Pub Date : 2022-09-02DOI: 10.1080/13215906.2022.2113742
Anna Vuorio, A. Faroque, O. Kuivalainen
ABSTRACT Internationalization requires a distinct set of managerial capabilities and company resources. Despite a call for examining the impact of cognitive capabilities on international entrepreneurship, only a few studies have attempted to do so. Since international entrepreneurship starts with opportunity recognition, attention should be paid to this first step in the internationalization process. However, the ability to recognize international entrepreneurial opportunity is not enough by itself, but rather it needs to be supported by other cognitive factors. COVID-19 has put specific pressure on entrepreneurs highlighting their ability to actively respond to changes and persist under uncertainty. This research aims to examine the difference in drivers of early and late internationalization and their impact on international performance by analyzing 50 Finnish small- and medium-sized enterprises via fuzzy-set qualitative comparative analysis. The results suggest two distinct configurations that are connected to early internationalization and one configuration that is connected to late internationalization.
{"title":"The role of slack resources and managerial capabilities in early and late internationalization: a configurational approach","authors":"Anna Vuorio, A. Faroque, O. Kuivalainen","doi":"10.1080/13215906.2022.2113742","DOIUrl":"https://doi.org/10.1080/13215906.2022.2113742","url":null,"abstract":"ABSTRACT Internationalization requires a distinct set of managerial capabilities and company resources. Despite a call for examining the impact of cognitive capabilities on international entrepreneurship, only a few studies have attempted to do so. Since international entrepreneurship starts with opportunity recognition, attention should be paid to this first step in the internationalization process. However, the ability to recognize international entrepreneurial opportunity is not enough by itself, but rather it needs to be supported by other cognitive factors. COVID-19 has put specific pressure on entrepreneurs highlighting their ability to actively respond to changes and persist under uncertainty. This research aims to examine the difference in drivers of early and late internationalization and their impact on international performance by analyzing 50 Finnish small- and medium-sized enterprises via fuzzy-set qualitative comparative analysis. The results suggest two distinct configurations that are connected to early internationalization and one configuration that is connected to late internationalization.","PeriodicalId":45085,"journal":{"name":"Small Enterprise Research","volume":"1 1","pages":"227 - 249"},"PeriodicalIF":1.7,"publicationDate":"2022-09-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77809287","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-09-02DOI: 10.1080/13215906.2022.2134191
R. Henn, O. Terzidis, Katherina Kuschel, J. Leiva, C. Alsua
ABSTRACT The concept of resilience has been recently integrated into the entrepreneurial ecosystem (EE) approach, as regional economies are pressured to raise their robustness against exogenous and endogenous crises. However, the Global South, particularly Latin American countries, has unique business dynamics and paradoxes due to the informal economy, weak institutions, low level of innovation, yet high level of entrepreneurial activity and economic growth. In this study, we conducted thirty-five semi-structured expert interviews in the capital cities of Costa Rica, Peru, Chile, and Argentina. In doing so, we aim to understand the vision and strategies regarding ecosystem development in those territories, from public and private actors. Furthermore, we apply an evolutionary perspective to identify challenges or barriers to achieving resilient growth, and how to overcome these obstacles. Finally, this study extends the current literature on EE by adding three dynamics for developing resilient EEs; early internationalization strategies, digitalization, and trust-building.
