A critical appraisal of WinEcon and its use in a first‐year undergraduate Economics programme

This is an extended review of WinEcon, a CAL package for introductory economics. Our comments are based on a survey of staff and students involved in the first large‐scale (n = 300+) attempt to integrate WinEcon into a teaching and assessment programme

Determinants of SME exporting: Insights and implications

This study offers insights into determinants of SME exporting according to the characteristics of exporting firms and their resources, thus contributing to a limited literature. The dataset comprised 4,838 respondents from a survey of the UK Federation of Small Businesses. The dependent variable used was two-category (‘do not export’ and ‘export’), allowing a binary logistic multiple regression approach to be used, with separate binomial (logit) regression equations generated for the complete sample and then for different firm age groupings, allowing relationships between exporting and each individual independent variable to be determined whilst holding all other independent variables in the equation constant. The results show that determinants of SME exporting include industry sector, age and the characteristics of the SME owner-manager, along with the firms’ available resources, including the human capital of the owner-manager, use of technology and intellectual property. While an innovation focus was consistently found to be positively linked to exporting, a growth focus was not. These results inform both practice and policy, as the exporting activity of SMEs remains closely linked to economic development policy

Social entrepreneurs in challenging places: A Delphi study of experiences and perspectives

Social Enterprises have grown in number and scope in response to reductions in state-provided welfare and increasing ambition to improve social conditions. While a range of issues have been identified in the literature as affecting the ability of Social Enterprises to successfully conduct their activities, there is currently a dearth of research into the relative influence of these factors. This study explores and ranks the challenges faced by social entrepreneurs in South Wales. Based on a Delphi study with 21 social entrepreneurs, government policy-developers and scholars, it presents a hierarchy of 14 factors, useful instruments for informing social entrepreneurs and policy-makers about the way social enterprises are managed, and how national and local policy should be developed. As part of this, the study also identifies four novel factors that affect the sustainability of social enterprises: ‘Professionalisation of Marketing’, ‘Perception of Validity’, ‘Leadership’ and ‘Situatedness’

The Knowledge Spillover Theory of Entrepreneurship and Foreign Direct Investment

We explore if the Knowledge Spillover Theory of Entrepreneurship, applied to FDI, provides at least a partial explanation for the greater emergence of recent knowledge-based entrepreneurship in Ireland compared with Wales. In order to examine how FDI and entrepreneurship policy in these two regions might have influenced the levels of knowledge-based entrepreneurship, we outline FDI and entrepreneurship policies for Wales and Ireland and key measures of knowledge creation, and evaluate the extent and nature of FDI activity and its relationship with entrepreneurship in general and knowledge-based entrepreneurship in particular. Implications include possible policy di-rections for countries that are characterized by weak knowledge-creating institutions yet wish to encourage knowledge-based entrepreneurship

The roles of innovation strategy and founding team diversity in new venture growth

Using fsQCA, this study explores how venture strategy, as well as founding team knowledge diversity and demographic diversity interact to explain revenue growth of new ventures. Based on a longitudinal dataset containing 210 new ventures, we find that the effects of team diversity are complex such that different diversity conditions explain short-term (i.e. one year) compared to sustained growth (i.e. over three years) and that their role is contingent on the venture’s strategy. We identify three recipes that explain revenue growth in the short-term and four recipes that explain revenue growth in the longer-term. One recipe is the same for both time periods pointing towards the potential role of imprinting of certain team diversity conditions in combination with an innovation strategy. Our findings provide a nuanced and in-depth picture of the relative relevance of an innovation strategy, knowledge diversity, and demographic diversity at distinct stages of venture founding

Developing a framework for network and cluster identification for use in economic development policy-making

Drawing on extensive academic research concerning clusters and networks, this paper seeks to create a framework capable of reviewing and monitoring different aspects of clusters and networks on an ongoing basis. The nine-element framework allows evaluation of the structures and processes for the eight basic cluster types identified from the literature. The use of this framework as a complimentary tool to the Multi-sectoral Qualitative Analysis (MSQA) methodology is then demonstrated using three examples (the construction, hardwood timber and higher education sectors). The data was gathered from three sets of key stakeholders (government, institutions and industry) provided from a recent study funded by the Welsh Assembly Government's Small Grants Research Programme. These cases illustrate the use of the framework in helping to generate the initial information necessary for subsequent cluster development policy (within overall regional economic development) by government to occur. The framework provides tools for reviewing and monitoring individual sectors. Information captured within the framework can also help in ameliorating problems in sectors likely to decline further. The need for further development research is also identified. Specifically at the level of the firm and network, there is a need to generate a more detailed framework of analysis of factors that contribute to successful processes of network management, learning and innovation, from which more detailed policy could be enacted in future

The End of the Beginning? Welsh Regional Policy and Objective One

'West Wales and the Valleys' now qualify for EU Objective One status, entitled to draw down up to ?1.3 billion in EU funds, matched from public and private sources between 2000 and 2006. However, there are many issues raised by the process of organizing the subsequent programme. There are questions over policy focus in the economically diverse Objective One areas, how governance of these policies will work, and the wider implications of Objective One in financial and political terms. There is also debate over previous regional policy initiatives in a Wales that for many years had access to a relatively large share of the UK's regional policy budget and EU funds, yet still faced falling GDP per head as a proportion of the UK average, west Wales and the Valleys' very Objective One status relying on GDP per capita under 75% of the EU averag