Innovation, Entrepreneurship, and Success: Insights from Diverse Ventures

Download or read book Innovation, Entrepreneurship, and Success: Insights from Diverse Ventures written by Anna Ujwary-Gil and published by Cognitione Foundation for the Dissemination of Knowledge and Science. This book was released on 2023-09-22 with total page 263 pages. Available in PDF, EPUB and Kindle. Book excerpt: Expatriation-enhanced competencies: A multiple case study of technology-based entrepreneurs Abstract PURPOSE: Facing the research gap of entrepreneurial learning by self-expatriated technology-based entrepreneurs, the purpose of this research is to explore those entrepreneurs’ beliefs and experiences across expatriation to identify the enhancement of their competencies. METHODOLOGY: Within a qualitative and exploratory multiple case theory-building approach, data was collected from twelve technology entrepreneurs from Brazil, Mexico, Germany, and Israel that went to the following destination countries: Spain, United Kingdom, United States, Germany, Ireland, Turkey, and the Netherlands. With interview data as the primary source, the data analysis rests on a qualitative content analysis. FINDINGS: Data allows structuring techpreneurs’ experience of expatriation along the following steps: (a) arrival in the destination country and initial process of socialization, (b) engaging in activities to get familiar with the culture of the destination country, (c) the gradual comprehensive understanding of the new context, and (d) comparisons between the home and destination country. Expatriation had an evident impact on the technology-based entrepreneurs that materializes in three groups of competencies: entrepreneurial competencies, knowledge and innovative competencies, and international competencies. Entrepreneurial competencies relate to relational and behavioral skills and the learning of doing business in different contexts. Concerning knowledge and innovative competencies, creativity, learning new techniques and international innovation environment stand at the fore. Finally, international competencies relate to the acceptance of different cultures (multicultural learning and perception of cultural differences), developing a sense of an international community and an international innovation culture. IMPLICATIONS: This study evidenced the influence of expatriation experiences on the training of skills of technology-based entrepreneurs, in a specific approach to entrepreneurial, innovative, and intercultural competencies. The research portrays self-expatriation as an opportunity for technology-based entrepreneurs to develop different competencies being helpful to innovate, to manage business and to operate in international markets. Universities and innovators may recognize their discretion to develop programs for people like former students who want to self-expatriate. In the same vein, government can design policy to attract self-expatriate in innovations hubs, considering that local inhabitants can benefit from the cultural exchange. ORIGINALITY AND VALUE: This study contributes to better understanding the influence of self-expatriation experiences on the development of skills of technology-based entrepreneurs. Compared to previous studies, it advances research through providing a wider range of learning from expatriation experiences beyond the effect of internationalization on market knowledge and cultural aspects. Furthermore, this study focuses the process, not the results of self-expatriation to understand entrepreneurs’ learning. Keywords: technology-based entrepreneurs, innovation, entrepreneurs, skills, competencies, expatriation A phenomenological exploration of technology start-up failure in Sri Lanka PURPOSE: The main purpose of this qualitative study was to explore tech start-up failures in Sri Lanka to emerge themes that explain the critical factors that are impacting failures of Sri Lankan tech start-ups and also to identify recommendations that could help evade those factors. The paper also presents the finding to enrich tech entrepreneurs to build their strategies with an understanding of factors that leads to failure and to make well-educated decisions. METHODOLOGY: The study is based on a qualitative research approach that helps to present findings in a theoretical way. A phenomenological analysis has been used to identify, understand, and analyze the phenomena of tech start-up failures. Twelve start-up leaders participated in this study and shared their lived experiences of tech start-up failures in Sri Lanka. Interviews were conducted with them based on twelve interview questions and twelve core themes emerged based on the participants’ lived experiences. In analyzing data, the modified Van Kaam approach was used, utilizing a seven-step framework that considers the structural and textual aspects of experiences, as well as the perceptual characteristics of the phenomenon. FINDINGS: The themes answered the key research question of the study: What are the critical factors that are impacting on failures of tech start-ups in Sri Lanka? The cause of tech start-up failures according to the current study varied including, financial uncertainty, no market research, no product–market fit, paranoid behaviors of innovators, lack of timely response to changing conditions, and location of the venture. IMPLICATIONS: The paper concisely presents twelve critical reasons for tech start-up failures. The results of the research will enable Sri Lankan tech start-ups to identify key factors of failure for the growth of their surviving strategies. Identifying secret obstacles in the industry helps entrepreneurs prepare for pitfalls and provides guidelines for policymakers to make informed choices when implementing national policies. More importantly, it has been discovered that the major areas that require more attention are leadership, funding, marketing, and innovation. Finally, four groups of recommendations have been discussed