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Innovation Clusters
Growth-oriented entrepreneurship seeks to create and scale up businesses that will drive productivity growth, create new employment, increase innovation, promote business internationalization, and achieve sustainable economic growth. This book summarizes research on growth-oriented entrepreneurship and continues with an assessment of attempts to create the appropriate framework conditions for growth-oriented entrepreneurship. Chapter 2 identifies factors in the institutional environment that are conducive to innovation and to growth-oriented entrepreneurship. -
Emerging Companies
Growth-oriented entrepreneurship seeks to create and scale up businesses that will drive productivity growth, create new employment, increase innovation, promote business internationalization, and achieve sustainable economic growth. This book summarizes research on growth-oriented entrepreneurship and continues with an assessment of attempts to create the appropriate framework conditions for growth-oriented entrepreneurship. Chapter 3 examines the characteristics of innovative and emerging companies. It also considers what distinguishes them from other firms and what factors help them succeed. -
Definitions and Types of Entrepreneurship
Entrepreneurship has become a popular career option in developed and developing countries, and a subject of interest for researchers and policymakers. This book introduces several important topics relevant to entrepreneurship and the process of creating, or giving birth to, a new business. The chapters cover definitions and types of entrepreneurship; the relationships among entrepreneurship, innovation and development; research on entrepreneurship, comparative research into entrepreneurship in multiple countries and research into cross-border entrepreneurship (i.e., international activity of small-and medium-sized enterprises and new ventures); factors influencing entrepreneurial activities; motivational traits of prospective entrepreneurs; the influence of societal culture on entrepreneurial activities and attitudes regarding entrepreneurship as a career path; the influence of the institutional environment on entrepreneurship; and the role of entrepreneurs in launching new businesses. Chapter 1 offers an overview and definitions of entrepreneurship. From an economic perspective, entrepreneurship is generally conceptualized as the creation of a new business and the bearing of the risk associated with that business in exchange for profits to be derived from the exploitation of opportunities in the marketplace (e.g., demands of consumers that are not currently being satisfied). One of the most famous types of entrepreneurship, one that has also become closely aligned with conceptualizations of entrepreneurship, is Schumpeter's "creative destruction." In Schumpeter's view, the entrepreneur is driven by innovation, which can take the form of a totally new product or process or an innovative change to existing products or processes, which ultimately "destroy," or render obsolete, products and processes that have been used in the past. -
Research on Entrepreneurship
Entrepreneurship has become a popular career option in developed and developing countries, and a subject of interest for researchers and policymakers. This book introduces several important topics relevant to entrepreneurship and the process of creating, or giving birth to, a new business. The chapters cover definitions and types of entrepreneurship; the relationships among entrepreneurship, innovation and development; research on entrepreneurship, comparative research into entrepreneurship in multiple countries and research into cross-border entrepreneurship (i.e., international activity of small-and medium-sized enterprises and new ventures); factors influencing entrepreneurial activities; motivational traits of prospective entrepreneurs; the influence of societal culture on entrepreneurial activities and attitudes regarding entrepreneurship as a career path; the influence of the institutional environment on entrepreneurship; and the role of entrepreneurs in launching new businesses. This chapter offers a broad overview of the research on entrepreneurship, which includes work on: culture/ethnicity; economic growth; education/learning; entrepreneurship theory and practice; ethics; family-owned businesses; finance; firm performance/planning; gender; human resources; intraÂpreneurship versus entrepreneurship; international entrepreneurship, cross-national comparisons, and individual country studies; internationalization, exporting, and small business; motivation/firm creation or dissolution/founder characteristics; quality systems; resource-based views of the firm; social networks, business groups, and alliances; strategic planning and product development; supply chain management and distribution; teams; technology and technology-based firms; and venture capital. -
Factors Influencing Entrepreneurial Activities
Entrepreneurship has become a popular career option in developed and developing countries, and a subject of interest for researchers and policymakers. This book introduces several important topics relevant to entrepreneurship and the process of creating, or giving birth to, a new business. The chapters cover definitions and types of entrepreneurship; the relationships among entrepreneurship, innovation and development; research on entrepreneurship, comparative research into entrepreneurship in multiple countries and research into cross-border entrepreneurship (i.e., international activity of small-and medium-sized enterprises and new ventures); factors influencing entrepreneurial activities; motivational traits of prospective entrepreneurs; the influence of societal culture on entrepreneurial activities and attitudes regarding entrepreneurship as a career path; the influence of the institutional environment on entrepreneurship; and the role of entrepreneurs in launching new businesses. This chapter examines what factors influence the prevalence of entrepreneurship, including the motivational traits of the prospective entrepreneur, entrepreneurial opportunities and conditions, and cognitive factors. -
