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In the study of entrepreneurial behavior types, “ambitious entrepreneurship” recently emerged as a new research concept. Unfortunately, a systematic overview of what is known (and not known) about this topic is missing. In particular, insights into the various definitions, measures, and antecedents of ambitious entrepreneurship are lacking. In this chapter, we offer a state-of-the-art review and analysis of extant research on ambitious entrepreneurship. We structure the literature review by providing insights into antecedents of ambitious entrepreneurship, and extensively discuss the conceptualization and operationalization of this research concept. We clarify the differences between related concepts such as growth intention, expectation, and aspiration, and argue how all these concepts fit into a unifying framework of ambitious entrepreneurship. We summarize promising future research avenues for the study of ambitious entrepreneurship, both from a methodological and a conceptual point of view.

A common weakness of most growth models is the assumption that growth is a desired objective for entrepreneurs (see, e.g. Bird, 1989). However, not all entrepreneurial firms seek growth as their primary objective (Covin, Slevin, & Covin, 1990; Porter, 1996), and further there is no reason to expect that all entrepreneurs want their businesses to grow in similar ways (Liao & Welsch, 2003). Thus, in many cases researchers have separated growth orientation from actual growth. In previous studies growth orientation has been defined as precondition to growth (see, e.g. Autio et al., 2000). Growth orientation is an attitudinal concept based on subjective evaluation (Nummela, Puumalainen, & Saarenketo, 2005) and is considered to be particularly important for international growth (Yli-Renko et al., 2002). IGO is thought to be a useful construct for differentiating companies according to their motivation to seek growth in international markets, and also for identifying the factors behind the chosen growth strategies (Nummela et al., 2005).

High-growth firms (HGFs) make a considerable contribution to economic growth, and in recent years they have received increasing interest from entrepreneurship scholars. By analysing recent findings in the literature of high-growth firms, this study identifies some Stylized Facts, as well as contradictory findings, and also some unknowns regarding the determinants and internal strategies of HGFs, particularly on the persistence of their superior growth performance and the implications of recent findings for economic policy.

This chapter provides a rationale and an introduction for this book. The organisation and structure of the book is identified and justified. Thereafter, each chapter included within the book is introduced and profiled. The chapter concludes by drawing brief conclusions on the book chapters included in this book with suggestions for further research opportunities and implications for the entrepreneurship discipline.

Baumol’s impact on the development of managerial theories of the firm is investigated here through the material found in Galbraith’s archives. In 1957, Galbraith published a paper claiming that the impact of macroeconomic policies varies with market structures (competitive versus oligopolistic). That publication prompted Baumol (1958b) to send Galbraith a manuscript dealing extensively with a crucial question of managerial theories of the firm, namely, the trade-off between sales and profits. I argue that Baumol’s critiques and Galbraith’s answers largely explain the way Baumol (1958a, 1959) framed his alternative model of the behavior of corporations. He reasoned in terms of maximization of sales with a profit constraint as their main objective. In return, Business Behavior, Value and Growth fostered the development of Marris’ (1964) and Galbraith’s (1967) theories of the corporation. While Tullock (1978) provides a narrative in which the sales maximization hypothesis has two main branches – Baumol for the one and Galbraith–Marris for the other – the paper demonstrates that these branches are intimately connected.

A vast and comprehensive body of research highlights the importance of motivation for academic outcomes. More recently, researchers and educators are increasingly becoming aware of the importance of motivation for social and emotional outcomes. In the current chapter, it is argued that motivation is a core component of social and emotional competence because such competence must be actively and willfully applied to have a positive impact on the individual and those around them. Motivation is essential for this application. In this chapter, three well-known motivation constructs are presented as playing a role in promoting positive social and emotional outcomes: social goals, growth mindsets, and autonomous motivation. Then, attention is narrowed down to an in-depth consideration of autonomous motivation and its role in a recently developed conceptual model that articulates the instructional, motivational, and behavioral factors and processes implicated in social and emotional development (Collie, 2020). The conceptual model highlights that instructional practices promote students' perceptions (of autonomy, competence, and relatedness) and, in turn, their autonomous motivation and enactment of socially and emotionally competent behaviors. The chapter concludes with implications for practice and research.

The primary purpose of this chapter is to provide insight as to why some privately held small-to-medium sized firms (SMEs) have been able to outperform their peers in terms of their performance defined as revenue growth, profit growth, growth in number of employees and markets. Little is known about privately held firms and what drives their performance. The second purpose is to synthesize and provide clarity to the extant literature on rapid-growth SMEs (gazelles). The third purpose is to bring a unifying theoretical lens to the literature.

The research was conducted using elite interviews with 47 informants drawn from 21 rapid-growth, private companies. Qualitative methods were used to identify themes related to the strategies used by these firms to outperform their peers over a five-year period.

The study organizes and summarizes the extant literature on rapid-growth companies, provides support for some findings, and clarifies equivocal findings. It also suggests that early strategic choices made by the owners of private firms along with their attitudes and capabilities positioned the private firms for rapid growth. The Morgan and Hunt (1994) trust–commitment theory of relationship marketing emerged from the data as the model used most often by rapid-growth private firms and the one that best integrates the factors driving private firm performance. A modified, two-stage model appears to be warranted. The first stage focuses on respect for the value employees bring, and building their trust and commitment is an essential first step that subsequently drives the second stage of the model – building customer trust and commitment. While some of the outcomes are similar to those suggested by Morgan and Hunt, new outcomes (collaborative innovation, citizenship behaviors, sustained growth, and premium prices) also emerged as important outcomes in this study.

This study provides owners of private firms with insight on how to build and grow their firms in a rapid and sustainable fashion.

Little research has been undertaken on private firms. This study addresses this knowledge gap. The modified trust–commitment relationship marketing model that emerged from the data had not been utilized to date in the field of rapid-growth firms and it provides an integrating theory that explains the performance of rapid-growth private firms.