Journal articles on the topic 'New business ventures'
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Covin, Jeffrey G., Robert P. Garrett, Jyoti P. Gupta, Donald F. Kuratko, and Dean A. Shepherd. "The Interdependence of Planning and Learning among Internal Corporate Ventures." Entrepreneurship Theory and Practice 42, no. 4 (June 13, 2018): 537–70. http://dx.doi.org/10.1177/1042258718783430.
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The novelty of new business domains demands that internal corporate ventures (ICVs) exhibit an ability to learn over the course of the venture's development. Nonetheless, ICV learning proficiency may be differentially related to venture performance as a function how various aspects of business planning for the venture are initially approached and evolve. Results from the current research indicate that ICV learning proficiency is more positively related to venture performance when the ICV's initial value propositions are unclear and when the ICV's goals do not extensively evolve over the course of the venture's development.
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Zhang, Xiue, Qiao Meng, and Yuan Le. "How Do New Ventures Implementing Green Innovation Strategy Achieve Performance Growth?" Sustainability 14, no. 4 (February 17, 2022): 2299. http://dx.doi.org/10.3390/su14042299.
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Manufacturing new ventures aiming to realize green innovative development play an essential role in the process of realizing the green transformation of economy and society. However, there is limited research on green manufacturing new ventures, and scholars have different views on whether green innovation strategy can improve new venture performance. This paper attempts to fill this gap by proposing a comprehensive framework of the relationship among green innovation strategy, green knowledge sharing, business model innovation, and new venture performance, based on the natural resource-based view. Through the empirical analysis of 240 sample enterprises in China, the results show that green innovation strategy has a significant positive effect on new venture performance. Green knowledge sharing and business model innovation are the essential paths for new ventures to achieve performance growth. Additionally, green knowledge sharing and business model innovation play a chain mediating role between green innovation strategy and new venture performance. This study suggests directions for manufacturing new ventures implementing a green innovation strategy to enhance performance and establishes a theoretical basis for the green transformation development of China’s economy and society.
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Büchel, Bettina. "Managing New Business Ventures." European Management Journal 23, no. 3 (June 2005): 274–80. http://dx.doi.org/10.1016/j.emj.2005.04.005.
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Wei, Ya-long, Dan Long, Yao-kuang Li, and Xu-sheng Cheng. "Is business planning useful for the new venture emergence?" Chinese Management Studies 12, no. 4 (November 5, 2018): 847–70. http://dx.doi.org/10.1108/cms-10-2017-0315.
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Purpose The purpose of this paper is to build a research model to examine the effects of business planning on the new venture emergence, as well as to examine the moderating effects of innovativeness of products. Design/methodology/approach Four hypotheses are put forward and examined by hierarchical binary logistic regression. The data of this paper are based on the first two waves of data from Chinese Panel Study of Entrepreneurial Dynamics project. Findings Results show that engaging in business planning has a positive effect on the new venture emergence, and the timing of business planning does not affect the new venture emergence significantly. This study also finds that the innovativeness of products has a positive moderating effect on the relationship between the timing of business planning and the new venture emergence. Research limitations/implications This study has some limitations. The innovativeness of products is measured by a single indicator, which may not completely reflect the meaning of the attribute. Moreover, this study explores new ventures only in the nascent stage. Practical implications The study is useful for entrepreneurs to realize the importance of business planning. First, engaging in business planning in early start-up stage is a very valuable activity, because business planning can help new ventures reduce the loss caused by trial and error learning. Second, engaging in business planning is more likely to ensure high innovative products quickly be accepted by the market. Because in the process of new venture emergence, the legitimacy signal to stakeholders can be transmitted and new products can be promoted to get support and recognition from stakeholder through the business plan. Originality/value This paper focuses on the early stage of new venture life cycle and the contextual factors to explore the influence of business planning on the new venture emergence under the logic of legitimacy. This paper could enrich business planning research from the perspective of legitimacy theory by inspiring scholars to focus on the differences between new ventures and mature enterprises and to offer proposals of legitimation strategies suitable for new ventures. Meanwhile, this study contributes to the understanding of the contextual factors of business planning. And it discusses the impact of the attribute in business planning on the new venture emergence, which helps scholars to get a deep thought about the value of business planning in entrepreneurial process.
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Anwar, Muhammad, Atiq Ur Rehman, and Syed Zulfiqar Ali Shah. "Networking and new venture’s performance: mediating role of competitive advantage." International Journal of Emerging Markets 13, no. 5 (November 29, 2018): 998–1025. http://dx.doi.org/10.1108/ijoem-07-2017-0263.
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Purpose The purpose of this paper is to investigate the effect of different types of networking, namely, business networking, financial networking and political networking, on the performance of new ventures and the extent to which competitive advantage influences the process. Design/methodology/approach Data were collected through a structured questionnaire using sample size of 319 newly established ventures in Pakistan – an emerging economy. The hypotheses were tested with structural equation modeling by using AMOS 21. Findings Results of the study indicate that business networking, financial networking and political networking significantly and positively contribute to new ventures performance and competitive advantage. Results also show that competitive advantage is a strong mediator between financial networking and new venture performance, as well as between business networking and new venture performance, respectively. However, in case of relationship between political networking and new venture performance, competitive advantage plays only a partial mediating role. Practical implications The study suggests that the owners and managers of new ventures should devote considerable efforts to developing all the three types of networks; in particular these networks are important for newly established ventures operating in emerging markets to access resources and to enhance performance. Originality/value Extensive review of available literature indicates that this is the first paper to assess the impact of networking on new ventures’ performance with a mediating role of competitive advantage. This study contributes to the existing literature through empirical evidence.
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Lin, Ya-Hui, Chung-Jen Chen, and Bou-Wen Lin. "The influence of strategic control and operational control on new venture performance." Management Decision 55, no. 5 (June 19, 2017): 1042–64. http://dx.doi.org/10.1108/md-07-2015-0324.
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Purpose The purpose of this paper is to investigate the impacts of strategic control and operational control on new venture performance in the China context. Design/methodology/approach This study tests the hypotheses in a sample of 83 new ventures that have equity investment by established firms and are founded between 1993 and 2007 that issued initial public offerings while not more than eight years old. Findings The results of this study show that: strategic control has a significantly negative relationship with new venture performance; operational control has a significantly positive relationship with new venture performance; industry relatedness between the corporate investor and the new venture and the new venture’s political ties moderate the relationships between the two types of control and new venture performance. The results are robust to alternative measurements of new venture performance. Practical implications The management control that the corporate investor exercises over the new venture is a significant determinant of the new venture success. Managers have to distinguish between strategic control and operational control and understand their impacts on new ventures. Originality/value This study highlights the issue of management of corporate venturing capital relationships from the new venture’s perspective. In addition, this study separates strategic and operational control within management control and examines how they influence new venture performance.
