Innovative Entrepreneurship in Tourism Business: An International Comparative Study of Key Drivers
Entrepreneurship is mostly related to the beginning of organization. In growing business organizations, entrepreneurship expands its conceptualization. It reveals itself through new business creation in the active organization, through renewal, change, innovation, creation and development of current organization, through breaking and changing of established rules inside or outside the organization and becomes more flexible, adaptive and competitive, also improving effectiveness of organization activity. Therefore, the topic of entrepreneurship, relates the creation of firms to personal / individual characteristics of the entrepreneurs and their social context. This paper is an empirical study, which aims to address these two gaps in the literature. For this endeavor, we use the latest available data from the Global Entrepreneurship Monitor (GEM) project. This data set is widely regarded as a unique source of information about entrepreneurial activity, as well as the aspirations and attitudes of individuals across a wide number of countries and territories worldwide. This paper tries to contribute to fill this gap, by exploring the key drivers of innovative entrepreneurship in the tourism sector. Our findings are consistent with the existing literature in terms of the individual characteristics of entrepreneurs, but quite surprisingly we find an inverted U-shape relation between human development and innovative entrepreneurship in tourism sector. It has been revealed that tourism entrepreneurs are less likely to have innovative products, compared with entrepreneurs in medium developed countries.
Digital Object Identifier (DOI): doi.org/10.5281/zenodo.1124923Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1185
 ASEAN (2010). ASEAN The Strategic Action Plan for SMEs Development in Asian countries (2010-2015) doi: http://www.asean.org/archive/SME/SPOA-SME.pdf. Retrieved on 12/02/2016.
 Shane, S. (2009). Why encouraging more people to become entrepreneurs is bad public policy. Small Business Economics, 33, pp 141-149.
 Lazonick, W. (2008). Entrepreneurial ventures and the development stage: lessons from the advanced economies. UNU-WIDER discussion paper no. 2008/01. United Nations University, Finland.
 GEM - Global Entrepreneurship Monitor (2011). Adult Population Survey. doi: http://www.gemconsortium.org Retrieved on 09/02/2016.
 GEM - Global Entrepreneurship Monitor (2012). GEM Manual: A report on the design, data and quality control of the Global Entrepreneurship Monitor. Version 2012:9th May. doi: http://www.gemconsortium.org Retrieved on 09/02/2016.
 Kirzner, I. (1985). Perception, Opportunity and Profit Studies in the Theory of Entrepreneurship. United States of America. University of Chicago Press.
 UNDP – United Nations Development Programme (2014). Human Development Index 2011. Retrieved from http://hdr.undp.org Retrieved on 08/02/2016.
 Acs, Z. J., S. Desai, and J. Hessels, (2008). Entrepreneurship, economic development and institutions. Small Business Economics, 31. pp. 263-277.
 Alvarez, S. A., and J. B. Barney (2007). Discovery and creation: alternative theories of entrepreneurial action. Strategic Entrepreneurship Journal, 1, pp. 11-26.
 Barreto, I. (2012). Solving the entrepreneurial puzzle: the role of entrepreneurial interpretation one opportunity formation and related processes. Journal of Management Studies, 49 (2), pp. 186-197.
 Wennekers, S., A. Van Stel, M. Carree, R. Thurik (2010). The relationship between entrepreneurship and economic development: is it U-shaped? EIM Research Reports H200824. SCALES – Initiative, financed by the Netherlands Ministry of Economic Affairs. The Netherlands.
 Greene, W. (2012). Econometric Analysis. Seventh edition. United States of America. Prentice Hall. Jovanovic, B. (1994). Firm formation with heterogeneous management and labor skills. Small Business Economics, 6, pp. 185-191.
 Dixit, A. and R. Rob (1994). Switching costs and sectorial adjustments in general equilibrium with uninsured risk. Journal of Economic Theory, 62 (1), pp. 48-69.
 Porter (1990) The Competitive Advantage of Nations. New York. Free Press.
 Porschke, M. (2013). Who becomes and entrepreneur? Labor market prospects and occupational choice. Journal of Economic Dynamics & Control, 37, pp. 693-710.
 Blanchflower, D. G. (2004). Self-employment: more may not be better. NBER working paper no. 10286.
 Reynolds, P.D., B. Bygrave, and M. Hay (2003). Global Entrepreneurship Monitor Report. Ewing Marion Kauffman Foundation. Kansas City, MO, United States of America.
 Kelley, D. J., C. G. Brush, P. G. Greene, Y. Litovsky (2011). Global Entrepreneurship Monitor Report: 2010 Women’s report. Babson College and Global Entrepreneurship Research Association. United States of America. United Kingdom.
 Bosma, N. S., E. Stam, S. Sander Wennekers (2011). Entrepreneurship versus independent entrepreneurship: a cross-national analysis of individual entrepreneurial behavior. TKI working papers no. 11. Tjalling Koopmans Institute, Utrecht School of Economics. The Netherlands.
 Ramos-Rodriguez, A. R., J. A. Medina-Garrido, and J. Ruiz-Navarro (2012). Determinants of Hotels and Restaurants entrepreneurship: A study using GEM data. International Journal of Hospitality Management, 31, pp.579-587.