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Enhancing higher entrepreneurship education: insights from practitioners for curriculum improvement
(2024)
Curricula for higher entrepreneurship education should meet the requirements of both a solid theoretical foundation and a practical orientation. When these curricula are designed by education specialists, entrepreneurs are usually not consulted. To explore practitioners’ curricular recommendations, we conducted 73 semi-structured interviews with entrepreneurs with at least five years of professional experience. We collected 49 items for teaching and learning objectives, 37 for contents, 28 for teaching methods, and 17 for assessment methods. The respondents are convinced that students should acquire solid knowledge in business and management, legal issues, and entrepreneurship. For the latter, only some core aspects are provided. The entrepreneurs put greater emphasis on entrepreneurial skills and attitudes and consider experiential learning designs as most suitable, both in the secure setting of the classroom and in real life. The findings can help reflect on current entrepreneurship curriculum designs.
Gravitating exogenous shocks to the next normal through entrepreneurial coopetive interactions
(2023)
Purpose: Entrepreneurship can be viewed as an individual or group pursuit of market opportunities irrespective of the context. But when an exogenous shock alters and permanently alters the known normal, entrepreneurs can do no more than cope with the immediate impact. Covid-19 changed the normal for every-one, and the current study aims to analyse how the pandemic changed the context and entrepreneurial perspective of business owners geographically located in different cultural environments. Various experiences impacted them as they tried to navigate and mitigate the effects of the crisis on the wider economy and their business. We seek to identify the probable relevant entrepreneurial configurations in which one or more combinations of antecedent conditions are needed to cause entrepreneurs to adapt their behavior in order to increase their coopetitive interactions further, to mitigate the effects of the crisis.Originality: To the best of our knowledge, this is the first empirical study to address an entrepreneurial phenomenon using an integrative approach using PLS-SEM and fsQCA as separate prediction-oriented methods in order to validate the proposed conceptual model and to create a preliminary scaffolding for building the Theory of Unplanned Behavior in a crisis context.
Influence of generational status on immigrants’ entrepreneurial intentions to start new ventures
(2023)
Purpose: This study aims to identify the intentions of immigrant entrepreneurs to start new projects by investigating the role of influence of institutional support, social context, cultural intelligence, self-efficacy, optimizing personality traits and hierarchy legitimacy on intentions to start new ventures. In addition, the strength of the relationship for such factors and intentions to start new ventures was determined through the moderator role of easy access to venture capital.
Design/methodology/approach: To this end, this study complements the academic literature by integrating the structural equation modeling (SEM) and multiple-criteria decision-making (MCDM) techniques. Thus, the MCDM (i.e. analytic hierarchy process and vlsekriterijumska optimizcija i kaompromisno resenje [VIKOR]) is an effective approach to solving the problem of complexity and evaluation (i.e. multiple evaluation criteria, important criteria and data variation). Hence, to complete the strategic guideline solution, this study uses a survey for collecting data from 202 immigrants in Malaysia, Pakistan, Nigeria and Singapore.
Findings
The results from SEM prove several critical factors of immigrants’ entrepreneurs. These factors of immigrants’ entrepreneurs can be vital for academics and host countries. By focusing on these aspects and by developing some personality traits (such as self-efficacy and optimal personality traits), these factors can contribute a good deal to increasing the capabilities of immigrant’s entrepreneurs toward entrepreneurial intentions. In the validation, the statistical objective method indicates that the immigrants' prioritizations in all countries are supported by the systematic ranking. Thus, entrepreneurial intentions for immigrants can pursue the order proven by the VIKOR results.
Research limitations/implications: This study has some significant practical and theoretical implications. Practically, the study findings will enable managers to develop strategies to support immigrants for entrepreneurial intentions to start new ventures.
Originality/value: The novelty of the context under given circumstances of global environment adds to the originality of this study. Several previous studies have also emphasized the need for this type of study in other contexts. The findings can call managers’ attention toward a critical issue of immigrants’ entrepreneurial intentions to start new ventures.
This research examines the impact of firms’ decision-making, crisis management, and risk-taking behaviors on their sustainability and circular economy behaviors through the mediating role of their eco-innovation behavior in the energy industry in Iraq. Firms are exploring applicable mechanisms to increase green practices. This requires the industry to possess the essential skills to overcome the challenges that reduce sustainable activities. We applied a dual-stage structural equation modeling (PLS-SEM) and a multi-criteria decision-making (MCDM) approach to explore the linear relationships between variables, determine the weight of the criteria, and rank energy companies based on a circular economy. The online questionnaire was sent to 549 managers and heads of departments of Iraqi electric power companies. Out of these, 384 questionnaires were collected. The results indicate that firms’ crisis management, decision-making, and risk-taking behaviors are significantly and positively linked to their eco-innovation behavior. This study confirms the significant and positive impact of firms’ eco-innovation behavior on their sustainability and circular economy behaviors. Likewise, eco-innovation behavior has a fully mediating role. For the MCDM methods, ranking energy companies according to the circular economy can support policymakers’ decisions to renew contracts with leading companies in the ranking. Practitioners can also impose government regulations on low-ranked companies. Thus, governments can reduce the problems of greenhouse gas emissions and other environmental pollution.
