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Article
Publication date: 1 January 2009

Niu Fang, Zhang Yuli and Xue Hongzhi

The purpose of this paper is to assess the impact of the acquisition of resources and formal organization on entrepreneurial orientation (EO) of new ventures.

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Abstract

Purpose

The purpose of this paper is to assess the impact of the acquisition of resources and formal organization on entrepreneurial orientation (EO) of new ventures.

Design/methodology/approach

The research was conducted using an original data set of 199 new ventures in China. The data were analyzed through regressing models.

Findings

It was found that new ventures experiencing difficulty in acquiring resources have higher levels of EO; formal organization is associated with the proactiveness dimension of EO significantly and positively.

Research limitations/implications

First, the measures of EO were mainly used to study established firms. The measures of EO may need to be modified to take into account new ventures' uniqueness. Second, this study focused on new ventures operating in a specific geographical region, China.

Practical implications

New ventures should build their formal management systems so that they can integrate as organic organizations to engage in entrepreneurial activities. New ventures lack regulations and their development mainly depends on entrepreneurs. The formal regulations can help new ventures better use and integrate the power of the whole organization systems to identify and explore external opportunities.

Originality/value

Research on EO has focused on established firms while the EO of new ventures is seldom studied. These findings indicate the uniqueness of new ventures and contribute to a better understanding of their behaviors.

Details

Journal of Chinese Entrepreneurship, vol. 1 no. 1
Type: Research Article
ISSN: 1756-1396

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Article
Publication date: 30 September 2020

Yan Ye and Kongyue Li

Extant studies on corporate social responsibility (CSR) have mainly focused on established corporations; the context of new ventures remains largely unexplored. This study…

Abstract

Purpose

Extant studies on corporate social responsibility (CSR) have mainly focused on established corporations; the context of new ventures remains largely unexplored. This study aims to address this gap by exploring the patterns of socially responsible activities in new ventures.

Design/methodology/approach

This study uses the perspective of stakeholders to differentiate external CSR activities (efforts directed toward external stakeholders) from internal CSR activities (efforts directed toward employees) and performs empirical tests using a sample of 3,650 Chinese private firms.

Findings

This study empirically shows that new ventures are more involved in external CSR activities and less involved in internal CSR activities than mature firms. New ventures prioritize their limited resources to fulfill the expectations of external stakeholders rather than those of internal stakeholders. External stakeholders are considered primary stakeholders because of their potential to satisfy critical organizational needs at the start-up stage. However, new ventures tend to cut the spending on employee benefits, ignoring the potential effect of this investment on their long-term growth. After testing the moderating effect of financial resource availability, we find that new ventures with high financial resource availability are inclined to implement external CSR strategy rather than internal CSR strategy.

Research limitations/implications

This study focuses on new ventures and reveals the influence of organizational life cycle on CSR decisions. The findings may be limited to the context of China or emerging markets. Thus, further research is needed to compare the patterns of CSR activities in new ventures under different institutional environments.

Practical implications

This study indicates that new ventures are inclined to implement external CSR strategy rather than internal CSR strategy. This choice may be rational in the short term, but insufficient investment in employee benefits may affect the long-term growth of these firms. Therefore, they must also focus on their internal CSR activities.

Originality/value

This study is one of the few studies to investigate the patterns of socially responsible activities in new ventures in a transition economy. The findings in this study can help reconcile the seemingly contradictory views on whether new ventures are socially responsible and contribute to our understanding about CSR strategy in these firms.

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Management Decision, vol. 59 no. 6
Type: Research Article
ISSN: 0025-1747

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Article
Publication date: 1 May 1984

Robert G. Cooper

Product innovation is central to the success of most companies. The rewards of a successful innovation programme are highly visible in terms of sales, profits and growth…

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1900

Abstract

Product innovation is central to the success of most companies. The rewards of a successful innovation programme are highly visible in terms of sales, profits and growth. But not so apparent are the strategies that underlie these product innovation efforts. This monograph is about the ingredients of a winning new product strategy — about strategic decisions on markets, technologies, products — that result in a successful innovation programme.