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Perks, Helen, and Dominic Medway. "Examining the nature of resource-based processes in new venture development through a business-duality lens: A farming sector taxonomy." International Small Business Journal: Researching Entrepreneurship 30, no. 2 (January 19, 2012): 161–88. http://dx.doi.org/10.1177/0266242611433634.
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This article investigates the nature of resource-based processes in the development of new ventures, adopting a business duality lens. Business duality occurs where a new venture is developed alongside an established business. The research employs a multiple case study methodology situated in the farming sector. The details of resource assembly and deployment are examined and presented through four stages of the entrepreneurial process: initiation, experimentation, mature and late stage. The findings offer insight into the manner in which resource ties between the businesses relate to processes of resource assembly and deployment and in addition, inform a business duality-based taxonomy. This depicting three generic approaches to managing resource-based processes in the development of new ventures in the farming sector: holistic innovators, reactive innovators and cautious innovators. We conclude by considering the implications of our arguments for new venture activity in other business duality contexts.
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Bolívar–Ramos, María Teresa. "New ventures’ collaborative linkages and innovation performance: Exploring the role of distance." Journal of Management & Organization 25, no. 1 (April 3, 2017): 26–41. http://dx.doi.org/10.1017/jmo.2017.13.
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AbstractIn an era of globalization, new ventures have become especially active in collaborations with external partners worldwide to overcome the liability of newness and to obtain the resources required to innovate. In this context, this study conceptually analyzes how the geographical and institutional distances between a new venture and its international partners may influence the venture’s ability to benefit from broad external linkages for innovation purposes. It proposes that the interplay of these factors affects not only knowledge transfer, but also business relations. The study advances theory on international collaborative linkages and innovation, by providing a novel framework that explains how contextual factors associated with distance affect the relation between new ventures’ collaborations and their ability to develop innovations.
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McGrath, Helen, Thomas O’Toole, Lou Marino, and Catherine Sutton-Brady. "A relational lifecycle model of the emergence of network capability in new ventures." International Small Business Journal: Researching Entrepreneurship 36, no. 5 (December 4, 2017): 521–45. http://dx.doi.org/10.1177/0266242617738571.
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This article presents a relational lifecycle model of the emergence of network capability in new ventures. Network capability is defined as a strategic ability learned in interaction with business partners. We focus on the foundational phases and processes of the emergence of this dynamic capability. The lifecycle model comprises three phases that evolve over time in tandem with the level of network engagement. The qualitative study identifies five tipping points or critical changes that move new ventures between the lifecycle phases. Using a sample of new ventures in a longitudinal action research design, the article demonstrates how new ventures emerge in network capability through increasingly complex and multilayered engagement processes with business partners. The relational lifecycle model contributes to the literature on how network capability emerges over time through the dynamics of interaction between business partners as new venture networks evolve and change.
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Wu, Aiqi, Shengxiao Li, and Huafeng Wang. "New ventures, product innovation and business intermediaries." Chinese Management Studies 8, no. 2 (May 27, 2014): 241–57. http://dx.doi.org/10.1108/cms-03-2014-0054.
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Purpose – The purpose of this paper is to examine the impact of knowledge-intensive business services (KIBS) intermediary ties on new ventures’ product innovation. Product innovation is a critical strategy for new ventures’ survival and growth. However, as a result of smallness and newness, new ventures usually face considerable difficulties in product innovation and require support to help their innovation search and innovation activities. Design/methodology/approach – A questionnaire survey of 145 Chinese new ventures is used to test presented hypotheses empirically. Findings – This study finds that the intensity of KIBS intermediary ties has a positive influence on innovation, while the diversity of KIBS intermediary ties has no influence on new ventures’ product innovation. Moreover, the relationship between the intensity of KIBS intermediary ties and new ventures’ product innovation is moderated by the degree of their international venturing and ties with other firms. Originality/value – This study enriches understanding of the important roles of KIBS intermediary ties on new ventures’ product innovation.
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Zhang, Haili, and Michael Song. "Do power distance and market information foster or impede performance of Chinese new ventures?" Chinese Management Studies 13, no. 4 (November 4, 2019): 877–94. http://dx.doi.org/10.1108/cms-04-2018-0472.
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Purpose The purpose of this paper is to examine the moderating effects of market growth on the relationships between power distance and new venture performance and between market information utilization in new ventures and new venture performance in China. Design/methodology/approach This study uses content analyses and OLS regressions. Findings First, power distance and market information utilization have positive effects on Chinese new venture performance. Second, in a low market growth environment, increasing power distance increases Chinese new venture performance. Third, in a high market growth environment, increasing power distance decreases, not increases, Chinese new venture performance. Research limitations/implications This study contributes to the market orientation literature by examining the moderating effects of market growth on the market information utilization-performance relationship in China. This study also adds to the existing understanding of power distance and market information utilization in contingency theoretical perspective. Practical implications Chinese new ventures operating in a high-growth market should reduce power distance. However, when operating in the low market growth industry, Chinese new ventures should increase power distance. While all Chinese new ventures should use market information to make decisions, the roles of market information are more important for Chinese new ventures operating in high market growth industries than for those operating in low market growth industries. Originality/value This study examines the moderating effects of market growth on the positive relationship between power distance and Chinese new venture performance and the positive relationship between market information utilization on Chinese new venture performance in the same model.
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Fernhaber, Stephanie A., Patricia P. McDougall, and Benjamin M. Oviatt. "Exploring the Role of Industry Structure in New Venture Internationalization." Entrepreneurship Theory and Practice 31, no. 4 (July 2007): 517–42. http://dx.doi.org/10.1111/j.1540-6520.2007.00186.x.
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While we have gained considerable knowledge since the late 1980s regarding the phenomena of international new ventures, less is known about the influence of industry structure on these ventures. In the present paper, we draw on literature from industrial economics, international business and entrepreneurship to identify industry structure variables that fit within the theoretical framework of international new ventures. We then offer propositions as to how the identified industry structure variables individually and jointly influence the likelihood of new venture internationalization.
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Jiang, Han, Albert A. Cannella, and Jie Jiao. "Does Desperation Breed Deceiver? A Behavioral Model of New Venture Opportunism." Entrepreneurship Theory and Practice 42, no. 5 (August 8, 2018): 769–96. http://dx.doi.org/10.1177/1042258718795347.
