Search results

To the best of the authors’ knowledge, this paper is a first attempt to deal with the phenomenon of new venture failure from the business network perspective of the Industrial Marketing and Purchasing (IMP) Group. In particular, this study aims to explore the post-failure phase of a new venture to investigate what happens to the new venture’s resources and relationships in the aftermath of its failure and the role of the entrepreneur in this process.

The paper builds on an explorative multiple case study of two failed new ventures, unfolding the failure and post-failure phase: evidence from both cases is confronted and discussed.

This study shows that the post-failure is a complex phase of recombination of activities and residual resources that may lead to new business opportunities. It is discussed that residual resources influence the direction and extent of post-failure activities in terms of restrictions as well as opportunities to restart new projects or ventures. It is also shown how the entrepreneur deals with the “business remains”.

While much attention has been devoted to new ventures’ failure, the paper focuses on the post-failure phase, an almost neglected topic in industrial marketing research. This study sheds some new light upon the journey through which entrepreneurs come to develop the set of resources, activities and relationships that are not only key to the establishment of the venture but also relevant in the complex and intricate trajectories of post-failure.

With the aim of furthering the understanding of project speed and how to manage the urgent project, the purpose of this paper is to investigate the management challenges involved in delivering a telecommunications infrastructure project in a period of much shorter duration than a similar project. The authors wanted to understand the reasons behind the urgency and how the project management team succeeds in delivering in such a tight time window. Finally, the authors assessed the consequences (negative and positive, during and after the project delivery), knowing that the project was considered a success at its delivery, but not that it was successful at the post-project evaluation.

A case study based on qualitative research interviews with management team including the client, the main contractor and some related stakeholders, combined with case archives and internal documentation from the case project.

The urgency of a project or programme may lead to some negative consequences and impacts. The success seen in a short- and mid-term view is not enough to justify making acceleration decisions: thus holistic thinking and a long-term sustainable approach are needed to ensure continuity and profits.

This research is based on a single case study. There are some limitations regarding how urgent and unexpected the case was managed in comparing to normal case. A second limitation is that there is no clear definition of what are normal practices such that we can say what are a normal case and an urgent case.

There are some lessons learned from this case study about managing the unexpected and the urgent. Practitioners can obtain insight into positive and negative consequences of fast project delivery from this case.

This study is unique in its content and context, since it presents the first-hand insight into a case study that seemed to be successful to some extent (short-term impact); however, negative consequences appeared within a few years of its delivery.

This paper aims to detail the actions of the Russian subsidiary of a multinational IT company, during the COVID–19 pandemic, aimed toward the exploration and exploitation of unexpected business opportunities. It depicts the strategic and tactical actions of the subsidiary and corporate initiatives during the pandemic, revealing tensions between the subsidiary and its corporate parent on implementation of each’s initiatives.

A case study is presented, based on action research, using internal documents from the company under consideration, participation in various working meetings, meetings with customers and interviews with subsidiary management.

The strategic actions implemented by the subsidiary during the pandemic exemplify strategic agility, i.e. a set of activities carried out by a company that create value in a turbulent and unpredictable environment which in turn require systematic variations in specific processes, products and structures. Some of those variations included the unauthorized amendment of internal corporate rules, leading to tensions between the subsidiary and parent company. This case illustrates that such parent-subsidiary tensions are an inevitable element of achieving agility at the subsidiary level, especially during rapid and unpredictable changes in the business environment.

This study presents the flow of events in one multinational corporation subsidiary. However, the authors speculate that similar situations (subsidiary actions exploiting emergent business opportunities and which have been restricted by rigid internal corporate rules and regulations and low receptivity from corporate headquarters) occurred in many multinational corporation subsidiaries, aiming to explore and exploit nascent business opportunities in local markets during the pandemic.

The study confirms the necessity for the review of the functioning of the corporate immune system of large multinational corporations to allow more subsidiary initiatives to flourish than before the pandemic.

The paper presents a case of strategic agility at subsidiary level during the pandemic. It also uncovers the black-boxing managerial decision-making processes in headquarters-subsidiary relations during the extreme turbulence of business environment.

