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.

Shifting entrepreneurial landscape and development performance of water startups in emerging water markets

Emerging technologies have driven the rise of many water-related startups and created new opportunities in water markets. The global water crisis could be mitigated by applying innovative technologies, sound water management decisions, and successful business models, and it is essential to better understand the status and future trends of emerging water markets. This study aims to discover shifts in the entrepreneurial landscape and evaluate water startups' development performance for the sustainable development of emerging water markets. We collected and analyzed data including the founding date, service area, service provided, details of funding raised, revenues, and consumer responses on 132 water startups founded between 2008 and 2018 in California, USA. Our results indicated that municipal area dominated the emerging water startup market compared to agricultural and industrial areas, and that many of the services provided shifted from conventional technologies to digital technologies. Though digital water startups' current revenues were relatively low, digital techniques applied in the water industry exhibited the good potential to promote public health and water saving. The development trends and performance of water startups enlighten the technological and commercial revolutions in the emerging water market, and provide guidelines for the decision-making in relevant stakeholders in the scientific, governmental, and industrial communities.

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.

The relationship of personality traits and entrepreneurship tendencies with career adaptability of nursing students

PURPOSE

This study was performed to reveal the relationship of nursing students' personality traits and entrepreneurship tendency with career adaptability.

METHOD

This descriptive and correlational study's sample consisted of the junior and senior students in the nursing faculty of a state university in Istanbul (n = 265). The data was collected using the Student Information Questionnaire, Career Adapt-Abilities Scale, Ten Item Personality Inventory, and Scale of University Students Entrepreneurship. Descriptive tests and Pearson's correlation analysis were used for data analysis. Multiple linear regression analysis was used to determine the variables that affect the career adaptability of nursing students.

RESULTS

The mean points on the personality inventory sub-dimensions of nursing students were highest in conscientiousness (5.72, SD 1.29) and lowest in emotional stability (4.46, SD 1.33). The mean on the Scale of University Students Entrepreneurship was 135.2 (SD 19.50) and on the Career Adapt-Abilities Scale was 78.7 (SD 9.05). The significant relationship between the personality traits, entrepreneurship tendency, and career adaptability scores of the students was weak and moderate. The regression model used to determine the variables that affect the career adaptability of nursing students was significant. Of the variables in the model, entrepreneurship tendency and being a fourth-year student significantly influenced the total score on career adaptability.

CONCLUSION

The results showed a correlation between personality traits and career adaptability. In addition, there is a positive correlation between entrepreneurship tendency and career adaptability. The students with high entrepreneurship tendencies have better career adaptability. The results suggest that nursing education should improve entrepreneurial and intrapreneurial traits by considering the personality traits of students in order to ensure their adaptation to the nursing profession.

The entrepreneurship of survival among urban adults experiencing homelessness and mental illness

AIMS

Using an entrepreneurship lens, this study examined the narratives of urban adults experiencing homelessness and living with mental illness, to explore strategies used for day-to-day survival.

METHODS

Semi-structured qualitative interviews were conducted with 14 females, 30 males, and one individual identifying as "other," living in a mid-sized Canadian city. The average age was 39 years. Data were transcribed verbatim and analyzed using thematic analysis informed by grounded theory.

FINDINGS

Participants described creative and intentional strategies for managing life on the street without permanent shelter, including recognition of opportunities, mobilization of their own or acquired resources, and use of social connections and communication skills, and strategies that demonstrated entrepreneurial processes.

CONCLUSIONS

Findings suggest that participants used survival entrepreneurship strategies and processes to navigate daily life while experiencing homelessness. Recognition and validation of the propensity for enterprise and self-sufficiency are central for both individual recovery and ending homelessness within similar populations.

A Systematic Review of Entrepreneurship in Pharmacy Practice and Education

Objective. To review literature pertaining to entrepreneurship in pharmacy practice, education, and the knowledge, skills, and attitudes (KSAs) identified for pharmacist entrepreneurs. Findings. In terms of pharmacy practice, entrepreneurship was most frequently identified with innovation and creativity to develop new opportunities for pharmacists. The most frequent role for entrepreneurship in pharmacy education was related to schools putting a greater emphasis on innovation, creativity, or divergent thinking. Risk-taking and creativity/innovation were the most frequently identified KSAs, with 17 (63.0%) manuscripts mentioning these as important for a pharmacist entrepreneur. Other KSAs pertaining to pharmacy entrepreneurship that were mentioned in the articles included self-starter, management, proactivity, communication, strategic planning, positivity, decision-making, teamwork, versatility, marketing, critical thinking, competitiveness, proposal development, numeracy, technology, self-reflection, persistence, social responsibility, and cultural competence. Summary. No consensus for entrepreneurship in pharmacy practice or education currently exists. In order to improve instructional design and assessment for pharmacy entrepreneurship education, a core set of KSAs for a pharmacist entrepreneur construct must be identified. The most commonly cited KSAs in related literature that are not already part of the Accreditation Council for Pharmacy Education standards include risk-taking, strategic planning, marketing, competitiveness, and social responsibility. These may serve as a starting point for enhancing pharmacy curricula to embrace pharmacist entrepreneurship.

