European Conference on Innovation and Entrepreneurship

Portuguese SMEs: Strategies for Collaborative R&D and Participation in the Framework Programme

Ricardo Abreu — 2023-09-18

The European Union Framework Programme can create and/or strengthen research networks and cooperation, namely between SMEs and higher education institutions. However, in Portugal, SMEs represent only 16,7% of allocated funds, falling below the European Commission’s target (Agência Nacional de Inovação, 2020). Low SME participation can result from factors particularly related to SMEs, such as organizational characteristics and past R&D experience. In fact, previous collaborative R&D experience is an important factor determining participation in Framework Programmes (Barajas & Huergo, 2010), suggesting a virtuous cycle. How and why do SME gain collaborative experience with HEI? In what kind of collaborative experiences with HEIs do SMEs engage? What are the characteristics of SMEs that engage in these experiences? What obstacles and risks do SMEs face when applying for the FP and which strategies do they adopt to face them? To answer these questions, we conducted an exploratory survey with SMEs that collaborate with HEIs (N = 26). Additionally, we conducted semi-structured interviews with three H2020 participant SMEs and three non-participants to further explore their collaborative practices and R&D strategies.

Analysing the Influence of Components of Entrepreneurial Ecosystem on the Entrepreneurial Process

Aftab Alam — 2023-09-18

The entrepreneurial ecosystem is a popular concept because of its systematic approach to analysing entrepreneurship and promoting entrepreneurial activity in the region. However, studies on EE have lacked a framework for indicating the influence that EE components have on entrepreneurship. The authors fill this gap in our research by investigating the influence of the components of the entrepreneurial environment on the entrepreneurial process. Entrepreneurial Intention Development, Entrepreneurial Exploration, and Entrepreneurial Exploitation are the three stages of the entrepreneurial process that were identified. To investigate complex systems and grasp the system's causal linkages, fuzzy cognitive modelling approach was employed. This study provides insights into the relationships between the components of the entrepreneurial ecosystem and the entrepreneurial process, which helps to support entrepreneurship during its different phases.

System of Tax Incentives in Research and Business Development: An Analysis of the Recent Case Law of Portuguese Tax Arbitration

Susana Aldeia — 2023-09-18

The main objective of this work is to analyse the understanding of the tax authority regarding the application of the tax benefit in support of research and development in professional societies and whether this understanding complies with the legal provision. Additionally, to understand the sense of the recent decisions of the arbitral court in this matter. For this purpose, the study applies the legal research methodology. Several legal sources have been analysed, such as the personal income tax law, the corporate income tax law, the investment tax law, administrative doctrine and the jurisprudence of the Portuguese arbitration court. The study shows that the tax authority has been assuming an
understanding that does not fit in the legislation currently in force and administrative doctrine concerning tax benefits for the research and development of professional companies. The public authority limits the tax deduction to these entities, and this limitation would not apply in the case of commercial, industrial or service companies. Moreover, the Portuguese arbitral court recently confirmed this discriminatory understanding and agreed with this view. Thus, case law contributes significantly to the clarification of the application of the law.

A Cross-Culture Study of Entrepreneurial Intention: The Moderating Role of National Culture

Muazam Ali — 2023-09-18

The effects of entrepreneurship are many and multifaceted; they include the creation of new employment possibilities, the effective and efficient use of national resources and a positive improvement in the general well-being of the country residence. Various studies conducted on the Entrepreneurial Intention (EI); however, student EI are very fascinating and still demanding. Moreover, entrepreneurial cross-culture studies provide broad understanding about the EI internationally. Hence, this study is conducted on the EI of the university students in Pakistan and Malaysia. Its major goal is to pinpoint the factors that influence the EI of the university students of the emerging and developing countries. A quantitative research method is used for the data analysis. The data were collected from the public sector universities of Pakistan and Malaysia. A total number of 328 questionnaires were used for the data analysis. The hypothesis testing and empirical analysis are performed by the Smart PLS-SEM version 4.0. The findings of the research reveal that TPB equally affected the EI of the university students of Pakistan and Malaysia with the exception of subjective norms variable, which had a negative effect on Malaysian students. Moreover, the culture variable did not moderate the relationship between TPB and EI of the Pakistani students, although it is partially moderate the relationship of TPB and EI of the Malaysian university students. As a result, the research findings are crucial for policymakers in emerging and developing countries to comprehend and promote entrepreneurship both locally and internationally.

Malcolm Baldrige National Quality Award (MBNQA) Quality Tool in Education. A Systematic Literature Review

Sofia Anastasiadou — 2023-09-18

The purpose of this study is to determine the effects of the Malcolm Baldrige National Quality Award (MBNQA) quality tool in education. Identifying the main themes of these effects is an additional aim of the present study. Understanding these issues can enable higher and secondary education centres to direct their management towards achieving outstanding results. A systematic literature review was conducted based on data from two academic publishers, Emerald, Taylor and Francis. The 41 peer-reviewed journals articles were published between 1990 and 2023 and presented the results of the MBNQA quality tool in education. According to this research, several implications of the MBNQA quality tool in education are presented. The review of the literature reveals that there are many results found about the application of the quality tool in Tertiary and Secondary education, the challenges they face in terms of innovation, human resources and operations, as well as the achievement of excellent results from the application of the methodology. The main topics supported in the literature are human resources, knowledge management and the quality of services offered for the satisfaction of teachers and students. An important limitation is that data were drawn from only two major journals (Emerald, Taylor and Francis), as implementation of the MBNQA quality tool is mainly found in the private sector. In addition, many keywords such as Quality Assurance and Business Excellence, led to application of the quality tool in businesses and organisation and little is its application in the public sector and education as a result the findings of articles were limited. An equally important limitation is that the authors did not always have got access to all databases and peer-reviewed journals, as well as in any review articles in languages other than English. This research is of interest to academic researchers, scholars and key decision makers in the field of education. The advantages recorded from the implementation of the MBNQA quality tool and the limitations from the study and presentation of the 41 articles motivate academic researchers to further study service quality in order to create a climate focused on learning for the satisfaction of students and teachers so as to fill the gap of limited publications in the field of education. Many models have been adapted to higher education including the MBNQA quality tool. The MBNQA appears to have the largest number of historical applications in higher education, with its focus on customer satisfaction and improvement information. However, the systematic literature review reveals the increasing trend of using quality tools in the field of education in recent years. Moreover, literature reviews on the use of models in this field are limited. Therefore, more research is needed to determine the benefits, as well as limitations and outcomes of applying qualitative tools in Education in the future.

A Literature Review and Emerging Trends on Key Topics of Risks and Challenges Facing Tourism Real Estate Investments

Ioannis Anastasopoulos — 2023-09-18

Tourism real estate entrepreneurs and general real estate investments face a multitude of risks and challenges that can impact their success. These risks can stem from economic, environmental, and political factors. Economical risks such as inflation and recession can affect the demand for real estate investments. Environmental risks such as natural disasters or climate change can lead to damage to the property and the desirability of the location. Political risks such as changes in regulations or geopolitical tensions can also affect the success of the investment. This paper conducts a literature review in order to mitigate these risks for entrepreneurs and real estate investors before making investment decision. This paper includes analyzing the local market, understanding the demographic trends, and identifying potential challenges that may arise. Moreover, the implementation of risk management strategies and the existence of a contingency plan can contribute to the stability and sustainability of this type of investment with a focus on real estate, especially tourism real estate. Further research and analysis are needed to better understand the impacts of technological advancements on the real estate industry. Advancements such as virtual reality and blockchain technology have the potential to revolutionize the industry, but there is still much to learn about how they will affect the market. Additionally, the impacts of climate change on the real estate industry need to be further explored. As extreme weather events become more frequent, it is important to understand how this will impact the desirability of certain locations and the potential for property damage. In conclusion, the risks and challenges facing tourism real estate entrepreneurs and general real estate investments are numerous and varied. It is essential for investors to conduct thorough research and analysis before making any investment decisions and to implement risk management strategies to protect against unexpected events.

This work has been partly supported by the University of Piraeus Research Center.

Aligning Agri-food Business with Sustainable Development and Quality of Life in Rural Areas: Stakeholders' Perspectives from Greece

Nikolaos Apostolopoulos — 2023-09-18

The present study examined how the agri-food enterprises in Greece affect the socio-economic life of rural areas and contribute to ensuring food security. It sought the extent of their contribution to the revitalization of the local community and residents’ quality of life. Furthermore, it focused on the policy measures needed to ensure that their operation protects the environment and reduces their environmental footprint. Additionally, this research explored agri-food enterprises’ impact in addressing the problems of rural societies in the context of their social responsibility. Qualitative research was conducted through semi-structured interviews with twelve central government and local self-administrative executives who formulate policies that shape or influence the agri-food sector and agri-food enterprises The study revealed that agri-food businesses play a major role in the rural economy. At the same time, they are a key factor in linking sustainable development to the well-being of citizens. It was also highlighted that agri-food enterprises in Greece continue to leave a large negative environmental footprint and therefore a change in the framework of existing policies is needed to make the latter effective. In this regard, measures are needed to support agri-food enterprises with certain financial instruments in order to enhance the reduction of their environmental footprint. Finally, the research indicated the need for further strengthening of agri-food enterprises' social responsibility toward rural residents. The contribution of this research has both theoretical and empirical value. It responds to the recent calls for greater investigation of agri-food enterprises and their contributions to sustainable development and rural residents’ quality of life as well. In this respect, the present primary study adds evidence to the international literature regarding the role of agri-food enterprises in the socio-economic life of rural areas by shedding light on various aspects while the findings can be used by the institutions (European, state, and local authorities) that are responsible for policy-making in the agri-food sector and agri-food enterprises respectively. Moreover, the findings can also be a valuable tool for the business world of agri-food entrepreneurship.

Co-creation Methodology to Promote 21st Century Skills in the Classroom Context

Luis Araújo Santos — 2023-09-18

Research studies on learning processes provide strong empirical evidence that active-learning methodologies promote students' engagement which has a positive impact on students' learning outcomes, skills, and performance. Against this background, active teaching-learning environments have seen increasing popularity over the past few decades. Several studies suggest that the implementation of new methodologies based on “ask more, instead of telling” approaches lead to an increase of students' performance. The purpose of this study is to explore the impact of an active learning unit based on innovation co-creation methodologies on students' perceptions of their learning outcomes and on the so-called 21st century skills, such as critical thinking, creativity, collaboration, and communication, in the context of a Portuguese higher education institution - the Polytechnic Institute of Coimbra (IPC). Founded in 1979, the IPC is a public higher education institution, oriented towards the pursuit of the objectives of polytechnic education, with an intrinsic vocation for applied research and the transfer of knowledge to the society. The empirical study is carried out based on data derived from a questionnaire survey applied to a class of students. Preliminary results reveal that the implementation of innovation co-creation methodologies in the classroom context is perceived by students as having a positive effect not only on the development of soft skills but also on their learning outcomes. Additionally, results give evidence that students improve their performance and therefore their final grade is higher. Results also reveal that students would like to see this active-learning methodology applied to other courses.

Towards Carbon Neutrality Through Innovation: Empirical Insights in European Countries

Jan Bajcan — 2023-09-18

In the current era where innovation and sustainability are at the forefront, businesses need to become increasingly active in implementing environmentally sustainable projects. The aim of this paper is to set initiative-taking activities for small and medium sized enterprises (SMEs) which would increase their level of engagement in innovative and environmentally responsible projects. Achieving environmental goals has never been easy given the fact that SMEs are the biggest polluters of the environment. Therefore, there is an urgent need for the leaders of these businesses to start implementing eco-innovation solutions to respond to these challenges. Our research consists of examining the current situation of the European Union's member states and responding to the objectives which have been set for them, by proposing strategic solutions for SMEs. Research also compares data between Human Development Index and Innovation Index to identify areas where there is room for improvement. These objectives concern the green development of countries, and the achievement of carbon neutrality by 2055. The results of the work points to increased attention for countries with low levels of development capability and refers to the adoption of measures taken by SMEs to help achieve the goals set. Final recommendations will describe how SMEs could implement initiatives in their businesses and where to look for sustainable and green change in their environment. Marked changes need to be made immediately in order for SMEs to adapt to these changes in order to fulfil objectives set by the European Union in a widely discussed program, Fit For 55.

Toward Universal Creativity Assessment by Untrained Judges

Thibaut Batal — 2023-09-18

The purpose of a creativity session being first to generate many ideas, how to fast and reliably assess each one’s creativity, even with non-creativity experts? Creative people appearing not only to be good at generating ideas but also at implicitly evaluating them, improving people’s assessment would further improve their own creativity. This paper investigates canonical components of originality to identify universal creative performance subscales assessable by untrained judges. Three originality criteria emerged from theoretical research: (1) Feelings, emotions; (2) Imagination, fantasy; (3) Logical complexity. One criterion was used to assess appropriateness: (4) Consistency as defined by four rules. A corpus of 100 ideas were distributed for assessments by untrained judges (n=41). All ideas were assessed by 4 expert judges on a single criterion: creativity. Surprisingly the criterion (4), which had four clear rules to define it, showed insufficient reliability and had to be disregarded for the analysis. The three other criteria proved consistent with one another and were hence reduced to an assessment of originality. They showed poor consistency with expert judges’ ratings. These results are discussed and call for further research to better understand creativity.

