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While unicorns are often associated with Silicon Valley, new data suggests a shift in this trend. This chapter documents the evolution of the global geography of unicorns. It analyses the development of the number of unicorns in both absolute numbers and relative to population and explores their distribution across industries. The analysis dedicates particular attention to the role of emerging markets’ economies. This is timely, as they have recently taken a more prominent role in the global unicorn landscape. Despite the highly skewed global distribution of unicorns, an increasing number of unicorns are found beyond the traditional hotspots. The chapter develops a research agenda and discusses whether targeting unicorns is sensible policy for emerging economies. We argue that the societal returns from targeting unicorns in emerging economies are highly uncertain.
This chapter focuses on China’s rise as an innovation leader. It examines the key actors in China’s innovation system and highlights the prime role of the state in China’s science and technology trajectory. It also underscores the ‘innovation chain’ concept recently embraced by China’s leadership. The chapter then focuses on the key role of technology hubs and the increased participation of Chinese enterprises (especially tech firms) in the transformation of China into a technology and innovation powerhouse and the birthplace of unicorns.
The European Union relies on decentralised agencies to implement important transnational regulations, such as certifying the safety of medicines. However, the authority of these agencies does not have ‘hard’ legal status and crucially depends on disseminating ideas and information effectively: what can be termed ‘political entrepreneurship’. This article provides the first comprehensive analysis of the political entrepreneurship of EU agencies by constructing a conceptual typology of entrepreneurial strategies. Drawing conceptually on transnational public administration, a new database is constructed of the ‘entrepreneurship’ of 33 EU agencies in 2014 based on their media communication activities, face‐to‐face networking in workshops and collaborations, and knowledge dissemination and ‘learning’ exercises. This is mapped against the political salience of agencies in the European Parliament and media. The mapping exercise shows four types of entrepreneurial strategies covering the population of EU agencies: technical functional, insulating, network‐seeking and politicised. The typology is validated through semi‐structured interviews in 11 EU agencies, showing the core characteristics of each type of strategy. The article concludes by arguing that this typology provides an important addition to existing categories of EU agencies based on autonomy and accountability, and advocates a future research strategy examining the interaction between agencies’ entrepreneurial strategies and the expectations and reactions of stakeholder audiences.
A social business responds to social problems usually ignored by institutions, mobilizing resources and generating employment. To gain more knowledge about this type of enterprise, the key factors that may influence social entrepreneurship are studied and compared with nonsocial entrepreneurship. This enables advances in the scientific literature and the design of more effective policies that encourage the creation of social enterprises. To achieve this goal, after delimiting the area of study, a sample of 25,631 entrepreneurs in 59 countries was used; 9792 of these are social entrepreneurs collected by the Global Entrepreneurship Monitor project in 2015 when a special issue focused on this topic. The results show that the majority of the factors that determine the decision to undertake nonsocial entrepreneurship also condition the individual to undertake social entrepreneurship, although the nature of their relationship or the intensity of the influence changes.
Social enterprise and innovation are inextricably linked in the literature (Chell et al. in Entrepr Reg Dev 22(6):485–493, 2010; Dees in Harv Bus Rev 76:54, 1998; Light in Stanf Soc Innov Rev 4(3):47–51, 2006). To date, research on social enterprise innovation has predominantly focused on micro-level factors, such as the social entrepreneur or organizational attributes. Inversely, recent empirical advances on social enterprise find a country’s social enterprise sector is influenced by macro-institutional factors, including form of government, stage of economic development, culture and model of civil society (Monroe-White and Coskun, in: Shaping social enterprise: understanding institutional context and influence, Emerald Publishing Limited, London, pp 27–48, 2017). Given the link between social enterprise and innovation, recent empirical findings around social enterprise beg the question, do macro-institutional factors similarly predict innovation by social enterprises? This paper uses a hierarchical linear model to examine the influence of national-level variables on social enterprise innovation. Results indicate that similar to social enterprise, macro-institutional factors predict social enterprise innovation. More specifically, macro-institutional factors influence the various types of innovations (product, process and marketing) differently. Moreover, country-level innovation is traditionally defined by economic factors, such as R&D funding and STEM workforce, however, these factors do not help explain social enterprise innovation. Given the social aspects of social enterprise innovation, to capture the full scope of innovation within countries, expanded definitions of national-level innovation should be considered.
Social entrepreneurship is an increasingly important concept in the study of voluntary and nonprofit organizations. In spite of the growing recognition of this concept, little is known about what individual characteristics might describe or explain who in society is likely to be (or become) a social entrepreneur. This preliminary study empirically addresses this question using data from a United States online panel. Our results suggest that social entrepreneurs are likely to be female, non-white, younger, and college-educated individuals with some business experience and who live in big cities. Social entrepreneurs also tend to have more social capital, as measured by their activity in clubs and organizations other than work, and they are more likely to be happy, interested in politics, extroverted, giving (to charity), and liberal ideologically. Although exploratory, these findings help describe the social entrepreneur and suggest ways in which this important actor in civil society can be better identified, understood, and perhaps cultivated.
