Each type of retailing has strengths and weaknesses, so you decide which approaches you want to use in your business. Is retail the right opportunity for you? Weighing several factors will help you answer that question. Personality, motivations, your strengths and weaknesses, money, and experience should be at the top of your checklist.
Making a good career decision involves both self-assessment and market research. Begin the self-assessment process by examining your skills and identifying what kinds of products or services you can offer. What skills do you most enjoy using? If you are artistic, merchandising a store and designing advertising may appeal to you. Or you may be mechanically inclined, enjoy solving puzzles or helping people. Therefore an auto parts store, business consulting practice or birthing coach business may be for you. By tying your skills to your market's wants and needs, you greatly increase the likelihood that your new business will be successful.
Many people successfully make the transition from being an employee to an employer, but many do not. Do you have what it takes to be in business for yourself? Even if you are suited to be a business owner, is a consumer-focused business for you? Are you better suited to be a wholesaler, distributor or manufacturer? Answer the following five questions honestly. Talk to your spouse, best friend or prospective partner about your answers as a reality check. Are you good at multitasking?
In your own business, you have to be willing and able to do everything yourself. When you work for someone else, you are usually responsible for just one thing and have limited control. You are supported by others with expertise or experience in different roles and functions. In retail, every day can be a stretch, as you encounter customers, employees, vendors and landlords. You can't say, "That's not my job.
What is your risk tolerance? In a startup retail business, you worry about being in the right place at the right time with the right goods and services for the right people at the right price. Do you adjust quickly to unplanned events or prefer more predictable, organized projects?
Do you see risk as a threat or an opportunity? Do you count on a paycheck? New business owners can rarely count on a regular paycheck. Startups frequently require more capital than planned. Something's bound to go wrong or change even though everything is penciled out in your plan. If you break out in a cold sweat if you aren't paid on the same day every month, you may want to rethink going out on your own.
Most of the money you make will go right back into inventory and other costs of doing business. Are you a self-starter and comfortable being alone? Or do you draw your energy from being around others and count on colleagues for support and advice? In your own business, you must lead, knowing what to do and when to do it, and be fully accountable for everything that happens. The buck stops with you. Sometimes that's a lonely place. Do you value predictability or prize diversity? Not only are there laws against discrimination in hiring and business practices, but America is a multicultural society.
When you open your store or service company, you will be interacting with a wide spectrum of customers, vendors, advisors and employees. Retailers need to be people-oriented, flexible and good-natured. Can you manage conflict, see things from others' point of view, and cater to their taste, not yours? All businesses require dedication, determination, enthusiasm, flexibility and perseverance. Consumers today have a tremendous sense of well-being and wealth, but you should be prepared for a sharp or prolonged decline on Wall Street, a rise in interest rates or signs of a slowing economy, which could cause Americans to curb their buying.
There are all sorts of things that can turn people away from shopping, so plan for good times as well as rocky ones. If you want to get into a retail business because times are good, you may want to think again. If your passion for going out on your own and dealing directly with the public is not extinguished by the prospect of difficult times, read on. Will you launch your own business or buy an existing one?
Perhaps you're thinking about buying a franchise or a business opportunity. Whichever way you decide to go, keep the following in mind. The kinds of businesses you can purchase include franchises, business opportunities, network marketing systems, and existing independent businesses. Here are some facts and figures you can factor into your decision-making process.
In addition to a well-known brand name, buying a franchise offers many other advantages that aren't available to the entrepreneur starting a business from scratch. Perhaps the most significant is that you get a proven system of operation and training in how to use it. New franchisees can avoid a lot of the mistakes start-up entrepreneurs typically make because the franchisor has already perfected daily operations through trial and error. Entrepreneurs wanting to buy an existing business will have to do as much--or more--research and careful analysis as is required when starting from scratch.
Carefully evaluate the opportunity cost of entering various industries through acquisition. Do your due diligence and make sure there aren't any hidden reasons for the sale of the business--for example, the opening of a major competitor within your market area, a scheduled road widening that would take part of your parking lot, or increasing crime in the area. You may believe you have a distinct concept that is different or better than anything else out there, and you want to create your own business from the bottom up.