{"title":"One step back, two steps forward: internationalization strategies and the resilient growth of entrepreneurial ecosystems","authors":"R. Henn, O. Terzidis, Katherina Kuschel, J. Leiva, C. Alsua","doi":"10.1080/13215906.2022.2134191","DOIUrl":"https://doi.org/10.1080/13215906.2022.2134191","url":null,"abstract":"ABSTRACT The concept of resilience has been recently integrated into the entrepreneurial ecosystem (EE) approach, as regional economies are pressured to raise their robustness against exogenous and endogenous crises. However, the Global South, particularly Latin American countries, has unique business dynamics and paradoxes due to the informal economy, weak institutions, low level of innovation, yet high level of entrepreneurial activity and economic growth. In this study, we conducted thirty-five semi-structured expert interviews in the capital cities of Costa Rica, Peru, Chile, and Argentina. In doing so, we aim to understand the vision and strategies regarding ecosystem development in those territories, from public and private actors. Furthermore, we apply an evolutionary perspective to identify challenges or barriers to achieving resilient growth, and how to overcome these obstacles. Finally, this study extends the current literature on EE by adding three dynamics for developing resilient EEs; early internationalization strategies, digitalization, and trust-building.","PeriodicalId":45085,"journal":{"name":"Small Enterprise Research","volume":"109 2 1","pages":"273 - 307"},"PeriodicalIF":1.7,"publicationDate":"2022-09-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72887518","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-09-02DOI: 10.1080/13215906.2022.2146173
Lasse Torkkeli, Sharon Loane
International entrepreneurship is the pursuit of entrepreneurial opportunities across national borders (Reuber et al., 2018), behaviourally a combination of innovative, proactive and risk-seeking behaviours that crosses national borders and is intended to create value in organizations (McDougall & Oviatt, 2000). Agile and resilient entrepreneurial firms and individuals are able to take advantage of their international entrepreneurial orientation and find international opportunities even in times of global uncertainty, such as the COVID-19 pandemic conditions (Torkkeli, 2021a; Torkkeli, 2021b ; Zahra, 2020a). In such environments characterized by high volatility and uncertainty, the role of entrepreneurial resilience (Bullough et al., 2014; Bullough & Renko, 2013) can differentiate between survival and failure of enterprises, and the speed with which international new ventures can learn can determine their growth and survival in the long term (Zahra, 2020a). The uncertainty brought on by crises and external shocks also presents opportunities to firms for digitalization and business model change (Seetharaman, 2020), provided that they are resilient enough to seize those opportunities and have the self-efficacy needed to cope with the uncertainty (Torkkeli et al., 2021). While internationalization is a risky process, it can also be a risk diversification strategy for small entrepreneurial firms (Saarenketo et al., 2022). Having an international outlook and orientation are crucial for them to develop resilience needed for international growth (Boso et al., 2017). It is with this backdrop that the present special issue in Small Enterprise Research focusing on resilient growth in international entrepreneurship is published. The collection of articles in this special issue shed light on how resilience and growth are manifested and interlinked in international entrepreneurship during times of uncertainty and political turbulence (cf. Zahra, 2020b; Zahra, 2022). The five empirical studies comprising the special issue address the concepts on resilience and growth in international entrepreneurship from several theoretical perspectives, units of analysis and through a diverse set of country contexts.
国际创业是跨越国界追求创业机会(Reuber et al.， 2018)，在行为上是跨越国界的创新、主动和风险寻求行为的结合，旨在为组织创造价值(McDougall & Oviatt, 2000)。敏捷和有弹性的创业公司和个人能够利用其国际创业取向，即使在全球不确定时期，如COVID-19大流行的情况下，也能找到国际机会(Torkkeli, 2021a;托尔克利，2021b;Zahra, 2020)。在这种具有高波动性和不确定性的环境中，创业弹性的作用(Bullough et al.， 2014;Bullough & Renko, 2013)可以区分企业的生存和失败，国际新创企业学习的速度可以决定其长期的成长和生存(Zahra, 2020a)。危机和外部冲击带来的不确定性也为企业提供了数字化和商业模式变革的机会(Seetharaman, 2020)，前提是他们有足够的弹性来抓住这些机会，并具有应对不确定性所需的自我效能感(Torkkeli等人，2021)。虽然国际化是一个有风险的过程，但它也可以是小型创业公司的风险分散策略(Saarenketo et al.， 2022)。拥有国际视野和方向对他们发展国际增长所需的弹性至关重要(Boso等人，2017)。正是在这样的背景下，《小企业研究》的本期特刊聚焦于国际企业家精神的弹性增长。本期特刊的文章集揭示了在不确定和政治动荡时期，国际企业家精神如何表现出复原力和增长并相互联系(参见Zahra, 2020b;Zahra, 2022)。包括本期特刊在内的五项实证研究从若干理论角度、分析单位和一系列不同的国家背景探讨了国际企业家精神中复原力和增长的概念。
{"title":"Resilient growth in international entrepreneurship","authors":"Lasse Torkkeli, Sharon Loane","doi":"10.1080/13215906.2022.2146173","DOIUrl":"https://doi.org/10.1080/13215906.2022.2146173","url":null,"abstract":"International entrepreneurship is the pursuit of entrepreneurial opportunities across national borders (Reuber et al., 2018), behaviourally a combination of innovative, proactive and risk-seeking behaviours that crosses national borders and is intended to create value in organizations (McDougall & Oviatt, 2000). Agile and resilient entrepreneurial firms and individuals are able to take advantage of their international entrepreneurial orientation and find international opportunities even in times of global uncertainty, such as the COVID-19 pandemic conditions (Torkkeli, 2021a; Torkkeli, 2021b ; Zahra, 2020a). In such environments characterized