Business Commons^™

Should Angel-Backed Start-Ups Reject Venture Capital?, Darian M. Ibrahim

Darian M. Ibrahim

The conventional wisdom is that entrepreneurs seek financing for their high-growth, high-risk start-up companies in a particular order. They begin with friends, family, and "bootstrapping" (e.g., credit card debt). Next they turn to angel investors, or accredited investors (and usually ex-entrepreneurs) who invest their own money in multiple, early-stage start-ups. Finally, after angel funds run dry, entrepreneurs seek funding from venture capitalists (VCs), whose deep pockets and connections lead the startup to an initial public offering (IPO) or sale to a larger company in the same industry (trade sale).

That conventional wisdom may have been the model for start-up success …

Law And Entrepreneurial Opportunities, D. Gordon Smith, Darian M. Ibrahim

Darian M. Ibrahim

No abstract provided.

Financing The Next Silicon Valley, Darian M. Ibrahim

Darian M. Ibrahim

Silicon Valley’s success has led other regions to attempt their own high-tech transformations, yet most imitators have failed. Entrepreneurs may be in short supply in these “non-tech” regions, but some non-tech regions are home to high-quality entrepreneurs who relocate to Silicon Valley due to a lack of local financing for their start-ups. Non-tech regions must provide local finance to prevent entrepreneurial relocation and reap spillover benefits for their communities. This Article compares three possible sources of entrepreneurial finance—private venture capital, state-sponsored venture capital, and angel investor groups—and finds that angel groups have distinct advantages when it comes to funding innovation …

Entrepreneurs On Horseback: Reflections On The Organization Of Law, Darian M. Ibrahim, D. Gordon Smith

Darian M. Ibrahim

“Law and entrepreneurship” is an emerging field of study. Skeptics might wonder whether law and entrepreneurship is a variant of that old canard, the Law of the Horse. In this Essay, we defend law and entrepreneurship against that charge and urge legal scholars to become even more engaged in the wide-ranging scholarly discourse regarding entrepreneurship. In making our case, we argue that research at the intersection of entrepreneurship and law is distinctive. In some instances, legal rules and practices are tailored to the entrepreneurial context, and in other instances, general rules of law find novel expression in the entrepreneurial context. …

Connecting Labor Market Institutions, Corporate Demography, And Human Resource Management Practices, M. Diane Burton, Robert W. Fairlee, Donald Siegel

M. Diane Burton

With the growing attention to entrepreneurship as an engine of job creation and economic development, it is important for social scientists who are broadly interested in labor market and employment topics to focus attention on new firms and the policies and practices that surround them. The authors argue that the next generation of scholarship should pay particular attention to labor market institutions, the ecosystem of existing employers, and the human resource management practices that provide the strategic context for entrepreneurs and shape the career opportunities for workers. Remarkable variation occurs across space and time in the prevalence and performance of …

Diagnostic Report On Undeclared Work In Kosovo: Preliminary Report, Colin C. Williams

Colin C Williams

Institutional Asymmetry And The Acceptability Of Undeclared Work: Synthesis Report, Colin C. Williams

Colin C Williams

Diagnostic Report On Undeclared Work In The Former Yugoslav Republic Of Macedonia, Colin C. Williams

Colin C Williams

Evaluating Competing Theories Of Informal Sector Entrepreneurship: A Study Of The Determinants Of Cross-Country Variations In Enterprises Starting-Up Unregistered, Colin C. Williams

Colin C Williams

Explaining Cross-Country Variations In The Prevalence Of Informal Sector Competitors: Lessons From The World Bank Enterprise Survey, Colin C. Williams

Colin C Williams

Starting-Up Unregistered And Firm Performance In Turkey, Colin C. Williams

Colin C Williams

Collective Action And Market Formation: An Integrative Framework, Brandon Lee, Jeroen Struben, Christopher B. Bingham

Brandon Lee

Undeclared Economic Activities Of Croatian Companies Findings From A Representative Survey Of 521 Companies, Colin C. Williams

Colin C Williams

Lighting The Flame Of Entrepreneurship Among Agribusiness Students, Christiane Schroeter, Lindsey Higgins, Carlyn Wright

Christiane Schroeter

Effectuation As Ineffectual? Applying The 3e Theory-Assessment Framework To A Proposed New Theory Of Entrepreneurship, Richard J. Arend, Hessam Sarooghi, Andrew C. Burkemper

Hessam Sarooghi

Effectuation is a proposed new theory of entrepreneurship, with insufficient empirical testing and critical analysis. Drawing on a new, comprehensive set of theory-building criteria—sourced from and complementing those of Robert Dubin and others—we provide the first formal assessment of effectuation as a theory. We highlight its strengths and weaknesses, leveraging the former to address the latter in five different directions that would build on the existing work to improve this theory. The assessment exercise also displays the value of our assessment framework in guiding the evaluation and development of other existing and future theories in entrepreneurship and management.

