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Implementation of Agile Method in Russian University

Author(s): Natalia Molodchik,Natalia Nagibina / Language(s): English Publication Year: 0

Purpose:The purpose of the article is to elaborate agile based model „University-Student-Enterprise“ andexplore its applicability in the case of Russian university.Impactful global social, economic and political challenges call for corrections in the current labor market needs and raise the importance of university education improvement. In conditions of state educational institutions optimization, transformation isthe only viable option for most of the Russian universities. Design/methodology/approach:The theoretical design is based on literature review, concept analysis and practical experience of agile technologyin higher education, when the authors develop a new agile based model “University-Student-Enterprise”. The implementation design is based on the action research with regard to the Russian university bachelor programs. Findings:The study finds out that agile-based work can qualitatively change the interaction between participants and impact the organizational and motivational configuration of the educational process and product of the educational system. The designed agilemodel helps define the core principles and tools of the educational process management. Research/practicalimplications:Agile based model can be applied in other universities. Practical results of its implementation prove its effectiveness through the following metrics:quality improvement, acceleration of processes, cost reduction.The key difference between the Agile model and the conventional university education model concerns the format and nature of interaction between the education process participants (University-Student-Enterprise). Originality/value:The paper makes a valuable contribution in the field of research and implementation of management innovations in the educational environment. The suggested model contains description of specific organizational and motivational devices that ensure agile, flexible, transformation-inducing configuration of the university educational system.

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Parking as an Importantservice of Innovative Hotels: a Case of Croatia

Author(s): Edna Mrnjavac,Nadia Pavia,Robert Maršanić / Language(s): English Publication Year: 0

Purpose:Innovative hotels are a recent phenomenon. The innovation of their product is based on a personalized service with cultural and autochthonous content and experiences. The aim of the research was to obtain better understanding of the role of parking in the product of innovative hotels: whether parking is a component of a hotel product, whether parking problems exist, and what the importance is compared with other elements of a hotel product.The purpose of the study is to draw attention to the state of parking in innovative hotels and to shape guidelinesfor an optimal model of parking services. Design/methodology/approach:Primary and secondary data were used. Secondary data served to define the characteristics and functions of innovative hotels and the role of parking services. Primary data were collected directly from the managers, through their descriptive responses to a questionnaire. The responses were systemised according to similarities and differences and according to the special features of innovative hotels. The study involved 10 innovative hotels in the Republic of Croatia. Insight gained from the study should help managers to enhance the competitiveness and improve inovation of the hotel product. Findings: Most of the innovative hotels have parking-related problems, because they either lack asufficient number of parking spaces or have no parking space at all. Hotels’ managements and guests consider parking services a vital element of the hotel product. The resolution of parking-related problems depends upon location. Hotels located in town centres have no possibilities for building their own car parks. The only solution is to rent a number of parking spaces through the local government or from parking companies. If a hotel cannot provide parking services, it is important for the guests to be fully informed of this. Research/practical implications:The study has confirmed that the parking service is an essential element of the innovative hotel product. Hotels should have their own car parks and, if needed, rent additional parking spaces in thenearest public car parks or parking garages. The research has indicated that cooperation with local government is crucial because of its decisive role in shaping parking polices and mobility in the destination. In this way it indirectly effects on the competitive ability of the hotel product. Future research should focus on models of cooperation with local government in ensuring parking spaces and mobility within destination. Originality/value:Parking as a part of the product of innovative hotels has not been researched jet. The value consists in findings that parking is an essential element of the competitiveness of innovative-hotel products and that there is a correlation between guest satisfaction with their stay at the hotel and the availability of parking. A special contribution is the perception of importance of parking among other elements of product of innovative hotels as well as the role of local government in resolving parking problems. The results are applicable to other european destinations that are working on innovative hotels’ product.

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Microfinance and Access to Finance of SMEs

