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Much of strategy has been about defense, building the largest castle with the thickest walls to defend position, and tying down the customer with switching costs…
Much of strategy has been about defense, building the largest castle with the thickest walls to defend position, and tying down the customer with switching costs, standards, and transaction costs. The digital age changed that, making ineffective the usual competitive advantages of size and scope, infrastructure, and the former capabilities. The metaphor has moved from walls to windows: for transparency, fresh air, connection, and some protection from the harsher elements. A proactive windows strategy assembles scale and scope collaboratively, creates relationships that make switching unattractive, develops intangible resources all along the value chain, and builds co‐specialized capabilities. Illustrative examples come from three companies that have thrived in the digital age: eBay (a new company and industry), Lending Tree (new in an old industry), and Charles Schwab (old in an old industry).
There is progress in entrepreneurship research. Important works in entrepreneurship increasingly appear in highly respected, mainstream journals (see Busenitz et al., 2003…
There is progress in entrepreneurship research. Important works in entrepreneurship increasingly appear in highly respected, mainstream journals (see Busenitz et al., 2003; Davidsson, Low & Wright, 2001). There is conceptual development that attracts attention (e.g. Shane & Venkataraman, 2000) and handbooks are compiled, providing the field with more of a common body of knowledge (Acs & Audretsch, 2003a; Shane, 2000a; Westhead & Wright, 2000). Further, there is evidence of methodological improvements (Chandler & Lyon, 2001) and accumulation of meaningful findings on various levels of analysis (Davidsson & Wiklund, 2001). Moreover, due to time lags in publication the reported improvements are likely to be underestimated. This author’s experience as organizer, reviewer and participant in core entrepreneurship conferences on both sides of the Atlantic (e.g. Babson; RENT) suggests that much of the lower end of the quality distribution has either disappeared from the submissions or is screened out in the review process. Much more than used to be the case a few years back we find among the presented papers research that is truly theory-driven; research on the earliest stages of business development, and research that employs methods suitable for causal inference, i.e. experiments and longitudinal designs.
This corporate strategy case shows how PepsiCo stopped worrying about competing with Coca-Cola, figured out what its real business was, and decided how to build its…
This corporate strategy case shows how PepsiCo stopped worrying about competing with Coca-Cola, figured out what its real business was, and decided how to build its future. Redefining itself as a beverage and snack business, PepsiCo sheds its restaurant business and acquires Quaker and Tropicana. By rethinking the synergistic relationship between the complementary, combined strengths of the merged companies, it strategizes to develop innovative products that will compete in a changing demographic, cultural, and geographical world. Will this strategy work in an increasingly competitive environment?
As proposed by Brandenburger and Nalebuff (1996), the concept of coopetition which highlights the coexistence of both collaborative and competitive forces in…
As proposed by Brandenburger and Nalebuff (1996), the concept of coopetition which highlights the coexistence of both collaborative and competitive forces in interorganizational settings aims to provide a new way of thinking for accelerating the innovation process and generating greater value. However, despite such recognitions, our understanding about how coopetition can help facilitate the innovation process in small and medium enterprises is rather limited. This should warrant a separate stream of research on this issue. Drawing on the concept of effectuation, we will explore the coopetitive innovation process in entrepreneurial firms. Sarasvathy (2001) proposed five principles embedded in the effectuation decision-making process of entrepreneurship. This process starts with a given set of means and controllable goals, followed by interactions with other stakeholders until they are all committed. The final stage leads to the creation of new products and services. The first two stages, means and goals, are the preparation stage in which an entrepreneurial firm distinguishes itself from large established corporations and establishes a base to leverage its contingency according to existing means and acceptable losses. After that, the effectuation process enters into the interaction and commitment stage during which the firm seeks relationships with stakeholders. We argue that the coopetitive forces can appear in the interaction and commitment stages to enlarge and capture value for the entrepreneurial firm involved.
A great deal of policy thinking in the last ten to 15 years has been driven by the insights gained from the so‐called “new growth theory”. The theory emphasizes that…
A great deal of policy thinking in the last ten to 15 years has been driven by the insights gained from the so‐called “new growth theory”. The theory emphasizes that investments in knowledge and human capital generate economic growth through spillover of knowledge, and the policy implication is that investments in knowledge and human capital are the best way to stimulate growth. However, there is a couple of missing links in the “spillover argument” in that the theory seems to disregard the role of the entrepreneur. The paper aims to answer the question: Why haven't entrepreneurship researchers become a strong voice regarding the understanding of the development of the knowledge economy?
The author argues that a dynamic and innovative research field is characterized by a balance between the pursuit of new issues and knowledge in research, for example, by being sensitive for changes in society, and the development of existing knowledge, by integrating and validating the knowledge base already existing within the field.