by high volatility and uncertainty, the role of entrepreneurial resilience (Bullough et al., 2014; Bullough & Renko, 2013) can differentiate between survival and failure of enterprises, and the speed with which international new ventures can learn can determine their growth and survival in the long term (Zahra, 2020a). The uncertainty brought on by crises and external shocks also presents opportunities to firms for digitalization and business model change (Seetharaman, 2020), provided that they are resilient enough to seize those opportunities and have the self-efficacy needed to cope with the uncertainty (Torkkeli et al., 2021). While internationalization is a risky process, it can also be a risk diversification strategy for small entrepreneurial firms (Saarenketo et al., 2022). Having an international outlook and orientation are crucial for them to develop resilience needed for international growth (Boso et al., 2017). It is with this backdrop that the present special issue in Small Enterprise Research focusing on resilient growth in international entrepreneurship is published. The collection of articles in this special issue shed light on how resilience and growth are manifested and interlinked in international entrepreneurship during times of uncertainty and political turbulence (cf. Zahra, 2020b; Zahra, 2022). The five empirical studies comprising the special issue address the concepts on resilience and growth in international entrepreneurship from several theoretical perspectives, units of analysis and through a diverse set of country contexts.","PeriodicalId":45085,"journal":{"name":"Small Enterprise Research","volume":"12 1","pages":"199 - 204"},"PeriodicalIF":1.7,"publicationDate":"2022-09-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83987199","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-08-30DOI: 10.1080/13215906.2022.2112924
U. Salmon
ABSTRACT This paper explores insights from a recent entrepreneurship education programme in Stoke-on-Trent and Staffordshire, an economically deprived region of the UK. An arts-based pedagogical innovation, Cultural Animation (CA), is evaluated for its learning outcomes. The case study explores the specific benefits of this pedagogy for improving the skills of SME owner-managers. Taking an ethnographic approach, a series of CA sessions are analysed to understand their benefits for SME owner-managers. The findings are that CA generates three significant learning outcomes: the development of social ties; the encouragement of peer learning and the creation of a sense of equality amongst participants. This paper contributes to the research on arts-based pedagogies in entrepreneurship education. The findings have applicability to policymakers and entrepreneurship education providers, particularly in economically depressed regions where a lack of social connection is considered to be an obstacle to growth.
{"title":"An evaluation of an arts-based pedagogy: the benefits of cultural animation for SME owners in an economically deprived region","authors":"U. Salmon","doi":"10.1080/13215906.2022.2112924","DOIUrl":"https://doi.org/10.1080/13215906.2022.2112924","url":null,"abstract":"ABSTRACT This paper explores insights from a recent entrepreneurship education programme in Stoke-on-Trent and Staffordshire, an economically deprived region of the UK. An arts-based pedagogical innovation, Cultural Animation (CA), is evaluated for its learning outcomes. The case study explores the specific benefits of this pedagogy for improving the skills of SME owner-managers. Taking an ethnographic approach, a series of CA sessions are analysed to understand their benefits for SME owner-managers. The findings are that CA generates three significant learning outcomes: the development of social ties; the encouragement of peer learning and the creation of a sense of equality amongst participants. This paper contributes to the research on arts-based pedagogies in entrepreneurship education. The findings have applicability to policymakers and entrepreneurship education providers, particularly in economically depressed regions where a lack of social connection is considered to be an obstacle to growth.","PeriodicalId":45085,"journal":{"name":"Small Enterprise Research","volume":"39 1","pages":"190 - 213"},"PeriodicalIF":1.7,"publicationDate":"2022-08-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79707043","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-08-18DOI: 10.1080/13215906.2022.2112923
Anthony Abiodun Eniola
ABSTRACT Specialized literature reveals that the level of absorptive capacity (ACAP) within organizations depends on the individuals who are at the company's interface with the external environment or at the interface between the company's subunits. It also highlights that some individuals assume relatively centralized gatekeeper roles. The study argues that individual ACAP precedes organizational ACAP, as it is necessary to understand the role of individuals in the capacity of companies to absorb external knowledge. The purpose of this article is to explore the role of owner-managers of small family businesses in ACAP. The exploratory research method uses case studies. The results show that small family business owner-managers have the qualities of gatekeepers and that, even though they help with communication and knowledge transfer across company borders and increase their ACAP, these professionals have limited roles as gatekeepers because of their family ties and affective-emotional matters.
