Entrepreneurial and Small Business Operations Commons^™

Lifecycle Pricing For Installed Base Management With Constrained Capacity And Remanufacturing, Andreas Robotis, Shantanu Bhattacharya, Luk N. Van Wassenhove

Research Collection Lee Kong Chian School Of Business

Installed base management is the policy in which the manufacturer leases the product to consumers, and bundles repair and maintenance services along with the product. In this article, we investigate for the optimal leasing price and leasing duration decisions by a monopolist when the production and servicing capacity are constrained. The effect of diffusion of consumers in the installed base is considered, with the ownership of the product resting with the monopolist during the product lifecycle. The monopolist operating the installed base jointly optimizes the profits from leasing the product/service bundle along with maintenance revenues and remanufacturing savings. We formulate …

When Does The Socio-Cultural Context Matter? Communal Orientation And Entrepreneurs' Resource Accumulation Efforts In Africa, Jane N. O. Khayesi, Gerard George

Research Collection Lee Kong Chian School Of Business

We examined the effect of entrepreneurs’communal orientation and social capital on entrepreneurs’ acquisition of resources, and the cost of raising those resources. Using an errors-in-variables estimation in a sample of 242 Ugandan entrepreneurs from Kampala, we find that shared identity is positively associated with the quantity of resources raised by entrepreneurs, whereas shared identity and communal orientation are associated with a higher cost of raising resources. Further, communal orientation positively moderates the relationship between kin composition and the quantity of resources raised; whereas communal orientation negatively moderates the relationship between trust, shared identity, and resources. In contrast, a high communal …

Financial Capital And Startup Survival, Jeongsik Lee, Wei Zhang

Research Collection Lee Kong Chian School Of Business

Are entrepreneurs liquidity-constrained? We attempt to answer this question by investigating the impact of financial capital on startup survival. The analysis of about 5,000 startups from the Kauffman Firm Survey data shows that, controlling for human capital, having some type of financial capital increases survival chances, supporting the existence of liquidity constraints. Interestingly, however, the effects are not uniform across types of capital: securing loans is associated with higher survival likelihood but receiving equity investments shortens startup longevity. Accounting for the endogeneity in financing using the Inverse Probability Treatment Weighted (IPTW) estimation reveals that the negative effect of equity capital …

International Entrepreneurship And Capability Development: Qualitative Evidence And Future Research Directions, Erkko Autio, Gerard George, Oliver Alexy

Research Collection Lee Kong Chian School Of Business

In this article, we explore how new capabilities emerge and solidify in new ventures that are faced with fundamental uncertainty from their environment. To do so, we draw from the organizational and entrepreneurial literature on cognition and capabilities. Using initial qualitative evidence from a multi-firm study in the context of new venture internationalization, we develop a cognition-based model of capability emergence in new ventures. Our findings extend the capability development and learning implications of internationalization to the fundamental character of organizing processes in start-ups. Moreover, we derive avenues for future entrepreneurship research on the origins and evolution of capabilities in …

The Business Model In Practice And Its Implications For Entrepreneurship Research, Gerard George, Adam J. Bock

Research Collection Lee Kong Chian School Of Business

While the term 'business model' has gained widespread use in the practice community, the academic literature on this topic is fragmented and confounded by inconsistent definitions and construct boundaries. In this study, we review prior research and reframe the business model with an entrepreneurial lens. We report on a discourse analysis of 151 surveys of practicing managers to better understand their conceptualization of a business model. We find that the underlying dimensions of the business model are resource structure, transactive structure, and value structure, and discuss the nature and implications of dimensional dominance for firm characteristics and behavior. These findings …

Nonprofit Organisations And Social Entrepreneurship Intentions, Wee Liang Tan

Research Collection Lee Kong Chian School Of Business

Nonprofit organizations are valued because they provide services that address unmet needs. Non-profit organizations who engage in social entrepreneurship augment their contributions through the new services, programs, enterprises and revenue generated. It is not surprising, therefore, for policy makers to encourage social entrepreneurship, social innovations and social enterprises. Such an initia-tive was introduced in Singapore recently. However, not all nonprofit organizations seek to innovate or create social enterprises. They may continue to devote themselves to their specific fields and exist-ing practices. Entrepreneurship research suggests that under certain conditions, organizations engage in entrepreneurship through new ventures, projects, and innovations. Hence, it …

National Venture Competition And Technopreneurship Development In Malaysia, Wee Liang Tan, Karl Egge, Osman Mohamed

