Sharon Loane and Jim Bell
Sharon Loane and Trevor Morrow
This chapter focuses on the need for a strategic view of Human Resource Management (HRM) in small rapidly internationalising firms. This has heretofore been largely overlooked by International Entrepreneurship (IE) researchers, yet it is important to understand these essential resources. Drawing upon the resource-based and knowledge-based views of rapid internationalisation and the Strategic HRM (SHRM) literature, we develop and present a conceptual framework, adapted from Goswami et al.’s work in 2006 on entrepreneurial firms. This conceptual work presents a number of propositions, drawing on the resource-based view (RBV) and knowledge-based view (KBV) of the firm and the SHRM literature, to develop a conceptual framework to assist our understanding of HRM in the rapidly internationalising small firm and to guide further research linking strategy, human resources and internationalisation. It is important from both a managerial and public policy perspective to understand the strategic role of having the appropriate human resources in place to support firm growth/internationalisation. Whilst the RBV and KBV have gained acceptance by IE scholars, as yet little attempt has been made to explore how human resources should be acquired and managed to support internationalisation.
Fred Scharf, Jim Bell, Sharon Loane and Richard Fletcher
Elaine Ramsey, Emer Gallagher, Andrew Kincaid and Sharon Loane
Entrepreneurial business ventures require resources to succeed, and one of the most critical of these is finance. Yet it is well recognised that both domestically and internationally focused business ventures face difficulties in attracting external finance, especially in the early part of their life cycles. Some of the most common traditional options for seed capital are through banks, business angels or venture capitalists. However, with the significant decrease in access to capital from these sources since the financial crisis of 2008, entrepreneurs are being continually challenged in their ability to find seed capital. Many remain unfunded, partially because of a lack of sufficient value that can be pledged to funders, and partially because of unsuccessful attempts to both find and convince funders. Crowdfunding therefore has become of great importance to entrepreneurs to fund new venture creation, new product development, marketing and internationalisation. This chapter describes the main crowdfunding models and platforms, the associated regulations and risks, key crowdfunding campaign considerations as well as an overview of the key antecedents to and consequences of crowdfunding for entrepreneurs. The successful Brewbot crowdfunding case is presented as a desirable model.