Pub Date : 2001-09-01DOI: 10.1177/097135570101000202
H. Riquelme
This research tests the proposition that venture capitalists' insight and the high consensus found among venture capitalists (VCs) are based on a causal theory shared within the subculture. The methodology follows two non-overlapping approaches: conjoint analysis and a survey. In the first case, less experienced VCs (trainees) were asked to predict—with their subjective weightings of criteria—the senior VCs' holistic judgements to fund new business proposals. In the second approach, senior VCs and less experienced VCs were asked to rate their degree of agreement with seventy-three heuristics or rules of thumb collected within the British venture capital subculture. A control group was also used to test if agreement was beyond chance. Both correlation of predictions of VC trainees about the holistic judgements of senior VCs, and comparison of the level of agreement/disagreement with the heuris tics indicate that the VCs share consensual cognitive structures. This study discusses the implication of a consensual causal theory for the under standing of insight or introspection, attribution of blame to entrepreneurs in failed businesses, and the learning and perpetuation of the rules of thumb or heuristics within the subculture.
{"title":"Venture Capitalists' Insight, or the Ability to Describe the Formal Rules of Business Evaluation?","authors":"H. Riquelme","doi":"10.1177/097135570101000202","DOIUrl":"https://doi.org/10.1177/097135570101000202","url":null,"abstract":"This research tests the proposition that venture capitalists' insight and the high consensus found among venture capitalists (VCs) are based on a causal theory shared within the subculture. The methodology follows two non-overlapping approaches: conjoint analysis and a survey. In the first case, less experienced VCs (trainees) were asked to predict—with their subjective weightings of criteria—the senior VCs' holistic judgements to fund new business proposals. In the second approach, senior VCs and less experienced VCs were asked to rate their degree of agreement with seventy-three heuristics or rules of thumb collected within the British venture capital subculture. A control group was also used to test if agreement was beyond chance. Both correlation of predictions of VC trainees about the holistic judgements of senior VCs, and comparison of the level of agreement/disagreement with the heuris tics indicate that the VCs share consensual cognitive structures. This study discusses the implication of a consensual causal theory for the under standing of insight or introspection, attribution of blame to entrepreneurs in failed businesses, and the learning and perpetuation of the rules of thumb or heuristics within the subculture.","PeriodicalId":45394,"journal":{"name":"Journal of Entrepreneurship","volume":"308 1","pages":"143 - 159"},"PeriodicalIF":2.7,"publicationDate":"2001-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1177/097135570101000202","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"65274449","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 : 2001-09-01DOI: 10.1177/097135570101000213
will the role of the bank in practice differ from the role of the venture capitalist? Then it has to be kept in mind that the case studies used in this paper demonstrate that professionalisation of the board in the small family business may be a way to control the banks! Fourth, personal networking is especially important to consider in this context; it invites ideological bridging. Three out of the four respondents in the study explicitly stated that the different ideologies of the board chair and the entrepreneur/patriarch could be interlined because of the ’personal chemistry’ characterising their relationships. This notion of ’personal chemistry’ seems to go far beyond instrumental trust, shared respect and the fact that similarity attracts. It appears as a factor that makes personal networking generic to the creation and maintenance of the entrepreneurial process. Ideologies, by definition, are phenomena originating in society; the forces they represent can be orchestrated in the interest of the family business by way of reflecting and interacting individuals.