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European Journal of Marketing, vol. 18 no. 5
Type: Research Article
ISSN: 0309-0566

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Article
Publication date: 1 August 1995

Paul Westhead

Makes a contribution to the debate surrounding the characteristicsof “non‐exporting” (n = 203 firms) and“exporting” (n = 64 firms) new manufacturing and“producer services”…

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1413

Abstract

Makes a contribution to the debate surrounding the characteristics of “non‐exporting” (n = 203 firms) and “exporting” (n = 64 firms) new manufacturing and “producer services” small firms in Great Britain. It was appreciated that sample differences may overwhelm the exploratory analysis. Consequently, in order to overcome this potentially distorting influence a “matched pairs” methodology was also utilized. Forty‐two matched pairs of non‐exporting and exporting firms were identified (by age of the business, industry and location type). In total, data were collected on 146 variables covering the firm, the founder and the environment. Dichotomizing between the two types of firms the univariate analysis of the “matched samples” identified statistically significant differences with regard to only 14 variables (10 per cent). Additional multivariate analysis was conducted. Results from a logit regression model of the “matched samples” suggests new firms are “pushed” into “exporting” their sales abroad due to perceived shortages of local resources as well as intense local competition. Discusses the policy implications of the survey findings.

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International Journal of Entrepreneurial Behavior & Research, vol. 1 no. 2
Type: Research Article
ISSN: 1355-2554

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Article
Publication date: 17 August 2015

Revti Raman Sharma, Val Lindsay and Nikki Everton

Most of the research on international outsourcing of value chain activities focuses on larger firms. The purpose of this paper is to fill an important research gap by…

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1361

Abstract

Purpose

Most of the research on international outsourcing of value chain activities focuses on larger firms. The purpose of this paper is to fill an important research gap by exploring how small firms manage institutional differences to enhance their international outsourcing success.

Design/methodology/approach

The paper uses data from interviews conducted with two managers of a small New Zealand apparel manufacturing firm who have over 35 years of combined experience with international outsourcing. The firm had both failed and successful experiences in its international outsourcing ventures. Findings are discussed in the context of the extant literature on international outsourcing.

Findings

Small firms overcome institutional constraints they face in offshore locations by leveraging from their entrepreneurial skills, learning from failures and using a relational governance mode. This results in achieving performance targets and sustaining long-term relationships with suppliers, defined as international outsourcing success in this study.

Research limitations/implications

The findings may not be generalised as they are based on a single case and cover only the client perspective. The study contributes to the offshoring literature from the perspective of smaller firms and calls for quantitative investigations to generalise the findings.

Practical implications

The key implications include that small firms need to develop quality relationships and leverage from their unique entrepreneurial capabilities to enhance their success while outsourcing to relatively different institutional environments. Moreover, even a failed experience might help generate subsequent multiple successful ventures, if lessons are learned and behaviour adapted accordingly. Operating in emerging economies is much more challenging than managers from developed markets usually expect – thus the need for them to understand and prepare well before undertaking operations in these markets.

Originality/value

With the rise of international outsourcing of value chain activities, the findings are useful to small firms aiming to achieve success in their outsourcing ventures in offshore locations. This study is one of only a few studies investigating small firms’ international outsourcing that examines both failure and success in an institutionally diverse context.

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Journal of Small Business and Enterprise Development, vol. 22 no. 3
Type: Research Article
ISSN: 1462-6004

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Book part
Publication date: 23 September 2005

Stephanie A. Fernhaber and Patricia P. McDougall

International new ventures have been argued to seek foreign markets from inception in response to the external environment and/or motivations internal to the firm. For…

Abstract

International new ventures have been argued to seek foreign markets from inception in response to the external environment and/or motivations internal to the firm. For example, a new venture that exists in an industry that is more globally integrated is more likely to have a need to internationalize in order to remain competitive (Shrader, Oviatt, & McDougall, 2000). Similarly, those new ventures that have limited domestic growth due to the size of their home country may look elsewhere in order to gain a sufficient level of sales to survive (Zahra & George, 2002). Some of the many firm-specific motivations to internationalize might include the desire to fully exploit a unique product (Burgel & Murray, 2000; Oviatt & McDougall, 1994, 1995), capitalize on the learning advantage of newness (Autio, Sapienza, & Almeida, 2000) or take advantage of networking opportunities (Reuber & Fischer, 1997).

