content began: 2013
  • Does the author retain unrestricted copyright? False
  • Does the author retain publishing rights? False

Best practice polices

  • Permanent article identifier: None
  • Content digitally archived in: Nopolicy
  • Deposit policy registered in: None

This journal has '82' articles

UNDERSTANDING LOCAL PROCESSES: CONTEMPLATING FRANCHISATION

UNDERSTANDING LOCAL PROCESSES: CONTEMPLATING FRANCHISATION

Authors: Colin Jones
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Abstract

Purpose- Increasing, there is growing acknowledgement of the importance of franchising within all modern global economies. Despite this, little is understood with regards the actual impact of franchising on local economies. This research aims to reframe the contribution of franchising by considering the process of franchisation. Design/methodology/approach- This study employed a mixed-method approach, utilizing critical realism to facilitate an outcomes-based explanation of firm survival. The focus of the study was upon generative mechanisms that were assumed to give rise to particular events from which (pizza) firm survival was enhanced vis-à-vis all other community members. A database of 2440 firms (or in excess of 21,000 company years) combined with archival records, interviews and the researcher’s observations provided the researcher with access to the nature of interaction occurring between firms. Findings- It was found that the survival of local firms was influenced positively by the day-to-day actions of franchise operators. However, it is argued that to understand how any such advantage my fall to local independent firms, we need too better appreciate the multitude of local processes related to such industries. Originality/value- This research re-examines several ecological concepts with the view of enabling a clearer investigation of underlying local processes. It also represents an authentic autecological approach to the study of firms.

Keywords: Firm Survival, Ecological Processes, Transferred Demand
Path Finder Strategy Radar

Path Finder Strategy Radar

Authors: Prof. Manoj Joshi
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Abstract

Purpose- The purpose of this research is to define and craft a “Path Finder Strategy” that can be adopted by firms, while entering into different markets with differentiated products. This conceptual yet a research paper covers an in-depth knowledge relating to devising a strategic ‘radar zone’ and assist in ascertaining whether a firm is product driven, market driven or customer driven (type of the firm). Design/methodology/approach- The learning from international evidences connected with the “type of the firm” has been extended to many firms operating in India. An exhaustive list of firms was studied operating in India and five firms were picked that strongly reflected the drivers to strategy. Detailed case study followed by analysis was undertaken, while each driver to strategy was discovered that associated with a type of firm. Findings- There are unique drivers to strategy befitting each type of firm identified under product driven, customer driven and market driven firm. Thus, a “Path Finder Strategy” can be crafted for each type of firm. Research limitations/implications- There is a scope for discovering and connecting additional drivers’ to strategy associated with each type of firm. The research is confined to Indian Territory and firms operating within India, however, if global firms operating from different geographies could be studied for a more universal learning. Practical implications- Firm falling under a typical type of firm and thereby exhibiting a distinctive characteristics will have a unique “path finder strategy radar” based upon the industry it represents. Hence, firms can identify where the firms strategy is and should be to steer in the right direction. Originality/value- The research is based on field study and research at the primary and secondary level of investigations.

Keywords: Path finder strategy, Strategy radar, Innovation, Competitive advantage, Dynamic capability
STRATEGIC ANALYSIS OF SMES’ EARLY INTERNATIONALISATION PROCESSES

STRATEGIC ANALYSIS OF SMES’ EARLY INTERNATIONALISATION PROCESSES

Authors: Julio Lamas Knapp, Christopher Kronenberg
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Abstract

Purpose- This study focuses on the main driving factors influencing the path (i.e. the decisionmaking process) of SMEs to internationalise and explains reasons for choosing different entry modes as strategy. The paper aims to gain a closer understanding of characteristics and challenges that SMEs experience in the early phase of internationalisation, and how its internationalisation practices – strategies – contribute to their competitiveness. Design/methodology/approach- A theoretical framework based on a literature review is developed. Empirical results were gained from a qualitative approach based on case studies and cross-case analysis of three Tyrolean SMEs. Findings- Aspects that have been investigated by this study are key motivating drivers to internationalise and strategies applied. The paper highlights different approaches why and how SMEs undertake the process of internationalisation. Practical implications- An understanding of drivers and strategies to internationalisation offers entrepreneurs and small business managers the opportunity to shape and reflect on the development of their company. Outcome of this study reveals the importance of managers in understanding the changes in the business environment and in identifying key internal factors. Results provide practical mentoring to SMEs in similar situations in understanding the nature of the processes of an international expansion strategy. Originality/value- Internationalisation strategies are usually viewed in relation to large enterprises. This study considers SMEs in their approach to develop international strategies and market presence.

