For the better or the worse? The impact of business idea changes on new venture performance and novelty

Should new ventures stick to their knitting once they start commercialising or should they engage in frequent changes of their business idea? In this paper we argue that new ventures still need to learn their way in the early phases of commercialisation and that changes are good, but subject to two important contingencies. First is that changes should be aimed at enhancing uniqueness, which in turn enhances new venture performance. Second is that our results show that changes have limited affect on uniqueness and performance for entrepreneurs aiming at maximising opportunities, but that changing the business idea has a significant positive impact for entrepreneurs focusing on minimising losses. Our findings indicate that entrepreneurs aiming at minimising losses may offset their initial disadvantages by engaging in a series of adaptations of the business idea to gain higher performance and a more unique product offering.

Who is the corporate entrepreneur? Insights from opportunity discovery and Creation Theory

Recent research has begun to address and even compare nascent entrepreneurship and nascent corporate entrepreneurship. An opportunity based view holds great potential to integrate both streams of research, but also presents challenges in how we define corporate entrepreneurship. We extend (corporate) entrepreneurship literature to the opportunity identification phase by providing a framework to classify different types of corporate entrepreneurship. Through analysis of a large dataset on nascent (corporate) entrepreneurship (PSEDII) we show that these corporate entrepreneurs differ largely from each other in terms of human capital. Prior studies have indicated that independent and corporate entrepreneurs pursue different types of opportunities and utilize different strategies. Our findings from the opportunity identification phase challenge those differences and seem to indicate a difference between the opportunities corporate entrepreneurs identify versus the opportunities they exploit.

Exploring the impact of entrepreneur optimism on the new venture process

By integrating two theoretical foundations of entrepreneurship research, behaviour and process, this conceptual paper proposes a new model to examine the behaviour of the entrepreneur across the new venture development process. Existing macro level research on the new venture creation process recognises the entrepreneur as a central agent in the process yet generally avoids, at each stage of the process, an examination of the micro level psychological experiences of the individual entrepreneur. Similarly, behavioural research examining entrepreneur individual differences has failed to systematically explore the emotion and behaviour of the entrepreneur across the cycle of the new venture creation process. We propose a conceptual framework to integrate the new venture creation process of opportunity discovery, evaluation and exploitation, with the psychological capital (efficacy, hope, resilience and optimism) of the individual entrepreneur. Propositions for future research to facilitate deeper insight into the impact of entrepreneur behaviour on the new venture creation process and ultimately the success or failure of the new venture are provided.

Death : is it fatal?

Death is a common occurrence in the world of today and impacts upon families in a variety of ways, depending upon a range of circumstances. This paper examines the impact that a sudden, unexpected death of the founder of a family business had on both the business and the family. The basis for the research is a single case study of a family business operating in regional Victoria. At the time of the death of the family founder (from a fatal motorcycle accident) his adult children had not been prepared to take over the company. The paper examines if the death of the founder proved fatal to the family business.

The role of digressive learning and uniqueness on performance : longitudinal evidence from young firms

The ability to differentiate from competitors through the selection of unique offerings is an important cornerstone of competitive performance. Developing unique products and services to offer in the marketplace is not only important for established firms, but also an important strategic choice for young firms (Baum and Haveman, 1997). Unlike large and established firms, young firms tend to have less access to adequate resources, well-developed sources of information, contact networks, and considerable experience and management know-how. That is, these firms differ significantly in their attributes and performance from larger and well-established firms (c.f. Miller and Chen, 1994). Although young firms are disadvantaged by the paucity of resources in putting together its unique product offering(s), they develop different pathways in advancing their assortment of capabilities that enables them to stay ahead of competitors.

Resource constraints in innovation : the role of bricolage in new venture creation and firm development

The emerging theory of ‘bricolage’ as a resource behaviour represents an attempt to address the central entrepreneurship research problem of making systematic sense of entrepreneurs that sometimes manage to create significant new economic activity under what appears to be severe resource constraints (Baker & Nelson 2005). However, despite growing interest in bricolage there is little large scale empirical evidence about the effectiveness and outcomes of using bricolage processes while developing innovative outcomes in nascent and young firms. In this research we test bricolage using different forms of innovation using data from the Comprehensive Australian Study of Entrepreneurial Emergence (CAUSEE) project. Our results indicate overall positive results of bricolage with all forms of innovativeness. A discussion of the results and recommended future research is provided.

Nascent venture performance : linking novelty of venture ideas and commitment of firm founders as predictors

The individual-opportunity nexus emphasizes that both the characteristics of individuals and venture ideas have roles in the entrepreneurial process (Shane & Venkataraman, 2000). Following upon this assertion the present study examined whether the venture idea novelty and investment of resources can make an important part in the venture creation process. Data analysed for a sample of nascent entrepreneurs in Australia suggests that the novelty of venture ideas restricts the performance of nascent ventures. However, the more investment of time and money do not show a significant impact to the venture performance.