Our study applies legitimacy theorizing to service research, zooming in on co-prosumption service business models, which reside on significant direct contacts among provider-actors and customers as well as fellow customers in the service space. Our findings are based on a longitudinal flexible pattern matching method on 17 coworking spaces. The service cocreation nuances the double role of customers as evaluators and cocreators of legitimacy. This is because customers can have immediate perceptions of the actions and values of the services in their legitimacy evaluation while cocreating the service. Legitimacy shaped via social and recursive processes occurs in three stages: provisional, calibrated, and affirmed legitimacy. Findings inform four trajectory mechanisms of value-in-use pattern provenance, emergent Business Model development adaptive to the spatial context and loyal customers, visible trances as well as inside-out and outside-in identification processes. Further, the processes in the micro-ecosystem of an interstitial service space can develop a superordinate logic which overlays the potentially present coopetive and heterogenous institutional logics and interests of service customers.
Entrepreneurship education has gained widespread attention in both education practice and research over the past three decades. However, whereas research has a strong focus on its effects and many normative concepts exist, little is known about how entrepreneurship is actually taught. To address this research gap, we conduct a curriculum analysis of the 50 best programs in entrepreneurship, according to the 2018 Financial Times ranking “Top MBAs for Entrepreneurship 2018”. In particular, we examine their objectives, learning contents and teaching as well as assessment methods as four major dimensions of a graduate entrepreneurship curriculum. The results show that the programs are primarily business and management programs, with a comparatively small share of entrepreneurship itself. Entrepreneurship-specific goals are entrepreneurial attitudes and competences, such as entrepreneurial leadership, entrepreneurial mindset, entrepreneurial skills, opportunity creation, opportunity identification, and transforming uncertainty into opportunity. The learning contents also focus on business, management, and law, whereas the contents relating to entrepreneurship include entrepreneurial failure, entrepreneurial management, entrepreneurial thinking, and entrepreneurship in general. Teaching methods are mainly the ones usually found in higher education, with business plans and prototyping as additional entrepreneurial ones. Assessment methods do not differ from those in business and management education.
Behavioral strategy
(2023)
Purpose: Behavioral strategy, as a cognitive- and social-psychological view on strategic management, has gained increased attention. However, its conceptualization is still fuzzy and deserves an in-depth investigation. The authors aim to provide a holistic overview and classification of previous research and identify gaps to be addressed in future research.
Design/methodology/approach: The authors conducted a systematic literature review on behavioral strategy. The final sample includes 46 articles from leading management journals, based on which the authors develop a research framework.
Findings: The results reveal cognition and traits as major internal factors. Besides, organizational and environmental contingencies are major external factors of behavioral strategy.
Originality/value: To the authors’ best knowledge, this is the first holistic systematic literature review on behavioral strategy, which categorizes previous research.
In social networks or, more specifically, online communities on tech-products, opinion leaders are important sources of advice for other consumers in the adoption and diffusion of new products. However, possibilities for potential users to exert their influence on opinion leadership are ignored. This study determines whether and how lead users may serve as opinion leaders in social networks and advise other consumers in the adoption and diffusion of new products. Our survey with 308 users in the Xiaomi and Huawei communities suggests that higher lead userness is positively and significantly associated with the likelihood of opinion giving and passing. Product-possessing innovativeness has a higher impact compared with information-possessing innovativeness. Product involvement does not enhance the effect of information-possessing innovativeness. The findings provide a better understanding of the formation of opinion leadership in social networks for an accelerated diffusion of new products.
In this chapter, we conduct bibliometric performance analyses and a co-citation analysis on all articles relating to family firms indexed in Scopus and Web of Science and all articles published in the Family Business Review, Journal of Family Business Management, and the Journal of Family Business Strategy. Based on the literature sample of 4,056 articles published between 1960 and 2020 by 3,600 authors in 783 journals and their 175,163 references, we identify the most productive and most cited journals, the most cited authors, and the 25 most cited articles. Our science mapping reveals the agency theory, definitions, entrepreneurship, internationalization, ownership, resources, socioemotional wealth, and succession as the predominant research themes in family firm research. Whereas entrepreneurship explicitly appears in one of the clusters, innovation does not yet. Based on our findings, we propose a research framework and point to several research gaps to be addressed by future research.
Purpose – Design thinking has become an omnipresent process to foster innovativeness in various fields. Due to its popularity in both practice and theory, the number of publications has been growing rapidly. The authors aim to develop a research framework that reflects the current state of research and allows for the identification of research gaps.
Design/methodology/approach – The authors conduct a systematic literature review based on 164 scholarly articles on design thinking.
Findings – This study proposes a framework, which identifies individual and organizational context factors, the stages of a typical design thinking process with its underlying principles and tools, and the individual as well as organizational outcomes of a design thinking project.
Originality/value – Whereas previous reviews focused on particular aspects of design thinking, such as its characteristics, the organizational culture as a context factor or its role on new product development, the authors provide a holistic overview of the current state of research.
Purpose – Design thinking has become an omnipresent process to foster innovativeness in various fields. Due to its popularity in both practice and theory, the number of publications has been growing rapidly. The authors aim to develop a research framework that reflects the current state of research and allows for the identification of research gaps.
Design/methodology/approach – The authors conduct a systematic literature review based on 164 scholarly articles on design thinking.
Findings – This study proposes a framework, which identifies individual and organizational context factors, the stages of a typical design thinking process with its underlying principles and tools, and the individual as well as organizational outcomes of a design thinking project.
Originality/value – Whereas previous reviews focused on particular aspects of design thinking, such as its characteristics, the organizational culture as a context factor or its role on new product development, the authors provide a holistic overview of the current state of research.
