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While considerable attention has been devoted to the personality traits of entrepreneurs, less attention has been given to their values, especially outside of a Western context. Values are instrumental in the decision to pursue entrepreneurship, and have implications for the entrepreneurʼs approach to creating and managing the venture. The role of values would seem especially relevant in the context of ethnic subcultures. Values traditionally associated with entrepreneurship, such as risk, individualism, competitiveness, wealth generation, and growth, may be more consistent with Western cultures, and may conflict with closely held values within various ethnic subcultures the world over. This article examines the values of entrepreneurs in two ethnic subcultures within South Africa. Findings are reported from interviews with cross-sectional samples of black and colored entrepreneurs. The results indicate entrepreneurs tend to embrace common values regardless of their individual ethnic heritage, but with different underlying patterns. In addition, the entrepreneurial path itself gives rise to certain shared values; and the overarching country culture has a strong influence on value orientations. Implications are drawn from the results, and suggestions made for ongoing research

Examines the concept of adaptation as it relates to the start‐up and survival of small businesses over time. Adaptation is approached as the making of appropriate adjustments to the business and its strategic focus, as the venture evolves from an initial idea to a successful business. It is proposed that adaptation has three relevant components: the firm’s capacity to adapt, how much it actually adapts, and the strategies it relies upon to adapt. A conceptual model and hypotheses are proposed, relating the entrepreneur, the organizational context and the external environment to these three components of adaptation, and relating the components of adaptation to performance. Results from a cross‐sectional survey of small business founder/owners suggest that characteristics of the entrepreneur and levels of environmental change are especially important determinants of the three components of adaptation, and that levels of and strategies for adapting are related to organizational performance. A number of implications are drawn from the findings and suggestions are made for ongoing research.

This chapter examines the factors that promote entrepreneurial projects in established companies. A set of forty triggers is proposed and ways in which triggers can be classified are suggested. A conceptual model links types of triggers to specific types of entrepreneurial projects and to outcomes. To test the model, surveys were conducted with companies in South Africa and the United States. The results for the two samples are similar, and indicate that triggers tend to be more internal and planned, that the type of trigger is related to how innovative the projects tend to be, and that planned entrepreneurship is associated with greater success.

The present study examines entrepreneurship in established firms holistically and critically. The authors start by reviewing previous research and highlight a variety of definitional, conceptual, methodological, contextual, and temporal factors that have been confounding the research. The authors then present a multidimensional framework that specifies a more nuanced picture of the determinants, motives, activities, and consequences of corporate in established firms. Finally, the authors discuss conceptual, methodological, and practical implications, as well as outline future research avenues.

Entrepreneurship education has had a remarkable evolution over time and the number of entrepreneurship textbooks has multiplied given the increased interest in entrepreneurship programs in higher education. Yet, studies that review the coverage of textbooks focusing on entrepreneurship are scarce. This study provides an inventory of entrepreneurship textbooks and the topics they cover as well as specific emerging topics they do not cover by analyzing the content of 57 textbooks. Our results suggest that most textbooks provide significant coverage of such topics as the nature of entrepreneurship, business plans, financing, marketing, and cases. Among emerging concepts, social media has been relatively well covered with increasing coverage in more recent textbooks, while business canvas, as an example of alternatives to conventional business plans, is rarely covered. Most textbooks have provided little coverage of such topics as sales, family business, women and minorities, as well as ethics and sustainability. This study not only reveals areas that are covered by existing textbooks but also themes that future textbooks and research could cover to address the challenges of future entrepreneurship education.

Social Cognitive Career Theory (SCCT; Lent, Brown, and Hackett 1994, 1996) proposes that career interests, goals, and choices are related to self-efficacy beliefs and outcome expectations. It suggests that peopleʼs self-efficacy beliefs and outcome expectations with regard to self-employment would predict their goals to become selfemployed. This study explores the ability of SCCT to predict goals for self-employment in a sample of 115 undergraduate business students. Results indicated that students with higher entrepreneurial self-efficacy and higher self-employment outcome expectations had higher intentions to become self-employed. These findings imply that educators and policy-makers may boost student entrepreneurial intentions by (1) enhancing studentsʼ confidence to succeed in an entrepreneurial career and (2) enhancing studentsʼ expectations of strong positive outcomes resulting from an entrepreneurial career