{"title":"Klaas, Brian S., John McClendon and Thomas W. Gainey, 'Managing HR in the Small and Medium Enterprise: The Impact of Professional Employer Organizations', Entrepreneurship Theory and Practice, vol. 25, no. 1 (Fall 2000), pp. 107-24","authors":"","doi":"10.1177/097135570101000213","DOIUrl":"https://doi.org/10.1177/097135570101000213","url":null,"abstract":"will the role of the bank in practice differ from the role of the venture capitalist? Then it has to be kept in mind that the case studies used in this paper demonstrate that professionalisation of the board in the small family business may be a way to control the banks! Fourth, personal networking is especially important to consider in this context; it invites ideological bridging. Three out of the four respondents in the study explicitly stated that the different ideologies of the board chair and the entrepreneur/patriarch could be interlined because of the ’personal chemistry’ characterising their relationships. This notion of ’personal chemistry’ seems to go far beyond instrumental trust, shared respect and the fact that similarity attracts. It appears as a factor that makes personal networking generic to the creation and maintenance of the entrepreneurial process. Ideologies, by definition, are phenomena originating in society; the forces they represent can be orchestrated in the interest of the family business by way of reflecting and interacting individuals.","PeriodicalId":45394,"journal":{"name":"Journal of Entrepreneurship","volume":"10 1","pages":"245 - 247"},"PeriodicalIF":2.7,"publicationDate":"2001-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1177/097135570101000213","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"65274674","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 : 2001-09-01DOI: 10.1177/097135570101000206
D. Sinha
{"title":"Book Reviews : Patrick Heller, The Labor of Development: Workers and the Trans formation of Capitalism in Kerala, India, Ithaca & London: Cornell University Press, 1999, pp. 277","authors":"D. Sinha","doi":"10.1177/097135570101000206","DOIUrl":"https://doi.org/10.1177/097135570101000206","url":null,"abstract":"","PeriodicalId":45394,"journal":{"name":"Journal of Entrepreneurship","volume":"10 1","pages":"223 - 227"},"PeriodicalIF":2.7,"publicationDate":"2001-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1177/097135570101000206","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"65274546","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 : 2001-09-01DOI: 10.1177/097135570101000201
K. Ramachandran
Most studies on venture capital have focused on the strategies and criteria followed by venture capitalists (VCs), and there have been only a few efforts made to study high-technology firms funded by VCs. This article reports the findings from a study of the strategies of venture capital supportedfirms particularly in areas such as tech nology, people, marketing, finance and organisational growth. It is concluded that in the case of technology intensive firms, their strategies are naturally driven by tech nology, but along with this, it is their appreciation for and application of the other functional strategies that makes them winners. The result is the creation of a unique supply of complex resources within each organisation. Many of the entrepreneurs have been able to create and sustain market pull for their products because of the synergistic effect of their resources and strategies.
{"title":"Management Strategies of Venture Capital Funded Firms","authors":"K. Ramachandran","doi":"10.1177/097135570101000201","DOIUrl":"https://doi.org/10.1177/097135570101000201","url":null,"abstract":"Most studies on venture capital have focused on the strategies and criteria followed by venture capitalists (VCs), and there have been only a few efforts made to study high-technology firms funded by VCs. This article reports the findings from a study of the strategies of venture capital supportedfirms particularly in areas such as tech nology, people, marketing, finance and organisational growth. It is concluded that in the case of technology intensive firms, their strategies are naturally driven by tech nology, but along with this, it is their appreciation for and application of the other functional strategies that makes them winners. The result is the creation of a unique supply of complex resources within each organisation. Many of the entrepreneurs have been able to create and sustain market pull for their products because of the synergistic effect of their resources and strategies.","PeriodicalId":45394,"journal":{"name":"Journal of Entrepreneurship","volume":"10 1","pages":"129 - 141"},"PeriodicalIF":2.7,"publicationDate":"2001-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1177/097135570101000201","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"65274436","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 : 2001-09-01DOI: 10.1177/097135570101000207
R. Balakrishnan
acy, and direct community participation. Ironically, the industrial sector in Kerala has remained backward despite a highly disciplined labour force. While the production base has remained underdeveloped the social relation of production has been transformed. Despotic management practices have been replaced by a sophisticated industrial regime resilient enough to adopt class compromise. Mobilisation and the act of bringing together various organised and unorganised labourers under the umbrella of unions resulted in narrowing the gap in wages between the two. It also forced the adoption of modem management techniques and an industrial reconciliation process unique to Kerala where the ’brokerage’ role of the union leaders and the politics of ’fragmented incorporation and appeasement’ on the part of the government have been kept to a minimum. Instead of the role