Our study applies legitimacy theorizing to service research, zooming in on co-prosumption service business models, which reside on significant direct contacts among provider-actors and customers as well as fellow customers in the service space. Our findings are based on a longitudinal flexible pattern matching method on 17 coworking spaces. The service cocreation nuances the double role of customers as evaluators and cocreators of legitimacy. This is because customers can have immediate perceptions of the actions and values of the services in their legitimacy evaluation while cocreating the service. Legitimacy shaped via social and recursive processes occurs in three stages: provisional, calibrated, and affirmed legitimacy. Findings inform four trajectory mechanisms of value-in-use pattern provenance, emergent Business Model development adaptive to the spatial context and loyal customers, visible trances as well as inside-out and outside-in identification processes. Further, the processes in the micro-ecosystem of an interstitial service space can develop a superordinate logic which overlays the potentially present coopetive and heterogenous institutional logics and interests of service customers.
The reduction in cost and increasing benefits of 3D printing technologies suggest the potential for printing dental prosthetics. However, although 3D printing technologies seem to be promising, their implementation in practice is complicated. To identify and rank the greatest implementation challenges of 3D printing in dental practices, the present study surveys dentists, dental technicians, and 3D printing companies using a ranking-type Delphi study. Our findings imply that a lack of knowledge is the most crucial obstacle to the implementation of 3D printing technologies. The high training effort of staff and the favoring of conventional methods, such as milling, are ranked as the second and third most relevant factors. Investment costs ranked in seventh place, whereas the lack of manufacturing facilities and the obstacle of print duration ranked below average. An inclusive implementation of additive manufacturing could be achieved primarily through the education of dentists and other staff in dental practices. In this manner, production may be managed internally, and the implementation speed may be increased.
Background
Wearables, as small portable computer systems worn on the body, can track user fitness and health data, which can be used to customize health insurance contributions individually. In particular, insured individuals with a healthy lifestyle can receive a reduction of their contributions to be paid. However, this potential is hardly used in practice.
Objective
This study aims to identify which barrier factors impede the usage of wearables for assessing individual risk scores for health insurances, despite its technological feasibility, and to rank these barriers according to their relevance.
Methods
To reach these goals, we conduct a ranking-type Delphi study with the following three stages. First, we collected possible barrier factors from a panel of 16 experts and consolidated them to a list of 11 barrier categories. Second, the panel was asked to rank them regarding their relevance. Third, to enhance the panel consensus, the ranking was revealed to the experts, who were then asked to re-rank the barriers.
Results
The results suggest that regulation is the most important barrier. Other relevant barriers are false or inaccurate measurements and application errors caused by the users. Additionally, insurers could lack the required technological competence to use the wearable data appropriately.
Conclusion
A wider use of wearables and health apps could be achieved through regulatory modifications, especially regarding privacy issues. Even after assuring stricter regulations, users’ privacy concerns could partly remain, if the data exchange between wearables manufacturers, health app providers, and health insurers does not become more transparent.
The reduction in cost and increasing benefits of 3D printing technologies suggest the potential for printing dental prosthetics. However, although 3D printing technologies seem to be promising, their implementation in practice is complicated. To identify and rank the greatest implementation challenges of 3D printing in dental practices, the present study surveys dentists, dental technicians, and 3D printing companies using a ranking-type Delphi study. Our findings imply that a lack of knowledge is the most crucial obstacle to the implementation of 3D printing technologies. The high training effort of staff and the favoring of conventional methods, such as milling, are ranked as the second and third most relevant factors. Investment costs ranked in seventh place, whereas the lack of manufacturing facilities and the obstacle of print duration ranked below average. An inclusive implementation of additive manufacturing could be achieved primarily through the education of dentists and other staff in dental practices. In this manner, production may be managed internally, and the implementation speed may be increased.
Both entrepreneurship and innovation play a key role for business growth and economic development and are conceptually highly intertwined. Both fields have received extensive attention that has resulted in a large number of publications. The aim of this work is to provide an overview on the coevolution of entrepreneurship and innovation over the last decades, with particular attention to recent research trends. To track the evolution at the intersection of both fields, we employ a bibliometric analysis, which allowed us to identify the key concepts, the backbone of research, and to provide a systematic classification of main research themes diagnosed including: 1) entrepreneurial innovation and digital transformation, 2) sustainable innovation and entrepreneurship, 3) product innovation and knowledge, 4) entrepreneurial orientation and leadership, and 5) regional entrepreneurship and innovation (innovative entrepreneurship and historical roots). The findings of this bibliometric review are reported in the form of a knowledge graph that represents the results obtained in terms of the knowledge base (key terms), knowledge domains, and knowledge evolution (themes and bursts), based on which themes for future research are suggested.
Background
Wearables, as small portable computer systems worn on the body, can track user fitness and health data, which can be used to customize health insurance contributions individually. In particular, insured individuals with a healthy lifestyle can receive a reduction of their contributions to be paid. However, this potential is hardly used in practice.
Objective
This study aims to identify which barrier factors impede the usage of wearables for assessing individual risk scores for health insurances, despite its technological feasibility, and to rank these barriers according to their relevance.
Methods
To reach these goals, we conduct a ranking-type Delphi study with the following three stages. First, we collected possible barrier factors from a panel of 16 experts and consolidated them to a list of 11 barrier categories. Second, the panel was asked to rank them regarding their relevance. Third, to enhance the panel consensus, the ranking was revealed to the experts, who were then asked to re-rank the barriers.
