Discovering the collective entrepreneurial opportunities through spatial relationships

IMP Journal ◽  
2018 ◽  
Vol 12 (2) ◽  
pp. 276-295 ◽  
Author(s):  
Chiara Cantù
Keyword(s):  
Digital Fabrication ◽  
Business Relationships ◽  
Content Type ◽  
Study Approach ◽  
Business Partners ◽  
Entrepreneurial Opportunities ◽  
Start Up ◽  
New Business ◽  
Start Ups

Purpose Even if in a traditional perspective the discovery and the exploitation of opportunities are associated to the entrepreneur’s capabilities, a relational perspective is required to better analyze the phenomenon of starting up a new venture. The growing attention to interaction with the external environment has been emerging as a precondition of the entrepreneurial processes as it creates the knowledge and the experience necessary to perceive the opportunity. The entrepreneurial opportunities are created through joint acts with others through social relationships. Shifting the attention from social to business relationships, the main aim of this paper is to investigate the discovery and the exploitation of collective entrepreneurial opportunities in starting up new business. In particular, the purpose of this paper is to analyze the role of relational proximity in the entrepreneurial journey considered as an emergent process of transforming potentiality into actuality. Design/methodology/approach The paper applied a qualitative methodology (Dubois and Araujo, 2004) and a case study approach (Barrat et al., 2011). The case concerns the dyadic spin-off relationship between the innovative start up, ShapeMode (the generated firm), and the Milan FabLab (the generating firm) located in Lombardy Region (Italy). Findings The emerging of collective entrepreneurial opportunities could be analyzed at two levels: the first one concerns the dyadic spin-off relationship, while the second one is founded on the business relationships that the start-up can activate with the business partners of the generating firm. The collective entrepreneurial opportunities are positive influenced by jointness of the actors and their co-evolution, founded on the shared values and goals. Research limitations/implications Although the case study approach allowed the researcher to gain detailed information about the spin-off relationship, this effort does not measure the performance outcomes of the relationships and actions that were taken to improve the competitiveness of the start-up. Future studies would benefit from a large-scale questionnaire given to the members of the start-up and to the actors of its Entrepreneurial Network, so to analyze all of its performance implications for the start-up and the network as a whole. In addition, it could be of interest for future research to investigate the effects of collective entrepreneurial opportunities in order to examine this topic more deeply. Practical implications From a managerial point of view, even if the growing number of start-ups has been associated to a temporary phenomenon, the development of new ventures is now consolidated. A new managerial approach is required to promote the birth and the growth of the start-ups. The development of a new venture requires to shift the attention from the collection of financial resources to the exploitation of entrepreneurial opportunities generated by interconnected business relationships. In this way a relevant attention should be recognized to the new role of organizations that can be considered as facilitators of business relationships, such as the FabLab. This paper sheds light on the relevance of the strategic networking that sustains the generation of collective entrepreneurial opportunities. The networking involves actors that belong to different geographic area and different countries but that are focused on the same business dream related to the exploitation of potentialities of digital fabrication. The policymakers should recognize the role of the FabLab as facilitator of knowledge diffusion concerning digital fabrication. Originality/value The entrepreneurial opportunities such as the starting up of a new business and its evolution, are enacted, discovered and exploited through interconnected business relationships. In particular the main entrepreneurial opportunities are generated by the activation of business relationships with new business actors. Focusing on the dyadic spin-off relationship, the exploitation of collective entrepreneurial opportunities depends on the sharing of third actors. The business partners of the generating actor (FabLab) became business partners of the generated actor (start-up). The evolution of the generating firm (FabLab) influenced the birth and the evolution of the generated firms (start-up). The dyadic relationship allows the generated firm to discover entrepreneurial opportunities and to exploit them, accessing to the business partners of the generating firm. The effectiveness of the spin-off relationship sustains the replication of the model of new firm generation, that could benefit from the relationships of the two actors of the dyad. Moreover the strong relationships are founded on relational proximity that is characterized by the sharing of values, vision and business dreams.