Keywords: SMEs, early internationalisation strategies, strategy development, business development
HETERODOX ECONOMICS APPROACH TO BUSINESS COOPERATION

HETERODOX ECONOMICS APPROACH TO BUSINESS COOPERATION

Authors: Vitor Braga
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Abstract

Purpose- Economics and business have evolved as sciences in order to accommodate more of ‘real world’ solutions for the problems approached. In many cases, both business and economics have been supported by other disciplines in order to obtain a more complete framework for the study of complex issues. The aim of this paper is to explore the contribution of three heterodox economics disciplines to the knowledge of business co-operation. Design/methodology/approach- This approach is theoretical and it shows that many relevant aspects of business co-operation have been proposed by economic geography, institutional economics, and economic sociology. Findings- This paper highlights the business mechanisms of co-operation, reflecting on the role of places, institution and the social context where businesses operate. Research Implications- It contributes with a theoretical framework for the explanation of business co-operations and networks that goes beyond the traditional economics theories. Originality/value- This paper contributes with a framework for the study of business co-operation both from an economics and management perspective. This framework embodies a number of nonquantitative issues that are critical for understanding the complex networks in which firms operate.

Keywords: Business Co-operation, Entrepreneurship, Economic Geography; Institutional Economics; Economic Sociology
THE ROLE OF FINANCE IN THE DEVELOPMENT OF TECHNOLOGY-BASED SMES: EVIDENCE FROM NEW ZEALAND

THE ROLE OF FINANCE IN THE DEVELOPMENT OF TECHNOLOGY-BASED SMES: EVIDENCE FROM NEW ZEALAND

Authors: David Deakins, David North
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Abstract

Purpose- In this paper we discuss an exploratory study that involved face to face, qualitative interviews with 20 technology-based small firms (TBSFs) and seven qualitative interviews with key informants and funders. The TBSFs were all located in New Zealand (NZ), a small open economy with a limited domestic market, a population of 4.3 million, current GDP per capita of US$32,260 (2010) and arguably an immature and limited financial infrastructure. The central research question for this study was whether TBSFs can raise appropriate finance that allows them to start, develop and remain in NZ? Design/methodology/approach- An exploratory study has involved a programme of 20 in-depth, face to face qualitative interviews with the founders and chief executives of TBSFs drawn from three contrasting locations in New Zealand and from across different technology-based sectors. A further seven interviews have been conducted with key informants drawn from the three locations. Findings- As might be expected from theory, there was a heavy reliance on internal funding and bootstrapping methods, although a number of TBSFs had in addition managed to raise additional private capital through their own contacts and networks. All the sample had relied upon internal funding to some extent. However, a total of 13 (65 per cent) either relied totally on internal funding (from the initial start-up) or relied upon a combination of internal funding, bootstrapping and private investors. Context was important with New Zealand being a small open and relatively remote economy when compared to the UK; where the EU provides a significant market for TBSF development. In contrast, NZ TBSFs, of necessity were heavily involved in distant overseas markets. Research Implications- There was evidence of a distinct finance gap in the external equity market in New Zealand. For amounts below NZ$1m, these could be sought from networks of business angels, even though such sources were limited and restricted. If the funding sought was in the range NZ$1m - $5m; this was likely to fall between the informal and formal venture markets. Associated with this was a distinct preference for relying on internal funding by NZ TBSFs. Originality/value- This paper provides a contribution by being the first serious study of TBSF development in New Zealand, specifically focusing on the role of finance. The example of TBSF develop ment in New Zealand’s small, open economy is significant and comparisons are drawn with the extent of funding gaps and similar issues in TBSF development from a UK based study. These comparisons enable the findings to be set in context and implications developed.

