Sustainable firms and legitimacy: Corporate venture capital as an effective endorsement

Sustainable firms and legitimacy: Corporate venture capital as an effective endorsement

By Deborah de Lange & Dave Valliere

Originally published online: 22 Nov 2019

ABSTRACT

This empirical study investigates the legitimizing effects of the presence of different investor types supporting entrepreneurial ventures. These effects may differ for sustainable ventures that face greater liabilities of newness due to powerful incumbents and negative halo effects of prominent failures. Drawing on institutional theory, this study developed and tested a model of investor legitimization with data on 184 entrepreneurial ventures using negative binomial regression. Findings suggest that the legitimizing effects of investor types for sustainable ventures differ from those of other ventures. In particular, corporate venture capital seems to legitimize sustainable ventures in a manner unlike other venture types.

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Sustainable firms and legitimacy: Corporate venture capital as an effective endorsement

SME open innovation for process development: Understanding process-dedicated external knowledge sourcing

By Jose-Luis Hervas-Oliver, Francisca Sempere-Ripoll, Carles Boronat-Moll & Sofia Estelles-Miguel

Originally published online: 17 Dec 2019

ABSTRACT

Small and medium enterprise (SME) open innovation has received attention only for new product development, overlooking the fact that process innovation is a strategy commonly pursued by SMEs which requires organizing search strategies or external knowledge sourcing for that purpose. Focusing on 3,348 process-oriented innovative SMEs, defined as those that usually and primarily only introduce process rather than product innovation, this study empirically identifies key external sources of SME innovation for process technologies, linking open innovation to SME performance, and highlighting a very important distinction to literature focused on product development. The results contribute to the literature on SME open innovation.

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Message from ICSB President – Vote for NEW ICSB BYLAWS

Message from ICSB President – Vote for NEW ICSB BYLAWS

Message from President of ICSB 2019-2020 – Vote for NEW ICSB BYLAWS

Monday December 17, 2019

A New Beginning: ICSB 2.0

Dear ICSB Family,

On December 11th, 2019, ICSB held the second board meeting in Macao under my Presidency. The objective of this meeting was to closely follow up on work plans and review the work appointed to the committees that have been executing. The ICSB Board has approved a new set of bylaws for ICSB, which reflects a new business model covering our four pillars of membership; academia, researchers, policymakers, as well as small business owners and entrepreneurs. After this historic board meeting, I am extremely delighted to report to you the following:

  1. The new bylaws are built on a framework of the need for a new and sustainable business model. This is due to the success we have achieved in 2017 with our work in partnership with the United Nations-led by Past President Dr. Ki-Chan Kim and our dynamic Executive Director Dr. Ayman El Tarabishy and many countries and partners in the declaration of the UN MSME Day celebrated on June 27th of every year.
  2. This new business model will allow for sustainable growth for ICSB in terms of footprint and financial growth through a newly developed product called ICSB Knowledge Hubs.
  3. Since 2015, it has been clear to the successive boards that the affiliate model required to be readdressed, modified, improved, or abolished. Upon the work from the 2020 and 2030 visioning committees, I charged a Bylaws committee led by President-Elect Winslow Sargent to work on new bylaws to match the new business model which addressed these concerns and established a new framework for partnerships with local groups rather than the chapter/ affiliate model which looks at local or regional groups as “partners of ICSB” rather than “subordinates” of ICSB. This was a clear recommendation also received from Ms. Vicki Stylianou, ICSB SVP Development.
  4. ICSB’s Board received a letter of dis-affiliation from ECSB, which ICSB board has approved effective December 11th, 2019. We hope we can re-engage with ECSB in the future as a Partner and wish them well for the future.
  5. The new bylaws and business model put the small business owner and entrepreneur at the heart of what we do: whether it is education, research, or policy advocacy- without the small business owners, there would be no supporting ecosystem.
  6. The new business model gives special attention to certain groups: women and youth have a major role to play in the future of ICSB.

A Final Personal Note from an ICSB President and a Volunteer to this Organization:

I am writing to you at a time of change for our organization.  Any change can cause tension, uncertainty, and sometimes unnecessary noise. This tension has been rooted in our recent history and I assure you that it goes years beyond any current bylaws or business model debate.