under financing, market research, leadership, and inventors. ORIGINALITY AND VALUE: The comparison of the current study themes with the findings of related studies is inconclusive because the literature on tech start-up failures in other countries and in Sri Lanka is minimal. Some of the themes align with the findings of research conducted in other countries, although there were some themes that were explored uniquely. Keywords: entrepreneurship, tech entrepreneur, start-up failure, critical success factors, software start-up, survival strategies, technology start-up Going green to keep talent: Exploring the relationship between sustainable business practices and turnover intention PURPOSE: This study explores the association between sustainable business practices (SBP) and turnover intention (TI) to understand the role of sustainability initiatives in influencing employee retention and organizational commitment. METHODOLOGY: The present study conducted a systematic literature review (SLR) following the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) Statement. From an initial selection of 326 articles, a rigorous double-blind screening process identified 31 key papers for in-depth analysis. FINDINGS: The systematic review provides compelling evidence that SBP have a robust positive association with employee outcomes, especially in reducing TI. This relationship is notably mediated by job satisfaction and organizational commitment and moderated by psychological safety and ethical leadership elements. Further, key gaps were discerned, including the necessity to explore the varied impact of SBP across industries, the enduring effects of SBP on TI, the influence of cultural and contextual facets, and the urgency for methodological advancements in cross-cultural research. In response to these gaps, four hypotheses were conceptualized to provide deeper insights into the complex interplay between SBP, TI, and overarching cultural/contextual variables. IMPLICATIONS: Theoretically, this research adds to the existing literature by empirically validating the relationship between SBP and TI, highlighting critical mediators and moderators, and suggesting avenues for future research. Incorporating the identified gaps and proposed hypotheses provides a structured direction for subsequent investigations. The findings emphasize the importance of integrating SBP into organizational strategies to promote sustainability while enhancing workforce well-being and retention. Organizations can align with sustainability goals and boost employee satisfaction by focusing on organizational commitment, open communication, and leadership grounded in ethical and sustainable principles. ORIGINALITY AND VALUE: This research provides a comprehensive overview of the interplay between SBP and TI, integrating insights from various studies. By emphasizing understudied mediators and moderators, identifying research gaps, and outlining derived hypotheses, the study sets the stage for future inquiries. Its practical recommendations are essential for organizations that balance sustainability goals with workforce stability, benefiting organizational performance and employee satisfaction. Keywords: sustainable business practices, turnover intention, TI, job satisfaction, employee engagement, organizational commitment, employee involvement, employee empowerment, systematic literature review, PRISMA, future research directions, hypotheses, research gaps, green HRM What are the real motivations and experiences of silver entrepreneurs? Empirical evidence from Poland PURPOSE: Along with demographic changes, it is increasingly frequent that many mature people resign from their full-time jobs and decide to start their own businesses at a later age. Entrepreneurial activity among this group of so-called silver entrepreneurs can be caused by many motives, but these factors usually remain unknown to current employers or do not constitute a valid reason for understanding and keeping a mature person in the workplace. The purpose of this paper is to present new scientific results concerning entrepreneurial motivations, both internal and external, and the previous experiences of silver entrepreneurs from Eastern Europe based on an example from Poland. METHODOLOGY: We analyzed a unique sample of 1,003 owners of micro and small enterprises from Poland. The sample included only people over fifty. Our empirical study used a survey to explore the motivations and experiences of silver entrepreneurs that influenced their decision to start a business later in life. We linked attitude toward the behavior with motivation and utilized the “pull” and “push” factors. We utilized logistic regression to determine the factors related to starting a business above fifty. We also used the ordinary least square regression to determine the relationship between the explanatory variables and the age of starting a business by the respondents. FINDINGS: We found that the main “pull” factor positively influencing the start of business activity by silver entrepreneurs is the fulfillment of dreams as a broadly understood need for self-realization. However, the “push” factors (such as the occurrence of ageism in the workplace, as well as the loss of employment and lack of other opportunities on the labor market) significantly reduced the probability of starting a company at the age of over fifty. On the basis of the positive impact of a “pull” factor, it can be concluded that entrepreneurial activity at a later age is the result of opportunity-based entrepreneurship. Due to the negative impact of the job-loss factor, people made redundant started their business activity at an earlier age, before the age of fifty. Regarding external entrepreneurial motivations, the support received from family is the most important factor related to the individual’s environment affecting starting a business by silver entrepreneurs. However, the support from friends and the support from government bodies were not