WHO SHOULD READ THIS BOOK?
This book is targeted to students at academic institutions in entrepreneurship programs and at small-business management and business schools, their teaching staff, and researchers in entrepreneurship and small business. Most important, this book is for entrepreneurs and future entrepreneurs, be they students or people who are still engaged in corporate jobs. It provides a foundation for those who want a wider overview of what starting a business means and involves by introducing the entrepreneurial business phases in different countries, cultures and sectors of industry, as well as at different levels of success.
The book includes a broad introduction to the field of entrepreneurship in order to familiarize the readers with the most well-established terms, concepts and models derived from research in the field that has contributed to this area with its robust academic and practical perspective. Each chapter includes references for the readers' convenience, to expand upon their knowledge on the different topics discussed and analyzed in this book.
Most importantly, the book is enriched with a range of case studies of active, real-world entrepreneurs from different countries based on their narratives.These case studies are introduced in every chapter, followed by questions for discussion to allow students and entrepreneurs of diverse backgrounds to learn from others' previous experiences. The wide range of case studies was chosen to enable almost any entrepreneur to identify with the stories by spotting similarities to his/her personal or business's characteristics. As such, the reader will more easily understand how entrepreneurial concepts can be applied to real business situations encountered in his/her entrepreneurial realm. The case studies, contributed by entrepreneurs from around the world, were collected by the author, who personally conducted all interviews face-to-face, and over the telephone and Skype.
An annotated list of internet resources is introduced at the end of some chapters, including sites that offer useful reference information for the book's topics, thus encouraging their implementation. The list does not attempt to cover all of the websites and internet resources relevant to entrepreneurs, but rather to give the readers examples of such resources, which mav assist them in their search for others.
ENTREPRENEURSHIP IN A GLOBAL CONTEXT
Entrepreneurship is the predominant form of business organization: statistics from the Global Entrepreneurship Monitor (GEM) indicate that roughly 60—90 per cent of businesses worldwide are entrepreneurial. In most countries, entrepreneurship is emerging as the major factor paving the way for economic development, by having a synergistic impact through job creation, innovation, helping to increase female, ethnic and minority participation in the workforce and alleviating local poverty in inner cities and suburban areas (Kariv et al. 2009; Kariv, Menzeis and Brenner 2010).
Many books have been published to guide budding entrepreneurs in launching businesses, familiarize individuals with the entrepreneurial realm, and introduce entrepreneurial thinking, spirit and know-how to potential and active entrepreneurs. Most of them portray local economies; alternatively, they focus on the US economy, which tends to surface in most books as the point of reference for a discussion on entrepeneurship in many other economies. This book, however, embraces diversity, and is specifically targeted to expose the differences between countries and cultures, as well as the core topics in entrepreneurship. There is a need to reveal the realities of the various entrepreneurial cultures and economies around the world, and to bring diversity in entrepreneurship to the forefront of research and practice, especially because books presenting such a broad perspective are scarce. This dearth led to the writing of this book, in order to provide a platform for discussions on the main issues of entrepreneurship through multifaceted and multicultural lenses.
As such, one of this book's more important aspects lies in its broad international coverage of activities involved in launching and managing a successful venture. Core activities of entrepreneurs, be they from Canada, Israel, Great Britain, Malaysia, Australia, Kenya, the United States, China, or elsewhere, are illustrated and discussed as case studies and 'at-a-glance' anecdotal stories. The success stories of entrepreneurs' from twenty-two countries, covering all continents, are presented: each one emphasizes a different aspect of entrepreneurial activity, while together they provide an overview of the global phenomenon of entrepreneurship.