Research Collection Lee Kong Chian School Of Business

In the global slowdown, there is a revived interest in entrepreneurship development particularly in new startups based on technology. Many countries see this as a basis for future growth and competitiveness. To encourage technology-based entrepreneurship, also called technopreneurship, business plan competitions could be one strategy. Typically one finds business plan competitions either for members of a region of a country (e.g.,SW Pennsylvania); or, as an extension of University programs in business and entrepreneurship (e.g., MIT). Certainly such competitions can generate and exploit interest in entrepreneurship. In Malaysia, beginning in 2001, a business plan competition with a difference has been established. …

Family Control And Ownership Monitoring In Family-Controlled Firms In Japan, Toru Yoshikawa, Abdul A. Rasheed

Research Collection Lee Kong Chian School Of Business

This paper focuses on a type of firms that have been traditionally neglected in both family business and governance research, namely, family-controlled, publicly-listed firms. Although principal-agent conflicts may be less prevalent in such firms, family control can potentially give rise to principal-principal conflicts, leading to expropriation of the wealth of minority owners by family owners. Superior firm performance and the willingness to distribute the profits through dividend payments would suggest the absence of such expropriation. Based on a sample of 210 OTC firms in Japan, we examined the relationships between family control and dividend payouts and profitability. Our results indicate …

Academic Entrepreneurs: The Role Of Star Scientists In Commercialization Of Radical Science, Reddi Kotha, Gerard George

Research Collection Lee Kong Chian School Of Business

We examine the effects of individual, team, and institutional capabilities on the governance of technology contracts. Star scientific teams may work on higher quality projects which may be of high or low risk, depending on the maturity of the technology. Arguments that assumed that both capabilities and risk are codetermined, and seldom diverge in their effects on incentive preferences, may be tenuous in these cases. We test our predictions using a two-stage model in a sample of 1,474 inventions that were licensed through performance or upfront contracts. We find that when individuals and teams have strong capabilities, they prefer performance …

Impact Of Culture On ‘Partner Selection Criteria’ In East Asian International Joint Ventures, Ravinder K. Zutshi, Wee Liang Tan

Research Collection Lee Kong Chian School Of Business

Selecting the right partner is important for the success of alliances and joint ventures. For international joint ventures (IJVs) from diverse cultures the partner selection process can become complicated. Prior studies have investigated the alliances and joint ventures to develop a set of objective criteria for evaluating potential partners. This paper reports the study of IJVs formed by Singapore firms in Peoples Republic of China and India. The intent was to develop a methodology for identifying partner selection criteria in a cross-cultural setting. The findings reveal that the partner selection process follows a different logic in Confucian societies. Trust has …

Entrepreneurship Education At Singapore Management University, Wee Liang Tan

Research Collection Lee Kong Chian School Of Business

This presentation focuses on the Singapore Management University approach to teaching entrepreneurship through classes, the environment of the students, and basic infrastructure elements such as knowledge, information, and resources. It defines the term itself as the process of doing something different or new as well as creating wealth for oneself and adding value to society. In addition, the presentation mentions ideas such as University-wide versus Program Specific approaches and core versus electives.

Corporate Entrepreneurship As Resource Capital Configuration In Emerging Market Firms, Daphne W. Yiu, Chung-Ming Lau

Research Collection Lee Kong Chian School Of Business

Network-based resource capital such as political capital, social capital, and reputational capital are critical in providing firms with special access to various resources and legitimacy in emerging markets. However, how these generic nonmarket forms of capital are transformed into value-adding, industry-specific, and firm-specific uses, which subsequently enhance firm competitiveness, remained unanswered. Adopting a dynamic capability approach, this paper posits that corporate entrepreneurship performs a unique role of resource capital configuration and transformation in emerging market firms by continuously renewing firm competences so that congruence with the changing environment can be achieved. Building on this conceptualization, we argue that the positive …

The Role Of The Board And Its Interaction With The Successor's Human Capital In The Asian Family Enterprise, Soo-Hoon Lee, Phillip H. Phan, Toru Yoshikawa

Research Collection Lee Kong Chian School Of Business

This study examined the human and social capital factors associated with higher post-succession firm performance in family enterprises in Singapore. We also investigated the moderating influence of the board of directors in terms of its service role as stewards of the enterprise. We found that a successor's industry experience and diversity of network ties were positively associated with firm performance and boards that focused their role as advisors to the successor enhanced post-succession firm performance.

Technological Change Management Strategies In Asian Small-Scale Businesses: Trends In Singapore, Thomas Menkhoff, Yue Wah Chay

Research Collection Lee Kong Chian School Of Business

Based on survey data on the change management behavior of Chinese small and medium sized enterprises (SMEs) in Singapore, the paper explores how small entrepreneurs are coping with the city-state's turbulent business environment, processes of technological advancement and accelerated change. Differences between so-called opportunistic entrepreneurs and small business ventures are examined. Conceptually, the paper is informed by theories of change management, strategic choice, entrepreneurship and Chinese business. Special emphasis is put on the identification of demographic characteristics of "technological change masters" in Singapore's small business sector so as to gain an understanding of both the dynamism and relative passivity of …

When Asian Small And Medium-Sized Family Firms Spread Their Wings, Wee Liang Tan

Research Collection Lee Kong Chian School Of Business

No abstract provided.

