Firing on all cylinders: Configuring information technology around the constituents of corporate entrepreneurship to outperform in SME sector

This study has examined how small and medium enterprises (SMEs) may enhance their performance under different settings of information technology (IT) capabilities and corporate entrepreneurship (CE). Established on the dynamic capability view, the researchers have analyzed the connections between IT capabilities and CE, in addition to the performance results of SMEs. The research has explored these novel relationships by utilizing partial least square-structural equation modeling (PLS-SEM) with a data sample of 447 SMEs of the manufacturing sector in Pakistan. The findings present that IT capabilities positively influence the market and financial performance of SMEs through the mediating role of CE dimensions. The study uniquely determines the mediating role of dimensional effects of corporate entrepreneurship between IT capabilities and performance outcomes of firms. Thus, the study would enable the management of SMEs to realize the potential of IT-related CE dimensions and their use to improve firms' performance.

Dynamic capabilities, value creation and value capture: Evidence from SMEs under Covid-19 lockdown in Poland

Dynamic capabilities, resulting from activities that allow conscious and skillful modification of a firm's strategic potential, are seen as one of the key drivers of a firm's value creation, competitive advantage and above-average performance in changing environments. However, little is known about how dynamic capabilities can shape business survival and performance during crises. The research objective of this paper is twofold. First, through a literature review, we seek to identify which first-order dynamic capabilities-managerial decisions under uncertainty-are vital for rapid response to a crisis. Second, we present the results of research carried out among 151 small and medium-sized companies in Poland immediately after the beginning of the economic lockdown (April 2020). The survey that we developed identifies which dynamic capabilities were essential for businesses to survive during this unexpected black swan event. We also present dependence and regression analyses showing the links between the identified dynamic capabilities and value creation, understood as retaining employees and production levels, as well as value capture, understood as maintaining cash flow and current revenues.

Evasive entrepreneurship: Circumventing and exploiting institutional impediments for new profit opportunity in an emerging market

Evasive entrepreneurship (circumvention and exploitation of institutions by entrepreneurs) is a prevalent practice in many developing economies. Extant literature on the topic falls short of providing adequate theories to explain its triggers, mechanisms, and consequences. Leveraging extensive survey data from the World Bank, we used structural equation modeling to examine the relationship between evasive entrepreneurial behavior-tax evasion and bribery-and the relative payoff of such practices. Of the 2599 Nigerian entrepreneurs in our sample, the majority admitted to engaging in evasive entrepreneurship. The data suggest that institutional factors thought to constrain entrepreneurship in emerging markets are counter-intuitively perceived by founders as opportunities to earn large rents and improve firm performance. Our results emphasize the urgent need to eliminate institutional constraints that paradoxically enable the growth of evasive entrepreneurship in emerging economies. Our results also suggest that prevailing local conventions involving evasive behavior may motivate nascent entrepreneurs to imitate bribery and tax evasion, normalizing malfeasance as 'best practice.'

Identifying environmental and economic development factors in sustainable entrepreneurship over time by partial least squares (PLS)

This study analyses the impact of environmental and economic factors consolidation on sustainable entrepreneurship over time. A model is proposed that analyses the relations between these factors and sustainable entrepreneurship over time with sustainable development goals performances and the continuation of the businesses index as variables. Using data from 50 countries, a quantitative method based on partial least squares was applied to validate the proposed model. Our findings showed positive and significant relations between environmental and economic factors with sustainable entrepreneurship over time. This implies that the countries which invest more efforts to consolidate their economic and environmental factors obtain higher durability rates for their sustainable entrepreneurship.

Association of the Meaningful Use Electronic Health Record Incentive Program With Health Information Technology Venture Capital Funding

Importance

Although the Health Information Technology for Economic and Clinical Health (HITECH) Act has accelerated electronic health record (EHR) adoption since its passage, clinician satisfaction with EHRs remains low, and the association of HITECH with health care information technology (IT) entrepreneurship has remained largely unstudied.

Objective

To determine whether the passage of the HITECH Act was associated with an increase in key measures of health care IT entrepreneurship.

Design, Setting, and Participants

This economic evaluation of venture capital (VC) activity in the US from 2000 to 2019 examined funding trends in health care IT, EHR-related companies, and all VC investments before and after the passage of HITECH. A difference-in-differences analysis compared investments in health care IT companies with those of companies in 3 categories: general health care (non-IT), IT (non-health care), and all US VC transactions. Data were analyzed from September 2018 to August 2019.

Exposures

Venture capital funding received by US companies before and after the HITECH Act.