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We develop a behavioral–decision model to highlight entrepreneurs’ decision making behind venture opportunism. We find that opportunism can present to entrepreneurs and their new ventures a risky yet beneficial choice to secure short–term gains at potential social costs. We posit that, motivated by loss aversion, entrepreneurs may accept the risk and engage in opportunism when their ventures confront economic losses. For instance, a high risk of venture failure may motivate entrepreneurs to act opportunistically in the hope that the failure can be averted. We further posit that such loss–averse decisions will be moderated by the entrepreneurs’ personal bonds to their new ventures. That is, the scale of entrepreneurs’ personal investment in their ventures will intensify their economic loss aversion posed by venture failure risk. In contrast, when entrepreneurs use their personal social capital to support their ventures, they will personally bear more of the down–side risks of opportunistic behavior and thus be less likely to act opportunistically to countervail a potential economic loss. Results based on the data collected from 244 NEEQ–listed new ventures in Beijing and Tianjin in China support our predictions.
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Baldegger, Urs, and Johanna Gast. "On the emergence of leadership in new ventures." International Journal of Entrepreneurial Behavior & Research 22, no. 6 (September 5, 2016): 933–57. http://dx.doi.org/10.1108/ijebr-11-2015-0242.
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Purpose The purpose of this paper is to explore the emergence and development of leadership within the context of new ventures. Design/methodology/approach A qualitative approach was conducted to analyze in-depth the circumstances under which leadership is emerging and evolving in new ventures. In doing so, 55 founder-CEOs from Austria, Liechtenstein and Switzerland were interviewed. Findings The findings suggest that during the development from new ventures to early growth ventures the founder-CEOs and their organizations experience three major transitions. First, the founder-CEOs’ leadership behavior tends to emerge and evolve alongside firm development from being more transformational in new ventures to more transactional in early growth ventures. Second, the decisive employee selection criteria change over time, and the initially important person-founder fit turns into a person-organization fit. Third, a transition from a rather external perspective of the founder-CEOs in the new venture stage to a more internally oriented perspective in the early stages of growth was observed. Research limitations/implications Although the findings advance research on leadership in new ventures, the limitations concerning potential recall biases and subjectivism have to be kept in mind. Practical implications In practice, the findings imply that the emergence and development of leadership in new ventures should be seen as a dynamic process. Originality/value This paper is one of the first to study in-depth the emergence and development of leadership in the context of new ventures.
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Luo, Xiaowei Rose, Ling Yang, and Xiaobin He. "Can One Stone Kill Two Birds? Political Relationship Building and Partner Acquisition in New Ventures." Entrepreneurship Theory and Practice 44, no. 4 (June 6, 2019): 817–41. http://dx.doi.org/10.1177/1042258719855965.
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We extend the resource dependence theory to argue for the opposing effects of political relationship building on new ventures’ abilities to obtain suppliers and buyers. By signaling endorsement and better access to resources, political connection enhances new ventures’ legitimacy and bargaining position. In supply chains featuring high contractual uncertainties, suppliers favor new ventures with higher certainty of payment but buyers can be deterred by new ventures more difficult to control. Hence, paradoxically, political relationship building can exert opposing effects on a new venture’s acquisition of suppliers and buyers. We found empirical support through a survey of 337 new ventures in China.
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Laudien, Sven M., and Birgit Daxböck. "Enhancing the understanding of international new ventures: a service-oriented perspective." Management Research Review 40, no. 5 (May 15, 2017): 494–516. http://dx.doi.org/10.1108/mrr-07-2015-0169.
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Purpose This paper aims to challenge the up to now mainly product-centered view on international new ventures by analyzing the influence of service orientation on new venture internationalization behavior. It especially focuses on the utilization of specific market entry modes as a result of a growing service orientation. Design/methodology/approach Newness and complexity of the topic call for a qualitative-empirical research approach. Therefore, the paper is based on an in-depth multiple-case study of six international new ventures operating in fashion and lifestyle industry. Findings This paper shows that service-oriented international new ventures make use of different market entry modes at the same time. Service-related capabilities allow them to especially use cooperative market entry modes to fuel lacking market knowledge and thus to overcome resource constraints in value creation processes. Originality/value The paper contributes to a more holistic understanding of international new ventures, as it provides empirical evidence for the importance of service-related aspects in new venture internationalization. Furthermore, the paper extends international new venture research by not only considering an early international market entry but also other aspects of internationalization such as the type of offerings or the preferred market entry modes.
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Fiet, James O., and Pankaj C. Patel. "Forgiving Business Models for New Ventures." Entrepreneurship Theory and Practice 32, no. 4 (July 2008): 749–61. http://dx.doi.org/10.1111/j.1540-6520.2008.00252.x.
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Gartner, William B., Terence R. Mitchell, and Karl H. Vesper. "A taxonomy of new business ventures." Journal of Business Venturing 4, no. 3 (May 1989): 169–86. http://dx.doi.org/10.1016/0883-9026(89)90019-0.
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Blazenko, George W., and Andrey D. Pavlov. "Investment Timing for New Business Ventures." Journal of Entrepreneurial Finance 14, no. 3 (December 1, 2010): 37–68. http://dx.doi.org/10.57229/2373-1761.1016.
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Fad, Bruce E., and Roy M. Summers. "Parametric estimating for new business ventures." Engineering Costs and Production Economics 14, no. 2 (July 1988): 165–76. http://dx.doi.org/10.1016/0167-188x(90)90120-7.
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Chen, Yasheng, and Johnny Jermias. "Linking Key Performance Indicators to New International Venture Survival." Journal of International Accounting Research 15, no. 3 (September 1, 2016): 31–48. http://dx.doi.org/10.2308/jiar-51604.
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ABSTRACT Based on the four major challenges firms face in the early stage of their life cycle, we identify and use financial and non-financial performance measures to predict the survivability of new international ventures. We use a sample of 3,729 new manufacturing ventures from the Chinese Foreign Invested Enterprises Database. The study sample consists of wholly owned ventures of multi-national corporations (MNCs) and joint ventures between pairs comprising foreign and local investors in China. The results are consistent with the study's hypotheses. Using the Cox (1972) survival model, we find that employee training, employee productivity, accounts receivable collection period, export intensity, and sales growth are positively related to new venture survival. This study contributes to the existing business venturing and accounting literature in three ways. First, it fills the gap in the existing literature on bankruptcy prediction by focusing on firms in the early stage of their life cycle. Second, it uses survivability as a measure of business success. Survivability is a more comprehensive measure of firm performance than traditional financial measures during the start-up stage because during this stage firms tend to carry large losses that make financial measures inappropriate. Finally, this study has the potential to help new venture managers improve a firm's chances of success by using customized performance measures that fit its unique situation. JEL Classifications: D21; G32; M41.
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Lundmark, Erik, Alex Coad, Julian S. Frankish, and David J. Storey. "The Liability of Volatility and How it Changes Over Time Among New Ventures." Entrepreneurship Theory and Practice 44, no. 5 (September 9, 2019): 933–63. http://dx.doi.org/10.1177/1042258719867564.
