Entrepreneurship in the Netherlands: Ambitious entrepreneurs: the driving force for the next millennium

Studie naar de dynamiek van jonge bedrijven en snelgroeiende bedrijven in Nederland, Denemarken, het Verenigd Koninkrijk, de Verenigde Staten en Zweden. In Nederland zijn er relatief weinig bedrijven met hoge werkgelegenheidsgroei. In tegenstelling tot andere landen ontwikkelt de Nederlandse overheid wel beleid om snelgroeiende bedrijven te ondersteunen.

Management, Technology and Learning for Individuals, Organisations and Society in Turbulent Environments

This book presents the collection of fifty two papers which were presented on the First International Conference on BUSINESS SUSTAINABILITY ’08 - Management, Technology and Learning for Individuals, Organisations and Society in Turbulent Environments, held in Ofir, Portugal, from 25th to 27th of June, 2008. The main motive of the meeting was the growing awareness of the importance of the sustainability issue. This importance had emerged from the growing uncertainty of the market behaviour that leads to the characterization of the market, i.e. environment, as turbulent. Actually, the characterization of the environment as uncertain and turbulent reflects the fact that the traditional technocratic and/or socio-technical approaches cannot effectively and efficiently lead with the present situation. In other words, the rise of the sustainability issue means the quest for new instruments to deal with uncertainty and/or turbulence. The sustainability issue has a complex nature and solutions are sought in a wide range of domains and instruments to achieve and manage it. The domains range from environmental sustainability (referring to natural environment) through organisational and business sustainability towards social sustainability. Concerning the instruments for sustainability, they range from traditional engineering and management methodologies towards “soft” instruments such as knowledge, learning, creativity. The papers in this book address virtually whole sustainability problems space in a greater or lesser extent. However, although the uncertainty and/or turbulence, or in other words the dynamic properties, come from coupling of management, technology, learning, individuals, organisations and society, meaning that everything is at the same time effect and cause, we wanted to put the emphasis on business with the intention to address primarily the companies and their businesses. From this reason, the main title of the book is “Business Sustainability” but with the approach of coupling Management, Technology and Learning for individuals, organisations and society in Turbulent Environments. Concerning the First International Conference on BUSINESS SUSTAINABILITY, its particularity was that it had served primarily as a learning environment in which the papers published in this book were the ground for further individual and collective growth in understanding and perception of sustainability and capacity for building new instruments for business sustainability. In that respect, the methodology of the conference work was basically dialogical, meaning promoting dialog on the papers, but also including formal paper presentations. In this way, the conference presented a rich space for satisfying different authors’ and participants’ needs. Additionally, promoting the widest and global learning environment and participativeness, the Conference Organisation provided the broadcasting over Internet of the Conference sessions, dialogical and formal presentations, for all authors’ and participants’ institutions, as an innovative Conference feature. In these terms, this book could also be understood as a complementary instrument to the Conference authors’ and participants’, but also to the wider readerships’ interested in the sustainability issues. The book brought together 97 authors from 10 countries, namely from Australia, Finland, France, Germany, Ireland, Portugal, Russia, Serbia, Sweden and United Kingdom. The authors “ranged” from senior and renowned scientists to young researchers providing a rich and learning environment. At the end, the editors hope and would like that this book will be useful, meeting the expectation of the authors and wider readership and serving for enhancing the individual and collective learning, and to incentive further scientific development and creation of new papers. Also, the editors would use this opportunity to announce the intention to continue with new editions of the conference and subsequent editions of accompanying books on the subject of BUSINESS SUSTAINABILITY, the second of which is planned for year 2011.info:eu-repo/semantics/publishedVersio

SME management consulting firms internationalising in a turbulent business environment : a dynamic capability perspective from developed and emerging economies

This study draws on the dynamic capabilities view to investigate how SMEs management consulting firms’, in a turbulent international marketplace successful grow. SMEs shows that the processes of successful international growth, the act of gaining and sustaining competitive operations have often failed, especially in a turbulent business landscape. Through a qualitative case study, we argue that international growth success depends on subtle and continual orchestration of key interrelated internal and external factors. Factors such as the environment, continual reconfiguration of the firm assets pool (resources, processes and structures) and the constant alignment of the business model and strategic options are key determinants of successful international growth. We use the dynamic capabilities approach to discuss and to explain the importance of these determinates and how they contribute to successful SMEs international growth in a turbulent business environment across both developed and emerging economies. A generalised framework has been proposed as an outcome, which might act as a point of reference for SMEs owner/managers of management consulting firm considering international growth. The study provides useful practical implications for both UK and Nigeria SMEs management consulting firms currently seeking international growth opportunities. The study contributes to the literature in the field of SMEs international growth, strategic management and turbulent business environments concerned dynamic capabilities with SME management consulting firm internationalisation in a turbulent business environment highlighting the main factors that should be considered. Keywords: small to medium-sized enterprise (SME), internationalisation, service sector, management consulting, dynamic capabilities and critical success factor (CSF)