Keywords: Technology-based small firms, Finance, IPR, Venture finance, Entrepreneurial development
IDENTIFICATION AND RANKING OF FACTORS AFFECTING BEHAVIORAL ECONOMICS IN IRAN

IDENTIFICATION AND RANKING OF FACTORS AFFECTING BEHAVIORAL ECONOMICS IN IRAN

Authors: Seyed Ali Akbar Ahmadi, Yashar Salamzadeh, Lia Ranjbar
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Abstract

Purpose- Since economics is the science of choice and if we conside the human being as a selector, it should be noted how the function of selection is formed and how it can psychologically measure and analyze activities such as intentions, motives, opinions, attitudes and expectations. The aims of this study were to identify and rank the factors affecting behavioral economics and its use. Design/methodology/approach- In this deseriptive -analytic study, 385 in dividuals were selected using the Cochran formula. Data were gathered through a questionnaire and analyzed using arachnoid diagram rating and spss software package. Findings- Generally, fairness, risk and inequity aversion dimensions have more important roles in behavioral economics of Iran community, while, mimicry, sel fishness and economic intelligence have less significant roles. All hypotheses of the study were confirmed (p<0.05) and although the hypothesis related to selfishness was rejected, according to the participants, role of selfishness dimension is high among Iran community. Research limitations/implications- It can be concluded that the behavior and habits of other people have no significant role in behavioral economy of Iran community, that might be due to the fact that the effects of these two items on economy is not so important; hence respondents don’t consider high amount of significance for these dimensions in Iran community. More over, in behavioral economics of Iran community the amount of reciprocal friendship, inequity aversion and fairness is low that can be attributed to the lack of trust between people in regard to their economic decisions. Practical implications- One of the most important applications of this research, is offering behavioral economy in general scheme, and as regards to few research in this field, it’s one of the main problems of executives when refer to this field of science, because they don’t have appropriate image of the current situation in Iran and by this image they will be able planning decisions regarding the strengths and weaknesses of Iranian society. Originality/value- Firstly, similar research in the field of behavioral economics has not been carried out in Iran, and this study can be considered grounds for starting research in this field. Furthermore, dispite the long time has passed, since the introduction of behavioral economics theory , no research has been focused on this issue in Iran and presented profile in this research , is the first image of behavioral economics in Iran.

Keywords: Behavioral economics; Economic decision making; Rationality; Bounded rationality; Conventional economics
SOCIAL NETWORKS AND THE SUCCESS OF SMES IN MEDIA INDUSTRIES

SOCIAL NETWORKS AND THE SUCCESS OF SMES IN MEDIA INDUSTRIES

Authors: Sima Sarafi Zanjani, Abdolreza Gholamali, Dariush Abbasi
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Abstract

Purpose- Nowadays, media is an integral part of the daily life of human beings. SMEs in this industry use their potentials to succeed. On the other hand, social networks are becoming a key to success for these companies. In this sense, the authors investigate the effect of social networks on the customer's alertness and then on the success of these firms. Design/methodology/approach- To do so, among a hundred and four managers in media enterprises in different levels, forty ones were selected and a questionnaire was distributed among them. In fact a quantitative approach was used to test the research hypotheses. Findings- The results show that social network has an influence on the success of media SMEs. Moreover, one could conclude that network ties' strength, networking activities, network ties' type, and customer's alertness influence the success of media SMEs. Research Implications- SMEs in media industries could take advantage of social networks to reach a more effective and efficient level of performance. Indeed, stronger network ties could help them in acting more efficiently. Moreover, customer's alertness could be affected through the characteristics of social networks. Originality/value- The present study is among the first studies in the country which highlights the realities in the SMEs of media industries in developing countries. However, future research could deal with other aspects of such firms.

