Entrepreneurial approaches: A comparative study of Thai and swiss business founders

IF 5.5 Q1 MANAGEMENT Asia Pacific Management Review Pub Date : 2024-06-01 DOI:10.1016/j.apmrv.2024.05.001
Claus Schreier , Nuntana Udomkit , Julia Frommelt , Markus Zemp
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Abstract

This paper aims to analyze (1) the entrepreneurial approaches of decision-makers in SMEs, specifically exploring whether they apply principles of causation or effectuation when establishing new business ventures, and (2) it delves into contextual studies to explore the influence of national cultural values on decision-making approaches in SMEs regarding whether Thai and Swiss entrepreneurs apply the principles of causation or effectuation in establishing new business ventures differently. Specifically, it investigates whether entrepreneurs from Thailand and Switzerland, two countries with significant cultural differences according to Hofstede's cultural value dimensions (Hofstede, 1998; 2011), exhibit variations in their approaches and the underlying principles they utilize in the venture creation process.

Forty-six in-depth interviews were conducted. The findings reveal that entrepreneurs from both countries tend to blend elements of effectual and causal reasoning when establishing their ventures. They focus on leveraging available resources to evaluate potential business opportunities, establish valuable partnerships and collaborations, and emphasize the importance of social networks, particularly with family and friends.

The findings indicate that the national cultural context influences entrepreneurs’ preferences on causal and/or effectual reasoning applied to launching and growing new ventures. Thai entrepreneurs exhibited a stronger orientation toward achieving financial results, embracing unexpected opportunities while being open to risks, and placing a greater emphasis on maximizing anticipated returns on investment. In contrast, Swiss entrepreneurs considered the concept of affordable losses as an integral part of their decision-making process.

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创业方法:泰国和瑞士企业创始人的比较研究
本文旨在分析 (1) 中小型企业决策者的创业方法,特别是探讨他们在建立新企业时是采用因果关系原则,还是采用效应原则;(2) 本文深入研究了国家文化价值观对中小型企业决策方法的影响,探讨泰国和瑞士企业家在建立新企业时是采用因果关系原则,还是采用效应原则。根据霍夫斯泰德的文化价值维度(霍夫斯泰德,1998 年;2011 年),泰国和瑞士这两个国家的文化差异很大,本研究具体探讨了这两个国家的企业家在创业过程中采用的方法和基本原则是否存在差异。研究结果表明,两国的创业者在创建企业时都倾向于融合效果推理和因果推理的元素。他们注重利用现有资源评估潜在商机,建立有价值的伙伴关系和合作关系,并强调社会网络的重要性,尤其是与家人和朋友的关系。研究结果表明,国家文化背景影响着创业者在启动和发展新企业时对因果推理和/或效果推理的偏好。泰国创业者表现出更强的实现财务结果的导向,在接受风险的同时拥抱意想不到的机遇,并更加重视投资预期回报的最大化。相比之下,瑞士创业者则将可承受损失的概念视为决策过程中不可或缺的一部分。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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来源期刊
CiteScore
8.00
自引率
4.50%
发文量
47
期刊介绍: Asia Pacific Management Review (APMR), peer-reviewed and published quarterly, pursues to publish original and high quality research articles and notes that contribute to build empirical and theoretical understanding for concerning strategy and management aspects in business and activities. Meanwhile, we also seek to publish short communications and opinions addressing issues of current concern to managers in regards to within and between the Asia-Pacific region. The covered domains but not limited to, such as accounting, finance, marketing, decision analysis and operation management, human resource management, information management, international business management, logistic and supply chain management, quantitative and research methods, strategic and business management, and tourism management, are suitable for publication in the APMR.
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