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To study how entrepreneurial environments influence entrepreneurial opportunities and capacities in China.
Abstract
Purpose
To study how entrepreneurial environments influence entrepreneurial opportunities and capacities in China.
Design/methodology/approach
This paper constructs statistical models to test the relationship between environmental factors and entrepreneurial opportunities or capacities in 13 cities in China according to the conceptual model of GEM. Based on the data derived from GEM reports, the authors use principal component of factor analysis and lest square regression to study the impacts of entrepreneurial environments on entrepreneurial opportunities and capacities empirically.
Findings
This paper indicates that among 13 Chinese cities, if one city has more favorable conditions in terms of nine factors of entrepreneurial environments, it will have more entrepreneurial opportunities, and its entrepreneur will have higher capacities. Moreover, the authors find the extent of the impacts of the economic and cultural environments on entrepreneurial opportunities and capacities is higher than that of political and market environments.
Research limitations/implications
The quantity of sample statistics is relatively small, because it is difficult to develop the GEM project roundly in China.
Originality/value
This paper provides Chinese government with theoretical support so that the government can utilize limited resources to develop entrepreneurial activities. Meanwhile, it furthers foreign researchers and investors to understand the specific conditions in terms of Chinese entrepreneurial environments, opportunities, and capacities more clearly.
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This chapter deals with the process perspective of entrepreneurship, that is, what prospective entrepreneurs should do and how they do it (the processes they use) to launch a new…
Abstract
Purpose
This chapter deals with the process perspective of entrepreneurship, that is, what prospective entrepreneurs should do and how they do it (the processes they use) to launch a new venture in the tourism field. The main purpose of this chapter is to explain what the entrepreneurial process is, the steps/phases to transit from idea to enterprise and the risks involved.
Methodology/approach
General review was conducted on conceptual issues and managerial aspects of the entrepreneurial process and legal issues.
Findings
This chapter highlights that the entrepreneurial process undergone by entrepreneurs is dual in nature, both in terms of action and thinking process. Given that the failure rate of new ventures is high, there is a need to focus on the importance of understanding the dynamics of entrepreneurship, the action process of the prospective entrepreneur and the potential risk impact.
Research limitations/implications
This chapter is explorative in nature because the discussion is based on a general review.
Practical implications
Prospective entrepreneurs should follow specific steps, a rational process to establish their business venture and to protect its operations against any event. Thus, any new business should manage risks appropriately, as well as record insurance to cover for unforeseen events.
Originality/value
This chapter provides an overview of the entrepreneurial process and legal risk issues that may affect the success of a new venture. The hands-on approach is particularly useful in dealing with the entrepreneurial mind when exploring new business ventures in the tourism field.
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Jeffery S McMullen and Dean A Shepherd
Shane and Venkataraman (2000) suggest “the field [of entrepreneurship] involves the study of sources of opportunities; the processes of discovery, evaluation, and exploitation of…
Abstract
Shane and Venkataraman (2000) suggest “the field [of entrepreneurship] involves the study of sources of opportunities; the processes of discovery, evaluation, and exploitation of opportunities; and the set of individuals who discover, evaluate, and exploit them” (p. 218). However, the study of the judgment required for opportunity evaluation has been greatly overshadowed by interest in opportunity recognition and to a lesser extent opportunity exploitation. This is surprising considering the number of economic theories of the entrepreneur that recognize sound judgment as a principal quality of entrepreneurship (Cantillon, 1755; Kirzner, 1973; Knight, 1921; Mises, 1949; Say, 1840; Schumpeter, 1934; Shackle, 1955). In fact, the first recognized theory of the entrepreneur defined the entrepreneur as someone who exercises business judgment in the face of uncertainty (Cantillon, 1755/1931, pp. 47–49). Similarly, Knight (1921, p. 271) suggests that the essence of entrepreneurship is judgment, born of uncertainty, and argues that it is this judgment that delineates the function of entrepreneur from that of manager. He goes on to point out that the function of manager does not in itself imply entrepreneurship but that a manager becomes an entrepreneur when he exercises judgment involving liability to error (Knight, 1921, p. 97). However, the judgment referred to by these theorists is not just any form of judgment, it is judgment exercised in the decision of whether to take action.