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This article theorizes how short-term revenue volatility affects new venture viability and how such volatility develops over time. Tracking the bank accounts of 6,578 new ventures over a 10-year period, we find that, even after controlling for a range of other factors, short-term revenue volatility is a strong predictor of venture exit. Although short-term revenue volatility is associated with the depletion of buffer resources and financial default, surviving ventures do not, on average, decrease their short-term revenue volatility over time. However, short-term revenue volatility decreases at the cohort level due to higher exit rates of volatile ventures.
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Revuelto Taboada, Lorenzo, and Virginia Simón Moya. "Influence of human and physical capital on the survival of new ventures." Revista Perspectiva Empresarial 2, no. 1 (December 19, 2014): 45. http://dx.doi.org/10.16967/rpe.45.
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The purpose of this study is to analyze the influence of physical and human capital on the survival of new ventures in different economic contexts. We conduct an empirical study by using a logit model to analyze new ventures’ probabilities of survival. The results show that both human and physical capital influence the survival of ventures in the short and long term, with human capital playing a particularly important role. The implications of the study hinge on two key findings. First, the government’s potential to promote more efficient forms of entrepreneurship is a prominent factor. Second, the motivations —necessity or opportunity—of the entrepreneurs embarking on business ventures, and the importance of certain types of capital also determine the venture’s prospects for survival.
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Revuelto Taboada, Lorenzo, and Virginia Simón Moya. "Influence of human and physical capital on the survival of new ventures." Revista Perspectiva Empresarial 2, no. 1 (December 19, 2014): 45. http://dx.doi.org/10.16967/rpe.v2n1a3.
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The purpose of this study is to analyze the influence of physical and human capital on the survival of new ventures in different economic contexts. We conduct an empirical study by using a logit model to analyze new ventures’ probabilities of survival. The results show that both human and physical capital influence the survival of ventures in the short and long term, with human capital playing a particularly important role. The implications of the study hinge on two key findings. First, the government’s potential to promote more efficient forms of entrepreneurship is a prominent factor. Second, the motivations —necessity or opportunity—of the entrepreneurs embarking on business ventures, and the importance of certain types of capital also determine the venture’s prospects for survival.
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Jiang, Chuandi, Jeffrey Muldoon, and Hadi Alhorr. "Learning from rivals: the memory-inconsistent strategy." Journal of Small Business and Enterprise Development 28, no. 5 (May 27, 2021): 775–87. http://dx.doi.org/10.1108/jsbed-04-2020-0119.
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PurposeThe purpose of this paper is to examine the role of competitive memory that assists the new ventures to overcome challenges due to the liability of newness in the strategic adaptation stage.Design/methodology/approachThis is a conceptual paper. Through a critical literature review on new venture survival and organizational memory, the authors identified the possibility for new ventures to learn from other firms from organizational learning and resource-based perspectives.FindingsThe authors found that new ventures can acquire and analyze the existing rivals' strategic moves documented in multiple sources, such as published yearbook, financial report, media, etc., and develop their own strategies. New ventures can also benefit from the relatively high degree of organizational inertia of existing rivals.Practical implicationsNew venture survival and performance are substantially affected by the initial organizational learning and strategic decision-making. Applying the memory-inconsistent strategy (MIS), new ventures that lack competitive experiences can learn from their rivals by internalizing the rivals' competitive memory as strategic resources and utilizing such resources to develop a competitive strategy.Originality/valueNew venture research in competitive markets focuses on the challenges and difficulties due to the lack of experiences, neglecting the fact that new ventures can learn from competitive memories of existing rivals. However, the lack of competitive experiences also means a lower degree of organizational inertia and other strategic commitments. The authors introduce the MIS and suggest that new ventures can benefit from strategic flexibility and create a temporary competitive advantage by surprising existing firms.
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Tran, Hien Thi, Dat Quoc Nguyen, and Hoan Dong Hoang. "Succeed or fail? A case study of new ventures in Hanoi, Vietnam." Journal of International Economics and Management 21, no. 3 (December 27, 2021): 47–72. http://dx.doi.org/10.38203/jiem.021.3.0035.
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This paper explores factors of success/failure of new ventures in a startup hub city in an emerging country. The study uses the data from 27 personal interviews with local entrepreneurs in Hanoi, Vietnam. The business model, financial capital, human resources (i.e., human capital, social capital, psychological capital, cultural capital), technology, and the entrepreneurial orientation (i.e., innovative, problem-solving, risk-taking, and proactive) emerge as the factors of success/failure of an entrepreneurial venture. Interestingly, technology is important but not as critical to the business model for the success of new ventures; and proactiveness but not autonomy is also a crucial success factor. The role of cultural capital is also an important input to the model. From the findings a conceptual model of success/failure factors of entrepreneurial ventures is developed and the implications are discussed.
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Logan, Julie. "An exploration of the challenges facing women starting business at fifty." International Journal of Gender and Entrepreneurship 6, no. 1 (March 4, 2014): 83–96. http://dx.doi.org/10.1108/ijge-03-2013-0019.
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Purpose – The paper aims to investigate the motivations, goals, challenges, successes and needs of older women starting new ventures. Design/methodology/approach – In-depth semi-structured interviews were conducted with ten successful female entrepreneurs who had created their businesses at age 50 or over. The key areas of focus included the women's motivation for starting a business, their previous work experience, potential barriers/enabling factors (including their human, social and financial capital), and the performance of their ventures. Responses were taped, transcribed, coded, grouped and analyzed. Findings – The primary trigger for older women to start a new venture appears to be the need to find a creative outlet (self-actualization). Further, more than half the women stated that because they now had significantly reduced family responsibilities, this was the time for them to pursue their own goals. Interestingly, a majority of the women had started new ventures in an area completely unrelated to their previous work experience. Family support, particularly from their spouse/partner, was acknowledged by virtually all the women as an important factor contributing to the success of their ventures. All the ventures were profitable and growing. Research limitations/implications – The findings suggest that well-trained mentors could make a significant difference to this older cohort of female entrepreneurs, particularly in terms of helping them to grow their businesses. Originality/value – This study fills a gap in the literature by providing an understanding of the motivations and needs of older female entrepreneurs.
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Whittaker, D. Hugh, Benjamin Fath, and Antje Fiedler. "Open to competition? Competitive density and the growth of young New Zealand ventures." Australian Journal of Management 45, no. 2 (November 6, 2019): 343–58. http://dx.doi.org/10.1177/0312896219883914.