Economic Co-operation Across the Finnish-Russian Border - Factors of Sluggish Development and Success of Enterprises

The post-Cold War era in Europe in the 1990s has caused people to recognize the complexity of economic development and economic co-operation. The opening of borders has not always meant an increase cross-border economic activities in general. On the contrary, the adverse socio-economic development of many border areas has been unanticipated. The Finnish-Russian border is one example of this dissonance. This paper analyses the operation of Finnish companies in economic activities in Russia during the 1990s. The study investigates barriers to the Finnish- Russian trade, economic co-operation and foreign direct investment (FDI). A micro level approach is applied aiming to find out what is the role of institutions, mental boundaries and pure economic factors in this border-crossing development process. The authors have chosen the mining company Pechenganickel and its employees in two Russian mining towns on the Kola Peninsula, Nikel and Zapolyarnyj, as their case study objects for the research. The employees in Nikel and Pechenga are very conducive to foreign co-operation. Mental barriers are low, at least compared with the outlook of Finns to Russians. The economic activities of two Finnish companies in Russia have been studied. One of the case study companies, Outokumpu, has operated as a supplier of technological know-how to Russia and has investigated various investment projects there. The strategy has been cautious and no acquisitions or notable FDI have been executed. Institutionalists blame high bureaucracy and complicated custom regulations for the low level of cross-border trade and co-operation. Are there more important causes beyond those factors? Is it just lacking demand and the disadvantageous location of economic activities, which matter in border areas? Such argument can be supported as well. This is illustrated by the success of the Baltic Beverage Holding AB (BBH). This beer producer has a market share of 23 per cent in Russia and 40-50 per cent in the Baltic States, and the growth continues. BBH's success proves that in certain fields and markets there are no insuperable institutional barriers for foreign companies in the economies of those countries. The study concludes that the main causes for sluggish development development in many sectors seem to be demand-driven and structural (and spatio-structural). The collapse of the former economic system brought about such a deep and unanticipated decline that not all the companies could properly cope with. Nevertheless, the study shows that there is potential for trade and FDI to Russia in the future

Portuguese fashion designers: behaviours for an international business

The Dissertation here presented pretends to analyse and characterize the most creative sector of Portuguese Textile and Apparel Industry: Portuguese Fashion Design. Today, Textile and Apparel Industry is one of the most important cluster of Portugal economy. However, this industry, did not always give the right importance to factors such as Creativeness, Innovation and Design as a way of reach competitive advantages in international markets. In a nutshell, Portuguese Fashion Design, despite difficult periods and constrains, has been able to reveal a continuously growth and respect on international markets. Obviously, we hear today about the successful investments by Textile and Apparel Industry on improvement, development and innovation as a strategic response to market demands or requirements. Fashion World is particularly known by its quick change and where the new ideas, new ways of doing things, new products and services of today will be obsoleted tomorrow. Under fast-changing environments, players need to adopt measures and strategies to fight back market demands and heavy competition in order to survive. With this, it is up to Portuguese Fashion Designers along with Textile and Apparel Industry to seek constant alternatives and opportunities to reach a high level of competitiveness and to keep up with market demands. Back to this dissertation, the comparison between three Portuguese fashion players based on news and interviews make it possible the analysis of Portuguese Fashion Design’s evolution and to draw guidelines about its future journey

Innovation dialogue - Being strategic in the face of complexity - Conference report

The Innovation Dialogue on Being Strategic in the Face of Complexity was held in Wageningen on 31 November and 1 December 2009. The event is part of a growing dialogue in the international development sector about the complexities of social, economic and political change. It builds on two previous events hosted the Innovation Dialogue on Navigating Complexity (May 2009) and the Seminar on Institutions, Theories of Change and Capacity Development (December 2008). Over 120 people attended the event coming from a range of Dutch and international development organizations. The event was aimed at bridging practitioner, policy and academic interests. It brought together people working on sustainable business strategies, social entrepreneurship and international development. Leading thinkers and practitioners offered their insights on what it means to "be strategic in complex times". The Dialogue was organized and hosted by the Wageningen UR Centre for Development Innovation working with the Chair Groups of Communication & Innovation Studies, Disaster Studies, Education & Competence Studies and Public Administration & Policy as co; organisers. The theme of the Dialogue aligns closely with Wageningen UR’s interest in linking technological and institutional innovation in ways that enable ‘science for impact’