Alireza Amini, Seyyedeh Shima Hoseini, Arash Haqbin and Mozhgan Danesh
A better understanding of the characteristics and capabilities of women entrepreneurs can significantly improve their chances of success. Therefore, three studies were conducted…
Abstract
Purpose
A better understanding of the characteristics and capabilities of women entrepreneurs can significantly improve their chances of success. Therefore, three studies were conducted for this exploratory paper. We have discovered the characteristics of entrepreneurial intelligence among female entrepreneurs through semi-structured interviews based on conventional content analysis. According to the second study, qualitative meta-synthesis was utilized to identify characteristics of women's entrepreneurial intelligence at the international level. As a third study, we examined the evolutionary relationships of entrepreneurs' intelligence components following the discovery and creation of opportunities.
Design/methodology/approach
The present paper was based on three studies. In the first study, 15 female entrepreneurs were interviewed using purposive sampling in the Guilan province of Iran to identify the characteristics of entrepreneurial intelligence at the national level. An inductive content analysis was performed on the data collected through interviews. Using Shannon entropy and qualitative validation, their validity was assessed. In the second study, using a qualitative meta-synthesis, the characteristics of women's entrepreneurial intelligence were identified. Then the results of these two studies were compared with each other. In the third study, according to the results obtained from the first and second studies, the emergence, priority and evolution of entrepreneurial intelligence components in two approaches to discovering and creating entrepreneurial opportunities were determined. For this purpose, interviews were conducted with 12 selected experts using the purposeful sampling method using the fuzzy total interpretive structural modeling (TISM) method.
Findings
In the first research, this article identified the components of entrepreneurial intelligence of women entrepreneurs in six categories: entrepreneurial insights, cognitive intelligence, social intelligence, intuitive intelligence, presumptuous intelligence and provocative intelligence. In the second study, the components of entrepreneurial intelligence were compared according to the study at the national level and international literature. Finally, in the third study, the evolution of the components of entrepreneurial intelligence was determined. In the first level, social intelligence, presumptuous intelligence and provocative intelligence are formed first and social intelligence and provocative intelligence have an interactive relationship. In the second level, entrepreneurial insight and cognitive intelligence appear, which, in addition to their interactive relationship, take precedence over the entrepreneur's intuitive intelligence in discovering entrepreneurial opportunities. With the evolution of the components of entrepreneurial intelligence in the opportunity creation approach, it is clear that intuitive intelligence is formed first at the first level and takes precedence. At the second level, there is cognitive intelligence is created. At the third level, motivational intelligence and finally, at the last level, entrepreneurial insight, social intelligence and bold intelligence.
Originality/value
This study has the potential to discover credible and robust approaches for further examining the contextualization of women's entrepreneurial intelligence at both national and international levels, thereby advancing new insights. By conceptualizing various components of entrepreneurial intelligence for the first time and exploring how contextual factors differ across nations and internationally for women's entrepreneurship, this paper challenges the assumption that the characteristics of women's entrepreneurial intelligence are uniform worldwide. It also depicts the evolution of the components of entrepreneurial intelligence.
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Recognition of a profit opportunity requires a framework of knowledge to place information about a profit opportunity in a context where it can be recognized. The same information…
Abstract
Recognition of a profit opportunity requires a framework of knowledge to place information about a profit opportunity in a context where it can be recognized. The same information about a profit opportunity could be revealed to many people, yet only a few with the appropriate knowledge will be able to place this information into a context that suggests to them a profit opportunity. This paper discusses how entrepreneurs gain knowledge to enable them to be more entrepreneurial, and shows how an economy generates information about entrepreneurial opportunities. Entrepreneurship adds to an economy’s knowledge base, making it easier to recognize profit opportunities when they arise.