Most successful small businesses provide something attractive or advantageous by taking what's already there and developing some innovative features. Have you developed an improved technique for delivering goods to the market? Drive-thru coffee and juice bars situated near freeway onramps offer added value for commuters. Or, perhaps you have an idea that will fill a market niche. A few entrepreneurs have started up successful ventures in ecotourism and other forms of adventure travel for those with money, social consciousness and a desire for educational value to be added to their leisure time.
What is your unique proposition? Another reason for wanting to go your own way without the safety net of an existing business model is that you have developed new markets or promotional techniques for existing goods and services. For example, several years ago, Lenox Inc. Today, this promotional tool is now widely imitated in stores everywhere and online for weddings, graduation, Christmas and baby gifts.
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Although a great location may not guarantee success, a bad location will almost always guarantee failure. A new retail business needs to be where the customers are. You want a location with a reasonable degree of security, access to public transportation for your customers and employees, adequate parking for commercial as well as personal vehicles, room for an office, and that all-important sales space.
Where you locate will determine the hours you keep, who your clientele is, and what types of promotions you do. Also, where you set up shop will impact how long it will take you to grow. Luckily, you have lots of options. Despite the benefits of running a business from home--low overhead, no commute, and technology options that make it easy to project a professional image--a retail business is one of the few businesses that is difficult to run from home.
This is largely due to a conflict between needing customers to come to your place of business and the penalties of having a stream of clients visiting your home. Most residential zoning excludes retail, so your neighbors can report you to city or county officials if your business creates noticeable traffic, noise or parking problems. Some communities prohibit commercial vehicles or cars and trucks with signs on them from parking on the street.
One option for retailers who want to work out of their living room is to sell their goods and services from booths or tables at craft fairs, in cooperative booth space at emporiums or expositions, by mail order, or at flea markets. You can also sell retail on the internet. The best retail location combines visibility, affordability and lease terms you can live with. Brick-and-mortar retailers need to be where the action is, so deciding where to put your business is every bit as important as the business you decide to go into.
Take the time to analyze the areas that appeal to you. There are three phases of choosing a location for your retail business: selection of a city, choice of an area or type of location within a city, and identification of a specific site. Once you have a general idea of what city you like, choose an area or type of location within a city by evaluating these:. Directly related to the appearance of a retail location is the reputation of the landlord.
Unfortunately, some retail landlords actually hinder the operation of their tenants' businesses. In fact, the landlord may be largely responsible for the demise of the premises and retailers' failure. For instance, some landlords restrict the placement and size of signs, forego or ignore needed maintenance and repairs, or rent adjacent retail spaces to incompatible or directly competing businesses.
Sometimes landlords lack the funds to maintain their properties. This study was conducted using survey method, and the sample was made up of Iranian agricultural entrepreneurs. The participants were assigned with proportionate stratified random sampling. Path analysis results showed that social networks was the most important determinant of entrepreneurial opportunity recognition with the highest direct effect 0.
Other factors influencing opportunity recognition included creativity, self-efficacy, prior knowledge and regulatory institution. Education influenced opportunity recognition indirectly through creativity, prior knowledge and social networks, and work experience influenced opportunity recognition indirectly through self-efficacy and social networks. Relevant theoretical and practical implications and contributions are discussed.
Keywords : Agricultural entrepreneurs; Entrepreneurial opportunity; opportunity recognition; Agribusiness; Iran. Reporting World Bank Enterprise Survey data on 3, formal enterprises from eleven countries in the Middle East and North Africa MENA region, and controlling for other determinants of firm performance as well as the endogeneity of the registration decision using the Heckman selection model, the finding is that unregistered firms at start-up witness lower sales and productivity growth but higher employment growth rates.
The effect of the registration decision on future performance thus depends on the performance indicator analysed. The theoretical implications are then discussed along with the limitations and future research required. Keywords : entrepreneurship; venture creation; business start-ups; informal economy; informal sector; development economics; economic development; firm performance; Middle East; North Africa.
There are, in the literature, tools developed for companies to retain customers who become demanding and rare. Very small craft enterprises VSE which are booming presently represent the next economy. However, the proprietors of such ventures, though mostly illiterate, have to adapt not only to the different stages for establishing long-lasting relationships with customers, but also to the necessary skills in the process. In this line, interviews were held with 25 groups of group-based VSE proprietors. The data collected shows that the process of customer retention follows three steps during which the owner-manager must develop skills and specific skills.
