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Organizational learning capabilities are embedded in organizational communication systems and processes related to knowledge creation and articulation. The emergence of new organizational forms (such as horizontal organizations) in rapidly‐changing environments and hyper‐competitive markets underscores the need to better understand these foundational sources of learning. In fact, the reason horizontal organizations may find success is that their structure is intended to promote communications systems and processes which enhance a knowledge‐response sequence similar to a stimulus‐response sequence associated with learning. These systems permit managers to quickly gather information, respond with agility in making decisions, and continue to make ongoing adjustments. Firms which understand the need to build their communications capabilities may be characterized as meta‐learning organizations. Resource‐based theory suggests that communications systems and processes are thus sources of competitive advantage. Future empirical research on organizational learning may progress by evaluating specific measures of communication process as proxies for learning processes.

The privatization of State Owned Enterprises (SOE) has significant implications for SOE stakeholders. However, the effects on stakeholders will vary depending on characteristics of the privatization process and the structure of the SOE. This paper identifies privatization process characteristics of wealth creation and wealth distribution, and describes SOE structures on a continuum between government corporation and government agency. The privatization effectiveness for stakeholders is discussed and examples provided for each classification of privatization.

In this paper the authors aim to introduce a concept that they call the “entrepreneurial growth ceiling” (EGC). They develop arguments that new venture IPOs hit the EGC prior to their IPO, and the ceiling is part of the impetus for going public. The paper argues that proceeds from the IPO will aid firms in breaking through the ceiling if the proceeds are strategically allocated.

The study examines a cohort of firms that went public in the same year. The authors code data from the prospectuses of 366 organizations, including how proceeds were to be spent, and then add performance data post‐IPO.

The results from a longitudinal study of IPOs indicate that firms that allocate proceeds to human resources and innovation (research and development) are more likely to break through the EGC quickly and enhance long‐term stock performance.

Entrepreneurial firms will have higher success when investing money into their human resources (people) and in research and development (innovation). Given the current high rate of change in business, the authors expect these findings are even more relevant for not just IPOs but for all organizations going through change.

Organizations that support and fund entrepreneurship and new venture growth should consider expanding their training to include human resource management, in particular as it ties to innovation.

The entrepreneurial growth ceiling is a new concept introduced in this paper. This research has important implications for IPOs and other high‐growth organizations.

This article examines whether the field of entrepreneurship is becoming increasingly institutionalized by examining market trends, AACSB jobs, and salaries. The findings indicate that the field is becoming increasingly institutionalized through market trends. During 2014/15, there were 471 advertised positions and 163 candidates in Schools of Business and Management. The number of tenure track positions (261) was significantly higher than the number of tenure track candidates (161) for a ratio of 1.62. This is the highest ratio of tenure track positions to candidates since 2005/06 (2.1). Out of the 261 tenure track positions, 174 were at AACSB institutions.The ratio of tenure track positions at AACSB schools per tenure track candidate was 1.08. The study also looked at average salaries at AACSB schools and found them to be competitive with other mainstream areas. Average salaries were: full professors ($162,000), associate professor ($131,400), assistant professor ($113,600), instructor ($85,800), and new doctorates ($97,800).

The words in the CRM (Customer Relationship Management) have become short‐hand buzz words for describing how firms foster a 360‐degree review of the customer lifecycle. The primary goal of this study is to provide a synopsis of innovative CRM concepts that can assist entrepreneurial small firms develop a process to effectively communicate with their customers, such as an e‐newsletter and CD‐ROM direct mail campaign. A practitioner‐oriented model is developed that depicts the CRM process of using multiple communication channels, building loyalty, establishing customer retention tactics, and changing service offers to foster the customer experience.

Entrepreneurship has been widely recognized as having greatly influenced the United States. Its influence has especially been documented over the past 20 years. Paralleling our societal interest in entrepreneurship has been increasing interest in entrepreneurship education. While our interest in entrepreneurship education has grown considerably over the past two decades, this field of study continues to have critics both within and outside of schools and colleges of business (Kuratko 2004). In spite of these criticisms, some researchers suggest that the United States is still far ahead of other regions of the world in terms of entrepreneurial education (Solomon et al. 1998).

