Fashion as consumer entrepreneurship : emergent risk culture, social network markets, and the launch of 'Vogue' in China

China has a reputation as an economy based on utility: the large-scale manufacture of low-priced goods. But useful values like functionality, fitness for purpose and efficiency are only part of the story. More important are what Veblen called ‘honorific’ values, arguably the driving force of development, change and value in any economy. To understand the Chinese economy therefore, it is not sufficient to point to its utilitarian aspect. Honorific status-competition is a more fundamental driver than utilitarian cost-competition. We argue that ‘social network markets’ are the expression of these honorific values, relationships and connections that structure and coordinate individual choices. This paper explores how such markets are developing in China in the area of fashion and fashion media. These, we argue, are an expression of ‘risk culture’ for high-end entrepreneurial consumers and producers alike, providing a stimulus to dynamic innovation in the arena of personal taste and comportment, as part of an international cultural system based on constant change. We examine the launch of Vogue China in 2005, and China’s reception as a fashion player among the international editions of Vogue, as an expression of a ‘decisive moment’ in the integration of China into an international social network market based on honorific values.

Fashion as consumer entrepreneurship : emergent risk culture, social network markets, and the launch of Vogue in China

China has a reputation as an economy based on utility: the large-scale manufacture of low-priced goods. But useful values like functionality, fitness for purpose and efficiency are only part of the story. More important are what Veblen called ‘honorific’ values, arguably the driving force of development, change and value in any economy. To understand the Chinese economy therefore, it is not sufficient to point to its utilitarian aspect. Honorific status-competition is a more fundamental driver than utilitarian cost-competition. We argue that ‘social network markets’ are the expression of these honorific values, relationships and connections that structure and coordinate individual choices. This paper explores how such markets are developing in China in the area of fashion and fashion media. These, we argue, are an expression of ‘risk culture’ for high-end entrepreneurial consumers and producers alike, providing a stimulus to dynamic innovation in the arena of personal taste and comportment, as part of an international cultural system based on constant change. We examine the launch of Vogue China in 2005, and China’s reception as a fashion player among the international editions of Vogue, as an expression of a ‘decisive moment’ in the integration of China into an international social network market based on honorific values.

China's Creative Industries : Copyright, Social Network Markets and the Business of Culture in a Digital Age

China’s Creative Industries explores the role of new technologies, globalization and higher levels of connectivity in re-defining relationships between ‘producers’ and ‘consumers’ in 21st century China. The evolution of new business models, the impact of state regulation, the rise of entrepreneurial consumers and the role of intellectual property rights are traced through China’s film, music and fashion industries. The book argues that social network markets, consumer entrepreneurship and business model evolution are driving forces in the production and commercialization of cultural commodities. In doing so it raises important questions about copyright’s role in the business of culture, particularly in a digital age.

exploring the differences of CSR and CSE activities on consumer attributions and responses

The following directed research project analyzes how different sustainability efforts of an organization influence consumers’ responses in an industry, which faces high controversy. The study tested shows how two different high fit sustainability endeavors, namely high fit Corporate Social Responsibility (CSR) activities and Corporate Social Entrepreneurship (CSE), affect the way consumers’ attributions are being made with regard to the company’s motive. With data gathered from surveying 156 participants, the study provides evidence that CSR as well as CSE programs stimulate values-driven attributions which positively affect consumers’ trust, corporate reputation and corporate image. Lastly, theoretical and managerial implications of the study are discussed and future research suggestions provided.

