Amir Zakaria Consulting Group | Entrepreneurship
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Entrepreneurship

Entrepreneurship

 

Entrepreneurship research highlights entrepreneurship as a simultaneous source of enhanced income mobility for some but a potential source of poverty for others. The empirical literature has noted that entrepreneurship in modern economies does not take the form of growing productive firms but rather of increasing rates of self-employment (Sanandaji and Leeson, 2013; Stam, 2013; Steinmetz and Wright, 1989). More recent studies have furthered these findings, confirming that entrepreneurial earnings are below those of comparable salaried workers on average but adding that the overall distribution of entrepreneurial earnings also comes with a substantially “fat” upward tail (Halvarsson et al, 2018).

Corporate entrepreneurship

Corporate entrepreneurship is a process of strategic renewal and development of an existing business through the creation of new products, services, and activities, as well as new competitive postures and independent ventures. The performance of this process, which leverages the creativity and the initiative spirit of employees and managers, is thus relying on the capacity of the organization to create favorable conditions for the emergence of such latent entrepreneurial potential (Elia et al, 2017).

Entrepreneurship VS sustainability

The role of innovation and institutional quality for achieving sustainability are important issues tackled by current sustainable development debates, particularly in developing countries. The relationship between entrepreneurship and sustainable development turns strongly positive in the presence of high levels of innovation and institutional quality (Youssef et al, 2017).

Entrepreneurship VS Engineering

Engineering education therefore faces new challenges and these include equipping engineers with greater entrepreneurship. Although entrepreneurship education has consequently been integrated into the new engineering degrees, is this enough to boost entrepreneurship among engineers and on what does their level of entrepreneurship depend? The results indicate that the need for independence is the key factor in the entrepreneurial intent of future engineers and confirm the positive contribution that entrepreneurship education has on their entrepreneurial intentions (Barba-Sánchez et al, 2017).

Entrepreneurship VS SMEs

Colette et al. (2005) point out that much of the entrepreneurial research to date has provided no empirical support for the affirmation that completion of formal entrepreneurial initiative and SME (Small and Medium Enterprises) management courses increases an individual’s probability of starting a business. Various authors such as Barringer, Jones, and Neubaum (2005), Fayolle, Gailly, and Lassas-Clerc (2006), Mueller (2011) or Packham, Jones, Miller, Pickernell, and Thomas (2010) have corroborated the positive contribution that entrepreneurship education can have on its participants in terms of skills, knowhow and better entrepreneurial attitude.

Social Entrepreneurship

Despite the predominant focus on ‘wealth creation’ as a perspective in entrepreneurship research (Welter et al., 2017), we are witnessing the rise of new streams of inquiries that examine the social value added role of entrepreneurship (Zahra and Wright, 2016; Williams and Shepherd, 2016) and the notion of entrepreneurship as potentially emancipating (Rindova et al., 2009). Social entrepreneurship has emerged as a fast-growing field of study and practice spanning the management, non-profit, sustainability, healthcare, and public policy domains (Chandra, 2017).

Entrepreneurial Marketing

Merging two formerly distinct disciplines, the term entrepreneurial marketing is used to describe the marketing processes of firms pursuing opportunities in uncertain market circumstances, often under constrained resource conditions (Yang et al, 2017). Morris et al. (2002:5) define the term “Entrepreneurial marketing” as “the proactive identification and exploitation of opportunities for acquiring and retaining profitable customers through innovative approaches to risk management, resource leveraging and value creation”. Entrepreneurial marketing is characterized as an organizational orientation having seven underlying dimensions, namely, proactiveness, opportunity focus, calculated risk taking, and innovativeness, customer intensity, resource leveraging, and value creation (Morris et al., 2002).

Entrepreneurial Marketing VS SMEs

Firms operating in an entrepreneurial context are not well served by the theories, processes and tools of “mainstream” marketing (Hills et al., 2008) and the SME’s approach to marketing may not fit established theories, successful SME’s are able to capitalize on their unique benefits of smallness (Jones and Rowley, 2011). Entrepreneurial marketing is defined as effectual action or adaptation of marketing theory to the particular needs of the small business (Becherer et al., 2006). According to Bjerke and Hultman (2002), entrepreneurial marketing is the marketing of small firms growing through entrepreneurship. As SMEs face some limitations such as having few major customers, limited resource in business and marketing; the influence of the entrepreneur, the lack of formal organizational structures or formal systems of communication (Jones and Rowley, 2011; Kolabi et al., 2011), entrepreneurial marketing becomes more appropriate to small and medium size enterprises (Hacioglu et al, 2012).

