Journal of Business Venturing Insights最新文献

Sometimes, entrepreneurial action is driven by necessity. Whether global pandemics, climate change, or the oxygen system failure in Apollo 13, time-constrained and high-stakes decisions increasingly confront entrepreneurs and managers. Yet, our literature tends to favor intendedly rational and practiced approaches to entrepreneurial action in the face of perceived uncertainty. This study views entrepreneurial action from the other side of the mirror – imposed opportunities (not created), high time pressure, and limited resources (no trove access to resources and an inability to leverage contingencies). Using a mixed-methods approach and drawing upon data from the empirical setting of professional chefs and discourse from popular media, we explore these unique forms of entrepreneurial action through the lens of MacGyvering – a term developed from a 1980's hit television show where seemingly impossible odds and idiosyncratic challenges are routinely overcome. Our findings suggest that MacGyvering does not map neatly onto any single established concept of entrepreneurial action. Instead, it integrates some aspects of effectuation, causation, bricolage, and improvisation while explicitly adapting and eschewing others. Our insights can help entrepreneurs and managers act expeditiously to create new value in the face of environmental turbulence.

Micro-acquisition marketplaces are a recent phenomenon in the world of entrepreneurship that facilitate the matching of buyers and sellers of relatively small-scale startups or pre-startup projects. Unlike traditional acquisitions, in micro-acquisition markets, sellers typically decide on the timing and offset an initial asking price for the deal. However, cognitive biases are likely to interfere with these decisions and lead to suboptimal decisions that prevent efficient matching. We argue that the age of a project at the time of listing can act as a proxy for the time and effort that has been spent by the entrepreneur to develop the project. Building on effort justification and cognitive dissonance theories, we argue that there is a curvilinear relationship between project age and price; and that this relationship is moderated by the level of revenue achieved by the project at the time of listing. Using data from Acquire.com, we find empirical support for these patterns indicating that entrepreneurs may justify a higher price because of higher effort up to a certain threshold, and especially for higher revenue projects.

Spontaneous venturing plays a prominent role in alleviating suffering in limited-term crises. Yet, when crises endure over time, it may become necessary to transition spontaneous ventures into sustained ventures to effectively address persistent needs. In this rapid response paper, we collaborated with a problem owner to investigate five sub-problems associated with the core problem of transitioning from spontaneous to sustained venturing in the context of the global refugee crisis. Using a translational research approach in entrepreneurship, we suggest answers to the five identified sub-problems grounded in existing evidence from perspectives in the entrepreneurship literature (contextualization, volunteering, community-based organizing, and venture legitimacy). We further synthesize the solutions that can help motivate and structure sustained collective efforts to address endured crises and highlight key implications for the broader community that aspires to address persistent crises.

Healthcare entrepreneurship is of growing interest, but the area of research is not well defined and is disparate across disciplines. We take an integrative approach to examine the similarities and differences between the literature for the two parent domains (healthcare management and entrepreneurship). We present findings from an interdisciplinary four-phase Delphi study and propose a new framework to guide future research. Our proposed healthcare entrepreneurship framework not only reflects variations in key factors, such as actors, activities, processes and outcomes within the parent disciplines, but also suggests gaps, connections and future opportunities for research.

Actionable summary and highlights

Since COVID-19, there has been an influx of healthcare entrepreneurial ventures, but, within a volatile market, mixed success. We find that healthcare entrepreneurship is different from work in healthcare or entrepreneurship alone. For healthcare entrepreneurs to achieve their targeted health outcomes as well as their operational and profitability outcomes, all stakeholders need to work together. For the clinician-turned-entrepreneur and the serial entrepreneur now in healthcare, we provide three actionable insights to address some of the practical challenges in healthcare entrepreneurship.

• 1.

  We advise that venture teams include individuals from both entrepreneurship and healthcare backgrounds to shorten the learning curve, particularly as they develop the evidence base for the offering. Contacting entrepreneurship accelerators or university tech transfer and commercialization offices for which one may have had previous affiliations can be one approach to securing such team members.

• 2.

  Healthcare entrepreneurs should consider how to include end-user or patient participation to create new healthcare solutions. Working with relevant patient advocacy groups can be one approach and may help to increase the relevance and patient-centeredness of the solution.

• 3.

  Healthcare entrepreneurs may need to develop new business models and revenue streams. While healthcare is a human right, it requires financing to sustain offerings. One may strengthen one's “business and calling” mindset via joining healthcare entrepreneurship organizations for medical professionals, accelerators, and other local programs that support such entrepreneurial engagement in healthcare.

In addition to these insights for healthcare entrepreneurs, we include practical insights for other key actors. Corporations may incentivize partnerships that normalize co-produced innovations. Venture capitalists might develop novel funding mechanisms linked to non-traditional outcomes. Non-profit organizations can serve as interdisciplinary conveners to raise awareness of healthcare entrepreneurship needs. Policy makers might cons