The research aims to investigate how firms can develop their sensing capabilities for Industry 4.0 (I4.0) technology adoption through reframing their opportunity perceptions related to learnings from I4.0 initiatives.

The research follows a design science research approach. Following the case of I4.0 technology introduction at a large food manufacturer, the paper develops a theoretical framework (artefact) and validates the applicability and efficacy of the framework within the case study.

The theoretical framework highlights the different temporal (short-term/long-term) and locational (direct/indirect) value dimensions of I4.0 opportunities. The findings show that the use of the framework can shift managers’ perception regarding the business value of an I4.0 technology implementation. Specifically, the framework reversed initially negative perceptions around a narrowly scoped business case towards an opportunity-oriented attitude exploring further potentials of the technology.

The research adds to the debate when and why firms engage in, and sustain their I4.0 initiatives by providing a novel perspective on firms’ sensing capabilities. As a single-case study, the framework requires further validation in practice.

The proposed framework provides practitioners with an extended view concerning the potential value of digital transformation projects and serves as a conversational tool.

The presented wider frame for evaluating digital transformation projects, taking into account the more “intangible” value of their learnings, tackles the fundamental issue of translating explorative innovation efforts into exploitative value – a key challenge when dealing with innovation and one of the main barriers for the digital transformation.

During the past decade, the incidence of women starting businesses dramatically accelerated in the US. A national, representative sample of women (and men) business owners was interviewed by telephone to understand better this phenomenon. This analysis focuses on women business owners who left corporate careers to start their own businesses. Respondents' experiences with corporate “glass ceilings” and “glass walls”, such as lack of flexibility and challenge, lack of role models and mentors, lack of access to line positions with concomitant intrapreneurial opportunities, and failure of organizations to credit and reward women's contributions, are examined. Differences among three age cohorts of women business owners, included in the analysis, portend increased difficulty for companies in retaining talented women professionals and managers, especially those with entrepreneurial interests. Recommendations to companies include identifying and eliminating barriers to women's advancement in the corporate culture and work environment, and development of more intrapreneurial opportunities.

This article introduces the key findings from investigating technology's role in mitigating the business slowdown enforced by the COVID-19 pandemic and the associated increased reliance on technological means among Saudi firms and citizens to facilitate business operations and other daily life routines, and the impact of this increase in technology adoption on the Saudi digital ecosystem and creating an inviting environment to digital entrepreneurship.

A qualitative interview methodology is undertaken to understand Saudi managers’ perceptions about the COVID-19 pandemic and digital entrepreneurship.

A significant finding is that now than ever before, the Saudi market is ready to accommodate more digital entrepreneurial ventures and digitalisation support services. Due to the pandemic's negative implications on the Saudi economy and the business slowdown associated with social distancing measures, a substantial increase in digital orientation and a need for technological solutions were noticed among Saudi firms. This means more attention needs to be placed on how Saudi firms can capitalise on the knowledge economy and digital revolution.

Saudi citizens have become more reliant on technology to manage daily activities and shop for their needs, creating opportunities for digital entrepreneurship to serve and fulfil firms' and people's increased demand for technology solutions.

Given the complexity of inclusive business (IB) to combine social contribution and business sustainability, companies make strategic choices. One multinational corporation (MNC) avoided interconnections with villagers and used only market-based relations with stimulants and incentives in the market. Another one delegated management completely to local partners, succeeding in stimulating the poor’s self-initiated economic activities. MNCs seem to have difficulties in handling institutional interconnections. In such cases, market-based relations or delegating management to the local partners were found to be highly effective for covering missing capabilities. One foreign NGO, despite its well-developed institutional interconnections with the locals, is struggling to develop markets for its social enterprises. In contrast, one local trust successfully cooperated with many local partners, appealing to local institutions (values and beliefs). Also, poor farmers felt the social contributions of two local companies by being incorporated into the companies’ supply chains backed by their corporate social responsibility (CSR) orientations and activities. Hence, both foreign and domestic organizations seem to succeed in IB by embedding their projects to their original institutions and developing diverse mechanisms to compensate for missing capabilities. One exception is a local company which successfully coordinated MNCs’ CSR activities, local communities, and governments. However, its success is owing to governmental regulation for CSR contribution. In general, though restricted by institutional backgrounds and business orientations, each case tried to create a fit between business models and its contingencies, achieve scale (at the level of communities, nations, or the global market) and business sustainability, and generate socioeconomic effects.