Innovation Adoption Research in Healthcare: Understanding Context and Embracing Complexity

Harry Bell — 2023-09-18

This paper presents a literature review on innovation adoption in healthcare. Healthcare is one of the world's largest and fastest-growing industries, driven by demands such as ageing populations, increasing co-morbidity, and improving technologies. Innovation continues to be a key driver in balancing cost containment and improving quality for health systems. However, healthcare has been slow to adopt and utilize the numerous innovations available to improve patient outcomes and efficiency. Stakeholders in healthcare innovation need to understand the influences on innovation adoption to increase the success rate of implementing innovation into practice. This literature review was conducted via searches of publication databases using selected keywords regarding innovation and adoption in general, and in healthcare specifically. Publications from academic journals and grey literature were assessed based on relevance to the topic, quality, influence, and citations. Key papers, theories, findings, and conclusions in the field are discussed in this review. The review revealed that innovation adoption has been extensively studied in multiple disciplines over decades. However, most
empirical research and theory development has taken place in the context of information technologies (IT) and their adoption in various industries and sectors. Research has mainly focused on individual acceptance and adoption of technology, which is less appropriate in healthcare due to its complex organizational structures, processes, and highly skilled workforce with significant social influence. Research into organizational adoption of innovation has been conducted, but these models have
generally been utilized less in research and practice, both in general and specifically in healthcare. Within healthcare literature, innovation adoption has been recognized as a complex and challenging issue with multiple factors influencing success. However, research and theory development have generally been more limited in this setting. The review concludes with suggestions to bring learning from disciplines with stronger theory development to the healthcare setting. A novel conceptual model specific to healthcare is posited, accounting for the complexity of the system and understanding the
process through a holistic approach. This model should be useful to and useable by any healthcare innovation stakeholder, from clinicians, to industry, to policy makers, as well as by researchers in this field.

Entrepreneurship Education in Engineering Courses: Critical Success Factors

José Bilau — 2023-09-18

The teaching of entrepreneurship in engineering study programs is an understudied area of research.. In an ever-changing economy where continuous innovation (much of it originating from engineering) is a prerequisite for a country's competitiveness and business growth, a purely technical education for engineers appears insufficient to provide organizations with a comprehensive contribution. The growing recognition of this contribution has led higher education institutions (HEIs) offering engineering study programs, which did not previously include entrepreneurship modules in their curricula, to introduce curricular units (CU) to fill this gap and encourage their students to explore the commercial potential of their research/technologies.

Concept and Impact of an Integrated Approach to Entrepreneurship in Higher Education

Beat Birkenmeier — 2023-09-18

Studies show that the intention of students at Swiss universities to become an entrepreneur has been showing a positive trend since 2013 resulting in a 18,8 percent rate in 2021. The first part of this paper documents the analysis of how the business faculties of the nine Universities of Applied Sciences belonging to the Swiss universities Association take up the topic of entrepreneurship in their Bachelor- and Master-degree programs. This part is based on an analysis of publicly accessible module descriptions of the business administration curricula. The results show that three patterns can be recognized. Firstly, a group of universities that explicitly take up entrepreneurship as a focus subject in their curricula. Secondly, a group that deals with the topic in conjunction with the topic of "innovation". And thirdly, a group of universities that do not address the topic at all in their curricula. The second part presents the case study of the "Entrepreneurship Pyramid" which is an Integrated Concept implemented at the School of Business of the University of Applied Sciences and Arts Northwestern Switzerland (FHNW) which belongs to the first group of universities mentioned above. The concept divides the entrepreneurship education into four levels. At the lowest level, there are compulsory courses for all students in the bachelor's degree programs. The next two levels are optional specializations in bachelor's and master's courses, the latter of which can already lead to founding a company. On the fourth level, there are other, mostly post-graduate offers. For this purpose, the School of Business of FHNW has built up a network within a regional ecosystem, which supports graduates in their entrepreneurial activities even after completing their studies. Start-up competitions, financing and coaching are offered in cooperation with state institutions, associations, and private companies. This part includes the results of a study which analysed how large the number of startups founded by graduates from the School of Business of FHNW is.

The Fairy Tale of Unicorns

Lamia Bouaziz — 2023-09-18

Unicorns have become symbols of entrepreneurial success and innovation-friendly’ countries. Therefore, understanding the process of diffusion of these highly valued startups has important implications for business, investors and policymakers. However, the existing literature lacks a description of the diffusion and forecast of these types of ventures. We address this gap by analyzing the diffusion process of unicorns in 8 countries (USA, China, India, UK, Germany, France, Netherlands, and Sweden) and 3 industries (Fintech, Health, and Transportation) using both 3-parameters and 4-parameters Gompertz and Logistic models. Our diffusion analyses reveal that the Gompertz model is suited for analyzing unicorn diffusion in China, whereas the Logistic model is appropriate for analyzing unicorn diffusion in the rest of the countries studied. We also find that India has the highest estimated speed of diffusion (97%) while the USA has the highest saturation level of unicorns (6241). Our forecasting analyses indicate that all the countries selected in our study, except the USA, will achieve their saturation level of unicorn diffusion around 2030. Further, results regarding unicorn diffusion by sectors show that the Logistic model is suited for analyzing unicorn diffusion in all the sectors studied. Results of forecasting analyses indicate that while the Transportation and Health sectors are expected to achieve the maximum level of unicorn diffusion in 2030, the Fintech sector need ten years more to reach this level. These findings are useful for planning, regulation, policy formulation, and portfolio decision.

Social Entrepreneurship and Innovation in Low-Density Territories: The i3Social Project

Manuel Salgado — 2023-09-18

The last decade has seen a significant increase in economic and social inequalities, especially in Portugal's inland territories. As a consequence, the increase in social needs is increasingly evident in low-density territories. In this sense, social entrepreneurs have an important role in society, to the extent that, by having more direct contact with their surroundings, they are also more alert to identify needs, which until then have not had the necessary response from public policies. Thus, social entrepreneurship, allied with innovation, can serve as a "tool" to meet social needs, as well as help combat depopulation. Thus, this work shows the social entrepreneurship activities developed within the i3Social project, which aims to clarify the aspects and dynamics of social entrepreneurship to create social businesses. In this sense, this work also seeks to give an overview of what social entrepreneurship involves, i.e., in practical terms, to show that there is a path that should and must be followed for the business idea to become effective and successful in the social intervention market.

Metaverse and Social Virtual Reality for Online Collaboration

Dario Brand — 2023-09-18

“We're at the beginning of the next chapter for the internet”, said Mark Zuckerberg in 2021 in his letter about the name change from Facebook to Meta. Social virtual reality (VR) platforms are part of the metaverse: Users immerse themselves in the metaverse using VR headsets and can interact with other users as avatars in a virtual world. During a digital conversation, non-verbal communication can suddenly be experienced in three dimensions. This raises the question of the extent to which the metaverse and social VR platforms can be used for online collaboration. Previous research has investigated how other media, such as the telephone or videoconferencing, can influence teamwork. Theories of media choice attempt to justify the extent to which communication media are chosen for particular interactions. However, there is still a research gap when it comes to including, comparing, and classifying the metaverse in these studies. In an experiment, 24 participants were divided into groups of four and given a creativity task and a decision task to solve together. The experiment tests the use of the metaverse as an alternative to videoconferencing. A standardised questionnaire was used to measure differences in use between the metaverse and videoconferencing, and variables from input-process-output models of teamwork were used as comparison characteristics. The results show that the metaverse can improve the process compared to videoconferencing. In particular, it is shown that social presence increases in the metaverse compared to videoconferencing. The quality of communication can also be improved in the metaverse compared to videoconferencing. With further development of the technology, the metaverse has the potential to replace videoconferencing in the mainstream in a few years.

Impact of entrepreneurial camp on students’ psychological capital

Tiina Brandt — 2023-09-18

Psychological capital is a positive quality that describes person’s attitudes towards work and life in general. It includes four dimensions: self-efficacy, optimism, hope and resilience. There are plenty of research of positive impact of psychological capital on individuals’ working life, and research show that short interventions impact positively into the psychological capital dimensions. Here the interest was to see if the intensive 3-weeks innovation and entrepreneurial camp impacts on the students’ psychological capital. 95 participants did answer on the questionnaire during the last week of the camp. Results indicated that impact of the camp was positive in all the psychological capital dimensions. The dimension Hope increased mostly, indicating that camp impacted positively on attitudes for target setting and finding the different paths to gain those. The dimension Resilience did not increase so much, which may be because the students were quite tired at the end phase of the camp. Interestingly those students who had intentions to start own business, had more increase of psychological capital than those who were unsure about their intentions of becoming entrepreneur. Also, students from US reported more increase in their psychological capital than European students.

Impact of Entrepreneurial Camp on Students’ Entrepreneurial Attitudes

Tiina Brandt — 2023-09-18

Entrepreneurial career choices are impacted by entrepreneurial mindset, family background and cultural values. Entrepreneurial mindset includes for example innovativeness, proactiveness, and risk-taking capacity, and entrepreneurial education has been found out useful in enhancing these qualities. Here the interest is to see how the intensive 3-weeks innovation and entrepreneurial camp impacts on the students’ entrepreneurial attitudes compared to international data sample. The 95 students representing mostly USA and European countries filled in the questionnaire which focused on identifying qualities they would need if they would start own business. This data set was compared with the data over 1000 students from various countries. Several differences were found, indicating that those students, who have learnt profoundly about entrepreneurship emphasize different qualities than those with more general level knowledge.

Experiential Marketing for Online Shopping Innovation: A Correlation in the Fashion Industry

Katherine Nicole Cabrera-Cordova — 2023-09-18

The fashion industry is in a moment of change and innovation due to the growth of e-commerce and many companies have to adapt their physical stores to online stores. This is a great opportunity for the growth of female entrepreneurship as it highlights their ability in the sector. The present research work was carried out with the objective of determining the influence of experiential marketing in the online purchase decision in the field of fashion in people between 18 and 35 years of age in Metropolitan Lima. Throughout the study, information about experiential marketing is known, as well as the current situation of e-commerce in Peru and relevant information about the fashion industry in the country. This study was conducted with a quantitative approach and a non-experimental design of correlational scope. The study instrument was applied to a sample of people who met the established criteria. A probabilistic sampling was applied, the sample size was 384 people between the ages of 18 and 35 years, residents of Metropolitan Lima (capital of Peru), men and women, who are online buyers of fashion items; the collection of information was done through the Google Forms platform. The descriptive statistical analysis of the data was performed in the SPSS statistical program, in terms of inferential statistics, Spearman's Rho was applied to determine the relationship between both variables. The results show that the factors most valued by the respondents in relation to the experiential marketing variable are: tangibility, purchase experience and exclusivity of the product; and in terms of the purchase decision, the following stand out: available information, ease of use, trust and ease of exchange or returns. Finally, we conclude on the relationship between both variables knowing that experiential marketing is positively related to the online purchase decision. Thus, this research can contribute to those companies that do not apply experiential marketing by explaining the importance of creating strategies to influence the purchase decision in online sales channels.

Entrepreneurship in Natural Cosmetics Distribution Logistics Channels in Brazil - Analysis of the entrepreneurial profile of the cosmetics distributor Bothânico Hair

António Cardoso — 2023-09-18

Technological, organizational and market integration changes, which have been taking place in the business environment in Brazil, contribute to significant changes in the search for new ways of understanding how to reinvent itself in a country that cannot guarantee economic stability. With all these changes, people seek a redirection in their professional life and new earning options and financial security. With this, entrepreneurship becomes a reality contextualized by individuals inserted in the business scenario. These individuals look for opportunities that allow them financial stability and often fulfill their dreams of opening their own businesses. The entrepreneur is the engine of the economy, he is an agent of change and motivation to overcome the challenges of commercial oscillation. In the area of natural cosmetics distribution logistics channels, the capacity to innovate, to reinvent business, processes and marketing are crucial for the sustainability of the business. It is important to know the profile and potential of entrepreneurs who work in this very competitive business area. An exploratory study was developed, with a descriptive design, using a questionnaire to obtain information about the profile of the entrepreneurs of the company Bothânico Hair in distribution logistics (case study). As participants in this research, we selected about 12 natural cosmetics professionals working as distributors of a brand of natural products. The results obtained allow us to conclude that entrepreneurs are mostly male individuals, with medium training, experience in the area and able to take risks. Also noteworthy is its ability to identify new opportunities, openness to the adoption of new technologies and interest in innovating operational processes. In the same way, entrepreneurs feel the need to invest in knowledge and professional training that allows for strengthening, greater growth and sustainability of the business. The most outstanding characteristics about the qualities of entrepreneurs were: the ability to identify new opportunities, the ability to create or improve technologies and/or processes and take calculated risks. The data obtained allowed to draw a profile of the distributor of natural cosmetics, listing the ten main items that should be valued in a professional cosmetics entrepreneur.

Enhancing Customer Engagement on the Companies' Facebook Pages in the Fuel Retail Sector

Martin Cepel — 2023-09-18

Social networks change the way how companies conduct their marketing activities. Potential customers become part of companies' marketing activities instead of just being passive participants. The ability to actively involve customers thus becomes a critical factor in the success of marketing activities. The study aims to determine how the posts' different content on the companies' Facebook pages affects the engagement of the message recipients. A retrospective, longitudinal study approach was used. Five hundred fifty-three posts from the four Slovak largest fuel retail sellers' Facebook pages were analyzed. The results revealed the significant difference in the medians of the passive engagement (χ2 (3, N = 533) = 85.685, p-value = < 0.0001) and active engagement (χ2 (3, N = 533) = 85.685, p-value = < 0.0001) according to different content types. The paired rank differences suggest that while entertainment messages (EM) significantly encourage both types of engagement (passive and active), informational messages (IM) and social messages (SM) encourage mainly passive engagement. The study extends the research on active and passive customer engagement, and thus, it contributes directly to understanding engagement and customer experience with social media and expands the knowledge about the Facebook content strategy. Finally, it offers recommendations for future research in the examined area.