Fredrick Muyia Nafukho and Walid El Mansour
The purpose of this paper was to determine the factors that enable entrepreneurial opportunity recognition and the significant role of education and training in enhancing…
Abstract
Purpose
The purpose of this paper was to determine the factors that enable entrepreneurial opportunity recognition and the significant role of education and training in enhancing opportunity recognition.
Design/methodology/approach
This paper follows a systematic literature review method to answer the research questions. A systematic literature review allows us to determine the work carried out to date, how it was done, assess literature and report all relevant research. The authors have used the Preferred Reporting Items for Systematic and Meta-Analysis procedure.
Findings
The findings of this study showed that prior knowledge, social networks, external environment, entrepreneurial alertness, creativity, self-efficacy and entrepreneurial passion are the main factors that play a role in the opportunity recognition process. The authors were also able to establish the importance of education and training in enhancing opportunity recognition. Experiential learning is at the forefront of education methods used to improve prior knowledge and experience that directly impact the ability to recognize entrepreneurial opportunities.
Practical implications
The paper provides human resource development practitioners and entrepreneurship educators with factors that determine entrepreneurial opportunity recognition. It pinpoints the factors that can be exploited in enhancing employees and novice entrepreneurs’ ability to recognize viable entrepreneurial opportunities.
Originality/value
Opportunity recognition is recognized as the first step in the entrepreneurship process. Therefore, it is crucial for entrepreneurs to have the ability to recognize opportunities that are viable. Understanding the factors that contribute to a successful opportunity recognition is important. In addition, the role of education and training in opportunity recognition and enhancing entrepreneurial opportunity recognition cannot be overlooked.
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Valentina Cucino, Giulio Ferrigno, James Crick and Andrea Piccaluga
Recognizing novel entrepreneurial opportunities arising from a crisis is of paramount importance for firms. Hence, understanding the pivotal factors that facilitate firms in this…
Abstract
Purpose
Recognizing novel entrepreneurial opportunities arising from a crisis is of paramount importance for firms. Hence, understanding the pivotal factors that facilitate firms in this endeavor holds significant value. This study delves into such factors within a representative empirical context impacted by a crisis, drawing insights from existing literature on opportunity recognition during such tumultuous periods.
Design/methodology/approach
The authors conducted a qualitative inspection of 14 Italian firms during the COVID-19 pandemic crisis. The authors collected a rich body of multi-source qualitative data, including 34 interviews (with senior managers and entrepreneurs) and secondary data (press releases, videos, web interviews, newspapers, reports and academic articles) in two phases (March–August 2020 and September–December 2020).
Findings
The results suggest the existence of a process model of opportunity recognition during crises based on five entrepreneurial influencing factors (entrepreneurial knowledge, entrepreneurial alertness, entrepreneurial proclivity, entrepreneurial personality and entrepreneurial purpose).
Originality/value
Various scholars have highlighted that, in times of crises, it is not easy and indeed very challenging for entrepreneurs to identify novel entrepreneurial opportunities. However, recent research has shown that crises can also positively impact entrepreneurs and their capacity to identify new entrepreneurial opportunities. Given these findings, not much research has analyzed the process by which entrepreneurs identify novel entrepreneurial opportunities during crises. This study shows that some entrepreneurial influencing factors are very important to identify new entrepreneurial opportunities during crises.
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Babak Ziyae and Majid Vagharmousavi
Strategic entrepreneurship (SE) is effective in the formation of business strategies that involve simultaneous opportunity-seeking and advantage-seeking behaviors. SE revitalizes…
Abstract
Purpose
Strategic entrepreneurship (SE) is effective in the formation of business strategies that involve simultaneous opportunity-seeking and advantage-seeking behaviors. SE revitalizes firms to achieve competitive advantage in the current turbulent markets. The purpose of this paper is to understand in more detail how SE influences business growth (BG) through the lens of dynamic capabilities (DC) theory.
Design/methodology/approach
Using a quantitative research method and structural equation modeling technique, the measurement and structural models were developed to test the research hypotheses. For this purpose, a survey was conducted among 159 internet of thing (IoT)-based companies in Iran.