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Drawing on 180 survey responses from young, New Zealand-based ventures, we investigate effects of the number of perceived serious competitors on venture growth. We find empirical evidence for an inverse U-shaped relationship between competitive density and young venture growth. We further find that persistent innovation – requiring both initial innovative intent and a recent record of innovation – not only promotes young growth but also moderates the relationship between competitive density and young venture growth. Overall, the study shows that the growth of young ventures committed to persistent innovation is less affected by competitive dynamics compared to non-innovators. JEL Classification: L10, L22, L26, O30
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HOELSCHER, MARK, and BALASUBRAMANIAN ELANGO. "THE IMPACT OF BUSINESS CLIMATE, FOREIGN POPULATION AND UNEMPLOYMENT ON NEW VENTURE CREATION." Journal of Developmental Entrepreneurship 17, no. 04 (December 2012): 1250021. http://dx.doi.org/10.1142/s1084946712500215.
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This paper seeks to add to the literature on regional factors that drive development of new ventures. In particular, it investigates the effects of business climate, foreign population and unemployment on new venture creation. Using state level data from the time period 2003–2007, we find that while business climate and foreign population are positively related to new venture creation, unemployment is negatively related. Implications of this study for fostering entrepreneurship are discussed.
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Cadle, S. W., and J. H. van Rooyen. "The importance of knowledge and skills transfer in the private equity, venture capital and angel investing process." Corporate Ownership and Control 8, no. 3 (2011): 518–34. http://dx.doi.org/10.22495/cocv8i3c5p3.
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New business development is one of the most important contributors to economic growth, job creation and economic prosperity of any country. The successful creation of new ventures is a difficult process with many risks involved. The reward of a successful venture is such that many investors are prepared to accept a certain level of risk in the hope of achieving high returns on their capital invested. Many different aspects contributing to the success of a new venture and specifically the importance of the transfer of knowledge and skills in the investment process, was researched. Venture capital investment in the broader sense, including angel investing, venture capital and private equity investment, are important contributors to economic growth and prosperity. Venture capital and Angel investing are seen to be risky ways to invest. However, the risk may be reduced through the active involvement investment process thereby transferring knowledge. The investor is not only a provider of funds but also the provider of knowledge and skills to assist the venture to become successful. The literature review included the results from research recently conducted in the United States of America and Europe. This research highlighted factors, other than merely having a good business idea, that influence the success of a new venture. The global research clearly indicates that the active involvement of the angel investors, venture capitalists and private equity investors in new ventures, through the transfer of knowledge and skills, determines the success of the investment in new business development. The survey that was done in the SA venture capital environment support this outcome although the SA venture capital market sector is in the early stages of development and focuses on private equity investment and not so much new business development. The SA venture capital market discounts their risk through tangible securities taken in the investment process. Investments made are large amounts in well-established ventures with complete management teams where the investor’s involvement is restricted to control and ensuring that the venture complies too the expectation of the providers of the funds. The SA market concentrates much more on control and monitoring as their counterpart in the USA. The main objective of the study, to determine the impact of the transfer of knowledge and skills by the investor to the investee, is supported by the research done in the USA. The effect of the transfer of knowledge and skills is further supported by the effect on the long term return. The transfer of knowledge and skills and active participation increases the expected IRR. The findings are also supported by the literature research done indicating important elements needed to enhance the venture’s chances of success.
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Turcan, Romeo V., and Anita Juho. "Have we made it? Investigating value-creating strategies in early internationalizing ventures." Competitiveness Review 26, no. 5 (October 17, 2016): 517–36. http://dx.doi.org/10.1108/cr-03-2015-0020.
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Purpose The extant research on early internationalizing ventures focuses primarily on these ventures’ start-up phase or their initial internationalization. Scarce attention is paid to how these ventures grow, if at all, beyond their start-up phase or initial internationalization phase. This paper aims to explore how international new ventures transition from the internationalizing phase to the phase of being international, and whether they actually made it to that phase. Understanding whether and how these ventures reach their “made-it” point would contribute to our understanding of how early internationalization affects a venture’s survival and growth. In this, the authors draw on the dynamic capability theory of the firm. Design/methodology/approach Given the scarcity of theoretical understanding and empirical evidence in this substantive area of research, the authors adopted a multiple case study methodology for the purpose of theory building. Following an intensity sampling strategy, they purposefully selected information-rich, but not extreme two-case companies. The authors initially collected unobtrusive data in the form of running records and mass-media news reports from the inception of the case companies. They then conducted in-depth interviews with key decision makers of the case companies, namely, their co-founders and CEOs. Critical incident technique guidelines for data analysis were employed. Findings Grounded in data, the following constructs emerged related to value creation: strategic experimentation, gestalt tensions and legitimacy lies. Entrepreneurs experiment with and reconfigure their venture at several levels: goal (vision), decision (strategic) and behavioral (tactical) levels of the organizational gestalt to reach a threshold level of practiced activity. Entrepreneurs’ strategic experimentation efforts are fueled by tensions that exist at these three levels of the organizational gestalt. During this experimentation process, entrepreneurs may tell legitimacy lies to legitimate their ventures in the eyes of their stakeholders. Research limitations/implications Given the instrument the authors used to explore the issues and concerns identified above, the results are limited in scope. However, a number of questions and conjectures are put forward to guide future research in this currently under-researched area of international entrepreneurship. The authors have also suggested using the concept of turning point in future research to advance the understanding of the dynamic capability view of international new ventures. Practical implications Understanding whether and how international new ventures reach their made-it points would contribute to the understanding of how early internationalization affects international new ventures’ organizational survival and growth. Originality/value The authors have put forward the concept of the made-it point to aid international entrepreneurship researchers to investigate the continued growth, evolutionary patterns and the organizational survival of international new ventures.
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Bock, Carolin, and Christian Hackober. "Unicorns—what drives multibillion-dollar valuations?" Business Research 13, no. 3 (July 29, 2020): 949–84. http://dx.doi.org/10.1007/s40685-020-00120-2.
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AbstractThe number of ventures with a market value of one billion USD or more has considerably increased during the last decade. Driven by new technologies and business models, these ventures became an integral part of our daily life. Particularly, the number of unicorns based in China and other regions outside the US raised during recent years whereas the phenomenon was initially limited to the US region. Existing research has mainly focused on descriptive approaches to examine the rise of these ventures but lacks knowledge on the drivers of this phenomenon. We address these research gaps and investigate the underlying factors that foster the emergence of such high-valued ventures. Our results present several economic environmental as well as investor-related factors that impact the likelihood for a venture to achieve a market valuation of more than one billion USD. Subsequently, we derive theoretical and practical implications that may foster the future emergence of new high-valued ventures, covering regulatory, investor- and venture-specific aspects.
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Mai, Yiyuan, Chan Xiong, and Xiaobin He. "The effects of entrepreneurs’ socioeconomic status and political characteristics on new ventures’ establishment of formal political ties in China." Chinese Management Studies 9, no. 2 (June 1, 2015): 130–49. http://dx.doi.org/10.1108/cms-05-2013-0078.