Main Outcomes and Measures

Venture capital investment in health care IT companies and the proportion of those investments going to seed-stage companies, a proxy for very early-stage entrepreneurship and innovation.

Results

The data included 70 982 investments, of which 9425 (13.3%) were seed stage, 10 706 (15.1%) were early stage, and 50 851 (71.6%) were growth stage. After passage of the HITECH Act, investment in both health care IT companies and EHR-related companies increased at a rate much faster (13.0% and 11.4%, respectively) than VC as a whole (6.9%). In addition, the proportion of investments going to seed-stage health care IT companies increased compared with both overall VC investments and non-IT health care investments. Health care IT companies saw increased probabilities of transactions being seed-stage of 5.1% (SE, 2.2%; 95% CI, 0.8% to 9.3%; P = .02) compared with the entire sample of VC transactions and 13.6% (SE, 1.9%; 95% CI, 9.9% to 17.2%; P < .001) compared with non-IT health care VC transactions. Health care IT had essentially 0 increased probability of a transaction being seed stage compared with IT companies outside health care (-0.8% probability; SE, 2.4%; 95% CI, -5.4% to 3.9%; P = .75).

Conclusions and Relevance

Although widespread clinician dissatisfaction with EHR systems remains a challenge, the HITECH Act's incentive program may have catalyzed early-stage entrepreneurship in health care IT, suggesting an important role for incentives in promoting innovation.

The impact of the inclusive financial development index on farmer entrepreneurship

Based on the calculation of the inclusive financial development level of 22 provinces and 4 municipalities in China from 2004 to 2017, this paper uses the Kernel density estimation method to further analyze the evolution of the inclusive financial index. Based on the above analysis, we make empirical analysis of the impact of China's inclusive financial inclusion development index on farmers' entrepreneurship using static panel and dynamic panel estimation method. The empirical conclusions show that there are certain differences in inclusive financial inclusion development level in various provinces in China. Improving the inclusion development level of inclusive finance can better promote farmers' entrepreneurship. Urbanization level, economic openness and regional economic development level have a significant positive effect on farmers' entrepreneurship, while farmers' income and education level have a significant negative effect on farmers' entrepreneurship. It is possible to promote farmers' entrepreneurship by improving the inclusive development level of inclusive finance, combining urbanization, increasing government investment in productive fixed assets, increasing economic openness and improving regional economic development.

Reluctant entrepreneurs: musicians and entrepreneurship in the 'new' music industry

Changing labour conditions in the creative industries - with celebrations of autonomy and entrepreneurialism intertwined with increasing job insecurity, portfolio careers and short-term, project-based contracts - are often interpreted as heralding changes to employment relations more broadly. The position of musicians' labour in relation to these changes is unclear, however, given that these kinds of conditions have defined musicians' working practices over much longer periods of time (though they may have intensified due to well-documented changes to the music industry brought about by digitization and disintermediation). Musicians may thus be something of a barometer of current trends, as implied in the way that the musically derived label 'gig economy' is being used to describe the spread of precarious working conditions to broader sections of the population. This article, drawing on original qualitative research that investigated the working practices of musicians, explores one specific aspect of these conditions: whether musicians are self-consciously entrepreneurial towards their work and audience. We found that, while the musicians in our study are routinely involved in activities that could be construed as entrepreneurial, generally they were reluctant to label themselves as entrepreneurs. In part this reflected understandings of entrepreneurialism as driven by profit-seeking but it also reflected awareness that being a popular musician has always involved business and commercial dimensions. Drawing on theoretical conceptions of entrepreneurship developed by Joseph Schumpeter we highlight how the figure of the entrepreneur and the artist/musician share much in common and reflect various aspects of romantic individualism. Despite this, there are also some notable differences and we conclude that framing musicians' labour as entrepreneurial misrepresents their activities through an overemphasis on the economic dimensions of their work at the expense of the cultural.

Does farmer entrepreneurship alleviate rural poverty in China? Evidence from Guangxi Province

In recent years, entrepreneurship has been gaining more prominence as a potential tool for solving poverty in developing countries. This paper mainly examines the relationship between farmer entrepreneurship and rural poverty alleviation in China by assessing the contribution of farm entrepreneurs towards overcoming poverty. Data were collected from 309 employees of farmer entrepreneurships in Guangxi Province through survey questionnaires. Structural equation modeling was used to conduct an analysis of the effects of three identified capabilities of farm entrepreneurs-economic, educational and knowledge, and socio-cultural capabilities-on attitude towards farmer entrepreneurship growth and the qualitative growth of farmer entrepreneurship and how these in turn affect rural poverty, using AMOS 21. The findings show that socio-cultural capability has the greatest influence on farmer entrepreneurship growth (β = 0.50, p<0.001). The qualitative growth of farmer entrepreneurship also more significantly impacts rural poverty (β = 0.69, p<0.001) than attitude towards farmer entrepreneurship growth. This study suggests that policy makers in China should involve more rural farmers in the targeted poverty alleviation strategies of the government by equipping rural farmers with entrepreneurial skills. This can serve as a sustainable, bottom-up approach to alleviating rural poverty in remote areas of the country. The study also extends the literature on the farmer entrepreneurship-rural poverty alleviation nexus in China, and this can serve as a lesson for other developing countries in the fight against rural poverty.

