ENTREPRENEURSHIP AND INNOVATION AND SOCIAL ENTREPRENEURSHIP IN VIETNAM: AN EXAMINATION FROM INSTITUTIONAL AND IDEOGRAPHIC LENS

This paper is an introduction to the special issue of Dalat University Journal of Science – Economics and Management on entrepreneurship in Vietnam. There are four papers in this special issue. The first paper examines the impact of institutions on entrepreneurship using data from the Provincial Competitive Index. The second paper utilizes a different set of institutional indicators from the World Bank’s Vietnam Enterprise Survey to assess the impacts of business environment on the development of SMEs. In both papers, the authors find that institutional factors such as entry barriers, lack of policy support systems, informal payment, provincial leadership, lack of access to finance, administrative and procedures, and tax inspections hindered the development of entrepreneurship in Vietnam. The third paper investigates the absence of medium-sized enterprises and the necessity for the development of such enterprises is critically important for Hochiminh City. Using primary and secondary data sources, the author presents a case study on two strategic sectors in the city. The result indicates that medium-sized enterprises are proven to be more effective than large-scale enterprises. The last paper focuses on social entrepreneurship in Vietnam. The authors use Hofstede’s measure of cultural differences to compare social ventures in Vietnam and the United States

Strategic Value Creation through Enterprise Blockchain

Blockchain and other distributed ledger technologies have enormous potential for creating business value but have not yet been widely adopted. Enterprise blockchain systems are recognised as solutions to existing operational problems or ‘pain points’ but their potential for delivering value through strategic opportunities is not well understood. Drawing from literature on strategic alliances and the resource-based view of the firm, we identify avenues through which blockchain systems can contribute to a firm’s strategic capabilities and, as a result, to its sustained competitive advantage. We provide a framework for understanding how participation in blockchain solutions can enable companies to build upon existing strategic capabilities, strengthen collaborative capabilities and develop blockchain-specific capabilities. The framework can be useful to firms and service providers for incorporating strategic outcomes into the evaluation of blockchain investment opportunities

Social Entrepreneurial Ventures in Vietnam: An Ideographic Lens

Social entrepreneurial ventures are viewed as valuable tools for generating social and economic wealth and alleviating poverty in emerging economies. While there are many success stories of social ventures, there is a growing focus on the challenges in launching and managing social ventures in these economies. Social ventures in Vietnam face cultural obstacles and advantages that differ greatly from those in the US, where much of the research on social entrepreneurial ventures has focused. One key under-researched difference is culture. We use Hofstede’s cultural dimensions theory as an orienting framework for understanding cultural differences between the countries. We use this framework and three case studies of Vietnamese social ventures to develop a series of research propositions about the differences between Vietnam and the US. We suggest implications of these propositions for Vietnamese and US social entrepreneurs and managers and provide guidance for organizations seeking to form culturally sensitive partnerships. Trang’s vision for Fargreen’s business model was, “… to prove that businesses can do well by doing good, that you can build prosperous and sustainable farming communities, prioritize the environment and still create a successful enterprise. That’s why we called it Fargreen - going far by going green”... Trang contemplated how much easier it had been to develop Fargreen’s business model on paper than to implement it within the complex realities of Vietnam’s intricate social ties, evolving political and economic systems, difficult infrastructure, and unique history and culture. These factors amplified the challenges of balancing Fargreen’s financial objectives with its social mission (Sarason, Aziz, & Fifield, 2017)

Toward Improving Impact of Sustainable Ventures in Developing Countries: A Structuration View

Evidence shows that low‐income and developing countries disproportionately bear the negative impacts of unsustainable business practice and are the least able to withstand these impacts. There is an urgent need to address these problems as prospects for economic development are inexorably linked to the consequences of environmental degradation and negative social impact. As global awareness of this phenomenon has risen, the attractiveness of firms that take a balanced approach between pecuniary outcomes and sustainable practices has increased. Firms are under pressure to reduce the negative externalities they generate and increase positive externalities. An approach that increases the attractiveness and effectiveness of sustainable ventures can help firms get closer to this goal. We use structuration theory to develop strategy recommendations toward this goal. Structuration theory recognizes the duality of agency and structure, and provides a framework for understanding social phenomena at a meso‐level of analysis. The theory describes three structural configurations that have varying levels of influence in social settings. We build upon this theory to argue that the success of sustainable ventures is affected by the degree to which their actions cohere with the strongest social structures operating in their regions. We illustrate our theoretical argument by describing how three sustainable tourism ventures in Central America and three organic foods ventures in Southeast Asia are co‐creating social structures that result in positive externalities