Findings
The findings show that DC theory provides the theoretical underpinning to describe the effect of SE and its dimensions on entrepreneurial opportunity recognition (EOR). Results also reveal that EOR mediates the relationship between SE and BG. Furthermore, this research empirically verifies that organizational entrepreneurship and value creation moderate the relationship between EOR and BG.
Originality/value
IoT identifies a pathway for continuous change that helps to improve firms’ competitiveness and innovation. This paper provides a new insight into how Iranian IoT-based companies can enhance their SE to recognize entrepreneurial opportunities and gain competitive advantage. Mainly, this study singles out and discusses the variegated features that characterize the implementation of SE by Iranian IoT-based companies having different characteristics.
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Keywords
Javier Monllor and Patrick J. Murphy
The purpose of this paper is to contribute a deeper understanding of how natural disasters influence entrepreneurial intentionality as an important antecedent of entrepreneurial…
Abstract
Purpose
The purpose of this paper is to contribute a deeper understanding of how natural disasters influence entrepreneurial intentionality as an important antecedent of entrepreneurial intention. It reviews the conceptual and operational backgrounds of natural disaster research and entrepreneurship theories and formulates a distinctive conceptual approach to entrepreneurial intentions in natural disaster settings.
Design/methodology/approach
An exhaustive review of research articles published in peer-reviewed entrepreneurship journals is provided and focuses on entrepreneurship, natural disasters, and entrepreneurial opportunities.
Findings
Six propositions about the influence of natural disasters on entrepreneurial intentions in ways that are distinct to the specific circumstances of post-disaster environments.
Research limitations/implications
The paper’s findings serve as a useful foundation for future research of post-disaster entrepreneurial behavior. The propositions highlight the relationship between opportunities, self-efficacy, feasibility, desirability, fear of failure, and resilience that complement macro-level research with micro-level antecedents. Implications entail new methodological avenues for future studies of humanitarian and post-disaster entrepreneurial activities.
Practical implications
This paper suggests ways in which public policy and educational, state and community programs can be designed and executed so that entrepreneurial intentions are developed and entrepreneurial action is not hindered. Moreover, it clarifies several ways to achieve more effective action (or inaction) to serve those affected by natural disasters and minimize disaffection.
Originality/value
The study illustrates that natural disasters can and do create opportunities for entrepreneurial behavior even as they generate powerful and sweeping negative effects on socioeconomic systems. Its unique approach explores individual-level variables concerning intent and motivation that drive entrepreneurial decisions in disaster contexts.
Details
Keywords
Md Imtiaz Mostafiz, Murali Sambasivan and See Kwong Goh
The international entrepreneurial capability has achieved its legitimacy in international business literature. Leveraging capabilities to recognise opportunities is considered a…
Abstract
Purpose
The international entrepreneurial capability has achieved its legitimacy in international business literature. Leveraging capabilities to recognise opportunities is considered a pivotal strategy to achieve success. Drawing on the entrepreneurship literature and opportunity perspective, this study aims to investigate the role of international entrepreneurial capability in enhancing the international opportunity recognition (IOR) process and the performance of export manufacturing firms.
Design/methodology/approach
Structural equation modelling has been used to test the hypothesised relationship on 388 export manufacturing entrepreneurial firms operating in the apparel industry of Bangladesh.
Findings
The results signify that three international entrepreneurial capabilities, namely, international networking, learning and marketing capability, positively enhance the IOR process of export manufacturing firms. The IOR process positively mediates the relationships between these international entrepreneurial capabilities and firm performance.
Originality/value
Merely having the international entrepreneurial capability is not sufficient to escalate the firm performance. It must be amplified by various strategic actions such as the IOR process. Entrepreneurs need to capitalise on the international entrepreneurial capability to leverage the IOR process and generate non-financial performance success. Entrepreneurial firms that focus more on stimulating non-financial performance can secure better financial performance.
Details