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Research on general market entry usually focuses on large enterprises. Often, however, small entrants can alter the competitive dynamics of an industry. This volume brings together the most prominent thought leaders and the best research on the asymmetric entrant-incumbent dynamics. The ideas presented offer a more nuanced perspective on how, when, where and with what consequences small, single-product firms enter markets that are dominated by large, multiproduct and multimarket incumbents. Large enterprises often enjoy a number of advantages that young, small ventures (as well as matured, but still small firms) lack. These differences manifest not only in how large and small firms operate and in their resource-capability mix, but also in how they compete and interact with each other. Research on general market entry and competitive dynamics is extensive yet it focuses on entrants and incumbents that are of similar profile - similar size, comparable asset mixes, related product strategies, and equivalent organizational capabilities. The unique contribution of this volume is its concentration on asymmetric entrant-incumbent dynamics. Scholars and students in entrepreneurship, strategy, international business and related fields will find this excellent collection of key published and original material illuminating.
This book develops a general theory of managerial decision making on the basis of a few elementary postulates. It employs logic as the method of reasoning, systems science in general and the systemic YoYo Model in particular, as the intuitive playground. By doing so, the authors take individually background-based guesswork out of processes of decision making. All established conclusions are expected to be generally employable in real-life applications. At the same time, the book is user friendly to a wide range of audience, coincides with people's intuition, and provides applicable results and insights for practical purposes.
This paper studies the macroeconomic effect and underlying firm-level transmission channels of a reduction in business entry costs. We provide novel evidence on the response of firms' entry, exit, and employment decisions. To do so, we use as a natural experiment a reform in Portugal that reduced entry time and costs. Using the staggered implementation of the policy across the Portuguese municipalities, we find that the reform increased local entry and employment by, respectively, 25% and 4.8% per year in its first four years of implementation. Moreover, around 60% of the increase in employment came from incumbent firms expanding their size, with most of the rise occurring among the most productive firms. Standard models of firm dynamics, which assume a constant elasticity of substitution, are inconsistent with the expansionary and heterogeneous response across incumbent firms. We show that in a model with heterogeneous firms and variable markups the most productive firms face a lower demand elasticity and expand their employment in response to increased entry.
Will America's entrepreneurial spirit continue to define its destiny? What can the rest of the world learn from America's experience? In Launchpad Republic: America's Entrepreneurial Edge and Why it Matters to All of Us, Howard Wolk and John Landry provide an insightful and thought-provoking history of entrepreneurship in the United States, with a focus on the political, legal, and cultural forces that have sustained "creative destruction" and propelled the country forward for more than 200 years. In telling this story, the book highlights the critical features that have set America apart from other countries and identifies the key attributes necessary for it to maintain leadership for years to come. Entrepreneurship is a rebellious act, and America's democratic system is unique in enabling new companies to challenge established ones. As a result, the country enjoys not just more robust start-up activity, but also a dynamism that forces big companies to improve—or face the consequences. It protects both property rights and the right to compete in ways not enjoyed elsewhere, encouraging investment and innovation. Aside from assessing how American entrepreneurial capitalism unfolded, the authors address current challenges such as the rise of the "Big Tech", concerns about inequality, inclusivity and sustainability, and the evolution toward stakeholder capitalism. They compare the American approach to both Continental Europe's consensus-oriented framework and China's authoritarian model. Launchpad Republic offers readers: Insights into how America's political, legal and cultural history helped make the country the most dynamic economy in the world since inception A framework for understanding how the country's balanced and limited government, decentralized financial and corporate system, and responsiveness to consumers all served to enable innovation and improved standard of living while avoiding many of the pitfalls of cronyism and protectionism Fascinating comparisons between the United States and other countries, both historical and contemporary, that provide important context to many of today's critical issues A book that covers important topics in an easy to read style, Launchpad Republic belongs in the library of every policy wonk, capitalist, entrepreneur, founder, business leader, amateur historian, and technologist with an interest in how America's relentless entrepreneurial spirit has influenced—and will influence—its destiny.
Academic entrepreneurship is a multifactorial and multidimensional phenomenon. This book presents research featuring aspects of academic entrepreneurship at the regional, institutional, and organizational levels of analysis. Phillip H. Phan and the authors illustrate that the more interesting aspects of this subject are in the ‘tails of the distribution,’ where counter-intuitive findings from the data call simple theories into question and inspire a vigorous discussion of alternatives. This edited collection covers a variety of topics including, but not limited to: • corporate governance of innovation • technology commercialization in pharmaceuticals and life sciences • institutional impediments to technology development and economic growth • economic impact of universities • academic labor markets and technology commercialization • translational research and development • technology commercialization in regenerative medicine. The contributors also consider the relative value of general versus specific human capital development and the implications for entrepreneurship and wealth creation. The audience for this book comprises PhD students, new scholars in technology commercialization research, university technology transfer office personnel, economic development specialists and policymakers, and students studying the management of technology.
Scholars and policy makers have long recognized entrepreneurship as a powerful engine of economic growth. There is clear evidence, however, that when it comes to social entrepreneurship, policy attention has not been matched by growth in scholarly rese
The rapid and formative rise in research on social innovation and entrepreneurship means that theoretical frameworks are still being created, while traditional notions of economic efficiency and social welfare are tested. The field is progressing fastest in the measurement and measuring of social entrepreneurial effectiveness. Social innovators, who draw from philanthropy, as well as capital markets, for financial resources, have adopted the lean start up as a paradigm for their organization logics.
This book is an effort to provide a “primary source”, a guide for Chinese/American cross-cultural negotiations, which has been constructed and amassed by professionals living and working in China. Research included personal interviews, surveys, case studies, face-to-face negotiations, and consulting, melded with a broad body of international business. This book that has two focuses, China market entry and negotiations, Both China and the United States are vast, complex markets, with different histories and cultures. China market entry requires extensive research and understanding, of the inextricably linked elements of (a) how business is managed in China, (b) understanding the China market, and (c) negotiating all elements of your China market entry and ongoing business. To be successful in China, your firm will face these elements in terms of explicable and solvable activities. Research into data, theory, and perceptual cultural differences between your firm and your Chinese counterparts adds magnitude to your China overall business strategy, and mandatory and essential negotiations.
This second edition of a classic reference work, written by some of the most eminent academics in the field, contains over 30 per cent more entries on entrepreneurship. Comprehensive in scope, it includes topics from business angels, to export services to family business and uncertainty and venture capital. There are also entries on individuals including George Eastman, Howard Hughes, Joseph Schumpeter and Walt Disney. Providing its readers with a unique point of reference, as well as stimulus for further research, this Encyclopedia is an indispensable tool for anyone interested in entrepreneurship, particularly students, scholars and researchers.
The scope and depth of family business research have been quickly expanding in the last two decades. The editors and contributors to this book present eight recent studies examining the impact of external or internal family conditions on the innovation, growth, and succession of family firms in Asia.