Keywords : customer loyalty; very small craft business; process; steps,skills. Common traits are related to: network effects, perceived skills, ability to spot opportunities, and self-confidence. We add cultural traits: ethnicity, beliefs about inequality and entrepreneurial status in society, and religion.
We conduct our analysis in the context of the Central American country of Guatemala, which is ethnically diverse. Within some limitations, we find that among cultural traits, ethnicity remains significant after using several checks. Keywords : entrepreneurship; Guatemala; GEM data; beliefs and the economy; culture and economics; economic inequality; entrepreneurial status; religion and entrepreneurship; culture and entrepreneurship; ethnicity and entrepreneurship. To analyse the relationship between the productivity of businesses and their perception of the prevalence of informal sector competitors, data is reported from a representative sample of 1, businesses in Bulgaria, Croatia and FYR Macedonia.
This reveals that businesses who assert that their competitors always or in most cases participate in the informal economy have significantly lower productivity growth rates compared with those who assert that their competitors do not participate in the informal economy. The implications for theory and policy are then discussed. Keywords : entrepreneurship; informal sector; productivity; firm performance; South-East Europe. In recent years interest in the importance of women entrepreneurship worldwide has increased, especially from the viewpoint of local and regional development.
Previous studies show that local competitors coordinated in networks can gain cross sector knowledge sharing and boost the attractiveness of a region. Using case study methodology with 14 qualitative semi-structured in-depth interviews in two phases with business counselors and women entrepreneurs, participatory observations and document studies, this study explores women entrepreneurs in smaller cities and their collaboration in networks with particular reference to a Swedish context. Results state that women entrepreneurs are active and participate in various local community networks and that networks are viewed as valuable assets for business development.
Women entrepreneurs strategically choose to join strong networks that have an impact on local community development. Challenges faced by women entrepreneurs are mainly related to the role as entrepreneur and running a business in a smaller city. However, some specific gendered challenges are lack of trust or respect from other business and public actors, especially in contact with authorities.
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The women entrepreneurs have mixed experiences of local community support hence the main sources for renewal processes and knowledge sharing are co-owners, staff, digital tools, networks partners, families and friends. All in all, the former survey have covered SEs operating in seven prominent socio-economic sectors involving diverse social settings within India.
Kruskal-Wallis test in conjugation with descriptive stats was employed to analyse the significant differences in the present study. The study found that out of 24 CSFs, the relative importance of eight outlined CSFs remarkably differs as per the type of legal structure, socio-economic sector and nature of revenue generation of the studied SEs.
Further, the analysis led to find the relative importance of the above eight significant factors for different types and nature of SEs under consideration. Alternatively, the study outcomes would enable the practitioners in weighing the contextual specificities while prioritizing the 24 formerly discovered CSFs. The findings simultaneously are expected to advance literature on S-ENT CSFs vis- Keywords : social entrepreneurship; social enterprise; critical success factors; strategic management; India; sustainability; demographics.
Although many studies have assessed the correlation between how a company performs financially and the gender diversity of its board, this research has tended to focus on larger companies and the results have been inconclusive. This paper will re-examine key elements of the existing discourse by focusing on a selection of small and medium-sized enterprises SMEs in France between and Panel data and the two-stage least squares 2SLS methodology was employed to assert empirical control over both the significance and direction of the correlation between the financial performance of an organisation and the diversity of its board.
Unlike the literature, in our study of French SMEs, we found no notable correlation between how a company performs financially and how diverse its board is in terms of gender. This paper will examine the benefits firms can access by ensuring the gender diversity of their respective boards. However, an inductive approach based on analysis of educational program experiences and outcomes has led to mixed conclusions about the appropriate scope and structure of entrepreneurship education. In contrast, we take a deductive approach to develop a comprehensive entrepreneurship education model based on concepts from two schools of philosophical thought: the Kantian debate about freedom versus determinism, and the Aristotelian concepts of praxis and po Keywords : entrepreneurship education; philosophy of entrepreneurship; entrepreneurial acting; entrepreneurship pedagogies; art and science of entrepreneurship; Aristotle; Kant.