The study of how nonprofits evolve is fundamental to gaining an appreciation of dynamic nonprofit organizational life, and to developing insight into how nonprofits emerge and transform over time. Using a nonprofit entrepreneurship perspective, this article highlights a number of key methodological challenges associated with the study of nonprofit entrepreneurship, including issues of identification and use of single key informants. The article also provides suggestions how to capture the often “messy” nonprofit entrepreneurship process by pointing to the need for longitudinal data, and by discussing the value of qualitative inquiry and methods.
This paper presents a review and synthesis of resources available to social entrepreneurs considering social franchising as an option for scale. We identified 20 publications produced by organizations supporting social franchising and four peer-reviewed journal manuscripts. Commonalities and differences between social and commercial franchising are discussed, with a focus on capacities and considerations needed to undertake social franchising. Based on our synthesis, we propose a seven-stage approach to guide social entrepreneurs in considering this option and to inform future research on social franchising as one potential mechanism for scaling impact.
Traditional business management was the machinery of control for industrial organizations that had sprawled beyond the oversight of their founders, an organizational innovation that became a profession and a science. The aim was the stability and predictability the financial sector demanded. But control brought increasing costs: (1) slow response to market changes, leaving established firms behind innovative newcomers; (2) bureaucratic inertia that strangled flexibility; (3) disengaged employees who felt their creativity and agility stifled. These failures weakened firms and lowered economic productivity. In the Kuhnian framework of scientific revolutions, the management paradigm entered crisis mode. Consistent with the Kuhnian framing, businesses are moving beyond management. Self-organization and enterprise flow are revolutionizing business models. Interconnected ecosystems replace bounded industries. Experimentation and feedback replace traditional strategic planning. Dynamic, autonomous teams replace hierarchies of authority. Liberated companies embrace dynamic cohesion rather than the rigidities of business administration. They operate in a post-managerial era.
Digital financial inclusion (DFI) has been widely recognized for its potential role in reducing poverty by fostering entrepreneurship. However, whether DFI benefits all social classes equally remains an open question. Integrating technology adoption and income stratification research, this study investigates the impact of DFI on income stratification – specifically lower-, middle-, and upper-income classes – across key entrepreneurial stages, including venture creation, investment, and performance. Using data from 36,557 household-wave observations in the China Household Financial Survey (CHFS), we find that (1) lower-class households are less likely to establish entrepreneurial ventures compared to upper-class households but are more likely to do so than middle-class households, and (2) they make lower investments in entrepreneurial ventures compared to their upper-class counterparts, and experience lower entrepreneurial performance than middle- and upper-class households. The results also show that, whereas DFI positively influences entrepreneurial venture creation, investment, and performance for lower-class households, these effects are less pronounced compared to those observed in middle- and upper-class households. The study advances an integrated view of DFI by examining its differential impacts across income classes and entrepreneurial stages and contributes to the ongoing debate about its effectiveness as a universal poverty reduction solution.
We investigate the impact of corruption on female leadership in Brazil using cross-sectional municipal-level data. Our findings suggest that corruption significantly reduces the proportion of working women in leadership roles. Additionally, corruption decreases female representation in leadership relative to men, though this effect is less robust. When examining sectors most vulnerable to corruption, the results remain largely consistent, but we also note that women tend to avoid these sectors entirely. Our findings suggest that corruption acts as a significant barrier to female leadership.
How has caste influenced entrepreneurship in India in the past and how does it do so in the present? Using the Industrial Census of 1911, this paper provides the first detailed caste-level mapping of firms in Indian business history and links it to the present by an analysis of the Economic Census of 2013–2014. It finds that while trading castes were dominant, there were significant regional variations and nontrading castes were far more important than usually posited in the literature. Over the course of a century, the social base of entrepreneurship has widened slowly but significant barriers remain. The paper argues that “caste embeddedness” through the nature of wealth distribution, social capital, and ritual purity affects entrepreneurial choices and presents a typology of “caste,” “caste-advantage,” “caste-restricted,” and “noncaste” businesses that characterize the economic life of India.
This paper explores the relationship between entrepreneurship, measured by the number of new firms per million inhabitants, and modern economic growth in Spain between 1886 and 2000. Following Audretsch and Keilbach’s methodology, our analysis seems to confirm that entrepreneurship has had a positive and statistically significant effect on GDP per capita and labor productivity. This finding challenges the traditional view that the entrepreneurial factor has hindered the country’s economic growth. Additionally, using data on the size and legal form of start-up firms, our results suggest that neither characteristic has been an important driver of Spain’s long-term economic growth. However, we find that the impact of both variables differs depending on the years studied. To our knowledge, this study is the first attempt to test econometrically the long-term contribution of entrepreneurship to Spain’s economic growth.
The Journal of Management and Organization (JMO) is celebrating its 30th birthday, which is a significant event given how the journal has shaped and influenced global management research and practice. As part of the commemorative activities this perspective article aims to highlight how the journal has contributed to the development of several sub-management themes. Each theme is analysed in terms of articles published in the journal in terms of establishing existing knowledge then explaining future research ideas. This helps to solidify the journal’s reputation and standing in the field in order to foster more management research that contributes to both theory and practice. Novel social and business approaches to future organizational and manager’s needs are addressed. This will inspire more meaningful management engagement in order to further support the evolution of management research.