I have come here to seek a new beginning for ICSB; one based upon mutual interest and mutual respect and shared common principles – principles of justice and progress; tolerance and dignity of all human beings.

I will quote from President Barack H. Obama the following:

“I do so recognizing that change cannot happen overnight. No single person can eradicate years of mistrust, nor can I answer in the time that I have all the complex questions that brought us to this point. But I am convinced that to move forward, we must say openly the things we hold in our hearts, and that too often are said only behind closed doors. There must be a sustained effort to listen to each other; to learn from each other; to respect one another, and to seek common ground. As the Holy Quran tells us, “Be conscious of God and always speak the truth.” That is what I will try to do – to speak the truth as best I can, humbled by the task before us, and firm in my belief that the interests we share as human beings are far more powerful than the forces that drive us apart.

We are shaped by every culture, drawn from every end of the Earth, and dedicated to a simple concept: E Pluribus Unum: “Out of many, one.” – Barack H. Obama- Cairo, June 2009

Dear Members,

I am counting on your support of the proposed new bylaws.

STEP 1: REVIEW NEW ICSB BYLAWS (click here)

STEP 2: VOTE FOR ICSB NEW BYLAWS (click here)

I look forward to a great future for our global family of ICSB, where we will showcase our convening power of bringing together Asia, MENA, North America, South America, Europe, Africa, Oceania. We will also always celebrate and recognize the history this organization has since it was established in 1955.

We are all working for one common goal, supporting MSMEs worldwide while leaving no one behind.

Sincerely,

Ahmed Mohammed Osman

The Other Half: State, Challenges, and Action Items for the Realization of Women Entrepreneurial Opportunities Worldwide

The Other Half: State, Challenges, and Action Items for the Realization of Women Entrepreneurial Opportunities Worldwide

State, Challenges, and Action Items for the Realization of Women Entrepreneurial Opportunities Worldwide

Monday, December, 16, 2019

State, Challenges, and Action Items for the Realization of Women Entrepreneurial Opportunities Worldwide

Monday, December, 16, 2019

The Other Half

According to the United Nations, the world population reached 7.6 billion in 2017. About half, or 49.55 percent, were female (United Nations, Department of Social and Economic Affairs, 2017). The fact that the gender demographics on the planet are balanced, compounded by the recent announcement that most countries have achieved gender parity in primary education (UNICEF, 2018) should be cause for optimism. However, these numbers are quickly obscured by the realization that disparities still remain at the other education grades, which disproportionately favor males.

President James Madison once stated that “education is the foundation of civil liberties.” Therefore, this gender unbalanced state of affairs might also escalate to the structure of several other institutions, including public and private sector activities, and the distribution of entrepreneurial opportunities.

In this brief report, we review selected gender indicators across countries, and then compare them with entrepreneurial indicators in an attempt to understand the distribution of business opportunities across economies. After reviewing the general numbers, we focus on key challenges and practical recommendations for action. (Read more…)

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Small Business: Big Vision

Small Business: Big Vision

Small Business: Big Vision

Monday, December 9, 2019

Small Business: Big Vision

Monday, December 9, 2019

In early September, the Institute of Public Accountants and Deakin University held a major conference focusing on Australia’s flagging productivity.

Aside from addressing the current dire economic predicament, the Small Business: Big Vision event, run by the IPA Deakin SME Research Centre on 4 and 5 September 2019, pushed for a more concerted effort to boost SME productivity. The event brought together Australian and international experts to explore the creation of a sustainable ecosystem for SMEs, based on the five integral pillars financial capital, innovation, regulation, trade and internationalisation, and human capital.

While some say that small business is the engine room of the economy, we believe that is an understatement; we believe that small business is the whole factory, plant and equipment. Unless we stoke the fire beneath it, our future generations will suffer the consequences, the IPA CEO, Andrew Conway, said in announcing the event.

The full auditorium of policy makers, business people and accountants also heard from Eugene Cornelius Jr., senior adviser to the US Office of International Trade at the Small Business Administration; Dr.Winslow Sargeant, former chief counsel for advocacy appointed by and reporting direct to President Barack Obama; and Charles Matthews, Fulbright Scholar from the University of Cincinnati. (Read more…).

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