Entrepreneurs’ age, institutions, and social value creation goals: a multi-country study

This study explores the relationship between an entrepreneur's age and his/her social value creation goals. Building on the lifespan developmental psychology literature and institutional theory, we hypothesize a U-shaped relationship between entrepreneurs’ age and their choice to create social value through their ventures, such that younger and older entrepreneurs create more social value with their businesses while middle age entrepreneurs are relatively more economically and less socially oriented with their ventures. We further hypothesize that the quality of a country’s formal institutions in terms of economic, social, and political freedom steepen the U-shaped relationship between entrepreneurs’ age and their choice to pursue social value creation as supportive institutional environments allow entrepreneurs to follow their age-based preferences. We confirm our predictions using multilevel mixed-effects linear regressions on a sample of over 15,000 entrepreneurs (aged between 18 and 64 years) in 45 countries from Global Entrepreneurship Monitor data. The findings are robust to several alternative specifications. Based on our findings, we discuss implications for theory and practice, and we propose future research directions

Entrepreneurs’ achieved success: developing a multi-faceted measure

Firm performance is typically measured via objective financial indicators. However, researchers increasingly acknowledge that entrepreneurs do not measure their success solely in financial terms but that a range of often subjective indicators matter to them. This article contributes to the debate on entrepreneurial performance by studying how entrepreneurs assess their achieved success. ‘Entrepreneurs’ achieved success’ was conceptualized as a multi-faceted construct that includes entrepreneurs’ self-reported achievement of firm performance, workplace relationships, personal fulfilment, community impact, and personal financial rewards. It was measured via the Subjective Entrepreneurial Success–Achievement Scale (SES-AS). Over the course of three studies (N = 390) the factorial structure of ‘entrepreneurs’ achieved success’ was established and largely replicated in two cultures. Based on a nomological network, we documented relationships among ‘entrepreneurs’ achieved success’, quasi-objective indicators of firm performance, and entrepreneurs’ financial satisfaction, creativity, and health. Based on our research, we propose a new conceptual framework to study performance in the context of entrepreneurship. This framework acknowledges both the success criteria that entrepreneurs wish to achieve and those that they actually achieve, and extends our understanding of firm performance

Implementation intentions in the entrepreneurial process: concept, empirical findings, and research agenda

Prior studies find sizable gaps between entrepreneurial intentions and subsequent actions. We extend models of entrepreneurial intentions by drawing on action phase theory to better understand how entrepreneurial intentions translate into actions. Our study focuses on the effects of implementation intentions on taking entrepreneurial action. The analysis uses two waves of survey data on 422 individuals, from the Swedish general population, who had an explicit interest in starting a business and who reported on their actions 6 months later. We test and find support for a moderated mediation model in which implementation intentions mediate the effects of goal intentions on taking entrepreneurial action. We further find the mediated effect to be even stronger for those confirming a strong intention to start a new business. We provide an in-depth discussion of the concept of implementation intention and an extensive research agenda.Peer reviewe

Innovation in Entrepreneurship Education: Developing Competitive Advantages for MBA Students

For the last decade entrepreneurship education has grown to become a major discipline in several universities and colleges, particularly in the United States, Europe, and other developed nations. Nevertheless, comprehensive entrepreneurship programs are starting to be implemented in higher-education institutions across emergent economies as well. Everywhere around the world, entrepreneurship students need to gain skills and knowledge that can help them get started and have better opportunities to succeed with their ventures. At CETYS Universidad, a private non-for-profit school in Mexico, an Entrepreneurship Concentration MBA program was designed and developed around the Entrepreneurial Life Cycle and Entrepreneurship Process frameworks. The program is intended to build entrepreneurship competencies in MBA students, nurture an innovative mindset, and help them increase their entrepreneurial self-confidence and capabilities. It is the first program of its kind to be offered in the northwest region of the country, and one of the few in Mexico. RESUMEN Durante la última década, la educación empresarial ha crecido hasta convertirse en una disciplina importante en varias universidades y colegios, particularmente en los Estados Unidos, Europa y otras naciones desarrolladas. Sin embargo, los programas integrales de emprendimiento también están comenzando a implementarse en instituciones de educación superior en economías emergentes. En todo el mundo, los estudiantes de emprendimiento necesitan adquirir habilidades y conocimientos que puedan ayudarlos a comenzar y tener mejores oportunidades para tener éxito con sus empresas. En CETYS Universidad, una escuela privada sin fines de lucro en México, se diseñó y desarrolló un programa de MBA de Concentración en Emprendimiento en torno a los marcos de Ciclo de Vida Emprendedor y Proceso de Emprendimiento. El programa está destinado a desarrollar competencias empresariales en los estudiantes de MBA, fomentar una mentalidad innovadora y ayudarlos a aumentar su confianza en sí mismos y sus capacidades empresariales. Es el primer programa de este tipo que se ofrece en la región noroeste del país y uno de los pocos en México.First editio