Specifically, this book traces the entrepreneurial path with different case studies, which are the stories of entrepreneurs from different countries and cultures, possessing different backgrounds and human capital (age, educational level, entrepreneurial experience), having diverse motivations to become entrepreneurs, and influenced by different environmental and cultural determinants. Their businesses are from various sectors of industry, in different phases of development, and varied in terms of their success experiences. For example, this book illustrates the complexities of the environment's effects on the entrepreneur and the entrepreneurial business by presenting the case of Baby-Dalozo, which offers a catalogue, a magazine and a website for baby products in Hungary; the entrepreneurial culture is introduced in the story of Shlomi and Osnat Zingler, the Israeli franchisors of Leonidas Belgian Chocolates, who demonstrate a pure entrepreneurial spirit in their daily routines; innovation in the entrepreneurial context is presented by Speak-ing-4-u, Australia, which was launched as a most innovative idea and business in 1980, before widespread use of the internet for marketing; building a concept in marketing is demonstrated by FaiYang, the owner of e-HK.Flowers, Hong Kong, specializing in web-sourcing for delivery and shipment of specialized flower bouquets, and mentorship is explored by tracing the road taken by Rutujit Jindal, an active university professor in India who works independently as a paid mentor, and the very different story of Paterina Cammarata, of Verona, Italy, the new owner and CEO of Consiglio, a family enterprise that provides counseling and mentoring services for the business sector in Italy. These are just a few examples of the book's concept: through this variation, the book attempts to identify the core essence of entrepreneurship that emerges in any entrepreneurial business.
The book's overall perspective is practical, built upon a background of the main theoretical models and concepts in entrepreneurship — its ideas and recommendations therefore stem from - odi practice and theory.
BASIC THEORETICAL MODELS IN ENTREPRENEURSHIP AT A GLANCE: A RESEARCH EVOLUTIONARY PERSPECTIVE
Entrepreneurship is the world's oldest profession, known as a popular employment feature of the pre-industrial revolution era, which persisted throughout the 100-year industrial revolution and -las been expanding ever since. A major explanation for entrepreneur ship's steadfast persistence through the years is its ability to change and re-change form, renew itself, adjust to the demands of a particular time and place, and reinvent itself through the development of economic, technological, social and regulatory conditions.Today, the entrepreneurial society is still expanding but it is also continually transforming and redefining itself, such that the market and society as a whole can no longer imagine a world in which entrepreneurship would not exist.
A quick overview of the evolution of entrepreneurship illustrates how far we have come and enables us to envision future developments in the entrepreneurial realm (Churchill et al. 1987; Gavron, Cowling and Westall 1998; Schoonhoven and Romanelli 2001; Von Bargen, Freedman and Pages 2003).
The evolution of research into entrepreneurship began in 1730, when Richard Cantillon, a Parisian banker and economist, introduced the term entrepreneur (literally, 'undertaker' in French). His pioneer Essai sur la Nature du Commerce en General presented his first definition of entrepreneurship as self-employment of any kind. He stated that entrepreneurs buy at certain prices in the present and sell at uncertain prices in the future. The entrepreneur is a bearer of uncertainty, he concluded. Following this, the French Jean Baptiste Say (1880), inspired by Adam Smith's economic theories, joined a group of laissez-Jaire economists known as the ideologues, who sought to relaunch the spirit of enlightenment in republican France. Say emphasized the essential nature of entrepreneurship to society as a whole, and defined the entrepreneur as the agent who unites all means of production and who finds in the value of products, the re-establishment of the entire capital he/she employs, and the value of the wages, interest, and rent he/she pays, as well as profits belonging only to him or her. Taking this a step further by focusing on the 'central figure' of the system, Frank Knight (1921), the American economist founder of the Chicago school and author of the book Risk, Uncertainly and Profit, added the entrepreneur's attempt to predict and act upon changes within markets, and emphasized the entrepreneur's role in bearing the uncertainty of market dynamics. In the long run, Knight stressed, entrepreneurs are required to perform fundamental managerial functions, such as direction and control.
Joseph Schumpeter (1934), the Austrian economist and political scientist, argued that perfect competition would not eliminate profits due to uncertainty, and he was the first to emphasize the role of innovation in the entrepreneurial realm. In his first book, Theory of Economic Development (1911), his popular book Capitalism, Socialism and Democracy (1942), and others, Schumpeter equated entrepreneurship with the concept of innovation applied to a business context. Schumpeter said that the entrepreneur is the innovator who implements change in the marketplace by creating new combinations. These new combinations can take on several forms: the introduction of a new good or quality thereof; the introduction of a new method of production; the opening of a new market; the conquest of a new supply source of new materials or parts; getting a new organization off the ground. As such, the entrepreneur moves the market away from equilibrium. In contrast to Knight, Schumpeter consired managers of already established businesses to be non-entrepreneurs.