Using entrepreneurship education in the United States as a point of departure, this article uses a case study to analyze the efforts of a private university in Bogota, Colombia, to create a new program in entrepreneurship. The Colombian Legislature passed Law 590 in July 2000 as a means to promote and develop entrepreneurship in the nation. Shortly thereafter a private university in Bogota started a new program in entrepreneurship. At the university's invitation, a small number of faculty from U.S. universities participated in the school's “kick-off” efforts. The paper offers analysis and recommendations based on five criteria: 1) What is taught, 2) Why it is taught, 3) How it is taught, 4) How well it works, and 5) Leadership support. In addition, rather than simply adopting a U.S. or European model of entrepreneurship education, the authors propose that they should develop a center that integrates lessons from other models with elements that are relevant to the local situation.

The growth of firms is fundamentally based on selfreinforcing feedback loops, one of the most important of which involves cash flow.When profit margin is positive, sales generate cash, which may then be reinvested to finance the operating cash cycle.We analyze simulations of a sustainable growth model of a generic new venture to assess the importance of taxes, and regulatory costs in determining growth.The results suggest that new ventures are particularly vulnerable to public policy effects, since their working capital resource levels are minimal, and they have few options to raise external funds necessary to fuel their initial operating cash cycles.Clearly, this has potential consequences in terms of gaining competitive advantage from experience effects, word of mouth, scale economies, etc. The results of this work suggest that system dynamics models may provide public policy-makers a cost-effective means to meet the spirit of the U.S. Regulatory Flexibility Act

The purpose of this paper is to examine the use of financial information and valuation methods among private equity funds in Europe and India. The authors analyze differences in the choice of valuation methods and how the use of financial information differs among funds in the UK, Pan Europe and India.

A survey approach was utilized in collecting proprietary data from European and Indian private equity funds. The data were classified according to fund type, country grouping, size, risk profile, labor cost and industry structure and analyzed using MANOVA and ANOVA.

The results show that the use of valuation models is relatively homogeneous across countries and that the use of financial information appears to be driven to a large extent by fund type and fund focus. The use of audited financial statements appears to increase as firms mature. Significant differences were found in standard financial adjustments between the two fund types and between the country groupings. Results based on labor cost are weakly significant whereas industry structure does not appear to have an impact on how fund managers evaluate investments.

The results indicate that fund managers adapt their decision‐making behavior according to investment type and risk. The authors argue that understanding asymmetrical and structural issues may potentially improve investment decision‐making processes. The main conclusion for researchers is that buy‐out and venture capital funds should not be combined as one asset class. Since a survey approach was used, the study is subject to the belief that fund managers do not internalize decisions well, which could reduce the effectiveness of the research design.

There are few studies in the areas covered by this paper due to the proprietary nature of the private equity industry. The results are important because they help in understanding how fund managers use decision aids such as financial statements and valuation techniques. A better understanding of current practices will help fund managers and fund sponsors in devising improved decision aids and processes, which ultimately may lead to fewer non‐performing investments. This is especially important in private equity since investment decisions are often irreversible and binary.

The purpose of this paper is to develop an understanding of how the institutions of family and culture play out in shaping family business practices. This study focusses on family business led by poor entrepreneurial women in a context of extreme poverty.

The methods included participant observation, focus groups and interviews in two poor villages in South-East Nigeria. Thematic analysis was used to develop insight about how the institutions of family and culture shape family business practices.

The analysis demonstrated that the family, with associated responsibilities and norms, is a powerful institution that determines women’s role and business behaviours. Poor entrepreneurial women depend on the family to run their business, but also use the business to sustain the family. They make use of their limited resources (e.g. time, money, skills) to meet families’ basic needs and pay for necessities such as children’s education. These are family priorities, rather than maximising profits.

The study was limited to rural Africa, in particular to a small sample of rural women entrepreneurs in South-East Nigeria, and as such, the findings are not necessarily generalisable, but may be at a conceptual level.

The study has highlighted the need to tailor micro-enterprise development programmes that facilitate change, add values to entrepreneurial activities and support women to fulfil their roles and ease institutional pressures affecting rural women economic activities. In short, such programmes need to account for cultural institutions.

This study presents insights of the influence of institutions (family and culture) in business led by rural Nigerian women.

This research fills a gap in the family business literature by offering conceptual insights about how the institutional obligations of family mean that micro-enterprising should be conceptualised as an entity, rather than as a family in business or the family business.