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Purpose – This study aims to examine, by drawing upon resource dependence theory and upper echelon theory, how entrepreneurs’ socioeconomic statuses and political characteristics influence the establishment of formal political ties by new ventures, and how these relationships are moderated by new ventures’ degrees of innovation and internationalization. Design/methodology/approach – An empirical research approach is used in this paper. This is because this model evaluates the interaction effects between the socioeconomic statuses and political characteristics of entrepreneurs and the market strategies of their new ventures. Moderated multiple regression models were used to test our hypotheses with data from 2,297 new ventures in China. Findings – Using a questionnaire survey about new ventures in China, it was found that entrepreneurs’ socioeconomic statuses and political characteristics are positively related to the establishment of formal political ties by new ventures. It was also found that this positive relationship is stronger when new ventures have a higher degree of internationalization, while the relationship between the socioeconomic statuses of entrepreneurs’ and the establishment of formal political ties by new ventures is weaker when new ventures have a higher degree of innovation. Research limitations/implications – This research provides a deeper insight into the personal roles that are played in the establishment of formal political ties and it advances the research into new ventures’ competitive strategies. Practical implications – This study reveals the situations in which formal political ties are connected with new-venture advantages in China, and it will help entrepreneurs establish and use formal political ties strategically to correspond with the different strategies of new ventures. Originality/value – This research distinguishes the effects of two types of personal status on the establishment of formal political ties by new ventures, and it contributes to an understanding of the situations under which entrepreneurs should establish formal political ties. The findings will also be helpful for entrepreneurs who are choosing how to combine their market and non-market strategies.
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Jayawarna, Dilani, Oswald Jones, Wing Lam, and Sabrina Phua. "The performance of entrepreneurial ventures." Journal of Small Business and Enterprise Development 21, no. 4 (November 11, 2014): 565–87. http://dx.doi.org/10.1108/jsbed-05-2014-0090.
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Purpose – Despite the importance of marketing to the success of entrepreneurial ventures very few researchers have studied the links with new business performance. The purpose of this paper is to examine a number of marketing practices in relation to the performance of new firms. Furthermore, the study considers the moderating influence of market competitiveness on the marketing practice-performance relationship. Design/methodology/approach – Both postal and web surveys were utilized to collect responses from 128 entrepreneurs in the early stages of business creation. The data were subjected to exploratory and confirmatory factory analyses to establish the marketing practices in new ventures. These results were then subjected to hierarchical regression analysis to study the marketing-performance relationship. Further analysis was conducted to explore the moderation hypotheses. Findings – The results demonstrate that some practices generally associated with marketing – selective distribution, market segmentation and advertising – have limited impact on performance in new ventures. In contrast, other practices such as product/service innovation, market research and service quality and functionality – do help establish competitive advantage. The results suggest that marketing practices associated with “entrepreneurial behaviour” and not “hard” marketing techniques drive new venture success. The results also support the moderation hypotheses confirming that market conditions help explain the role of marketing in new venture success. Research limitations/implications – The paper offers a new theoretical framework to better understand the marketing-performance relationship in new ventures and offers suggestions as to the specific conditions for effective use of various marketing practices. Originality/value – This is one of the first attempts to explore the underlying mechanisms that support marketing practices in new ventures. It reveals the hidden dimensions of the marketing-performance relationship and thereby makes a contribution to both the marketing and entrepreneurship literatures.
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Beamish, Paul W. "The Characteristics of Joint Ventures in the People's Republic of China." Journal of International Marketing 1, no. 2 (June 1993): 29–48. http://dx.doi.org/10.1177/1069031x9300100203.
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This paper compares the characteristics of international equity joint ventures in the People's Republic of China (PRC) with joint ventures in developing country market economies. The characteristics of Sino-foreign joint ventures were derived from twelve studies published since 1986, including the author's new sample. Twelve joint venture characteristics are reviewed along dimensions of design, management and performance. Joint ventures in PRC are frequently used, created due to government pressure and with government partners, and often formed with partners from ethnically related countries. Further, many intended joint ventures are never implemented, and those that are implemented have often been set up for a predetermined duration. The foreign partner most commonly has a minority equity position, and those who have used split control have seen stronger performance. Overall joint venture stability has been high, but is expected to decline, and foreign partner satisfaction with performance is low.
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Schlossberger, Eugene. "A New Model of Business: Dual-Investor Theory." Business Ethics Quarterly 4, no. 4 (October 1994): 459–74. http://dx.doi.org/10.2307/3857344.
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Abstract:The paper suggests replacing the shareholder/stakeholder distinction with a “Dual-Investor” model of business: stockowners provide the specific capital for business ventures, while society provides the “opportunity capital.” Thus society is an investor in every business venture. Dual-Investor theory provides a response (based purely on the ethics of investment) to Milton Friedman’s arguments that executives should maximize profit by any legal means, avoids recent criticisms by Kenneth Goodpaster and Thomas McMahon, and suggests that the dichotomy between private and public ownership overlooks several important alternatives. Some consequences of the theory are detailed and a sketch of a theory of property, based on Dual-Investor theory, is appended.
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RIQUELME, HERNAN. "VENTURE CAPITALISTS’ COLLECTIVE BELIEFS ON NEW BUSINESS VENTURE INVESTMENTS." Journal of Enterprising Culture 02, no. 02 (July 1994): 629–67. http://dx.doi.org/10.1142/s0218495894000197.
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A multi-method approach (investment case analysis, administrative records, published interviews, questionnaire, and personal interviews) was conducted in order to deal with the widest possible range of aspects connected with venture capitalists’ investments in new businesses. Our study identified 73 decision rules or heuristics associated with such investments and we examined the extent to which these rules were shared by the UK venture capital community. We proposed to find out the reasons for business problems/failures and whether venture capitalists’ attribution of blame is biased. We explained what social functions this attribution serves and what consequences it entails for the venture capitalist, the entrepreneur, and the providers of funds to venture capital firms. Our decision rules demonstrate that not only evaluation criteria are important to understanding success of new ventures but also other heuristics associated with the deal structure, and two basic social processes, namely, hands-on management and networks. This very much reflects the widespread belief among venture capitalists that “it is not just a matter of picking up the winners”. This research has made explicit the venture capitalists’ “theory”of new business failures and illustrates their attribution bias towards the managerial team. This attribution of blame has serious consequences for the managerial team and the venture capitalists themselves as they will try to alter the managerial team rather than any other situational factor, e.g. market, product.
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La Rocca, Antonella, David Ford, and Ivan Snehota. "Initial relationship development in new business ventures." Industrial Marketing Management 42, no. 7 (October 2013): 1025–32. http://dx.doi.org/10.1016/j.indmarman.2013.07.001.
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Lages, Luis Filipe, Carmen Lages, and Cristiana Raquel Lages. "Bringing Export Performance Metrics into Annual Reports: The APEV Scale and the PERFEX Scorecard." Journal of International Marketing 13, no. 3 (September 2005): 79–104. http://dx.doi.org/10.1509/jimk.13.3.79.