Penrose (1959) in The Theory of the Growth of the Firm (see Penrose 19S9; Pitelis 2005) and her colleagues Barney (1991a, b), Mahoney and Pandian (1992) and Wernerfelt (1984), all from a resource-based perspective, asserted that entrepreneurial activity involves identifying opportunities within the economic system. Like Schumpeter, thev argued that managerial capacities differ from entrepreneurial capacities. Later on, the American economist Harvey Leibenstein (1979) claimed that the entrepreneur fills market deficiencies through input-completing activities. Entrepreneurship involves activities necessary to create or run an enterprise where not all markets are well established or clearly defined and/or in which relevant parts of the production function are not completely known. Israel Kirzner (1973, 1979) stressed that the entrepreneur recognizes and acts upon market opportunities, and that an entrepreneur is essentially an arbitrageur. In contrast to Schumpeter's view, the entrepreneur moves the market toward equilibrium.
In the 1950s, following the work of Arthur Cole, attention shifted away from economic functions to more personal analyses of individual entrepreneurs. During this phase of development in the field, many researchers attempted to discover common character traits that might help distinguish entrepreneurs from non-entrepreneurs, including the former's alleged 'need for achievement', a proclivity for risk-taking, an internal locus of control, and even one's place in the family birth order (Hornaday et al. 1985).
Prof. Louis Jacques Filion, in his research report (1997) 'From entrepreneurship to entreprenology', presents and discusses the trends in the field's development.
NATIONAL CULTURE AND ENTREPRENEURSHIP
Cultures are powerful phenomena. They can shape behavior at the individual level and affect institutions at the national level. However, research in entrepreneurship has revealed that some cultures 'produce' higher levels of entrepreneurial activity, in terms of innovation, opportunity recognition and exploitation, creativity, proactivity, search for business support, and actualization of the business plan (Busenitz and Lau 1996; Lindsay 2005).
Researchers in various disciplines are intrigued by the relationship between culture and levels of entrepreneurial activity, and agree on the considerable and vast effect of culture on entrepreneurship.
This book aims to demonstrate different cultures in the entrepreneurial realm (e.g., entrepreneurs from different countries or different sectors of industry), using different institutionalized assistance for their businesses, of different genders and ages. These parameters, among others, represent the differentiation between entrepreneurs as influenced by national culture, business culture, gender-related culture and generation-based culture. Although cultural influences are powerful, it is this book's objective to purify entrepreneurship and reveal its core attributes, i.e., an innovative individual who launches a business can be Indian or Israeli, man or woman, baby boomer or GenerationY; he/she is still an entrepreneur.
Culture is an inherent construct of entrepreneurship and has significant effects on: (1) institutional profiles (e.g., cognitive, regulatory and normative dimensions); (2) behavioral dimensions with respect to business implementation styles, business plans, management styles, and (3) beliefs (e.g., entrepreneurs' interpretation of the environment, the economic-structural determinants, potential customers' preferences). Yet, some concepts lie at the heart of entrepreneurship and cross-cultural variation, such as innovative ideas, visionary businesses, opportunity exploitation, and creative processes. These are considered the constructs of entrepreneurship, its genetic material so to speak, and they represent the collective meaning of entrepreneurship.
Culture is defined in many studies as a set of shared values, beliefs and expected behaviors embedded in the values that shape national institutions (e.g., social, educational, political and technological systems), all of which then reflect and reinforce national values and beliets i ~ee Figure 1). A country, community, or institution's culture is mirrored in many aspects of entrepreneurial life because these cultures reflect the degree to which individuals consider entrepreneurial behaviors and characteristics (e.g., innovativeness, risk-taking, creativity, proactiveness, etc.) as desirable or beneficial. As such, processes such as problem-solving, thinking outside the box. coping in vague situations, information-seeking, team management and opportunity identification will also be affected by the culture in terms of the levels to which they are applied, the way they are conducted, and the results that they achieve (Hofstede 1980b; Shane 1992, 1993; Davidsson 199S; Busenitz and Lau 1997; Busenitz, Gomez and Spencer 2000; Makino and Neupert 2000; Mitchell et al. 2000; Mueller and Thomas 2001; Hayton, George and Zahra 2002).