{"title":"Extending the absorptive capacity of the small family entrepreneurs and managers as gatekeepers","authors":"Anthony Abiodun Eniola","doi":"10.1080/13215906.2022.2112923","DOIUrl":"https://doi.org/10.1080/13215906.2022.2112923","url":null,"abstract":"ABSTRACT Specialized literature reveals that the level of absorptive capacity (ACAP) within organizations depends on the individuals who are at the company's interface with the external environment or at the interface between the company's subunits. It also highlights that some individuals assume relatively centralized gatekeeper roles. The study argues that individual ACAP precedes organizational ACAP, as it is necessary to understand the role of individuals in the capacity of companies to absorb external knowledge. The purpose of this article is to explore the role of owner-managers of small family businesses in ACAP. The exploratory research method uses case studies. The results show that small family business owner-managers have the qualities of gatekeepers and that, even though they help with communication and knowledge transfer across company borders and increase their ACAP, these professionals have limited roles as gatekeepers because of their family ties and affective-emotional matters.","PeriodicalId":45085,"journal":{"name":"Small Enterprise Research","volume":"94 1","pages":"171 - 189"},"PeriodicalIF":1.7,"publicationDate":"2022-08-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76845228","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-07-13DOI: 10.1080/13215906.2022.2092890
T. Eriksson, Marikka Heikkilä, N. Nummela
ABSTRACT Our knowledge concerning the link between internationalization and business model innovation remains limited. This study investigates the change in small and medium-sized enterprises (SMEs) searching for organizational resilience. It particularly focuses on discovering how SMEs innovate their business models when seeking organisational resilience through international growth. In order to answer this research question, we conducted a multiple-case study of three Finnish SMEs. The critical sources of resilience were digitalization, strategic collaboration, customer intimacy, agile use of resources/expertise, and an improved revenue model. For all the case firms, significant business model innovation was required for resilient international growth. Based on the study findings, a new concept is proposed for future research: SME international resilience.
{"title":"Business model innovation for resilient international growth","authors":"T. Eriksson, Marikka Heikkilä, N. Nummela","doi":"10.1080/13215906.2022.2092890","DOIUrl":"https://doi.org/10.1080/13215906.2022.2092890","url":null,"abstract":"ABSTRACT Our knowledge concerning the link between internationalization and business model innovation remains limited. This study investigates the change in small and medium-sized enterprises (SMEs) searching for organizational resilience. It particularly focuses on discovering how SMEs innovate their business models when seeking organisational resilience through international growth. In order to answer this research question, we conducted a multiple-case study of three Finnish SMEs. The critical sources of resilience were digitalization, strategic collaboration, customer intimacy, agile use of resources/expertise, and an improved revenue model. For all the case firms, significant business model innovation was required for resilient international growth. Based on the study findings, a new concept is proposed for future research: SME international resilience.","PeriodicalId":45085,"journal":{"name":"Small Enterprise Research","volume":"36 1","pages":"205 - 226"},"PeriodicalIF":1.7,"publicationDate":"2022-07-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72649063","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-07-13DOI: 10.1080/13215906.2022.2092888
S. Darcy, J. Collins, M. Stronach
ABSTRACT The study of people with disability who become entrepreneurs has been a neglected field of research but with a developing body of knowledge from different countries around the world over the last two decades. This paper aims to contribute to that body of knowledge through examining the journeys of entrepreneurs with disability (EwD) in Australia. It does so through a theoretical framework guided by the minority entrepreneurship literature, their lived experiences through social model understandings of disability and a social ecology framework. The research design involved interviews with 60 EwD with the findings examining their motivations, barriers, enablers, outcomes and benefits. The discussion examines the social, economic and cultural embeddedness of EwD’s journey, the paradox of their higher rates of entrepreneurship than the nondisabled and the entrepreneurial ecosystem. We conclude by outlining the contribution this study makes to disability entrepreneurship through the complexity revealed by the social ecological framework.