Author(s): Györgyi Nyikos,Gábor Soós / Language(s): English Publication Year: 0

Purpose:The main objective of this study is to provide an overview of the situation of access to finance of SMEs in Europe and explore the regulatory and financial background of microfinance opportunities. Besides this general approach, the paper also aims to investigate the practical approach of EU Member States tothe issue of microfinance. As a result,it is expected that overall the efficiency of programmes financed from public funds will be increased through the adoption of best practices in European countries. Design/methodology/approach:Research is being carried out using information provided by ten INTERREG project partners from seven different EU Member States and Norway, including managing authorities, microfinance institutions and enterprise development organisations. Stakeholders were interviewed throughsurveys and stakeholder group meetings (twelve meetings per partner), while their experiences are shared in study trips (up to six per partner) and local workshops (up to five per partner). Publicly relevant data and the academic literature related to microfinance has been also reviewed. In-depth analysis in six EU Member States (Hungary, Italy, Germany, Spain, Croatia, Poland), representing regions at various levels of development, has also been carried out. Findings:It has been found that the lack of commercial sources of finance is still a problem for a number of European SMEs. The main problem is that many firms are deemed non-bankable by commercial banks. Nevertheless,governments have intervened to support these firms and promote microfinance initiatives. These are provided typically from national or EU sources, such as ESIF Funds, while various regional initiatives also exist in the countries investigated. Research/practical implications:The research addresses some important regulatory and practical issues with microfinance that can prove invaluable for researchers, policy-makers or even financial institutions. The comparative analysis of Member State solutions can also provide an inspiration for other countries considering the introduction of microfinance initiatives. It is expected that following the publication of the results of the research, policy instruments related to microfinance will be improved and there will also be new projects aiming at tackling at enterprise development or improving the access to local microfinance programs.Originality/value: The paper presents original research in the field of practical issues and solutions in microfinance, providing an invaluable insight into the approach of six different EU Member States.

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Firms Quest for Innovation: the Case of Slovak and Hungarian Manufacturing Firms

Author(s): Samuel Amponsah Odei / Language(s): English Publication Year: 0

Purpose:This paper seeks to examine the various sources of knowledge and innovation that Slovakian and Hungarian manufacturing firms rely on to improve their innovative performance. Design/methodology/approach:The multiple regression technique was employed using data from the community innovation survey conducted between 2010 and 2012. A sample of 3,576 manufacturing firms was used in the analysis. Their innovation performance was measured using their turnover to the market as the dependent variable and the sources of innovation as the independent variables. Findings:The results of our empirical analysis demonstrated divergent results for both countries. Slovak firms derived their innovation from in-house activities and other sources such as from scientific journals and conferences whilst Hungarian firms relied on market sources such as cooperation with clients or customers from the private sector for their innovation as well as from scientific journals. However,there was a convergence in the results, manufacturing firms in both countries didn’t collaborate with research institutions such as universities and other public and private research organisation for their innovation. Research/practical implications:The result of the analysis has demonstrated that Slovak and Hungarian firms didn’t depend on knowledge and innovation hubs for their innovation. This study therefore proposes firms to foster closer collaboration with these institutions since they are the birthplaces of innovation that can increase their competitiveness and innovation performance. Originality/value:This study found out that there was a limited study on the sources of innovation that firms in both countries rely on. This study therefore contributes to the literature on innovation in these countries

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Entrepreneurial Attitude and Personality as Predictors of Leadership Vocational Interests in Men and Women

Author(s): Dominika Ochnik / Language(s): English Publication Year: 0

Purpose:The aim of this study is exploringhow leadership interests are shaped across age and gender and to reveal individual factors (personality and entrepreneurial attitude orientation) of leadership vocational interests. Methodology: The research is based on Contextual Model of Vocational Interests and consists of 3 studies. In Study 1 leadership vocational interests were measured by Vocational Potential Inventory, across age and gender within 9359 participants. Study 2 shows personality dimensions as predictors of leadership vocational interests within 190 participants. Study 3 refers to relations between entrepreneurial attitude orientation and leadership vocational interests among 98 participants. Findings: Two-way Anova (gender x age) in Study 1 showed significant effect for gender, with men scoring higher in leadership vocational interests. The effect of age was significant in men only, the older they were the higher leadership vocational interests they presented. Regression analyses in Study 2 showed high conscientiousness, low neuroticism and high extraversion as predictors explaining leadership vocational interests in 31%. Regression analyses in Study 3 revealed that high entrepreneurial attitude orientation and being a man are predictors explaining leadership vocational interests in 13%. Implications: A series of surveys allowed to positively verify the Contextual Model of Vocational Preferences (Ochnik, 2017), in which leadership preferences are shaped by individual factors: personality and entrepreneurial attitude. The research allows to implicate that in the scope of leadership vocational interests, the social vocational clock -reflecting patterns of social roles related to gender and age as well as cultural factors, is more significant among men. Originality: The Contextual Model of Vocational Interests and the concept of vocational social clock have been introduced. The studies revealed that gender differences in leadership preferences are not stable. After introducing individual factors into the model, the gender dimension is reduced, in particular with regard to personality. Entrepreneurial attitude turned out to be relevant predictor but weaker than Inaddition, it can be concluded that in the future,leadership preferences will be less and less attractive to men, which may be reflected in reduced gender inequality in managerial positions.