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International Entrepreneurship
Type: Book
ISBN: 978-0-76231-227-6

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Article
Publication date: 1 October 1994

Paul Herbig, James E. Golden and Steven Dunphy

Entrepreneurs and innovation go together like the proverbial horse andcarriage. Entrepreneurs seek opportunities and innovations often providethe instrument for them to…

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3219

Abstract

Entrepreneurs and innovation go together like the proverbial horse and carriage. Entrepreneurs seek opportunities and innovations often provide the instrument for them to succeed. However, certain cultural and structural attributes are inherent within a society which can emphasize entrepreneurial activity and hence innovation. A set of negative structure attributes also exist which lead directly to a lessening of opportunities and numbers for would‐be entrepreneurs. This leads to fewer new ventures and hence less innovation. Examines structural elements and factors regarding whether or not these factors can result in being either stimulating or dampening entrepreneurial activity. Also provides a set of recommendations on what a society or locale can do to provide the positive structure needed to maintain or propel innovation and entrepreneurship.

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Marketing Intelligence & Planning, vol. 12 no. 9
Type: Research Article
ISSN: 0263-4503

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Article
Publication date: 1 October 2002

Amir M. Hormozi, Gail S. Sutton, Robert D. McMinn and Wendy Lucio

Planning plays an important role in determining the degree of success realized by a new or small business. Essential elements to business success are identification of…

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29081

Abstract

Planning plays an important role in determining the degree of success realized by a new or small business. Essential elements to business success are identification of goals, followed by development of strategies to meet those goals. A business plan is an effective tool used by businesses to organize these goals and objectives into a coherent format. It can be defined as operating a company on paper. No matter the size or stage of development, companies use business plans to improve internal operations and to describe and market the business to potential outside financiers. A business plan should not only reflect the individuality of the new business but should also follow a standard format. This format is comprised of four major sections: introductory elements, business section, financial statements, and the appendix. This paper seeks to address that utilizing business planning as a tool will allow new or small businesses to achieve and even surpass their goals.

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Management Decision, vol. 40 no. 8
Type: Research Article
ISSN: 0025-1747

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Abstract

Details

Reflections and Extensions on Key Papers of the First Twenty-Five Years of Advances
Type: Book
ISBN: 978-1-78756-435-0

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Article
Publication date: 3 May 2016

Andrea Furlan

Studies on spinoffs neglect firms founded by single individuals (i.e. proprietorships) thus overlooking a large portion of new ventures. Moreover, scholars usually do not…

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1398

Abstract

Purpose

Studies on spinoffs neglect firms founded by single individuals (i.e. proprietorships) thus overlooking a large portion of new ventures. Moreover, scholars usually do not consider the effect of the rank, and the amount, of founder’s working experience on spinoff’s survival. The purpose of this paper is to analyze a sample of 3,456 Italian manufacturing proprietorships.

Design/methodology/approach

Out of an initial population of some 6,000 firms, the authors obtained a sample of 3,456 usable records with complete information about new ventures and founders’ background. The authors relied on the class of methods known as “proportional hazard models” to perform survival analyses.

Findings

Analyses show that spinoffs from surviving parents outlive other startups. Surprisingly, spinoffs from high-ranked positions have comparable hazard rates than other startups while spinoffs from low-ranked positions have lower hazard rates than other startups. Finally, industry-specific working experience has a curvilinear inverted U-shape effect on spinoffs’ survival.

Originality/value

The present study contributes to the debate on spinoffs’ survival and bears important ramifications into the relationship between knowledge inheritance and entrepreneurial dynamic capabilities. It is also helpful in informing public policies aimed at encouraging entrepreneurial activities in the form of new proprietorships.

Details

International Journal of Entrepreneurial Behavior & Research, vol. 22 no. 3
Type: Research Article
ISSN: 1355-2554

Keywords

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