significant factors influencing starting a business at a later age.IMPLICATIONS: Findings from our study have implications for both employers and groups who support entrepreneurship. First, from the point of view of employers, the occurrence of ageism in the previous workplace could have resulted in resignation from full-time employment at an earlier age and a faster start of business activity. It is surprising that negative behavior towards older employees may also be associated with resignation from work by younger people. From the point of view of government bodies and other stakeholder groups related to the development of entrepreneurship, it is interesting that the support received from government bodies in conducting business activities was statistically insignificant for each group of respondents. This suggests the need to identify effective support and to design a comprehensive strategy for the development of silver entrepreneurship. ORIGINALITY AND VALUE: The vast majority of previous studies used secondary data or focused mainly on Western Europe, in particular the United Kingdom, Finland, and France. Our contribution is to provide empirical evidence about the silver entrepreneurs from Eastern Europe, especially Poland. Our research included individuals who actually run their own businesses, opposite to previous studies that take into account people who are just considering starting a business. This is particularly important in relation to research on the entrepreneurial intentions of mature people to undertake entrepreneurial activities at a later age, and the real motivations of silver entrepreneurs. Keywords: silver entrepreneurs, ageing, entrepreneurship, entrepreneurial motivations, push/pull factors Team members’ direct participation in decision-making processes and the quality of decisions PURPOSE: Do teams manage to reach better decisions than those made by individuals? Numerous studies have delivered inconclusive results. Meanwhile, participation in decision-making can take various forms and is not limited to consensus group decisions, and the influence of the various forms of participation on the quality of decisions has been less frequently examined. The aim of the research was to determine the effect on decision quality of changing the form of direct participation in the decision-making process in the case of complex, multi-stage problems. METHODOLOGY: The article presents the results of a long-term experiment in which 598 teams of 2,673 people took part. The participants were asked to solve a decision problem using three decision-making styles: autocratic, consultative, and group. The participants played the role of members of a newly established project team that must plan its own work. The task concerned a problem that requires the analysis of a number of dependencies between sub-problems, in contrast to eureka-type problems. The decision problem was new to the participants, making it impossible to apply known solutions; a creative approach was therefore required. The decision was then compared with the optimal solution established by experts. Decision quality was based on the deviation of the proposed solution from the optimal solution. FINDINGS: The results of the experiment confirm the significant synergistic potential of increasing direct participation in decision-making for complex, multi-stage problems. A significant proportion of teams made better decisions as a result of increasing direct participation – replacing autocratic decisions with consultative and group decisions. The quality of consultative decisions was roughly in the middle of autocratic and group decisions. By using group decision-making, teams made better decisions than the average individual decision and came closer to the decision quality achieved by the best team members. This effect was universal, observed both in the strongest and weakest teams. It should be remembered that, while group decision-making has the potential for synergy, it is not always achieved. Group decision-making markedly reduced the risk of making highly misguided decisions, and it can be reasoned that direct participation protects against serious mistakes more than it guarantees the best possible results. IMPLICATIONS: Team leaders should be familiar with different decision-making styles, their advantages and disadvantages, and the scope of their application. This research suggests that increasing team members’ participation to a consultative role and even better, a full participatory role, increases the quality of the decision. With the growing complexity of organizations that have to deal with accelerating change, technology development and increased competition, creating structures that can flexibly respond to the challenges of the environment requires the participation of team members at all managerial levels. The use of consultative and group decision-making styles for complex and multi-stage problems supports this process. The group decision-making style can bring better quality, but it has its limitations and it is not always possible to use it. It requires a team of highly competent people who identify themselves with the interests of the organization. Otherwise, the consultative form will bring better results. ORIGINALITY AND VALUE: For the first time, an empirical study analyses the case of consultative decision-making, in which the team leader consults the individual opinions independently to finally come up with a final “team” decision. This approach is widely used by team leaders and managers in the field. This study shows that this approach constitutes an improvement over the individual (autocratic) one but still falls short of the group decision-making approach. Finally, this study which has been done with the largest number of participant teams (598 teams, 2,673 individuals), professionally active post-graduate students and over a 24-year period allows a sound statistical confirmation of the proposed decision quality improvement