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Economic Potential of SMEs in the Regional Context of the Czech Republic

Author(s): Veronika Humlerová,Petra Pártlová / Language(s): English Publication Year: 0

Purpose:The aim of the paper is to discuss the current situation of small and middle-sized enterprises and their viability, possible trends and development in different regions. The paper deals with the financial subsidies of the European Union used by small and middle-sized enterprises and the absorption capacity –whether the enterprises used up the subsidies during the project. Design/methodology/approach: The paper applied the statistical analysis of sample indicators, their comparison regarding different territorial units and a follow-up synthesis. Data was purchased from Ekotoxa. Part of the data was from the 2007-2016 Structural Funds outlook survey report available from the Ministry of Regional Development survey. The adjustment of time series of sample indicators was carried out, using trend functions, such as the trend of progressivity of the economic structure. Cartographic outputs were created by ArcGISprogram. Findings:The cartogram for the Czech Republic revealed that regions with a high index ofprogressivity of economic structures are polarized areas around major cities (see the regions of Praha, Karlovy Vary, Central Bohemia, Moravian-Silesian region). Increasing progressivity, sophistication, knowledge and technological demands of economic activities increase their concentration is in the most advanced metropolitan regions. Examples of such trend include location of large companies, progressive tertiary sector, and company headquarters of high-tech manufacturing industries. These progressive regions were able to make the best use of subsidy policies in the 2007-13 programming period, their position and trend could be strengthened. Research/practical implications:As shown by the results of out research, different regions report great disparities, both regarding the development of SMEs and their ability to use the subsidy schemes of the European Union. The most important leaders, except Prague region are the enterprises in the regions of South Moravia, Central Bohemia, Oloumouc and Ústí nad Labem. The regions of South Bohemia, Plzeň and Pardubice were lagging behind (during the research period of ten years). These results should be used as a guideline for current and subsequent periods, allowing more precise regional policy instruments in the future. Originality/value:The results use data that was processed into higher territorial units and thus they show the overall image and trend of the business sector (SMEs) in different regions. In addition, the progress of SMEs in the whole Czech Republic was analysed and, finally, the absorption capacity of individual legal forms was defined. The procedure shows the suitability and applicability of the individual grant titles. Furthermore,it shows the need for the dynamics and non-consistency of the sample indicators in different regions.

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The Busines Concept Map Compared to other Canvas Models

Author(s): Attila Petheő,János Vecsenyi / Language(s): English Publication Year: 0

Purpose:During entrepreneurship studies educators challenge students to develop their own business idea. Without previous experiences students are facing difficulties in defining business models/concepts. To help students/entrepreneurs, new tools have been developed. In this article three different tools/methods will be compared to satisfy today’s entrepreneurial need. Design/methodology/approach:In the last 7 years more than 2000 students got the assignment to build business model using one of the tools. We wereevaluating the quality and the content of the student home works andtested our new concept. Findings: In this methodology, instead of using the Business Model Canvas, another model, the Business Concept with six major building blocks was used. The model was further developed as a standalone tool called Business Concept Map published in a ‘How to cook type guidebook’ (Vecsenyi, Petheő2017). Research/practical implications:Vecsenyi (2011) developed a website (www.startmybusiness123.com) to support students and other future entrepreneurs to develop their business concept, analyze risks and make an educated decision on stopping, postponing or starting the implementation of their business idea. Originality/value:In this paper we would like to define, compare and differentiate the three tools. We would like to share our experience of using the tools by giving practical examples.

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Home-Based Business in Visegrad Countries: GEM Perspective

Author(s): Anna Pilková,Marian Holienka / Language(s): English Publication Year: 0

