Entrepreneurial Processes In A Changing Economy

This insightful book presents leading-edge European research on entrepreneurial processes in a changing global world. The contributors take a closer look at what constitutes entrepreneurial processes; how entrepreneurs develop their businesses and access critical resources in times of crisis; and which roles knowledge and innovation play in continuous venture development. The chapters included in this volume give a flavour of the themes and approaches featuring in contemporary entrepreneurship and small business research in Europe. Entrepreneurial Processes in a Changing Economy will prove invaluable for advanced undergraduate and postgraduate students of entrepreneurship and small business. Entrepreneurship and small business researchers and policy makers will also find plenty of relevant information in this important resource.

This is a groundbreaking economic analysis of entrepreneurship and the development process for innovation. The author strives to distinguish the role of the capitalist from that of an entrepreneur, and to show how the actions of the entrepreneur impact new employment, economic growth, and advancements in the overall standard of living. The book provides in-depth discussion of several critical concepts: the economic development of a product; Schumpeter's "temporary monopoly control;" the economic bounds of product and process innovations; and changing production functions. It also develops and integrates an analysis of how innovation-induced modifications in either products or processes affect both short-run and long-run average costs in production. As a special feature, each chapter includes an interview with a successful entrepreneur. Suggested readings are also provided.

Entrepreneurship is an extremely important, but little understood, component of the U.S. economy. This book aids that understanding by exploring the challenges and outcomes of the start-up phases of new firms. This is the first detailed, large-scale, longitudinally-based analysis of the entrepreneurial process. Three representative samples of new firms and two representative samples of nascent entrepreneurs (those attempting to start new firms) are used to consider a variety of factors that affect successful completion of the major transitions in the life of new businesses: conception, birth, and early development (survival and growth). Surprisingly, a substantial minority of start-ups become operational new firms. Among the many lessons the authors learn are that although new firm growth appears to reflect many factors, initial size is of special consequence. Not only are many general insights for entrepreneurs revealed, but the authors also pay special attention to the involvement of women and minorities in entrepreneurship and suggest effective government policy for different stages in the entrepreneurial process.

The Changing Global Economy and its Impact on International Entrepreneurship addresses different changes and challenges which small and medium sized enterprises (SMEs) face in an economy where they need to compete at home and cannot refrain from participating in international markets. This volume presents a collection of 12 carefully selected chapters that highlight challenging real-world cases to illustrate a variety of difficult problems. The book presents an analytical framework with three levels of analysis - entrepreneurial level, firm level, and institutional level - to document comprehensive, realistic and experientially-based entrepreneurial initiatives, potent firm and public policy strategies with solid results.

