The financial system in Mozambique: Opportunities, barriers and market potential

This research is empirical and exploratory intending to analyse the attractiveness of banking in Mozambique, considering its positive outlook. To identify the opportunities and barriers, the methods adopted were elite interviews with banking executives, complemented by secondary data. The opportunities for new entrants seem to include bankarization and the emergence of micro and smallmedium enterprises; other avenues seem to include investment banking, support of mega-projects (e.g. energy, infrastructures) through syndicates and cooperation with multilaterals, and the participation in developing capital markets. Conversely, the main barriers include shortage of talent, inadequate infrastructures, poverty, unsophisticated entrepreneurial culture (e.g. informal economy, inadequate financial reporting), burdensome bureaucracy (e.g. visas), foreign exchange regulation, as well as low liquidity and high funding costs for banks. The key conclusions suggest a window of opportunity for niche markets, and new products and services in retail and investment banking.

Opportunities and threats for the launch of a smartphone app

Field lab: Entrepreneurial and innovative ventures

'Doctor, Doctor...' entrepreneurial diagnosis and market making

Doctor-patient jokes are universally popular because of the information asymmetries within the diagnostic relationship. We contend that entrepreneurial diagnosis is present in markets where consumers are unable to diagnose their own problems and, instead, may rely on the entrepreneur to diagnose them. Entrepreneurial diagnosis is a cognitive skill possessed by the entrepreneur. It is an identifiable subset of entrepreneurial judgment and can be modeled – which we attempt to do. In order to overcome the information asymmetries and exploit opportunities, we suggest that entrepreneurs must invest in market making innovations (as distinct from product innovations) such as trustworthy reputations. The diagnostic entrepreneur described in this paper represents a creative response to difficult diagnostic problems and helps to explain the success of many firms whose products are not particularly innovative but which are perceived as offering high standards of service. These firms are trusted not only for their truthfulness about the quality of their product, but for their honesty, confidentiality and understanding in helping customers identify the most appropriate product to their needs.

Curriculum for entrepreneurial creativity and resourcefulness in New Zealand

This thesis asks: ‘How can tertiary education nurture entrepreneurial creativity?’ Entrepreneurship is considered to be a vital determinant of economic growth and the entrepreneur is understood as someone who innovates and commercialises their own innovation. The setting is New Zealand which is struggling to make the shift from relying on primary production to becoming a ‘creative economy.’ The creative individual has been identified as a new mainstream but it is argued that in New Zealand, education provision is inadequate for supporting the development of the practice of entrepreneurship. The problem is not unique. Various writers are critical of business education generally, and of the mismatch between the passion and chaos in entrepreneurs’ lives and the way education programs are typically organised as a linear sequence of discipline-based courses with prescribed content, activities and outcomes. Rich data were gathered from in-depth interviews with twelve nascent, new or experienced entrepreneurs and two associates (one a marketer, the other a scientist). Each participant was drawn from a different area of economic endeavour. They were asked to share their stories and views about creativity, the connections between creativity and entrepreneurship, business success, formal and informal education, and ways to improve tertiary education programs. The research found that a suitable environment for nurturing creativity will most likely have structure but will also enable chaos. It will present opportunities for experiencing diversity, and will stimulate unconscious and conscious mental processes. It will provide scope for hard work that is fun and involves authentic risk-taking, and will enable both individual and purposeful teamwork. The study also found that business success is not based on knowledge but is rather about being resourceful. The becoming of the creative entrepreneur thus includes developing capability to network with peers and mentors and communicate with customers and staff, and developing passion for and resilience in the pursuit of a dream. The findings suggest that in an age of uncertainty, nurturing entrepreneurial creativity and resourcefulness requires learning to be viewed as a practice-based community process where knowing and doing are interwoven with being. It is argued that this needs to align with Ronald Barnett and Kelly Coate’s (2005) notion of ‘a curriculum for engagement.’ It is suggested that an entire program might simply invite students to work collaboratively to identify and exploit an entrepreneurial opportunity by producing and commercialising an appropriate product/service innovation; to undertake this work as two separate projects – one within an existing organisation, and the other as a new venture; and to theorise their work. It is proposed that a suitable framework lies in William Doll’s (2002) advocacy for a curriculum based on a matrix of five Cs: ‘currere,’ complexity, cosmology, conversation, and community. To these, creativity is added as a sixth C.

Opportunities or obstacles? understanding the challenges faced by migrant women entrepreneurs

Purpose - Applying theories of entrepreneurship, the paper aims to identify the factors - with theoretical explanations - that act as barriers to migrant women entrepreneurs (MWEs), particularly women from developing countries starting businesses in developed economies. The paper further explores which barriers also have the potential to act as enablers.

