Hacklin, Fredrik; Battistini, Boris; von Krogh, Georg (2013)
In the relentless evolution of technology and markets, many industries are in the midst of, or are approaching, major reconfigurations of their fundamental architectures and the way companies capture value.1 The changes are well underway in biopharma, nutrition products, health care and energy, where technologies and distinct knowledge bases are changing and converging. Perhaps the most dramatic example of such convergence is taking place in the booming space of telecommunications, information technology, media and entertainment, which many people now refer to as a single field, the “TIME” industries.2 The TIME industries are characterized not only by the variety of new technological products and services being launched at an ever-increasing pace but also by the surging complexity of their markets and how companies win. As some companies have expanded their scope, others have been forced to rethink and retool their strategies. In many ways, the TIME example offers a useful model for managers in other industries where convergence is less obvious.
Collewaert, Veroniek; Anseel, Frederik; Crommelinck, M.; De Beuckelaere, A.; Vermeire, Jacob (2016)
This study examines how and why entrepreneurial passion for founding changes over time. In particular, we propose that in the founding phase of a venture's lifecycle entrepreneurs' founding identity centrality will remain stable over time. We also propose, however, that in our sample and time period studied, entrepreneurs' intense positive feelings for founding will decrease over time. On the basis of theories of positive illusion, self-regulation and role theory, we further hypothesize that venture idea change, change in role ambiguity and entrepreneurs' feedback-seeking behaviour are factors that help explain the rate of change in entrepreneurs' intense positive feelings for founding. Using a three-wave longitudinal research design, we find that among a sample of 112 entrepreneurs' identity centrality does not change over time, whereas intense positive feelings for founding decrease over time. Moreover, the more entrepreneurs change their venture ideas, the weaker their decrease in intense positive feelings. Further, we show that entrepreneurs who frequently seek feedback suffer less from reduced positive feelings in response to higher increases in role ambiguity as compared to entrepreneurs who seek less feedback.
Neckebrouck, Jeroen; Schulze, William; Zellweyer, Thomas (Academy of Management, 2018)
Family firms employ about 60 percent of the global workforce. While it is widely assumed that they are good employers, data about their conduct is mixed. In this study, we extend stewardship and agency theories to test competing propositions about the impact of family on employment practices using data from 14,961 private Belgian firms over a 19-year period. Higher investments, lower dividend payout, and higher risk tolerance indicate that family firms are better financial stewards of their companies than nonfamily firms. However, family firms are worse organizational stewards than nonfamily firms: They offer lower compensation, invest less in employee training, and exhibit higher voluntary turnover and lower labor productivity. Further, and contrary to earlier research, we find that financial practices in private family firms do not change over time, and that the deleterious influence of family on employment practices rises with both firm age and with heightened family involvement. Together, our findings suggest that a more nuanced understanding of stewardship and agency theory is needed to understand the impact of family on the governance of private firms.
Is corporate social responsibility (CSR) a tool for strategic positioning? While CSR is sometimes used as part of a differentiation strategy, this article analyzes which specific CSR strategies arise in response to competitive pressures. The results suggest that competitive pressures lead firms to increase their positive social actions without necessarily decreasing their social weaknesses. This positive impact varies with specific dimensions of CSR and industry specificities: (1) Competition improves social performance toward core stakeholders to a greater extent than social performance toward peripheral stakeholders. (2) This effect is more pronounced in B2C industries than in other industries. (3) Competition leads firms in “dirty” industries to ignore environmental initiatives.
Meuleman, Miguel; Vanacker, Tom; Manigart, Sophie (2014)
This paper studies the role of entrepreneurs in investment tie formation in science–based entrepreneurial firms. Specifically, we address why investment tie formation is path dependent for some firms but more amenable to intentional management for others. Using longitudinal case studies, our evidence suggests that early investment tie formation is path dependent because scientific entrepreneurs typically approach only one or a few prospective investors from within their institutional context. Differences in experience between early investors affect the professionalization of entrepreneurial teams (or lack thereof), which influences the extent to which subsequent investment tie formation becomes more amenable to intentional management or remains path dependent.
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