Reference:

  • BarbaSánchez, V., Atienza-Sahuquillo, (2017). “Entrepreneurial intention among engineering students: The role of entrepreneurship education”. European Research on Management and Business Economics
  • Barringer, B., Jones, F., Neubaum, D. (2005). “A quantitative content analysis of the characteristics of rapid-growth firms and their founders”. Journal of Business Venturing, 20, pp. 663-687.
  • Becherer, R.C., Haynes, P.J. and Fletcher L.P. (2006). “Paths to Profitability in Owner-Operated Firms: The Role of Entrepreneurial”. Journal of Business and Entrepreneurship, 18(1), pp.17-31.
  • Bjerke, B. and Hultman, C.M. (2002). “Entrepreneurial Marketing: The Growth of Small Firms in the New Economic Era”. Edward Elgar Publishing Limited, UK.
  • Chandra, Y. (2017). “Social entrepreneurship as emancipatory work”. Journal of Business Venturing, Volume 32, Issue 6, Pages 657-673.
  • Colette, H. Hill, F. Leitch, C. (2005).”Entrepreneurship education and training: Can entrepreneurship be taught?” Education + Training, 47 (3), pp. 158-169.
  • Elia, G., Margherita, A. (2017). “Assessing the maturity of crowd venturing for corporate entrepreneurship”. Business Horizons.
  • Fayolle, A., Gailly, B., Lassas-Clerc, N. (2006). “Assessing the impact of entrepreneurship education programmes: A new methodology”. Journal of European Industrial Training, 30 (9), pp. 701-720.
  • Hacioglu, G., S. Eren, S., Sule Eren, M., Celikkan, H. (2012). “The Effect of Entrepreneurial Marketing on Firms’ Innovative Performance in Turkish SMEs”. Procedia – Social and Behavioral Sciences 58 ( 2012 ) 871 – 878.
  • Halvarsson, D., Korpi, M., Wennberg, (2018). “Entrepreneurship and income inequality”. Journal of Economic Behavior & Organization, Volume 145, Pages 275-293.
  • Hills, G. E., Hultman, C. M. and Miles, M. P. (2008). “The Evolution and Development of Entrepreneurial Marketing”. Journal of Small Business Management, 46(1), 99 112.
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  • Mueller, S. (2011). “Increasing entrepreneurial intention: Effective entrepreneurship course characteristics”. International Journal of Entrepreneurship and Small Business, 13 (1), pp. 55-74.
  • Packham, G., Jones, P., Miller, C., Pickernell, D., Thomas, B. (2010). “Attitudes towards entrepreneurship education: A comparative analysis”. Education + Training, 52 (8–9), pp. 568-586.
  • Rindova, V., Barry, D., Ketchens, D.R. (2009). “Entrepreneuring as emancipation”. Acad. Manag. Rev., 34 (3, pp. 477-491.
  • Sanandaji, T., Leeson, T. (2013). “Billionaires”. Ind. Corp. Change, 22 (1), pp. 313-337.
  • Stam, E. (2013). “Knowledge and entrepreneurial employees: a country-level analysis”. Small Bus. Econ., 41 (4), pp. 887-898.
  • Steinmetz, G. Wright. E.O. (1989). “The fall and rise of the petty bourgeoisie: changing patterns of self-employment in the postwar United States”. Am. J. Sociol, pp. 973-1018.
  • Welter, F., Baker, T., Audretsch, D.B., Gartner. W.B. (2017). “Everyday entrepreneurship—a call for entrepreneurship research to embrace entrepreneurial diversity”. Entrep. Theory Pract., 41 (3), pp. 311-321.
  • Williams, T.A., Shepherd, D.A. (2016). “Victim entrepreneurs doing well by doing good: venture creation and well-being in the aftermath of a resource shock.” J. Bus. Ventur., 31 (4), pp. 365-387.
  • Yang, M., Gabrielsson, P. (2017). “Entrepreneurial marketing of international high-tech business-to-business new ventures: A decision-making process perspective”. Industrial Marketing Management, 0019-8501.
  • Youssef, A., Boubaker, S., Omri, A. (2017). “Entrepreneurship and sustainability: The need for innovative and institutional solutions”. Technological Forecasting and Social Change.
  • Zahra, S.A., Wright, M. (2016). “Understanding the social role of entrepreneurship”. J. Manag. Stud., 53 (4), pp. 610-629.

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