Design/methodology/approach - The relationship between immigration, ethnicity, gender and entrepreneurship has received little theoretical attention. Linking these discourses, the paper theoretically develops a framework of the possible barriers or enablers faced by MWEs.

Findings - The paper reinforces earlier research that MWEs are not a homogenous group; the problems they face are multifaceted, and MWEs from developing countries are the most disadvantaged of entrepreneurs. It identifies multiple factors - human capital, culture, family, institutional factors, gender and social capital- as possible barriers for MWEs. Findings further indicate, that among those barriers, culture, family, social capital and gender have the potential to play a dual role for MWEs, by acting either as a barrier or an enabler. Findings also highlight the overarching and predominant influence of culture – as explained by cultural theory -acting as a barrier for MWEs from developing countries.

Research limitations/implications - Given the increasing potential of MWEs, the paper provides implications for not only addressing the barriers but also viewing the barriers as ways to promote entrepreneurship among such minority groups. It further stresses a needs-based approach to customizing policies to benefit the diverse group of MWEs. Limitations: This is a theoretical paper. Empirical research is needed to test the framework and its different dimensions. Given the diversity of MWEs and the factors that shape their entrepreneurial endeavours, it is difficult to develop a single framework to encompass the complexity of the situation. Nevertheless, the proposed framework provides useful insights into the barriers or enablers that MWEs face, along with theoretical explanations and, thus, acts as a springboard for future research.

Originality/value - By providing a theory-based framework of the barriers or enablers faced by MWEs, along with policy implications, the paper contributes to a better understanding of the phenomenon of migrant women entrepreneurship.

How does microfinance enhance entrepreneurial outcomes in emerging economies? The mediating mechanisms of psychological and social capital

In this article, a conceptual framework and research propositions are developed to explain how microfinance provision can translate into new venture creation and existing venture growth in an emerging economy context by engendering higher levels of psychological and social capital in clients. In doing this, the extent to which microfinance institutions provide business support and opportunities for social interaction are identified as factors which may strengthen the impact of microfinance provision on psychological and social capital, especially for poor entrepreneurs in resource-constrained settings. The conceptual framework and research propositions developed will be of use to academics in designing an agenda for future empirical research. In addition, they will help policymakers and microfinance providers to better design microfinance initiatives that enhance the well-being of clients and maximise their entrepreneurial outcomes. © The Author(s) 2013.

Entrepreneurial intention and entrepreneurial behaviour:a social psychological perspective

Increasing the supply of entrepreneurs reduces unemployment and accelerates economic growth (Acs, 2006; Audretsch, 2007; Santarelli et el. 2009; Campbell, 1996; Carree & Thurik, 1996). The supply of entrepreneurs depends on the entrepreneurial intention and activity of the people (Kruger & Brazeal, 1994). Existing behavioural theories explain that entrepreneurial activity is an attitude driven process which is mediated by intention and regulated by behavioural control. These theories are: Theory of Planned Behaviour (Ajzen, 1991; 2002, 2012); Entrepreneurial Event Model (Shapiro & Shokol, 1982), and Social Cognitive Theory (Bandura, 1977; 1986; 2012). Meta-analysis of existing behavioural theories in different fields found that the theories are more effective to analyse behavioural intention and habitual behaviour, but less effective to analyse long-term and risky behaviour (McEachan et al., 2011). The objective of this dissertation is to improve entrepreneurship behaviour theory to advance our understanding of the determinants of the entrepreneurial intention and activity. To achieve this objective we asked three compelling questions in our research. These are: Firstly, why do differences exist in entrepreneurship among age groups. Secondly, how can we improve the theory to analyse entrepreneurial intention and behaviour? And, thirdly, is there any relationship between counterfactual or regretful thinking and entrepreneurial intention? We address these three questions in Chapters 2, 3 and 4 of the dissertation. Earlier studies have identified that there is an inverse U shaped relationship between age and entrepreneurship (Parker, 2004; Hart et al., 2004). In our study, we explain the reasons for this inverse U shape (Chapter 2). To analyse the reasons we use Cognitive Life Cycle theory and Disuse theory. We assume that the stage in the life cycle of an individual moderates the influence of opportunity identification and skill to start a business. In our study, we analyse the moderation effect in early stage entrepreneurship and in serial entrepreneurship. In Chapter 3, the limitations of existing psychological theories are discussed, and a competency value theory of entrepreneurship (CVTE) is proposed to overcome the limitations and extend existing theories. We use a ‘weighted competency’ variable instead of a ‘perceived behavioural control’ variable for the theory of planned behaviour (TPB) and self-efficacy variable for social cognitive theory. Weighted competency is the perceived competency ranking assigned by an individual for his total competencies to be an entrepreneur. The proposed theory was tested in a pilot survey in the UK and in a national adult population survey in a South Asian Country. The results show a significant relationship between competencies and entrepreneurial intention, and weighted competencies and entrepreneurial behaviour as per CVTE. To improve the theory further, in Chapter 4, we test the relationship between counterfactual thinking and entrepreneurial intention. Studies in cognitive psychology identify that ‘upward counterfactual thinking’ influences intention and behaviour (Epstude & Rose, 2008; Smallman & Roese, 2009). Upward counterfactual thinking is regretful thinking for missed opportunities of a problem. This study addresses the question of how an individual’s regretful thinking affects his or her future entrepreneurial career intention. To do so, we conducted a study among students in a business school in the UK, and we found that counterfactual thinking modifies the influence of attitude and opportunity identification in entrepreneurial career intention.