These are characterised by "sliding" into vertical expansion, "skipping" from one business into an entirely different one, horizontal expansion by "scooping" up kindred functions, and "specialising" to exploit lucrative niches. This we call the 4S typology. The disadvantage of this exuberance is that most entrepreneurs remain in a disjointed state of skipping as they face competition from fellow imitators and absorption from exploiters.
Keywords : transition entrepreneurship; small business strategy; growth typology; Central Asia. However, their motivation to venture into entrepreneurship is not fully understood yet, especially in developing countries. Motivation literature suggests that push and pull theory could explain the phenomenon. Nevertheless, the distinction between the push and pull itself remains inconclusive. Therefore, this study attempts to verify the factors that motivate women to become entrepreneurs and confirm the differences between them. The study analyses the primary data collected from SMEs in Riyadh, and data was analysed quantitatively.
The results reveal that the pull factor is more dominant than the push factor in motivating women to participate in entrepreneurship. Demographic factors such as age, education, and type of business have some influence in stimulating them to become entrepreneurs. This study also confirms the elements for push and pull factors using exploratory factor analysis. So far, research has primarily relied on the assumption of homogeneity among hybrid entrepreneurs and that they all incur similar switching costs for entry into entrepreneurship during their lifetime. This paper considers self-employed individuals who engage in creating another business as a new type of hybrid entrepreneurs.
We argue that an individuals age affects the switching cost of entry into entrepreneurship in relation to an individuals occupation. We test our proposed framework on a Spanish dataset from the Global Entrepreneurship Monitor. Our findings show that an individuals age and occupation impact the switching costs of entry into entrepreneurship.
By employing multinomial logit regression analyses on a sample of SMEs, a major finding is that Artisans have much urge for informal credit compared to retailers whiles wholesalers prefer universal banks and non-bank financial institutions to informal source of credit. The study found that experience, business size, loan size and wholesale have positive relationship with universal bank whiles artisan has negative relationship with universal bank. Also, experience, business size and loan size were found to have positive relationship with non-bank financial institution whiles wholesale has negative relationship with non-bank financial institution.
The study recommends that universal banks should introduce artisans to group lending since they may not have collateral. Comparative Analysis of Trends and Characteristics. However, family business and family entrepreneurship are still under-researched subjects in the literature of economics and management in both developed and developing countries. Based on the study of management literature on family business, both in research and in practice, this article is an attempt to construct a theoretical framework to be used in a comparative empirical analysis of family businesses, their familial character in the context of different Vietnamese communities, at home and overseas.
As a result of research and analysis, similarities and differences of those family business groups are revealed to draw interesting conclusions and to propose recommendations for business environment and authority to help this specific kind of business activity to prosper and better perform in the future. Keywords : Family business; family entrepreneurship; Vietnam; Poland. Jammu and Kashmir Entrepreneurship Development Institute of India JKEDI as part of this series of institutions has been working comprehensively in making entrepreneurship a common phenomenon among the masses.
The purpose of this paper is to highlight the impact of entrepreneurial initiatives by the state government with the support of JKEDI towards the creation of new enterprises in Bandipora district of Jammu and Kashmir in India. Primary data has been collected with a structured schedule from new JKEDI sponsored entrepreneurs from the district.
Both qualitative and quantitative information was collected and analysed with simple statistical tools and analysis of the interview. The findings show that there is a positive impact of training, financial support and consultation for the overall development of entrepreneurship in both urban and rural areas of the district in particular and state as a whole. Evidence from U. Existing literature on the relationship between entrepreneurship and poverty is focused mainly on urban communities.
This study contributes to the literature by examining the effect of small business entrepreneurship on poverty rates across U. Our empirical results show that entrepreneurial activity employing less than 20 workers 0 to 19 is associated with lower poverty rates across the rural counties.
Findings on businesses that employ 20 to 99 workers did not appear to affect poverty during the study period. The results suggest that microenterprises play an important role in alleviating poverty in rural U. Keywords : entrepreneurship; poverty; small businesses; rural counties; U. Although familiness has been analysed from multiple perspectives, the role of family originated resources has still been neglected. Six cases of analysis revealed that five embedded resources of families are generative of familiness and able to develop capabilities for business.