Results
The results suggest that regulation is the most important barrier. Other relevant barriers are false or inaccurate measurements and application errors caused by the users. Additionally, insurers could lack the required technological competence to use the wearable data appropriately.
Conclusion
A wider use of wearables and health apps could be achieved through regulatory modifications, especially regarding privacy issues. Even after assuring stricter regulations, users’ privacy concerns could partly remain, if the data exchange between wearables manufacturers, health app providers, and health insurers does not become more transparent.
Robo advisors represent a digital financial advice solution challenging traditional wealth and asset management, investment advice, retirement planning, and tax-loss harvesting. Based on algorithms, big data analysis, machine learning, and other technologies, these services minimize the necessity for human intervention. Based on an international three-stage Delphi study, we provide a plausible forecast of the development of the robo advisor industry, with regards to market development, competition, drivers of growth, customer segments, challenges, services, technologies, and societal change. The results suggest that the financial advice market will experience a further increase in the number of robo advisor services available. Existing and traditional financial advice players will be forced to adjust to the changing environment of the market. Due to low fees and ease of use, robo advisors will be made available to a broad cross section of society, and will cause significant market losses for traditional investment advice companies. Ten years from now, the predominant investment class will remain Exchange Traded Funds (ETFs). Even though degrees of human intervention are expected to vary considering the complexity of advice, automation will increase in significance when it comes to the development of robo advisors.
Regardless of the prevalence and value of change initiatives in contemporary organizations, these often face resistance by employees. This resistance is the outcome of change recipients’ cognitive and behavioral reactions towards change. To better understand the causes and effects of reactions to change, a holistic view of prior research is needed. Accordingly, we provide a systematic literature review on this topic. We categorize extant research into four major and several subcategories: micro and macro reactions. We analyze the essential characteristics of the emerging field of change reactions along research issues and challenges, benefits of (even negative) reactions, managerial implications, and propose future research opportunities.
Long-term value creation is expected not only to be concerned with maximizing shareholder value but also includes the impact on other stakeholders and the environment. Environmental, social, and governance (ESG) issues are therefore gaining increasing importance, in line with the growing demand for corporate sustainability. ESG ratings foster the comparison of companies with respect to their sustainable practices. This study aims to investigate how ESG ratings impact financial performance in the European food industry. Ordinary least squares regression is applied to analyze the relation between ESG ratings and financial performance over a 4-year period from 2017 to 2020. The profitability measures Return on Assets (ROA) and Return on Equity (ROE) are employed as financial performance measures, while ESG ratings are obtained from the database CSRHub. Results show that higher ESG ratings are associated with better financial performance. Although the effect is modest in the present study, the findings support previous results that ESG ratings are positively related to financial performance. Nonetheless, they also highlight that ESG ratings strongly converge to the mean, which depicts the need to reassess whether ESG ratings are able to measure actual ESG behavior.
Real options are widely applied in strategic and operational decision-making, allowing for managerial flexibility in uncertain contexts. Increased scholarly interest has led to an extensive but fragmented research landscape. We aim to measure and systematize the research field quantitatively. To achieve this goal, we conduct bibliometric performance analyses and bibliographic coupling analyses with an in-depth content review. The results of the performance analyses show an increasing interest in real options since the beginning of the 2000s and identity the most influential journals and authors. The science mappings reveal six and seven research clusters over the last two decades. Based on an in-depth analysis of their themes, we develop a research framework comprising antecedents, application areas, internal and external contingencies, and uncertainty resolution through real option valuation or reasoning. We identify several gaps in that framework, which we propose to tackle in future research.
Advances in Web 2.0 technologies have led to the widespread assimilation of electronic commerce platforms as an innovative shopping method and an alternative to traditional shopping. However, due to pro-technology bias, scholars focus more on adopting technology, and slightly less attention has been given to the impact of electronic word of mouth (eWOM) on customers’ intention to use social commerce. This study addresses the gap by examining the intention through exploring the effect of eWOM on males’ and females’ intentions and identifying the mediation of perceived crowding. To this end, we adopted a dual-stage multi-group structural equation modeling and artificial neural network (SEM-ANN) approach. We successfully extended the eWOM concept by integrating negative and positive factors and perceived crowding. The results reveal the causal and non-compensatory relationships between the constructs. The variables supported by the SEM analysis are adopted as the ANN model’s input neurons. According to the natural significance obtained from the ANN approach, males’ intentions to accept social commerce are related mainly to helping the company, followed by core functionalities. In contrast, females are highly influenced by technical aspects and mishandling. The ANN model predicts customers’ intentions to use social commerce with an accuracy of 97%. We discuss the theoretical and practical implications of increasing customers’ intention toward social commerce channels among consumers based on our findings.
Today, firms pursuing a pioneering strategy are often engaged in supply chain relationships to benefit from external resources and to improve their innovation. However, this effort can be impeded by power asymmetries in such relationships and especially by the execution of coercive power by their partner firm. Contracts could potentially reduce this risk of opportunistic behavior. Our survey study on 778 small to medium-sized enterprises in the European packaging and medical equipment industries examines how coercive power of the partner and the contractual arrangement between firms moderate the pioneering strategy's innovation outcomes in the short and long run. Our results confirm the negative effect of coercive power on innovation performance in both the short and long term. However, the compensating effect of rather complete contracts differs temporally. Whereas, contract completeness protects against higher dependence at the beginning of the collaboration, their effect diminishes over time. In contrast, rather incomplete contracts enhance the innovation performance in the long term, possibly complemented with trust.