Applicability of Theoretical and Practical Entrepreneurial Training and Development Programs for Start-ups

Elizabeth Conradie — 2023-09-18

The main aim of the study is to find the gap between expectations and perceptions of entrepreneurial students regarding the service quality of the Entrepreneurial Development Program (EDP) they are enrolled at the idea-GYM, Central University of Technology in the Free State Province, South Africa. Expectations of a customer or a student refer to the beliefs about a service delivered by a company or institution as a standard or reference point against which the performance of the service received afterwards is judged. Knowing what the customer or student expects is a very important departure point in overall service delivery process. Customer perceived value is all about the quality service received and the satisfaction levels around the received service. Satisfaction is generally the broader concept, while service quality is focused specifically on the service delivery dimensions. A stratified random sampling technique was used to collect the data from the EDP students on the program of 2021 and 2022. Students completed the questionnaire on expectations before they started with the EDP program and then after the last session of the program, they completed the perception questionnaire. The results indicated that there were differences between the expectations and perceptions of the students related specifically to empathy and tangible dimensions of service quality. There were some significant differences between the expectations and perceptions of the students towards the service quality of the EDP which in most cases the perceptions were higher than what they expected beforehand from the program. Research limitations: The data was only collected from the current students attending the EDP program in 2021 and 2022. Moreover, the study focused only on the EDP program and the content within the program. The research methodology of this study is based on a pre-evaluation (expectations of the EDP program) and a post-evaluation (perceptions of the EDP program) after they were done with the content of the program.

Factors Influencing the Entrepreneurial Intention of University Business Students: Evidence from Lima-Peru

Franklin Cordova-Buiza — 2023-09-18

Entrepreneurial intention has become a question, and in order to investigate its study, this research was based on the Theory of Planned Behaviour, which takes as dimensions the entrepreneurial attitude, the subjective norm and self-efficacy. The purpose of this research is to identify the factors that influence the entrepreneurial will of university business students in Peru. For this purpose, the study method used is mixed, cross-sectional and non-experimental; it comprises a quantitative analysis with a sample of 400 university students, to whom a virtual questionnaire was applied; and it is complemented with a qualitative analysis through videoconference interviews with 11 experts in entrepreneurship in the Peruvian and international context, made up of business career coordinators, university business incubator coordinators and student entrepreneurs. The results highlight as factors in entrepreneurial intention the desire to be independent (65%), the challenge in practice of creativity and innovation (62%), the enjoyment of knowledge about business genesis strategies (55%), also the development of soft skills such as leadership and resilience, as the merit of attributing technological tools within the business, notions highlighted by the qualitative analysis. It is concluded that universities should take these factors into account in the design of competencies in their student curricula, creating programs that generate an entrepreneurial ecosystem, and with it, the formation of companies, new jobs and socioeconomic improvement.

Transformative Business Models for Decarbonization: The Case of Web Summit Award-Winning Start-ups

Jose Evaldo Geraldo Costa — 2023-09-18

The social demand for decarbonization has placed increasing pressure on businesses to climate mitigation. The development of new business models capable of transforming conventional systems of production and consumption and replacing them with more sustainable alternatives is one critical step towards this goal. This study combines several streams of literature including sustainability transitions and business model narratives to investigate the key-elements of the business models that have the potential to transform the supply of goods and services in a way that enables the transition to a low-carbon society. We investigate the organizational arrangements in the business activities of start-ups and relate to the extent to which they avoid, shift, or improve the production and consumption of goods and services in a way that significantly reduces carbon emissions. To do this, we analyzed start-ups that received innovation awards and were on the list of finalist’s candidates of the Web of Summit between 2014-2020. The results suggest that start-ups may be in the process of transforming their business models (BM), since a growing trend of transformative projects that adopt integrated business models was identified, e.g., business-to-business-to-commerce (B2B2C), instead of the familiar business-to-business (B2B) and business-to-consumer (B2C) models. The findings also highlighted the role of Industry 4.0, such as artificial intelligence (AI) and machine learning (ML), together with other sustainable elements, as crucial to shortening the gap between design and consumption, leveraging innovative solutions, and transforming the model of business, from start-up. This research emphasizes the importance of transformative business models in the context of decarbonization and contributes to filling a gap in the literature on the elements that drive this transformation. The research is also relevant for policymakers aiming to promote a low-carbon economy by highlighting the levers that can be used to promote transformative pathways through business models.

The Impact of the COVID-19 Pandemic on Courier Delivery Innovation: InPost Company Case Study

Magdalena Czerwinska — 2023-09-18

The COVID-19 pandemic has changed many markets, including the courier market. This market still has great potential. Thanks to the introduced innovations and due to the growing demand for courier services and the development of e-commerce, it is currently one of the most dynamically developing industries. In the face of the pandemic, courier companies had to adapt to the new operating conditions. The implementation of innovations (i.e. parcel lockers) has become one of the key development trends in the contemporary mechanisms of for creating the competitiveness of enterprises. Parcel lockers introduced by InPost in Poland in 2009 now operate in other countries, there are over 23,000 of them in Europe. They are also located in Asia, both Americas, as well as in the Middle East and Africa. The aim of the article is to show the reaction of courier companies to the COVID-19 pandemic through the example of InPost. The article also demonstrates that difficult pandemic conditions cause adjustment processes on the courier market related to the implementation of innovations by courier companies. Various innovative solutions introduced by InPost during the pandemic were analysed. The main features of InPost courier services that distinguish the company's activity compared to its competitors have been identified. It was shown that the company reacted innovatively to the difficult pandemic conditions, and its actions were positively assessed by consumers. To support this view, in the empirical part of the article, we will look at the research conducted in 2021 in Poland. The survey was conducted among young consumers (students of Lublin University of Technology aged 19-26).

Tapping into Digital Technologies in Corporate Entrepreneurship: an Exploratory Multiple Case Study

Stefano D'Angelo — 2023-09-18

Digital technologies can enable entrepreneurial processes and outcomes. However, current implications for scholars and practitioners on how to exploit the emerging digital technologies for entrepreneurship in the corporate context, i.e., corporate entrepreneurship, remain unclear. This issue is even more relevant today where the growing pervasiveness of digital technologies finds increasing applicability in corporate entrepreneurship activities. This present study contributes to the academic debate on corporate entrepreneurship in the digital era by offering an exploratory multiple case study – based on semi-structured interviews – that involved four incumbent organizations to deepen the knowledge of the role played by digital technologies in corporate entrepreneurship. We provide empirical evidence on how incumbents can exploit the enabling role of digital technologies to foster corporate entrepreneurship activities. Specifically, we document three enabling mechanisms of digital technologies in corporate entrepreneurship: (i) increasing the number and heterogeneity of inputs for corporate entrepreneurship activities; (ii) increasing the visibility of actors and resources involved in corporate entrepreneurship activities; (iii) accelerating innovation adoption rate in incumbent organizations. The outcome of this study is a framework that discusses the managerial actions required to support incumbents in making corporate entrepreneurship more prolific through digital technologies. In doing so, this study contributes to research on corporate entrepreneurship in the digital era. Results are of interest also to managers and practitioners, providing them practical insights to exploit the enabling role of digital technologies for corporate entrepreneurship activities.

Corporate Effectuation in the Digital Age: the Role of Absorptive Capacity and Digital Skills

Stefano D'Angelo — 2023-09-18

Effectuation has become a highly influential decision-making logic for entrepreneurs. While most studies have viewed effectuation as an approach to managing resource constraints in the new venture context, few of them have directly investigated the effects of effectuation as an approach to absorptive capacity (AC) in the corporate context. Specifically, the relationship between the usage of an effectual logic and its impact on the knowledge of individuals remains underexplored in corporate entrepreneurship (CE), i.e., entrepreneurship in incumbent organisations. Moreover, in a digital world characterised by the growing proliferation of digital technologies, digital skills can support the learning and knowledge absorption process of individuals in incumbent organisations facilitating the development of corporate innovation. By using the survey data from employees of an incumbent firm, we test hypotheses developed to examine the relationship between effectuation and entrepreneurial orientation (EO) as well as the mediating role of AC and the moderator role of digital skills in this relationship. The empirical results generally support our hypotheses by showing that (i) effectuation positively influences AC, and (ii) digital skills have a positive moderating effect on the relationship between effectuation and AC. No significant results emerged concerning hypothesis (iii) AC mediates the relationship between effectuation and EO. Drawing upon the findings of this study, we reframe effectuation as a concrete activity that enhances knowledge absorption and enlarges the scope of opportunities, and in turn fosters entrepreneurial actions in organisations. In doing so, we advance the extant understanding of corporate effectuation in the digital era, providing also managerial implications.

Corporate Experimentation: Antitode or Oxymoron?

Stefano D'Angelo — 2023-09-18

Experimentation in entrepreneurship has become the basis for the most influential approaches, e.g., lean startup, to launch and develop new ventures. Recently, the ideas developed around experimentation, strongly rooted in the startup context, have begun to be adopted by incumbent organisations, with the promise that these experimentation approaches can benefit corporate entrepreneurship activities, i.e., entrepreneurship activities in the corporate context, despite the established and corporate bureaucratic processes and practices. While there is a growing and significant body of literature investigating experimentation in the startup context, there is no corresponding research exploring the peculiar implications of experimentation in corporate entrepreneurship. Furthermore, current indications for managers and practitioners on how to exploit the benefits of experimentation approaches in the corporate context appear unclear. This issue is more relevant today when companies have to face fast-changing customer needs and market trends, as well as the design of complex value propositions. Through an exploratory multiple case study - based on semi-structured interviews – involving three incumbent firms, this study explores how experimentation is conducted in incumbent organisations and used as a tool to support corporate entrepreneurship. This study provides detailed empirical evidence on how incumbents can adopt experimentation approaches in the corporate context, together with a set of specific managerial practices. Specifically, we document corporate experimentation challenges at three levels of analysis: (i) experimentation-level challenges; (ii) firm-level challenges, and (iii) network-level challenges. Based on the findings of this study, we contribute to research and practice on experimentation in corporate entrepreneurship.

Revisiting the Effect of R&D intensity on innovation Performance: An Instrument Variable Approach

Raymond Kwaame Adane Darfo-Oduro — 2023-09-18

The literature on innovation performance makes clear the important role of R&D in innovation performance. Studies that have investigated this relationship have generally assessed the effect of R&D investment on innovation performance. It is important to note that innovation performance and R&D investment are known to be closely associated with the possibility of reverse causality. Regressing innovation performance on R&D expenditure therefore poses an important statistical challenge of endogeneity. In the presence of endogeneity regression parameter estimates are biased and inconsistent and therefore hypothesis testing may be misleading. Using data from different sectors of OECD economies sourced from the OECD data base, instrumental variable analysis is conducted through a two stage least square using the number of R&D personnel as instrument. Again, the literature assumes that innovation is an increasing function of R&D. However, considering R&D is combined with other factors, some of which are fixed, the possibility that R&D will experience diminishing returns cannot be overlooked. This means that the dominant linear relationship authors specify in these studies may not be wholly accurate. We captured this effect by modeling a quadratic relationship to reflect the diminishing returns to innovation performance. The findings of the study show that the number of R&D persons exhibit a nonlinear inverted U-shaped relationship with innovation performance. The policy implication of the findings of the study is that R&D activities must be commensurate with the size of other organizational factors to ensure that changes in R&D activities solicit a favourable response from innovation performance.

Innovation Culture in French Organisations

Muriel Davies — 2023-09-18

The aim of this study was to measure the relative impact of culture and processes on innovation performance. Contrary to processes, culture represents all implicit factors influencing daily behaviour. Culture gathers the unwritten rules of the social game and serves as social cement for an organisation. Processes correspond to identified and formalised practices and rules, including having a dedicated team or qualified collaborators for running product design and development, for example. Based on the scientific literature, we designed a survey to assess these three sides of innovation (culture, processes and performance). We analysed the answers of 432 French innovation managers in order to identify the predictors of Innovation performance. The whole model appears highly explanatory and shows that innovation culture holds a predictive power nearly four times as high as innovation processes. In particular, eagerness for radical change, which is not so common in French organizations, is the strongest predictor of innovation performance. Collective discovery skills and innovation climate were also good predictors of innovation performance, whereas risk aversion and tradition appear as marginal negative predictors. . These results are original because practitioners and researchers mainly produce guidelines focused on innovation processes, methods and tools as if they were the only drivers of innovation. However, the major challenge for stimulating innovation could be to understand the organization’s culture and design processes that will be both congruent to the existing culture and likely to initiate a first step to cultural change, which remains long and uncertain.

