Journal of Enterprising Culture

This paper reports on a comparative quasi-experiment of how perceptions of entrepreneurial growth strategies differ between students, managers and technology entrepreneurs. The differences in perceptions as to what critical factors drive three strategies: no growth, market share growth and annual profit growth across to stages: start-up and take-off are measured. The ranks of the critical success factors are the dependent measures and the strategies and the phases the independent variables. Results show that experience impacts the ability to distinguish between strategies. Results also show that the perceptions of the critical success factors significantly differ between the groups. Hence even experience will yield quite different cognitive maps.

The study of patterns of small firm strategic behavior, or strategic orientation, is gradually gaining prominence in the literature. Strategic behavior is a consequence of various antecedents, such as the prevalent management philosophy and environmental dynamism. It, in turn, determines the particular engineering stance adopted, structures and processes deployed, and ultimately, organizational performance.

The purpose of this paper is to critique, enhance and extend a model proposed by Aloulou and Fayolle (2005) that is focused particularly on the entrepreneurial orientation of small firms. A model is proposed for small firm strategic orientation that is based on a configurational approach, and applies the concepts of the adaptive cycle and the firm's lifecycle. The rationale for, and the various dimensions of the proposed model are described, and recommendations made for future research on small firm strategic behavior.

Recently, the interests in the performance of family firms in the capital market are on the rise. However studies on long-term performance give us little information about the performance of family firms in the initial public offering (IPO) markets. Building on agency theory, we investigated the effect of three IPO signals in family firm IPOs. Practices such as the appointment of outside non-family directors and waiting longer before going public significantly reduce underpricing. In addition, family owners' intent to retain large percentage of share in the long run is an indication of original shareholders' level of confidence in their own companies. Such confidence helps reduce after market investors' uncertainty and thus underpricing. On the other hand, family ownership at the IPO positively moderates the impact of non-family directors on underpricing.

One critical proposition in normative strategic management research is that an accurate perception of the environment by top managers is a prerequisite to attaining better organizational performance. However, recent entrepreneurship studies suggest that entrepreneurs are often leading or even causing environmental changes, and thus they may perceive greater industrial instability than there actually is. In this project, we examine if an over-perception of industrial instability exists among entrepreneurs. If it does, which perceptual mode (accurate perception versus over-perception) will benefit firm performance? We conducted the study in a highly volatile environment — China — and found that entrepreneurial orientation (EO) had an inverse U-shape relationship with perceptual acuity of industrial instability, indicating that a greater level of EO indeed led to an over-perception of industrial instability. However, we found that although perceptual acuity of industrial instability improved firm sales, it was negatively associated with organizational effectiveness evaluated by top managers. Additional analyses were conducted and implications were provided in the end.

This study examined entrepreneurial inclinations among vocational training centres (VTCs) using a sample of 508 trainees from 12 VTCs in Iringa region, central Tanzania. A majority of VTC trainees have interest in starting own businesses, motivated primarily by the need to have control over their own lives. While gender and having taken entrepreneurship courses have no significant effects on start-up inclinations, perceived chances of getting a job and background of entrepreneurial family are positively associated with interest in entrepreneurial intention. Results suggest a need to re-examine entrepreneurship training in VET and for policy makers to be careful in promoting entrepreneurship as an alternative career for those unable to secure paid jobs.