The franchise dilemma:entrepreneurial characteristics, relational contracting, and opportunism in hybrid governance

Using franchise data, we identify that entrepreneurial characteristics of franchisees partially impact on their opportunistic tendencies. Further, relational contracting increases franchisee opportunism by strengthening the opportunism-enhancing impact of entrepreneurial characteristics. These findings point to a key dilemma franchisors need to be aware of: Entrepreneurially minded franchisees who might be better at exploiting market opportunities for their units may also behave more opportunistically, if given the chance through a more relational contracting regime. At the same time, if they perceive the contractual framework as being too rigid, they may be less able to leverage their capabilities, become dissatisfied, and exit the system.

What's so entrepreneurial about intrapreneurs?

This paper discusses the determinants of becoming an intrapreneur. Individuals maximise their utility while deciding among three occupations: independent entrepreneurship, paid employment and intrapreneurship. I show that intrapreneurs resemble employees rather than entrepreneurs. Specifically, comparing the decision-making of intrapreneurs to that of entrepreneurs, the former are significantly more risk averse, expect lower but less uncertain reward and are broadly endowed with a poorer set of entrepreneurial abilities; despite having higher levels of human capital they fail to recognise business opportunities and have lower confidence in their entrepreneurial skills. A distinction within the category of intrapreneurship, based on the level of engagement and therefore the level of personal risks they bear, adds to our understanding of intrapreneurship. Engaged intrapreneurs, i. e., intrapreneurs that expect to acquire an ownership stake in the business, unlike the rest of intrapreneurs, share the attributes usually assumed to characterise entrepreneurs. © 2011 Springer Science+Business Media, LLC.

A kutatási és fejlesztési tevékenység lehetőségei és korlátai a kkv szektorban A vezető szerepe az innovációban és az innováció értelmezése a kkv szektorban = Opportunities and constrains in the r&d activities of the SMEs: The role of the entrepreneur in the innovation processes and how it is manifasted in their everyday activities

Jelen tanulmány arra keresi a választ, hogy a vállalkozónak milyen szerepe van az innovációban, és az innovációnak milyen különböző értelmezési lehetőségei fedezhetőek fel kis- és középvállalkozási szektorban. Kiindulási pontja a vállalkozó vezető személye és innovatív magatartása, mellyel folyamatosan keresi a fejlődés új lehetőségeit. A vállalkozó az erőforrások kreatív felhasználása és vállalkozói magatartása révén a vállalkozás motorjának tekinthető. A tanulmány alapját kvalitatív mélyinterjúkon alapuló, 14 interjúból álló kutatás képezi, melyek mélyreható elemzése alátámasztotta, hogy az innovációs hajlandóság erősen összefügg a vállalkozói magatartással, és mindkét tényező szorosan köthető a vállalkozás vezetőjéhez. / === / This paper focuses on the entrepreneur’s role in the innovation process and on the way the entrepreneurs interpret the phenomena of innovation and they perceive their role in this process. The paper begins with the presentation of different entrepreneurial models, focusing especially on entrepreneurial management and its linkages to variable forms of innovation. Based on the deep examination of 14 interviews made with Hungarian entrepreneurs, the paper identifies the entrepreneur’s decisive role in the innovation process, furthermore the article confirms the importance of entrepreneurial and risk-taking behavior in innovative organizations.

Comradeship of Cock? Gay porn and the entrepreneurial voyeur

Thirty years of academic and critical scholarship on the subject of gay porn have born witness to significant changes not only in the kinds of porn produced for, and watched by, gay men, but in the modes of production and distribution of that porn, and the legal, economic and social contexts in which it has been made, sold/shared, and watched. Those thirty years have also seen a huge shift in the cultural and political position of gay men, especially in the US and UK, and other apparently ‘advanced’ democracies. Those thirty years of scholarship on the topic of gay porn have produced one striking consensus, which is that gay cultures are especially ‘pornified’: porn has arguably offered gay men not only homoerotic visibility, but a heritage culture and a radical aesthetic. However, neoliberal cultures have transformed the operation and meaning of sexuality, installing new standards of performativity and display, and new responsibilities attached to a ‘democratisation’ that offers women and men apparently expanded terms for articulating both their gender and their sexuality. Does gay porn still have the same urgency in this context? At the level of politics and cultural dissent, what’s ‘gay’ about gay porn now? This essay questions the extent to which processes of legal and social liberalization, and the emergence of networked and digital cultures, have foreclosed or expanded the apparently liberationary opportunities of gay porn. The essay attempts to map some of the political implications of the ‘pornification’ of gay culture on to ongoing debates about materiality, labour and the entrepreneurial subject by analyzing gay porn blogs.

