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Great uncertainty accompanies entrepreneurs’ processes of designing promising business models (BMs). Therefore, stabilising factors act as important means in this process. In this study, we examined the impact of cognitive dispositions and visual BM frameworks on the BM process and outcomes. By using partial-least-square structural equation modelling (PLS-SEM) and an experimental setting, our results show that the stabilising function of BM frameworks depends on entrepreneurs’ cognitive dispositions. This finding contributes to the cognitive BM perspective and explains how cognitive dispositions and visual framing effects act as boundary conditions for the theory of stabilising factors. This also has important implications for applying frameworks in practice.

In this paper, we reflect on an expanding literature that links theories of cognition and business models. Managers hold in their mind perceptual constructs or schemas of the business model. These guide the process of distinguishing between options and making choices. Those familiar with business model development will easily recognise that the perceptual construct provides only a summary of the business model, and that a more complex conceptualisation of how business model elements interact is needed. The business model is then much more than a visualisation. It is a schematic model of theorised interaction that is created, shaped, and shared over time. The underlying processes of this creation, shaping, and sharing are cognitive activities taking place at individual, organisational, and inter-organisational levels. Theories of managerial and organisational cognition are thus critical to understanding the acts of business modelling and business model innovation. Here we suggest some of the ways that business model and cognition literatures can be connected, present existing literature, and reflect on future avenues of research to explore the cognitive foundations of business modelling.

We study three private hospital organizations in India that were set up to deliver affordable high quality, services to the poor. Their distinctive feature is that they have successfully balanced two apparently contradictory logics: financial (doing well) and social (doing good) through business model innovations. By analyzing abundant primary and secondary data, we document in detail the key features of their business models – customer identification, customer engagement, value chain and linkages, and monetization – and document how they contribute to the organizations’ ability to deliver high quality healthcare at very low prices. We analyze the impact of these organizations, both direct and indirect, on the healthcare delivery landscape in India. We show that while their direct impact is significant, their indirect impact could potentially transform healthcare delivery in India and in other developing countries.

Acting entrepreneurially in nascent industries is a complex endeavor characterized by uncertainty and ambiguity. Nevertheless, entirely new industries do emerge, often as a direct result of entrepreneurial behavior. We extend and apply discovery and creation approaches to study entrepreneurial behavior during industry emergence by means of qualitative analysis of a film about the personal computer (PC) industry℉s formative years. We find that discovery and creation behavior are fundamentally interrelated and share a common element: bricolage. Moreover, ideological activism is a major component of entrepreneurial behavior in a new industry℉s formative years during both creation and discovery processes. Implications for research and practice are discussed.

We investigated how an institutional settlement concerning Native Indian gaming (the operation of gambling establishments such as casinos or bingo halls by Native Indian tribes) was preserved over time in spite of three significant challenges. Building on previous literature on settlements and institutional logics, we see settlements as institutional arrangements that manage power dynamics and competing institutional logics. Based on our analyses of the settlement and three challenges in the Native gaming field, we suggest that even seemingly volatile institutional settlements can be maintained when powerful actors balance each other’s ability to modify the settlement and different actors invoke alternative institutional logic(s). We also find that these processes can be facilitated by the embeddedness and formality of the settlement. We contribute to the settlement literature by showing how settlements can be maintained when actors draw on equally strong sources of power and different logics to counter the actions of other actors. Furthermore, we shed light on “how institutions matter” by demonstrating how institutional settlements can facilitate field stability.

