Entrepreneur’s roles during business growth stage and their exit routes: The case of the public relations industry (original) (raw)
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Small business entrepreneurship in Vietnam: The case of the public relations industry
DeReMa (Development Research of Management): Jurnal Manajemen, 2021
A better understanding of entrepreneurship in different sectors and its motivations, roles, and challenges offer new opportunities for entrepreneurs to start their business and participate in the national and global economy. This research studied the different entrepreneurial factors that influence the growth stage of public relations companies in Vietnam. In particular, the research examined how the founder's role shifted during the growth stage, and the motivations behind the founder's decision to retain or release their control in this stage. Using the inductive, grounded theory approach to explore the decision of a founder in Vietnam’s public relations industry during a company’s growth stage, this study found that public relations founders in Vietnam are generally driven by the accomplishments and challenges picked up from their entrepreneurial journey. Their journey mainly revolves around managerial experience, as the managerial tasks would be more complicated and require better managerial skills to address the challenges. They are also open to delegating their role to a professional manager, who already possesses the required management skills, to support the business.
Proceedings of the Ninth International Conference on Entrepreneurship and Business Management (ICEBM 2020), 2021
With the increased importance of SMEs, especially in the Asia Pacific region, the demand for research on these topics continues to rise. The focus of this study is on the motivations of the founders behind their decisions for a growing business in an emerging Asian market, Vietnam. The findings of this study present that the public relations founders in Vietnam are generally driven by the accomplishments and challenges picked up from the entrepreneurial journey. They are not as focused on company control or economic gain from founding a company. They are also open to delegating their role to a professional manager, who already possesses the required management skills, to support the business. This study contributes to the scholarship of entrepreneurship and SMEs by exploring the entrepreneurial experience and decisions during the company growth stage. It challenges the assumption that entrepreneurs pursue growth and usually experience the growth versus delegation crisis.
Athens Journal of Business & Economics, 2023
Purpose: This study focuses on entrepreneurship in Vietnam. It explores a founder's motivations, challenges, and growth strategies through concrete examples from public relations. Design/methodology/approach: This study adopts an inductive, grounded theory approach and collects data through a series of in-depth interviews. Findings: The results of this study show that most Vietnamese public relations industry founders are reluctant to make decisions based on their needs. At first, none of them had sufficient management skills or considered managerial tasks to be the most difficult. They are also less likely to make the changes their companies need to grow. They prefer to run small businesses because moderate growth is considered more sustainable and manageable. Originality: Despite the rising importance of entrepreneurship and public relations in Vietnam, there are only a few studies on Vietnam’s public relations industry, and no previous work has explored why an entrepreneur decides to venture into public relations. Inadequate attention to the field calls for better understanding and research on this topic. Practical implications: This study expands the body of knowledge on Vietnamese entrepreneurship and provides practical implications and suggestions for businesspeople in Vietnam by providing insights into the founders’ startup and management journey. Keywords: entrepreneurship, entrepreneurial motivation, business growth, SME, public relations, Vietnam
Studying the Successor Startup Enterprises—A Case Study of Quang Binh Province, Vietnam
Open Journal of Business and Management, 2020
The paper aims to study and build a model to assess the success of startups. In Quang Binh province, Vietnam, in recent years, startup and entrepreneurship are being considered as goals and also a means to make three strategic breakthroughs, including institutions, infrastructure and human resources. With that trend, there are many new startups, young, vibrant and determined to realize their passion with intense business belief. However, there have not been many studies that assess the success and factors affecting the success of startup businesses in Quang Binh as well as in Vietnam. Therefore, the article systematizes the research in the world and in the country about the success and the factors affecting the success of startup businesses, thereby building a model to evaluate the success of the startup and be a scientific basis for researchers, investors to evaluate the success of startups. This study also makes practical contributions and the model can be used in Vietnam to increase the ability of success of startup enterprises.
Managers are constantly advised to behave like entrepreneurs, be opportunity driven, and experiment with products, services, processes, and business models. This pressure got more intense as the economy has become more competitive, more entrepreneurial, more demanding. Entrepreneurial Management seeks to uncover the processes of entrepreneurial activity from the cross-section of "individual" and "process" studies. It seeks to understand the ways in which entrepreneurial managers both respond to and shape the context in which they operate. Finally, it seeks to provide answer to the question of what professional managers can adopt from entrepreneurial behavior?
Handbook of Research on Strategic Management in Small and Medium Enterprises
The concept of the entrepreneurial manager is not new, although there are different views about the context, profile, and competencies. In general, there are two distinctive views-the first considers the entrepreneurial manager as an entrepreneur who manages his own business, and the second as a manager who plays the role of internal entrepreneur in large established enterprises. The present chapter focuses on the common ideas coming from the both views and critically reviews both conceptually and empirically outlined key entrepreneurial and managerial competencies in different environments and organizational contexts. The purpose of this chapter is to review the understandings of the distinctive core competencies of the entrepreneurial manager and to outline the challenges to their development as a basis for future research and development projects.