Entrepreneurship, intrapreneurship and scientific mobility: The Spanish case

Scientific mobility can stimulate entrepreneurship and intrapreneurship, acting as a catalyst for reducing imbalances between local and global science and the resulting socio-economic damage. This study evaluates both whether scientific mobility effectively promotes these concepts and the fundamental reasons to articulate effective policies for scientific mobility. Toward this end, a survey has been prepared following the methodology of Global Entrepreneurship Monitor (GEM) and current scientific literature. A total of 364 researchers involved in Spanish scientific mobility took part in the study: Spanish scientists abroad (135) and scientists returned to Spain (52), as mobile groups, and young researchers in Spain (177), as a group of scientists who could go abroad, but that have not yet begun to leave. The results demonstrate that scientific mobility does promote entrepreneurship and, especially intrapreneurship. Moreover, since permanent positions are scarce for these groups and their mobility decisions largely depend on job opportunities, the involved Spanish authorities and agents can improve scientific mobility by means suitable policies that make the most of this potential to the benefit of economic growth and job creation.

Entrepreneurship: Assessing the Readiness of the New Jersey APN Workforce

There is an unprecedented opportunity to move advanced practice nurses (APNs) into primary care settings at a steady rate over the next 5 to 8 years. In addition, the opportunity for nurse-owned or nurse-led practices has never been greater. However, many APNs currently work in a structured environment where the employer focuses on the business aspects of the practice and the APN focuses primarily on clinical care. Often APNs are unaware of the entrepreneurial contribution they make to the practice. A Needs Assessment Survey was developed to better understand business and practice management knowledge and skills of APNs in New Jersey. The survey included 14 categories for competency development. Twelve of the 14 categories showed that APNs were at a novice or an advanced beginner level. APNs need to demonstrate their value and take a lead to help solve primary care access issues. This can only be accomplished if APNs are willing to seize the opportunity and overcome barriers and knowledge gaps through both formal and informal education to step out of their traditional positions into more independent roles.

Key Conditions for Successful Serial Entrepreneurship in Healthcare

As a serial entrepreneur in the medical device industry, the author embraces Snowdon's (2017) effort to create and stimulate dialogue among experts in health system innovation in an effort to define and support Canada's innovation agenda. In this paper, he outlines some of the attributes and skills that companies need to launch their products and scale their companies. He also identifies the main conditions of an innovation ecosystem that create the necessary infrastructure to enable and support highly successful companies while allowing them to accelerate their growth.

Building a Culture of Health Informatics Innovation and Entrepreneurship: A New Frontier

Entrepreneurship and innovation within the health informatics (HI) scientific community are relatively sluggish when compared to other disciplines such as computer science and engineering. Healthcare in general, and specifically, the health informatics scientific community needs to embrace more innovative and entrepreneurial practices. In this paper, we explore the concepts of innovation and entrepreneurship as they apply to the health informatics scientific community. We also outline several strategies to improve the culture of innovation and entrepreneurship within the health informatics scientific community such as: (I) incorporating innovation and entrepreneurship in health informatics education; (II) creating strong linkages with industry and healthcare organizations; (III) supporting national health innovation and entrepreneurship competitions; (IV) creating a culture of innovation and entrepreneurship within healthcare organizations; (V) developing health informatics policies that support innovation and entrepreneurship based on internationally recognized standards; and (VI) develop an health informatics entrepreneurship ecosystem. With these changes, we conclude that embracing health innovation and entrepreneurship may be more readily accepted over the long-term within the health informatics scientific community.

A perspective of adaptation in healthcare

Emerging new technologies in healthcare has proven great promises for managing patient care. In recent years, the evolution of Information and Communication Technologies pushes many research studies to think about treatment plan adaptation in this area. The main goal is to accelerate the decision making by dynamically generating new treatment due to unexpected situations. This paper portrays the treatment adaptation from a new perspective inspired from the human nervous system named autonomic computing. Thus, the selected potential studies are classified according to the maturity levels of this paradigm. To guarantee optimal and accurate treatment adaptation, challenges related to medical knowledge and data are identified and future directions to be explored in healthcare systems are discussed.