Purpose:Home-based businesses (HBB) represent considerable proportion within entrepreneurial activity in V4 countries, where more than half of early-stage entrepreneurs and fourin ten established businesses trade or operate primarily from home. However, empirical inquiry into this phenomenon in V4 region is scarce. Therefore, the aim of our study is to analyse main characteristics of home-based entrepreneurs and their businesseswithin the Global Entrepreneurship Monitor (GEM) perspective, to discover similarities and differences between home-based and non-home-based entrepreneurs and their endeavours. Design/methodology/approach: Our empirical study is based on GEM 2014 individual-level data obtained through adult population surveys in Visegrad countries. The main sample comprises of 524 home-based and 547 non-home-based entrepreneurs. These two sub-populations are compared in main attributes of individual entrepreneurs and theirbusinesses. The studied attributes were used to create sub-categories in which the proportion of home-based businesses was analysed and assessed for statistical significance using chi-square tests. Findings:There are several distinctive attributes differentiating home-based and non-home-based entrepreneurs and business activities in Visegrad region, as well as certain similarities. HBB is more popular among female and youth entrepreneurs, and a preferred solution for combined opportunity-necessity business entries. Also, HBBs are using the advantage of on-line trading, and represent a preferred choice for businesses in extractive sectors. On contrary, inclination towards HBB is not based on individual entrepreneurial attributes, and there is no linkage with business aspirations. Research/practical implications:HBBs seem to be an appropriate means to support inclusive entrepreneurship of women and youth. Also, they appear as a proper direction to support business in extractive sectors and on-line sphere. However, there is no justification for creating support to increase business aspirations preferably for HBBs, as non-HBBs would considerably benefit from such increase as well. We encourage further empirical inquiry into this phenomenon in Visegrad region,both on country-or regional level, as well as in terms of more detailed deeper explorations. Originality/value:Our study is, to our knowledge, the first comprehensive overview on home-based entrepreneurs and their business endeavours in Visegrad region. It discovers the main characteristics of this phenomenon and compares it to the rest of entrepreneur population. Thus, it helps to validate characteristics attributed to home-based businesses in the Visegrad region contexts, providing valuable insights to both policy making and academia.

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Factors Affecting on the Wage of Employees in Small and Medium Enterprises in Russian Regions

Author(s): Iuliia Pinkovetskaia / Language(s): English Publication Year: 0

Purpose:The aim of the study was to assess the impact on the wages of employees in small and medium enterprises(SMEs) of factors that characterize the socio-economic situation of the regions where are located these enterprises. We discussed influence such factorsas unemployment rate, gross regional product, incomes of residents of the region and budget expenditures of the region. In order, to ensure a comparison wage in SMEs located in different regions, the calculations are based on relative indicators. In addition, were studied the ratio between wage of SMEs employees and the subsistence minimum legally established in the regions. Design/methodology/approach: The study used official statistical data Federal service of state statistics Russia in 2015. We used information on the actual average monthly wage of SMEs employees and indicators, which characterize social-economic position in each of the 82 Russian regions. So,in total we used 574 empirical observation. The research methods of regression and correlation analysis were used to analyze the aforementioned data. The paper offers two models: multiple nonlinear regression on the spatial data, which describes the impact of factors on wages, and function, characterizing ratio between wage of employees in SMEs and the subsistence minimum, established in the regions. Findings:The paper proves the relationship between the average monthly wage of employees of SMEs and factors such as the share of unemployment persons in the economically active population, average monthly income per one inhabitant, average monthly gross regional product per one inhabitant, and averagemonthly budget expenditure of region per one inhabitant. The paper shows that wage increases with the decrease of the first factor and the growth each of the other three factors. Presented ratio of average wage of employees SMEs and subsistence minimum in regions. Identified regions with insufficient level of wages in SMEs. Research/practical implications:The obtained new information and tools to assess the level of average wages in SMEs can be used in research on entrepreneurship, also for justification of programs for the development of this sector of the economy at the Federal, regional and municipal levels. The study provide regions authorities with information on the directions of wage increases in accordance with the Federal strategy for SMEs development thatinvolves an increase of twice the employees’wages. Prospects for further research are related to more complex assessment analysis of the monthly wage of SMEs employees, engaged in various types of economic activity. Originality/value: New knowledge has been gained about the factors that influence the wages of SMEs in the regions, ratios wage and subsistence minimum and also wage differentiation in SMEs by region. Our study offers a unique view on the SMEs wage system and we contribute to the existing knowledge on economy of entrepreneurship.

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Evaluation of Cluster Policy Efficiency in Slovakia from the View of Industrial Cluster

Author(s): Jana Plchová,Irina Bondareva / Language(s): English Publication Year: 0