The paper shows that one important reason for the lack of visibility of entrepreneurship research can be found in an internal scientific development of the research field – entrepreneurship research has become more and more theory‐driven and shows less sensitivity and openness for changes in society.
The article gives a critical reflection on the development of entrepreneurship as a research field. In this sense the article provides an increased understanding of the knowledge that is within the field, and gives also suggestions for the future development of the research field.
This chapter combines insights from organizational theory and the entrepreneurship literature to inform a process-based conception of organizational founding. In contrast…
This chapter combines insights from organizational theory and the entrepreneurship literature to inform a process-based conception of organizational founding. In contrast to previous discrete-event approaches, the conception argues that founding be viewed as a series of potential entrepreneurial activities – including initiation, resource mobilization, legal establishment, social organization, and operational startup. Drawing on an original data set of 591 entrepreneurs, the study examines the effect of structural, strategic, and environmental contingencies on the relative rates with which different founding activities are pursued. Results demonstrate that social context has a fairly pervasive impact on the occurrence and sequencing of founding processes, with one possible exception being the timing of legal establishment.
Advanced bibliometric methods have emerged as key tools in mapping the history and trends of a discipline. This paper aims to demonstrate on applying various bibliometric…
Advanced bibliometric methods have emerged as key tools in mapping the history and trends of a discipline. This paper aims to demonstrate on applying various bibliometric methods to track a journal’s impact and review its knowledge contribution. In doing so, the authors take the case of IIMB Management Review (IMR) journal focused on management discipline, in consideration of its 10 years of publication presence.
Using bibliometric and Scopus metric methods, the authors map and analyze the productivity of IMR Journal and map its knowledge contributions.
The authors identify the IMR journal’s impact, its growth, the most prolific authors/affiliations, key research hotspots, cross-country collaboration and emerging trends over the past decade.
A 10-year longitudinal review helps the target group identify the main themes. It also provides key empirical insights to the journal editorial board and library managers for future planning and growth of the journal.
The purpose of this paper is to identify the key values individuals believe in and their interpretation in the context of entrepreneurial behaviour. The study is predicated on the prior work of Krueger (2007) and specifically on the premise that “deep beliefs” underpin sense making, decision making and subsequent entrepreneurial behaviour.
The study utilised an inductive and interpretive research design within a constructivist paradigm. In phase one, Schwartz’s (1992) 54 values inventory was used to discover a core value-set associated with entrepreneurial behaviour. The results were later used as an “aide-memoire” during the second phase of in-depth interviews with 30 self-selected entrepreneurs. Interviews focused primarily on the meaning individuals attributed to those fundamental values they associated with entrepreneurial behaviour. The resulting narrative was subjected to discourse analysis and categorised into relevant themes.
Self-determined human action is based on a specific set of values which the individual uses to make decisions about how to behave in situations that are meaningful to them. Engaging in entrepreneurship is one form of self-determined behaviour that enables the individual to express and satisfy a variety of different fundamental needs. Four specific values are believed to be critical to the motivation of entrepreneurial behaviour, namely, independence, creativity, ambition and daring. The meaning attributed to each of these values is consistent with that attributed to self-determinism, self-efficacy and the identity of participants associated with entrepreneurship.
There are limitations to this research and the extension of the findings to a generalised population comprising individuals who may, or may not, behave entrepreneurially. This is not to say that such individuals hold values substantially different in other roles or areas of their lives outside a purely business context. The values rated by participants in this study had relevance to their view of entrepreneurial behaviour and were confined to a business perspective.The variability in meaning attributed to these values is however likely to produce a common thread focusing on control, creativity and goal-directed behaviour.
The study strongly suggests the presence of a specific value-set associated with entrepreneurial behaviour. The shift in emphasis to independence and being ambitious, at the expense of being creative and daring, represents one explanation for the episodic nature of entrepreneurial behaviour among individuals. The data further reveal differences in entrepreneurial behaviour within urban and rural contexts with the former being more tolerant of entrepreneurial activity because of its inherent cultural diversity
Similarly, all participants have assimilated several different identities for the different social roles they occupy. Within those varying roles there is the possibility that both individual and group values will differ from what is reported here. The purpose of the study was to isolate as far as possible entrepreneurial behaviour and its core values independently from other types of behaviour and values. However, the likelihood does exist that values held by some individuals from other spheres of their lives could take precedence over their entrepreneurial role and thus influence their survey results.
The value of this study lies in exposing the underlying motivations that cause entrepreneurial behaviour. The study also discovered that shifts occur in the belief structure causing individuals to engage in managerial behaviour in preference to entrepreneurial behaviour at critical stages in the business life-cycle. The study further identifies cultural differences in individualistic vs collectivist cultures and the degrees to which entrepreneurial behaviour is accepted within urban vs rural environments.