{"title":"Book Reviews : John T. Mentzer (ed.), Supply Chain Management, New Delhi: Res ponse Books, 2001, pp. 524","authors":"R. Balakrishnan","doi":"10.1177/097135570101000207","DOIUrl":"https://doi.org/10.1177/097135570101000207","url":null,"abstract":"acy, and direct community participation. Ironically, the industrial sector in Kerala has remained backward despite a highly disciplined labour force. While the production base has remained underdeveloped the social relation of production has been transformed. Despotic management practices have been replaced by a sophisticated industrial regime resilient enough to adopt class compromise. Mobilisation and the act of bringing together various organised and unorganised labourers under the umbrella of unions resulted in narrowing the gap in wages between the two. It also forced the adoption of modem management techniques and an industrial reconciliation process unique to Kerala where the ’brokerage’ role of the union leaders and the politics of ’fragmented incorporation and appeasement’ on the part of the government have been kept to a minimum. Instead of the role","PeriodicalId":45394,"journal":{"name":"Journal of Entrepreneurship","volume":"10 1","pages":"227 - 230"},"PeriodicalIF":2.7,"publicationDate":"2001-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1177/097135570101000207","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"65274558","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 : 2001-09-01DOI: 10.1177/097135570101000214
Richard Ettenson
venture mortality has made a significant contribution to out knowledge of mortality risk, there has been little interest in identifying how venture managers can address the risks that all new organisations face. This is a regrettable oversight given that it is unlikely that new ventures commence with the explicit expectation of failure. On the contrary, venture capitalists and managers go to great lengths to improve the prospects of success of the projects they support, and it is reasonable to think that they are not just indulging in ’wishful thinking’ by doing so. This paper focuses on the common emphasis of prior researchinformational limitations of new ventures-and suggests that new ven-
{"title":"Shepherd, Dean A., Richard Ettenson and Andrew Crouch, 'New Venture Strategy and Profitability: A Venture Capitalists Assess ment', Journal of Business Venture, vol. 15, no. 5/6 (September- November 2000), pp. 449-67","authors":"Richard Ettenson","doi":"10.1177/097135570101000214","DOIUrl":"https://doi.org/10.1177/097135570101000214","url":null,"abstract":"venture mortality has made a significant contribution to out knowledge of mortality risk, there has been little interest in identifying how venture managers can address the risks that all new organisations face. This is a regrettable oversight given that it is unlikely that new ventures commence with the explicit expectation of failure. On the contrary, venture capitalists and managers go to great lengths to improve the prospects of success of the projects they support, and it is reasonable to think that they are not just indulging in ’wishful thinking’ by doing so. This paper focuses on the common emphasis of prior researchinformational limitations of new ventures-and suggests that new ven-","PeriodicalId":45394,"journal":{"name":"Journal of Entrepreneurship","volume":"109 1","pages":"248 - 250"},"PeriodicalIF":2.7,"publicationDate":"2001-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1177/097135570101000214","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"65274689","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 : 2001-09-01DOI: 10.1177/097135570101000216
K. Ramaswamy
even to isolate the firm from technology and markets. While exploratory in nature, this work provides direction for future research. Obviously the sample size needs to be expanded, for with a larger sample further insights into the various variables may be generated. Very little research has been done on female or black entrepreneurs in South Africa. It may be of value to explore the personality traits of black and female owners to see whether their tolerance of ambiguity, locus of control and risk-taking propensities are significantly different, given their different educational background and life experiences. One could more precisely define the sample size in terms of stages of growth and size of the organisation, for it may well be that adaptation is influenced by age of the venture and experience in a particular industry. The impact of environmental factors on behaviour also warrants attention, and it may be appropriate to develop a model which is more interactive, that takes into account the impact of the entrepreneurial personality as well as the impact of the environment on the behaviour of entrepreneurs. Intolerance of ambiguity warrants further investigation, particularly the relationship between environmental turbulence, intolerance of ambiguity, and the degree of adaptation of the business. It would be insightful to assess levels of market orientation and the mode of operation in terms of the strategic focus of the organisation and then connect these to both the predictive and outcome variables used in this study. Finally, more work is needed in developing and validating the measure of adaptation, and ascertaining the underlying dimensionality of this construct.