From Failing Forward to Thriving

Roberta Dutra de Andrade — 2023-09-18

Drawing on entrepreneurial cognition and experiential learning theories, this article explores the complexities of entrepreneurial learning from business failure and its reflections on the entrepreneurial ecosystem. Qualitative research was conducted through individual in-depth interviews and focus groups, and data were subjected to content analysis using NVivo software. The analysed data relate the nature of the failure to its reflections on entrepreneurial learning and the most relevant contents used in the resurgence of the entrepreneur. How the entrepreneurial ecosystem absorbs and recycles learning from failure impacting new business creation was analysed. This study explored emerging economies’ themes based on the triangulation of data from startups from different industries and maturity levels from the perspective of founding partners, directors and employees and incubator and accelerator managers. The article offers a vision of entrepreneurial learning due to exceptional failure. The results presented in this paper demonstrate that learning from a critical event profoundly impacts the performance of entrepreneurial ecosystems and influences their vocation and the accession of new ventures to the industries analysed. These results encourage research in areas such as learning to model or replicating the proposed approach in other ecosystems. In practical terms, the findings can support policymakers in identifying localised factors that can be leveraged to produce macro-level change by identifying appropriate incentives for social networks and experiential knowledge sharing. The article presents a new perspective on entrepreneurial learning. It offers evidence that micro-learning strategies adopted and developed after critical events impact the performance of the entrepreneurial ecosystem related to the creation and diffusion of new ventures.

A Value Proposition Analysis of Emerging Circular Economy Business Models in the WEEE Sector

Tirufat Dejene Woldeyes — 2023-09-18

Due to the rapid economic growth, growing demand for high-tech products, and decreasing service life of products, global waste generation from the electrical and electronic equipment sector is increasing. From the environmental and economic perspective, the circular economy (CE) emphasizes e-waste prevention as it is one of the fastest-growing waste streams having both valuable and rare materials as well as toxic substances. It is common to manage electrical products at their end-of-life through circular practices however, knowledge and implementation of CE in the waste electrical and electronic equipment (WEEE) sector still need to be improved. End-of-life practices center on recycling, and the percentage of valuable resources recovered is low. There is a missing insight into the business opportunities for alternative end-of-life options such as reusing, repairing, and re-manufacturing that hold stakeholders from implementing circular strategies. To fill the gaps identified, we developed a research question for investigating and analyzing the services offered and the electrical products adaptable to CE business models (CEBMs) of young companies operating in the WEEE. This study aims to explore the business models (BMs) of circular practice-based business options such as buyers and sellers of used and refurbished electronic devices, information technology asset dispositions (ITADs) companies, and e-waste recyclers to enhance other researchers with a better understanding of business options toward end-of-life e-waste handling and emerging issues in this industry. We conduct a literature review on CEBMs in the WEEE and conduct a multiple-case analysis of 412 emerging circular companies in the WEEE selected from the Crunchbase database to explore their BMs. Key findings show that most young WEEE companies focus on IT and telecom equipment and consumer electronics. Emerging WEEE companies mostly involve asset management and e-waste Recycling service, followed by ITAD services, trade-in/buyback, and reselling of preowned and refurbished electrical devices service, and e-waste collection, recycling, and disposal service. These companies provide unique offerings such as information security, compliance, trustworthiness, convenience, quality, social responsibility, and charitable purpose. Studies in the future may explore other dimensions of these BMs to gain a comprehensive picture and support the design of CEBMs.

Understanding Social Responsibility in Portuguese Companies: Characteristics, Innovations, and Stakeholder Perspectives

Teresa Dieguez — 2023-09-18

Social responsibility has emerged as a crucial topic in the corporate landscape, recognized by market perception as a valuable asset for gaining a competitive advantage. This voluntary initiative by companies is driven by social and ethical engagement, leading management to seek shared values and positive interactions with stakeholders. This study aims to identify the characteristics of companies adopting social practices and evaluate innovative social responsibility practices in Portuguese companies. Furthermore, it explores the understanding of social responsibility among companies and stakeholders, examines motivations behind employing these practices, analyses the benefits of their inclusion, and identifies the main challenges hindering their implementation. Data were collected through questionnaires administered via the Google Forms platform. The findings reveal that most respondents consider social responsibility relevant to the company's growth and development, placing emphasis on human capital as a vital organizational asset. Motivations primarily revolve around worker welfare and satisfaction. Key benefits include proactive positioning, strategic integration, and decision-making incorporating social concerns. Major obstacles include the absence of direct profitability, resistance from older employees, limited resources and time for action and innovation, lack of participation, employee mistrust, and inert mindsets. The article concludes by discussing limitations and suggesting avenues for future research

EPI2C Entrepreneurship & Design Thinking

Rick Edgeman — 2023-09-18

Entrepreneurship is a high-stakes, action-oriented game played on a field defined by competition and collaboration. However, across academic entrepreneurship programs, education formats range from almost exclusively classroom-based to highly experiential to hybrid. The entrepreneurship program at the authors’ institution has generally favored traditional classroom boundaries, augmented by non-mandatory experiential opportunities. Realizations derived from the covid-19 pandemic and ensuing movement to virtual instruction are driving rapid, ongoing change in the institution’s entrepreneurship program. Pandemic-driven isolation and additional isolation resulting from largely asynchronous virtual delivery of education have had negative impacts. Changes have been enacted to combat these factors that are generally antithetical to the hands-on nature of entrepreneurship, while contributing to decline in entrepreneurial performance across an array of measures. Seen in the face of the same factors, was a marked increase in business plan proposals featuring apps, creations, or other solutions emphasizing human-interaction. Relative to entrepreneurship education, these increases are taken to indicate hunger for (predominantly) face-to-face competition and collaboration. When linked with broad trends toward social and environmental responsibility, clarity emerged as to the sort of pivot needed in the trajectory of entrepreneurial and other education at the institution. The transformation in trajectory is captured by the motto “do good, make a difference, change the world”, symbolizing determination to focus on things that matter. Similarly, the pivot is captured by the acronym EPI²C, representing five targeted program aspects: “Experiential, Purposeful, Imaginative, Innovative & Creative”. Together, these drove rebranding of the program as “EPI²C Entrepreneurship & Design Thinking”, thus highlighting the enabling role of design thinking in many entrepreneurial endeavors. Delineated herein is program reinvention driven by the preceding motto; use of United Nations Sustainable Development Goals (UN SDGs) to support the motto; the role of design thinking; the relationship specific meanings and distinctions among the EPI²C descriptors; and specific program innovations. Also discussed is improved student performance associated with program reinvention.

International Quality Award Models: Innovation Enablers or Inhibitors?

Rick Edgeman — 2023-09-18

Historical development of models and criteria supporting major international quality awards is driven more by continuous or incremental improvement than by breakthrough improvement. This has been the case in particular relative the most enduring such awards - the European Foundation for Quality Management (EFQM) Business Excellence Award, America’s Baldrige National Quality Award for Performance Excellence (MBNQA), and the Shingo Prize for Operational Excellence. In possible contrast are initiatives such as the United Nations Sustainable Development Goals (UN SDGs) and the imputed urgency for improvement, innovation and change associated with these, due in large to the sheer scope and magnitude of change needed – especially with respect to societal or environmental challenges. While sufficiently rapid iteration across a large enough number of cycles has the potential of rivaling the magnitude of innovation attained through a focus on breakthrough improvement, such an approach is unlikely to precisely match the destination of innovation attained through breakthrough improvement approaches. One significant reason is that incremental improvements often target minor course corrections with well-defined trajectories, whereas breakthrough efforts target larger strides with more mystery between the point of origination and the targeted destination. Differences in these approaches impact products and services reaching the market in many ways, hence impacting their marketplace performance. Among differences of note are ones in the natures of the product or service brought to market, the timing of their market arrival, the levels of creativity and innovation required, design innovations introduced, consumer receptivity and perception of iteration vs. innovation, perceived impact, consumer perception of the company, and – not to be ignored – risk and reward elements. Questions explored herein are whether the models and criteria used by international quality award frameworks enable innovation and entre-intrapreneurship, inhibit these, or are innovation and entre-intrapreneurial neutral. Similarly, the impact of the UN SDGs in relation to innovation are discussed.

Startup Competitions Decoded: Unpacking the Phenomenon's Dimensions

Malek Elmi — 2023-09-18

Drawing on a typological theorizing style (Cornelissen, 2017), this paper investigates and deconstructs the fuzzy nature of startup competitions (Cornelissen, Höllerer and Seidl, 2021). Despite the pivotal role that startup competitions play in promoting innovation and shaping policies related to business creation and welfare there exists a scarcity of comprehensive research that thoroughly investigates the organizational architecture and overall effects of these contests on entrepreneurial ecosystems’ actors. Furthermore, the presence of conceptual fragmentation necessitates a process of synthesis to prevent the dispersion of scientific efforts and to enhance understanding of the essence and constituents of the phenomenon (Ferreira, Fernandes and Ratten, 2016; Howard and Crayne, 2019; Law, Wong and Mobley, 1998). The methodology utilized in this study is a validated approach that combines a systematic literature review with subsequent inductive analysis of the selected articles (Thomas and Tee, 2022). This article makes two distinct contributions to the existing body of literature. First, this study contributes to the startup competitions and entrepreneurship literature by providing a typological theoretical framework that examines the conceptual dimensions of this phenomenon. Additionally, this research seeks to identify the key actors involved in these competitions and emphasize the potential of utilizing such events as intervention tools at micro and macro-organizational levels. Furthermore, this study makes a valuable contribution to the existing body of literature that examines the intersection of entrepreneurship and organizational studies. This study presents a theoretical framework that focuses on the unique characteristics of organizational actors involved. It illustrates the potential design of multiple SUCs architectures based on the objectives and deliberate impacts that these actors aim to achieve. From the perspective of managerial implications, this work provides fuel for thought and a practical instrument for all organizations that intend to conduct a startup competition on purpose. This paper functions as an in-depth guide for all relevant stakeholders, including organizers, participants, accelerators, incubators, and other involved actors. This phenomenon illustrates how each actor is prompted to take action upon acquiring a specific scope.

Who am I as an Entrepreneur? Exploring Formation of Entrepreneurial Identity

Ingunn Elvekrok — 2023-09-18

This paper explores how participation in accelerator programs, which are aimed at scaling ventures, influences the self-perceptions of the participants. An entrepreneur’s identity is considered important in both theory and practice, but few studies have investigated how the identities of entrepreneurs/founders are affected by their participation in a program that is aimed mainly at the venture and not the person behind the venture. By providing access to resources, mentorship, and support, which help entrepreneurs test hypotheses and problems, as well as identify markets and business models for their ventures, an accelerator helps entrepreneurs increase their confidence, skills, and knowledge. These factors are important because they enable entrepreneurs to better understand themselves and their perceived opportunity space and choice of actions. Data were collected through in-depth interviews with 14 entrepreneurs that had participated in two different accelerators with slightly different programs. The findings indicate that the accelerators influenced both the personal identify and role identity of the participating entrepreneurs. However, the impact of the accelerator varied according to the self-perceptions of the entrepreneurs’ pre-participation and how far they had come in developing their business concepts. Their admittance to an accelerator in itself boosted their identities. We found no difference between the private accelerator program (PA) and the governmental program (GA). The paper contributes to the literature on entrepreneurial identity formation and the effects of accelerators.

Patterns of Successful Founding Team Composition and Funding Outcomes

Francesco Ferrati — 2023-09-18

When it comes to assessing a startup’s chance of success, equity investors apply a specific set of criteria to minimize risk. In their decision-making process, most venture capitalists (VCs) agree with giving priority to the team composition, hence the popular saying: “Always consider investing in a grade-A team with a grade-B idea. Never invest in a grade-B team with a grade-A idea.” In this paper, we explore the profile of technology-based startup teams that are most likely to secure a Series-A funding round from VCs. From a methodological point of view, we applied a strongly quantitative approach, integrating several data mining techniques according to a multidisciplinary perspective, between data science and entrepreneurship. As for the company information, we used Crunchbase as our primary source, considering a set of U.S.-based startups founded from 2000 to 2017. For each venture we algorithmically integrated team-related information from the founders’ public LinkedIn profiles. Overall, we analysed more than 2,100 teams, involving a total of about 4,600 founders. Each founders’ experience was analysed by considering their professional background. Overall, more than 29,000 work experiences have been taken into consideration. Statistical analysis was carried out on both individual founders and their team organization. Both founders and teams were evaluated in terms of heterogeneity of prior experience and similarity of co-founder profiles using the Gini coefficient and Jaccard index, respectively. Statistics are expressed according to the companies’ sector and their fundraising profile. In fact, the different sectors are mapped on a 4-quadrant chart to identify different combinations between founders’ profiles (specialists VS generalists) and teams characteristics (combining co-founder with similar or diverse background). Results reveal the impact of team similarity and variety in terms of prior working experience. The findings provide valuable insights for scholars dealing with tech-driven startups teams, aspiring entrepreneurs looking for co-founders and for VCs seeking to invest in promising startups.

The Multidimensional Role of Social Entrepreneurship: A Case Study Approach Within an International Project Context

Maria de Fátima Ferreiro — 2023-09-18

Social entrepreneurship creates social value and has a multidimensional impact (e.g. economic, environmental, cultural). This is related to the complexity and multidimensional approaches to current societal problems such as climatic changes and socioeconomic crises. The paper explores this multidimensionality by presenting three Portuguese case studies of social entrepreneurship operating in diverse domains. The study is based on primary and secondary data on the selected social enterprises. The analysis explores the motivations and constraints in forming a social enterprise and the impact of entrepreneurial activity. There is evidence of multiple roles played by these entrepreneurial agents, and, therefore, their critical role in the response to the problems that current societies face.