Trust, Entrepreneurship and the Developing World
Trust: Creating the Foundation for Entrepreneurship in Developing Countries is a four-chapter book with an introduction published by Berrett-Koehler Publisher in 2018 and written by Tarun Khanna, professor at Harvard Business School. Entrepreneurs in developing countries with great ideas cannot rely on the usual foundations for an efficient business climate-laws, regulatory oversight, and government protections-as they might in the developed world. As a result, these entrepreneurs must not only create, but also create the conditions to create. One important lesson of this book is that obstacles to entrepreneurship and the necessary creation of trust in businesses in the developing world must be tackled holistically. The problems facing entrepreneurs in the developing world can neither be easily modularized nor tackled in bits and pieces. Professor Khanna shares many insights with readers on how to build and develop that trust. In the Introduction, Trust, Entrepreneurship and the Developing World (26 pages), Khanna argues that good ideas from the developing world can easily morph into failed ones-coupled with acrimony and mistrust-if an entrepreneur inadvertently presumes on the sustenance of trust-enhancing societal foundations that are much more robust in the developed world. In this context, the entrepreneurial solution is to embrace the situation and to explicitly focus on nurturing trust in myriad ways as a complement to whatever business or societal problem the entrepreneur intends to solve. -
The Why's and How's of Trust
Trust: Creating the Foundation for Entrepreneurship in Developing Countries is a four-chapter book with an introduction published by Berrett-Koehler Publisher in 2018 and written by Tarun Khanna, professor at Harvard Business School. Entrepreneurs in developing countries with great ideas cannot rely on the usual foundations for an efficient business climate-laws, regulatory oversight, and government protections-as they might in the developed world. As a result, these entrepreneurs must not only create, but also create the conditions to create. One important lesson of this book is that obstacles to entrepreneurship and the necessary creation of trust in businesses in the developing world must be tackled holistically. The problems facing entrepreneurs in the developing world can neither be easily modularized nor tackled in bits and pieces. Professor Khanna shares many insights with readers on how to build and develop that trust. In Chapter 1, The Why's and How's of Trust (36 pages), Khanna compares the dairy industries of China and India to reveal the why's and how's of trust. Why? Because trust weaves together in a web all those needed for productive enterprise-and because, when this web is torn, there's a dramatic fall from grace. How? There are many ways to weave this web of trust, even in the same prosaic context-the production of milk. The Chinese solution emphasizes speed and high technology. In this chapter, Khanna profiles an entrepreneur borrowing tricks from California's technology industry to make his cows "happy"-while the Indian solution is a slow-but-rock-solid, community-based solution developed over decades and anchoring the future. The disparate entrepreneurial paths to the same high-productivity goal share the emphasis on trust that cocoons everyone, from dairy farmer to end consumer. -
The Mindset Change
Trust: Creating the Foundation for Entrepreneurship in Developing Countries is a four-chapter book with an introduction published by Berrett-Koehler Publisher in 2018 and written by Tarun Khanna, professor at Harvard Business School. Entrepreneurs in developing countries with great ideas cannot rely on the usual foundations for an efficient business climate-laws, regulatory oversight, and government protections-as they might in the developed world. As a result, these entrepreneurs must not only create, but also create the conditions to create. One important lesson of this book is that obstacles to entrepreneurship and the necessary creation of trust in businesses in the developing world must be tackled holistically. The problems facing entrepreneurs in the developing world can neither be easily modularized nor tackled in bits and pieces. Professor Khanna shares many insights with readers on how to build and develop that trust. In Chapter 2, The Mindset Change (26 pages), Professor Khanna argues that in the developing world, entrepreneurs must evolve their mindsets to look at problems as parts of an interconnected set that need to be addressed simultaneously. The entrepreneur rarely has the luxury of focusing only on a single aspect of a complex problem. Of course, this means that she faces a heavier burden than those in a more developed country setting. The story of a surgeon-entrepreneur, Dr. Devi Shetty, shows how this mindset change both elicits and contributes to the web of trust. Trust helps the entrepreneur create the conditions to create. -
Building on Existing Social Norms