Keywords: Social Networks, Media Industries, Customer's Alertness
APPLICATION OF CUSTOMER RELATIONSHIP MANAGEMENT IN EMERGING ECONOMIES

APPLICATION OF CUSTOMER RELATIONSHIP MANAGEMENT IN EMERGING ECONOMIES

Authors: Ali Maleki, Mehdi Beheshtian-Ardakani
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Abstract

Purpose- Relatively few organizations have implemented an integrated approach, which addresses all the key strategic elements of CRM. Even in more developed countries only a small number of businesses have a clear idea of what they should do with information technology in order to successfully implement CRM. Design/methodology/approach- To do so, the literature is critically reviewed and main findings are presented in different categories. Findings- The role of information technology in development of a fully integrated CRM system within any organization is presented in the present paper. Research Implications- In many countries there is still confusion as to what CRM is all about. To some it is about a loyalty scheme, to some it is about a help desk. To others it is about a relational data base for key account management and for others it is about mass profiling the customer base without undertaking detailed segmentation. Findings highlight the realities in the area of CRM application in emerging economies and criticises the existing trends. Originality/value- The present study is among the first studies that highlights the realities in the area of CRM application in emerging economies.

Keywords: Customer Relationship Management, Emerging Economies, Challenges
DELINEATING SOCIAL ENTREPRENEURSHIP FROM RELATED TERMINOLOGIES

DELINEATING SOCIAL ENTREPRENEURSHIP FROM RELATED TERMINOLOGIES

Authors: Shalini Nigam, Atul Narang, Yogita Narang
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Abstract

Purpose- Social entrepreneurship is gaining ground rapidly as a field of research and practice and attracting increasing interest within the policy-making authorities, research on social entrepreneurship still falls far behind the practice. The different concepts used by the literature are often defined unwell and can take on a variety of meanings with little consensus so far reached among scholars. The concept of social entrepreneurship continues to convey different things to different people and there is no clear understanding and uniformity on where to locate it and on how to qualify social entrepreneurs. The paper is an attempt to clarify the boundary of Social Entrepreneurship and differentiating it from related concepts like: Corporate Entrepreneurship, sustainability and selfsufficiency, earned income strategies and social purpose businesses etc. Design/methodology/approach- To do so, secondary data had been used. The methodology involved the extensive use of Literature review in the field of Social Entrepreneurship. Findings- It can be said that definitions of social entrepreneurship and social enterprise vary to a great extent at the international level with a number of authors using the two interchangeably. The clarity has been provided in differentiating various related terms. Research Implications- There has been lot of confusions about to whom we can call social entrepreneurs and what are the differences which make social entrepreneurs apart from their related communities. More clarity on the concept will add to provide more ground for the expansion of social entrepreneurs. Originality/value- The present study is among the first study to clarify the similarities and differences in the field of Social Entrepreneurship and thus lays the foundation on which further research in the field of Social Entrepreneurship could be carried out.

Keywords: Entrepreneurship, Social Entrepreneurship, Social Enterprise, Social Entrepreneurial Ventures
DETERMINANTS OF ENTREPRENEURIAL CAREER: EXPERIENCE OF POLYTECHNIC STUDENTS

DETERMINANTS OF ENTREPRENEURIAL CAREER: EXPERIENCE OF POLYTECHNIC STUDENTS

Authors: Amran Awang, Ima Ilyani Ibrahim, Siti Azreena Ayub
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Abstract

Purpose- This study focuses on the factors influencing students’ choice of selecting entrepreneurship as their career after graduation. The paper aims to gain more understanding of how personality traits, entrepreneurship knowledge-experience and current economic environment affect entrepreneurial career among polytechnic students in Malaysia. Design/methodology/approach- A theoretical framework based on a literature review is developed. Empirical results were derived from a quantitative approach based on survey method and a cross sectional study. Hypothesis testing were executed where multiple regression analysis utilized to verify the direct relationship between independent variables and dependent variables. Findings- Personality traits and favorable economic environment were proven important in explaining students intention to choose entrepreneurial career as their career choice after they graduated from study. Research Implications- The results shall aid polytechnics management in formulating their curriculum and programs that fit students’ priorities that they shall choose their future undertaking as an entrepreneur. Malaysian public policy regarding higher education should consider some changes required in higher learning institutions in the country. Annual budget and higher learning institutions entrepreneurship programs shall be revised accordingly after considering the results of the study. Originality/value- Entrepreneurial intention inquiries in Malaysian institutions have been very limited and an established framework need more serious efforts. This study contributes to entrepreneurial intention body of knowledge.