Nursing entrepreneurship: motivators, strategies and possibilities for professional advancement and health system change

In Canada, as well as internationally, efficiency-focused organizational restructuring in healthcare has resulted in stressful job change for nurses, although nurses continue to work in a system that values technology-based, physician-provided services. Employed nurses have had to participate in organizational activities that undermine their professional values and goals. Nursing entrepreneurship presents an opportunity to explore nursing's professional potential in nursing practice that is uniquely independent. In this study, a focused ethnographic approach was used to explore the experiences of self-employed nurses, who see themselves as leaders in advancing the profession of nursing and its contribution to healthcare. Key themes in the findings include the responses of self-employed nurses to health system change, expanded roles for nurses, the consequences of this non-traditional approach to nursing work and the possibilities for change that arise from nursing entrepreneurship. This research has implications for healthcare policy, professional advocacy and nursing education.

Rising to the challenge of health care reform with entrepreneurial and intrapreneurial nursing initiatives

Health reform worldwide is required due to the largely aging population, increase in chronic diseases, and rising costs. To meet these needs, nurses are being encouraged to practice to the full extent of their skills and take significant leadership roles in health policy, planning, and provision. This can involve entrepreneurial or intrapreneurial roles. Although nurses form the largest group of health professionals, they are frequently restricted in their scope of practice. Nurses can help to improve health services in a cost effective way, but to do so, they must be seen as equal partners in health service provision. This article provides a global perspective on evolving nursing roles for innovation in health care. A historical overview of entrepreneurship and intrapreneurship is offered. Included also is discussion of a social entrepreneurship approach for nursing, settings for nurse entre/intrapreneurship, and implications for research and practice.

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.

Innovative healthcare systems on their way to the market: how to cope with commercialization barriers

Healthcare markets and healthcare systems worldwide will be undergoing tremendous changes in the upcoming 5-10 years. We will experience a paradigm shift in the personal awareness and responsibility of disease prevention and health management. Skyrocketing costs, an ageing population and a variety of technical innovations that enhance the quality of life of patients with chronic diseases or suffering from geriatric ailments will open up new horizons for a variety of partly textile based preventative, therapeutic & diagnostic systems, devices & technologies. Mainly these innovations are geared to optimize the patients comfort and concedes more freedom of mobility. However all partners in the healthcare value distribution chain need to cooperate in vue of the patients empowerment to bring innovations quicker to the market and find viable and cost efficient solutions.

Biotechnology SMEs, start-ups, spin-offs or microenterprises are they molecules coming from the research results? If so, what place do they hold in the global industrial tissue?

In recent years, the number of biotech enterprises in Europe has grown spectacularly, largely fueled by the increasing number of entrepreneurial initiatives from Europe's leading research institutes. The place held on the economic market by these enterprises, is a question that market analysts have been asking themselves since their rapid growth and, more particularly, their over valuation which, at times, has led to the crash of their shares on the stock markets. To be sure, this article does not claim to go into an in-depth financial analysis to explain the details of certain "shipwrecks". Rather, it just would like to provide some useful indications for all those having embarked, or desirous of doing so, in the creation of biomedical enterprises.

Specialty-Service Lines: Salvos In The New Medical Arms Race

Hospitals and physicians are developing and marketing discrete and profitable specialty-service lines. Although closely affiliated specialist physicians are central to hospitals' service-line products, other physicians compete directly with hospitals via physician-owned specialty facilities. Specialty-service lines may be provided in a variety of settings, both inside and outside traditional hospital walls. Thus far, the escalating battle between hospitals and physicians for control over specialty services has not affected hospital profitability. However, as the scope of care that can be safely performed in the outpatient arena expands, physician competition for control over specialty services may threaten hospitals' financial health.

Trends in biopharmaceutical IPOS: 1996-2005

This study examines the stock market reaction and other financial aspects of all biopharmaceutical firms that had an initial public offering (IPO) between 1996 and 2005. Overall, increases in stock price at the close of the first day averaged 20.9 percent while the stock price of those firms that went public and survived until the end of 2005 stock price increased by only 7.7 percent on average. Sixty-nine percent of the firms that went public during this period were still trading at the end of 2005, with the majority of those de-listed being acquired or merged. Three-fourths of all biopharmaceutical IPOs had venture capital investors. Venture capitalists owned 47.4 percent of all common stock outstanding prior to the IPO on average.

The industry in Europe: more together than apart

How different is the United Kingdom from the rest of Europe? This, the second of a three-part report on the findings of Medical Device Technology's annual market survey, looks at a country whose health-care delivery is going through considerable change.

The innovation process centre stage

London's Olympia 2 was the venue for the first Medical Device Technology Innovation Forum. The event was characterised by dialogue and discussion that explored the key issues involved in delivering clinical need through innovative products to the end user. Highlights of the event are reported here.