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.

Circular start-up development: the case of positive impact entrepreneurship in Poland

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Boleslaw Rok ◽  
Monika Kulik
Keyword(s):  
Business Model ◽  
Business Models ◽  
Positive Impact ◽  
Data Gathering ◽  
Content Type ◽  
Start Up ◽  
Multiple Case ◽  
Start Ups ◽  
The Impact

Purpose The purpose of this paper is to explore how circular start-ups design and implement innovation into their business models to increase their positive impact. Design/methodology/approach This qualitative study is based on an exploratory multiple-case study involving six circular start-ups with positive impact in Poland. Data gathering took place via in-depth interviews with start-up founders. Findings The analysis demonstrates that three factors, which are strongly interconnected, can significantly influence the development of a circular start-up. The first is the purpose-led motivation for circularity as a solution, mostly concentrated on the environmental education of different market actors. The second factor is built on the aim to increase the positive impact by addressing the most pressing social and environmental problems. It determines the impact on society as well as on the environment and the extent to which its model can be scaled up. The third factor is driven by the understanding of the purpose of the innovation, concentrated on the business model innovation regarding circularity. Practical implications This paper demonstrates the benefits for diverse stakeholders and the importance of using circular business models in start-up development. Circularity can be perceived as a main part of the new approach to improve sustainability. Originality/value Circular start-ups represent a new phenomenon in the entrepreneurial market. While the structure and logic of the circular business model in start-ups are significantly unexplored in the management literature, this model is viewed as a crucial step in the direction of increasing the positive impact of start-ups. From a theoretical and practical perspective, it is important to understand the differences and similarities in this area within different markets.

Student entrepreneurship ecosystems at Australian higher education institutions

2022 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Alex Maritz ◽  
Quan Nguyen ◽  
Sergey Ivanov
Keyword(s):  
Higher Education ◽  
Higher Education Institutions ◽  
Entrepreneurship Education ◽  
University Student ◽  
Content Type ◽  
Student Entrepreneurship ◽  
Start Up ◽  
Entrepreneurship Ecosystems ◽  
Start Ups ◽  
The Impact

PurposeDespite the significance, university student start-ups and student entrepreneurship ecosystems (SEEs) have been subject to little research. This study aims to apply a qualitative emergent enquiry approach to explore best practice SEEs in Australia, complimented by narratives from leading scholars in higher education institutions with the aim of delineating the integrative components of SEEs.Design/methodology/approachAdopting the entrepreneurial ecosystem framework and aligned to the social cognitive theory, this paper explores the components and dynamics of SEEs, contributing to an understanding of how such components can better support the growth, sustainability and success of student start-ups. The authors extend entrepreneurship research on social construction using narrative research.FindingsThe findings provide guidelines for researchers, entrepreneurship scholars and educators, entrepreneurship students, policymakers and practitioners to enhance the impact and success of university student start-ups by adopting a student ecosystem approach.Research limitations/implicationsThe narratives represent a limited number of universities with an opportunity for further research to empirically measure the impact and outcomes of SEEs. The research is exploratory, inherently conceptual and emergent, providing an opportunity for validation of narrative frameworks in future studies.Practical implicationsThe findings may assist university managers to be more aware of their own subconscious preferences to student entrepreneurship and start-up initiatives, which may be useful in refining their impact and offerings regarding a quest toward the entrepreneurial university.Social implicationsFrom social perspectives, the alignment of the components of SEE has the ability to enhance and shift the entrepreneurial mindset of entrepreneurship students, notwithstanding enhancement of intentionality and self-efficacy.Originality/valueThis is the first study of SEEs in Australia, highlighting the importance of the integration of entrepreneurship education programs, entrepreneurship education ecosystems, the entrepreneurial university and specific start-up initiatives such as university accelerators. Furthermore, students may enhance their entrepreneurial mindset by actively engaging in such ecosystems.