Purpose:Clusters in Slovakia face both systemic and specific barriers of their development. The aim of the paper is to examine the effectiveness of cluster policy in Slovakia from the view of a particular industrial cluster (on the example of the Slovak plastic cluster− SPK) and to identify obstacles of its innovation activity growth. Design / methodology / approach:The results of the primary qualitative research were obtained by the method of individual in-depth interviews with the management of the Slovak plastic cluster. Secondary data were obtained by analysing the information of the European Cluster Observatory, the results of the Clustrat project,the information of the Ministry of Economy of the SR (MH SR), the SPK management reports for the years 2012-2016 and other relevant institutions. When processing the publication, we used documentary analysis and other general methods of scientific work. The authors also used the method of individual in-depth interviews, which allowed them to meet the research goal. Findings:Significant disproportionalities between the recommendations of the European Commission and the factual conditions for successful clusters development in Slovakia are identified. Government measures aimed at supporting cluster innovation activity are not sufficient. At the same time, the problems encountered by cluster can become fatal not only for its development but also for its existence. Research / practical implications:The paper critically evaluates the existing tools of cluster policy in Slovakia. On the basis of the above-mentionedfacts are proposed measures, the implementation of which would significantly support the innovative activity of clusters in Slovakia. Originality / value:The study contains feedback from industrial cluster that brings important information to government institutions to make cluster policy in Slovakia more efficient.

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Identifying Hurdles for Innovators: the Case of Russian Rural Areas

Author(s): Sergei Polbitsyn / Language(s): English Publication Year: 0

Purpose:The paper presents the research results that specify current institutional and economic hurdles toruralinnovative entrepreneurshipdevelopment in Russia. To surmount the obstacles to rural business development, mandatory would be to consider the existing legal, economic, political, social standards, requirements and policies. The aim of this paper is to identify the social, economic and legislative factors that decelerateruralentrepreneurship developmentin Russia. Design/methodology/approach:The research design is based on the survey that was conducted among business owners and top managers of entrepreneurial firms located in rural areas in Russia. The survey was designed as a combination of Likert Scale directing from “strongly disagree” -1, to “strongly agree” -5. A simple random sample of 30 respondents was generated each year of the survey. The survey was conducted for 10 years. The collected data was analyzed after employing special software Stata 11. Findings: Results suggest that the lack of qualified personal, the lack of information on potential markets and technologies and the high risk of innovative activities are named as the most significant hurdles to rural innovative entrepreneurs in Russia. Research/practical implications: The reported research relied on self-reports and on a sample from the one region of Russia. Future research should be multiregionaland multinational to test the assumptions of the present study.The paper reveals that local authorities could play more significant role in fastening the territorial economic development supporting innovative entrepreneurs with market and technology information. Originality/value: The present study provides evidence about the hurdles to innovative development of rural entrepreneurship inRussia. Results could be of value to policy makers focusing on the development of small businesses andentrepreneurshipand the promotion of entrepreneurial and innovative capabilities inruralcontexts.

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Green Entrepreneurship in the Food Industry: Eating Consciously Andraising Awareness in Barranquilla, Colombia

Author(s): Christina Campo Santiago / Language(s): English Publication Year: 0

Purpose:Nutritional challenges and food waste are becoming a priority in the food industry around the world. Within the food industry, entrepreneurship opportunities exist due to changes in dietary patterns and a demand for a business model that takes environmental and social causes into consideration. Furthermore, Colombia is ranked at the forefront of entrepreneurial endeavors in South America. This presentation provides an exploration of entrepreneurial innovations in the food industry in Barranquilla, Colombia and examines the drivers of these entrepreneurs and their effect on the environmental and social impact of their business. Design/methodology/approach:Case studies, from a qualitative standpoint, were built for various entrepreneurs in different areas of the food industry and at different stages of the entrepreneurial life cycle in Barranquilla, Colombia. The entrepreneurs were selected by way of a snowball effect. Through semi-structured interviews and visits to their place of business, it is determined how they created a business from a personal and societal need for healthier and more sustainable food choices. Their motives, challenges and views of the future, as wellas their environmental and social awareness and impact are also analyzed. Findings: The food entrepreneurs showed how they focus on social and environmental impact. Their initial motives and drivers define how they incorporated environmental and social aspects into their business. Some of the common constructs that emerged were environmental responsibility, a desire to educate consumers on environmentally-friendly practices and to further engage the community. This new type of food entrepreneur appears to affect society in positive ways, mostly by offering healthier and more sustainable food choices to people that predominantly ate processed/fast foods, and by stimulating a local interdependent economy through previously untapped opportunities. Research/practical implications:This presentation helps to paint a clearer picture of the entrepreneurial ecosystem and the circumstances small and medium sized business owners deal with in a local community of Colombia. It shows similar patterns and themes as to that done in different regions in the world, which proves how certain trends in green entrepreneurship are becoming a worldwide phenomenon. It would be interesting to expand the analysis through a comparison with a local community in a different locale. Originality/value: The realities of green entrepreneurship in South America have seldomly been covered in literature. Green entrepreneurship could be a way to tackle the challenges currently found in the food industry. This research sheds some light on the trends and innovations at the level of small and medium sized business owners in a local community in Colombia. Furthermore, the research aims to contribute to understanding the drivers and motivators of small and medium business sized owners, what inspired them to start their own business.