Law And Entrepreneurial Opportunities, D. Gordon Smith, Darian M. Ibrahim

D. Gordon Smith

No abstract provided.

Entrepreneurs On Horseback: Reflections On The Organization Of Law, Darian M. Ibrahim, D. Gordon Smith

D. Gordon Smith

“Law and entrepreneurship” is an emerging field of study. Skeptics might wonder whether law and entrepreneurship is a variant of that old canard, the Law of the Horse. In this Essay, we defend law and entrepreneurship against that charge and urge legal scholars to become even more engaged in the wide-ranging scholarly discourse regarding entrepreneurship. In making our case, we argue that research at the intersection of entrepreneurship and law is distinctive. In some instances, legal rules and practices are tailored to the entrepreneurial context, and in other instances, general rules of law find novel expression in the entrepreneurial context. …

Entrepreneurship: Theory And Application In A University Arts Management Setting, Paul Linden

Paul Linden

This article explores the applicability of entrepreneurship as an academic course of study with respect to the broader area of arts management pedagogy. A historical overview of primary texts ranging from the seventeenth to nineteenth centuries serves as a preface for a discipline-based perspective of its twentieth-century articulations. Primary theoretical exponents reveal the economic, sociological, and psychological underpinnings of entrepreneurship as it is developed as an academic topic. Mahoney and Michael’s subjectivist theory informs the relationship between entrepreneurship and the study of creative and cultural industries. Recommendations for specific pedagogical application include structuring and content for in-class activities and outreach …

Moving Education In2 The Future: Creating The Next Generation Of Innovators, Lawrence Bergie, Britta W. Mckenna

Britta McKenna

What started as planning for the next generation of inquiry-based learning led to an entirely new center for innovation and entrepreneurship! Hear how this innovative idea moved to the design of a physical innovation hub and see how IMSA has transformed a former computer lab IN2 a working prototype of their future space. Dive into the many aspects of creating innovation spaces: design process, STEM foundation and entrepreneurship cornerstone, Makerspace development through a student leadership and service initiative, collaboration potential with community partners and local/regional business entities, student inquiry and research potential and the ability to showcase area emerging technology …

Creating The Next Generation Of Innovators, Britta W. Mckenna, Lawrence Bergie

Britta McKenna

Our educational system has been designed to test for knowledge and to teach to tests that measure said knowledge. We train our students for tests, but they crave applied learning opportunities to connect their knowledge to the real world. Employers are looking for talent that can problem-solve, work well in teams, ask good questions, communicate and apply knowledge and skills.

Give Up, Catch Up, Or Keep Up With Innovation? An Educator's Dilemma, Britta W. Mckenna

Britta McKenna

Don't look now, but your students want more than the three R's for their school experience. Innovation, technology, entrepreneurship and the Maker Movement are changing what our students want to do and be in the future beyond what we can imagine today. Schools and teachers need to figure out how to respond to the DIY generation of makers emerging and be prepared to reshape education. In an information-rich age of smart phones, online learning, coding, gamification, apps, Internet of Things and digital badges, are today's schools ready for tomorrow's students?

Big Ideas “Ted” Talk Session: Inspiring Innovation And Inquiry, Lawrence Bergie, Britta W. Mckenna

Britta McKenna

The day will begin with six stories from innovative school districts, told in a short, engaging, “TED” talk format. After each story, David Chan and Henry Thiele will lead a time of reflection, sharing ideas, thoughts and connections. School professionals will share their stories about themes including: Inspiring Innovation and Inquiry.

Creating The Next Generation Of Innovators, Britta W. Mckenna, Lawrence Bergie

Lawrence Bergie

Our educational system has been designed to test for knowledge and to teach to tests that measure said knowledge. We train our students for tests, but they crave applied learning opportunities to connect their knowledge to the real world. Employers are looking for talent that can problem-solve, work well in teams, ask good questions, communicate and apply knowledge and skills.