Technological change and the Interplay of Strategic Innovation and Business Model Innovation

Antonio Ghezzi — 2023-09-18

Technology-enabled innovation has increasingly puzzled and attracted strategists, since it offers opportunities to create new sources of value by challenging traditional approaches. To address this topic, research efforts have focused on the emerging construct of Business Model (BM), that describes how an enterprise creates and delivers value to customers, enticing them to pay and converting payments into profits. However, the relationship between Business Model Innovation (BMI) and Strategic Innovation (SI) is still unclear. This study investigates this relationship by examining the role of technological change in it. To this end, we propose a conceptual framework that classifies technological change according to three dimensions: trajectory, intent, and effect. Second, based on this framework, we conduct a multiple-case study with 16 companies to identify different innovation paths that arise from the interplay between SI, BMI, and technological change. Our findings reveal eight types of innovation paths that depend on the mediating or triggering role of the technological change faced. This result suggests a transitivity in the BM-Strategy and BMI-SI relationships. Change is the essence of BMI and SI, both their origin and outcome, and acts as the fil rouge that connects SI with its execution through BMI. Additionally, we shed light on the role of different actors (top, middle and low management and key employees) in SI and BMI, depending on their level of technological change empowerment. The study shows that BMI can survive without supervision and strategic commitment from top management, being primarily led by line managers and employees invested in experimentation at an operational level. This claim reveals the need to focus on the “technological change empowerment” given to line management and employees, balancing it with an ability to supervise and consolidate BMI. Overall, this study contributes to a better understanding of the relationship between SI and BMI and the role of technological change in it. Our findings provide insights for firms to strategically operate and govern technological change and leverage it to innovate their business models.

Venture Client Model: A systematic Literature Review

Lennard Haarmann — 2023-09-18

Established companies are increasingly opening their innovation systems to stay ahead of the competition. In this context, collaboration with innovative and agile start-ups are gaining continuously more importance. In the past established companies often used common corporate venturing methods such as incubators, accelerators, or corporate venture capital for collaboration. Compared to these methods the venture client model is relatively new and was invented by BMW employees in 2014. Using the venture client model, established companies become early clients of the start-ups even it is still a venture to do so. Together they carry out a pilot project to develop a proof of concept and validate it under real conditions. If successful, they enter a long-term collaboration to integrate the start-up’s solution into products, processes, or business models of the established company. The aim of this paper is to sum up the current literature and set a foundation for future research on this topic. Therefore, we conduct a systematic literature review. As a result, we provide a definition of the venture client model, describe characteristics, present advantages from the perspective of established companies and start-ups. In addition, we summarize the state of research regarding strategy, process, and organizational structure and for the venture client model. In terms of strategy, future research should elaborate defining elements of a strategy as well as ways to integrate the venture client model into the corporate innovation-ecosystem. Focusing on the process additional research is needed on a venture client reference process and its integration into the corporate’s core processes. Referring to the organizational structure a reference architecture for a venture client unit as well as its positioning within the organization (e.g., innovation management or corporate strategy) should be further investigated.

Social Entrepreneurship in the UAE: An Exploration of Undergraduates' Attitudes, Motivations and Intentions

Angela Hamouda — 2023-09-18

This exploratory study examines the attitudes towards social entrepreneurship amongst a group of students in an early cohort mandated by the government to undertake entrepreneurship education. As such, the study collects responses from students across a range of disciplines, focusing on their interpretation of the impact and importance of the education they have received and how it relates to (and motivates) them to pursue entrepreneurship, and social entrepreneurship in particular, themselves. As a ‘first step’, this initial study highlights areas which should be examined in detail through qualitative methods and suggests early indications for elements which would be useful in a framework to support policy and community interest in social entrepreneurship endeavours.

Innovative Digital Marketing Strategies to Increase Demand in a Hotel Company

Jorge Daniel Hernandez-Padilla — 2023-09-18

In recent years, there are still companies which have not opted yet to diversify, boost or develop the promotion of their range of services in the hotel industry, focusing the vitality of their sales in seasons of high tourist flow, but their level of demand is declining in regular periods. This is due to among other factors, to changes in the behavior of today's customers, who place their trust in verified and licensed channels which are part of digital marketing. Therefore, digital marketing has gained great relevance in business, which is originated by the technological advance of media, positioning digital marketing as a strategic and a necessary tool to publicize a service and significantly increase customer demand. In this case, the objective of this research is to determine the digital marketing strategies to increase demand in a hotel company in a country with an emerging economy. The methodology used in the research is a mixed type, because the information was collected through a qualitative and quantitative approach, the sample is non-probabilistic and intentional, a questionnaire was applied to customers and also interviews to administrative staff. The data was processed through Ms Excel software and presented in frequency tables and figures for interpretation. The results show the great importance of the use of digital marketing strategies such as Search Engine Optimization (SEO), Social Media Marketing (SMM) and Pay per Click, which present applications with great flexibility to acquire services, a great scope of visibility in search engines and all web content updates. Finally, it is concluded that the digital marketing strategies identified were decisive in increasing demand in the hotel industry.

Start-up Incubators for Refugees: Applying Psychological Methods to Increase Chances of Entrepreneurial Success

Andreas Hinz — 2023-09-18

An increasing number of start-up incubators offer programmes designed specifically for refugees. They provide entrepreneurship training and access to a closely-knit community for start-up development. Beyond that, they also support refugees in overcoming typical challenges, including a lack of language skills and required qualifications, an uncertain residence status, discrimination and psychological distress on various levels. While these incubators have already contributed to refugees’ social and economic integration, the number of successful participants is still relatively low. The question remains about what can be done to multiply the potential so that more significant numbers of refugees can benefit. To support incubators in achieving more significant numbers, this work presents a framework of methods and tools based on health and organisational psychology literature. More specifically, this work focuses on methods and tools to be applied during two critical phases of the incubation cycle, namely the selection process and the actual programme. First, suitable candidates may be overlooked and/or less suitable candidates admit-ted during selection. This work proposes approaches to improve the accuracy of assessment methods so that more significant numbers of candidates with good chances of success are admit-ted. In addition, these methods can help identify those candidates who may appear unsuitable at first sight but could likely get ready with a preparatory course before joining the programme. Second, participants may have difficulty keeping up during the programme for various reasons (often related to the mentioned challenges) and therefore drop out early. This work proposes science-based approaches which help to adapt and improve existing programme elements and/or implement new elements to increase the chances of successful programme completion. Overall, this work seeks to contribute to the academic discussion on innovative approaches to upscale the work of incubators for refugees. Further research will involve co-developing practical approaches with incubators for refugees, cooperating on the implementation, and measuring impact. The goal of providing incubators with relevant practical insights is to deploy more significant numbers of refugees as entrepreneurs and contribute to broader social and economic impact.

How Applying the Lean Start-up Methodology can Affect Business Model Innovation

Andreas Hinz — 2023-09-18

Start-ups often apply entrepreneurial approaches like the Lean Start-up Method (LSM) and Business Model Innovation (BMI). LSM emphasises experimentation during product development and testing in close interactions with potential customers to get first-hand feedback. Lessons learned are implemented so that improved product variants go through further feedback loops and so on. Products are developed by rapidly getting closer to what customers really want. BMI focuses on altering existing or developing new business models to enable differentiation from competitors. Typical elements of business models include target customer segments, value propositions, value chains and revenue mechanisms. BMI is assumed to take place when at least two of these elements are innovated in conjunction. Going beyond typical product or process innovation in isolation, BMI suggests to holistically consider interdependencies within the entire business model. The need for a better understanding on connections between LSM and BMI is expressed in the literature and this work’s goal is to contribute to this discussion. More specifically, this work seeks to address the question of how the application of LSM can affect BMI. In search of answers, business plans of 25 finalist start-ups in the 2022 edition of an annual innovation competition in Switzerland are reviewed. While the evidence on the connection between LSM and BMI is not entirely convincing, reviewed business plans reveal insights into LSM-related factors at play that can support business model changes and trigger BMI.

Circular Economy in SMEs – The Role of Commitment to Sustainability and Digitalization

Antonia Hoffmann — 2023-09-18

Small and medium-sized enterprises (SMEs) are a decisive part of the efforts against climate change. However, they are late in terms of sustainability and circular economy (CE). Little is known about the factors that facilitate the implementation of CE practices in SMEs. Due to CE leading to cost savings, new business models or reputation gains, companies can achieve a competitive advantage. To realize this competitive advantage the strategic orientation of a firm is pointed out. Various theoretical papers have shown how CE can be enabled and how it can be inhibited. However, empirical studies that support the existing literature are lacking. The goal of this paper is to investigate the influence of two mechanisms, namely commitment to sustainability (CtS) and digitalization as strategic orientations on CE implementation. Therefore, we conduct a study with a self-developed sample of 754 German SMEs. Using multiple linear regression analyses, the results show that digitalization and CtS positively influence CE implementation in SMEs. Interestingly, the complementary effect of pursuing a dual strategy toward digitalization and sustainability is not significant for CE implementation. Our study contributes to the CE literature by giving a nuanced understanding of various antecedents of CE implementation. This study provides several approaches for managers of SMEs to improve their CE practices. First, digitalization is indeed an effective tool for implementing CE practices. Therefore, practitioners should strengthen their digitalization efforts when considering increased CE implementation. Second, a general focus on sustainability increases the implementation of CE practices. Therefore, practitioners should raise awareness of sustainability throughout the organization. Third, the combined focus on CtS and digitalization needs to be carefully considered. To implement CE, digitalization should be embedded in the sustainability strategy. Due to the liability of smallness, SMEs should seek their resources for digitalization and sustainability commitment not only within but also outside the company boundaries.

Entrepreneurial Hospitality Businesses: Application to a New Consumer Purpose Model

Yuchin (Jerrie) Hsieh — 2023-09-18

This paper applies a proposed concept of underlying consumer purpose and psychological bonding to the entrepreneurial hospitality industry, including hotels, restaurants, and bed and breakfast establishments. Since the worldwide COVID-19 pandemic, the industry has seen a huge surge in pent-up demand. Event planners’ expectations have risen. Students are flocking to the industry where there is almost a guaranteed employment upon graduation. The hospitality industry, being one of the largest industries worldwide, faces intense market competition. To succeed, it relies on various factors, including customer satisfaction, loyalty, trust, affective commitment, and share of wallet The model applied in the paper has recently been published in the Journal of Asia-Pacific Management. The model synthesizes multiple theories, that includes need fulfilment theory, goal theory, and congruency theory. The purpose of this paper is to illustrate that a comprehensive understanding of consumers' needs, goals, values, and self-image is crucial for marketers to enhance service experiences, achieve sustainable success, and help consumers attain their desired psychological outcomes. To combat this somewhat sceptical view of service mix development benefitting the hotel firm primarily, we propose the need to broaden hotel marketing and innovation strategies to include recognition of purposeful fulfilment of consumers' psychological needs/tasks, goals, values, and self-concept. Doing so will strengthen the organizational commitment to hotel consumers, leading to sustainable success for the hotel firm and other hospitality-related businesses. To exemplify further the usefulness of consumers' underlying purpose, we have supplied a variety of hotel examples in figures that demonstrate how hotels can create innovative products or services by utilizing a single meaningful purpose to communicate distinct competencies in meeting consumers' psychological needs and goals and asserting values congruence and self-image congruity. These easy-to-understand models can be applied to the hospitality industry. The paper includes examples and illustrations throughout. Implications for future research and further applications are discussed.

Developing a National Research and Evidence Base for the Health and Wellbeing Chapter of the Welsh Government’s 2023 Innovation Strategy for Wales.

Tom James — 2023-09-18

This paper presents research informing the Welsh Government’s (WG) Health and Wellbeing chapter of the new Innovation Strategy for Wales (ISW). WG recognises the need for a cross portfolio Innovation Strategy to bring greater coherence and alignment to our existing Welsh health and social care innovation ecosystem, particularly in a post EU environment. This approach aims to support greater collaboration between healthcare, industry, academia and the third sector to deliver greater impact and value (Davies et al, 2021) by developing, sharing and adopting innovative practice, leadership and skills development and supporting new technology development (WG, 2018). As part of the development process, key stakeholders were identified as part of an innovation ‘push’ and innovation ‘pull’ nexus (Chesbrough, 2003) approach. Organisations were categorised into domains of health and social care providers, innovation infrastructure, technology platforms, innovation centres, and partnerships across Wales’s health and life sciences ecosystem. A qualitative, action research led approach was used to derive the key themes supporting development of the ISW health chapter. Multi-sector consultations were conducted with experts from various fields, including health, social, care, research, and technology. Our analysis of qualitative data collected through an extensive consultation process led to the emergence of areas of prioritisation for the ISW. Three areas of prioritisation were identified in the analysis:

Creating coherency across the innovation ecosystem, where every partner understands their role.
Focusing innovation activity on NHS Wales organisational needs/priorities, generating ‘Innovation Pull’.
Creating an ‘adoption ready’ pipeline of innovation externally into health and social care at scale, creating an ‘Innovation Push’ offer.

The ISW aims to create the optimal conditions for an innovation ecosystem underpinned by clear infrastructure and a robust policy framework, which has the full support from health and social care leadership, to create a culture of innovation at all levels of the health and social care system. The ISW was launched on 27^th February 2023, with full political support from the Welsh Government Cabinet; a majority Labour party government supported by the Plaid Cymru party, as part of the Welsh Government’s 2021 election cooperation agreement.