We also found that different family natures generate two different business behaviours, i. This suggested that familiness may serve as a strategic resource to gain competitive advantages and it might help to maintain the core competency of businesses. Thus, this study aims to share our knowledge as feedback to the businesses for encouraging their socio-economic development and these findings offer benefits as human resources for businesses.
Keywords : family-owned business; familiness; resource; business behaviours; competitive advantages. Grounded in institutional theory, this asserts that formal institutional failures lead entrepreneurs to view participation in the informal sector as acceptable, which results in the prevalence of informal entrepreneurship.
The aim of this paper is to evaluate this social actor approach. Reporting the results of face-to-face interviews with a nationally representative sample of entrepreneurs in Croatia, this finds a significant association between entrepreneurs participation in the informal economy and the non-alignment of their views with the formal rules, and that the formal institutional failings significantly associated with the acceptability of informal entrepreneurship include their perception of poor quality public services, a lack of tax fairness, corruption and political instability.
Keywords : informal economy; shadow economy; underground economy; entrepreneurship; tax morale; institutional theory; transition economies; Croatia. Findings indicate Perus main drivers of its economic activities are the energy, agriculture and tourism industries. However, insufficient infrastructure, crime, corruption, poor education and poverty limit economic development. Opportunities for entrepreneurship exist through a diversified economy with a favourable business environment.
How to Start a Retail Business
Although current entrepreneurial activity is mostly concentrated in the retail, hotel and restaurant sector, there is potential to increase entrepreneurial activity within the main economic activities as foreign investments are expected to increase Perus export-driven industries. Because Perus government efforts to support entrepreneurship and entrepreneurship education have been stagnant in the last decade, we offer recommendations for policy makers to increase entrepreneurial activities based on training and motivation to improve business conditions that would promote and encourage entrepreneurial behaviour.
This objective was achieved through analyzing data for this group that was collected by Global entrepreneurship Monitoring GEM for Jordan in , and using descriptive, binary logistic regression and generalizing a comparison across years. Results revealed that individual perceptions followed by socio-cultural perceptions have the strongest effect on seniors intentions.
How to Start a Retail Business- cojobocile.tk
Choosing entrepreneurship as a good career choice has been revealed to have the weakest effect between all types of perceptions across years. This study presents new framework that described the relation between perceptions and intentions. It also proposes two new terms of entrepreneurship: Entrepreneurship the Dream and Golden Entrepreneurship, and recommends applicable solutions to boost them in Jordan. The paper aims also to reflect on the role of the father in a succession process where the founder is a mother.
Two longitudinal case studies from Italy and Spain are analysed. In both cases, the main character is a woman who founded a business and recently passed the leadership to her children. Results show that these women were able to effectively manage their double identities with positive effects for the succession process. Moreover, while in a traditional succession process, with a father as founder, the mother acts as mediator between incumbent and successor, in our cases the need for a third actor to act as a mediator disappeared and fathers had no role because a dyadic mother-children relationship emerged.
While there are studies recognising entrepreneurship as a key instrument in bringing in regional transformation and thereby development, very little insight has been provided to gain an understanding of solar entrepreneurship and its effect at regional levels. This research explores the community level impact of women led solar businesses by using an exploratory qualitative method and carrying out semi-structured interviews and participant observation on solar entrepreneurs in rural Odisha, India.
The paper offers empirical analysis from discussions led by thematic analysis method that introduces the varied impact of women led solar entrepreneurship on rural Odisha and how that is evidently realised at various levels as well as time scales. Keywords : solar entrepreneurs; renewable energy technologies; India; community empowerment; rural development; women entrepreneurs;. What determines self-employment profits?
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The study employs Ordinary Least Squares OLS regression to analyse the determinants of profitability, making efforts to correct for potential endogeneity and selection bias in the earnings function. Attempts to correct for endogeneity is made using the instrumental variables method as well as using lag values of potentially endogenous variables in the earnings model.
The findings point towards a significant influence of role models, capital constraints, human capital and the market environment on firm performance. However, social networks are not found to influence firm profitability significantly. Further, earnings are found to be significantly lower for female-headed firms and firms owned by socially-marginalized groups. Keywords : Self-employment; profits; endogeneity; human capital; social networks; credit constraints; caste; gender.