Customer engagement is crucial for success and innovation in digital businesses, but its impact on digital startups, particularly on business performance, is underexplored. This study investigates the relationship between customer-related digitalization factors, engagement, and business performance. Using a cross-sectional survey and Partial Least Squares Structural Equation Modeling, data from 125 startups were analyzed. The findings reveal that digitalization factors, encompassing Data Security, Transparency, Consumer Reviews, and Effective Communication, significantly impact customer engagement and digital business performance. Additionally, customer engagement mediates the relationship between digitalization factors and digital business performance, highlighting its critical role in fostering customer loyalty, communication, and co-creation.
This systematic literature review comprehensively assesses the risks associated with implementing Industry 4.0/5.0 technologies. It clusters these risks into six groups (strategic, financial, operational, technological, environmental, and sociocultural). Using a PRISMA-guided approach, the analysis of 83 peer-reviewed papers identified 36 unique risks out of a total of 811. The findings reveal critical challenges, including in cybersecurity threats, financial burdens, technological obsolescence, and workforce adaptation. These results provide a structured risk categorization that can assist enterprises, in effectively mitigating risks and aligning their strategies with Industry 4.0/5.0 transitions. This framework closes knowledge gaps and offers actionable insights for a robust and sustainable implementation.
Generations of historians have seen the interplay between the early modern state and its armed forces, and between warfare and state formation, as key factors in the process of modernisation. The creation of the modern state was most powerfully expressed through the supposed symbiosis between absolute regimes and standing armies. The image of geometric order and discipline generated by formations of infantry drawn up in kilometre-long battle lines; the authorities’ direct involvement in provisioning, equipping, and uniforming its soldiers; central government’s reach into every aspect of warfare and military planning. All of these have been regarded as defining traits of the interconnection between the standing army and the state. Research on the inner structures of early modern military society has, until recently, been coloured by preconceptions about functioning hierarchies and chains of command, an increasingly effective military administration, rigid discipline, and corresponding efficiency in the waging of warfare. Such a top-down view remained unchallenged as long as researchers relied almost exclusively on sources derived from governmental and/or legal provenance, leaving an impression of overwhelming state authority reaching right down to the level of the common soldier.
This study examines how university curriculum reforms that increase course selection flexibility influence entrepreneurial outcomes. Departing from traditional emphasis on educational attainment, we explore how institutional changes in education shape entrepreneurial tendencies among alumni. Leveraging a reform that removed constraints on course selection at a major university, we find that increased educational choice significantly fosters entrepreneurship. Our analysis reveals partial support for the moderating effects of individual, family, and spatial factors: the positive impact of these reforms is contingent on the type of electives and courses taken, with stronger effects observed among alumni with entrepreneurial parents, those born in urban areas, and those from higher socioeconomic backgrounds. These groups leverage specific course patterns to align their educational choices with entrepreneurial aspirations, enhancing their likelihood of pursuing entrepreneurial ventures. However, these findings also underscore the potential for educational reforms to exacerbate inequalities, disproportionately benefiting those with preexisting advantages. By integrating insights on institutional changes, course-taking patterns, and individual moderators, this study advances understanding of the interplay between education and entrepreneurship, offering implications for designing more equitable educational policies.
Family dynamics can significantly influence entrepreneurship, yet the temporal complexities of this relationship remain inadequately explored. This special issue addresses this gap by emphasizing the intricate interplay between internal family evolvability such as generational transitions and identity shifts, cultural continuity, and external adaptability to rapidly changing economic, institutional, and technological contexts in China. We introduce a dual tuning model that highlights how entrepreneurial and family firms (FFs) strategically synchronize their internal and external temporal rhythms to manage conflicts and optimize performance. This lead article reviews existing literature, articulates the dual tuning model, and synthesizes insights from the articles in this special issue to illuminate how Chinese FFs navigate tensions between evolving internal dynamics and external market demands. We conclude by identifying promising future research avenues that leverage this temporal perspective to deepen our understanding of family dynamics and entrepreneurship in China.
New educational curricula are emerging to train physicians for healthcare in the 21st century. The University of Massachusetts Chan Medical School T.H. Chan School of Medicine (UMass Chan) implemented an MD curriculum redesign in the fall of 2022 that included seven educational pathways, including Entrepreneurship, Biomedical Innovation, and Design. This new pathway curriculum introduces students to the principles of innovation, entrepreneurship, basic engineering principles, and technology commercialization. It is modeled after the I-Corps curriculum with added material regarding engineering principles. I-Corps was initially developed by the National Science Foundation (NSF) to help scientists understand the commercial potential of their inventions. Major elements include the Business Model Canvas and Customer Discovery [19-22]. First-year (Class of 2027) and second-year (Class of 2026) pathway students were invited to participate in online surveys evaluating course material and their knowledge of course content. Initial results show that the program was well received and student self-assessment demonstrated significant improvement. Objective student knowledge also significantly improved. Novel curricula have the potential to transform medical education and prepare future physicians to practice healthcare in the 21st Century.