Special report: The Transformation Imperative: Hospital-based venture funds bet big on health startups

Health systems have muscled into the venture capital space to support innovations that will help them thrive under value-based reimbursement.

[Integral financing stifles innovation: consequences of the new form of financing for specialists]

Of the 22,800 Dutch medical specialists, 43% are self-employed, which involves various tax benefits. In 2015 an important change took place. In the past, specialists declared their services independently from the hospital, which impeded process adjustments. Although this gives the impression of improvement, it is not, mainly because specialists are organized separately from the hospital organization. In addition, specialists are not entrepreneurs, which means that they avoid risks and uncertainty. The complex situation that has arisen is further complicated by fuzzy implementation that lacks an overall plan. For the individual specialist, the situation is unclear. The specialists consider necessary renewals and innovations to be irresponsible risks. This creates a cautious attitude and inertia. To achieve improvement, government and policy-makers should set clear rules and health insurers should value good governance. This protection would allow specialists and hospital boards to balance medical content and finance.

Do men need empowering too? A systematic review of entrepreneurial education and microenterprise development on health disparities among inner-city black male youth

Economic strengthening through entrepreneurial and microenterprise development has been shown to mitigate poverty-based health disparities in developing countries. Yet, little is known regarding the impact of similar approaches on disadvantaged U.S. populations, particularly inner-city African-American male youth disproportionately affected by poverty, unemployment, and adverse health outcomes. A systematic literature review was conducted to guide programming and research in this area. Eligible studies were those published in English from 2003 to 2014 which evaluated an entrepreneurial and microenterprise initiative targeting inner-city youth, aged 15 to 24, and which did not exclude male participants. Peer-reviewed publications were identified from two electronic bibliographic databases. A manual search was conducted among web-based gray literature and registered trials not yet published. Among the 26 papers retrieved for review, six met the inclusion criteria and were retained for analysis. None of the 16 registered microenterprise trials were being conducted among disadvantaged populations in the U.S. The available literature suggests that entrepreneurial and microenterprise programs can positively impact youth's economic and psychosocial functioning and result in healthier decision-making. Young black men specifically benefited from increased autonomy, engagement, and risk avoidance. However, such programs are vastly underutilized among U.S. minority youth, and the current evidence is insufficiently descriptive or rigorous to draw definitive conclusions. Many programs described challenges in securing adequate resources, recruiting minority male youth, and sustaining community buy-in. There is an urgent need to increase implementation and evaluation efforts, using innovative and rigorous designs, to improve the low status of greater numbers of African-American male youth.

Prospects of apicultural entrepreneurship in coastal districts of eastern India: a melissopalynological evaluation

A melissopalynological analysis of fifty-one natural honey samples (twenty four spring, fifteen summer and twelve winter) collected during 2010–2011 from two east-coastal districts (20⁰20^/ to 22⁰11^/ N, 82⁰39^/ to 87⁰01^/ E) of Orissa, India was performed. Out of 37 unifloral samples found 25 were contributed by Apis cerana indica, seven by A. dorsata and the remaining five by A. florea. Out of 14 multifloral samples five were contributed by A. cerana indica, five by A. dorsata and the remaining four by A. florea. Principal component analysis confirmed the palynological classification of the unifloral honey samples. Eighty-two bee-plant taxa belonging to forty four families were recovered. The predominant nectariferous taxa of the spring season were Acanthus ilicifolius, Avicennia marina, Bruguiera gymnorrhiza, Cocos nucifera, Eucalyptus globulus, Phoenix paludosa, Pongamia pinnata, Prosopis juliflora, Sonneratia apetala and Syzygium cumini. In the summer the predominant nectariferous taxa were Borassus flabellifer, C. nucifera, E. globulus, Syzygium cumini, Terminalia arjuna, Aegiceras corniculatum, P. paludosa and Sonneratia apetala while those of the winter were Brassica nigra, Coriandrum sativum, Zizyphus jujuba, Alstonia scholaris, E. globulus and Bruguiera gymnorrhiza. Very low (<0.09) HDE/P for 98% of the samples and absence of toxic palynotaxa assure that these honeys are suitable for human consumption. Quite extended honey flow period with spring and summer as best forage seasons for the honeybees and occurrence of 82% of these honeys with APC Group II, III and IV justify the sustainability of the present study area for establishing moderate to large-scale apicultural entrepreneurship. This should improve the socio-economic status of the people of this region.