Trust: Creating the Foundation for Entrepreneurship in Developing Countries is a four-chapter book with an introduction published by Berrett-Koehler Publisher in 2018 and written by Tarun Khanna, professor at Harvard Business School. Entrepreneurs in developing countries with great ideas cannot rely on the usual foundations for an efficient business climate-laws, regulatory oversight, and government protections-as they might in the developed world. As a result, these entrepreneurs must not only create, but also create the conditions to create. One important lesson of this book is that obstacles to entrepreneurship and the necessary creation of trust in businesses in the developing world must be tackled holistically. The problems facing entrepreneurs in the developing world can neither be easily modularized nor tackled in bits and pieces. Professor Khanna shares many insights with readers on how to build and develop that trust. In Chapter 3, Building on Existing Social Norms (36 pages), Professor Khanna shows that entrepreneurs will find it far easier to weave their webs of trust in the developing world if they capitalize on constructive, preexisting social norms and practices. These have often been in place for decades, if not centuries, in long-running, thriving societies. In this chapter, this web of trust can be seen playing out on a nationwide scale with entrepreneurs trying to develop financially and socially sustainable microfinance firms in both Mexico and India, while in the process propelling millions of their clients-mostly poor women-out of their subsistence existence. -
Working as a Team with the State
Trust: Creating the Foundation for Entrepreneurship in Developing Countries is a four-chapter book with an introduction published by Berrett-Koehler Publisher in 2018 and written by Tarun Khanna, professor at Harvard Business School. Entrepreneurs in developing countries with great ideas cannot rely on the usual foundations for an efficient business climate-laws, regulatory oversight, and government protections-as they might in the developed world. As a result, these entrepreneurs must not only create, but also create the conditions to create. One important lesson of this book is that obstacles to entrepreneurship and the necessary creation of trust in businesses in the developing world must be tackled holistically. The problems facing entrepreneurs in the developing world can neither be easily modularized nor tackled in bits and pieces. Professor Khanna shares many insights with readers on how to build and develop that trust. In Chapter 4, Working as a Team with the State (36 pages), Professor Khanna shows that the developing world is characterized by widespread mistrust of the state, with government seen as incompetent at best and corrupt at worst. Yet, Khanna contends, pillorying the state is pointless. In Brazil, the state made a successful push with conditional cash transfers to move people from poverty to subsistence. But would-be entrepreneurs there have stagnated, lacking a bridge to society's mainstream. If one thinks of the different parts of society as members of a team, the situation is much like the selecão-Brazil's fabled football team-which has fallen apart lately. In India, by contrast, an unlikely entrepreneurial partnership between technologists and the state has leapfrogged the world's tech leaders to provide a billion-plus residents a unique biometric identity where none existed earlier. Both Brazil and India spotlight the need to understand entrepreneurship as a team sport for it to have impact at scale. -
An Overview of the Family Business
This book introduces readers to the family business, which is the most prevalent form of business in the world. The differences between family and nonfamily businesses are emphasized in this book. This book has several key audiences and can be used as a supplemental text for university undergraduate or graduate level courses such as small business management, introduction to business, entrepreneurship, and family studies. This book focuses on family businesses in both the United States and other countries. Chapter 1 defines and provides an overview of family business. It corrects various misconceptions of family businesses, highlights the advantages of this organizational form, and demonstrates the prevalence of family businesses worldwide. -
Differences Between Family and Nonfamily Firms
This book introduces readers to the family business, which is the most prevalent form of business in the world. The differences between family and nonfamily businesses are emphasized in this book. This book has several key audiences and can be used as a supplemental text for university undergraduate or graduate level courses such as small business management, introduction to business, entrepreneurship, and family studies. This book focuses on family businesses in both the United States and other countries. Chapter 2 explores the many differences between a family-owned business and a nonfamilyÂ-owned business. Several significant differences are apparent between family and nonfamily firms. Family businesses often have a long-Âterm view; a lasting mission, vision, and purpose; a desire to create a nurturing, caring community and to act as stewards; and an ability to build relationships, bonds, and conÂnections with customers, suppliers, and other outsiders. -
Family Business Theories
This book introduces readers to the family business, which is the most prevalent form of business in the world. The differences between family and nonfamily businesses are emphasized in this book. This book has several key audiences and can be used as a supplemental text for university undergraduate or graduate level courses such as small business management, introduction to business, entrepreneurship, and family studies. This book focuses on family businesses in both the United States and other countries. Chapter 3 explores the major theories about family businesses, such as life cycles, agency theory, the resource-based approach, stakeholder theory, and the stewardship approach. -
Family Business Decision Making