{"title":"Veliyath, Rajaram and Kannan Ramaswamy, 'Social Embeddedness, Overt and Covert Power, and Their Effects on CEO Pay: An Empirical Examination Among Family Businesses in India', Family Business Review, vol. 13, no. 4 (December 2000), pp.293-311","authors":"K. Ramaswamy","doi":"10.1177/097135570101000216","DOIUrl":"https://doi.org/10.1177/097135570101000216","url":null,"abstract":"even to isolate the firm from technology and markets. While exploratory in nature, this work provides direction for future research. Obviously the sample size needs to be expanded, for with a larger sample further insights into the various variables may be generated. Very little research has been done on female or black entrepreneurs in South Africa. It may be of value to explore the personality traits of black and female owners to see whether their tolerance of ambiguity, locus of control and risk-taking propensities are significantly different, given their different educational background and life experiences. One could more precisely define the sample size in terms of stages of growth and size of the organisation, for it may well be that adaptation is influenced by age of the venture and experience in a particular industry. The impact of environmental factors on behaviour also warrants attention, and it may be appropriate to develop a model which is more interactive, that takes into account the impact of the entrepreneurial personality as well as the impact of the environment on the behaviour of entrepreneurs. Intolerance of ambiguity warrants further investigation, particularly the relationship between environmental turbulence, intolerance of ambiguity, and the degree of adaptation of the business. It would be insightful to assess levels of market orientation and the mode of operation in terms of the strategic focus of the organisation and then connect these to both the predictive and outcome variables used in this study. Finally, more work is needed in developing and validating the measure of adaptation, and ascertaining the underlying dimensionality of this construct.","PeriodicalId":45394,"journal":{"name":"Journal of Entrepreneurship","volume":"10 1","pages":"252 - 254"},"PeriodicalIF":2.7,"publicationDate":"2001-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1177/097135570101000216","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"65274758","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 : 2001-09-01DOI: 10.1177/097135570101000204
G. Bal, P. S. Judge
This article aims at describing the process whereby entrepreneurship among members belonging to a particular caste and religion emerged as a result of terrorism. Rural entrepreneurship saw drastic changes during the last two decades. The once dominant business class found themselves in a situation where it was difficult for them to oper ate. The subversive activities—a resultant of terrorism—created panic and induced many to close down their family run businesses and proceed to urban areas in search of safer environments. Their vacuum was filled up by the agricultural class, which as a result of the green revolution was economically emerging as an entity to reckon with. The Jat Sikhs were the beneficiaries of this revolution. Terrorism paved their entry into the domain of business. Using a case study methodology, the authors have documented the process as it happened in one village. The authors argue that similar situations could also be witnessed in rural Punjab as well. This article therefore points out the significance of political factors, which the authors argue, cannot be ignored in any study on entrepreneurial development. Similar situations are seen almost all across. The new social groups, as the authors put forth, do not observe the rules of the game. The process of intimidating the well-established social and economic groups from all walks of life through adoption of violence has become the order of the day. The authors are very critical of the disharmony and the imbalance that such processes will create.
{"title":"Terrorism and Rural Entrepreneurship in Punjab","authors":"G. Bal, P. S. Judge","doi":"10.1177/097135570101000204","DOIUrl":"https://doi.org/10.1177/097135570101000204","url":null,"abstract":"This article aims at describing the process whereby entrepreneurship among members belonging to a particular caste and religion emerged as a result of terrorism. Rural entrepreneurship saw drastic changes during the last two decades. The once dominant business class found themselves in a situation where it was difficult for them to oper ate. The subversive activities—a resultant of terrorism—created panic and induced many to close down their family run businesses and proceed to urban areas in search of safer environments. Their vacuum was filled up by the agricultural class, which as a result of the green revolution was economically emerging as an entity to reckon with. The Jat Sikhs were the beneficiaries of this revolution. Terrorism paved their entry into the domain of business. Using a case study methodology, the authors have documented the process as it happened in one village. The authors argue that similar situations could also be witnessed in rural Punjab as well. This article therefore points out the significance of political factors, which the authors argue, cannot be ignored in any study on entrepreneurial development. Similar situations are seen almost all across. The new social groups, as the authors put forth, do not observe the rules of the game. The process of intimidating the well-established social and economic groups from all walks of life through adoption of violence has become the order of the day. The authors are very critical of the disharmony and the imbalance that such processes will create.","PeriodicalId":45394,"journal":{"name":"Journal of Entrepreneurship","volume":"205 1","pages":"191 - 208"},"PeriodicalIF":2.7,"publicationDate":"2001-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1177/097135570101000204","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"65274496","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 : 2001-09-01DOI: 10.1177/097135570101000215
assess a business’ risk premium. Although researchers must distinguish mortality risk from other decision criteria bankers may also use to determine a risk premium. Another operationalisation of mortality risk might arise from using established accounting failure ratios to analyse a new venture’s fmancial statements and calculate the probability of failurethe higher the probability of failure, the higher the mortality risk. Measures of novelty might come from surveying key people within the market (for market novelty), production (for production novelty), and management (for management novelty). Objective measures may also be appropriate-management novelty might include the number of years of experience in this industry or a related industry or the number of ’start ups’ in which the management team has been involved. Of course, these operationalisations can be combined to provide triangulation of the measure. In sum, this paper provides a model of mortality risk arising from a multidimensional perspective of novelty and argues that the decisions and actions of the new venture manager can influence an ‘evolutionary’ mortality risk pattern.