Many studies on the microperspectives of entrepreneurship have been skewed toward cultural values and entrepreneurial behavior stemming from Hofstede's (1980a, 1980b) taxonomy of significant cultural dimensions for explaining behaviors, preferences and beliefs of people in the organization (discussed later on in this book). These studies have stressed the notion that the effects of culture on entrepreneur sip consist of either boosting or blocking entrepreneurial behavior, for example, by introducing, via various means (media, schools,.teaching material, higher education, books, business orientation), the notion that some characteristics and behaviors (e.g., innovation, creativity, independent thinking) are attractive and rewarding, thereby prompting individuals to choose entrepreneurship as their preferred path. This, however, is not enough to foster entrepreneurship: countries supporting such characteristics should echo the national, entrepreneurial culture and facilitate engagement in entrepreneurship by establishing national-based support systems for innovative businesses: financial support schemes, fiscal incentives, social security systems, labor market regulation, bankruptcy legislation, media involvement, and educational institutions (e.g., financial support for studying technological programs in schools and in higher education; programs and training courses for entrepreneurs). Such national activities will be reflected in a growing number of entrepreneurial businesses at the national level.
In their instructive chapter, Zahra and George (2002) provide a categorization of international entrepreneurship definitions into: businesses engaged in the international arena (McDougall 1989; Tiessen and Merrilees 1999), businesses that seek to gain significant competitive advantage from the use of resources and sale of outputs in multiple countries (Oviatt and McDougall 1994; Zahra, Ireland and Hitt 2000), or through a combination of innovative, proactive, and risk-seeking behavior that crosses national borders (Shane 1993; McDougall and Oviatt 2000). In all cases, an
Macro: institutions' support in entrepreneurship
Micro-entrepreneurial spirit, thinking, characteristics Figure 1 The ^retro-verso' relationship of culture and entrepreneurial activity understanding of national cultures and hence national markets, especially entrepreneurial markets, is warranted.
At the microlevel, entrepreneurial-based characteristics and behaviors are the driving forces behind national institutions' establishment of means at the national level to facilitate the entrance into entrepreneurship of those individuals who choose it.
Studies investigating the behavioral dimensions of entrepreneurship have found differences in motivation to enter into entrepreneurship, management style, entrepreneurial behavior and the meaning of success and high-performing businesses for individuals coming from different cultures. For example, there are individuals who choose entrepreneurship because of a need for approval, perceived instrumentality of wealth or a need for personal development, reflecting the entrepreneurial spirit of their national culture. For others, coming from countries with lower levels of entrepreneurial spirit, the reasons for choosing entrepreneurship are: 'I have no other choice,' 'I cannot work for someone else,' 'I have been unemployed for a while now.' This clearly shows the effects of culture on entrepreneurial activity from both macro- and microperspectives (Hofstede 1980a, 1980b; Scheinberg and MacMillan 1988; Mitchell et al. 2000; Shane and Venkataraman 2000; Mueller andThomas 2001 ;Hayton, George and Zahra 2002; Shane 2003;Young, Dimitratos and Dana 2003; Kollinger, Minniti and Schade 2007).
Culture is a most important topic to the emerging transnationalistic patterns in entrepreneurship. Acknowledging that culture affects entrepreneurial behaviors will ease communication between entrepreneurs of different cultures and countries. Many entrepreneurs develop cross-national relationships (e.g., in strategic cooperations, joint ventures, acquisitions or entry mode into new markets), and/or maintain cross-cultural inter-firm relationships with employees and clients, suppliers and investors, and such relationships need to be effectively managed. A more thorough knowledge and awareness of cultures has become one of the major building blocks in ongoing entrepreneurial business activities, as such knowledge can be turned into a vehicle for learning new skills, fostering new ideas, reducing risk, and facilitating effective resource-sharing with people and businesses from different cultures. For example, finding foreign investors is much easier when the entrepreneur understands what the prospective investor emphasizes in a potential beneficial investment, while understanding the cultural orientations and values of target clients may enable a determination of how to penetrate the different markets, how to structure a business plan or how to make the pitch (Kogut and Singh 1988; Shane 1994; Steensma et al. 2000).
