The paper explores the process of early growth of entrepreneurial science-based firms. Drawing on case studies of British and Dutch biopharmaceutical R&D firms, we conceptualize the speed of early growth of science-based firms as the time it takes for the assembly (or combined development) of three types of critical resources - a functionally-diverse management team, early fundraising and development of technology. The development of these resources is an unfolding and interrelated process, the causal direction of which is highly ambiguous. We show the variety of paths used by science-based firms to access and develop these critical resources. The picture that emerges is that the various combinations of what we call "assisted" and "unassisted" paths combine to influence the speed of firm growth. We show how a wide range of manifestations of technology development act as signaling devices to attract funding and management, affecting the speed of firm development. We also show how the variety of paths and the speed of development are influenced by the national institutional setting.
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We provide greater theoretical precision to the concept of productive opportunities of Penrose. We show firm emergence as a recursive cycle of changing productive opportunities. We show how those opportunitiesresult from the technological base of the firm and are associated with the particular characteristics of the technology.We also show how productive opportunities require the assembly of different internal and externalresources, and therefore partners. We address explicitly how the firm and its potential partners perceive uncertainty and single out the different mechanisms used by the firm to address uncertainty—envisioning, pooling, and staging—to secure resources from external partners and exploit the identified productive opportunities in a timely manner.
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Drawing on a multiple case study of acquisitions of UK biopharmaceutical firms, we develop an analytical framework that elucidates how key determinants of the knowledge base of science-based firms and their combinations through M&As interact and affect post-acquisition investment in the target's R&D projects. We show that two factors - the complementarity/similarity of the technology, and the complementarity/similarity of the discovery and development capabilities of the target and acquiring firm - interact to produce different outcomes in terms of investment in the acquired firm's R&D assets and for the local science and technology system.
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It is well-documented that international enterprises are more productive. Only few studies have explored the effect of internationalization on productivity and innovation at the firm-level. Using propensity score matching we analyze the causal effects of internationalization on innovation in 10 transition economies. We distinguish between three types of internationalization: exporting, FDI, and international outsourcing. We find that internationalization causes higher levels of innovation. More specifically, we show that (i) exporting results in more R&D, higher sales from product innovation, and an increase in the number of international patents (ii) outward FDI increases R&D and international patents (iii) international outsourcing leads to higher sales from product innovation. The paper provides empirical support to the theoretical literature on heterogeneous firms in international trade that argues that middle income countries gain from trade liberalization through increases in firm productivity and innovative capabilities.
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Financial constraints and risk taking are two well-established determinants of firm performance, however, no research analyzes how these variables are connected in the context of a high risk environment. Using data from microfinance clients in Tanzania, we derive a novel financial constraints measure and incorporate a psychometric risk taking scale. Results confirm the importance of access to finance and risk attitudes for business development. Also, we provide preliminary evidence for an interaction between financial constraints and risk taking. Financial constraints “throw sand in the wheels” and protect risk taking entrepreneurs from the negative impact of risk taking on microenterprise performance.
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This study focuses on SME networks of design and high-tech companies in Southeast Netherland. By highlighting the personal networks of members across design and high-tech industries, the study attempts to identify the main brokers in this dynamic environment. In addition, we investigate whether specific characteristics are associated with these brokers. The main contribution of the paper lies in the fact that, in contrast to most other work, it is quantitative and that it focuses on brokers identified in an actual network (based on both suppliers and users of the knowledge infrastructure). Studying the phenomenon of brokerage provides us with clear insights into the concept of brokerage regarding SME networks in different fields. In particular we highlight how third parties contribute to the transfer and development of knowledge. Empirical results show, among others that the most influential brokers are found in the nonprofit and science sector and have a long track record in their branch.
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From the article: This paper describes the external IT security analysis of an international corporate organization, containing a technical and a social perspective, resulting in a proposed repeatable approach and lessons learned for applying this approach. Part of the security analysis was the utilization of a social engineering experiment, as this could be used to discover employee related risks. This approach was based on multiple signals that indicated a low IT security awareness level among employees as well as the results of a preliminary technical analysis. To carry out the social engineering experiment, two techniques were used. The first technique was to send phishing emails to both the system administrators and other employees of the company. The second technique comprised the infiltration of the office itself to test the physical security, after which two probes were left behind. The social engineering experiment proved that general IT security awareness among employees was very low. The results allowed the research team to infiltrate the network and have the possibility to disable or hamper crucial processes. Social engineering experiments can play an important role in conducting security analyses, by showing security vulnerabilities and raising awareness within a company. Therefore, further research should focus on the standardization of social engineering experiments to be used in security analyses and further development of the approach itself. This paper provides a detailed description of the used methods and the reasoning behind them as a stepping stone for future research on this subject. van Liempd, D., Sjouw, A., Smakman, M., & Smit, K. (2019). Social Engineering As An Approach For Probing Organizations To Improve It Security: A Case Study At A Large International Firm In The Transport Industry. 119-126. https://doi.org/10.33965/es2019_201904l015
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Ondernemen in een veranderende wereld is geschreven voor beleidsmakers, managers, ondernemers, organisatieadviseurs en studenten. Vanuit diverse ontwikkelingen op het gebied van technologische connectiviteit, open innovatie, maatschappelijk verantwoord ondernemen, outsourcing, de herrijzenis van China, samenwerking tussen organisaties, de veranderende consument, de veranderende marketing en authenticiteit, biedt Ondernemen in een veranderende wereld een nieuw perspectief op een veranderende wereld. In dit hoofdstuk wordt ingegaan op Maatschappelijk Verantwoord Ondernemen (MVO). Vaak in één adem genoemd met duurzaamheid. Geen onderneming lijkt zich meer te kunnen veroorloven er niet aan te doen. Waar komt deze ontwikkeling vandaan? Wat moeten we nu precies onder maatschappelijk of duurzaam ondernemen verstaan? En is MVO verenigbaar met meer gangbare financiële ondernemingsdoelstellingen? Vragen die een antwoord, of minstens een aanzet daartoe verdienen.
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For IT services companies, delivering high quality IT services is of eminent importance. IT service quality drives customer satisfaction, which in its turn drives firm performance. It is this link that is addressed in this paper: How can the performance of customer service delivery teams be improved, when looked upon from the perspective of firm performance? Based on the literature on excellent performing organizations, we apply the concepts that, according to Collins (2001), drove the development of 'good' companies to 'great' companies to a case study of an under performing service delivery team that developed into an excellent performing service delivery team. The lessons from this study were that most of the drivers behind the performance improvement of this team were in fact 'soft' factors that concerned the human side of the team more than the organizational, procedural or structural measures.
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Purpose – purpose of this article is to report about the progress of the development of a method that makes sense of knowledge productivity, in order to be able to give direction to knowledge management initiatives. Methodology/approach – the development and testing of the method is based on the paradigm of the Design Sciences. In order to increase the objectivity of the research findings, and in order to test the transferability of the method, this article suggests a methodology for beta testing. Findings – based on the experiences within this research, the concept of beta testing seems to fit Design Science Research very well. Moreover, applying this concept within this research resulted in valuable findings for further development of the method. Research implications – this is the first article that explicitly applies the concept of beta testing to the process of developing solution concepts. Originality/value – this article contributes to the further operationalization of the relatively new concept of knowledge productivity. From a methodological point of view, this article aims to contribute to the paradigm of the Design Sciences in general, and the concept of beta testing in particular.
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