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Business-IT Alignment with Cash-Flow Based Price-Generating Model for IT Services

Author(s): František Simetinger / Language(s): English Publication Year: 0

Purpose:This paper is focused on the actual perception of strategic alignment of IT and business. The goal of this research is a summarizationof understanding the IT-related assets and identification of actual situation and gaps in the business-IT alignment. The main output of this paper is a proposalof the alternateconceptual method (model) which can change the understanding of business-IT alignment options. Design/methodology/approach:The literature research was conducted with the goal of identification actual situationand issues in the Business-IT alignment area from IT Governance, IT-related assets, and Strategic Management perspectives. Considering identified issues, new research results based on previously presented conceptual ideas and models are introduced. There are described developed metrics which address identified issues. Findings:Regardless of developments in the subject areas, the financial and economic perspectives of strategic IT management stay underdeveloped. This fact contributes to the disproportionof business and IT activities. For better alignment of business and IT is needed to find a moresuitable way how to synchronize goals on short, mid, and long-term basis and how to improve their interconnection. Research/practical implications:The proposed conceptual method is relevant for strategists from business and IT. It provides new perspective how to understand relationships between business and IT and it shows new direction how to design future business models. Originality/value:The proposed conceptual method is unique and provides an alternateviewpoint to business-IT alignment topic. It provides options for harmonization of activities of business and IT.

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Regulation of Environmental Aspects in Special Economic Zones

Author(s): Olga Sinenko,Igor Anatolevich Mayburov / Language(s): English Publication Year: 0

Purpose:The aim of this study is to identify contemporary trends in environmental management in special economic zones. Transformations sustained by special economic zones in terms of the use of fiscal instruments in the past few years could become a real tool for combating environmental issues. Design/methodology/approach: The main source of research is the data of official sites of territories with special economic and ecological status. External secondary data research is based on publications of World Bank, UNIDO, GGGI, PEDL. Our own research is complementary and allows us to compare it with the secondary sources that underlie these considerations. Depending on the level of ecological development, a system of types of special territories is proposed. After summarizing the publications devoted to the practice of functioning of special territories with ecological orientation, the authors singled out the main components of the successful work of the "green" SEZs. Findings:A classification of "green" special economic zones has been created. The authors have analyzed and validated fiscal incentives encouraging the adoption of environmentally friendly practices in special economic zones. The key components of the successful operation of "green" SEZs have been distinguished and classified Research/practicalimplications:The proof of the efficiency of fiscal means of encouraging environmentally friendly practices in special economic zones and of the key components of green performance of special economic zones could beuseful for SEZ planners in Russia, enabling them to take appropriate preventive measures. The results of this study could serve as a starting point for hypotheses in further research aimed, for example, at the development of a universal approach to evaluating the efficiency of fiscal mechanisms of environmental regulation in special economic zones in Russia. Originality/value:The article presents a comprehensive overview of applicable environmental regulation mechanisms in special economic zones. The study validates the key components, including fiscal instruments that pertain to successful eco-friendly green performance of special economic zones.

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Probability of Success of Crowdfunding Projects during Campaigns in the Czech Republic, Slovakia and in the USA

Author(s): Aleš Slúka,Ivana Svobodová / Language(s): English Publication Year: 0

Purpose:The objective of this research was to discover how successful crowdfunding projects are likely to be to have reached the desired amount at the beginning, the middle and towards the end of the campaign, and compare regression results on regional level. Design/methodology/approach:The sample is 116 crowdfunding projects, 50 located in the USA region and 66 in the Czech Republic or Slovakia. Data were collected on a daily basis over a period of 84 days directly from chosen live crowdfunding projects published on Kickstarter, Indiegogo, HitHit and Startovac. The main outcomes of the research are determined by a logistic regression model of tracked crowdfunding markets and categories. The share of project ́s monetary goal was tracked for t0,25, t0,5, t0,75, where t represents time and number represents percentage of project ́s total duration. Findings: The average crowdfunding project established in Czechia or Slovakia has a higher probability of success with lower investment raised, higher log odds of success, odds ratio and average marginal effect at all investigated stagesthanan average US-located project. Research/practical implications:The logistic regression results for every established category and region are presented separately here. Readers can, therefore, determine the success probability of a project by substituting the necessary variables. Forthcoming research analysing more crowdfunding projects in more regions should ensure a more accurate and reliable outcome per category over the longer period. Originality/value: It has been found that the relationship between the crowdfunding projectsuccess and its raised investment/goal ratio in time has never been analysed at either the regional or the categorical level.