The role of crowdfunding in promoting entrepreneurship

Crowdfunding is a collaborative initiative, usually via internet, where people network to collectively raise funds in order to invest in and support projects delivered by other people or organizations. Tools such as crowdfunding are born and thrive in a grassroots environment, with a strong potential to positively disrupt the entrepreneurial generation setting and grow to a position of significant relevance in society, namely at a time when alternatives to traditional forms of finance are welcome and the technology to deliver them is abundant. Entrepreneurship is the act of transforming ideas and projects into economic products or services. Entrepreneurship related to starting new businesses is better known as start‐up ventures. Entrepreneurs face a series of challenges, from idea conception and business plan design, to obtaining finance, promoting new products and services, generating revenues and profits and generally growing and sustaining a business for the long‐run. These challenges can be overwhelming, namely in the start‐up phase of a new venture, leaving several ideas on paper without them having a chance to “grow legs and walk”. This paper and its analysis offer important insights about the contribution of crowdfunding to facilitate the attainment of critical factors for successful entrepreneurship. With extensive use of real practical examples, leveraging previous analytical studies of other crowdfunding implications and reviewing expert literature, by interviewing entrepreneurs, crowdfunding platform owners and by benefitting from hands on experience of working in such an organization, we intend to clarify the impact of crowdfunding in what we considered to be 7 key entrepreneurial requirements detailed further in the introduction section and later in the body of the paper. The findings have implications for entrepreneurs, naturally, and for business generation theory, extending current entrepreneurial guidelines with innovative tools and methodologies capable of sustaining successful ventures in a newly highlighted cooperative world. We live in innovative times where the channels for the transfer of funds and resources suffer disruptive changes with the potential to significantly improve the ability to generate new initiatives for the well‐being of entrepreneurs and all related communities.

Entrepreneurial opportunities, implicit contracts and market making for complex consumer goods

This article extends the theory of entrepreneurial opportunity exploitation, outlining how under certain conditions, opportunity exploitation is dependent on market making innovations. Where adverse selection and moral hazard characterize markets, consumers are likely to withdraw regardless of product quality. In order to overcome consumer resistance, entrepreneurs must signal credible commitments. But because consumers purchase without fully specifying requirements, entrepreneurs' commitments take the partial form of implicit contracts, creating strong mutual commitments to repeated transactions. These commitments enable novel markets to function, but introduce additional costs. This article illustrates the theory with the historic case of Singer in sewing machines

New directions for development banking in the Caribbean: financing to take advantage of unlimited supplies of labour skills and entrepreneurship

Includes bibliography

Learning by failure in entrepreneurship - Case study of selling Xylitol to Poland

My thesis aim is to find out what factors that can explain the entrepreneurial failure in my own entrepreneurial venture to sell Finnish xylitol product to Poland. In addition I seek to answer to the question of why Finnish xylitol products are not sold in Poland. This area has not been studied prior to my thesis. The study method is case study. Data collection is based on auto-ethnographic method where field notes and documents generated from my business venture were used. I discovered that Polish consumers are not exposed to consumer education of xylitol health benefits. The underlying potential in xylitol products expansion from Finland to foreign countries is still mostly unleveraged. My business venture failed because I was not able to convince Finnish confectionery companies Fazer and Cloetta to give enough support for my project. Polish dentists were also opposed having a competitor from Finland to Wrighley company which dominates the Polish confectionery markets.

Consumer appraisals of mobile marketing communications

This paper reports on a study that investigates the emotions elicited from appraising SMS-based mobile marketing (m-marketing) communications under three marketing conditions: product consistency, incentives and permission giving. Results from the experimental design show that appraising m-marketing communications elicits both single emotions and mixed emotions; that is, a mixture of positive and negative emotions in the same response. Additionally, the results show that the influence of specific marketing conditions may increase or reduce the intensity of the emotions elicited. This study contributes to marketing practice by examining consumer appraisals of m-marketing communications under different combinations of marketing conditions. The results provide insights into which emotions are likely to be elicited as a result, and how a specific marketing condition might influence their levels of intensity. The study contributes to marketing theory also through combining appraisal theory with Richins (1997) consumption emotion set.

Tourism Destination Preferences: A Longitudinal Analysis of Consumer Decision Sets

There have only been a small number of applications of consumer decision set theory to holiday destination choice, and these studies have tended to rely on a single cross sectional snapshot of research participants’ stated preferences. Very little has been reported on the relationship between stated destination preferences and actual travel, or changes in decision set composition over time. The paper presents a rare longitudinal examination of destination decision sets, in the context of short break holidays by car in Queensland, Australia. Two questionnaires were administered, three months apart. The first identified destination preferences while the second examined actual travel and revisited destination preferences. In relation to the conference theme, there was very little change in consumer preferences towards the competitive set of destinations over the three month period. A key implication for the destination of interest, which, in an attempt to change market perceptions, launched a new brand campaign during the period of the project, is that a long term investment in a consistent brand message will be required to change market perceptions. The results go some way to support the proposition that the positioning of a destination into a consumer’s decision set represents a source of competitive advantage.