In this study, we contribute to the scholarly conversation on firm-level business model changes following a neoconfigurational approach. By exploring configurations of business model changes over time, we add the direction of business model changes-namely business model convergence or divergence-as a vital avenue to the business model innovation literature. We identify necessary business model convergence and divergence recipes in a sample of N = 217 strategic dyadic alliances. Firstly, technological proximity emerges as a single precondition to both converging and diverging business models. Secondly, business models between competitors either converge through complementarities or tend not to change relative to each other. Thirdly, equity participation enables business model divergence through co-specialization. We conclude with a discussion of business model trajectories and future research directions.
In this study, we contribute to the scholarly conversation on firm-level business model changes following a neoconfigurational approach. By exploring configurations of business model changes over time, we add the direction of business model changes—namely business model convergence or divergence—as a vital avenue to the business model innovation literature. We identify necessary business model convergence and divergence recipes in a sample of N = 217 strategic dyadic alliances. Firstly, technological proximity emerges as a single pre-condition to both converging and diverging business models. Secondly, business models between competitors either converge through complementarities or tend not to change relative to each other. Thirdly, equity participation enables business model divergence through co-specialization. We conclude with a discussion of business model trajectories and future research directions.
In diesem Beitrag möchten wir einen Gedanken des amerikanischen Mathematikers Paul Halmos aufgreifen und konkretisieren. Wir möchten verdeutlichen, dass ökonomisches Denken nicht abstrakt gelehrt, sondern „erfahren“ werden muss, wenn es nachhaltig und in seiner ganzen Breite gefördert werden soll. Dazu dienen kognitiv aktivierende Aufgaben. Was man darunter versteht und welche Funktionen und Qualitätsmerkmale Aufgaben in der ökonomischen Bildung besitzen, verdeutlichen wir in den Abschnitten 1 und 2. Im Praxisteil (Abschnitte 3 bis 8) werden konkrete, unterrichtlich erprobte Beispielaufgaben vorgestellt, mit denen ökonomisches Denken erfolgreich gefördert werden kann. Unser Beitrag schließt mit einer kurzen Skizze wirtschaftsdidaktischer Implikationen (Abschnitt 9).
Real options are widely applied in strategic and operational decision-making, allowing for managerial flexibility in uncertaincontexts. Increased scholarly interest has led to an extensive but fragmented research landscape. We aim to measure andsystematize the research field quantitatively. To achieve this goal, we conduct bibliometric performance analyses and bibliographiccoupling analyses with an in-depth content review. The results of the performance analyses show an increasing interest in realoptions since the beginning of the 2000s and identify the most influential journals and authors. The science mappings reveal sixand seven research clusters over the last two decades. Based on an in-depth analysis of their themes, we develop a researchframework comprising antecedents, application areas, internal and external contingencies, and uncertainty resolution throughreal option valuation or reasoning. We identify several gaps in that framework, which we propose to tackle in future research.
Real options are widely applied in strategic and operational decision-making, allowing for managerial flexibility in uncertaincontexts. Increased scholarly interest has led to an extensive but fragmented research landscape. We aim to measure andsystematize the research field quantitatively. To achieve this goal, we conduct bibliometric performance analyses and bibliographiccoupling analyses with an in-depth content review. The results of the performance analyses show an increasing interest in realoptions since the beginning of the 2000s and identify the most influential journals and authors. The science mappings reveal sixand seven research clusters over the last two decades. Based on an in-depth analysis of their themes, we develop a researchframework comprising antecedents, application areas, internal and external contingencies, and uncertainty resolution throughreal option valuation or reasoning. We identify several gaps in that framework, which we propose to tackle in future research.
Entrepreneurial failure
(2022)
Although entrepreneurial failure (EF) is a fairly recent topic in entrepreneurship literature, the number of publications has been growing dynamically and particularly rapidly. Our systematic review maps and integrates the research on EF based on a multi-method approach to give structure and consistency to this fragmented field of research. The results reveal that the field revolves around six thematic clusters of EF: 1) Soft underpinnings of EF, 2) Contextuality of EF, 3) Perception of EF, 4) Two-sided effects of EF, 5) Multi-stage EF effects, and 6) Institutional drivers of EF. An integrative framework of the positive and negative effects of entrepreneurial failure is proposed, and a research agenda is suggested.
Entrepreneurship education (EE) has attracted much scholarly attention, showing exponential growth in publication and citation numbers. The research field has become broad, complex, and fragmented, making it increasingly difficult to oversee. Our research goal is to organise and integrate the previous literature. To this end, we use bibliometric analyses, differing from prior analyses, which are outdated or have a different focus. Our results show an immense growth in publications and citations over the last decade and an almost equal involvement of business and educational research. We identify the most productive and influential journals and authors. Our co-citation analysis reveals two research clusters, one focusing on psychological constructs relating to EE, and the other on entrepreneurial behaviour and new venture creation. Based on a review of the 25 most-cited articles on an annual basis, we identify and quantify the most relevant research themes and integrate them into a research framework that we propose for future research. A major finding is that extant research centres around the outcomes of entrepreneurship education, whereas its pedagogy is still mainly a black box.