Keywords: Entrepreneurial career, Personality traits, Economic environments, Knowledge and experience, Malaysia
IDENTIFICATION AND ANALYSIS OF ENTREPRENEURIAL STRATEGIES PRESERVING SCHUMPETERIAN RENT

IDENTIFICATION AND ANALYSIS OF ENTREPRENEURIAL STRATEGIES PRESERVING SCHUMPETERIAN RENT

Authors: Keyhan Asadi Sisakht, Sharareh Jalili Orumieh, Kambeiz Talebi
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Abstract

Purpose- As any increase in the price of resources and any imitation by competitors decrease entrepreneurial rent, the entrepreneurs should use some kind of strategies to preserve this rent. We used resource based view as a lens for finding these strategies. Design/methodology/approach- For conducting this research, qualitative method was used and qualitative research questionnaire was formed based on Peteraf model, 15 entrepreneurial companies have participated for completing this study. Findings A total of 13 strategies have been identified and analyzed which are: Pioneering strategy, Economy of Scale, Establishing reputation and brand, Creating continuous innovation, Secrecy and ambiguity strategy, Franchise development, Control of resources, Legal barriers, Compromise with competitors, Selecting strategic location for business, Sharing profit with resource owners, Supplier diversification and Vertical integration. Research Implications- Entrepreneurs can use these strategies to preserve their rent. In addition, the researchers can use these results for further research and developing the literature of entrepreneurial strategies which was not rich before presenting this research. Originality/value- This is the first qualitative research which tries to identify entrepreneurial strategies through the resource-based view lens. Furthermore the research tries to differentiate entrepreneurial strategies from non-entrepreneurial strategies for the first time.

Keywords: Entrepreneurial Strategies, Resource-based View, Entrepreneurial Rent, Imitation Barrier Strategies, Qualitative Research Method
EVALUATING THE EFFECTIVENESS OF ENTREPRENEURSHIP TRAINING COURSES IN ADEVELOPING COUNTRY

EVALUATING THE EFFECTIVENESS OF ENTREPRENEURSHIP TRAINING COURSES IN ADEVELOPING COUNTRY

Authors: Majid Hosseinzadeh, Seyyed Mostafa Razavi, Davood Hosseinzadeh
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Abstract

Purpose- Today, entrepreneurship has become a necessity for economic development in different countries. Therefore, entrepreneurship training could be a solution in order to reach this goal. But it should be considered that for being more successful, these courses should be effective and efficient. Design/methodology/approach- In this study, a survey is conducted to evaluate the effectiveness of these courses between 265 trained individuals between in a two years period. Random sampling is done and then 113 individuals were selected to conduct the survey. Cronbach's alpha was calculated (0.967) and some hypotheses were tested. Findings- Results reveal that output effectiveness was significant, and the courses were considered to be at an acceptable level. But there were some limitations as follows: (i) lack of access to a large number of trainers, which might affect the generalization level of the findings; and (ii) finding appropriate measures to test the mentioned hypotheses. Research Implications- The findings of this research might be used by policy makers, trainers and even tutors in the field of entrepreneurship. Originality/value- The research is among the first studies in the area of evaluating entrepreneurship training courses conducted in Iran.

Keywords: Effectiveness, Output, Training, Entrepreneurship
THE RISK LEVEL OF VIET NAM MEDICINE AND MEDICAL EQUIPMENT INDUSTRIES UNDER FINANCIAL LEVERAGE DURING AND AFTER THE GLOBAL CRISIS 2007-2009

THE RISK LEVEL OF VIET NAM MEDICINE AND MEDICAL EQUIPMENT INDUSTRIES UNDER FINANCIAL LEVERAGE DURING AND AFTER THE GLOBAL CRISIS 2007-2009

Authors: Dinh Tran Ngoc Huy
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Abstract

Purpose- This research paper evaluates the impacts of external financing on market risk for the listed firms in the Vietnam medical industry as it becomes necessary, esp. after the financial crisis 2007- 2009. Design/methodology/approach- First, by using quantitative and analytical methods to estimate asset and equity beta of total 10 listed companies in Viet Nam medical industry with a proper traditional model. Second, we used three scenarios. Finally, leverage changed in three scenarios. Findings- We found out that the beta values, in general, for many institutions are acceptable. Under 3 different scenarios of changing leverage (in 2011 financial reports, 30% up and 20% down), we recognized that the risk level, measured by equity and asset beta mean, decreases when leverage increases to 30% and it increases in case leverage down to 20%. Third, by changing leverage in 3 scenarios, we recognized the dispersion of risk level, measured by equity beta var, increases if the leverage increases to 30%. Compared to the results of other industries, we see that asset beta var in here increases when leverage up to 30% as well as that in consumer good industry. Originality/value- Finally, this paper provides some outcomes that could provide companies and government more evidence in establishing their policies in governance.