Service Logic Business Model Canvas for Lean Development of SMEs and Start-Ups

2020 ◽  
pp. 436-463
Author(s):  
Jukka Ojasalo ◽  
Katri Ojasalo
Keyword(s):  
Business Model ◽  
Business Models ◽  
Business Community ◽  
Service Development ◽  
Model Framework ◽  
Business Plans ◽  
Business Model Canvas ◽  
Start Up ◽  
Service Logic ◽  
Start Ups

Business models have made a breakthrough both in the academic and in business community in the area business development. Old fashioned business plans are in many cases considered as a waste of time and resources. Particularly start-ups and SMEs have a great potential to take advantage of business model approach which allows lean and agile product and service development. However, the existing widely used business model frameworks are lacking the new service logic orientation. They mostly see the world in terms of goods logic. Since all sizes of businesses in all industries are increasingly adopting the service logic or service-dominant logic, there was a clear need to develop a new service logic based business model framework. Based on an extensive empirical study with both practitioners and academics, a new Service Logic Business Model Canvas was developed to fill this need. This chapter explains the theoretical foundations of this framework in SME and start-up context, as well as the framework itself and its application.

scholarly journals The Business Model of Start-Up—Structure and Consequences

2019 ◽  
Vol 9 (3) ◽  
pp. 69 ◽  
Author(s):  
Štefan Slávik
Keyword(s):  
Business Model ◽  
Business Performance ◽  
Distribution Channel ◽  
Field Research ◽  
Lessons Learned ◽  
Entrepreneurial Performance ◽  
Start Up ◽  
Three Stages ◽  
Start Ups ◽  
The Impact

A start-up already at its origin has to solve the crucial existential condition that is a viable business model. The purpose of the research is to deepen and expand the knowledge about the structure of the start-up business model and its impact on entrepreneurial performance. Field research was carried out in three stages over one and a half years. The source of knowledge about the studied start-ups has been the personal experience recorded in the questionnaire. Start-ups are small closed communities that do not sufficiently shape external partnerships, cannot reach the customers, although they can identify them well enough, try to improve the business model blocks but they do not pay attention to their coordination and perceive the monetization in a simplified way. The impact of the business model on start-up performance has been confirmed but the internal blocks affect business performance unambiguously over the three stages of the research. The best conversion of users to customers and subsequently to revenues are distinctive for the start-ups with their own simple distribution channel and partners who are experienced distributors. The lessons learned can directly improve the results of start-ups when their incompleteness and imperfection will be substituted by appropriate partners. Start-ups provide a space for the new jobs and the self-realization of ambitious people with a sense of service for society. Empirical research on start-ups identifies their weaknesses and possibilities to increase their entrepreneurial performance.

scholarly journals Hospitality branding in emerging economies: an Indian perspective

2019 ◽  
Vol 5 (1) ◽  
pp. 22-34 ◽  
Author(s):  
Shivam Rai ◽  
Jogendra Kumar Nayak
Keyword(s):  
Emerging Economies ◽  
Structural Equation ◽  
Affective Commitment ◽  
Perceived Quality ◽  
Equation Modeling ◽  
Brand Trust ◽  
Content Type ◽  
Branding Strategies ◽  
Brand Advocacy ◽  
The Impact

Purpose Travel and tourism is an imperative economic activity in most countries around the world. The industry has momentous indirect and induced impacts apart from its direct economic impact. The purpose of this paper is to test the applicability of brand interaction and perceived quality theory in the formation of brand trust, and the impact of affective commitment and brand trust toward advocacy intentions in the context of the Indian hospitality industry. This study also examines how emotional, and experiential hospitality brand relationship with the consumers can be developed in the emerging economies. Design/methodology/approach A total of 430 respondents participated in the study. Empirical evidence from depth interviews and data were garnered into a conceptual model. The proposed model was tested using structural equation modeling. Findings The findings reveal that perceived quality and brand interaction forms brand trust and trust is the key factor in establishing emotional (affective) commitment between the customer and the hospitality brand. The study also suggests that emotional commitment in customers help them in becoming brand advocates. The findings of the research will help hospitality brand strategists in developing successful branding strategies. Research limitations/implications This research examines the advantage of customers’ relationship and their meaningful brand connections in the hospitality context. The study establishes a relationship among antecedents of trust, trust and commitment which can lead toward brand advocacy. Originality/value The findings provide insight for hospitality brand managers in developing effective branding strategies for their organizations. This study inspects the advantages of cultivating meaningful brand connections and relationships with consumers in the Indian hospitality sector.