Long-term value creation is expected not only to be concerned with maximizing shareholder value but also includes the impact on other stakeholders and the environment. Environmental, social, and governance (ESG) issues are therefore gaining increasing importance, in line with the growing demand for corporate sustainability. ESG ratings foster the comparison of companies with respect to their sustainable practices. This study aims to investigate how ESG ratings impact financial performance in the European food industry. Ordinary least squares regression is applied to analyze the relation between ESG ratings and financial performance over a 4-year period from 2017 to 2020. The profitability measures Return on Assets (ROA) and Return on Equity (ROE) are employed as financial performance measures, while ESG ratings are obtained from the database CSRHub. Results show that higher ESG ratings are associated with better financial performance. Although the effect is modest in the present study, the findings support previous results that ESG ratings are positively related to financial performance. Nonetheless, they also highlight that ESG ratings strongly converge to the mean, which depicts the need to reassess whether ESG ratings are able to measure actual ESG behavior.
Entrepreneurship education (EE) has attracted much scholarly attention, showing exponential growth in publication and citation numbers. The research field has become broad, complex, and fragmented, making it increasingly difficult to oversee. Our research goal is to organise and integrate the previous literature. To this end, we use bibliometric analyses, differing from prior analyses, which are outdated or have a different focus. Our results show an immense growth in publications and citations over the last decade and an almost equal involvement of business and educational research. We identify the most productive and influential journals and authors. Our co-citation analysis reveals two research clusters, one focusing on psychological constructs relating to EE, and the other on entrepreneurial behaviour and new venture creation. Based on a review of the 25 most-cited articles on an annual basis, we identify and quantify the most relevant research themes and integrate them into a research framework that we propose for future research. A major finding is that extant research centres around the outcomes of entrepreneurship education, whereas its pedagogy is still mainly a black box.
Entrepreneurial failure
(2022)
Although entrepreneurial failure (EF) is a fairly recent topic in entrepreneurship literature, the number of publications has been growing dynamically and particularly rapidly. Our systematic review maps and integrates the research on EF based on a multi-method approach to give structure and consistency to this fragmented field of research. The results reveal that the field revolves around six thematic clusters of EF: 1) Soft underpinnings of EF, 2) Contextuality of EF, 3) Perception of EF, 4) Two-sided effects of EF, 5) Multi-stage EF effects, and 6) Institutional drivers of EF. An integrative framework of the positive and negative effects of entrepreneurial failure is proposed, and a research agenda is suggested.
Business incubators hatch start-ups, helping them to survive their early stage and to create a solid foundation for sustainable growth by providing services and access to knowledge. The great practical relevance led to a strong interest of researchers and a high output of scholarly publications, which made the field complex and scattered. To organize the research on incubators and provide a systematic overview of the field, we conducted bibliometric performance analyses and science mappings. The performance analyses depict the temporal development of the number of incubator publications and their citations, the most cited and most productive journals, countries, and authors, and the 20 most cited articles. The author keyword co-occurrence analysis distinguishes six, and the bibliographic coupling seven research themes. Based on a content analysis of the science mappings, we propose a research framework for future research on business incubators.
Business incubators hatch start-ups, helping them to survive their early stage and to create a solid foundation for sustainable growth by providing services and access to knowledge. The great practical relevance led to a strong interest of researchers and a high output of scholarly publications, which made the field complex and scattered. To organize the research on incubators and provide a systematic overview of the field, we conducted bibliometric performance analyses and science mappings. The performance analyses depict the temporal development of the number of incubator publications and their citations, the most cited and most productive journals, countries, and authors, and the 20 most cited articles. The author keyword co-occurrence analysis distinguishes six, and the bibliographic coupling seven research themes. Based on a content analysis of the science mappings, we propose a research framework for future research on business incubators.
Background:
Research into the application of virtual reality technology in the health care sector has rapidly increased, resulting in a large body of research that is difficult to keep up with.
Objective:
We will provide an overview of the annual publication numbers in this field and the most productive and influential countries, journals, and authors, as well as the most used, most co-occurring, and most recent keywords.
Methods:
Based on a data set of 356 publications and 20,363 citations derived from Web of Science, we conducted a bibliometric analysis using BibExcel, HistCite, and VOSviewer.
Results:
The strongest growth in publications occurred in 2020, accounting for 29.49% of all publications so far. The most productive countries are the United States, the United Kingdom, and Spain; the most influential countries are the United States, Canada, and the United Kingdom. The most productive journals are the Journal of Medical Internet Research (JMIR), JMIR Serious Games, and the Games for Health Journal; the most influential journals are Patient Education and Counselling, Medical Education, and Quality of Life Research. The most productive authors are Riva, del Piccolo, and Schwebel; the most influential authors are Finset, del Piccolo, and Eide. The most frequently occurring keywords other than “virtual” and “reality” are “training,” “trial,” and “patients.” The most relevant research themes are communication, education, and novel treatments; the most recent research trends are fitness and exergames.
Conclusions:
The analysis shows that the field has left its infant state and its specialization is advancing, with a clear focus on patient usability.
The hospitality industry worldwide is among the hardest-hit industries from the COVID-19 lockdowns. Initial theoretical and practical observations in the hospitality industry indicate that business model innovation (BMI) might be a solution to recover from and successfully cope with the COVID-19 crisis. Interestingly, some firms in the hospitality industry already started to successfully adapt their business models. This study explores the why and how of these successful recovery attempts through BMI by conducting a multiple case study of six hospitality firms in Austria. We rely on interview data from managers together with one of their main stammgasts for each case, which we triangulate with secondary data for the analysis. Findings show that BMI is applied during and after the crisis to create new revenue streams and secure a higher level of liquidity, with an important role of stammgasts.
