Entrepreneurship and Management of Innovation

This paper discusses an alternative conceptualisation of entrepreneurial marketing that can be understood as 'marketing with an entrepreneurial mindset'. By combining the definition of marketing of the American Marketing Association (AMA) and two conceptualisations of entrepreneurship (entrepreneurial orientation and entrepreneurial management), we arrive at a definition of entrepreneurial marketing as the organisational function of marketing by taking into account innovativeness, risk taking, pro-activeness and the pursuit of opportunities without regard for the resources currently controlled. This definition must not be restricted to young and small ventures, but can equally be applied to larger firms. We illustrate the concept of entrepreneurial marketing by highlighting guerrilla marketing, buzz marketing and viral marketing. and Researcher at WWU Münster, Germany. Moreover, he lectured on entrepreneurship and innovation management at the TU Berlin and the TU Dortmund. He studied economics, politics and sociology at the University of Münster, Germany, where he received his Doctorate in Business Administration with a thesis on entrepreneurial management. His current research interests revolve around a critical analysis of new venture development and organisational aspects of innovation management.

This paper discusses an alternative conceptualisation of entrepreneurial marketing that can be understood as 'marketing with an entrepreneurial mindset'. By combining the definition of marketing of the American Marketing Association (AMA) and two conceptualisations of entrepreneurship (entrepreneurial orientation and entrepreneurial management), we arrive at a definition of entrepreneurial marketing as the organisational function of marketing by taking into account innovativeness, risk taking, pro-activeness and the pursuit of opportunities without regard for the resources currently controlled. This definition must not be restricted to young and small ventures, but can equally be applied to larger firms. We illustrate the concept of entrepreneurial marketing by highlighting guerrilla marketing, buzz marketing and viral marketing. and Researcher at WWU Münster, Germany. Moreover, he lectured on entrepreneurship and innovation management at the TU Berlin and the TU Dortmund. He studied economics, politics and sociology at the University of Münster, Germany, where he received his Doctorate in Business Administration with a thesis on entrepreneurial management. His current research interests revolve around a critical analysis of new venture development and organisational aspects of innovation management.

This study profiles the characteristics, attributes and growth orientations of Lebanese entrepreneurs including the relationships, roles and contributions that family and culture play in the development of private SMEs. Drawing on a sample of 112 entrepreneurs' psychographic motives, demographic attributes and business activities are revealed. Family and enterprise relationships related to employment, investment and active family participation and growth orientations are empirically tested. The findings suggest that entrepreneurs are motivated by the need for independence and flexibility. Entrepreneurs were found to rely heavily on family member participation to establish, develop and grow their enterprises.

This qualitative study among 591 business students from four European countries investigated cross-country differences in the kind of barriers people perceive to business startup. In line with Institutional Theory, the most important perceived barriers in all countries related to regulative structures (lack of money) and cognitive conditions (lack of skills).

Higher Educational Institutions (HEIs) are facing challenges to attract and retain talented and competent workforce in a competitive technological, digital and industry 4.0 environments in India. HRD Culture is one of the important factors that influence the sustainable growth and success of these HEIs and a collective behavior of human resources towards the organizational norms, beliefs, values, and structure and HR practices. The present study has been undertaken to identify the important factors of HRD culture among the staff of select HEIs. Both primary and secondary data has been used in the study. The secondary data was collected through self developed questionnaire consisting of 16 items through survey method technique. The findings revealed that the four dimensions identified for the study i.e. Climate, HR practices, Commitment for Quality and Human Relations are fully measuring the HRD culture of these HEIs. The line managers chosen for population study of select HEIs are satisfied with HRD climate, HR practices, Commitment for Quality but partially satisfied with good Human Relations. The top management of these HEIs could use these work values and practices for distinctive and dynamic culture for the organizational effectiveness for optimum utilization of human resources. The study is limited to the select HEIs in India. The results of the study will add value in the field of HRD culture in the Institutions of higher Learning and enrich the knowledge of the policy makers to devise suitable strategies for improvement.

It has been proposed that a key success factor for entrepreneurial start-up companies in dynamic industries is their capacity to continuously adapt their business opportunistically. However, the concept of opportunistic adaptation is in need of further development and clarification in order to make it possible to empirically test its usefulness, something that this far has been done only to a limited extent. Opportunistic adaptation has primarily been regarded as an entrepreneurial strategy focusing on rapid learning and change in order to adapt to market changes. We argue that two important dimensions left out of this process are the roles played by the resources and capabilities of the firm, and the entrepreneurial vision guiding business development. As entrepreneurs develop new businesses they do not only react on what happens in the existing market but base their actions also on a vision of a desired future state. A tentative theoretical framework combining the dynamic capabilities approach of the resource-based strategy school and the cognitive dimension of the business, conceived as entrepreneurial vision, is developed. In order to explore how the entrepreneurial vision and the firm's capabilities and resources influence the business development process, we have performed case studies of the business model evolution in 26 start-up companies in the emerging Swedish mobile Internet industry. A number of observations from the studied companies are described and discussed in relation to the theoretical framework. Finally, some important issues derived from the theoretical elaboration and the empirical observations are brought forward. In particular, it is noted that the industry experience of the founding/management team, interaction with customers, and the dependence of external parties are factors that influence the possibilities for a start-up company to succeed in developing a new business.

Innovations seem crucial for contemporary enterprises willing to achieve the objective of increasing firm’s value. The aim of this paper is to examine, both conceptually and empirically, the relationship between innovations and tourism enterprises’ market value. Tourism sector was taken into consideration in order to fulfill the existing research gap. This focused paper was based on relevant market data. Event study and calendar time portfolio approaches were chosen to test investors’ responses to innovation announcements. Six tourism companies listed on the Main Market of Warsaw Stock Exchange were examined within the six years research period and 34 innovation announcements were identified. Polish Press Agency database and Warsaw Stock Exchange databases were used to collect data. Results indicate that innovations affected positively investors’ valuation of tourism enterprises. The average event day market value change equaled 0.63% and differed considerably from the one-year one of 3.02% meaning that investors adjust their initial reaction over time. Initially investors reacted mostly to marketing, distributional and external relations innovations while within one-year period they attributed the most value to marketing and external relations ones.

Based on a multiple case study research, the paper aims at providing some first evidence on the phenomenon of 'born global' companies (BGCs), i.e., companies that internationalise their activities from inception or shortly thereafter, founded by young entrepreneurs, by analysing those age-related factors that facilitate or hinder young entrepreneurs to start a BGC. An in-depth qualitative analysis has been performed based on eight BGCs founded by Italian young entrepreneurs. Results highlight that young entrepreneurs, being more financially constrained than old entrepreneurs, tend to move towards countries where those resources are more easily and widely available. Moreover, we found that young entrepreneurs seem to invest heavily on their social capital to countervail the young age effect. Finally, results suggest thatfor young entrepreneurs -prior experience abroad has amplified relevance in the internationalisation process of a company.

The entrepreneurial process in emerging economies is receiving more interests but the critical role of bricolage is still in dearth. Entrepreneurs in these highly uncertain and dynamic environments discover, develop, and exploit opportunities with limited and idiosyncratic resources. They also navigate the entrepreneurial process within restrictive and unsupportive institutional environments. In this dynamic and often restrictive setting, entrepreneurs wanting to capitalize on opportunities must be able to manage with novel combinations of existing resources. Bricolage is therefore a relevant process in this entrepreneurial environment. This article argues that bricolage is a key mechanism to explore and explain entrepreneurship in emerging economies.