Keywords: Equity beta, Financial structure, Financial crisis, Risk, External financing, Medical industry
BUSINESS INCUBATORS AS ALLIED IN REDUCING THE TRANSACTION COSTS IN MEXICAN ENTREPRENEURS

BUSINESS INCUBATORS AS ALLIED IN REDUCING THE TRANSACTION COSTS IN MEXICAN ENTREPRENEURS

Authors: José G Vargas-Hernández, Rosa del Sagrario Garcia Magaña
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Abstract

Purpose- Strategic alliances are given by voluntary agreement between the parties, and have various forms, means and objectives which exist. In this text, the incubators as potential allies for entrepreneurs in the creation process of the company and as a cause of reduction of transaction costs in the process, where the relationship between the two sides have discussed them generates benefits of various natures. While it is not set as the union of both, if it looks like the relationship and close contact, as a network, which allows the incubator to survive and achieve its objective and entrepreneurial reduce the risk of birth as a company, in addition to build networks with other companies, organizations or institutions and ease of financing, and even the possibility of investors. Design/methodology/approach- The method used for this paper is based on the analyses of official documents of the institutions referred, some studies on entrepreneurship and startups, and finally available data on new firms and institutions as RedJal and INEGI. In addition, incubators and studies on such cases were also reviewed to learn about the experience, services and working methods of these. This focused on observing what happens in Mexico about. Findings- Business incubators in Mexico use to be strategic partners for entrepreneurs that enable the latter to reduce their transaction costs to startup a new company. Business incubators are also important to reduce the risk of death of the company and reduce uncertainty in the process. Also, the services provided, experience and expertise by incubators are important for a growing business arises with the required formality and according to the law, of course protecting its intellectual property and creating an image that pays to create its own reputation.

Keywords: Strategic Alliance, transaction costs, entrepreneurship, business incubator
THE RULE OF ACADEMIC COMMERCIALIZATION: THE BAYH DOLE ACT IN IRAN AND USA

THE RULE OF ACADEMIC COMMERCIALIZATION: THE BAYH DOLE ACT IN IRAN AND USA

Authors: Saber Khosravi, Mahnaz Ahmadi, Mahtab Barazandeh
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Abstract

Purpose- Just before the approval of the Bayh dole Act, universities and colleges in the United States of America were used to be associations with the main aim focused on research and education and they could not imagine taking other missions. The approval of this act gave universities the right to submit and take advantage of their research results and academic achievements as intellectual properties which were done by governmental budget. Still over fifty years the Bayh dole Act is considered as the most inspiring act and significant factor in salient development of innovation and its consequent national productivity in the 1990s economy of America. With the encouraging economic and financial outcomes, many other countries like Iran got enthusiastic to authorize and implement the same act. Although Islamic Republic of Iran with developing economy has approved similar academic commercialization rules, they were not successful in practice. Consequently they could not result to similar effects of the Bayh dole Act such as the mutation in development of academic innovation or the commercialization of knowledge base products in universities and, apparently they could not even increase the transfer technology offices (TTO) or the number of university patents and products either. Design/methodology/approach- This article first introduces the background and the contexts of the Bayh dole passage in America and then explains the Act‟s main outcomes in America‟s innovation and academic commercialization system. Also it takes a brief look at the similar rules and regulations in other countries including Singapore, China and India. Findings- Moreover, this article contains the comparative study of these regulations and related acts in other countries, especially in America, and their similarities and differences. Finally, by interviewing the Iranian inventers and experts, the defect of internal acts, factors and reasons of their disappointed implementation are illustrated.

Keywords: Bayh dole Act, University, Commercialization, Intellectual Proporty, Entrepreneurship

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