{"title":"Pitt Leyland F., and Rushieda Kannemeyer, 'The Role of Adaptation in Microenterprise Development: A Marketing Perspective', Journal of Development Entrepreneurship, vol. 5, no. 2 (August 2000), pp.137-55","authors":"","doi":"10.1177/097135570101000215","DOIUrl":"https://doi.org/10.1177/097135570101000215","url":null,"abstract":"assess a business’ risk premium. Although researchers must distinguish mortality risk from other decision criteria bankers may also use to determine a risk premium. Another operationalisation of mortality risk might arise from using established accounting failure ratios to analyse a new venture’s fmancial statements and calculate the probability of failurethe higher the probability of failure, the higher the mortality risk. Measures of novelty might come from surveying key people within the market (for market novelty), production (for production novelty), and management (for management novelty). Objective measures may also be appropriate-management novelty might include the number of years of experience in this industry or a related industry or the number of ’start ups’ in which the management team has been involved. Of course, these operationalisations can be combined to provide triangulation of the measure. In sum, this paper provides a model of mortality risk arising from a multidimensional perspective of novelty and argues that the decisions and actions of the new venture manager can influence an ‘evolutionary’ mortality risk pattern.","PeriodicalId":45394,"journal":{"name":"Journal of Entrepreneurship","volume":"10 1","pages":"250 - 252"},"PeriodicalIF":2.7,"publicationDate":"2001-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1177/097135570101000215","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"65274705","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 : 2001-03-01DOI: 10.1177/097135570101000108
M. Manimala
Economies progress from primary (agricultural) through secondary (industrial) to the tertiary (service) sector. The transition at each stage is facilitated by a mastery of the technology which goes beyond the basic minimum needs of manufacture/production, and enables innovation in the technology/process of manufacture itself. In other words, the economy should not only know ’how to make’ but also know ’how to make better’. It is common knowledge that the Indian economy has traditionally focused its attention more on securing the ’know-how’ of manufacture/ production than the ’know-why’, and in the process missed out on innovation and thereby the impetus for the real progress of the economy. Nasir Tyabji’s book provides a historical analysis of the evolution of the Indian industry with a view to highlighting the factors that have contributed to the lack of innovativeness in the Indian economy, especially its manufacturing sector. As mentioned in the preface, the book is an outcome of the research done by the author during a senior fellowship awarded to him by the Nehru Memorial Museum and Library (NMML). The six chapters of the book are articles (or parts of them) written by the author on differ-
{"title":"Book Reviews : Nasir Tyabji, Industrializatiort and Innovation: The Indian Experience, New Delhi, Sage Publications, 2000, 162 pp","authors":"M. Manimala","doi":"10.1177/097135570101000108","DOIUrl":"https://doi.org/10.1177/097135570101000108","url":null,"abstract":"Economies progress from primary (agricultural) through secondary (industrial) to the tertiary (service) sector. The transition at each stage is facilitated by a mastery of the technology which goes beyond the basic minimum needs of manufacture/production, and enables innovation in the technology/process of manufacture itself. In other words, the economy should not only know ’how to make’ but also know ’how to make better’. It is common knowledge that the Indian economy has traditionally focused its attention more on securing the ’know-how’ of manufacture/ production than the ’know-why’, and in the process missed out on innovation and thereby the impetus for the real progress of the economy. Nasir Tyabji’s book provides a historical analysis of the evolution of the Indian industry with a view to highlighting the factors that have contributed to the lack of innovativeness in the Indian economy, especially its manufacturing sector. As mentioned in the preface, the book is an outcome of the research done by the author during a senior fellowship awarded to him by the Nehru Memorial Museum and Library (NMML). The six chapters of the book are articles (or parts of them) written by the author on differ-","PeriodicalId":45394,"journal":{"name":"Journal of Entrepreneurship","volume":"10 1","pages":"100 - 98"},"PeriodicalIF":2.7,"publicationDate":"2001-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1177/097135570101000108","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"65274845","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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