The entrepreneurial and management cultural transformation in independent Estonia

Abstract available: p.i

Wild cards: surveying extreme change

A intensificação da complexidade socioeconómica, amplificada pela globalização, limita a previsibilidade das acções dos agentes económicos, aumentando a incerteza quanto ao futuro. Ao longo dos anos destaca-se a contribuição da análise prospectiva para um processo sistemático de antecipação do que o futuro pode reservar. O exame das forças que impelem a evolução da economia, da tecnologia e de outras dimensões da sociedade permitido pela prospectiva, bem como a construção de uma melhor percepção quanto a oportunidades e ameaças na área da política pública e da gestão empresarial, garantem a esta disciplina uma notoriedade num contexto actual marcado por volatilidade, ambiguidade e incerteza. No seio desta temática mantém-se ainda em desenvolvimento a categoria de mudança extrema e súbita. Os conceitos que visam abordar eventos de baixa probabilidade e alto impacto, de natureza “disruptiva” e com o potencial de redefinir as “regras do jogo”, são ainda recentes e passíveis de aprofundamento. Por exemplo, noções como “wild cards” carecem ainda de definição precisa e perímetro consensual. O presente estudo debruça-se sobre este objecto de estudo, os eventos-ruptura habitualmente descritos como “wild cards”. A abordagem é de “segunda ordem”, isto é, esta dissertação visa o estudo da teorização do conceito de “wild card”. Para esse fim, foi escolhida uma metodologia integrada combinando elementos quantitativos (através de uma análise bibliométrica) e qualitativos (com levantamento de opinião de especialistas inquéritos a especialistas nacionais e internacionais). Na base deste trabalho de revisão de literatura e de contacto com analistas esta dissertação procura construir uma síntese crítica e criativa do estado da arte e especificar um conjunto de características relevantes para a consideração e adaptação face a “wild cards”.Socio-economic complexity, quickened by technical change, amplified by globalisation, limits the prediction powers of agents’ actions and increases the need to deal with uncertainty about the future. For many years foresight has been positioned has having a central relevance in the present context of turmoil and insecurity, especially when disruptions and trend-breaking events are of the essence. Within the subject-area of foresight, however, the concept of extreme sudden change remains still quite unclear. Wild cards, or “high impact”/“low-probability” events, with the potential to redefine the “rules of the game” are a concept worth revisiting given its novelty in the literature and analytical importance in contemporary volatile environments. This thesis focuses on the role and evolution of the concept of wild card in foresight literature. Our main objective is to provide an account of the state of the art of wild card research. To this end, the methodological approach deployed uses both quantitative data (bibliometric analysis of research papers) and qualitative information (constructivist method based on interviews with experts) as a way of achieving robust insight on what wild cards are as a concept and how they are evolving in the real world. This two-pronged approach allowed for the validation of the findings of the systematic survey of the literature through the lens of the international researchers and practitioners that we were able to enquire. This methodology is unlike any other we have been able to detect in the extant literature, and may confer this effort a degree of novelty. As far as substantive contributions are concerned, this thesis sought to better distil a definition of the concept of wild card within a foresight’s framework, study its interrelations with other phenomena of change, and also look into the anticipation and adaptation possibilities when dealing with wild cards

Critical Market Crashes

This review is a partial synthesis of the book ``Why stock market crash'' (Princeton University Press, January 2003), which presents a general theory of financial crashes and of stock market instabilities that his co-workers and the author have developed over the past seven years. The study of the frequency distribution of drawdowns, or runs of successive losses shows that large financial crashes are ``outliers'': they form a class of their own as can be seen from their statistical signatures. If large financial crashes are ``outliers'', they are special and thus require a special explanation, a specific model, a theory of their own. In addition, their special properties may perhaps be used for their prediction. The main mechanisms leading to positive feedbacks, i.e., self-reinforcement, such as imitative behavior and herding between investors are reviewed with many references provided to the relevant literature outside the confine of Physics. Positive feedbacks provide the fuel for the development of speculative bubbles, preparing the instability for a major crash. We demonstrate several detailed mathematical models of speculative bubbles and crashes. The most important message is the discovery of robust and universal signatures of the approach to crashes. These precursory patterns have been documented for essentially all crashes on developed as well as emergent stock markets, on currency markets, on company stocks, and so on. The concept of an ``anti-bubble'' is also summarized, with two forward predictions on the Japanese stock market starting in 1999 and on the USA stock market still running. We conclude by presenting our view of the organization of financial markets.Comment: Latex 89 pages and 38 figures, in press in Physics Report