The ambitious entrepreneur: High growth strategies of women-owned enterprises
2001
During the last two decades, researchers have sought to develop categories of entrepreneurs and their businesses along a variety of dimensions to better comprehend and analyze the entrepreneurial growth process. Some of this research has focused on differences related to industrial sectors, firm size, the geographical region in which a business is located, the use of high-technology or low-technology, and the life-cycle stage of the firm (i.e., start-up vs. more mature, formalized companies). Researchers have also considered ways in which entrepreneurs can be differentiated from small business managers. One of these classifications is based on the entrepreneur's desire to grow the business rapidly. This is the focus of our study.To date, the media have paid considerable attention to rapidly growing new ventures. However, still lacking are large-scale research studies guided by theory through which we can expand our knowledge of the underlying factors supporting ambitious expansion plans. Some research has identified factors that enhance or reduce the willingness of the entrepreneur to grow the business. Factors include the strategic origin of the business (i.e., the methods and paths through which the firm was founded); previous experience of the founder/owner; and the ability of the entrepreneur to set realistic, measurable goals and to manage conflict effectively.Our study attempted to identify the strategic paths chosen by entrepreneurs and the relation of those paths to the growth orientation of the firm. The entrepreneurs sampled in this study are women entrepreneurs across a wide range of industrial sectors. Recent reviews of entrepreneurship research have suggested the need for more studies comparing high-growth firms with slower-growth firms to better delineate their differences in strategic choices and behaviors.Our study sought to answer the following questions: What characterizes a “high growth-oriented entrepreneur?” Is this distinction associated with specific strategic intentions, prior experience, equity held in previous firms, the type of company structure in place, or success factors the entrepreneur perceives are important to the business? Do “high growth” entrepreneurs show greater entrepreneurial “intensity” (i.e., commitment to the firm's success)? Are they willing to “pay the price” for their own and their firm's success? (i.e., the “opportunity costs” associated with business success and growth). Other relationships under investigation included different patterns of financing the business' start-up and early growth. Do “high-growth” entrepreneurs use unique sources of funding compared with “lower-growth” entrepreneurs?Eight hundred thirty-two entrepreneurs responded to a survey in which they were asked to describe their growth intentions along nineteen strategic dimensions, as well as respond to the foregoing questions. Some of the strategic activity measures included adding a new product or service, expanding operations, selling to a new market, and applying for a loan to expand operations. Actual growth rates based on sales revenues were calculated, and average annualized growth rates of the industrial sectors represented in the sample were obtained. This study showed that high-growth-oriented entrepreneurs were clearly different from low-growth-oriented entrepreneurs along several dimensions. The former were much more likely to select strategies for their firms that permitted greater focus on market expansion and new technologies, to exhibit greater intensity towards business ownership (“my business is the most important activity in my life”), and to be willing to incur greater opportunity costs for the success of their firms (“I would rather own my own business than earn a higher salary while employed by someone else”).The high-growth–oriented entrepreneurs tended to have a more structured approach to organizing their businesses, which suggests a more disciplined perception of managing the firm. In summary, results showed the group of high-growth–oriented entrepreneurs, labeled “ambitious,” as having the following distinctions: strategic intentions that emphasize market growth and technological change, stronger commitment to the success of the business, greater willingness to sacrifice on behalf of the business, earlier planning for the growth of the business, utilization of a team-based form of organization design, concern for reputation and quality, adequate capitalization, strong leadership, and utilization of a wider range of financing sources for the expansion of the venture. The purpose in uncovering these differences is to enable entrepreneurs and researchers to identify more clearly the attributes of rapid-growth ventures and their founders and to move closer to a field-based model of the entrepreneurial growth process which will help delineate the alternative paths to venture growth and organizational change.
Entrepreneurial competences in contemporary management
Ekonomski horizonti, 2013
Managerial as well as entrepreneurial skills are necessary for leaders in turbulent global environment. The research goal of this paper is to show how generally accepted entrepreneurial competences fit into modern management activities. Author is seting hipothesis that fundamentals of managerial competences can be recognized in entrepreneurial behavior, so fostering entrepreneurship can improve the management process. The main research question is whether one can talk about entrepreneurship in large and medium-sized businesses, in other words, can one identify the entrepreneurial approach in contemporary management, and can it be expected that today's managers possess entrepreneurial skills? It is important to recognize that fostering entrepreneurship can improve the process of management and enable leaders to encourage employees to behave in more creative and innovative manner, in order to achieve and sustain competitive position on the market place in a long run.
2019
In most research entrepreneurs are described as general subjects. Of course, these approaches reveal that you do not match and can not explain much of the situation. The group of people called the entrepreneur behaves differently from the definitions. In my dissertation (Gergely Németh: Cognitive Approach to Some Entrepreneurial Behavior Patterns, 2017), a chapter is about differentiating the entrepreneur's roles. In this categorization, I have included the Gerber division, already classical citation, and I have also come up with new approaches based on the reviewed literature. I considered the process of entrepreneurship a process that was crossed by the Situational Cognitive Approach (Smith and Semin 2004, 2007) so that the effect of the context can also be reflected in this sphere of interpretation. Below I describe the roles of the entrepreneur, the owner, the manager, the inventor, and the producer
2019
In most research entrepreneurs are described as general subjects. Of course, these approaches reveal that you do not match and can not explain much of the situation. The group of people called the entrepreneur behaves differently from the definitions. In my dissertation (Gergely Németh: Cognitive Approach to Some Entrepreneurial Behavior Patterns, 2017), a chapter is about differentiating the entrepreneur's roles. In this categorization, I have included the Gerber division, already classical citation, and I have also come up with new approaches based on the reviewed literature. I considered the process of entrepreneurship a process that was crossed by the Situational Cognitive Approach (Smith and Semin 2004, 2007) so that the effect of the context can also be reflected in this sphere of interpretation. Below I describe the roles of the entrepreneur, the owner, the manager, the inventor, and the producer