[The fiscal position of medical specialists]

Independent medical specialists in the Netherlands are treated as entrepreneurs for tax purposes and therefore enjoy tax benefits. A change in the legal relationship between medical specialists and hospitals is foreseen in 2015. Independent medical specialists will then no longer be considered to be entrepreneurs. This could negatively affect their tax position. The Dutch government has adopted a policy aimed at controlling expenses arising from medical specialists' fees. According to this policy, the formation of regional practices or mega-practices of specialists will be discouraged. In contrast, the current fiscal legislation encourages medical specialists to incorporate their practice into regional practices or mega-practices or to become shareholders of their hospitals. It has been proposed that fiscal benefits be linked to certain aspects of entrepreneurship, such as investing in medical equipment or employing medical personnel.

Business dealings with a patient: money never sleeps

Mr M.O. Gul returned for his postoperative visit today after you successfully repaired a leaking abdominal aortic aneurysm. Mr Gul owns most of the cable networks in the state, making him a billionaire. He realizes that he met the bearded reaper and walked away because of your skills. He is pioneering a new technology that will make current Wi-Fi obsolete. Unexpectedly, he offers you the opportunity to invest with the expectation of huge returns. M.O. personally guarantees you will not lose money. What should you do? A Invest. No questions asked. B Do not invest. It is unprofessional. C Do not invest without consulting with your attorney. D Do not invest. You have already been paid for services rendered. E Invest provided you forego future medical relationships with M.O. as the attending physician.

Policy entrepreneurship in the development of public sector strategy: the case of London health reform

The development of health policy is recognized as complex; however, there has been little development of the role of agency in this process. Kingdon developed the concept of policy entrepreneur (PE) within his ‘windows’ model. He argued inter-related ‘policy streams' must coincide for important issues to become addressed. The conjoining of these streams may be aided by a policy entrepreneur. We contribute by clarifying the role of the policy entrepreneur and highlighting the translational processes of key actors in creating and aligning policy windows. We analyse the work in London of Professor Sir Ara Darzi as a policy entrepreneur. An important aspect of Darzi's approach was to align a number of important institutional networks to conjoin related problems. Our findings highlight how a policy entrepreneur not only opens policy windows but also yokes together a network to make policy agendas happen. Our contribution reveals the role of clinical leadership in health reform.

Scientific entrepreneurship in the materials and life science industries

Scientists constantly generate great ideas in the laboratory and, as most of us were meant to believe, we should publish or perish. After all, what use is a great scientific idea if it is not shared with the rest of the scientific community? What some scientists forget is that a good idea can be worth something - sometimes it can be worth a lot (of money)! What do you do if you believe that your idea has some commercial potential? How do you turn this idea into a business? This chapter gives the aspiring scientific entrepreneur some (hopefully) valuable advice on topics like choosing the right people for your management team, determining inventorship of the technology and ownership shares in the new company, protecting your intellectual property, and others; finally, it describes some of the various pitfalls you may encounter when commercializing an early stage technology and instructions on how to avoid them.

Alchemy in eden: entrepreneurialism, branding, and food marketing in the United States, 1880–1920

Through an investigation into the origins of American food marketing, this dissertation reveals how branding—specifically, the centennial brands Quaker Oats, Coca-Cola, and Crisco—came to underpin much of today's market-driven economy. In a manner akin to alchemy, the entrepreneurs behind these three firms recognized the inherent value of an agricultural Eden, then found ways to convert common, low-cost agricultural goods—oats, sugar, and cottonseed oil—into appealing, high-revenue branded food products. In the process, these ventures devised new demand-driven business models that exploited technology and communications advances, enabling them to tap a nascent consumer culture. Their pioneering efforts generated unprecedented profits, laid the foundation for iconic billion-dollar brands, and fundamentally changed how Americans make daily food choices.

Hospitality, culture and regeneration: urban decay, entrepreneurship and the "ruin" bars of Budapest

This paper considers the relationships between hospitality, culture and urban regeneration through an examination of rom (ruin) venues, which operate in dilapidated buildings in Budapest, Hungary. The paper reviews previous work on culture and urban regeneration in order to locate the role of hospitality within emerging debates. It subsequently interrogates the evolution of the rom phenomenon and demonstrates how, in this context, hospitality thrives because of social and physical decay in urban locations, how operators and entrepreneurs exploit conflicts among various actors involved in regeneration and how hospitality may be mobilised purposefully in the regeneration process. The paper demonstrates how networked entrepreneurship maintains these operations and how various forms of cultural production are entangled and mobilised in the venues' hospitality propositions.