The Effects Of Entrepreneurial Growth Orientation On Organizational Change And Firm Growth, Wee Liang Tan, Thomas Menkhoff, Yue Wah Chay

Research Collection Lee Kong Chian School Of Business

Managing growth in an enterprise as it grows beyond the startup phase is a challenge for many entrepreneurs. One key element that can help or hinder growth is the entrepreneur. Entrepreneurial growth has been linked to micro variables (motivations and psychological attributes of the entrepreneur) and macro variables. However, few studies have examined the role of the growth aspirations of the entrepreneur on the necessary elements of organization change related to growth.

This paper reports a study employing a typology of entrepreneurs based on their growth aspirations using an established dichotomous scale devised by Smith to differentiate between what he …

Entrepreneurship As A Wealth Creation And Value-Adding Process, Wee Liang Tan

Research Collection Lee Kong Chian School Of Business

The author reflects on the development of the meaning of entrepreneurship. Entrepreneurship is the process of doing something different and new to develop wealth for individual and adding value of the society. He emphasizes that the domain of the entrepreneurship is not only limited to business arena. He adds that its spectrum has also covered the scope of activities of several institutions and organizations.

Incorporating Learning Through Doing In Entrepreneurship Education: The Case Of An University Industry Alliance In Asia, Wee Liang Tan, David B. Montgomery

Research Collection Lee Kong Chian School Of Business

With the developments in Asia, there is little doubt that entrepreneurship education would make it way across from the West to Asia. However, the form and manner it takes may differ because of the context and the definition of entrepreneurship adopted. With the differences in Asia and development of entrepreneurship policies adopted by the Asian policymakers, entrepreneurship education has variations across Asia. This paper outlines one such development in a new university in Singapore, involving the university with an industry alliance.

The Evolution Of The Disclosure Regime In Singapore, Wee Liang Tan

Research Collection Lee Kong Chian School Of Business

No abstract provided.

Managing Change In Asian Business: A Comparison Between Chinese Educated And English Educated Chinese Entrepreneurs In Singapore, Thomas Menkhoff, Ulrike Badibanga, Yue Wah Chay

Research Collection Lee Kong Chian School Of Business

Against the background of the current rapidly changing business environment, the article examines the organizational change management behaviour of the owner-managers of small and medium sized enterprises (SMEs) in Singapore. The analysis of survey data is aimed at ascertaining whether there are any differences between Chinese and English educated small (ethnic Chinese) businessmen in terms of Change Management (CM), a dichotomy that is of great historical and politico-cultural significance in Singapore. The survey data show that there are indeed differences between the subgroups (eg with regard to the initiation of a more participatory people management style) but these variations turned …

The Puzzle Of Insular Domains: A Longitudinal Study Of Knowledge Structuration And Innovation In Biotechnology Firms, Gerald George, Reddi Kotha, Yanfeng Zheng

Research Collection Lee Kong Chian School Of Business

In this study we explain the puzzle of insular domains: insular domains are niches where new innovation is built on the knowledge within the domain. Given the nature of knowledge needed for new innovation in an insular domain the puzzle is why do new firms enter these niches? In a longitudinal sample of 128 biotechnology start-ups founded from 1980 to 1999 we explain why start-ups enter insular domains and how the start-ups develop technology capabilities.

Optimal Order Quantities With Remanufacturing Across New Product Generations, Shantanu Bhattacharya, V Daniel R. Guide, Luk N. Van Wassenhove

Research Collection Lee Kong Chian School Of Business

We address the problem of determining the optimal retailer order quantities from a manufacturer who makes new products in conjunction with ordering remanufactured products from a remanufacturer using used and unsold products from the previous product generation. Specifically, we determine the optimal order quantity by the retailer for four systems of decision-making: (a) the three firms make their decisions in a coordinated fashion, (b) the retailer acts independently while the manufacturer and remanufacturer coordinate their decisions, (c) the remanufacturer acts independently while the retailer and manufacturer coordinate their decisions, and (d) all three firms act independently. We model the four …

Partnering Strategies And Performance Of Smes' International Joint Ventures, Jane Wenzhen Lu, Paul W. Beamish