Entrepreneurial skills of students of polytechnic higher education in Portugal: Business influences

Introduction: Most of entrepreneurial ideas does not appear ready or over. Any business opportunity needs to be developed and improved throughout the enterprise process. Educational institutions may facilitate the ability of the students had undertaken, identifying and building business opportunities, enhancing their knowledge and formative experiences along the learning process. Objectives: Evaluate the business influences the entrepreneurial ability of students of the Polytechnic. Methodology: Correlational quantitative study, conducted with 1604 students from 18 institutions of the Polytechnic of Portugal. Data collection took place between July and November/2015, with a questionnaire to assess the entrepreneurial profile, Carland Entrepreneurship Index (CEI) and sociodemographic variables of students. Results: We found four business factors that influence entrepreneurship, "availability of funds" (4:13, SD = .67); "Have stable customers and incentives" (3.99, SD = .58); "Social and economic instability" (3:08, SD = 1.17) and "opportunities in the sector and area of residence" (3:36, SD = 1.05). On a scale range between (1-5), we obtained an overall score of 3.86 (SD = .55), for the corporate influences on entrepreneurship. Conclusion: For students entrepreneurial influences are important, with a greater sense of fear with regard to economic instability, reinforcing the need for further training and academic investment in the business.

Entrepreneurial skills of students of polytechnic higher education in Portugal: Business influences

Background Most entrepreneurial ideas do not appear ready or finished. Any business opportunity needs to be developed and improved throughout the enterprise process. Educational institutions may facilitate the ability of the students in undertaking, identifying and building business opportunities, enhancing their knowledge and formative experiences along the learning process. Objective: Evaluate business influences on the entrepreneurial ability of students of the Polytechnic. Methods Correlational quantitative study, conducted with 1,604 students from 18 institutions of the Polytechnic of Portugal. Data collection took place between July and November/2015, with a questionnaire to assess the entrepreneurial profile, the Carland Entrepreneurship Index (CEI) and sociodemographic variables of students. Results We found four business factors that influence entrepreneurship: "availability of funds" (4:13, SD = .67); "Having stable customers and incentives" (3.99, SD = .58); "Social and economic instability" (3:08, SD = 1.17) and "Opportunities in the sector and area of residence" (3:36, SD = 1.05). On a scale ranging between 1 and 5, we obtained an overall score of 3.86 (SD = .55), for the corporate influences on entrepreneurship. Conclusions For students, entrepreneurial influences are important, with a greater sense of fear with regard to economic instability, reinforcing the need for further training and academic investment in business.

Analysis of the entrepreneurial profile of students attending higher education in Portugal: the Carland Entrepreneurship Index application

Background The societal changes have created new necessities in terms of health care and of professionals with diverse skills. The institutions of higher education should promote the development of an entrepreneurial profile in students which may boost the exploration of new opportunities. Objectives: To identify the entrepreneurial profile in the students in higher education and its relationship to some personal characteristics and training. Methods Correlational quantitative study, accomplished with 1,604 students from 18 institutions of polytechnic Institutes of Portugal. The collection of data occurred between July and November/2015. The Carland Entrepreneurship Index (CEI) entrepreneurial skills questionnaire was applied, along with the acquisition of socio-demographic variables of the students. Data was analysed with the SPSS 23.0. The study followed the ethical requirements. Results The (CEI) application, allowed us to note that 75.7 % of the students presented an entrepreneurial profile, 20.8 % a Micro entrepreneurial profile and 3.4 % a Macro entrepreneurial. Additionally, we verified that older students (r = 0.193, p < = 0.000), of the male gender (Female = 0.55; Male, M= 0.580 p < 0.000), that had already worked or would like to work for others, showed the greatest entrepreneurial potential (Yes M= 0.60; No 0.54; p < 0.000), along with those who participated in entrepreneurial contents during their training (Did not participate M= 0.53; Participated 0.58; p < 0.000). Conclusions The entrepreneurial profile is related with some social demographic characteristics of the students; however, the educational institutions may have a preponderant role in the development of that profile, which may contribute to a greater contribution in the wellbeing of the populations.

Logoplaste-What are the opportunities in the European dairy industry?

Field lab: Entrepreneurial and innovative ventures