Very little research has been conducted on the specific topic of intergenerational transmission of the entrepreneurial spirit. The current study aims to elucidate the concept of entrepreneurial spirit. The purpose of this paper is to identify the main factors that influence sons and daughters of immigrant entrepreneurs in their decisions to take over from their parents or start new businesses.

Semi‐directed interviews with the children of immigrants (aged 18 to 35) have been conducted in the area of Montreal. Their parents are or were entrepreneurs and the interviews focused on how interviewees perceive entrepreneurship.

Ethno‐cultural background does not play a significant role in this transmission. Parents do not have a direct influence on the development of an entrepreneurial spirit among their offspring. Interviewees identify more with an “open culture” rather than with a specific ethnic identity.

The data must be subjected to other types of analysis and methodologies. Studies in other contexts must also be conducted in order to compare the findings.

The paper raises the importance of working on opening existing institutions to these second generation entrepreneurs, rather than to favour the creation of specific institutions based on ethnic identity. Entrepreneurship empowerment among second‐generation immigrants should focus on new possibilities rather than on perpetuating traditional niches occupied by ethnic minority entrepreneurs.

The paper focuses on the manner in which an entrepreneurial spirit is transmitted to the second generation. This study is grounded in the social processes that trigger business creation and the transmission of an entrepreneurial spirit among ethnic minority groups.

This study aims to explore the relationship between institutional and macroeconomic factors and corporate financial flexibility while also investigating the moderating impact of selected board governance mechanisms on this relationship.

The sample of the study comprises 174 firms listed on the Colombo Stock Exchange for a period of eight years, from 2014 to 2021. Data were collected from secondary sources, and both descriptive and inferential statistical techniques were used for analyses.

Corporate financial flexibility is notably affected by profitability as an institutional factor and by gross domestic product growth rate and banking sector development as macroeconomic factors. Furthermore, the relationship between a company’s profitability and corporate financial flexibility is found to be moderated by selected board governance mechanisms. However, these governance mechanisms do not influence the relationship between corporate financial flexibility and other institutional factors (i.e. other than profitability) and macroeconomic factors considered in this study.

This study adds a fresh perspective to the existing body of knowledge in the field of corporate finance by emphasizing the interaction effect of board governance mechanisms on the association between macroeconomic and institutional variables and financial flexibility of firms. The findings are expected to be useful for business decision-makers in managing their corporate financial flexibility effectively and maximizing the use of their financial resources.

This paper aims to present an original conceptual model that captures the orientations of new business founders in the fashion design sector as they navigate the tension between creative endeavour and business practice.

The start‐up experiences of 38 fashion designers from the four main fashion centres in New Zealand were examined using an interpretive narrative approach. The designers' enterprise development narratives were analysed using in‐depth literary and conceptual analyses to reveal the nature and context of their start‐up behaviour and the conceptual frameworks they employed to make sense of their start‐up behaviour.

The designers were, to varying degrees, preoccupied with a perceived tension between creative processes and business practices. This tension was typically experienced as a disjunction between self‐identity and the identities supported by the business models designers worked within. Successfully navigating this tension could require significant conceptual shifts or fundamental adjustments in business approaches which challenged designers' original rationales for start‐up. The analysis of designers' responses to the creativity‐business tension and how they made sense of this produced a conceptual framework, a space delineated by three basic enterprise orientations: creative enterprise orientation (CEO), creative business orientation (CBO), and fashion industry orientation (FIO).

This conceptual framework has major implications for policy makers and providers of design education and business support as it offers a means of differentiating between the lived‐in experiences of designers. In so doing it could be used as a tool for tailoring support more appropriately to designers' needs. The narrative approach produced rich, contextualised insights and a template for the further studies that will be required to establish the wider applicability of the framework.

The original conceptual framework presented here provides much needed insight into creative business start‐ups that will allow better targeting of education, support and policy development. The approach used to create this framework is an innovative example of how narrative and sensemaking approaches can be combined to provide rich insights into enterprise creation from the entrepreneur's perspective.