Trust And Entrepreneurship

A Harvard Business School professor and international entrepreneur explains the crucial ingredient for success in the developing world. Entrepreneurial ventures often fail in the developing world because of the lack of something taken for granted in the developed world: trust. Over centuries the developed world has built up customs and institutions like enforceable contracts, an impartial legal system, credible regulatory bodies, even unofficial but respected sources of information like Yelp or Consumer Reports that have created a high level of what scholar and entrepreneur Tarun Khanna calls “ambient trust.” If a product is FDA-approved we feel confident it’s safe. If someone makes an untrue claim or breaks an agreement we can sue. Police don’t demand bribes to do their jobs. Certainly there are exceptions, but when brought to light they provoke a scandal, not a shrug. This is not the case in the developing world. But rather than become casualties of mistrust, Khanna shows that smart entrepreneurs adopt the mindset that, like it or not, it’s up to them to weave their own independent web of trust—with their employees, partners, clients, and customers—and with society as a whole. This can requires innovative approaches in places where the level of societal mistrust is so high that, as in one example Khanna provides, an official certification of quality simply arouses suspicion—and lowers sales! Using vivid examples from Brazil, China, India, Mexico and elsewhere, Khanna shows how entrepreneurs can build on existing customs and practices instead of trying to push against them. He highlights the role new technologies can play (but cautions that these are not panaceas), and explains how entrepreneurs can find dependable partners in national and local governments to create impact at scale

Although the subject of trust has received increasing attention in the fields of organisation studies and, to some extent, entrepreneurship, the field has, to date, largely been characterised by theoretical work which, though useful, is still often difficult - if not impossible to operationalise. This book adopts an alternative view to the scientific, modernist approach to organisational study, moving beyond a simple study of trust in organisations to tackle some of the more fundamental philosophical issues that surround management studies and entrepreneurship.

24 Steps to Success! Disciplined Entrepreneurship will change the way you think about starting a company. Many believe that entrepreneurship cannot be taught, but great entrepreneurs aren’t born with something special – they simply make great products. This book will show you how to create a successful startup through developing an innovative product. It breaks down the necessary processes into an integrated, comprehensive, and proven 24-step framework that any industrious person can learn and apply. You will learn: Why the “F” word – focus – is crucial to a startup’s success Common obstacles that entrepreneurs face – and how to overcome them How to use innovation to stand out in the crowd – it’s not just about technology Whether you’re a first-time or repeat entrepreneur, Disciplined Entrepreneurship gives you the tools you need to improve your odds of making a product people want. Author Bill Aulet is the managing director of the Martin Trust Center for MIT Entrepreneurship as well as a senior lecturer at the MIT Sloan School of Management. For more please visit http://disciplinedentrepreneurship.com/

In this innovative book, international scholars investigate trust and its role in relation to the entrepreneurial behaviour of small firms across a variety of institutional and cultural settings.

This book provides recent ideas, insights, facts, evidence, frameworks, and perspectives on how and why entrepreneurial families are successful over generations. The book focuses on how families successfully implement entrepreneurship across generations. That success, it argues, requires entrepreneurship at the level of the family, not only in the businesses the family owns and manages. Written by noted academics and consultants who are authorities on family entrepreneurship, the chapters provide a comprehensive exploration of the characteristics of successful entrepreneurial families, their motivations, how they behave over time, and, suggestions for how business families can encourage and sustain entrepreneurship. This comprehensive look at family entrepreneurship will serve as a fundamental reference text for family business consultants, owners, and scholars.

This monograph examined the role of trust in entrepreneurship. After reviewing the conceptualization of trust, the authors argue that trust should be seen in the context of a wider-set of entrepreneurship-supporting values.

The digital economy is a driver of change, innovation, and competitiveness for international businesses and organizations. Because of this, it is important to highlight emergent and innovative aspects of marketing strategies and entrepreneurial approaches to overcome the challenges of the digital world. The Handbook of Research on Entrepreneurship and Marketing for Global Reach in the Digital Economy provides innovative insights into the key developments and new trends associated with online challenges and opportunities. The content within this publication represents research encompassing corporate social responsibility, economic policy, and female entrepreneurship, and it is a vital reference source for policymakers, managers, entrepreneurs, graduate-level business students, researchers, and academicians seeking coverage on topics centered on conceptual, technological, and design issues related to digital developments in the economy.

Until Josiah Wedgwood, Britons ate from wood and pewter plates. Until Henry Heinz, women toiled over pickled foods. Until Michael Dell, few people owned a personal computer, let alone dreamed of buying one "built to order." According to business historian Nancy F. Koehn, these pathbreaking entrepreneurs shared a powerful gift: the ability to discern how economic and social change would affect consumer needs and wants. In Brand New, Koehn introduces us to six extraordinary leaders of brand creation who lived and worked during periods of widespread change: Josiah Wedgwood in the Industrial Revolution; Henry Heinz and Marshall Field in the Transportation and Communication Revolution; and Est?e Lauder, Howard Schultz of Starbucks, and Michael Dell in the Information Revolution. Through compelling and engaging profiles of these entrepreneurial visionaries, she reveals a provocative relationship between economic turbulence, household priorities, and company strategy that holds important lessons for today's brand builders. According to Koehn, these forward-thinking individuals understood the profound effects that socioeconomic change has on what customers want, have, and can afford as much as on what companies make-and were masters at exploiting the enormous business opportunities these demand-side shifts created. Indeed, the brands and companies created by these individuals have become such a part of everyday life that we've made them part of common speech: we pass the Heinz; eat off Wedgwood; order a Starbucks. Koehn draws from their diaries, correspondence, and official business records to demonstrate that these entrepreneurs were more than savvy marketers; they were institution builders. She shows how each used brand not as a logo, but as a vital strategic tool for creating best-of-class companies-and for building powerful organizational capabilities that supported their connections with customers and helped make new markets for their offerings. Distilling critical lessons for businesses operating in both the traditional and on-line worlds, Brand New will convince every entrepreneur of the remarkable power of brands to transform start-ups, gain competitive advantage, and change lives.