Transforming the Network of Co-working Spaces for Start-ups into an Open Knowledge Ecosystem

Giedrius Jucevicius — 2023-09-18

The paper focuses on the issues of transforming the geographically spread co-working spaces of start-up firms into the open knowledge ecosystems, i.e. hubs of growth-focused organizations characterised by sharing and generating new industrial knowledge. The presented insights are based on the combination of theoretical review and empirical survey of 92 managers of start-ups and SMEs in Lithuania. This is an emergent community of regional start-up firms with rudimentary linkages and elements of knowledge sharing. The paper looks into the key issues that could contribute to strengthening the knowledge-based collaborations and synergies in such community, while assessing both the current situation and the evolutionary potential of such collaborations. We present the critical discussion in the light of ecosystem-as-structure vs. ecosystem-as-affiliation (Adner, 2017) approaches. Ecosystem-as-affiliation approach stresses the affiliation of ecosystem actors (to the network or focal actor), while ecosystem-as-structure views ecosystem through the lense of value proposition that network actors are co-creating. The first view has a more open-ended network perspective where spontaneous collaborations may lead to different outcomes and the network welcome different members with no prior objective in sight. The second view is more focused on aligning the resources and activities of multilateral set of partners for materialising specific value propositions, and members are invited to join based on these specific needs. The research has shown that, on one hand, the emergent start-up community relies on institutional coordination while retaining the element of openness. On the other hand, there is an explicit need for leadership in building the shared vision and designing the knowledge partnerships for delivering the shared value propositions. One should stress the importance of focal organizations and boundary spanners - both in terms of the organizational and knowledge boundaries. The shared business interests, network leadership and trust have been identified as the key cornerstones for further development of network into an open knowledge ecosystem, yet they are also associated with the greatest challenges to sustained knowledge sharing in the network.

Design Thinking Driven Innovations in Organisation as a Result of the Groundswell Effect

Vladimira Jurisova — 2023-09-18

According to the OECD, soft skills and abilities such as analytical and creative thinking, the ability to organize time and manage a stressful situation, working in teams, working with information, critical thinking, communication skills, initiative, programming and technological design, complex problem solving are currently important for employment on the labor market. The need to secure and implement new techniques and methods leading to innovation are becoming a necessity for every organization. It is Design Thinking that provides an approach towards the creation of innovations, and its use and application can be beneficial in the search for effective solutions to problems occurring across different organizations. The contribution focuses on the interpretation of the Design Thinking application in the field of innovation in the university environment as a result of the groundswell effect from the labor market and consumer environment. The interest of every organization is prosperity and offering services and products that best meet the needs of customers. If the organization does not succeed, its reputation and prosperity are at risk. It is the innovations driven by Design Thinking that make it possible to create better solutions that can repair, maintain and continuously improve the reputation of the organization. The first part of the paper focuses on the explanation of the groundswell effect and the Design Thinking concept, its process and phases from problem identification, idea generation, prototyping and testing to the final implementation of the solution, as well as its tools and techniques. The second part of the paper will focus on the concrete examples presentation of the Design Thinking usage in the field of improving university education, as the forms and methods that students use in university education are just as important as the content they acquire through their studies. The paper also presents inspiring examples of innovations in the university environment that arose as a result of design thinking workshops.

Linking Effectuation Logic with Business Model Innovation: An Investigation in the Context of Swiss Startups

Laila Kabous — 2023-09-18

Over the last decades, business model innovation and effectuation have been widely discussed in the literature. While effectuation represents a behavioural approach for entrepreneurs using available means for founding a start-up, business model innovation represents an approach to creating a business model with long-term competitive advantages. Designing a business model requires to focus on four dimensions: customer, value proposition, value chain and revenue mechanism. A business model innovation is referred to when an innovative characteristic can be attributed to two of the four dimensions. Both effectuation and business model innovation are valuable for entrepreneurs who are pursuing growth in dynamic and uncertain business environments. This paper elaborates on effectuation and its potential effects on business model innovation. The addressed research questions are: Is the effectuation logic a facilitating aspect of business model innovation? And to what extent do entrepreneurs apply effectuation logic and design innovative business models? The underlying data consists of business plans of 25 finalists of a Swiss innovation competition with more than 100 startups from different business sectors every year. First, the chosen sample is reviewed on the extent of the application of effectuation based on selected behavioural criteria. Second, the sample is analysed for evidence of business model innovation based on the above-mentioned business model dimensions and their innovative potential. Third, the link between the two approaches is highlighted to gain insights into the potential influence of the applied decision logic to develop innovative business models, thus providing an understanding of how entrepreneurs could leverage the advantages of effectuation in the context of innovating the business model. Further research will focus on examining critical success factors of entrepreneurial behaviour in the applied business model types and their correlations with business performance.

Venture Capital as a New Approach to Developing Early-stage Firms in Emerging Countries;

Ahmed Idi Kato — 2023-09-18

This study aims to extend our knowledge of the new approaches to entrepreneurial finance that inspire the development of early-stage firms in developing countries. The role of entrepreneurship is well understood internationally owing to its substantial influence on new employment creation, and productivity, and a seedbed for the emergence of innovative young firms. The survival and prosperity of the HGFs are unswervingly linked to access to sustained financing during their early-stage growth, nonetheless, access to funding remains the topmost worry for young firms. Yet VC financing has a competitive edge over banks burrowing, which cannot easily substitute for VC in its absence. We developed a multi-regression model to measure the results using survey data of 61 VC companies dealing with over 327 investment rounds from 2015-2021. The study confirms that VC investment has a dramatically flourishing prominence in nurturing early-stage firms with potential growth. Our study makes three major contributions to advancing this debate: First, our finding is expected to benefit the policymakers and civil society in the practice of creating new VC policies or altering existing ones to attract increased foreign VC investment in active countries and beyond. The government’s increased funding to the VC companies might lead to higher survival rates for new innovative industries as observed in the developed. Moreover, we discover that this research arena is recognized by a paucity of theoretical and empirical research underpinning VC’s proficiency in nurturing high-growth firms and innovative entrepreneurship.

The Innovation Impact on Marketing Performance: The Case of SMEs in Developing Countries

Muhammad Bilawal Khan — 2023-09-18

Despite the growing body of literature on social media adoption in marketing, there appears to be a lack of research on the specifics and ramifications for small and medium-sized enterprises (SMEs), which are an important segment of the business world. This study aims to address this gap by investigating the use of Facebook and Instagram in marketing among fast-food SMEs in Pakistan, a developing country. To achieve this goal, the study employs the technology-organisation-environment (TOE) framework and a multiple case study approach to analyse the antecedents of Facebook and Instagram adoption and their impact on marketing performance. Data was collected through semi-structured interviews with thirty fast-food SMEs in Pakistan and analysed using thematic analysis. The study reveals that several antecedents influence the adoption of Facebook and Instagram in marketing among SMEs, including interactivity, cost-effectiveness, owner support, customer pressure, and market scope. Furthermore, the adoption of these social media platforms impacted marketing performance, as it enhances brand awareness and customer buying interest. The study's findings offer a conceptual framework on the antecedents of Facebook and Instagram adoption in marketing among fast-food SMEs in Pakistan, with implications for their marketing performance. The study's conceptual framework can serve as a foundation for future research exploring social media adoption in other SMEs and industries. This study has both practical and theoretical contributions. At the practical level, it provides suggestions for fast-food SMEs in Pakistan on how to adopt social media platforms effectively for marketing purposes. At the theoretical level, it enriches the existing literature on social media adoption in SMEs.

The Impact of COVID-19 on e-Commerce Through a Systematic Review

Sithembiso Khumalo — 2023-09-18

The novel coronavirus (COVID-19) has changed the world in a catastrophic way. The impact of COVID-19 brought in regulative measures such lockdown and human movement restrictive regulations; safety precautions needed to be put in place to help people stay safe from the virus infection. Some of the regulation included limiting traveling and implementing lockdown. The business sector was heavily affected and needed a solution immediately. The supply chain needed to continue to function hence the application of e-commerce was the most lucrative opportunity. The purpose of this study was to determine the impact of COVID-19 on e-commerce, both the negative and positive impacts were considered for this study. The suitable and utilised research approach for this study was the systematic review known as the PRISMA Protocol (PRISMA-P). Qualitative research method was chosen for this research paper, using search strings on the Emerald database to collect data. 50 Journal articles from the Emerald Insight database search were identified, these articles were further screened by analysing the title and abstract of the articles to assess their eligibility to be included in the study final analysis. After the eligibility criteria and exclusion process, 4 article were fully assessed and included in the study. This process of exclusion was done through the Mendeley website and the captured in the PRISMA flow diagram. The research findings indicate a correlation between the proliferation of the COVID-19 pandemic and the profitability of businesses conducting online transactions. Findings further indicate that COVID-19 improved digitisation, online shopping, and sales. In conclusion, this study has shown ways in which the e-commerce industry benefited from Covid-19, highlighting on the increase in sales and the use of digital platforms. Also, the novel coronavirus led to the increased digitisation of business processes and services.

Corporate Responsibility for Digital Innovation: A systematic Review of the Literature

Tobias Knopf — 2023-09-18

The digital transformation of the economy and society is fundamentally changing the possible value creation processes of companies. These changes increasingly involve the processing of personal data into information and knowledge that can be used to create individualised user experiences or gain insights from aggregated data. Customer relationships and the interconnectedness of customers are similarly changing as a result of this digital transformation. As customers become more demanding and involved, voluntary activities that go beyond compliance and regulation are becoming increasingly important. At the same time, companies are increasingly recognising the potential of privacy-friendly goods and services. They are using the heterogeneity of their offerings to develop unique selling propositions that focus on fulfilling their digital responsibilities (e.g., Apple, Samsung). In this way, digital responsibility fosters innovation in goods, services and digital markets. The voluntary responsibility of companies in dealing with digital technologies and creating value from data is discussed under the term 'corporate digital responsibility' (CDR). This young field of research has its origins in the study of corporate social responsibility (CSR) and is often discussed in that context. However, with the growing importance of digital responsibility for organisations and the proliferation of related activities, it is increasingly establishing itself as a discipline in its own right. Correspondingly, research on CDR has also seen a sharp increase in the number of publications since 2019. The paper evaluates existing research approaches in a systematic literature review. It highlights definitional approaches, approaches to describing the entrepreneurial motivation for CDR activities and their consequences for corporations, their business relationships and society. Further, the paper identifies research gaps of CDR and provides a basis for further research. This paper shall also serve as a starting point for organisations to establish their own efforts in this area, as well as for the evaluation of existing activities.

Intelligent Organization Through the Lenses of Entrepreneurship and Project Management Approaches

Piotr Kordel — 2023-09-18

The main research question of the paper is what is the concept of an intelligent organization as a critical area in the field of building modern socio-technological concept of organization with resiliency as its central feature. The research method is systematic literature review in the field of management and intelligent organization concept discussion in the light of entrepreneurship and project management research streams. The outcome of the research is the cybernetic and network based theoretical concept of intelligent organization. According to approach taken in the paper intelligent organization is revealing as the result of paradoxical process of effectuation and causation synthesis.

Voice Behavior in Creative Teams: A Case Study of Music Production

Afra Koulaei van Oest — 2023-09-18

Putting people together with distinct roles on a team often seems effective for creative work, as group work can share diverse ideas based on roles and expertise. However, to refine and build on one another's suggestions, members must proactively engage in voice behavior without fear of being criticized or negatively evaluated. Voice or challenging the status quo and expressing suggestions for change are critical in enhancing the final team outcome. However, not all the team members engage in voice behavior. What is often ignored is the effect of variation in members' role centrality on voice behavior. A member's role in a team is highly related to the member's perception of his or her status on a team and perceived self-efficacy. Self-efficacy motivates members to engage in voice behavior and express their diverging ideas that could eventually improve the creativity of the joint team outcome. The present research aims to examine the dynamics of voice behavior focusing on creative teams considering two contextual factors: variation in team members' role centrality and time pressure. The results from pilot qualitative field interviews and observations indicate that members with a less central role on a team are less likely to be proactive in voice behavior, and time pressure is likely to strengthen such a tendency. In particular, our preliminary findings suggest that dampened self-efficacy might be one underlying mechanism that explains the negative effect of low member role centrality on voice behavior, in particular, for teams that work under time pressure.

Using Neuromarketing to Create More Effective Messages in Sustainability Advertising Campaigns

Patrícia Beličková — 2023-09-18

Sustainability has become a hot topic in recent years, and it is essential for businesses to integrate sustainability into their marketing strategies. However, it is not enough to simply communicate messages related to sustainability in advertising. The challenge is to create campaigns that inspire consumers to act in ways that are better for the environment. Currently, many brands are trying to communicate topics related to sustainability in advertising, but not all campaigns will make people want to treat the environment better. It is knowledge from neuromarketing that allows us to better understand consumer motivations and behaviour. Thanks to this, brands can communicate their sustainability messages more effectively. In the article, we focused on a review of existing research that deals with the topics of sustainability in the context of advertising and consumer behaviour. We describe findings that help in the creation of advertising messages in campaigns that aim to motivate the consumer to be environmentally responsible. Neuromarketing research provides valuable insights into the emotional drivers of consumer behaviour, empowering brands to design effective sustainability campaigns. Companies can drive behaviour change and build a more sustainable future. Ultimately, the effective communication of sustainability topics in advertising not only benefits the environment but also helps companies build a stronger relationship with their customers, creating a beneficial scenario for all stakeholders. Our goal is to offer companies recommendations for a better understanding of their consumers and to be able to communicate sustainability topics more effectively so that they have a real impact.

