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The Influence of Prior Experience on Innovativeness and Development Decisions of Serial Entrepreneurs
Purpose: The aim of the paper is to examine the effects of prior entrepreneurial experience (failure or success) in relation to innovativeness and development priorities in subsequent business ventures undertaken by serial entrepreneurs. Design/Methodology/Approach: The study was conducted using the CATI technique on a sample of 400 micro and small serial entrepreneurs operating in Poland. The chi-square test of independence and Fisher's exact test were used to evaluate the research hypotheses. Findings: The conducted study enhances knowledge on how the nature of prior experience affects the innovativeness of subsequent business ventures as well as the development orientation of serial entrepreneurs. The research indicates that serial entrepreneurs with positive experience are more oriented towards the development of their entrepreneurial ventures, both in the current business activity and over the three subsequent years. Practical implications: The impact of prior experience on innovativeness has been demonstrated only in certain types of innovation (product and marketing innovations). Entrepreneurs with positive prior experience have shown a greater ability to successfully innovate in these two areas. Originality value: The results of the study suggest that the potential cognitive benefits derived from experienced failures can be neutralised by their demotivating consequences. Keywords: Serial entrepreneurship, entrepreneurial experience, innovativeness.
Journal Article
Down to business : 51 industry leaders share practical advice on how to become a young entrepreneur
\"Fenley and Jason provide access to leading innovators, inventors, and executives as they tell their stories and provide tips to a new generation of bosses\"-- Provided by publisher.
Book
Analysis of the Correlation Between Factors Supporting Micro-Entrepreneurship in the Area of the Silesian Voivodeship in Poland
Originality/value: The negative impact of the 2019 global pandemic has greatly affected micro-enterprises. The military conflict in Ukraine in early 2022 has destabilized global markets. Rising inflation in Poland became even more pronounced after the outbreak of war. Many micro-enterprises faced a difficult situation. Gaining knowledge about the impact of constraints related to the economic situation on the operation of micro-enterprises has become essential in order to develop mechanisms to mitigate negative effects on entrepreneurship based on micro-enterprises.
Journal Article
Pivot or die : how leaders thrive when everything changes
\"From Gary Shapiro, New York Times bestselling author and head of CES and the Consumer Technology Association, a manifesto for today's top executives, entrepreneurs, and leaders: pivot or die\"-- Provided by publisher.
BOOK
Entrepreneur Emma Grede on embracing fear
Serial entrepreneur Emma Grede spoke about the power of leaning into your fears at The Washington Post’s Global Women's Summit on Nov. 21.
Streaming Video
Meaningful work in startup organizations: reflections on emerging paradoxes/Os sentidos do trabalho no contexto laboral de startups: reflexoes sobre paradoxos emergentes/Significado del trabajo en el contexto laboral de las startups: reflexiones sobre las paradojas emergentes
The research aims to understand meaningful work in startups. Theoretically, the literature on startups and meaningful work are reviewed, and the five paradoxes of meaningful work proposed by Bailey et al. (2019) constitute the theoretical reference for conclusive propositions on the results after their analysis. This qualitative, exploratory-descriptive study is based on in-depth interviews with eight entrepreneurs and professionals working in startups. The data were analyzed using the technique of meaning core analysis and interpretation, and the following factors emerged: learning; growth and autonomy; importance of interpersonal relationships; social contribution; and organizational utility. The five paradoxes of Bailey et al. (2019) led to unique reflective conclusions about meaningful work in startups, pointing to directions for future studies. Keywords: Meaningful Work. Startups. Paradoxes. A pesquisa objetiva compreender os sentidos do trabalho emergentes no contexto laboral de startups. Teoricamente, as literaturas sobre startups e sentidos do trabalho sao revisadas e os cinco paradoxos sobre sentidos do trabalho, propostos por Bailey et al. grama de Pos (2019), constituem a referenda teorica para proposigoes conclusivas sobre os resultados, apos sua analise. Metodologicamente, trata-se de uma pesquisa qualitativa, de carater exploratorio-descritivo, baseada na escuta em profundidade a oito empreendedores e profissionais que trabalham em startups. Os dados foram analisados mediante a tecnica de analise e interpretagao dos nucleos de sentido, tendo emergido os seguintes sentidos: aprendizagem; crescimento e autonomia; valorizagao das relagoes; contribuigao social; utilidade organizacional. Os cinco paradoxos de Bailey et al. (2019) ensejaram conclusoes reflexivas peculiares sobre os sentidos do trabalho em startups, apontando caminhos para estudos futuros. Palavras-chave: Sentidos do trabalho. Startups. Paradoxos. La investigacion tiene como objetivo comprender el significado del trabajo en el contexto laboral de las startups. Teoricamente, se revisa la literatura sobre startups y los significados del trabajo, y las cinco paradojas del significado del trabajo propuestas por Bailey et al. (2019) constituyen la referencia teorica para las proposiciones conclusivas sobre los resultados despues de su analisis. Metodologicamente, se trata de un estudio cualitativo, exploratorio-descriptivo, basado en entrevistas en profundidad con ocho emprendedores y profesionales que trabajan en startups. Los datos se analizaron utilizando la tecnica de analisis e interpretacion de nucleos de significado, y surgieron los siguientes significados: aprendizaje; crecimiento y autonomia; valorizacion de las relaciones; contribucion social; utilidad organizacional. Las cinco paradojas de Bailey et al. (2019) condujeron a conclusiones reflexivas unicas sobre el significado del trabajo en las startups, senalando direcciones para estudios futuros. Palabras clave: Significados del trabajo. Startups. Paradojas.
Journal Article
What are producers and consumers?
Introduces the important relationship between producers and consumers as well as buyers and sellers and how they all work together to create a healthy economy.
Book
Beyond Simple Profit Maximization in Uncertain Markets: How Innovation and Entry Change Supply Curves and Producer Surplus
This article challenges the conventional wisdom that decreases in total revenue always cause firms to be worse off. Instead, innovations and entry causing clockwise rotations or parallel supply shifts can increase producer surplus even when total revenue decreases. Textbooks claiming producers are worse off when total revenue declines are misleading because producer surplus increases initially even when revenue declines. Schumpeterian entrepreneurs who create innovations that benefit low-productivity/high-marginal-cost production cause clockwise supply rotations, and entrepreneurs that create innovations that provide similar benefits to both high- and low-productivity producers cause parallel supply shifts. The article's focus on entry and innovation illustrates the importance of Julian Simon's argument that focusing on allocation rather than innovation often leads to wrong conclusions and Alchian's argument that uncertain foresight makes profit maximization meaningless as a guide to specifiable action. Though producer surplus increases then declines, consumer and total surplus always increase. Producer surplus eventually declines when clockwise supply rotations lead supply to be more elastic than demand, where the price-reducing effect of the innovation dominates the cost-reducing and quantity-enhancing effects. Entry and innovation that generate rightward parallel supply shifts cause producer surplus to increase at an increasing rate when supply is elastic until the inflection point where supply is unit elastic. Beyond the inflection point, parallel rightward supply shifts cause producer surplus to increase at a decreasing rate and, eventually, decline. Last, we conduct a numerical 3D analysis illustrating how entry and innovation that cause supply to rotate and shift affect producer surplus.
Journal Article