Exploring the role of business relationships in start-ups’ life cycles

IMP Journal ◽  
2018 ◽  
Vol 12 (3) ◽  
pp. 519-543
Author(s):  
Chiara Cantù ◽  
Sepe Giorgia ◽  
Alessandra Tzannis
Keyword(s):  
Life Cycle ◽  
Secondary Data ◽  
Life Cycles ◽  
Business Relationships ◽  
Structured Interviews ◽  
Content Type ◽  
Strategic Resources ◽  
Start Up ◽  
Start Ups

Purpose Differently from previous works that focused on the entrepreneur and on his ability to manage social relationships, the purpose of this paper is to investigate the role of business relationships in the different stages of the life cycle of a start-up. Design/methodology/approach Since the paper aims to explore startups’ evolutionary phenomenon, it adopts a qualitative abductive methodology, presenting an in-depth study of two innovative Italian start-ups. The research is based on two steps. In the first one, the authors collected secondary data from start-ups’ reports and documents, financial indicators (when available) and processed them to understand their background. In the second one, the authors conducted ten semi-structured interviews, including face-to-face interviews, phone interviews and video conferences. Findings The paper presents a relationship-based life cycle model composed of four different stages, depending on the number and role of relationships developed. Indeed, since the beginning, start-ups adopt a relational approach and their evolution involves the shift from the focus on the entrepreneur to the centrality of a network approach based on interconnected relationships. The entering into a new stage of life cycle depends on relationships, mainly based on connected actors and resources shared and combined. Even if a key role is assumed by technology, the main resource is identified in the knowledge concerning the customer/user’s needs that require marketing competencies, human resources, relational capabilities. Thus, the shift from one stage to the next in the start-up’s life cycle is possible thanks to a parallel shift from a focus on the activities to a focus on those strategic and heterogeneous actors that ensure activities. Originality/value In a traditional perspective, the start-up’s life cycle depends on activities, financial resources and revenues, as stated by previous life cycle models. In a different perspective, as depicted in our analysis, the evolution of a start-up depends on the portfolio of their business relationships. The role of business relationships is hence to facilitate the interconnections within specialized key actors, which allow start-ups to access strategic resources. These resources are essential in order to develop the activities that characterize the specific stage of the life cycle.

scholarly journals Understanding the accelerator from resources-based perspective

2018 ◽  
Vol 12 (3) ◽  
pp. 258-278 ◽  
Author(s):  
Chul Hyun Uhm ◽  
Chang Soo Sung ◽  
Joo Yeon Park
Keyword(s):  
Early Stage ◽  
Point Of View ◽  
Success Rates ◽  
Access To Resources ◽  
Content Type ◽  
Study Approach ◽  
Start Up ◽  
The Usa ◽  
Start Ups

Purpose This study aims to explore Accelerators and their practices in sustaining start-ups within their innovative programs for these companies based on the resource-based perspective. Moreover, with an ever-increasing demand for Accelerators amongst start-up companies, this study also demonstrates the importance of Accelerators, as it pertains to new venture creation. Design/methodology/approach This research uses an exploratory case study approach to examine a comparative view of leading Accelerator companies in the USA and Korea based on resource support. Findings The results of this study show that there are a number of differences between Accelerators of the two countries in terms of the resources they support for early-stage start-ups. The findings also show some similarities. However, in Korea, the Accelerator landscape is limited, where mentorship, resources and investments are not readily accessible, resulting in low success rates for Korean start-up companies. These limitations have had a negative trickle-down effect when providing entrepreneurs with strong access to resources and investors, which highly affects the success rates of early-stage start-ups. Practical implications In terms of the resource-based theory, this study contributes to the growth of early start-ups by emphasizing the role of the accelerator and suggesting the extent and impact that entrepreneurs have access to resources and investors. Originality/value With significant growth in start-ups around the world, the necessity for start-up funding and mentorship has increased drastically. Start-up companies need various types of assets, systems, knowledge and information to achieve their goals. In Accelerators, start-ups receive all the aforementioned resources while also improving their entrepreneurial skills. Start-up companies have many options in seeking investors who support both tangible and intangible resources to boost growth. While there is a wealth of information on traditional funding methods, there are few studies that shed light on the role of Accelerators from the resource-based point of view.