However, there is relatively little empirical evidence on its precursors. This study examines entrepreneurial orientation EO as a precursor to EA in small firms and the moderating influence of market orientation MO on that relationship. The theoretically developed research model is tested using the survey data of small manufacturing firms from the central region of Mexico. The results support a positive influence of EO on the components of EA concerning scanning and search, as well as evaluation and judgment, and indicate that the influence is stronger when MO is included under the conditions of a hypercompetitive environment.
Interestingly, EO and MO do not positively influence the association and connection component of EA unless a hypercompetitive environment is present. Keywords : entrepreneurial orientation; market orientation; hypercompetitive environment; entrepreneurial alertness; small firms. In the venture capital industry, a decision to invest in a new venture has emerged as a proactive measure where certain factors are directly or indirectly involved in the investment process. This study aims to determine the factors of the venture capital investment process that may influence the multi-criteria investment process of venture capitalists.
Firstly, we used the exploratory factor analysis to identify and analyse the consistency of several factors that may facilitate the adoption of multi-criteria decision-making MCDM techniques in an Indian venture capital industry. Secondly, fuzzy analytical hierarchal process FAHP , a most suited technique for MCDM to handle the fuzziness, vagueness and multi-dimensionality, was adopted to assign the weights and prioritise the pre-defined criteria and sub-criteria.
These findings indicate that venture capitalists investment decision does not emphasise solely on entrepreneurial activities, product and market; however economic and regulatory environment also plays a significant role in the venture capitalists investment decision-making process.
The priority weight of the factors such as entrepreneurs characteristics, economic environment, product and financial constraints facilitates the relative importance of the pre-defined factors. Based on these criteria, entrepreneurs may recognise their strengths in respective criteria before approaching a right venture. Using a case study approach, we interviewed respondents from 18 US family firms in diverse industries.
Respondents explained the importance of receiving assistance and guidance from both internal and external sources. We identified important types of needed information and external assistance sources. We generated four propositions from our study and noted the positive effect of close family ties and the negative effects of gender bias and family conflict. Keywords : family business; family firm; women; gender bias; conflict; assistance; networking; leadership; case study approach; qualitative.
It also assessed the effects of cultural practices on support received by the rural women entrepreneurs in Southwest and Southeast Nigeria. Concurrent mixed method, involving the use of quantitative and qualitative strands in a single phase was employed. Findings revealed that some forms of support system exist in both regions but the degree of access differs.
Results also showed that socio-cultural practices have great influence on women entrepreneurship development. As a result, most women are unwilling to encourage their children to take over current business ventures. Consequently, husbands in particular, are encouraged to de-emphasise cultural norms which hinder business transformation into family businesses for sustainable entrepreneurship growth, sustainable rural family economic empowerment and poverty reduction.
This research provides comparative baseline data for further study. Strategic symbiotic arrangements: how can contract breweries help change a local market into part of an integrated broader market? The evolution of the craft beer segment is paving the way to the development of different forms of organising in Brazil, such as contract brewing, designed for firms that do not own physical brewing facilities. This form of organising has several combinations, which vary according to the firms value proposition.
Contract brewing may be a reflection of open strategy practices, which affect both organisational structures and ownership forms. This research on the contract brewing business model attempts to advance our understanding of strategic symbiotic arrangements in this particular industry. After examining how contract breweries are operating in practice, we were able to group the business models key components into two different configurations Symbiotic and Transitional, whose main challenges are closely related to their interdependencies with a production partner and their interorganisational strategy.
Keywords : Symbiotic network; symbiotic arrangement; interorganisational strategy; strategic alliance; business model; open strategy; contract breweries. Based on papers related to female involvement in social entrepreneurship, there are some gaps within current literature that we tried to analyse.
Most research in social entrepreneurship is considered as blurry areas where a female is categorized as the other' type of entrepreneur. This condition is also occurring in Indonesia. Even if females are described in the literature, most researchers focus more on the physiological and psychological differences between male and female. Females are rarely being highlighted as the subject of change.
They were not seen as the change makers that have contributed more to the social values creation that emerged from their involvement in social entrepreneurship. The contested problems came from the Western point of view that has given some limitation to female empowerment in Indonesia. Therefore, we provide a new focus that emphasises the Eastern tradition to portrait how female involvement in social entrepreneurship may give more impact to the social value creation Keywords : Social entrepreneurship; female empowerment; social value creation; Indonesia.