The Quality Of Jobs Created By Entrepreneurs, Adam Seth Litwin, Philip Phan

Adam Seth Litwin

Few dare to challenge the conventional wisdom that small business is the engine of job creation. Indeed, in the United States, the image of the small business owner left largely unfettered to create novel products and services sits on the same cultural plane as baseball and apple pie, and one would be hard-pressed to find a policymaker who would openly question the wisdom that most new jobs arise either directly or indirectly from these small businesses. This near religious belief in the small business owner as job creator yields a steady stream of policies offering tax relief to small businesses, …

Quality Over Quantity: Reexamining The Link Between Entrepreneurship And Job Creation, Adam Seth Litwin, Philip Phan

Adam Seth Litwin

Although much has been written about the quantity of jobs created by entrepreneurs, scholars have yet to examine the quality of these jobs. In this article, the authors begin to address this important issue by examining nearly 5,000 businesses that began operations in 2004. They investigate the extent to which nascent employers provide what many think of as quality jobs—those offering health care coverage and a retirement plan. The authors find that because of small scale, constrained resources, and protection from institutional pressures, start-up companies do not provide their employees with either of these proxies for job quality, and their …

Nurturing Social Entrepreneurship And Building Social Entrepreneurial Self-Efficacy: Focusing On Primary And Secondary Schooling To Develop Future Social Entrepreneurs, Nareatha Studdard, Maurice Dawson, Sharon Burton, Naporshia Jackson, Brian Leonard, Williams Quisenberry, Emad Bellevue

Maurice Dawson

For the development of social entrepreneurs it is imperative that educators embrace the concepts and process of social entrepreneurship (Dees, 1998). Exploration of these concepts in education could prove beneficial to the community (Haugh, 2005). This chapter focuses on the positives of introducing social entrepreneurship education at the primary and secondary levels of education. Specifically, its central focus deals with building children's entrepreneurial self-efficacy at a young age. Several benefits, of increasing self-efficacy at a young age, are outlined. Benefits, such as entrepreneurship training, not only training students, but it helps to prepare them for the new knowledge-based economy. Further, …

Perspectives Of Entrepreneurship And Its Impact On Stakeholders’ Co-Creation, Ridhi Arora Research Scholar

Ridhi Arora

In the past decade, the topic of entrepreneurship has undergone a lot of scholarly examination by academics and management practitioners (Naudé, 2013). Entrepreneurship aims to bring about the cohesive integration of social, economic, institutional, and cultural environments, both at the individual level and the group level. The entrepreneurship concept has been built on the strong historical roots that have led to advancements in entrepreneurial research and its related areas. This chapter provides coverage of the various theoretical perspectives underlying the origin and evolution of entrepreneurship. As the concept of entrepreneurship represents a “multifaceted phenomenon” (Toma et al., 2014), I will …

Big Ideas “Ted” Talk Session: Inspiring Innovation And Inquiry, Lawrence Bergie, Britta W. Mckenna

Lawrence Bergie

The day will begin with six stories from innovative school districts, told in a short, engaging, “TED” talk format. After each story, David Chan and Henry Thiele will lead a time of reflection, sharing ideas, thoughts and connections. School professionals will share their stories about themes including: Inspiring Innovation and Inquiry.

Moving Education In2 The Future: Creating The Next Generation Of Innovators, Lawrence Bergie, Britta Mckenna

Lawrence Bergie

What started as planning for the next generation of inquiry-based learning led to an entirely new center for innovation and entrepreneurship! Hear how this innovative idea moved to the design of a physical innovation hub and see how IMSA has transformed a former computer lab IN2 a working prototype of their future space. Dive into the many aspects of creating innovation spaces: design process, STEM foundation and entrepreneurship cornerstone, Makerspace development through a student leadership and service initiative, collaboration potential with community partners and local/regional business entities, student inquiry and research potential and the ability to showcase area emerging technology …

Growth Roadmap Of Redivivus Technologies Pvt Ltd, Dipanjay Jayant Bhalerao

Dipanjay Jayant Bhalerao

Govinda Mahajan, MD of Redivivus Technologies Pvt Ltd started the automation IT solution organization in 2010.. As an entrepreneur Mr. Govinda wanted the business to expand from its current segment of Printing and Auditing Automation IT solutions more segments like manufacturing processes image processing. The business got major jolts when some key deals were lost to rivals just before the closure of deals. Redivivus Technologies had hired a consultant to analyze the current business model, which was now on the growth stage. The consultant and the MD had to analyze two things i.e. the improvement areas in bagging deals and …