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Annual company reports rarely distinguish between domestic and export market performance and even more rarely provide information about annual indicators of a specific export venture's performance. In this study, the authors develop and test a new measure for assessing the annual performance of an export venture (the APEV scale). The new measure comprises five dimensions: (1) annual export venture financial performance, (2) annual export venture strategic performance, (3) annual export venture achievement, (4) contribution of the export venture to annual exporting operations, and (5) satisfaction with annual export venture overall performance. The authors use the APEV scale to generate a scorecard of performance in exporting (the PERFEX scorecard) to assess export performance at the corporate level while comparatively evaluating all export ventures of the firm. Both the scale and the scorecard could help disclose export venture performance and could be useful instruments for annual planning, management, monitoring, and improvement of exporting programs.
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Cerrato, Daniele, and Stephanie A. Fernhaber. "Depth versus breadth: Exploring variation and performance differences among internationalising new ventures." International Small Business Journal: Researching Entrepreneurship 36, no. 7 (November 2018): 758–79. http://dx.doi.org/10.1177/0266242618783309.
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Despite the wealth of studies on international entrepreneurship that have emerged over recent years, a need exists to further explore variation among internationalising new ventures. In this article, we develop and test a framework suggesting that a new venture’s depth and breadth of internationalisation can be traded off in multiple ways to minimise risk. Through a cluster analysis, we identify four configurations commonly exhibited by internationalising new ventures, which we classify as follows: (1) home regional dabblers, (2) home regional committed, (3) host regional focused and (4) global balanced. Implications for firm-level drivers and performance are discussed.
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Welsch, Harold, Gerald Hills, and Frank Hoy. "Family Impacts on Emerging Ventures in Poland." Family Business Review 8, no. 4 (December 1995): 293–300. http://dx.doi.org/10.1111/j.1741-6248.1995.00293.x.
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This study reports the results of a survey of eighty owners of new ventures in Poland. The purpose of the survey was to assess the problems faced by small business owners and prospective small business owners in this emerging democracy. The sample was almost evenly split between family businesses and nonfamily businesses, which allowed for comparisons between family business issues in Poland and in the United States and between family and nonfamily business in Poland.
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Messersmith, Jake G., Pankaj C. Patel, and Christopher Crawford. "Bang for the buck: Understanding employee benefit allocations and new venture survival." International Small Business Journal: Researching Entrepreneurship 36, no. 1 (October 6, 2017): 104–25. http://dx.doi.org/10.1177/0266242617717595.
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Providing employee benefits is costly for new ventures, yet offering such inducements is often essential to developing human capital. While a broad combination of employee benefits could yield synergistic effects, adopting a large number of benefits may not be feasible for resource constrained ventures. To ensure survival, while limiting misallocation of scarce resources towards benefits that have lower returns, entrepreneurs must be selective in choosing the benefits that generate the most ‘bang for the buck’. Our study assesses the effects of employee benefit offerings on venture survival odds. Based on a longitudinal sample of 1012 US-based ventures from the Kauffman Firm Survey and leveraging, signalling and motivation theories, we find that offering health insurance, flexible work schedules, paid vacation, or paid sick leave increase the odds of survival. However, offering employee stock ownership plans or tuition reimbursement has no significant influence on the odds of survival.
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Kirkley, William W. "Creating ventures: decision factors in new venture creation." Asia Pacific Journal of Innovation and Entrepreneurship 10, no. 1 (December 5, 2016): 151–67. http://dx.doi.org/10.1108/apjie-12-2016-003.
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Purpose The purpose of this pilot study was to identify the key factors that influence the decisions of entrepreneurs who are considering the creation of a new venture. The pilot was conducted to explore the cognitive antecedents of entrepreneurial decision-making and whether specific factors contribute to the decision to create a new venture. Design/methodology/approach The study utilised an inductive and interpretive research design within a constructivist paradigm. The sample comprised entrepreneurs situated in a business incubation unit who engaged in a series of semi-structured interviews. The results of this study will be used to refine the questions asked in preparation for a larger sample using in-depth interviews with identified entrepreneurs. The resulting narrative in this pilot was subjected to discourse analysis and is categorised into relevant themes. Findings The findings in this pilot study reveal that factors such as technological advancement, market opportunity, competition, customer demand and prevailing market conditions have a significant influence on the decision-making process involved in creating a new venture. Research limitations/implications Although the pilot has identified several factors in entrepreneurial decision-making, further work will be needed in the research design to be able to expose the cognitive processes associated with each factor. The aim is to identify the common cognitive characteristics associated with thinking through the decision to create a new venture with a much larger sample of entrepreneurs. Originality/value The value of this research lies in exploring and developing a better understanding of the antecedent cognitive processes used by entrepreneurs for identifying unique, innovative new ideas and converting them into exploitable products or services through new venture creation.
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McKelvie, Alexander, Johan Wiklund, and Anna Brattström. "Externally Acquired or Internally Generated? Knowledge Development and Perceived Environmental Dynamism in New Venture Innovation." Entrepreneurship Theory and Practice 42, no. 1 (December 12, 2017): 24–46. http://dx.doi.org/10.1177/1042258717747056.
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We investigate the relative importance of external market knowledge acquisition and internal knowledge generation in new venture innovation. We argue that the effectiveness of externally acquired knowledge is less important in environments that are perceived as highly dynamic. To test our model, we examine 316 new ventures in one singular, high-growth sector. We find that managers have different interpretations of dynamism within this single sector and that these perceptual variations have important implications for how new ventures develop knowledge in pursuit of innovation. In so doing, we illustrate important within-sector mechanisms and boundary conditions behind new venture knowledge development and innovation.
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Morland, Leigh. "Rounton Coffee and Bedford Street Coffee Shop." International Journal of Entrepreneurship and Innovation 18, no. 4 (November 2017): 256–63. http://dx.doi.org/10.1177/1465750317742325.
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This is the story of a new venture in coffee roasting (Rounton Coffee) and a diversification strategy in the form of a coffee shop (Bedford Street Coffee). The development of these businesses is explained through the experiences of the founder, Dave Beattie. It tells of how he first encountered speciality coffee and then turned his interest into business ventures. Attention is given to the context of speciality coffee and its impact on: product and service differentiation, business models, potential for crowdfunding, motivation for entrepreneurship and the associated learning agenda. The teaching note informs both new venture creation and the entrepreneurial experience and is suited to final year undergraduate and masters’ level courses exploring entrepreneurial learning, opportunity spotting and business model development. In addition, the context of speciality coffee gives insight into how supportive inter-organizational and customer relationships can resource new venture creation, despite challenges in establishing initial links.
