Building intellectual capital in incubated technology firms

Journal of Intellectual Capital, Volume 15, Issue 4, Page 516-536, October 2014.

Purpose – The value of relational capital generated by entrepreneurs with their internal and external environment (Hormiga et al., 2011a, b), provides considerable resources when properly leveraged. It is particularly important in environments such as the high tech sector of incomplete information and weak economic markets such as new products, markets or technologies (Davidsson and Honig, 2003). The purpose of this paper is to examine how incubated technology entrepreneurs build relational capital for a new venture formation in the social context of a Higher Education Institution. Design/methodology/approach – The study took a qualitative approach based on content analysis of business plans and in-depth interviews with 25 technology entrepreneurs on an incubation programme – South East Enterprise Platform Programme – for technology graduates in the South East of Ireland. Findings – The study found that technology entrepreneurs during new venture formation engaged in four types of relational capital activities, namely, development of networks and contacts, relationship building, accessing and leveraging knowledge experts and members of associations. Practical implications – Incubator programmes need to actively support social building activities of technology entrepreneurs. Higher Education Institutes knowledge assets and networks are critical elements in supporting incubator technology entrepreneurs. Originality value – The study identified four types of relational capital building. The authors also found using Jones-Evans (1995) categorisation of technology entrepreneurs that users, producers, opportunists and non-technical entrepreneurs engaged in client focused relational capital building, whereas researcher types networked with service providers and displayed arms length relational capital building styles.
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A quest for global entrepreneurs: the importance of cultural intelligence on commitment to entrepreneurial education

A quest for global entrepreneurs: the importance of cultural intelligence on commitment to entrepreneurial education
Marilyn M. Helms; Raina M. Rutti; Melanie Lorenz; Jase Ramsey; Craig E. Armstrong
International Journal of Entrepreneurship and Small Business, Vol. 23, No. 3 (2014) pp. 385 – 404
This article extends the management construct of cultural intelligence (CQ) to the entrepreneurship literature by examining CQ in the context of commitment to entrepreneurial education as a proxy for entrepreneurial intentions. Using a convenience sample of students enrolled in an entrepreneurship class, we investigated the relationships of international experience, CQ and commitment to entrepreneurial education. Our findings suggest international experience is positively related to CQ (H1) and CQ is positively related to commitment to entrepreneurial education (H2). Additionally, CQ mediates the relationship between international experience and commitment (H3). This research demonstrates the usefulness of CQ within the entrepreneurial context in the expanding global economy. Discussion and areas for future research focus on further testing of the proposed relationships in other entrepreneurial populations. Also, implications for entrepreneurial training and education related to increasing CQ through study and travel/living/working abroad should be explored.

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Corporate governance, value and performance of firms: new empirical results on convergence from a large international database

This article aims to revisit the link between corporate governance, value, and firm performance by focusing on convergence, understood as the way that non-US firms are adopting US best practice in terms of corporate governance, and the implications of this adoption. We examine theoretical questions related to conventional models (agency theory, transaction cost economics, and new property rights theory), which tend to suggest rational adoption of best practice, and contributions that alternatively consider country- and firm-level differences as possible barriers to convergence. We contribute to the empirical literature by using a large international database to show how non-US firms’ adoption of US best practice is having an impact on performance.

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Elements of Sustainable Business Models

The authors present the elements constituting an advantageous business model, and suggest how to achieve that competitive edge. They argue that traditional innovation processes with funnelling front-end, stage-gate with go/kill decisions, and similar processes have inherent limitations in such an inclusive concept. They propose an alternative approach, driven by strategic business options. A business model, like everything else, has a limited life span. Anew model requires radical changes in thinking and logics. Still, the move is not easy, and most attempts will fail. The right timing is tricky, plans to abandon an existing model might feel dispiriting, and the necessity to change can be blinded by past successes. This article discusses these complex aspects and the steps needed to overcome them. Finally, in ever-changing business competition it is not realistic to constantly renew inside-out. Instead, for a company to survive, its business model must have a very important quality known as resilience. This article is based on the authors’ extensive practical experience in a global business environment, as well as on their academic work.

  • Content Type Journal Article
  • Category Research Article
  • Pages 43-54
  • DOI 10.1260/1757-2223.6.1.43
  • Authors
    • Tapani Talonen, KONE Corporation, Global Technology, Finland
    • Kari Hakkarainen, Virike Consulting, Finland

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Competitive Cities: Which Are They, and Why Should We Care?

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With the majority of the world’s population now urban, cities are rising in prominence. Growing attention is being paid to cities’ potential to increase incomes and create jobs – whether through financial services and electronics manufacturing in Chennai, regionally integrated manufacturing around Guangzhou, or social and physical transformation in Medellin. Less prominent cities are asking how they can attain better economic performance. Hence economic competitiveness has become a preoccupation for city leaders – by which we mean a city’s ability to spawn, expand and attract businesses that create jobs for its residents, and to enlarge the overall economic pie.

So, how do cities make themselves more competitive? This year, the World Bank is investing in a Competitive Cities Knowledge Base (CCKB) initiative – a joint project between the World Bank Group’s departments working on Private Sector Development and Urban Development. The project includes in-depth case studies of economically successful cities across all continents. According to our current analysis, six of the most interesting cities for this work will be Bucaramanga (Colombia), Patna (India), Bandung (Indonesia), Agadir (Morocco), Kigali (Rwanda) and Izmir (Turkey). We are in the process of confirming these conclusions before beginning each of the case studies.

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The wisdom of crowds: The potential of online communities as a tool for data analysis

Publication date: April 2014Source:Technovation, Volume 34, Issue 4
Author(s): Marian Garcia Martinez , Bryn Walton
Online communities have become an important source for knowledge and new ideas. This paper considers the potential of crowdsourcing as a tool for data analysis to address the increasing problems faced by companies in trying to deal with “Big Data”. By exposing the problem to a large number of participants proficient in different analytical techniques, crowd competitions can very quickly advance the technical frontier of what is possible using a given dataset. The empirical setting of the research is Kaggle, the world׳s leading online platform for data analytics, which operates as a knowledge broker between companies aiming to outsource predictive modelling competitions and a network of over 100,000 data scientists that compete to produce the best solutions. The paper follows an exploratory case study design and focuses on the efforts by Dunnhumby, the consumer insight company behind the success of the Tesco Clubcard, to find and lever the enormous potential of the collective brain to predict shopper behaviour. By adopting a crowdsourcing approach to data analysis, Dunnhumby were able to extract information from their own data that was previously unavailable to them. Significantly, crowdsourcing effectively enabled Dunnhumby to experiment with over 2000 modelling approaches to their data rather than relying on the traditional internal biases within their R&D units.

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