{"title":"Entrepreneurs with disability: Australian insights through a social ecology lens","authors":"S. Darcy, J. Collins, M. Stronach","doi":"10.1080/13215906.2022.2092888","DOIUrl":"https://doi.org/10.1080/13215906.2022.2092888","url":null,"abstract":"ABSTRACT The study of people with disability who become entrepreneurs has been a neglected field of research but with a developing body of knowledge from different countries around the world over the last two decades. This paper aims to contribute to that body of knowledge through examining the journeys of entrepreneurs with disability (EwD) in Australia. It does so through a theoretical framework guided by the minority entrepreneurship literature, their lived experiences through social model understandings of disability and a social ecology framework. The research design involved interviews with 60 EwD with the findings examining their motivations, barriers, enablers, outcomes and benefits. The discussion examines the social, economic and cultural embeddedness of EwD’s journey, the paradox of their higher rates of entrepreneurship than the nondisabled and the entrepreneurial ecosystem. We conclude by outlining the contribution this study makes to disability entrepreneurship through the complexity revealed by the social ecological framework.","PeriodicalId":45085,"journal":{"name":"Small Enterprise Research","volume":"80 1","pages":"24 - 48"},"PeriodicalIF":1.7,"publicationDate":"2022-07-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82269017","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-06-12DOI: 10.1080/13215906.2022.2086610
M. L. Teklehaimanot, Elias Orebo Kamebo, Giday Gebrehiwot Gebremichael
ABSTRACT Many sub-Saharan African countries promote micro, small and medium enterprises (MSMEs) to play crucial roles in Africa's socio-economic development. However, evidence from previous research highlights that enterprises remain informal, small, and with low performance due to the formidable challenges. Previous efforts that attempt to understand what challenges/determines the enterprises' performance considerably focus on factors outside the MSMEs, with little attention to the enterprises' own market and customer-focused activities. The current study examines the effect of the enterprises' market-focused activities on their performance by conducting an empirical survey among 150 enterprises in Ethiopia. Apart from extending the conceptualization on the role of market-focused practices, the study suggests development workers complement their efforts by backing the enterprises' endeavours to entirely focus on customer-centric operations.
{"title":"Customer – Centric informal business marketing in Africa: the case of Ethiopian MSMEs","authors":"M. L. Teklehaimanot, Elias Orebo Kamebo, Giday Gebrehiwot Gebremichael","doi":"10.1080/13215906.2022.2086610","DOIUrl":"https://doi.org/10.1080/13215906.2022.2086610","url":null,"abstract":"ABSTRACT Many sub-Saharan African countries promote micro, small and medium enterprises (MSMEs) to play crucial roles in Africa's socio-economic development. However, evidence from previous research highlights that enterprises remain informal, small, and with low performance due to the formidable challenges. Previous efforts that attempt to understand what challenges/determines the enterprises' performance considerably focus on factors outside the MSMEs, with little attention to the enterprises' own market and customer-focused activities. The current study examines the effect of the enterprises' market-focused activities on their performance by conducting an empirical survey among 150 enterprises in Ethiopia. Apart from extending the conceptualization on the role of market-focused practices, the study suggests development workers complement their efforts by backing the enterprises' endeavours to entirely focus on customer-centric operations.","PeriodicalId":45085,"journal":{"name":"Small Enterprise Research","volume":"15 1","pages":"154 - 170"},"PeriodicalIF":1.7,"publicationDate":"2022-06-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85041698","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-05-04DOI: 10.1080/13215906.2022.2092889
Mojca Svetek, Mateja Drnovšek
Abstract To date, much of the research on early-stage equity investing has revolved around the question of whether early-stage equity investors place more importance on the entrepreneur (jockey) or the business opportunity (horse). Yet research has failed to agree on the relative importance of these two aspects of investment opportunity. The purpose of this study is to clarify how early-stage equity investors use available information about the entrepreneur and the business opportunity to make investment decisions. We analysed empirical data from semi-structured interviews with experienced early-stage equity investors active in Europe. In the analysis, we followed the twin slate approach, which accounts for literature review in the analytical process. Our results suggest that investors make sense of the business opportunity as a whole by integrating information about the entrepreneur and the business opportunity. We identified four aspects of early-stage investor decision-making that led us to conclude that investors’ evaluation of investment opportunities is holistic in nature. The study offers a number of practical implications for investors and entrepreneurs and enriches ongoing discussions about early-stage investors’ investment criteria.