Immigrant entrepreneurs are known to be heterogeneous in terms of available resources and entrepreneurial outcomes. However, this heterogeneity, as well as immigrant entrepreneurs’ embeddedness in social networks and the institutional context of high-income welfare states such as Sweden, remains understudied. Sweden represents an interesting case as a popular immigration destination which liberalized its migration policy for entrepreneurs and changed other regulations, encouraging immigrant entrepreneurship after 2008. Theoretically, the dissertation contributes to the mixed embeddedness approach to immigrant entrepreneurship by considering three stages of the entrepreneurial process – entry, performance, and potential exit – in a changing institutional environment. Methodologically, the dissertation operationalizes the mixed embeddedness approach by studying these three stages – entry (propensity to start a business), performance (entrepreneurial incomes), and potential exit (duration in business) – among different categories of immigrants. Explanatory factors are drawn from three levels of analysis: institutional change (macro), social, ethnic and family networks (meso), and the individual’s human capital (micro). A range of statistical tools is used for empirical analyses: Difference-in-difference methods in combination with Coarsened Exact Matching and Oaxaca-Blinder decomposition are used to investigate the influence of institutional change on entrepreneurial entry and performance. Survival models based on Cox regression are applied to investigate the influence of social and family ties on the likelihood of entrepreneurial exit. A combination of clustering and association analysis allows heterogeneity to be approached via the categorization of immigrant entrepreneurs. Empirically, based on rich data from Swedish registers, the dissertation reveals that the propensity to start businesses in expanding ICT industries among labour immigrants was increased, and performance in terms of income among new immigrant entrepreneurs was improved after institutional change, compared to earlier. It also stresses that family networks mitigate a lack of other resources for refugee entrepreneurs, allowing them to stay in business longer. Two main categories of new immigrant entrepreneurs were distinguished in the overall heterogeneous population. The dissertation consists of four papers and an introductory chapter. Invandrarföretagare uppvisar stor heterogenitet när det gäller tillgängliga resurser och framgång i sitt företagande. Denna heterogenitet, liksom invandrarföretagens inbäddning i sociala nätverk och i den svenska välfärdsstatens institutionella kontext, är emellertid understuderad. Sverige utgör ett intressant fall eftersom det är ett land med relativt stor invandring som efter 2008 liberaliserade migrationspolitiken för företagare och på olika sätt uppmuntrade invandrares företagande. Teoretiskt bidrar avhandlingen till mixed embeddedness-perspektivet genom att analysera tre stadier i entreprenörsprocessen: uppstart, utveckling och eventuell avveckling, i förhållande till institutionell förändring. Mixed embeddedness operationaliseras i avhandlingen genom att olika kategorier invandrare studeras vid olika steg i entreprenörsprocessen; uppstart (benägenhet att starta ett företag), utveckling (företagarinkomster) samt eventuell avveckling (varaktighet i företaget) och genom att förklarande faktorer studeras på tre analysnivåer: institutionell förändring (makro), sociala, etniska och familjenätverk (meso) samt individens humankapital (mikro). En rad statistiska verktyg används för de empiriska analyserna; Difference-in-difference-metoder i kombination med Coarsened Exact Matching och Oaxaca-Blinder decomposition används för att undersöka hur institutionella förändringar påverkar uppstart och utveckling. Överlevnadsmodeller baserade på Cox-regression tillämpas för att undersöka hur sociala nätverk och familjeband påverkar sannolikheten för avveckling. Med en kombination av klusteranalys och associationsanalys undersöks mönster i heterogeniteten bland invandrarföretagarna genom kategorisering. Empiriskt, baserat på detaljerade data från svenska register, visar avhandlingen att benägenheten att starta verksamhet inom IKT-branschen ökade bland arbetskraftsinvandrare, samt att inkomsterna bland nya invandrarföretagare förbättrades efter en period av institutionell förändring. Avhandlingen visar även att familjenätverk motverkar bristen på andra resurser för företagare med flyktingbakgrund, vilket gör att de kan stanna i verksamheten längre. Två huvudkategorier går att urskilja i den heterogena gruppen av företagare. Avhandlingen är en sammanläggning av fyra artiklar och en inledande kappa.

Why do some individuals decide they want to create businesses and then actually do so? Why do others decide against this course of action, even though they appear to have what it takes to succeed? These two questions were among the first that researchers in the field of entrepreneurship tried to answer. Recently, it seems that the problem is much more difficult to solve than it first appeared thirty years ago. The venture creation phenomenon is a complex one, covering a wide variety of situations. The purpose of this book is to improve our understanding of this complexity by offering both a theory of the entrepreneurial process and practical advice on how to start a new business and manage it effectively. Entrepreneurship and New Value Creation is a fascinating, research-driven book that will appeal to graduate students, researchers and reflective practitioners concerned with the dynamics of the entrepreneurial process.

How and why are firms created, expanded and terminated by entrepreneurs in the knowledge intensive economy? The authors show these entrepreneurship processes are firmly embedded in a given social and economic context, that shapes the process by which some individuals discover entrepreneurial opportunities, creating new firms that sometimes grow to remarkable size, butmore often stay mundane or eventually exit. The authors expertly provide a theoretical and empirical examination of new knowledge intensive firms over their whole life cycle using a unique set of matched employee-employer data containing over three million individuals and over 200,000 firms. With theoretical pillars anchored in industrial organization economics, evolutionary organization theory, and entrepreneurship research, this book presents a detailed investigation of the entrepreneurial processes of firm entry, growth, and their eventual demise. This insightful book will prove to be invaluable for business policymakers as well as postgraduate students and researchers in management, economics, and entrepreneurship.

Context is everything in entrepreneurship research. This book compellingly demonstrates the ways in which the distinctive European cultural, societal and geographic environments enable research into new entrepreneurial phenomena. It also gives guidance as to how future research should endeavour to understand the influences of context.