This study aims to examine the complementary of different types of innovations with specific focus on SMEs in the Kosovo market. The empirical bases for this analysis are derived from 24 qualitative case studies from innovative SMEs in Kosovo, coming from service, manufacturing and trade sectors by using NVivo software. The majority of interviewed enterprises developed two innovations simultaneously, meaning that the introduction of one innovation led to the introduction of another one.
Product and process innovations are complementary in most of the cases, and the firm prefers a simultaneous adoption. Nevertheless, the findings show that in few cases, there is a combination of other types of innovations. The study takes a constructivist approach to explore the psychological link between daughters and family, illuminating the psychological processes behind a daughters acquisition of a high position in the family firm.
A multiple case study method is used to analyse the patterns of motivation of three groups of daughters in family businesses. Findings suggest that there are important differences in terms of extrinsic, intrinsic and ethical motivation among daughters that occupy different positions. These differences affect the way daughters interact with their business environment and how they justify themselves as leaders and viable successors. Thus, this research points to the specific motivational mechanisms that underlie career outcomes of daughters in family businesses.
Furthermore, the research indicates motivational synergies between intrinsic and ethical motivation that are important in the family business context. Keywords : family business; succession; gender; motivation; next generation career; women career progress. Aim: focused on women, this article investigates the qualities and attributes that family-owned businesses desire in a potential successor.
Methods: The study adopted a mixed research design that incorporated the use of quantitative and qualitative research methods. This paper is the outcome of quantitative data that was solicited and collected from participants using a semi-structured questionnaire. From a qualitative perspective, the article benefited from the open-ended questions that were embedded in the questionnaire. The Statistical Package for Social Sciences SPSS software was utilised to analyse that quantitative data and was complemented with the elements that were drawn from the qualitative data.
Results: The results suggest that the incumbents prefer the potential successor to have management skills; leadership skills; ability to relate well with other members of the family; show interest in becoming a successor, possess greater aptitude than other members of the family; understands the business vision, be trustworthy; be committed to the business; has management experience; must be related by blood or law and able to harmonise the interests of the family with those of the business.
Beutell, Jeffrey W. Alstete, Joy A. Schneer, Marianne M. Significant differences were found between generational groups of self-employed for most of the major study variables e. We also found that the study variables e. Limitations, implications, and directions for future research are discussed.
We deploy a combined model that helps to elucidate the process Le Breton-Miller, Miller and Steier and a typology developed by Bauer that helps to characterize the actors. Four attitudes are distinguished: belated independence, unconstrained independence, forced conservatism and agreed conservatism. Keywords : successor; predecessor; attitude; family business; succession role.
In a rapidly evolving economic environment, it is inevitable to adopt an integrated policy for presence in global markets. Although in recent years, the business environment has been characterised by the liberalisation of emerging nations and their increasing contribution to the global economy there are still some restrictive regulations that all international businesses need to comply with.
In this regard, export compliance is defined as a multidisciplinary and specialised framework, which supports enterprises in compliance risk management. This research aims to explore the essence of this phenomena in the international business economy and investigate the consequence of the failure to comply with the international regulations as the potential risk that firms might face in their global activities.
Similarly, this paper aims to explore the risk-taking practices of small ventures in Italy and Iran. The result of this study compares Italian versus Iranian businesses in regards to the concept of risk-taking and export compliance and introduces the context-based, universal and ineffective factors. Keywords : internationalisation; export compliance; risk-taking; Case study; Iran. The two models are applied on the Tunisian context. Our sample consists of companies operating in different industries, of which are 'performing' companies and are "failing" companies, observed over the period.
The results of the use of a battery of 87 ratios showed that 16 ratios can build the model and that liquidity and solvency have more weight than profitability and management in predicting distress. Despite the slight superiority of the results provided by the SVM model, on the control sample, the results provided by the two models are good either in terms of correct classification percentage or in terms of the stability of discriminating power over time and space.
Keywords : distressed firms; forecasting model; multivariate discriminant analysis; support vector machine. As a professional activity, entrepreneurship is defined by unique job characteristics particularly with regard to the experience of high passion, drive and spirit. Moreover, entrepreneurship is highly demanding in several domains and requires individual coping skills.