{"title":"The jockey on the horse: what makes a winning ride in the eyes of early-stage investors?","authors":"Mojca Svetek, Mateja Drnovšek","doi":"10.1080/13215906.2022.2092889","DOIUrl":"https://doi.org/10.1080/13215906.2022.2092889","url":null,"abstract":"Abstract To date, much of the research on early-stage equity investing has revolved around the question of whether early-stage equity investors place more importance on the entrepreneur (jockey) or the business opportunity (horse). Yet research has failed to agree on the relative importance of these two aspects of investment opportunity. The purpose of this study is to clarify how early-stage equity investors use available information about the entrepreneur and the business opportunity to make investment decisions. We analysed empirical data from semi-structured interviews with experienced early-stage equity investors active in Europe. In the analysis, we followed the twin slate approach, which accounts for literature review in the analytical process. Our results suggest that investors make sense of the business opportunity as a whole by integrating information about the entrepreneur and the business opportunity. We identified four aspects of early-stage investor decision-making that led us to conclude that investors’ evaluation of investment opportunities is holistic in nature. The study offers a number of practical implications for investors and entrepreneurs and enriches ongoing discussions about early-stage investors’ investment criteria.","PeriodicalId":45085,"journal":{"name":"Small Enterprise Research","volume":"4048 4 1","pages":"165 - 189"},"PeriodicalIF":1.7,"publicationDate":"2022-05-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86734303","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-05-04DOI: 10.1080/13215906.2022.2089909
J. Ahmed, Q. T. Islam, Asma Ahmed, Sarika Iqbal
ABSTRACT This case discusses Ivory Coast's floating island resort – L'île Flottante, a sustainable tourism initiative in Abidjan that innovatively reuses single-use plastic products to address irresponsible consumption of single-use plastic and raise awareness through ecotourism. Innovative entrepreneurial initiatives like these are essential towards sustainable development. Sustainable Development Goal 12 (SDG 12) addresses this concern of responsible consumption focusing on growth that does not put the future of this planet at risk. The consumers also have a major role to play in adapting to and inspiring sustainable and socially motivated business ideas like L'île Flottante. Scaling up such initiatives and implementing them across different industries can address concerns and promote sustainable development and economic growth.
本案例讨论了科特迪瓦的浮动岛度假胜地- L' 勒弗洛特特，这是阿比让的一个可持续旅游倡议，创新地重复使用一次性塑料产品，以解决不负责任的一次性塑料消费问题，并通过生态旅游提高人们的意识。这类创新的企业举措对可持续发展至关重要。可持续发展目标12 (SDG 12)解决了这一问题，即关注于不危及地球未来的增长的负责任消费。消费者在适应和激励像L' le Flottante这样的可持续和社会激励的商业理念方面也发挥着重要作用。扩大此类举措并在不同行业实施，可以解决人们的关切，促进可持续发展和经济增长。
{"title":"L'île Flottante: Ivory Coast's eco-friendly sustainable floating island resort","authors":"J. Ahmed, Q. T. Islam, Asma Ahmed, Sarika Iqbal","doi":"10.1080/13215906.2022.2089909","DOIUrl":"https://doi.org/10.1080/13215906.2022.2089909","url":null,"abstract":"ABSTRACT This case discusses Ivory Coast's floating island resort – L'île Flottante, a sustainable tourism initiative in Abidjan that innovatively reuses single-use plastic products to address irresponsible consumption of single-use plastic and raise awareness through ecotourism. Innovative entrepreneurial initiatives like these are essential towards sustainable development. Sustainable Development Goal 12 (SDG 12) addresses this concern of responsible consumption focusing on growth that does not put the future of this planet at risk. The consumers also have a major role to play in adapting to and inspiring sustainable and socially motivated business ideas like L'île Flottante. Scaling up such initiatives and implementing them across different industries can address concerns and promote sustainable development and economic growth.","PeriodicalId":45085,"journal":{"name":"Small Enterprise Research","volume":"27 1","pages":"190 - 198"},"PeriodicalIF":1.7,"publicationDate":"2022-05-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89340918","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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