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Organizational Innovation as a Driving Force of Corporate Prosperity

Author(s): Miroslav Špaček / Language(s): English Publication Year: 0

Purpose:The purpose of this paper was to examine the effects of organization innovation on company performance characteristic. In addition, the main benefits of service outsourcing as well as key obstacles to smooth adoption of service outsourcing were also identified. The reason for drafting this paper was to elucidate on main benefits and shortcomings of service outsourcing and to propose normative decision model which would facilitate decision-making process. Design/methodology/approach: The research was specifically based on questionnaire survey which was performed among company maintenance managers and shift masters in the Czech and Slovak Republic.Research sample was subject to random selection. Questionnaires were filled in and collected during regular professional trainings. In total 89 companies were subjected to survey. The survey took place within 2016-2017. This survey was complemented by contextual interviews with selected maintenance managers. Findings: The paper proved that service outsourcing maybe economically beneficial in cases if it brings higher shareholders value than service insourcing. This criterion can be expressed by Net Present Value (NPV) which is smoothly measurable by means of cardinal scale. Furthermore, non-financial criteria were added to measure entire utility of decision on outsourcing. Normative decision-making model which was then proposed was validated on the patter of mid-sized pharmaceutical company. Research/practical implications:The main outcome of the paper is a normative model of decision-making on outsourcing. This model combines both financial and non-financial criteria. The model was practically verified on the pattern of mid-sized company. The model also helps managers better understand the value engineering nature of outsourcing and offers clear and understandable normative decision-making model. Originality/value:The paper offers normative decision-making model which is based on several financial and non-financial criteria. This model was also tested in company practice. Literature search confirmed that such a model had not been presented before.

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Determining Critical Issues in Social Entrepreneurship Education

Author(s): Marzena Starnawska / Language(s): English Publication Year: 0

Purpose:The social entrepreneurship education (SEE) research has sofar, been not sufficiently studied in the literature. This is surprising, considering the dynamic interest of academia in social entrepreneurship (SE) phenomenon. The aim of this paper is to identify critical issues in designing and providing social entrepreneurship education. Design/methodology/approach:The paper is a conceptual work. As academic effort on SEE is rare the literature review analyses a limited number of key texts. Here, the author employs critical review of the literature on social entrepreneurship education. Papers in this area, from education, management and entrepreneurship literatures are identified and relevant issues for education discussed. Findings:The work brings several findings and suggestions for SEE. The curriculum needs efforts in merging “social” and “entrepreneurship” elements. Issues of scalability, sustainability for SE need to be carefully delivered and reflect the impact requirements and challenges social enterprises face. The discussion on SEE asks for stakeholder approach in the design and delivery thanks to the process of interaction between university and environment where the university is a member of a local ecosystem. The emergence of interactions, requires social constructionist approach in researching and teaching SE. Therefore,there is a key role, where it does not provide SEE but acts as socially responsible organization inside and within own value chain. Research/practical implications:The findings are related with complexity and contextuality of social entrepreneurship phenomenon. SEE curriculum cannot be designed in the same way as an EE curriculum. This brings implications for the teaching methods and content like textbooks, case studies, best practices. Also, educators and teaching programme design need toinclude interactive discussion with different actors and organizations from local community, to respond to their institutional context. Diverse group of stakeholders should be involved in the construction of SEE agenda. The future research could cover research among educators and programme designers and their own experiences, in particular educational settings or countries. Originality/value: The contribution of this work is that it comprehensively overviews important issues highlighted in the scarce literature in entrepreneurship and management area that need to be considered when designing and providing SEE. The paper addresses the key call for engagement of educational environment stakeholders in providing and designing SEE.

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Tendencies in Online Communication of CSR – A Longitudinal Study