Research Collection Lee Kong Chian School Of Business

The international joint venture (IJV) is an important mode in the internationalization of small- and medium-sized enterprises (SMEs). Internationalization in turn is an entrepreneurial behavior in the pursuit of growth. Partnering strategies in the formation of IJVs can have significant effects on the outcome of SMEs' international expansion. In this study, we examine the performance implications of two types of resources contributed by SMEs' IJV partners, host country knowledge and size-based resources. We develop and test three sets of hypotheses about the longevity and financial performance of a sample of 1117 international joint ventures established in 43 countries by 614 …

Where Should The Action Be - Inside The Classroom Or Outside The Classroom? A Comparison Of The Action-Learning Outcomes In Singapore, China, Korea, New Zealand And Australia, Jens Mueller, Wee Liang Tan, Hanjun Hu, John Thornton

Research Collection Lee Kong Chian School Of Business

No abstract provided.

Change Leadership In Small Enterprises: Evidence From Singapore, Thomas Menkhoff, Yue Wah Chay

Research Collection Lee Kong Chian School Of Business

Leading change processes in an enterprise is a challenge for many entrepreneurs. Numerous elements influence the outcomes of such transformation processes, including the adopted change leadership style, the implementation skills of the entrepreneur, the particular scenario of change in terms of urgency of change and resistance, the scale of change as well as macro variables. This article sheds light on the change leadership approaches of small Chinese entrepreneurs in Singapore. It aims at examining widespread common-sense assumptions that æAsianÆ small entrepreneurs adopt mostly directive-coercive (autocratic) change leadership approaches. We argue that there is indeed a great diversity and heterogeneity amongst …

The Systematic Nature Of Serendipity In Opportunity Discovery: Implications For The Theory Of Entrepreneurship, Reddi Kotha, Dimo Dimov, Gerard George

Research Collection Lee Kong Chian School Of Business

This paper endeavors to disentangle search from serendipity in discoveries of new opportunities. Whereas economic models focus on active search and the tradeoff between its costs and benefits, the Austrian economic tradition posits that individuals do not search for opportunities; it is their alertness that helps them to profit from arbitrage opportunities from the imperfect decisions of others. Further, their alertness reflects their unique prior experience. Yet, despite the intuitive soundness of these ideas, some recent experimental empirical work to test them has highlighted the need for stronger theoretical precision. Are serendipitous solutions better than active search solutions? Can serendipitous …

Social In Social Entrepreneurship: Altruism And Entrepreneurship, Partners In Social Entrepreneurship, Wee Liang Tan, John Joseph Williams, Teck Meng Tan

Research Collection Lee Kong Chian School Of Business

No abstract provided.

Created' Enclaves For Enterprise: An Empirical Study Of Singapore's Industrial Parks In Indonesia, Vietnam And China, Caroline Yeoh, Siang Yeung Wong

Research Collection Lee Kong Chian School Of Business

The dynamics of globalization have prompted governments to re-examine accustomed policies, and search for alternative strategies, in order to re-position their economies for the future. This paper explores the spatial context of state involvement in the new economics of competition, with the focus on Singapore's much publicized, and controversial, orchestration of its state enterprise network to encapsulate economic space for Singapore-based firms to expand into the Asian region. This strategic initiative is promulgated on the exportability of Singapore's æstate credibilityÆ, systemic and operational efficiencies, and technological competencies, to locations where these attributes are less certain. A logit model is applied …

Can Entrepreneurship Be Taught In An Action-Learning Format? We Compare Entrepreneurship Action Learning Outcomes For Undergraduate Students In Germany, Singapore, China, Korea, New Zealand, United States And Australia, Jens Mueller, Robert Wyatt, Heinz Klandt, Wee Liang Tan

Research Collection Lee Kong Chian School Of Business

No abstract provided.

To Pete Or Not To Pete: Review Of The Practical Entrepreneurship Teaching Engagement (Pete) Model To Produce Practically Relevant Entrepreneurial Learning: A Comparison Of The Effectiveness Of Action-Learning In Entrepreneurship In Singapore, China, Korea, New Zealand And Australia, Jens Mueller, John Thornton, Joe Dewberry, Wee Liang Tan, Hanjun Hu

Research Collection Lee Kong Chian School Of Business

Purpose: To discuss the effectiveness of a sustainable entrepreneurship training program in several countries in Asia, used by global firms to identify junior management talent, by applying the PETE model of creating an engaging action-learning program. Design/Methodology/Approach: Current literature is reviewed to make a case for the applicability of action-learning based entrepreneurship training. The results of interviews with more than 20 senior level managers of multi-national corporations in 5 Asian countries are compared to self-evaluations of more than 300 student participants and more than 30 faculty evaluations of the program. We use the Practical Entrepreneurship Teaching Engagement (PETE) model to …