As the developing nations grow and experience rapid institutional transformation, research has begun to investigate the roles of culture, cognition and institutional context on entrepreneurship and innovation. This chapter aims to advance the entrepreneurial cognition literature by juxtaposing entrepreneurial effectuation, domain-specific expertise and ambiguity. By conducting a qualitative study of Chinese high-tech domestic and returnee entrepreneurs, the authors propose a spectrum between causation and effectuation and argue that the entrepreneur’s perceived level of ambiguity may better explain differing logic orientations among entrepreneurs, contributing to our understanding of entrepreneurial cognition. The authors theorize that (1) individual actors and the level of institutional development jointly comprise the entrepreneur’s logic orientation; (2) the level of perceived ambiguity mediates the strategy adopted by high-tech entrepreneurs; (3) the entrepreneur’s logic orientation can be regarded as a continual spectrum from effectuation to causation. Finally, the logic orientation concept is applied to the context of cross-border mergers and acquisitions (M&A) from a process perspective and the implications and fit of logic orientation with the stages of cross-border M&A are discussed.

Entrepreneurial orientation (EO) has emerged as a core concept in the field of entrepreneurship. Yet, there continue to be questions about the nature of EO and how best to conceptualize and measure it. This chapter makes the case that EO has grown beyond its roots as a firm-level unidimensional strategy construct and that a new multidimensional version of EO is needed to capture the diverse manifestations and venues for entrepreneurial activity that are now evident around the world – global entrepreneurial orientation (GEO). Building on the five-dimension multidimensional view of EO set forth when Lumpkin and Dess (1996) extended the work of Miller (1983) and Covin and Slevin (1989, 1991), the chapter offers an updated definition of EO and a fresh interpretation of why EO matters theoretically. Despite earnest efforts to reconcile the different approaches to EO, in order to move the study of EO and the theoretical conversation about it forward, we maintain that as a group of scholars and a field, we need to acknowledge that two different versions of EO have emerged. Given that, we consider original approaches to measuring EO, evaluate formative measurement models, consider multiple levels of analysis, call for renewed attention to EO configurations, and discuss whether there is a theory of EO.

This chapter presents a novel method for using PechaKucha presentations to generate and analyze participant-generated video data. As a data source, participatory video (PV) differs from ethnographic or archival video by relying on participants to tell their own stories. As a presentation technique, PechaKucha produces six-minute-and-forty-second, narrated slideshow presentations. The slideshows or recordings from live PechaKucha presentations are a dense form of PV that is easier to code and analyze than traditional sources of PV. This chapter describes the procedures to capture and analyze PechaKucha-based PV and illustrates considerations for researchers who plan to use PV to gather data.

The purpose of the paper is to examine the effects of perceived parental entrepreneurial rewards, or PPERs (i.e. the offspring's perception of the degree of parental success in entrepreneurship), on the corporate venturing (CV) mode of entrepreneurial entry and the interaction effects of family business involvement (FBI) and formal employment on the association between PPER and CV by the next-generation family members.

A survey was administered to a sample of 738 small business owners in Kenya; of which, 440 small business owners were selected because they grew up in a family business context. A probit model was used to examine the main and interaction effects.

PPERs significantly influenced CV. FBI improves the positive relationship whereas formal employment reduces the effects of PPER on CV.

Families in business need to improve conversations with their children to include discussions concerning the intrinsic and extrinsic rewards of running a family business, which may shape not only the entrepreneurial entry path of their offspring but also the willingness to establish businesses that may grow and lead to continuity of the family business of origin.

The study investigates the effect of being embedded in a business family in shaping the CV mode of entrepreneurial entry by the next-generation family members who may not, on the one hand, find independent own founding an attractive option and for whom, on the other hand, the succession mode of entry may not be an option.

We study the decision-making process behind business model change, focusing specifically on the tactics managers employ to gain support for such changes. We first argue for the prominent role of middle management in business model change, and second, we revisit the literature on issue selling and championing as they may apply to business model change decision-making. We subsequently analyze the case of a business model change initiative in the Dutch water authority sector, revealing two specific tactics that middle management employed to obtain top management’s agreement to business model change: leveraging external agreements and continuously informing top management. We discuss how these findings extend and in some ways suggest a rethink of the literature on organizational change. Finally, we describe the specificities of business model change that distinguish it from other types of change. In sum, this paper demonstrates the interest of research at the nexus of business models and organizational change.