Search results

This chapter conceptualizes a framework that can be applied to examine the service experiences of business tourists at luxury hotels. A synthesized literature review results in the identification of three service constructs − surprise, recovery, and sweetness − that constitute the service experiences. In the development of five propositions and in views of emotional appreciation and reciprocity, the chapter posits that emotional value from these three constructs of service experiences can enhance business tourists’ attitude of gratitude and consequently their willingness to pay a price premium. The proposed conceptual framework extends the three service constructs to, and integrates them with, a value–attitude–behavior model.

The relevance of the use of business models in the measurement of tourist experience has been questioned. Therefore, the purpose of this chapter is to suggest a theoretical framework for the development of a multi-item Business Tourist Experience Value Model.

Against the Behavioural Intentions Model of Fishbein and Ajzen (1975), an alternative Business Tourist Experience Value theoretical model is suggested. This model consists of an integration and re-assessment of different elements from a range of empirical studies.

Experiential value, satisfaction, and post-consumption behavior may play an important role in acquiring information and knowledge creation on how business tourism organizations can use a Business Tourist Experience Value model to enhance service experiences.

Due to the explorative nature of the Business Tourist Experience Value theoretical model, more empirical studies are needed to investigate, test and validate the model.

Results from the theoretical discussion support the inclusion of experiential value, satisfaction, and post-consumption behavior as part of the Business Tourist Experience Value model. Due to the magnitude of the relationships among these dimensions it is expected that the theoretical and practical implications may complement each other. Therefore business tourism managers can use these dimensions as guidelines on how to create valuable experiences for their tourists and perform better.

This theoretical model offers new practices into business tourism managers’ measurement of experiential value, satisfaction, and post-consumption behavior in a business tourism context.

The pursuit of entrepreneurial opportunities is not always successful. On the one hand, entrepreneurial failure offers an invaluable opportunity for entrepreneurs to learn about their ventures and themselves. On the other hand, entrepreneurial failure is associated with substantial financial, psychological, and social costs. When entrepreneurs fail to learn from failure, the potential value of this experience is not fully utilized and these costs will have been incurred in vain. In this chapter, the authors investigate how the stigma of failure exacerbates the various costs of failure, thereby making learning from failure much more difficult. The authors combine an analysis of interviews of 20 entrepreneurs (who had, at the time of interview, experienced failure) with an examination of archival data reflecting the legal and cultural environment around their ventures. The authors find that stigma worsens the entrepreneurs’ experience of failure, hinders their transformation of failure experience, and eventually prevents them from utilizing the lessons learnt from failure in their future entrepreneurial activities. The authors discuss the implications of the findings for the entrepreneurship research and economic policies.

Current internationalisation and international business (IB) theories are silent on the intermittent internationalising experiences of small and medium size enterprises (SMEs) from emerging economies (EEs). The aim of this chapter is to examine the role that networks play in facilitating SMEs from EEs subsequent behaviour following intermittent (exit and subsequent re-entry) internationalising experiences, and to build the theory of this process. Internationalisation of SMEs is a complex phenomenon. Utilising qualitative interview-based data from 15 Pakistani and Chinese SME entrepreneurs, industry experts and government representatives, this study concludes the following: SMEs from EEs continuously reconfigure existing products, resources and markets through networks while reducing and reviving levels of commitment with partners in international markets. Additionally, entrepreneurs from these markets proactively choose to dissolve existing relationships, withdraw from foreign markets to seek new partnerships and diversify resources to reduce foreign market uncertainty. However, some SME entrepreneurs seek to re-enter into previous markets utilising prior relationships and networks. Hence, successful management of network relationships over time is a challenge for internationalising SMEs.

Business failure is often described as a Rites of Passage for entrepreneurs. But what does this actually mean? This chapter returns to the original Rites of Passage material, from cultural ethnographers in the early twentieth century. By doing so, the author re-conceptualizes contemporary business failure as the Rites of Business Failure comprising a three-stage transitional process of separation, transition, and incorporation, which has a more socialized and a better understood role in society. Taking a sensemaking perspective, the author portrays the need for greater support for entrepreneurs as they experience business failure and re-establish their life. The author proposes many of the challenges entrepreneurs face over the Rites of Business Failure can be addressed through tailor-made training programs, networks, mentors, and role models which can all be utilized to assist people after the setback of business failure. Theoretically, the chapter contributes to literature on sensemaking and business failure. Practically, it holds implications for policy makers and practicing entrepreneurs.

The following is an introductory profile of the fastest growing firms over the three-year period of the study listed by corporate reputation ranking order. The business activities in which the firms are engaged are outlined to provide background information for the reader.

VIBu – Virtual Teams in International Business – is the name of a training concept, which is aimed at familiarizing participants with collaborating in a virtual environment. Based on the online business simulation RealGame™, participants are assigned to multicultural virtual teams that represent different companies. These companies are either competing with or depending on each other in typical business processes of an internationally operating manufacturing company. Interaction and negotiation are required throughout the whole simulation. All communication takes place via information and communication technology, mainly Skype and Skype chat. The main challenge in the environment is that participants are located in different countries and time zones all over the world. The book chapter first outlines some of the challenges of global teamwork that organizations face. We argue that students need to learn how to navigate in global teams before they leave university as they are bound to become involved in organizational global teamwork sooner rather than later. We draw on frameworks for experiential learning (e.g., Kolb's learning model, Kolb, 1984) and the constructivist learning paradigm (Lainema, 2009) to outline the learning experiences that students need to gather in order to become effective global team members. In addition, we highlight the potential for learner engagement that this approach offers. The chapter concludes by highlighting the key learning and teaching outcomes from incorporating this cutting-edge simulation technology. Furthermore, we direct the reader's attention to ways in which the simulation can be used for research purposes, international inter-university collaborations, and multidisciplinary research on teaching practices and engaged learning.

Encouraging technology-based entrepreneurship is central to the policy agendas of governmental and non-governmental economic development agencies in many industrialised and newly industrialising countries. Entrepreneurs are central to venture creation and evidence indicates that, following secondary and, typically, tertiary education, most work for one or more employers prior to establishing a technology-based venture on their own or with others. As a result of this ‘entrepreneurial apprenticeship’ many technology entrepreneurs establish businesses in their mid-to-late 30s. Developing a thorough understanding of product/service markets and devising strategies to access, serve and support customers are major challenges for founders of technology-based businesses. Ventures established by individuals or groups with relevant commercial experience benefit from the know-how and networks of their founders. This chapter explores the role of university business plan competitions in stimulating entrepreneurial activity and technology transfer from two universities in Northern Ireland by focusing on entrants in the 2007 £25k Enterprise Award Scheme business planning competition. Such initiatives tend to attract students/recent graduates and members of university staff and raise the question as to how such teams develop commercially robust ventures, given that, on the face of it, most have little or no commercial experience. Based on analysis of the business plans of the top 10 ventures from the 2007 competition this chapter explores characteristics of the entrepreneurial teams, their choice of product/service offerings and aspects of the markets they target.

Although it has been argued that overconfidence can lead to failure (Hayward et al., forthcoming), business failure can undermine assumptions about the self that are integral to (1) confidence in one's decision-making accuracy and (2) the motivation to engage in tasks.