This book aims to acquaint its readers with a wide spectrum of cultural variation and to show how such variation 'paints' entrepreneurship in different colors, thereby promoting its multiplicity.
ENTREPRENEURS VERSUS SMALL-BUSINESS OWNERS
For many entrepreneurs, the launching stage is manifested by the establishment of a small business: most entrepreneurs cannot afford a bigger business, some prefer controlling the business's processes in a smaller business format, while others minimize risk by starting small. Yet, although there is overlap between entrepreneurial and small businesses, the distinction between entrepreneurship and small-business ownership is quite apparent: small-business owners are not necessarily entrepreneurs, even when entrepreneurs are small-business owners (Garland et al. 1984; Stewart et al. 1998; Miles, Covin and Heeley 2000; Runyan, Droge and Swinney 2008).
The definition of entrepreneurship ranges from 'Schumpeterian' individuals — the innovators fSchumpeter 1934), to those demonstrating an initiative-oriented, inventive behavior; individuals that behave proactively to achieve a business goal, individuals with a personal value orientation (Gasse 1982), those who are ambitious, growth-oriented, restless (Garland etal. 1984; Gundry andWelsch-001; Sexton et al. 1997), competitive (Covin and Slevin 1991), visonary (Filion 2002, 2004), and endeavor to lead and be influential in their environments. As such, entrepreneurs find ways to make exchanges in which the stakeholders see how they will benefit from cooperating in return for whatever the corporate entrepreneur needs by influencing and leading (Cohen 2002; Vecchio 2003).
Distinguishing them from small-business owners, entrepreneurs are portrayed as exhibiting a higher propensity for risk, being more motivated to perform research and development (R&D) in their businesses, to create new technology and to use and/or create networks to advance their business's goals (Schumpeter 1934; Vesper 1980; Miller and Friesen 1983; Covin and Slevin 1989; Lumpkin and Dess 1996). Moreover, unlike small-business owners, entrepreneurs strive to create value through creativity and innovation, by exploiting unexplored or undiscovered niches in the market and establishing a sustainable hallmark for their products and ideas (Garland et al. 1984; Brush and Chaganti 1998; Cooper 1993; Cooper and Artz 1995; Stewart and Roth 2001; Runyan, Droge and Swinney 2008).
For the most part, small-business owners actively manage their businesses; this is a unique and quite distinctive endeavor, because such businesses are fragile in terms of market penetration and survival. Unlike entrepreneurs, their main goal is to obtain money from the business, since initially they perceive it as a primary source of income, rather than a place for self-fulfillment or for establishing a sustainable hallmark. Therefore, small-business owners are likely to be risk-averse and to want to keep their business at a controllable level, thereby achieving long-term stability in a particular 'comfort zone' and reaching 'acceptable' business performance levels, rather than taking the entrepreneurial approach of maximizing their business performance or influencing the marketplace. Studies show that small-business owners have less of a preference for innovation than entrepreneurs and do not engage in new business practices or strategies to advance their business performance; similarly, they are less focused on innovation of their products and technologies (Vesper 1980; Garland et al. 1984; Stewart et al. 1998; Stewart and Roth 2001).
This book spotlights entrepreneurs, and draws their exclusive portrait by tracing the hub of entrepreneurial characteristics and behaviors, as exhibited by entrepreneurs from different places and cultures.
Today's definitions of entrepreneurship are diverse and the topics investigated within this framework are varied. The following are the main areas in research and practice:
• New venture creation — highlighting the reasons for venture creation, motivations, environmental characteristics and the importance of the context, personal and psychological characteristics of entrepreneurs, managerial characteristics of entrepreneurs versus managers (McClelland 1961; Gartner 198S).
• Emerging organizations — focusing on the resources for newly founded firms (Bird 1988; Katz and Gartner 1988).
• Joint ventures and international research — referring to entrepreneurial firms' collaborations, including franchises, as well as to country-wide and cross-cultural studies (Jchanson and Vahlne 1977; Hornaday etal. 1985; Hamel 1991; Lane and Lubatkin 1998).
• Entrepreneurship and economy — focusing on growth rates, longevity of newly founded firms, venture capital and financing start-ups (Baumol 1968; Bates 1990; Porter 1998).