AR and VR as a Shaping Trend in Consumer Behaviour

Andrii Kushnarevych — 2023-09-18

Augmented Reality (AR) and Virtual Reality (VR) have been on the rise in recent years. These technologies have had a great impact on the marketing field and, especially, consumer behaviour. This paper examines the potential and influence of AR and VR as a shaping trend in consumer behaviour, including their usage across various industries and their impact on consumer engagement, purchasing experience and decision-making. We are discovering the challenges that are occurring with the adoption of AR and VR in marketing and retail, such as the need for innovation, privacy concerns, and potential ethical issues. Opportunities that those technologies bring with their adoption are also researched, including personalized shopping experiences, interactive advertising or virtual showrooms. The importance of the consumer perspective on the topic and the way marketers understand this perspective are also highlighted. This way, we provide information not only from the marketers' point of view but also, from the consumers` one, including challenges and obstacles they may face while interacting with selected technologies. At the end of the article, we suggest ways how companies may implement AR and VR in their marketing strategy, which in turn would provide them with the value they can give to their customers as well as an enhanced brand image on the market. Suggested ways may also be used as a starting point for further research, where a complex model of implementation would be created. The main goal of the article is to provide readers with information that brings a comprehensive understanding of the role AR and VR have in modern marketing, how it is shaping consumer behaviour, and how big and small businesses can use those technologies to stay competitive in an ever-changing environment. The article is based on theoretical research from trustworthy sources, both printed and digital, including statistical information from external sources.

A Tale of Two: How Network Agency Influences Network Creation for Start-ups

Chiamaka Kwazu — 2023-09-18

There is an existing consensus that networks positively impact start-ups. New ventures gain access to market information, funding, emotional support and improved legitimacy from networking. However, existing efforts at articulating network creation and impact on new ventures are skewed due to a strong focus on structural properties. Although these properties contribute to understanding network creation and impact, they often ignore the individual who is either a network beneficiary or broker. This study examines the role of the network actor’s agency in entrepreneurial network creation. Understanding agency is critical for explaining how individuals make sense of network opportunities available within their context. Network agency reveals how entrepreneurial networks are created, what influences actor motives and behaviour, and the brokerage methods adopted to meet these motives. This study explores network agency in two contexts: the interventionist incubator context and the location-induced cluster context. The Lagos Technology Ecosystem comprised of different incubator models and cluster is examined. 31 semi-structured interviews with start-ups from both contexts were conducted to get a nuanced view of how the context influences entrepreneurs' network agency. This paper reveals that network motives like personality, reciprocity, and legitimacy as the main motives for tenant firms to engage in network activities. Conversely, cluster firms listed trust, and the need to access knowledge, information and opportunity as key reasons for engaging in network action. In both contexts, direct and indirect brokerage is utilised to meet the motives triggered. However, the dynamics and nature of these brokerage methods are different across the two contexts. Tenant firms demonstrate a tertius Iugnes behaviour, while cluster firms demonstrate separation behaviour.

Possibilities of Using Online Tools and Artificial Intelligence in City Marketing

Lenka Labudová — 2023-09-18

AI has had a significant impact on marketing, transforming the way companies approach advertising and customer engagement. But we are not talking only about the business sphere, marketing tools are transformed and applied also in regional conditions and in the marketing communication of cities. Artificial intelligence and its use therefore also concern this area. Its use can be found in various spheres of city services, one of these services is communication with target groups operating in the given territory. These target groups primarily include citizens, tourists, entrepreneurs, students and working people in the given area. One of the main tasks of the city is that the primary target groups are informed about current events and information is provided to them in the most modern, efficient and fast way possible, which reflects the current technological progress in marketing communication. The aim of this contribution is to point out the possibilities and ways of using artificial intelligence in the communication of cities in Slovakia. AI can help city marketers to create more targeted and effective marketing communication, improve the customer experience, and build stronger relationships with residents and visitors. By analyzing data and providing insights, AI can also help city marketers to make data-driven decisions and measure the impact of their marketing communication efforts. In general, Slovakia belongs to the countries in which the development and advancement of city marketing is difficult from the point of view of financing and lack of human resources. However, one does not always think about the fact that current online and digital tools can be beneficial only if we know about them and know how to use what they offer. In the paper, we will look at the current use of artificial intelligence in the communication of selected Slovak cities with tourists and at the possibilities that artificial intelligence brings in the field of city marketing development.

The Potential Utilisation of Artificial Intelligence (AI) in Enterprises

Marie Leddy — 2023-09-18

Artificial Intelligence (AI) is a part of computer science that aims to create and develop intelligent machines. For AI to function and perform, it involves the development of algorithms and models that enable computers to learn from the data, identify patterns, and make predictions. Research indicates that AI can increase private industry output, decision-making, and effectiveness. AI can analyse vast amounts of data quickly and precisely, as well as identify patterns and trends (Marr, 2018). This makes AI well-suited for occupations requiring data processing and analysis, such as data entry, analysis, and customer service (Sharma, 2019). AI can also be used to automate processes and tasks (Sharma, 2019). Research implies that AI will impact jobs (WEF, 2018). This may involve providing individuals with training to improve their skills and knowledge to prepare them for occupations involving AI technology, as well as developing regulations and processes to ensure that AI is utilised in a fair, transparent, and accountable manner (WEF, 2018). An evaluation of AI's limitations and to ensure forecasting data is accurate and trustworthy (Marr, 2018). It is also crucial to consider the possibility of bias in AI systems and adopt precautions (WEF, 2018). Furthermore, AI offers many benefits but also presents problems, including the prospect of job loss, the likelihood of bias in AI algorithms, privacy, security, and ethical concerns (WEF, 2018). By identifying how enterprises are utilising AI, what is the impact of implementing AI in enterprise operations, how does it affect the efficiency, productivity, and overall performance of the business. This exploratory research begins with an insight into understanding AI, addresses how AI has been utilised and implemented into businesses, the ethical and societal considerations, and potential benefits and challenges businesses may confront. Ten interviews with leading industry experts using AI, followed by focus groups, have generated information. opinions, and key insights. By utilising the software Nvivo this quantitative research presents key themes and content findings to assist in educating enterprise personnel during AI decision-making and implementation stages.

5G is not Just Another G: A Review of the Managerial Literature

Mattia Magnaghi — 2023-09-18

Due to the higher range of markets and applications opportunities it brings, the fifth generation of mobile communications (5G) cannot be considered just a technological transition, as it was for earlier generations of cellular technology, rather it represents a revolutionary phenomenon which could deeply change the competitive landscape for wireless services. According to the literature, it is “one of the most complex technologies seen over the past decade both in terms of technical development and business implications”. However, on one hand, the 5G is a hotly discussed topic from a technical perspective, on the other the managerial literature appears ambiguous and fragmented in the way it is presented. Such absence recalls for a paper whose purpose is to position the 5G search thread also in the managerial literature. For this reason, the work aims to systematize previous knowledge and identify potential research directions related to the strategic adoption of 5G technology. To answer the underlying research question regarding the state of the art of the 5G in the strategy domain, a systematic search has been done, then, on the selected papers, a conceptual review has been carried out to identify (i) the “business reconfigurations” of 5G technology, (ii) the boundary conditions, intended as the conditions of existence of a 5G business case, (iii) the barriers, which instead hinder the development of cases. The research provides useful implications to both the theory and practice: from a theoretical perspective, it represents one of the first studies concerning 5G which is not strictly related to a specific industry or scenario. Secondly, the challenges and gaps identified generate research questions which can be traceable also to a general and more theoretical context, such as the business model innovation literature, where the strategic adoption of new technological paradigms entails further investigations. From a practitioner’s perspective, it provides useful insights regarding 5G adoption for increasing actors’ awareness of such technological innovation, especially concerning their attitude change which is needed to seize the business opportunities it embraces.

Open Innovation Maturity in Companies

Pekka Makkonen — 2023-09-18

Using open innovation approach instead of closed innovation approach improves productivity. To successfully implement the open innovation approach in a company, it is important to evaluate its maturity and readiness to use this approach. The aim of this study is to explore the open innovation maturity and readiness of Finnish and Greek companies. Hence, this study follows a quantitative approach and uses a 13-item survey to explore the open innovation maturity levels. A total of 81 participants from different companies and with different expertise and backgrounds participated in the survey. In addition to the survey, to examine the open innovation maturity of the companies the maturity model for open innovation which consist of five levels with level 5 depicting the highest maturity level was used. The aim was to examine the open innovation maturity of the companies participating in the study. Based on the results, the studied companies were found to mainly achieve level 3 regarding open innovation thinking. More attention and effort should be given to achieve levels 4 and 5. Due to the importance of achieving maturity levels 4 and 5 and their complexity, the need for companies to understand the significance of strategic thinking and for aligning their general strategy with their innovation strategy was highlighted. Additionally, it was evident that to achieve higher levels of maturity, open innovation approaches should be followed and changes in the organizational management should be implemented. Concluding we claim that for companies to adopt an effective open innovation culture, it is essential to integrate appropriate models, methods, and practices starting from lower maturity levels.

Relationship Between Entrepreneurial Competencies and Entrepreneurial Intention Among South African University Students: A Gender Perspective

Mmakgabo Justice Malebana — 2023-09-18

Promoting entrepreneurial activity is considered vital for stimulating job creation, innovation, and economic development. However, prior research emphasises the importance of entrepreneurs’ confidence in their capability or skills as a driver in their decision to launch a new venture, and in facilitating opportunity recognition on which the entrepreneurial process rests. Thus, success in launching, managing, and ensuring the survival and growth of a new venture is dependent on entrepreneurs’ competencies. Entrepreneurial competencies can be a differentiating factor between individuals with strong entrepreneurial intentions and those who have no entrepreneurial intentions. Despite the broad nature and variety of entrepreneurial competencies, there is some consensus among researchers that entrepreneurial competencies are learnable, and they can be developed through entrepreneurship education. Due to the realisation of their importance, there has been growing concerted research efforts directed at uncovering the nature and types, and the role of entrepreneurial competencies in achieving venture performance, and how they can be taught. Despite the fact that individuals can be taught to acquire entrepreneurial competencies, there is paucity of research on the effect of entrepreneurship education on entrepreneurial competencies. The objectives of the study were to determine gender differences in entrepreneurial competencies and entrepreneurial intention, test the relationship between gender and entrepreneurial competencies, to determine the effect of entrepreneurship education on entrepreneurial competencies and entrepreneurial intention, and the relationship between entrepreneurial competencies and entrepreneurial intention. The study was conducted based on a quantitative survey in which 585 South African university students completed a structured questionnaire. Data were analysed using the Statistical Package for the Social Sciences (SPSS) by means of regression analysis, Mann-Whitney U test and descriptive statistics. Findings indicate that entrepreneurial competencies had a significant positive relationship with entrepreneurial intention. Entrepreneurship education had an insignificant relationship with entrepreneurial competencies, and no significant differences were found between entrepreneurial competencies of the respondents who had had entrepreneurship education and those who did not. The results further revealed that gender had a significant positive relationship with entrepreneurial competencies. Additionally, the results revealed significant gender differences in entrepreneurial competencies and entrepreneurial intention.

How to Support Startups in Responsible Innovation Processes: A Tool Analysis

Sarah Manthey — 2023-09-18

Innovation plays a vital role in economic growth and addressing societal challenges such as climate change, poverty, and ageing populations. However, the impacts of innovation are not always predictable, and negative outcomes can emerge unexpectedly. Anticipating the long-term effects of innovation is becoming increasingly important as technology and innovation continue to advance at a rapid pace. Responsible Innovation (RI) is an approach that aims to govern research and innovation by involving stakeholders early on to improve anticipation of consequences and make innovation ethically acceptable, environmentally sustainable, and socially desirable. Small enterprises, particularly start-ups, face significant challenges in implementing sustainability and responsibility in their innovation processes due to limited resources. This study aims to explore existing tools for operationalizing RI in a business context and assess their applicability to start-ups. The findings reveal that while there are numerous ongoing projects and tools for RI in a business context, there is a lack of tools specifically designed for start-ups. By identifying key concepts and characteristics of tools for RI implementation in start-ups, the paper contributes to the field of RI by laying the groundwork for the development of an RI tool tailored to the needs of start-ups. The study provides recommendations for improving existing RI tools, including the development of modular and user-adaptive tools. This research expands the knowledge base on RI, offers a theoretical foundation for further research, and paves the way for the development of the COMPASS self-check tool for RI implementation in start-ups.

Sustainability Management, Technological Innovation and Corporate Social Responsibility for Social Media Small to Medium-Sized Enterprises (SMEs)

Stelios Marneros — 2023-09-18

The aim of this paper is to investigate the impact of the social and technological environment on business performance. Focus is placed on SMEs and their effort to achieve sustainable competitive advantage and thereby sustainable business performance. For this purpose, a survey study was carried out, where primary data was collected from a representative sample of SMEs operating in the Social Media industry of Greece. Questionnaires were distributed to managers and entrepreneurs of the Social Media Industry. These managers/entrepreneurs were selected using a simple random sampling methodology. The findings of the study revealed that social and technological developments have a major role in developing a sustainable competitive advantage. Strategy alignment was also found to be key in tackling the problems and in undertaking the opportunities that arise from the current social and technological environment, thereby reaching sustainable business performance. The findings of the study are especially useful to entrepreneurs and professionals in the industry in formulating effective strategies towards aligning their business with current advancements in emerging digital technologies. Such an alignment would bring numerous competitive advantages and in turn sustainable business performance.