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ÖRTQVIST, DANIEL, ERYADI K. MASLI, SHEIKH F. RAHMAN, and CHRISTOPHER SELVARAJAH. "DETERMINANTS OF CAPITAL STRUCTURE IN NEW VENTURES: EVIDENCE FROM SWEDISH LONGITUDINAL DATA." Journal of Developmental Entrepreneurship 11, no. 04 (December 2006): 277–96. http://dx.doi.org/10.1142/s1084946706000477.
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The early years are seen as a crucial period for the survival of ventures and yet only a limited number of studies have focused on successful new ventures when studying capital structure. Furthermore, only a few studies have included longitudinal data, tracking ventures over time, or have elaborated on the difference between short-term and long-term debt ratios when studying capital structure. In this paper, hypotheses are developed, based on capital structure theories and literature on new venture financing, and are tested on longitudinal empirical data. Results of multivariate analysis, through structural equation modeling, reveals that: (1) asset structure assists in explaining the variance in capital structure; (2) explained variance in dependent variables is decreasing for each of the four years studied; and (3) multi-group analysis reveals that the determinants influence short-term and long-term debt differently in the first four years of venture existence. Implications of this study suggest that determinants of capital structure in new ventures require theorizing of its own and demand special attention in entrepreneurial policy-making.
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Frias, Kellilynn M., Deidre L. Popovich, Dale F. Duhan, and Robert F. Lusch. "Perceived Market Risk in New Ventures: A Study of Early-Phase Business Angel Investment Screening." Journal of Macromarketing 40, no. 3 (May 26, 2020): 339–54. http://dx.doi.org/10.1177/0276146720926637.
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Business angels are vital sources of funding for new ventures. Yet, acquiring business angel support is difficult. Typically organized in professional networks, business angels collectively evaluate and deliberate about new ventures to determine their worthiness of support. One factor deemed to be critical during this evaluation is market risk. Yet, limited research in Macromarketing examines market risk. To our knowledge, no previous study examines market risk in capital markets, nor do they study angel financing. Neglecting to study angel financing is particularly problematic for macromarketing because this type of finance is much more prominent than venture capital in supporting new ventures. To fill this gap, we begin by exploring the literature by Lusch (and coauthors) linking marketing and capital markets as well as studies of market risk. We then craft fictitious angel investment proposals to measure market risk assessments by business angels and entrepreneurs. We ask which factors impact market risk during the early-phases of the investment screening process (when market risk is weighted more heavily) and identify whether these factors are evaluated differently by entrepreneurs versus business angels. Our findings reveal that commercialization capability, technological compatibility, and intellectual property rights enforceability influence perceived market risk and that entrepreneurs and business angels view these factors significantly differently. We then offer directions for further research related to this study and other work of Lusch. Finally, we suggest practical implications for use by business angels and entrepreneurs.
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Ryu, Min Ho, Jieun Park, and Kyu Tae Kwak. "Joint Ventures between Online Portals and News Publishers: Will they be an Alternative to Symbiosis?" Sustainability 12, no. 8 (April 17, 2020): 3296. http://dx.doi.org/10.3390/su12083296.
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Around the world, legacy news publishers are suffering from the deep decline of revenues and face the challenge of survival. As the situation continues, conflicts between online portal and news producers are also intensifying. Under these circumstances, Naver, the biggest internet portal in Korea, and several Korean news publishers have begun to seek a new breakthrough—media joint ventures. The joint venture between online portals and news publishers is a unique collaboration model that has not been found in other countries. This study investigates the motivation of the media joint ventures and evaluates the performance. To do this, the study suggests the sustainability of media joint ventures. This model consists of five major categories of media joint ventures’ performances, based on their strategic, financial, learning, managerial, and social influence aspects. After conducting an in-depth interview of media joint ventures and a focus group interview with nine experts from the media industry and business scholarships, the study shows that the media joint ventures could be a new alternative for both portals and news publishers. However, there were some differences in the sustainability evaluation of the operating body of the joint venture and outside experts.
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Singh, Abhinava S., Mayur Shah, and Priyanka Pathak. "Pitfalls of a fledgling venture, Fetakart: in search of a viable business model." Emerald Emerging Markets Case Studies 10, no. 4 (November 23, 2020): 1–16. http://dx.doi.org/10.1108/eemcs-02-2020-0039.
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Learning outcomes The learning outcomes include to identify and discuss important personality characteristics of an entrepreneur, to explore the business planning pitfalls that torment many new ventures and to understand key concepts of business model thinking. Case overview/synopsis The case is about Fetakart, a one-year old venture, which offered custom designed and printed t-shirts in Gujarat, India. The venture was launched by Himanshu Dhadnekar in 2018. Himanshu was a young first-generation entrepreneur who displayed entrepreneurial characteristics since his school days. Later, he was involved with a few failed startups, worked as an employee in different companies and curated new ventures. Fetakart was born out of another venture, MotivPrints, which sold a large variety of custom designed and high-quality printed products such as visiting cards, office essentials, apparels, packaging and marketing material. At MotivPrints, Himanshu discovered the market for customized t-shirts in India but with very little knowledge of the business model or capabilities of leading players such as Bewakoof.com. The venture started struggling and faced several problems including high cost demands by manufacturers and lack of funding. Where did Fetakart go wrong? Was Fetakart born out of impulse? Did Himanshu have a viable business model for Fetakart? Complexity academic level The case can be discussed in the class of entrepreneurship at master’s level. It can also be used in entrepreneurship specialization course and strategic management elective(s) in the second year of post-graduation. The case can be particularly useful for young entrepreneurs associated as incubatees with a business incubator and for an executive development program related to new ventures. Supplementary materials Teaching Notes are available for educators only. Subject code CSS 3: Entrepreneurship.
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Zimmerman, John. "Using Business Plans For Teaching Entrepreneurship." American Journal of Business Education (AJBE) 5, no. 6 (October 30, 2012): 727–42. http://dx.doi.org/10.19030/ajbe.v5i6.7395.
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Many educators use the preparation of a Business Plan as a culminating assignment in entrepreneurship courses. Additionally, a number of institutions and organizations conduct business plan competitions to further entrepreneurship education. The objective for both of these exercises is to prepare student entrepreneurs for the challenging task of authoring a coherent and compelling document to communicate their proposed new venture to a variety of audiences including potential investors, lenders, employees, and partners. Some research shows that business plans are not always the key success factor for the success of new ventures, but the exercise of writing a business plan is an important planning tool for entrepreneurs and a valuable integrative educational process for students, because it requires the student to employ concepts from a variety of their courses including marketing, finance, accounting, strategy, operations, and human resources. This paper provides a case study of a recommended method for teaching students how to prepare business plans using the best known methods from the literature, and from the requirements of organizations that finance new ventures. The case study also provides suggested tools for writing the business plan, and a rubric for evaluating the plan.