SECURE – a new business model framework for measuring start-up performance

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Tahseen Anwer Arshi ◽  
Venkoba Rao ◽  
Sardar Islam ◽  
Swapnil Morande
Keyword(s):  
Business Model ◽  
Emerging Economies ◽  
Performance Outcomes ◽  
Equation Modeling ◽  
Model Framework ◽  
Content Type ◽  
Start Up ◽  
New Business ◽  
Start Ups ◽  
The Impact

Purpose Existing business model frameworks show weak conceptual unification, a paucity of measurement focus and limitations when applied in emerging economies. The study proposes a new business model framework – “Start-up Evaluation Calculus Using Research Evidence” (SECURE). The purpose of this study is to allow the measurement of the impact of business model design on start-up performance in emerging economies. Design/methodology/approach Data collected from 713 entrepreneurs in select cities of India, Oman and the United Arab Emirates is analyzed through structural equation modeling. The study uses measurement and structural models to examine the validity of measures and additionally tests the five hypothesized relationships proposed in the study. Findings The SECURE’s components comprising desirability, marketability, feasibility, scalability and viability showed validity and reliability. They synergistically demonstrated a statistically significant effect on a mix of financial and non-financial start-up performance outcomes. An alternative structural relationship that examined the impact of SECURE on only financial performance outcomes showed a weaker model fit. The findings indicate that a business model framework is useful when its ex ante measures show a positive causal effect on the desired performance outcomes. Practical implications The scores obtained by the SECURE framework serve as an evaluative tool that informs entrepreneurs and start-ups on the readiness of their proposed, incubated or existing start-ups. Originality/value Replacing subjective judgments with objective assessment criteria, SECURE is one of the first quantitative and performance-driven business model frameworks that contain measures from all functional domains of a start-up business. Start-ups can evaluate their business models against the SECURE model’s research-driven quantitative criteria and assess their impact on start-up performance.

Value of initial relationships in new business start-ups

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Jose Novais Santos ◽  
Joao Mota
Keyword(s):  
New Ventures ◽  
Customer Relationships ◽  
Value Functions ◽  
Business Relationships ◽  
Business Network ◽  
Content Type ◽  
Customer Base ◽  
New Business ◽  
Start Ups ◽  
Over Time

Purpose Several studies have focussed on new ventures and the development of their first business relationships. However, the understanding of the value functions and involvement in those relationships remain inadequate. The purpose of this paper is to explore the relating process of a new venture by combining the value function framework and the notion of the degrees of involvement in business relationships. Design/methodology/approach The authors rely on two exploratory longitudinal case studies that focus on two start-ups. In both cases, the evolution of initial relationships with suppliers and customers over a period of time are studied. Findings The process of relating can occur through a diversity of business relationships manifested in both their value functions and their degree of involvement. The combination of value functions is not stable over time nor is the degree of involvement in business relationships. Moreover, specific interdependencies emerge between the value functions in the customer base and the supplier base of the new ventures over time. Originality/value This paper is among the few that explore the emergence of new ventures by considering both suppliers and customer relationships. From a business network perspective, the paper also shows that combining value functions and degrees of involvement provides a better understanding of the role of relationship diversity in the process of becoming a node in the business network.

Journey's end: a dynamic framework of entrepreneurial processes and capitals relating to early stage business exit

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Richard Hanage ◽  
Pekka Stenholm ◽  
Jonathan M. Scott ◽  
Mark A.P. Davies
Keyword(s):  
Case Studies ◽  
Early Stage ◽  
Theory Building ◽  
Cross Sectional ◽  
Content Type ◽  
Dynamic Framework ◽  
Longitudinal Dynamic ◽  
Start Up ◽  
New Business ◽  
Start Ups

PurposeThe purpose of this paper is to respond to the call by McMullen and Dimov (2013) for a clearer understanding of entrepreneurial journeys by investigating the entrepreneurial capitals and micro-processes of seven young early stage entrepreneurs who all exited their businesses within 3 years of start-up.Design/methodology/approachThe authors analysed empirical data from concurrent in-depth interviews which generated rich longitudinal case studies. Theory-building then led to a proposed “Longitudinal Dynamic Process Framework” of entrepreneurial goals, processes and capitals.FindingsThe framework builds on prior studies by integrating entrepreneurial processes and decisions into two feedback loops based on continuous review and learning. It thereby enhances understanding of the dynamics of new business development and unfolds the early stage ventures entrepreneurs' business exits.Research limitations/implicationsThe findings are based on a small purposive sample. However, the main implication for research and theory is showing how the entrepreneurial capitals are dynamic and influenced by entrepreneurs' environment, and also separating entrepreneurs' personal issues from their business issues.Practical implicationsThe findings challenge some assumptions of policymakers and offer new insights for practitioners and early stage entrepreneurs. These include having more realistic case-studies of the entrepreneurial journey, recognizing the need to be agile and tenacious to cope with challenges, understanding how capitals can interact in complementary ways and that entrepreneurial processes can be used to leverage them at appropriate stages of the start-ups.Originality/valueThe concurrent longitudinal analysis and theory-building complements extant cross-sectional studies by identifying and analysing the detailed processes of actual business start-ups and exits. The proposed framework thereby adds coherence to earlier studies and helps to explain early stage entrepreneurial development, transformation of capitals and business exit.