This book introduces readers to the family business, which is the most prevalent form of business in the world. The differences between family and nonfamily businesses are emphasized in this book. This book has several key audiences and can be used as a supplemental text for university undergraduate or graduate level courses such as small business management, introduction to business, entrepreneurship, and family studies. This book focuses on family businesses in both the United States and other countries. Chapter 4 discusses how family firms make business decisions. The decision-making process changes over time, especially as succeeding generations take over owning and managing the business. -
Family Business Issues and Generational Differences
This book introduces readers to the family business, which is the most prevalent form of business in the world. The differences between family and nonfamily businesses are emphasized in this book. This book has several key audiences and can be used as a supplemental text for university undergraduate or graduate level courses such as small business management, introduction to business, entrepreneurship, and family studies. This book focuses on family businesses in both the United States and other countries. Chapter 5 explores the significant issues prevalent in a family firm, such as nepotism, compensation, conflict, and communication. -
Succession
This book introduces readers to the family business, which is the most prevalent form of business in the world. The differences between family and nonfamily businesses are emphasized in this book. This book has several key audiences and can be used as a supplemental text for university undergraduate or graduate level courses such as small business management, introduction to business, entrepreneurship, and family studies. This book focuses on family businesses in both the United States and other countries. Chapter 6 explores the most problematic issue in family firms: succession, or the transfer of ownership to the next generation. The ability to carry on a successful intergenerational transfer of ownerÂship and leadership (succession) is by far the single most important family business issue. Most family businesses do not have a successful transition of ownership from the founding generation to the second generation. -
Governance, Advisors, and Boards
This book introduces readers to the family business, which is the most prevalent form of business in the world. The differences between family and nonfamily businesses are emphasized in this book. This book has several key audiences and can be used as a supplemental text for university undergraduate or graduate level courses such as small business management, introduction to business, entrepreneurship, and family studies. This book focuses on family businesses in both the United States and other countries. Chapter 7 focuses on effective family business governance and the use of advisors and boards to shed light on the complexities of family business. There are three basic forms of family business governance: the controlling owner, the sibling partnerÂship, and the cousin consortium. -
Success Tips for Family Business Owners, Employers, and Professionals
This book introduces readers to the family business, which is the most prevalent form of business in the world. The differences between family and nonfamily businesses are emphasized in this book. This book has several key audiences and can be used as a supplemental text for university undergraduate or graduate level courses such as small business management, introduction to business, entrepreneurship, and family studies. This book focuses on family businesses in both the United States and other countries. Chapter 8 explores key success tips for long-lasting family firms. To survive for multiple generations, a family business needs enough flexibility to accept transition and the ability to recognize opportunity when the markets or business environment has changed. A family-owned business must address issues surrounding family employment policies. -
Trends in Family Business and Future Research
This book introduces readers to the family business, which is the most prevalent form of business in the world. The differences between family and nonfamily businesses are emphasized in this book. This book has several key audiences and can be used as a supplemental text for university undergraduate or graduate level courses such as small business management, introduction to business, entrepreneurship, and family studies. This book focuses on family businesses in both the United States and other countries. Chapter 9 discusses trends and further research in family business, including the increasing role of women in running these companies, the importance of a university education for successors, and the roles that family foundations can play. -
Business Analytics (BA) at a Glance
This book is about Business Analytics (BA)-an emerging area in modern business decision making. The first part provides an overview of the field of Business Intelligence (BI), which uses historical data to better understand and thereby improve business performance, as well as create new strategic opportunities for growth. Business analytics (BA) is about anticipated future trends of the key performance indicators used to automate and optimize business processes. The three major categories of business analytics-the descriptive, predictive, and prescriptive analytics along with advanced analytics tools are explained. The flow diagrams outlining the tools of each of the descriptive, predictive, and prescriptive analytics are presented. We also describe various terms related to business analytics. The second part of the book is about descriptive analytics and its applications. It discusses Data, Data Types and Descriptive Statistics, Data Visualization, Data Visualization with Big Data, Basic Analytics Tools: Describing Data Numerically-Concepts and Computer Applications. Finally, it presents an overview and a case on descriptive statistics with applications and notes on implementation. Chapter 1 provides an overview of business analytics and why these techniques are important.