The Impact of Marketing Communication on Social Innovation in the Case Study of the Bottle and Returnable Can Deposit System in SLovakia

Matej Martovič — 2023-09-18

Social innovation brings new solutions that contribute to improving people's quality of life and its role is to develop society. This can be development in different areas such as poverty, unemployment, climate change or ecology. Some social innovations are often perceived negatively by society at large, and it is the role of the institution introducing the innovation to correctly communicate the reasons for and impact of social innovations. Modern society includes modern communication through different communication channels. In order for a social innovation to be successfully introduced and accepted by society, a communication strategy needs to be developed. Organizations implementing social innovations are aware that marketing communication has a major impact on social innovations and can be a decisive factor in achieving behavioral change in society in relation to the problems the social innovation is intended to address. The aim of this study is to highlight social innovation in the environmental field in Slovakia using the example of the bottle and returnable can deposit system. In its government programme, the Slovak Republic has committed to increase the return rate of returnable packaging from the current 60% to 90% by 2025, while the returnable packaging deposit system was only introduced in Slovakia in 2022. In this paper, we will analyze the impact of marketing communication and its impact on the results of the introduction of social innovation in the field of returnable packaging deposit.

Innovative Strategies to Maximize Customer Loyalty in the Banking System: A Systematic Review

Elizabeth Mayuri-Ramos — 2023-09-18

Customer loyalty in financial organizations can be assessed by observing virtual interaction, physical interaction, and service interaction. Loyalty in the banking sector is a consequence of customer convenience, good service received and good image of social responsibility to the environment. For this reason, the aim of the research is to analyze the studies that have been conducted in the scientific literature regarding innovative approaches and strategies of loyalty in the banking system between the years 2018 and 2023. To achieve the collection of information, 4 reliable databases were used: Scopus, Redalyc, Science Directc and Scielo, from which 22 scientific articles with relevant information on the topic were extracted, information systematized by journal, author, databases, year and country is presented. The most used database was Scopus followed by Science Directc and the year where the most was published was 2022, highlighting several publications in the journals Sustainability and Management and Accounting Review. The results show how financial organizations can develop their approaches and strategies to maximize the loyalty of their active customers, which translates into increased market share. It is highlighted that trust and commitment tend to have a positive and significant effect on bank customer loyalty. In conclusion, loyalty in the financial system plays a very important role as it allows them to be active in a competitive market, in addition to creating brand evangelist customers who will recommend the services to others.

Exploring Drivers and Barriers, Failure and Resilience, Success Factors and Strategies in Firms’ Internationalisation: Literature Review and Research Agenda

Anderson Galvão — 2023-09-18

The literature that studies firms’ internationalisation has become very extensive and fragmented, taking different approaches and contributing across diverse facets of internationalisation. Therefore, there is a need to analyse and systematise those issues that received increasing attention in the international business field. Accordingly, this study aims to develop a systematic literature review on the internalisation process. We correspondingly make resources to the Web of Science database and analyse a total of 270 articles, spanning the period from 1996 to 2022, to identify the core issues and contributions made by the existing literature. The results enable the categorisation of the extant research into five main areas: (i) successful internationalisation, (ii) internationalisation strategies, (iii) failure and resilience, (iv) drivers and stimuli, and (v) barriers and obstacles. This structuring then established the grounds for grasping the gaps existing in the literature and to propose future research agenda.

Minority Entrepreneurship in Switzerland: The Challenges and Needs of Brazilian Women Entrepreneurs

Dario Meyer — 2023-09-18

The number of Brazilian citizens in Switzerland has risen significantly over the past decades by factor 24 compared to the total foreign population, which grew by factor 2.5. As with many migrant groups, integration into the labour market is difficult. This can lead to a higher number of people choosing to start their own business. Brazilians in their home country are more entrepreneurial than Swiss people and among Brazilian women, 17.3% are entrepreneurially active. This can partly be explained with less options on the labour market – a challenge that Brazilian women also experience in Switzerland. Therefore, entrepreneurship also became a viable career option abroad. Little is known about neither the businesses, the challenges, and the needs of female Brazilian entrepreneurs, nor of female entrepreneurs of other minority groups. This paper looked at these points to find out how they can be supported best to enhance their businesses. The findings will be of use for entrepreneurs themselves, as well as for supporting organisations to adapt their offerings. To get the required insights, we took a quantitative approach and surveyed 54 Brazilian women in Switzerland with an online questionnaire. The participants were members of a Brazilian women business club. The results were analysed using SPSS. The entrepreneurs came to Switzerland mainly for love and family reasons. The businesses are small, mainly targeting the Brazilian community and only a small minority can sustain themselves from their self-employment alone. While the financial success is rather low, the personal satisfaction of having a business is very high. The biggest challenges are finding customers, where also the biggest need for support is. The results show that the support structures are not accessible enough for founders from minority groups and that offerings need to be adjusted to have a broader reach.

Do SMEs actually know what Business Model Innovation is? Evidence from Switzerland.

Rolf Meyer — 2023-09-18

Business model innovation (BMI) has received increasing attention from academics in recent years and its positive impact on companies has been demonstrated in the literature. However, there is a lack of research though on whether the managers of SMEs actually know what BMI means and how to implement it. This study is looking at this gap and analysed the know-how about the term in the Swiss canton of Schwyz. It is based on a survey among 418 managers of SMEs and shows that there is lack of knowledge on what BMI is and how to implement it; however, the importance of it is well-known. This research contributes to the existing literature in three ways. Firstly, awareness is the first needed step in increasing the number of BMIs in Switzerland, as many companies do not know the term. Secondly, managers claim to have no issues in generating new ideas and know about the importance of BMI, but nevertheless, do not implement it. Thirdly, only a small minority of SMEs work with universities on innovation and miss out on a large support structure. The study closes with recommendations for companies as well as universities and other state organisations to support BMI in Switzerland through the steps awareness, empowerment, implementation.

Romanian Youth Enhancing Innovation Mindset and Organizational Change in the Business Environment

Andreea Maria Gabriela Militaru — 2023-09-18

This study explores how youth is involved and influence the business environment through their actions and practices. Many young people and youth organizations are framing a mindset to their members about openness to entrepreneurship, innovation, on the business environment. While these youngsters are learning and making efforts to collaborate with similar structures from the EU, most of the companies in Romania are not paying much attention to them. The number of youth organizations had an increased trend in recent years, more and more youngsters acting and interacting with the business environment. Entrepreneurship playing an important role in the changes in the business environment. Some organizational changes are happening within the business environment at the EU level, echoing also in Romania. The level of interest in innovation and entrepreneurship is high for youngsters forming non-governmental organizations, eager to create hubs of knowledge using EU-funded grants. The importance of studying this topic is vital to identify common characteristics, skills, and mindset of the young people involved in the organizational structures. The purpose of this paper is to discuss how Romanian youngsters are enhancing and recognizing the innovation mindset within their organizations and how they can impact the local business environment. Also, another point is to determine the organizational change in the business environment in Romania, impacted by the youth organizations. The methodology is based on primary and secondary data, analyzing youth activities outputs and the approaches bringing change in the business environment in recent years. And on the other hand, studying how the business environment, firms, and companies are interacting with youth activities directly or indirectly. The study contributes to the literature review by highlighting local best practices implemented by youth and youth organizations to bring improvement to the business environment together with youth awareness for the business environment transformation.

Emerging Technologies: A Catalyst for Sustainable Business Model Innovation

Davide Moiana — 2023-09-18

Grand Challenges are global problems requiring coordinated effort from stakeholders at different levels. For-profit businesses, as loci of innovation, can play a pivotal role in advancing Grand Challenges by fostering social impact collaboration. Business Model Innovation is a useful mean to combine the possibilities offered by emerging technologies with the needs of sustainable challenges. Blockchain is widely recognized as an emerging technology, rapidly growing, highly novel and with a prominent impact on different sectors. We adopt a Comparative Case Study in the field of the Voluntary Carbon Market, unregulated markets where organizations can offset their impact by compensating their negative externalities on the environment by buying carbon credits generated through certified mitigation projects following international standards. As climate change is a main Grand Challenges and a threat to humanity, as recognized by the United Nations Sustainable Development Goals, this research aims to explore the role of blockchain as a catalyst for Sustainable Business Model Innovation. This study makes two significant contributions to the field of business model innovation, emerging technologies and Grand Challenges. First, it highlights the importance of Business Model Innovation to address Grand Challenges and overcome their managerial problems, including valuating, coordination, trust, access and reach. Our study presents a novel conceptual model anchored in the Business Model as an activity system view, revealing three actionable characteristics of blockchain that can help to design novel activities configurations able to advance managerial problems encountered by for-profit organizations while advancing effort towards Grand Challenges: asset enabler, trust machine and coordinated and collaborative action enhancer. Second, from a technology-oriented perspective, it offers insights into how an emerging technology can be leveraged to foster complementarity by converging with existing assets and technologies, thereby generating new value. For practice, our findings provide a framework for both startups and established companies to leverage blockchain technologies to create meaningful and lasting impact.

Exploring Industrial Tourism's Potential: How Can It Contribute to Business Innovation?

Zulmira Montenegro — 2023-09-18

This article delves into the potential of industrial tourism and emphasizes its significance as an innovative and sustainable product for industrial companies. The research question driving this exploration is, "How can industrial tourism contribute to business innovation?" In answering this question, the article provides valuable insights into the development of strategies that allow companies to leverage industrial tourism for their benefit, ultimately positioning it as a strategic factor for enhancing their competitiveness. As part of an ongoing research project, the study adopts the Delphi research methodology and presents the initial findings from the first round of questionnaires administered to a panel of 27 experts. The results demonstrate that industrial tourism can act as a catalyst for innovation within industrial companies, making a notable impact across various areas, including Operations, Marketing, and Human Resources. Moreover, the findings indicate that generating additional income, prioritizing environmental and social integrity, and preserving industrial heritage is closely associated with innovation through industrial tourism. The research underscores the pivotal role of the Financial, Operational, and Human Resources areas within industrial companies for the successful diversification into industrial tourism. However, the strategic alignment of the company's overall vision with industrial tourism is equally fundamental. Despite not being the primary focus of industrial companies, industrial tourism emerges as a potent source of innovation and competitiveness within these organizations. The results suggest that the Financial, Operational, and Human Resources areas of industrial companies are central to the success of diversification to Industrial Tourism. Still, it is fundamental that the company strategy is aligned with industrial Tourism. Although Industrial Tourism is not the focus of industrial companies, it can be a source of innovation and competitiveness within companies.

Influencers and the Purchase Decision: A Correlation in the Personal Care Products Sector

Mathews Isai Moreno-Lopez — 2023-09-18

Nowadays, influencers have become a fundamental part of innovative marketing strategies in global brands and companies. Since the emergence of social networks, they have become more relevant in these virtual spaces where Millennials have become the main protagonists, causing personal care brands to direct their efforts towards these new strategies. Within this context, the objective of this research is to determine whether there is a relationship between influencers and the decision to purchase products in the personal care market through the social network Instagram, in Lima, the capital of Peru. The research is applied with a quantitative approach, correlational in scope and non-experimental in nature. The survey was used as a research technique and the questionnaire as a data collection instrument with Likert scale questions, to assess reliability a Cronbach's Alpha of 0.810 was obtained, the sample consisted of young people aged 18 to 25 years and the fieldwork was conducted through social networks. The results show a significant correlation between influencers and the decision to purchase personal care products, with a Spearman's Rho of 0.309. In addition, it was also revealed that 38% of the respondents considered that a large number of followers was not enough to determine the credibility of an influencer. Finally, it was possible to verify that the alternative hypotheses were accepted and that there is indeed a relationship between influencers and the purchase decision. It can be concluded that influencers are considered an important source of information, they determine the purchase decision in well-positioned companies and enterprises, but this depends a lot on the impact of their speech; it is also concluded that many speeches reduce their relevance because they do not feel sincere and show only the purpose of selling.

Using AI to Create Content Designed for Marketing Communications

Peter Murár — 2023-09-18

Innovation is a key success factor in every industry, including marketing communications. One of the most significant innovations in marketing is use of artificial intelligence (AI). Without a doubt, it has tremendous potential to become an essential content creation tool for marketing communications. In recent years, several AI-based tools have been created that simplify the content creation process in various ways. We are witnessing an enormous increase in these services and a significant increase in their quality. This qualifies them for use to a much greater extent than before. It is obvious that these tools will become key tools for marketers and related professions in the near future. Experience from the past months reveals that AI-based tools can significantly speed up content creation and increase its relevance by using optimal vocabulary, stylistics, or - in the case of image generators - visuals. The presented work analyzes the current state of using AI in marketing communication, through the possibilities and challenges related to it. The aim of this work is to provide a comprehensive overview of the possibilities of using AI in the creation of content. AI can automate some tasks, such as data analysis and information processing, freeing marketers to focus on other important tasks. The advantages of AI in the creation of marketing communication content can be speed and relevance, personalisation but also objectivity. AI in the creation of content may encounter a lack of creativity, lack of emotion and empathy. AI cannot fully understand the context in which the content is to be used, which can lead to the creation of inappropriate or ineffective content. Different types of AI tools usable in marketing communication. AI can assist in various stages of the content creation process, such as generating ideas, creating a story, personalising content. AI can use target group data such as interests, purchasing behavior, demographic information. This article discusses a contribution to research that uses qualitative and quantitative scientific methods to analyse the use of artificial intelligence (AI) in marketing and marketing communications. It highlights the uses of AI in marketing and identifies a list of selected AI tools that are considered advantageous in different areas of marketing. The conclusions of this work should provide important guidance for further research and application of AI in marketing communication, which could significantly contribute to the development of the entire mentioned field.