scholarly journals Open-mindedness and adaptive business style

2019 ◽  
Vol 36 (3) ◽  
pp. 365-390
Author(s):  
Gro Alteren ◽  
Ana Alina Tudoran
Keyword(s):  
Design Methodology ◽  
Total Population ◽  
Trust Building ◽  
Business Relationships ◽  
Export Markets ◽  
Content Type ◽  
New Business ◽  
High Level ◽  
Practical Implications

Purpose The purpose of this paper is to investigate the role of relational competences, such as open-mindedness and the ability to adapt business style, in developing trustworthy relationships through communication in the export markets in different cultural contexts. Design/methodology/approach The analysis is performed on survey-based data from a sample consisting of 39.9 percent of the total population of Norwegian seafood companies involved in exporting, including 108 business relationships. Findings The findings reveal that adaptive business style and communication mediate the overall effect of open-mindedness on trust building between partners in the export markets. The adaptive business style fully explains the effect of open-mindedness on communication. Open-minded persons are better prepared to achieve communication on a high level because they are more likely to adapt to a new business style. Performing adaptive business style improves communication, particularly when the importer belongs to a dissimilar culture. For trust building, communication is equally important, irrespective of cultural differences. Practical implications Exporter should aim at recruiting open-minded people because they have the advantage that they are capable of performing a variety of negotiation styles and business approaches, depending on the situation. Originality/value This paper develops a model that integrates key constructs from the relational paradigm with constructs rooted in different research streams, extending our knowledge regarding salespeople competences that are important in order to develop business relationships in export markets.

Entrepreneurial ecosystem for tech start-ups in Bangalore: an exploration of structure and gap

2020 ◽  
Vol 27 (7) ◽  
pp. 1167-1185
Author(s):  
Bala Subrahmanya Mungila Hillemane
Keyword(s):  
Gap Analysis ◽  
Primary Data ◽  
Ecosystem Structure ◽  
Entrepreneurial Ecosystem ◽  
Component Level ◽  
Policy Makers ◽  
Content Type ◽  
Start Up ◽  
Start Ups

PurposeBangalore has gained international recognition as a technology start-up hub for its vibrant entrepreneurial ecosystem. Against this backdrop, this paper attempts to explore the structure and gap that exist with respect to the entrepreneurial ecosystem for tech start-ups in Bangalore.Design/methodology/approachA Delphi technique based four stage interaction with the experts/stakeholders belonging to different components of the entrepreneurial ecosystem (as identified from the literature) in the context of Bangalore is conducted, to gather primary data. This enabled us to define the structure of entrepreneurial ecosystem and analyse the gap that exists between an ideal ecosystem feasible in the Indian context and that one that prevailed in Bangalore.FindingsThe prevailing entrepreneurial ecosystem for tech start-ups in Bangalore is significantly different (lower) relative to an ideal ecosystem feasible in the Indian economic environment, as prescribed by the Delphi experts, both at the aggregate level and at an individual component level. The step-wise (backward) logistic regression analysis revealed that Bangalore ecosystem is primarily lacking in terms of one of the Triple Helices, namely, role of education and research institutions, and two of the five indispensable components, namely, market maturity and mentorship.Research limitations/implicationsIt is essential to strengthen and promote the Triple Helix base and the five indispensable components in an entrepreneurial ecosystem, to accelerate the emergence and growth of tech start-ups.Practical implicationsIt brings out the nature of entrepreneurial ecosystem structure and the gap between what can be considered an ideal ecosystem and what prevails in Bangalore currently.Originality/valueThis is a primary data based study, which has value for regional policy makers in strategizing to promote Bangalore ecosystem, and for researchers in undertaking “ecosystem gap analysis”.