Business and management research on scenarios has been highly productive over the decades but led to a complex literature that is hard to oversee. To organize the field and identify distinguishable research clusters, we conducted a co-citation analysis focusing on the long-term history of research. We compare our findings with a previously published bibliographic coupling, focusing on the more recent research to trace its development over time. Our study revealed six research clusters: (1) Planning the Future with Scenarios, (2) Scenario Planning in Strategic Management, (3) Reinforcing the Scenario Technique, (4) Integration of Scenario Planning and MCDA, (5) Combination of Different Methods, and (6) Decision-making through Stochastic Programming, whereas the bibliographic coupling generated 11 clusters. Some former research clusters were divided into separate new clusters, while others were united. Additionally, completely new clusters emerged. Future research on scenarios is expected (1) to further differentiate into strategy and operations, (2) to be based on “behavioral futures” or “behavioral foresight” as a new research stream, (3) to advance the scenario technique methodically and include new specific scenario generation methods, and (4) to put forth new application areas.
In coherence with the progressive digitalization of all areas of life, the Internet of Things (IoT) is a flourishing concept in both research and practice. Due to the increasing scholarly attention, the literature landscape has become scattered and fragmented. With a focus on the commercial application of the IoT and corresponding research, we employ a co-citation analysis and literature review to structure the field. We find and describe 19 research themes. To consolidate the extant research, we propose a research framework, which is based on a theoretical implementation process of IoT as a concept, specific IoT applications, or architectures integrated in an adapted input–process–output model. The main variables of the model are an initial definition and conceptualization of an IoT concept (input), which goes through an evaluation process (process), before it is implemented and can have an impact in practice (output). The paper contributes to interdisciplinary research relating to a business and management perspective on IoT by providing a holistic overview of predominant research themes and an integrative research framework.
Family businesses strive not only for economic prosperity but also for social and environmental values and achievements. In an ever-changing business environment, dynamic capabilities are required to sustain performance across these areas. To understand these mechanisms in order to proactively manage them, it is necessary to identify their specific microfoundations and uncover how these relate to sustainability. However, research on sustainability dynamic capabilities in family businesses and their microfoundations is scarce. To address this research gap, we conducted semi-structured interviews with 11 German and Swiss family businesses from different industries of different ages and sizes. Our findings suggest that the majority of dynamic capability microfoundations relate to economic sustainability, with a specific focus on future orientation, traditional mindsets, rapid decision-making, intuition, speed, and resource slack. Further, we find the social aspects of innovative mindsets, human capital investments, and participation to be the specific microfoundations that strongly link with social and, eventually, economic sustainability. However, we did not find specific microfoundations for environmental sustainability.
Technological change and development have been ongoing in the motion picture industry since its beginnings some 125 years ago. What further advancements of digitalization can be expected over the next decade and what are its implications for the industry’s value chain? To answer this question, we conducted an international two-stage Delphi study. The results suggested a more frequent use of smartphones as cameras, the emergence of full digital film sets and digital star avatars, as well as advancements in VR-based and interactive movies. The findings imply challenges for traditional players in the motion picture value chain. Production technology becomes both simpler and more complex, leading to the threat of new entrants.
This paper aims to confirm pitfalls relevant in the integration stage of startup acquisitions mentioned in the literature and to identify new ones. To accomplish this, we conducted a literature review and a multiple case study with semi-structured, qualitative expert interviews. The results indicate the integration of an acquired startup may be challenged by potential pitfalls relating to acquirers or startups or a lack of their concordance. Unfavorable integration process attributes can also harm the integration success. We identified a lack of national-cultural fit and low performance of the integration team as additional potential pitfalls.
Background: Voice-controlled intelligent personal assistants (VIPAs), such as Amazon Echo and Google Home, involve artificial intelligence-powered algorithms designed to simulate humans. Their hands-free interface and growing capabilities have a wide range of applications in health care, covering off-clinic education, health monitoring, and communication. However, conflicting factors, such as patient safety and privacy concerns, make it difficult to foresee the further development of VIPAs in health care. <br /> Objective: This study aimed to develop a plausible scenario for the further development of VIPAs in health care to support decision making regarding the procurement of VIPAs in health care organizations. Methods: We conducted a two-stage Delphi study with an internationally recruited panel consisting of voice assistant experts, medical professionals, and representatives of academia, governmental health authorities, and nonprofit health associations having expertise with voice technology. Twenty projections were formulated and evaluated by the panelists. Descriptive statistics were used to derive the desired scenario. <br /> Results: The panelists expect VIPAs to be able to provide solid medical advice based on patients' personal health information and to have human-like conversations. However, in the short term, voice assistants might neither provide frustration-free user experience nor outperform or replace humans in health care. With a high level of consensus, the experts agreed with the potential of VIPAs to support elderly people and be widely used as anamnesis, informational, self-therapy, and communication tools by patients and health care professionals. Although users' and governments' privacy concerns are not expected to decrease in the near future, the panelists believe that strict regulations capable of preventing VIPAs from providing medical help services will not be imposed. <br /> Conclusions: According to the surveyed experts, VIPAs will show notable technological development and gain more user trust in the near future, resulting in widespread application in health care. However, voice assistants are expected to solely support health care professionals in their daily operations and will not be able to outperform or replace medical staff.
