Crisis and arbitrage opportunities: The role of causation, effectuation and entrepreneurial learning

This article examines the process by which entrepreneurs identify and work with an arbitrage opportunity emerging from an episodic crisis. Although prior research has investigated the role of entrepreneurial characteristics and context on opportunity development, the specific manner in which these factors emerge in the course of opportunity development during a crisis remain underexplored. By adopting a qualitative approach grounded in case studies of eight entrepreneurs in the US distillery industry, this article addresses that gap by examining the process of arbitrage opportunity development during COVID-19. Our study reveals the primacy of both causation and effectuation-based entrepreneurial decision logics and the role of double-loop learning, as entrepreneurs interact with the time-compressed duration of the arbitrage opportunity. Implications and insights for entrepreneurs, researchers and policymakers are discussed.

How can biases affect entrepreneurial decision making? toward a behavioral approach to unicorns

How can cognitive biases affect the birth and evolution of entrepreneurial ventures? In Entrepreneurial Decision Making (EDM), this lively research question remains largely unaddressed when the world of Unicorns, as a per se entrepreneurial species, is considered. Thus, through this conceptual article, we aim to contribute toward knowledge creation in this context. We start by proposing a conceptual framework of Unicorns’ EDM based on a behavioral approach. Through three propositions, this novel framework advances how the birth, transition, and consolidation of a Unicorn may be explained by the sequentially intertwined occurrence of biases, from which establishment and legitimization eventually emerge. We complement the framework with examples from the social media industry and then discuss its main implications for theory and practice.

Conceptual Framework—Artificial Intelligence and Better Entrepreneurial Decision-Making: The Influence of Customer Preference, Industry Benchmark, and Employee Involvement in an Emerging Market

Purpose: Technology initiatives are now incorporated into a wide range of business domains. The objective of this paper is to explore the possible effects that Artificial intelligence systems have on entrepreneurs’ decision-making, through the mediation of customer preference and industry benchmark. Design/methodology/approach: This is a non-empirical review of the literature and the development of a conceptual model. Searches were conducted in key academic databases, such as Emerald Online Journals, Taylor and Francis Online Journals, JSTOR Online Journals, Elsevier Online Journals, IEEE Xplore, and Directory of Open Access Journals (DOAJ) for papers which focused on Artificial intelligence (AI), Entrepreneurial decision-making, Customer preference, Industry benchmarks, and Employee involvement. In total, 25 articles met the predefined criteria and were used. Findings: The study proposes that Artificial intelligence systems can facilitate better decision-making from the entrepreneurial perspective. In addition, the study demonstrates that employees, as stakeholders, can moderate the relationship between Artificial intelligence systems and better decision-making for entrepreneurs with their involvement. Moreover, the study demonstrates that customer preference and industry benchmark can mediate the relationship between Artificial intelligence systems and better entrepreneur decision-making. Research limitations/implications: The study assumes a perfect ICT environment for the smooth operation of Artificial intelligence systems. However, this might not always be the case. The study does not consider the personal disposition of entrepreneurs in terms of ICT usage and adoption. Practical implications: This study proposes that entrepreneurial decision-making is enriched in an environment of Artificial intelligence systems, which is complemented by customer preference, industry benchmark, and employee involvement. This finding provides entrepreneurs with a possible technological tool for better decision-making, highlighting the endless options offered by Artificial intelligence systems. Social Implications: The introduction of AI in the business decision-making process comes with many social issues in relation to the impact machines have on humans and society. This paper suggests how this new technology should be used without destroying society. Originality/value: This conceptual framework serves as a valuable organizational spectrum for entrepreneurial development. In addition, this study makes a valuable contribution to entrepreneurial development through Artificial intelligence systems.

STRATEGIC RESOURCES AND PROCESSES IN PROPERTY INDUSTRY: UNCOVERING NEW ANALYSIS APPROACH FOR BUSINESS DEVELOPMENT & ENTREPRENEURIAL DECISION

The “Strategic Resources and Processes in Property Industry: Uncovering New Analysis Approach For Business Development & Entrepreneurial Decision” discusses about the strategic resources and strategic process that works in the Property business industry. From the management resources and business processes that will determine the company's performance. What factors are affecting the company performance the most? What are the resources of the business? The research for the data using the quantitative analysis with a purposive sampling method and continues by confirmatory analysis from an industry expert. The result of the data shows that the ready to sell property is the most strategic resource in the property sales industry that boosts up the company’s performance. Additionally, advertising is one of the most effective way to succeed in the selling property.

Social Entrepreneurs as Role Models for Innovative Professional Career Developments

Through qualitative analysis, this paper examines the role of social entrepreneurs as an example of innovative and alternative professional career development. We review the dominant literature about social entrepreneurs’ distinct intentions, attitudes, abilities, and behaviors. We also directly connect social entrepreneurs’ biographies and discourses with the actual nature of their social enterprises. We have found some fundamental common factors as critical determinants of the final social entrepreneurial decision and result: (i) motivations such as emotional connection, moral judgment, personal dissatisfaction, purpose achievement and change, and social needs; (ii) personal internal resources such as connection skills, conviction, creativity, efficiency skills, and learning orientation; (iii) facilitating external factors such as financial and social support, higher and social education, relevant past events, and previous professional experience. Putting together all these factors, we develop a theoretical framework that can explain social entrepreneurship as an alternative career option and connect it with a dominant social entrepreneur’s narrative and profile.