Work: covenant, social support and their impacts on multiple performance outcomes

2019 ◽  
Vol 28 (2) ◽  
pp. 417-433
Author(s):  
Benny Hutahayan
Keyword(s):  
Social Support ◽  
Current Knowledge ◽  
Supervisor Support ◽  
Performance Outcomes ◽  
Equation Modeling ◽  
Service Research ◽  
Coworker Support ◽  
Content Type ◽  
Work Social Support ◽  
The Impact

Purpose Applying social exchange and job demands resources theories, this study aims to proposes a research model in which work engagement (WE) mediates the influence of work social support on job satisfaction (JS), in-role performance (IRP) and creative performance (CP). Design/methodology/approach Data were collected from cabin attendants via three surveys two weeks apart and their pursers. The aforesaid relationships were assessed through structural equation modeling. Findings In general, there is support for the preponderance of hypotheses. Specifically, WE completely mediate the impact of coworker support on JS and IRP, whereas the impact of supervisor support on CP is completely mediated by WE. WE partly mediate the effect of coworker support on CP. Further, the effect of supervisor support on JS and IRP is partly mediated by WE. Originality/value The study extends and contributes to the current service research by assessing the impact of WE simultaneously on three performance outcomes. And it adds to current knowledge by investigating the mediating mechanism linking work social support to the attitudinal and behavioral outcomes. It also controls the threat of common method variance with at least two procedural remedies, which have been rarely used in the current service research.

Service Logic Business Model Canvas for Lean Development of SMEs and Start-Ups

2016 ◽  
pp. 217-243 ◽  
Author(s):  
Jukka Ojasalo ◽  
Katri Ojasalo
Keyword(s):  
Business Model ◽  
Business Models ◽  
Business Community ◽  
Service Development ◽  
Model Framework ◽  
Business Plans ◽  
Business Model Canvas ◽  
Start Up ◽  
Service Logic ◽  
Start Ups

Business models have made a breakthrough both in the academic and in business community in the area business development. Old fashioned business plans are in many cases considered as a waste of time and resources. Particularly start-ups and SMEs have a great potential to take advantage of business model approach which allows lean and agile product and service development. However, the existing widely used business model frameworks are lacking the new service logic orientation. They mostly see the world in terms of goods logic. Since all sizes of businesses in all industries are increasingly adopting the service logic or service-dominant logic, there was a clear need to develop a new service logic based business model framework. Based on an extensive empirical study with both practitioners and academics, a new Service Logic Business Model Canvas was developed to fill this need. This chapter explains the theoretical foundations of this framework in SME and start-up context, as well as the framework itself and its application.

The impact of entrepreneurship education on innovative start-up intention: the mediating role of entrepreneurial mind-sets

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Rami Hanandeh ◽  
Sakher M.A. Alnajdawi ◽  
Ammar Almansour ◽  
Hamzah Elrehail
Keyword(s):  
University Students ◽  
Educational Institution ◽  
Entrepreneurship Education ◽  
The Body ◽  
Equation Modeling ◽  
Content Type ◽  
Mediating Role ◽  
Start Up ◽  
The Impact

PurposeEntrepreneurship education at universities aims to create entrepreneurial thinking and spread the culture of entrepreneurial awareness, skills and attitudes to students to stimulate their entrepreneurship intentions as graduates. This study investigates the impact of entrepreneurship education on innovative start-up intention as well as the mediating role of entrepreneurial mind-sets of university students.Design/methodology/approachStructural equation modeling (SEM) was used for analysis with (n = 204) valid questionnaires collected from university students.FindingsThe main findings show that entrepreneurial mind-sets mediate the relationship between entrepreneurship education and innovative start-up intention.Originality/valueThis study contributes to the body of knowledge by its application in a higher educational institution and enriches the literature with new evidence that entrepreneurship education could enhance innovative start-up intention.

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.

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.

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