Radical innovations
(2021)
The fast growing body of radical innovation research is fragmented and difficult to overlook. We provide an overview of the most cited journals, authors, and publications and conduct a bibliographic coupling to structure the literature landscape. We identified the following research clusters: management of radical innovations, organizational learning and knowledge, financial aspects of radical innovation, radical innovation adoption and diffusion, radical industry innovations as challenges for incumbents, and radical innovation in specific industries. Based on an in-depth content analysis of these clusters, we identify the following future research opportunities: A systematic compilation of all intra- and extra-organizational management aspects, moderators, and mediators, extending radical innovation research's epistemological basis by adding strategic foresight, further research in individual, group (team), organizational, and inter-organizational capabilities required for radical innovation, a managerial perspective on adoption and diffusion of radical innovations, applying portfolio theory and real options theory to radical innovation research, stronger research efforts on coping strategies for firms faced with competitors' radical innovations, and intensifying both industry-specific and cross-industry research.
Urban air mobility
(2021)
The growing global demand for efficient and sustainable urban mobility in metropolitan areas has created innovative approaches to new modes of transportation and vehicles. Using the Delphi method, this study explored the prospective development of urban air mobility (UAM), specifically the emergence of air taxis or vertical take-off and landing (VTOLs). The two-staged study examined 25 projections regarding technological and infrastructural aspects to propose a future scenario for UAM and air taxis for the next 5-10 years. The questioned experts confirmed most of the proposed statements from both areas but were undetermined regarding certain technological aspects. Considering the crucial impacts of regulation and certification as well as consumer perception and acceptance for UAM and air taxis, further research on these topics and their correlation is suggested.
Executive education (EE) has been an established means for management education. However, due to the ever-changing business environment, progress in education technology, and new competitors, EE has been continuously evolving and can be expected to further change. Employing a three-stage international Delphi study, we identify a plausible scenario for the further development of EE over the next decade. The results suggest major changes for management training. The panel expects major shifts in teaching methods and curricula construction. Business schools are expected to increase content customization, to adapt delivery formats, and to enhance coverage of topical issues to better respond to leaders' needs.
My home is your castle
(2021)
Purpose
This paper aims to formulate the most probable future scenario for the accommodation sharing sector within the next five to ten years. It addresses the following six thematic aspects: relevance, different forms of accommodation sharing, users, hosts, platforms, and finally, industry regulation.
Design/methodology/approach
This study identifies the most likely holistic future scenario by conducting a two-stage Delphi study involving 59 expert panelists. It addresses 33 projections for six thematic sections of the accommodation sharing industry: relevance, different forms of accommodation sharing, users, hosts, platforms, and finally, industry regulation.
Findings
The results indicate that the number of shared accommodations and users of home-sharing will increase. Moreover, the cost advantage is the predominant driver for users to engage in the accommodation sharing segment, and for the hosts, the generation of an extra income is the primary incentive. Finally, the regulation within this industry is expected to be more effective in the foreseeable future.
Practical implications
The results are critical, not only to advance our theoretical understanding and stimulate critical discussions on the long-term development of accommodation sharing but also to assist governments and policymakers who have an interest in developing and regulating this sector and developers seeking business opportunities.
Originality/value
While there is ample knowledge about the past and current development of accommodation sharing in tourism, little is understood about its potential future development and implications for consumers, the economy, and society. To date, no scientific research is available that develops scenarios about the future of accommodation sharing.
Background:
Research into the application of virtual reality technology in the health care sector has rapidly increased, resulting in a large body of research that is difficult to keep up with.
Objective:
We will provide an overview of the annual publication numbers in this field and the most productive and influential countries, journals, and authors, as well as the most used, most co-occurring, and most recent keywords.
Methods:
Based on a data set of 356 publications and 20,363 citations derived from Web of Science, we conducted a bibliometric analysis using BibExcel, HistCite, and VOSviewer.
Results:
The strongest growth in publications occurred in 2020, accounting for 29.49% of all publications so far. The most productive countries are the United States, the United Kingdom, and Spain; the most influential countries are the United States, Canada, and the United Kingdom. The most productive journals are the Journal of Medical Internet Research (JMIR), JMIR Serious Games, and the Games for Health Journal; the most influential journals are Patient Education and Counselling, Medical Education, and Quality of Life Research. The most productive authors are Riva, del Piccolo, and Schwebel; the most influential authors are Finset, del Piccolo, and Eide. The most frequently occurring keywords other than “virtual” and “reality” are “training,” “trial,” and “patients.” The most relevant research themes are communication, education, and novel treatments; the most recent research trends are fitness and exergames.
Conclusions:
The analysis shows that the field has left its infant state and its specialization is advancing, with a clear focus on patient usability.
Digitizing grocery retailing
(2021)
Multiple emerging technologies both threaten grocers and offer them attractive opportunities to enhance their value propositions, improve processes, reduce costs, and therefore generate competitive advantages. Among the variety of technological innovations and considering the scarcity of resources, it is unclear which technologies to focus on and where to implement them in the value chain. To develop the most probable technology forecast that addresses the application of emerging technologies in the grocery value chain within the current decade, we conduct a two-stage Delphi study. Our results suggest a high relevance of almost all technologies. The panel is only skeptical about three specific projections. As a consequence, grocers are advised to build up knowledge regarding the application of these technologies in the most promising areas of their value chain.
Equity crowdfunding
(2021)
In this study, we explore the development of equity crowdfunding (ECF) over the next 5 to 10 years by conducting an international Delphi study. Our results indicate that the ECF market is expected to grow significantly. However, it is unlikely to disrupt other forms of financing and will not cover all SME financing needs. ECF will remain a funding technique for SMEs and small investors; it is unlikely to attract large corporations or institutional investors. Platforms will impose stricter requirements for capital raisers, expand their services, and innovate their business models. National governments will probably partly liberalize the ECF market.