• The push—pull theory — or its interpretation in the opportunity-based versus necessity-based conceptualization of entrepreneurship — provides an important point of departure for the development of entrepreneurship theory vis-a-vis economic considerations.
The opportunity-based conceptualization of entrepreneurship was developed by Howard Stevenson and collaborators, echoing Kirzner's (1973) classical definition regarding alertness to opportunity — defining entrepreneurship as a process by which individuals pursue opportunities without regard to the resources they currently control; thus opportunity- is considered the bridge that connects the unfulfilled market's needs and the solution that might satisfy those needs (Stevenson and Jarillo 1990).
The necessity-oriented approach, on the other hand, addresses starting a business because no better alternative to earning a living exists: it is a matter of survival, and it is more strongly associated with developing economies than with developed ones (Timmons et al. 1987;Timmons 1999). Studies on Latin America and Africa address this basic approach in exploring entrepreneur ship.
Broadly, new ventures founded by opportunity entrepreneurs are considered to have much stronger positive long-run effects on the economy in terms of emplovment, innovation, and growth than start-ups initiated by necessity entrepreneurs.
• New venture performance — referring to the firms and their performance implications and the fit between the firm and the environment (Stuart and Abetti 1987; Kaman and Slevin 1993; Lumpkin and Dess 1996), as well as demographic studies of business start-up growth and survival.
• Organizational learning and the resource-based view — focusing, among other things, on entrepreneurial education and research (Levitt and March 1988; Barney 1991a, 1991b; Conner 1991).
• Social networks — highlighting the importance and effects of social networks on entrepreneurial dynamics and success (Granovetter 1973; Larson 1992; Uzzi 1997); inward and outward networking and transnational networking.
• Entrepreneurial culture — exploring the unique culture of entrepreneurship (Hofstede 1980a, 1980b, 1980c; Shane 1993, 1994; Mitchell et al. 2000; Hayton, George and Zahra 2002).
Other interests, such as high-technology ventures, incubators and spin-offs, as well as case studies, are also part of entrepreneurship research.
In summary, throughout the evolution of entrepreneurship research, entrepreneurs have often been considered those who bear risk while pursuing opportunities, and have often been associated with creative and innovative actions. Entrepreneurs also take on a managerial role in their activities, but routine management of an ongoing operation is not considered to be entrepreneurship. In this sense, entrepreneurial activity is fleeting: an individual may perform an entrepreneurial function in creating an organization, but later is relegated to the role of managing it without performing any entrepreneurial function. Following this, many small-business owners would not be considered entrepreneurs.
THE BOOK'S APPROACH
This book traces the entrepreneurial process through the theoretical building blocks of entrepreneurship, i.e., from the resource-based, process-oriented and output-oriented perspectives. In addition to grounding the theoretical fundamentals of entrepreneurship, these can also be translated into entrepreneurial practices for the conception and initiation of a successful new venture in the marketplace.
The book has been organized to follow the logical progression of starting a new entrepreneurial venture so that by the end of the book, students will have a complete and comprehensive understanding of how to start and operate an entrepreneurial business'. The topics presented and used in Part I focus on the resources of the entrepreneur and entrepreneurial business — the resource-based approach to entrepreneurship, introduced in this book through the general ruestion 'who is the entrepreneur?'The resource-based approach in this context can be viewed a a continuing search for competitive advantage in the creation, acquisition, utilization and management of a business through valuable, rare, inimitable, or non-substitutable business resources (Barney 1991a), such as tangible and intangible assets, skills, competencies and learning mechanisms. In this book's context, the focus is trained on the entrepreneur's motivation, human capital, psychological characteristics and creativity, and on education and training for entrepreneurs
Who is the entrepreneur?
a. Potential entrepreneurs: Motivation Human capital Psychological
characteristics Creativity Innovation
b. Active entrepreneurs
c. Identifying potential entrepreneurs
d. Education and training for entrepreneurship
How do entrepreneurs launch their ventures?
