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Tourism development, emerging market entrepreneurship.
This case may be used in lower or upper division courses. Lower division courses may want to focus on the elementary issues of project planning, business plan development, and marketing. Upper division courses will find opportunities to enhance the discussion with ethical dilemmas and more advanced business plan development.
The case takes place in a nature conservancy in Namibia. A local villager wants to open an attraction portraying local customs, traditions, art, and dance for tourists. This case can be used as an introductory strategy case study in at least three types of classes, strategic management, entrepreneurship, or hospitality management. The case presents many opportunities for students to analyze various business topics, including start-up financing, competitive and industry analysis, questions of pricing, product, and promotion, government relations, tourism development, and ethics. It is designed to be taught in either a 1 hour class or a 1.5 hour class with student preparation taking between 2 and 3 hours depending on the questions assigned. If students are asked to complete a business plan the preparation and discussion time will be longer.
Expected learning outcomes
Students will demonstrate ability to prepare a business plan, conduct market research, and evaluate potential business idea using Porter's five forces. Students will also demonstrate depth of understanding ethical dilemmas in an emerging and foreign market.
This paper brings in relevant entrepreneurial behavior theory to understand the ownership decisions founders make during the nascent stage of new venture creation, and how…
This paper brings in relevant entrepreneurial behavior theory to understand the ownership decisions founders make during the nascent stage of new venture creation, and how such decisions impact the viability of the firm.
The authors examine the behavior and decision making of 137 lead founders during the nascent stage of new venture creation. Psychological ownership and environmental uncertainty are measured of lead founders when dividing up firm ownership among the founding team. Using a longitudinal approach, these nascent-stage decisions are then analyzed to understand the impact on the new venture one year later.
Counter to prior research suggesting teams are better off with identical wages and ownership, the authors find such harmony (i.e. “kumbaya”) pursuit to be a detriment to new venture emergence. Specifically, this study finds that nascent ventures are better off with an unequal ownership split among the founding team members. These findings suggest that nascent firms with an unequal split are more likely to move beyond the nascent stage and launch a functional business.
Although the results of this study offer a valuable contribution to lead founders and new businesses, the study looked at each startup independent of another and is therefore not able to draw any conclusions related to competitiveness.
Lead founders and founding teams frequently divide ownership evenly among the founders. This paper shows that, while convenient, the decision to divide ownership equally can hamper a nascent firm as it moves toward the launch phase of the startup process. These results should motivate founders to think deeply regarding the ownership structure decision and, at the very least, consider the possible negative costs associated with the pursuit of founding team unity.
While scholars have brought attention to the nascent stage, few have identified and analyzed the decisions that take place during this critical time of the new venture development process. Furthermore, even is less is known of the impact nascent decisions have on startup launch. This study sheds light on these areas.
Little is known regarding joiners (i.e. early-stage non-founder entrepreneurial employees) and their commitment to joining a new venture vs pursuing a more rational and…
Little is known regarding joiners (i.e. early-stage non-founder entrepreneurial employees) and their commitment to joining a new venture vs pursuing a more rational and stable career path. The purpose of this paper is to bring an understanding to this phenomenon, while adding to various management theories of organizational commitment and entrepreneurship.
The authors examine how current employment situations and alternative job prospects impact the relationship between joiner perceptions of distributive justice and organizational commitment by utilizing the equity ownership distribution decided upon by the founding team. The hypotheses are tested using data gathered from 117 joiners.
The findings confirm for traditional organizational research, a positive relationship exists, even in a new venture context, between perceptions of distributive justice and organizational commitment. However, when joiners report having a second (or primary) job, in addition to the new venture, the direct relationship is weakened. In contrast, higher levels of alternative employment options strengthen the relationship between justice and commitment.
Although the authors’ measure of employment options only included a single-item measure, there is precedent in the literature for this approach. Yet, the authors realize this remains a limitation due to the lack of additional information surrounding each joiner’s “other job” characteristics, such as tenure, title, and salary.
Perceptions of fairness and justice appear to provide valuable implications for founders concerned about organizational commitment and employee buy-in when seeking to bring on joiners. Job alternatives and additional employment also provide interesting takeaways for practitioners. The authors suggest that founders take caution when hiring joiners, who have a second (or primary) job, in addition to working for the new venture. Levels of commitment will likely be reduced, to the possible detriment of the new venture.
Although the baseline hypothesis exists in prior literature with respect to established firms, it has not been tested in a new venture context. Furthermore, prior studies within the entrepreneurship literature have yet to examine these issues from the perspective of the joiner and certainly have not taken into account additional employment and employment prospects among these individuals.
Stress management programmes for trade unionofficials still remain underdeveloped. This articleseeks to highlight some of the methodologicalproblems in trying to mount…
Stress management programmes for trade union officials still remain underdeveloped. This article seeks to highlight some of the methodological problems in trying to mount such programmes within the political context of contemporary trade unionism. The author argues that a much more “holistic” approach towards the “management of discontent” is necessary.
TO MARK what in their new celebration brochure is colourfully and correctly described as ‘a century of progress’, Millers Oils promoted a series of open day hospitality events over the period 20–22 May, with twice‐daily sessions at the Brighouse, West Yorkshire plant.
Little consideration has been given to the questionof stress among trade union officers. Someexplanations for this are offered and, on the basisof pilot research carried…
Little consideration has been given to the question of stress among trade union officers. Some explanations for this are offered and, on the basis of pilot research carried out in the north east of England, class and gender are revealed as crucial variables is shown both in terms of stressors and coping strategies for male officers. This yields a new viewpoint for considering traditional theories of union democracy. In a follow‐up article the question of stress management in trade unions will be considered.
In this chapter, we use the minimum cross-entropy method to derive an approximate joint probability model for a multivariate economic process based on limited information…
In this chapter, we use the minimum cross-entropy method to derive an approximate joint probability model for a multivariate economic process based on limited information about the marginal quasi-density functions and the joint moment conditions. The modeling approach is related to joint probability models derived from copula functions, but we note that the entropy approach has some practical advantages over copula-based models. Under suitable regularity conditions, the quasi-maximum likelihood estimator (QMLE) of the model parameters is consistent and asymptotically normal. We demonstrate the procedure with an application to the joint probability model of trading volume and price variability for the Chicago Board of Trade soybean futures contract.
The economic phenomenon of “globalization” has broadly affected the health care industry and the medical profession in the late 20th century. Governmental and private…
The economic phenomenon of “globalization” has broadly affected the health care industry and the medical profession in the late 20th century. Governmental and private sector managed care reach is expanding globally, as patients are “ecuritized” and traded as covered lives. Arbitrage of health care goods and services is creating commoditization effects, including trans‐border parallel markets (i.e. black markets). Consumers and governments are becoming concerned about privacy issues and product standardization, while Third World challenges remain in the public health realm (i.e., infectious pandemics, sanitation, nutrition and overpopulation).
We propose a quasi–maximum likelihood estimator for the location parameters of a linear regression model with bounded and symmetrically distributed errors. The error…
We propose a quasi–maximum likelihood estimator for the location parameters of a linear regression model with bounded and symmetrically distributed errors. The error outcomes are restated as the convex combination of the bounds, and we use the method of maximum entropy to derive the quasi–log likelihood function. Under the stated model assumptions, we show that the proposed estimator is unbiased, consistent, and asymptotically normal. We then conduct a series of Monte Carlo exercises designed to illustrate the sampling properties of the quasi–maximum likelihood estimator relative to the least squares estimator. Although the least squares estimator has smaller quadratic risk under normal and skewed error processes, the proposed QML estimator dominates least squares for the bounded and symmetric error distribution considered in this paper.