when moving from individual to consultative and group decision-making styles. Keywords: participation in decision-making (PDM), decision quality, consultative decision-making, group decision-making Bankers' job stress, job performance, and job commitment trajectories during the COVID-19 pandemic PURPOSE: The global COVID-19 pandemic has profoundly impacted multiple sectors across industries and regions, including medical services, financial institutions, and others. The escalating global pandemic in both emerging and developed nations has resulted in the implementation of stringent lockdown measures and unparalleled disruptions to economic activities. Consequently, individuals have become accustomed to relying on banking operations as a routine aspect of their lives, regardless of the circumstances. Learning how bankers engage with customers in response to the given circumstances would be intriguing. Hence, the study aimed to unearth the relationship between bankers’ job stress, job performance, and job commitment, as well as the stress-based job performance and its impact on job commitment during the second to third wave of the COVID-19 pandemic in an emerging market. METHODOLOGY: A number of 287 data (response rate 71.75 percent) were collected by online platforms due to the COVID-19 pandemic through the simple random sampling technique. The exploratory factor analysis, confirmatory factor analysis, and structural equation modeling were run to test the proposed research framework with the help of MS Excel 2007, SPSS 22.0, and AMOS 23.0. FINDINGS: The findings showed that bankers’ work-related stress has a positive impact on job performance but no relationship with job commitment; acute stress has a negative impact on job commitment but no significant relationship with job performance; and stress-based job performance has a significant positive impact on job commitment during the COVID-19 pandemic. IMPLICATIONS: The outcomes of this study provide value to the field of behavioral science by introducing the phenomena of COVID-19 in the context of bankers and emerging economies. The demographic variables and the revealed relationships of bankers’ job stress, job performance, and job commitment trajectories would help policymakers rethink stress management practices and policy building in the bank job and the long-term relationship building with their existing employees. ORIGINALITY AND VALUE: The novelty of the research is the COVID-19 phenomenon and an emerging economy’s bankers’ context. Keywords: work-related stress, acute stress, job performance, job commitment, bankers, COVID-19 pandemic Entrepreneurship education for women through project-based flipped learning: The impact of innovativeness and risk-taking on course satisfaction PURPOSE: The primary aim of this research is to explore the correlation between learners’ characteristics and the perceived value and satisfaction associated with Project-Based Flipped Learning (PBFL) methodologies. A secondary objective involves investigating how these PBFL methodologies can be employed to enhance the quality of entrepreneurship education for women. METHODOLOGY: During the first semester of 2018, a total of 80 students enrolled in the Communication Society class were engaged in a longitudinal study, involving bi-weekly online surveys prior to the semester’s conclusion. The survey instruments utilized Likert-scale measurements, with a 5-point scoring system. The data acquired was subsequently analyzed using structural equation modeling, which facilitated the examination of both the pre- and post-change scores and the structural properties of their relationships with overall course satisfaction. In terms of statistical evaluation, the study employed Generalized Structured Component Analysis (GSCA), a powerful component-based SEM technique, thus ensuring a robust and academically rigorous interpretation of the data. FINDINGS: Our research sought to understand the effects of learners’ characteristics, specifically innovativeness and risk-taking, on course satisfaction in Project-Based Flipped Learning (PBFL). We found that female learners’ innovativeness positively influenced their perception of the project’s entertainment and educational value, which in turn increased preference for PBFL and course satisfaction. Interestingly, risk-taking did not significantly influence perceived project value, which provides insights into the role of personality traits in learning outcomes. IMPLICATIONS: Our study invigorates entrepreneurship education theory by highlighting the key role of learner innovativeness in PBFL course satisfaction, urging a nuanced examination of personality traits in educational contexts. Further, we question the established importance of risk-taking, necessitating a critical reassessment in this domain. These pivotal theoretical contributions challenge prevailing assumptions, enrich scholarly discourse, and open new avenues for research. On the practical side, our findings emphasize the imperative of fostering innovativeness in women’s entrepreneurship education. These insights underscore the need for a strategically tailored, creative learning environment, with the potential to enhance learner engagement and satisfaction significantly. In sum, our research generates transformative theoretical insights and provides actionable strategies for improving the practice of entrepreneurship education. ORIGINALITY AND VALUE: Our research presents a novel approach to fostering women entrepreneurs in the media sector through PBFL. This unique focus on the intersection of gender, media entrepreneurship, and PBFL distinguishes our study from existing literature. Furthermore, our findings offer educators invaluable guidance for enhancing female entrepreneurship education, thereby enriching the pedagogical landscape of this domain. Keywords: entrepreneurship education, women entrepreneurship, project-based flipped learning, innovativeness, risk-taking, course satisfaction