While female entrepreneurship and entrepreneurial teams are now commonly studied, little work has been undertaken in women’s entrepreneurial teams in developing countries. This study analyses the impact of the Women Enterprise Fund, which was established by the Kenyan government to address the issue of poverty and unemployment amongst the country’s female population. To ensure that the government funds maximized the number of women that participated in the initiative, a loan was offered to teams (or groups) of at least ten women and therefore the programme became known as the Government Loaned Entrepreneurship Teams (GLETs) initiative. The research found that illiteracy among many GLETs resulted in difficulties with the loan application process, the repayment of the loan through the bank, and with proper record keeping. The research also found that the government should finance women’s group assets rather than giving money to provide incentives, and that they should reduce the tax and interest rate for women and encourage greater levels of export activity. The GLETs also require business mentors who can work closely with them to implement what they have learned in training. The chapter additionally offers some thoughts on how the findings from this research can provide insights into women’s entrepreneurship and entrepreneurial teams internationally.
Mary Wanjiru Kinoti, Moses Kibe Kihiko and Thomas M. Cooney
Why are some individuals willing to pursue opportunities and others aren’t? The role of individual values
Francisco Liñán and Agnieszka Kurczewska
In this chapter the authors argue that personal values influence motivation and intention to exploit business ideas. The aim is to investigate which values direct individuals willing to start up their ventures out of an opportunity, compared to those who would start their venture out of necessity. To address this aim, the authors combine the literature on entrepreneurial intentions and opportunity-driven entrepreneurship with psychological knowledge on individual values. By applying Schwartz’s theory of personal values on a sample of 2974 adults from Spain, the authors examine how values organized along two bipolar dimensions – openness versus conservation and self-enhancement versus self-transcendence – influence the perceived likelihood of an individual entering entrepreneurship ‘to take advantage of an opportunity’ or ‘out of necessity’. The study indicates that openness to change and self-enhancement encourage opportunity-driven entrepreneurship, while conservation and self-transcendence stimulate necessity-based entrepreneurship. The study also confirms that the start-up intention is mostly connected with exploiting a potential opportunity. Entrepreneurial intention mediates the relationship from the motivational antecedents to the opportunity motives. The study’s contribution is a new, value-based insight into the sources of two classes of entrepreneurship. By identifying the value priorities held by individuals who exploit opportunities, the chapter advances the understanding of value-laden entrepreneurial intentions leading to entrepreneurial behaviours.
Stephanie Schoss, René Mauer and Malte Brettel
There is a growing body of research that focuses on dispositional personality–related characteristics of founding team members as leading indicators of new venture success. For empirical analysis in this research, 16 personality-related characteristics were selected relevant to entrepreneurship literature and practice, and their importance examined with regard to the composition of entrepreneurial teams. The research setting consisted of a start-up simulation comprising 1200 students with backgrounds in engineering and business who were randomly assigned to teams of five. The method of cluster analysis served to develop a better understanding of which personality characteristics are most important to team success and how the traits cluster together to form specific team types. Besides well-studied characteristics like the need for achievement, less prominent variables like empathy and passion also appear among the personality traits that are most significant for entrepreneurial success. Furthermore, the analysis revealed that balanced individuals who simultaneously show high levels of multiple traits appear more often in unsuccessful teams, while individuals with fewer but more strongly developed traits are to be found in successful teams. Additionally, passion and need for achievement seem to be closely clustered traits, but are less likely to be present in individuals who rate high on empathy and conflict management skills. The findings of this study provide valuable insights for researchers and actionable recommendations for practitioners.
Phillip H. Kim and Howard E. Aldrich
Many people claim to be experts when it comes to launching new businesses. Aspiring entrepreneurs can easily read how-to articles, listen to inspiring TED talks, and follow online the journeys of other founders. A quick search on Google for ‘founding team advice’ yields over 11 million hits. But how much of this advice is actually valid and fruitful for entrepreneurs? Do these insights hold up when evaluated against findings from academic research? This chapter reviews several common themes concerning strategies for constructing founding teams, promoted by practitioners and consultants in the popular press, and analyses their veracity and feasibility using published findings from academic research. Thereafter, detailed discussions will demonstrate that following the proposed advice is extremely difficult to follow (given the constraints faced by founding teams), while additionally highlighting that some advice is evidence-based and some stems from practitioner insights that appear worthy of further investigation. The chapter concludes by outlining some research pathways.