a. Creating an idea
b. Opportunity exploitation
c. Launching a venture
d. Business plans
e. Managing the venture: people, tasks, plans, goals, knowledge, creativity and innovation
How do entrepreneurs grow their businesses:
a. The firm's stages and demands
b. Support and training: mentorship, counseling, incubators
d. Spin-offs, national and transnational expansion, mergers
e. Investors and investments
Environment -local and global
Figure 2 The book's model: the entrepreneurial process
How do entrepreneurs define business success?
a. Measuring firm's success -profitability, reputation, growth in number of employees, growth in number of clients, different target audiences
b. Types of entrepreneurial businesses: nascent, ownership, partnership, technopreneur, multipreneur, self-employed, intrapreneur, family business
— all resources which are fundamental determinants of die business's performance (Barney 199 la; Teece, Pisano and Shuen 1997) and that are perceived to provide a sustainable competitive advantage to entrepreneurial businesses (Lado, Boyd and Wright 1992). Students and entrepreneurs who read this book can learn how to enhance their entrepreneurship-relevant capabilities toward fostering their business's sustainable competitive advantage.
This perspective is followed, in Part II, by the process-oriented perspective, which presents the entrepreneurial venture's creation from the creativity and innovation that spark entrepreneurial ideas, to exploiting opportunities, testing a business concept in the marketplace, and implementing the concept through managing the entrepreneurial business, including marketing, finance and managing sustainable growth. In reading this part of the book, students and entrepreneurs will become acquainted with the multiple processes that can be applied bv entrepreneurs to run successful ventures, as well as identifying die specific advantages and weaknesses of diese processes in different business and environmental situations. The focus on the process enables adopting some techniques and strategies, as well as creating personalized strategies to manage the entrepreneurial business. Part III is oriented to entrepreneurial outputs, of both the entrepreneur and the business. This part includes a discussion on the business's success through the measurement lenses: evaluating the business's profitability, reputation, and growth levels, among other diings, will allow students and entrepreneurs to adopt and/or create standards to monitor their business performance and use processes diat will enhance fheir business success accordingly. One other main output of the entrepreneurial path is reflected in die types of entrepreneurial businesses that entrepreneurs choose: by finding the best fit for his or her entrepreneurial avenue (e.g., ownership, partnership, technopreneurship, multipreneurship, entrepreneurship from the home (e.g., mompreneurship), entrepreneurship with family members as in family businesses) among others, die entrepreneur ensures a self-fulfilling experience and consequently, an enduring and satisfying entrepreneurial career.
In one of this book's more unique features, seventy-one interviews were personally conducted by the author, in person and by telephone and/or Skype, with entrepreneurs from forty-five countries spanning all continents. From these interviews, twenty-two case studies and six at-a-glance cases are presented. Widi a few exceptions,2 details of me business and/or entrepreneur appearing in the case study were changed to protect the interviewee's privacy and ensure confidentiality.
Tracking down entrepreneurs in different countries for interviews for this book was an extremely complex task: the journey included chasing down entrepreneurs via federal/ governmental and private centers and agencies for entrepreneurs around the world, web, professional and private networks, recommendations from colleagues in the area of entrepreneurship from academic institutions worldwide, as well as from professionals working with entrepreneurs around die world; there were a few 'walk-ins', that is, entrepreneurs who had heard about our search for interviewees through word of mouth and were willing to take part in those interviews. The interviews were executed in two stages: first, the author introduced herself to die entrepreneur by e-mail and sought the entrepreneur's permission and willingness to be interviewed; upon approval, the author sent a one-page questionnaire to be completed and returned by e-mail. This allowed the author to prepare the questions for the interview. Interviews were executed via telephone, Skype and face to face, and all interviews were conducted in English3 — even diough most of the interviewees and die author were not native English speakers — and lasted around thirty to forty minutes. Of the included case studies, some of the interviews were conducted in several sittings and by different means to obtain additional information.
Some personal and/or business details of the entrepreneurs have been altered in order to protect their privacy. Only those entrepreneurs who specifically asked to be presented by their real names and details, and signed a contract to that effect, are presented accordingly. Many details are imaginary and any similarities to other existing businesses is random. In a few cases, we were asked, and agreed, to present the exact details of the business: formal letters to this effect were prepared and signed by the entrepreneurs. Except for the interview with the Israeli entrepreneurs, which was conducted in Hebrew.
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