In such context, the sustainability of entrepreneurial activities requires physical and mental health and well-being of entrepreneurs. Yet, burnout is a rarely discussed topic in entrepreneurial research. Hence, burnout of entrepreneurs has to be examined within the realities of their multidimensional professional context, which is shaped by nature of entrepreneurial activity, work characteristics as well as entrepreneurs personality. This literature review systematically examines and critically analysis 23 quantitative and qualitative articles about burnout in the context of entrepreneurship.
Integrating the findings, we provide a research map for and thereby hope to stimulate further research to extend our knowledge about the challenging phenomenon of entrepreneurial burnout and its extensive consequences and implications. Keywords : entrepreneurship; entrepreneurial; burnout; stress; psychology. This study used various financial performance ratios of banks operating in different European countries to investigate if such relationship exists over five year period.
Before working on evaluating the systematic risk we need to know that in order to shape up the financial structure of any firm, the operating performance is of crucial importance. It is expected that the outcomes of this research are of importance both to investors as well as bank managers, as these findings will help them in fully analyzing the effects of various strategic choices keeping in view related to risk profile of banks.
Some implications of the potential policy which based on the new capital requirements in view of the risk-leverage relationship have also been discussed in this study. Keywords : Financial Risk; Business Risk; Profitability; Liquidity; systematic risk; financial performance; capital requirements; risk-leverage.
For the purpose of this empirical study two samples were used for both formal and informal SMEs in Kosovo. The logit models were employed to find out the impact of access to finance and institutional barriers on SMEs performance in both sectors. Findings indicate that access to finance and institutions affect the performance of SMEs in the formal and informal sector. Although, findings show that access to finance and institutional barriers affect the performance of formal SMEs more than informal ones.
The evidences show that formal SMEs outperform informal ones in terms of sales. Is entrepreneurship for everyone? Should we expect that we can teach entrepreneurship as a mandatory class? Or is it calling? Increasing the number of new ventures will only generate aggregate wealth if those who start firms are truly more productive as entrepreneurs. I just received a thank-you note from a student who attended a fireside chat I held at the ranch. Something I said seemed to inspire her:. Now I have a different perception. Entrepreneurs are the ones that make things happen.
That takes focus, diligence, discipline, flexibility and perseverance. They can take an innovative idea and make it impactful. Some of these world-class innovators get recruited by large companies like professional athletes, with paychecks to match. Others join startups to strike out on their own. Being a domain expert in a technology field rarely makes you competent in commerce. Building a company takes very different skills than building a neural net in Python or decentralized blockchain apps in Ethereum. Nothing makes me happier than to see my students getting great grades and as they can tell you, I make them very work hard for them.
Most great technology startups — Oracle, Microsoft, Apple, Amazon, Tesla — were built by a team led by an entrepreneur. Get the Podcasts for Free. Steve Blank. Email Subscription Enter your email address to subscribe to this blog and receive notifications of new posts by email. Join , other followers Sign me up! Entrepreneurship is a Calling See more how to Startup videos here. A version of this article appeared in the Harvard Business Review Elon Musk, Alfred Sloan, and entrepreneurship in the automobile industry.
Alfred Sloan became the President of GM and ran it for the next three decades. Perhaps Tesla now needs its Alfred P. Like this: Like Loading They found: Signaling. Signaling is a fancy academic term to describe how one party in this case someone who wants a job credibly conveys information to another party a potential employer. People choose to be entrepreneurs when they feel that they are more capable than what employers can tell from their resume or an interview.
Better Pay. Less Predictable Pay. But the downside of being an entrepreneur is that as a group their pay is more variable — some make less than if they worked at a company, some much more. Entrepreneurs score higher on cognitive ability tests than their educational credentials would predict. And their cognitive ability is higher than those with the same educational and work credentials who choose to work in a company. Immigrants and Funding. Signaling or the lack of it may explain why some groups such as immigrants, with less credible signals to existing companies unknown schools, no license to practice, unverifiable job history, etc.
Entrepreneurs defer getting more formal education because they correctly expect their productivity will be higher than the market can infer from just their educational qualifications. There are no signals for entrepreneurial skills. Lessons Learned Entrepreneurship is a calling, not a job. A calling is something you feel you need to follow, it gives you direction and purpose but no guarantee of a paycheck.
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