Author(s): Richard Szántó / Language(s): English Publication Year: 0

Purpose:Although quite a few studiesdealt with online communication of CSR principles and practices of companies, longitudinal studies are rare, therefore knowledge on the tendencies in this field is very limited. This paper tries to fulfil this void by analyzing changes in online CSR communication over time on the same sample of companies. Design/methodology/approach:In this study, the 200 largest Hungarian companies’ online CSR communication was analyzed, and the findings were compared to the ones of the research carried out 8 years earlier.40% of the firms disappeared from the 2009 list, consequently the author ended up with a sample of 120 firms that were present on both lists (2009 and 2017). In this research, a content analysis methodology was used: pre-given categories and themes were sought on corporate websites looking for patterns and regularities. Findings:Large Hungarian companies use the web more actively for CSR communication than they did almost a decade earlier. More companies have their dedicated CSR sections on their corporate website than 8 years ago, and they generally talk more about their CSR principles and practices. Some key issues are major topics of CSR communication such as CSR principles, values, philanthropy initiatives, and environmental management systems,while others are in the bottom like green office programs, responsible governance or responsible marketing. Research/practical implications:Based on the findings of this paper, practitioners can develop their online communication, and can identify the weaknesses of their current practices. Future research should reveal what the motivations of the more active firms are, and why companies lagging do not perceive the value of this activity. It is also important to explore other ways of online communication like the use of online media, since for many organizations it can be (or it is already) the next step to develop their CSR communication, and enable a two-way-dialogue with their stakeholders. Originality/value:Longitudinal studies in this field are rare,therefore this research focusing on how online CSR communication has evolved over time is unique. By exploring the changes in CSR disclosure, the determinants of this type of communication can be identified.

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The Multifaceted Entrepreneurial Overconfidence: Variations in its Extent, Form and Effect on Growth Expectations

Author(s): László Szerb,Zsófia Vörös / Language(s): English Publication Year: 0

Purpose: In this article, we seek to answer why many attempts to empirically link entrepreneurial self-efficacy to growth expectations have failed. While doing so, we reconcile the literature on entrepreneurial self-efficacy and overconfidence. By analyzing GEM data, first, we show that early-stage entrepreneurs’ self-efficacy statements are systematically inflated. Our results also indicate that entrepreneurial overconfidence is fading and its form changesas business owners learn and gather experience. In addition, by using Ajzen’s Theory of Planned Behavior as a modeling framework, we illustrate that overconfidence results in exaggerated firm growth expectations. However, the changes in the form of overconfidence and the adjustments of expectations on market conditions as a venture ages alter the relationship between overconfidence and growth expectations across the business life-cycle stages. In this article, we seek to answer why many attempts to empirically link entrepreneurial self-efficacy to growth expectationshave failed. Design/methodology/approach:The pooled 2010-2014 GEM APS (Adult Population Survey) individual datasetof the innovation driven countries was usedto empirically test our hypotheses. Findings:Our results show that the variations in the form of overconfidence (relative or absolute), the subsequent changes in the mode its influence operates (direct or indirect) and the update of other business expectations alter the relationship between self-efficacy and growth expectations as business owners gets more experienced. Research/practical implications: Overconfidence and its effect on growth expectations vary as business owners are learning by doing. Merging nascent and baby businesses in a combined start-up “entrepreneurship” measure is problematic. Originality/value:Our research contributesto the “black box”of interactions between entrepreneurial attitudes, activity and aspirations. We theoretically and empirically corroborated the variations in in the relationship between self-efficacy andexpected firm growth across the business life-cycle stages.

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The Impact of the Big Five Personality Traits on Enterprise Potential and Individual Entrepreneurial Orientation of Students in Serbia

Author(s): Edit Terek,Milan Nikolić,Dragan ĆoĆkalo,Sanja Božić,Jelena Rajković / Language(s): English Publication Year: 0

Purpose:The paper presents the results of the study of the influence of the Big Five personality traits on enterprise potential and individual entrepreneurial orientation of students in Serbia. Design/methodology/approach: The data were obtained by using questionnaires completed by students from Serbia. The students are studying at seven faculties in Serbia (technical and economic professions). 488 valid questionnaires were collected. Findings: From the Big Five dimensions, the strongest positive impact on the dimensions of enterprise potential and individual entrepreneurial orientation have the dimensions E -extroversion and O -openness to experience. The impact of the C -conscientousness dimension is positive butis considerably weaker. The dimension N -neuroticism generally has a negative statistically significant impact on the observed dimensions of entrepreneurship. The impact of the dimension A -agreeableness varies: this dimension positively affects CRE -creativity and PR -proactiveness, and negatively LEA -leadership, while on other dimension it does not have a statistically significant impact. On the other hand, under the strongest influence of Big Five dimensions are the followingdimensions of enterprise potential and individual entrepreneurial orientation: ACH -achievement, CRE -creativity and PR -proactiveness. Research/practical implications:The results of the research can be applied in the education of future entrepreneurs, as well as in the early identification of persons with entrepreneurial predispositions. Originality/value: Determining the impact of the Big Five personality traits on enterprise potential and individual entrepreneurial orientation of students in Serbia.

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