Spyros J. Vliamos
The development of an entrepreneurial mindset is a challenge and a goal which requires an in-depth investigation of the learning processes in the meta-level, because the key factors are related to meta-cognitive processes and procedures on motivation and behavior. The purpose of this chapter is towards understanding the knowledge–opportunities–entrepreneurship mechanism and therefore the role of opportunities in the entrepreneurial process. The chapter aims to consider that the concepts developed in this literature can be treated equally well both as topics on entrepreneurial behavior and as a mental exercise in cognitive science, pedagogy and philosophy of the brain. The author accepts that cognitive mechanisms reinforce individuals’ existing knowledge base, making it one of the most important elements contributing to opportunity identification. So, through a process of logical inference, the chapter addresses some questions related to the opportunity–entrepreneurship action relationship.
Mānuka Hēnare, Billie Lythberg, Amber Nicholson and Christine Woods
Māori are the Indigenous people of Aotearoa-New Zealand. Māori entrepreneurial teams harmonise the collective intent and complementary attributes of individual members, and balance heritage with innovation. They recognize spiritual and human ancestors, and descendants not yet born, as part of the entrepreneurial team and shareholders in their intent and outcomes. This inclusive humanistic-spiritual approach has ramifications for the Māori entrepreneurial team’s observation of history and its teachings, and how it conceives of and works towards the future. This chapter focuses on two clusters of values – temporality and intent – to demonstrate that the relationship between entrepreneurship and cultural values determines the composition of, and guides toward success, the Māori entrepreneurial team. More generally, the chapter offers a lens into Indigenous entrepreneurship, team formation, aspirations and turnover.
Starting a business venture rationally or naturally – exploiting an opportunity in space or developing a place
Björn Bjerke and Johan Gaddefors
This chapter develops a theoretical framework for understanding how entrepreneurship develops in space and place. It takes an eclectic view on entrepreneurship and emphasizes its interactive dependence with different types of context. First, a distinction between a narrow and a broad view of entrepreneurship is introduced. In the narrow view, entrepreneurship is seen as an economic phenomenon satisfying demands in different markets, whilst, in the broad view, entrepreneurship belongs to the whole society, not only to its economy, and is a question of creating something new. Second, the chapter argues for an emerging, bricoleurial way of understanding the entrepreneurial process, rather than the rational, analytically based approach so common in entrepreneurship theory. Third, the chapter presents space and place as theoretical categories; ‘space’ is understood as an economic evaluation of a situation based on its capacity for profit, and ‘place’ is seen as a societal situation based on meaning. Finally, the theoretical framework based on the three distinctions is illustrated by two cases. To conclude, a narrow, goal-rational approach to entrepreneurial venturing works well with context understood as space, whilst a broader, natural understanding of entrepreneurship will include an interactive relation with place.
Thomas P. Kenworthy and Mike Chiasson
The purpose of this chapter is to explore a shaped fates perspective of entrepreneurial activity. The perspective, informed by actor network theory (ANT), overcomes the historical and artificial separation of agent and structure. In order to provide insight into the potential of a shaped fates approach, three different accounts of a new venture opportunity are provided and analyzed, the result of which is a realization that the ANT account offers novel and productive insights about entrepreneurial opportunities that cannot be obtained via the received perspectives. Thus we propose a shaped fates research direction and suggest implications for researchers and practitioners.
Edited by Cyrine Ben-Hafaïedh and Thomas M. Cooney
This book reinforces the value and importance of entrepreneurial teams within the entrepreneurship literature. The expert group of contributors identifies and develops various key areas of research on entrepreneurship teams and suggests the way ahead for future research in the area. The contributors expand on the existing literature on entrepreneurial teams by first revisiting the most recent framework applied to entrepreneurial teams (that is the Inputs-Mediators-Outputs-Inputs model) and then advancing our understanding of issues such as formation, structuring, deep-level diversity and emergent states. The book additionally considers different contexts of application with reference to their commonalities and specificities and investigates under-researched areas such as entrepreneurial teams within indigenous communities, ethnically diverse groups and women entrepreneurs. The contributors present practice-relevant research and offer researchers a platform from which they can explore new insights into the phenomenon of entrepreneurial teams.
Edited by Catherine Léger-Jarniou and Silke Tegtmeier
With a wide-ranging set of contributions, this book provides a compilation of cutting-edge original research in the field of entrepreneurial opportunities. The book reopens the subject from diverse perspectives focusing on theories and approaches to entrepreneurial opportunities. The book has been complemented by an outstanding Delphi panel of six leading scholars of the field: Lowell Busenitz, Dimo Dimov, James O. Fiet, Denis Grégoire, Jeff McMullen and Mike Wright. This carefully edited selection of current and topical contributions will be of immense value to students, researchers and scholars interested in the field of entrepreneurial opportunities.