Balanced skills among nascent entrepreneurs

This paper examines the effects and origins of balanced skills among nascent entrepreneurs. In a first step we extend Lazear’s jack-of-all-trades theory to formally model performance effects of balanced skills. In a second step we investigate potential sources of balanced skills related to the investment hypothesis and the endowment hypothesis. Analyzing data on 100 high-potential nascent projects, we find support for the hypothesis that balanced skills are an important factor for making progress in the venture creation process. Interestingly, none of the traditional human capital indicators such as prior managerial and entrepreneurial experience predict the progress of the project. However, they contribute to a balanced skill set, supporting the investment hypothesis on balanced skill origins. We also find empirical evidence for the endowment hypothesis suggesting that a balanced skill set is deeply rooted in the adolescent development and personality characteristics of the nascent entrepreneurs.

The role of immigrant entrepreneurs in international new ventures

Immigrant Entrepreneurs (IE) are often portrayed as being pushed into self-employment due to employment barriers in their adopted countries. But IE have human resources, like international experience, which can help them form international new ventures (INV). We question the role of IE in INV. We use randomly selected data from 561 young firms from the Comprehensive Australian Study of Entrepreneurial Emergence (CAUSEE) project. We find that IE are overrepresented in INV and have many of the characteristics known to facilitate INV success. These findings have relevance to policy makers, IE and NE.

Industry school partnerships : real world learning through the Gateway Schools Projects

In the last decade, a gradual but significant shift in education has taken place. Schools have transformed from hermetically sealed, impermeable bureaucracies to dynamic and flexible organisations characterised by openness to local communities and connectedness to global issues and cultures. They are also more responsive to the aspirations of students and parents. A central feature of what Christian Maroy (2009) has described as the post bureaucratic era of education has been the relationships formed between schools and other organisations through formalised partnerships. Partnerships have been a significant feature of schooling in Queensland since the 1980s when schools developed Vocational Education Programs (VET) providing alternative pathways from schooling to post school training or employment. However, partnerships that have emerged in recent times have been more structured in their organisation and more targeted in terms of the outcomes they aim to achieve. Examples here have included Queensland’s District Youth Achievement plans that linked schools, business, industry bodies, training organisations and community groups to improve transition outcomes, particularly for young people at risk in their transitions from school to post-school life.

A socially responsible model of micro-credit delivery to support sustainable community development in emerging economies

Micro-finance, which includes micro-credit as one of its core services, has become an important component of a range of business models – from those that operate on a strictly economic basis to those that come from a philanthropic base, through Non Government Organisations (NGOs). Its success is often measured by the number of loans issued, their size, and the repayment rates. This paper has a dual purpose: to identify whether the models currently used to deliver micro-credit services to the poor are socially responsible and to suggest a new model of delivery that addresses some of the social responsibility issues, while supporting community development. The proposed model is currently being implemented in Beira, the second largest city in Mozambique. Mozambique exhibits many of the characteristics found in other African countries so the model, if successful, may have implications for other poor African nations as well as other developing economies.

Deterministic diffraction loss modelling for novel broadband communication in rural environments

This paper presents a deterministic modelling approach to predict diffraction loss for an innovative Multi-User-Single-Antenna (MUSA) MIMO technology, proposed for rural Australian environments. In order to calculate diffraction loss, six receivers have been considered around an access point in a selected rural environment. Generated terrain profiles for six receivers are presented in this paper. Simulation results using classical diffraction models and diffraction theory are also presented by accounting the rural Australian terrain data. Results show that in an area of 900 m by 900 m surrounding the receivers, path loss due to diffraction can range between 5 dB and 35 dB. Diffraction loss maps can contribute to determine the optimal location for receivers of MUSA-MIMO systems in rural areas.

Revitalizing health for all : international Indigenous representative group. Learning from the experience of comprehensive primary health care in Aboriginal Australia — A commentary on three projects

This paper presents a regional commentary (hereafter ‘the commentary’) on the three Australian projects of the Teasdale-Corti Global Health Research Partnership Program. The three Australian projects are: Victorian Aboriginal Health Service Ltd (VAHS), Melbourne, Victoria—Forty Years of Comprehensive Primary Health Care; Central Australian Aboriginal Congress Inc. (Congress), Alice Springs, Northern Territory—Ingkintja, Male Health Program; and Urapuntja Health Service (UHS), Utopia, Northern Territory—Outstation Health Care. It highlights common themes and lessons in respect to the Revitalising Health for All project in the context of Aboriginal and Torres Strait Islander health in Australia.

State convergence in the initialisation of stream ciphers

An initialisation process is a key component in modern stream cipher design. A well-designed initialisation process should ensure that each key-IV pair generates a different key stream. In this paper, we analyse two ciphers, A5/1 and Mixer, for which this does not happen due to state convergence. We show how the state convergence problem occurs and estimate the effective key-space in each case.