Appropriating social citizenship: women's labour, poverty, and entrepreneurship in the manual workers union of Botswana

Interrogating critiques of the 'African labour aristocracy' thesis, the article proposes that public service industrial-class manual workers in Botswana form, if not a labour 'aristocracy' in the sense first defined by Saul and Arrighi, then a marginal worker 'elite'. They are privileged in having a regular salary above minimum pay, augmented by periodic lump-sum gratuity payments. This sets them apart from the other low-paid workers in the private sector, casual workers in the informal economy and a vast army of unemployed job seekers. In the absence of a national unemployment benefit scheme in Botswana, the article explores some of the strategies deployed by women members of the Manual Workers Union in their attempts to contend with the spectre of future unemployment and impoverishment. In gender terms, the article highlights the independence, autonomy and decision-making capacity of women trade unionist leaders, who straddle the worlds of workers' rights and citizens' rights, and manoeuvre their way through the maze of rules and regulations they encounter in both.

An empirical analysis of health care IPOs and SEOs

This article reviews the extant literature regarding the three new issues phenomena: hot issue markets, first-day underpricing, and poor long-run performance as they apply to the heath care industry. Given the "creeping corporatization" of the heath care industry and the unique influence of nonmarket forces on it, we examine whether the three IPO phenomena exist within the industry. We find that hot issue markets, initial underpricing, and negative long-run abnormal returns and sales growth occur among both heath care IPOs and SEOs. Of particular interest, we find that firms are able to issue during times of excess heath care spending and subsequently underperform the market, apparently exploiting windows of opportunity.

Other ways of financing your company

The public markets aren't what they used to be and venture capitalists are seeking investments with shorter timelines. But the good news is several new sources of financing are becoming available.

The German MedTech industry in 2007

As innovation activity remains high on the industry's agenda, it is calling fora renewed focus on the economics of health care.

Medical entrepreneurism: the current opportunity in America

This article discusses both the current climate for entrepreneurial activity in the fields of biotechnology, health care services, and medical devices as well as key ideas in the process of successful innovation. Basic issues related to the nature of new medical ventures and its importance in the U.S. economy are discussed. A stepwise overview of the process of innovation is provided, starting from the initial idea, through the early and middle stages of growth, and on to an initial public offering or other alternative harvest strategy. The roles of financing sources in generating health care entrepreneurial activity are explored, and the advantages and disadvantages of each are discussed. The article focuses on venture capital investment because of its pivotal role in high-profile successes; however, alternative forms of financing are also covered as appropriate to each stage. In addition, critical nonfinancial issues that affect the success of new enterprises, such as intellectual property protection and the creation of management teams for young companies, are also covered. The magnitude of current investment in the domestic biomedical field is addressed, and future prospects for American medical innovation are briefly discussed.

Overregulation of conflicts hinders medical progress

The revolution in medicine and technology over the past few decades is largely the result of partnerships--or a "harmony of interests"--between private companies and entrepreneurial scientists and clinicians. Regulations to prevent conflicts of interest by restricting medical education, medical research, expert advisory functions, or researcher ownership of inventions may have the unintended consequence of slowing medical progress.

Innovation and industry-academia interactions: where conflicts arise and measures to avoid them

Every phase of the development of biopharmaceuticals and medical devices has the potential for conflict of interest, but adherence to established rules and practices throughout product development can eliminate the possibility of conflicts. Adherence to good practices should continue through the postmarketing period, with swift reporting and vigorous investigation of any safety concerns. Although some academic medical centers are restricting interactions between their faculty and industry to prevent possible conflicts in physician education about new products, industry and academia should look for new ways to come together in mutually agreed forums that focus on educating clinicians about new products in an efficient, transparent way.

Fostering innovation without compromising integrity

Industry's interaction with academia has created vast opportunity for innovation but also the potential for undue financial influence. Potential conflicts of interest can occur at the level of the individual researcher or the institution. Implementing guidelines and policies on conflicts of interest can help maintain appropriate separation between academic medicine and industry while permitting medical innovation to proceed. In an effort to retain public trust, Stanford University School of Medicine has enacted policies to identify and manage potential conflicts among its faculty, to divest of holdings in companies conducting studies involving Stanford investigators, and to ban all industry marketing and gifts from Stanford facilities.