My choices are better than yours! Gender differences in narcissistic start-up entrepreneurs

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Simona Leonelli
Keyword(s):  
Gender Differences ◽  
Women Entrepreneurs ◽  
Content Type ◽  
Start Up ◽  
First Results ◽  
Specialized Team ◽  
Start Ups ◽  
Italian Sample ◽  
Better Than

PurposeThe paper explores the role of narcissism on entrepreneurs' decisions in terms of organizational choices, discussing gender differences. The aim relies in the influence that entrepreneurs' personality, capabilities and cognitive orientation have in the creation and management of start-ups.Design/methodology/approachAnalyzing an Italian sample of 207 entrepreneurs and using Analysis of variance (ANOVA) and generalized linear model methods, the hypotheses were tested to understand whether and how narcissism affects Research and development (R&D) expenditure, patent ownership and the presence of a specialized team in organizations led by women and men entrepreneurs.FindingsDifferences in the management and organizational choices of narcissistic women entrepreneurs compared to their men counterparts emerged. First, results show that women entrepreneurs are less narcissistic than men. Second, gender is shown to moderate the effect of narcissism on the choice of having a qualified team in a start-up. Third, narcissistic women entrepreneurs were found to engage less in risk-taking activities, such as R&D expenditure, and to patent their ideas more than their male counterparts.Originality/valueThe study expands the existing literature by applying a gendered lens to entrepreneurs' narcissism to investigate whether they behave and manage their start-ups differently.

Experiential learning model: improving entrepreneurial values through internship program at start-ups

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Donald Crestofel Lantu ◽  
Yulianto Suharto ◽  
Ira Fachira ◽  
Anggraeni Permatasari ◽  
Grisna Anggadwita
Keyword(s):  
Experiential Learning ◽  
Longitudinal Research ◽  
Business Students ◽  
Learning Experience ◽  
Work Culture ◽  
Content Type ◽  
Study Approach ◽  
Start Up ◽  
Analysis Technique ◽  
Start Ups

PurposeThe development of teaching methods in the field of entrepreneurship education is a challenge for academics to achieve “real active learning.” This paper aims to investigate the effectiveness of learning experience through internship program at start-ups. This paper examines the benefits and challenges from stakeholders' experiences and perspectives (business students, start-ups and universities). The authors focus on the entrepreneurial values obtained by exploring start-up processes, culture and work environments.Design/methodology/approachThis study uses qualitative research with a case study approach by applying experiential learning. The objects of this research are students of the School of Business and Management and start-ups in Indonesia. This study divides the pilot program of internship at start-ups into three stages, designing process, execution and evaluation. The analysis technique uses an interpretive approach from interviews and observations of internships based on experiential learning.FindingsThe results showed that the internship program at start-ups in this study has benefits for all major stakeholders, especially students. The results of student learning experiences show that start-ups' characteristics such as a creative work environment, egalitarian work culture and dynamic workflow flexibility can increase their professional and moral values.Research limitations/implicationsThis study has several limitations, including the internship program designed in this study, which is still raw and has several shortcomings. Time series in testing experiential learning is another limitation. For further study, it is necessary to conduct longitudinal research to measure the effectiveness of the start-ups' internship program.Originality/valueThis study provides new insights on experiential learning in developing an internship program at a start-up as an effort to increase entrepreneurial value for business students. This study highlights the possibility that an internship program at a start-up will have an impact on students' entrepreneurial values and competencies.

scholarly journals Leadership toward creativity in virtual work in a start-up context

2015 ◽  
Vol 27 (6) ◽  
pp. 426-441 ◽  
Author(s):  
Iris Annukka Humala
Keyword(s):  
Virtual Work ◽  
Content Type ◽  
Qualitative Research Study ◽  
Study Approach ◽  
Learning Challenges ◽  
Start Up ◽  
Information And Communication ◽  
Coaching Leadership ◽  
Start Ups ◽  
Practical Implications

Purpose – This paper aims to better understand how to lead toward creativity in virtual work in a start-up context. Design/methodology/approach – The study investigates the participants’ experiences about the learning challenges in leadership toward creativity in virtual work in a start-up company and the meanings attributed to their experiences, and the measures they see to meet those challenges. The data have been gathered on a Finnish partnership start-up company through interviews capturing peoples’ personal perspectives and experiences. This study uses a qualitative research study approach to better understand leadership toward creativity in virtual work in a start-up. Findings – The results underline the importance of co-creative and assertive coaching leadership in a start-up to foster creativity and create new shared value. Key persons’ multiliteracy skills and lobbying are means to manage social and physical distances in virtual work. Practical implications – The study suggests collaborative coaching leadership and assertiveness for start-ups to minimize mistakes in virtual work. Practitioners must unlearn old courses of action to learn to operate in a start-up environment and utilize information and communication technology in a smart way. Originality/value – The paper gives empirical evidence in a start-up context about combining leadership and creativity within the virtual work research.

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