The relationship between top management team (TMT) metacognition, entrepreneurial orientation and firm performance in Small and Medium Enterprises (SMEs)

This study integrates entrepreneurial orientation and top management team (TMT) behavioural integration, as a mediator and moderator respectively, to determine the effect of TMT metacognition on firm performance in SMEs. Fifteen hundred SMEs were surveyed and 140 usable returns were used in this study. The result revealed that risk in entrepreneurial orientation is often associated with lower firm performance and innovativeness and proactiveness could be considered the mechanisms through which TMT metacognition contributes most to higher organisational performance. This finding is significant for SMEs, whose resources are limited, and TMT could consider less risky projects, but still maintaining its innovativeness and proactiveness, particularly in the niche market areas. Furthermore, the empirical result supported previous findings that top managers’ abilities and behaviour collectively as a team could be seen as an important factor in their innovative and competitive outcomes in SMEs

The Study On Strategic Flexibility Of Malaysian SMEs (Manufacturing Sector)

This study discussed the concept of strategic flexibility and its application in the context of SMEs operating manufacturing sector in Malaysia

Top management team diversity and firm performance: the effects of team orientation and process "a study of Australian SME"

Thesis by publication.Includes bibliographical references.1. Introduction and oveview -- 2. Literature review -- 3. Conceptual framework and hypotheses -- 4. Research methodology -- 5. Data results -- 6. Discussion -- 7. Implications and conclusions.Previous research on the relationship between top management team (TMT) diversity and firm performance has reported inconsistent findings. Following scholars' suggestions and in an attempt to provide a better understanding of the role of TMT diversity, this study examines a relatively new aspect of managerial cognition known as "metacognition". It integrates insights from entrepreneurship literature with the upper echelons perspective to introduce the concept of TMT metacognitive diversity to the existing discussion on the TMT diversity-firm performance relationship. To further reveal how and under what conditions TMT metacognitive diversity functions effectively, this study integrates entrepreneurial orientation and TMT behavioral integration as a mediator and moderator respectively. Eleven hypotheses were developed and tested using the structural equation modeling (SEM). To supplement the survey data, seven semi-structured interviews (two TMTs) were conducted. Based on both the quantitative and qualitative findings, several theoretical and managerial implications were developed. This research makes a contribution to both upper echelons and entrepreneurship literature. It enriches upper echelons research by going beyond the traditional focus on TMT demographics and directly measuring managerial cognition. It advances the entrepreneurship literature by explaining entrepreneurial initiatives from the upper echelons perspective. Suggestions are made for future research.Mode of access: World Wide Web.1 online resources (291 pages) illustration, graphs, chart

Top management team entrepreneurial behavior : insights from team process

Integrating insights from the upper echelons perspective with entrepreneurship literature, this study argues for the importance of TMT (top management team) processes in understanding of their entrepreneurial behaviour. The implications of this discussion and possible extensions are presented in the concluding section.13 page(s

Designing business models for creating and capturing shared value: An activity-system perspective

Business models define configurations of activities that jointly enable a firm to create and capture value. The value paradigm is shifting from sharing created value to creating shared value in which firms and societies jointly create and share value to nurture more benefits for a sustainable business-environment symbiosis. Drawing on this logic, we develop a framework for designing business models that enable creation and capture of shared value. Our model builds on the practice theory and activity system and depicts business models as complex adaptive systems that co-evolve with markets. Using the shared value framework proposed by Porter and Kramer (2011) we propose three design themes namely the Product-Market Design (PMD), the Value Chain Design (VCD) and the Social Cluster Design (SCD). We specify features of each school from the activity perspective. Subsequently, we will discuss implications of our framework for theory, practice and management education and illuminate some directions for future research.26 page(s

Toward a theory of business models and business modeling in public entrepreneurship

Purpose: The purpose of this chapter is to introduce the concept of public business models and develop a theory for the process of developing and managing public business models. Methodology: This research synthesizes insights from various fields into a set of theoretical ideas that lay out what public business models are, to what extent they differ from commercial/industrial business models, and how they are developed and managed by public entrepreneurs. Findings: Developing and managing a business model is an entrepreneurial task that has been missing from the public entrepreneurship literature. Public entrepreneurs perform these tasks using public and private resources, leveraging public institutional systems, and developing capabilities that differ in several dimensions from private entrepreneurs due to the nature of public goods and existence of quasi-markets where public business models are developed and used. Research limitations/implications: This chapter opens new avenues for research in public entrepreneurship by suggesting that (1) public business models form the foundation of public entrepreneurship, (2) public business models differ from commercial business models not in their functionality but rather in their scope and design, and (3) public business models co-evolve with public institutions to maintain their legitimacy and value creation potential. Practical implications: This chapter equips public entrepreneurs with new insights into enterprising behaviors and the dynamism of value creation and capture in public ventures. Originality/value: The current study represents the first attempt to directly incorporate the notion of business models into the public entrepreneurship literature

Designing business models for creating and capturing shared value : An activity-system perspective

Business models define configurations of activities that jointly enable a firm to create and capture value. The value paradigm is shifting from sharing created value to creating shared value in which firms and societies jointly create and share value to nurture more benefits for a sustainable business-environment symbiosis. Drawing on this logic, we develop a framework for designing business models that enable creation and capture of shared value. Our model builds on the practice theory and activity system and depicts business models as complex adaptive systems that co-evolve with markets. Using the shared value framework proposed by Porter and Kramer (2011) we propose three design themes namely the Product-Market Design (PMD), the Value Chain Design (VCD) and the Social Cluster Design (SCD). We specify features of each school from the activity perspective. Subsequently, we will discuss implications of our framework for theory, practice and management education and illuminate some directions for future research

Research Design in Upper Echelons Theory: A Philosophical Analysis

12 page(s

Modelling the determinants and consequences of business model innovation in small firms

Through addressing gaps in the business model literature, we examine why small firms vary in their emphasis on business model innovation, (BMI); and how this affects their competitive growth. A theoretical model encompassing managerial, firm, and environmental level determinants of BMI was tested and related to the sales and employment growth of the firm. We analyzed data from 120 small firms using a partial least square (PLS) approach and found that an integrative approach provides a richer explanation of these associations because determinants at each level (managerial, firm, and environmental) explained some variance in a firms' pursuit of BMI. Emphasis on BMI also positively influences both sales and employment growth in small firms. The paper concludes with a discussion of the theoretical and managerial implications resulting from the findings of the study and we offer several suggestions for future research on business modelling for small firms.1 page(s

Genesis of entrepreneur business models in new ventures

In this article we endeavor to explore how a new business model comes into existence in the Australian cloud-computing eco-system. Findings from multiple case study methodology reveal that to develop a business model new ventures adopt a three-phase approach. In the first phase, labelled as business model ideation (BMID) various ideas for a viable business model are generated from both internal and external networks of the entrepreneurial team and the most viable one is chosen. Strategic consensus and commitment are generated in the second phase. This phase is a business modelling strategic action phase. We labelled this phase as business model strategic commitment (BMSC) because through commitment and the subsequent actions of executives resources are pooled, coordinated and allocated to the business model. Three complementary sets of resources shape the business model: managerial (MnRs), marketing (MRs) and technological resources (TRs). The third phase is the market-test phase where the business model is reified through the delivery of the intended value to customers and conversion of revenue into profit. We labelled this phase business model actualization (BMAC). Theoretical and managerial implications of these findings will be discussed and several directions for future research will be illuminated.7 page(s