Search results for: Croatian early stage entrepreneurs

Authors: Suraini Mohd Rhouse, Noor Lela Ahmad, Nek Kamal Yeop Yunus, Rosfizah Md Taib

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This article aims to explore the importance of trust to women entrepreneurs. In particular, the research uses a social constructionist lens to examine ways in which women entrepreneurs construct trust in relation to their various stakeholders. A semi-structured interview was used to gather the data. The findings suggest women highlight the importance of trust in order to establish customer satisfaction that can further develop customer loyalty. In addition, aspect of trust with the employees is seen as vital for building organizational commitment to the business organization. Women also see the trust dimension in terms of their relationships with financial providers in order to gain approval for financial resources. This article contributes to the literature on the value of trust to women’s business environments.

Keywords: qualitative, social constructionist, trust, women entrepreneurship

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Authors: Abdellatif Amouri, Sami Boudabbous

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The current study provides insights on the importance of entrepreneurial coaching as a source of developing entrepreneurial intentions among entrepreneurs and a determinant factor of business creation process and growth. Coaching, which implies exchange of adequate information and a mutual understanding between entrepreneurs and their partners, requires a better mutual knowledge of the representations and the perceptions of ideas which are widely present in their dealings and transactions. Therefore, to analyze entrepreneurs’ perceptions of business creation, we addressed a survey questionnaire to a group of Tunisian entrepreneurs and experts in business creation to indicate their level of approval concerning the prominence of coaching. The factor analysis indicates that more than 60% of the respondents believe that each statement reflects an aspect of coaching, with no bias to its position in the entrepreneurial process. Therefore, the image drawn from our respondents’ perceptions is that an entrepreneur is rather "constructed" and "shaped" by multiple apprenticeships both before and during the entrepreneurial act, through an accompaniment process and within interactions with trainers, consultants or professionals in starting a business. Similarly, the results indicate that the poor support structures and lack of accompaniment procedures stand as an obstacle impeding the development of entrepreneurial intention among business creators.

Keywords: Entrepreneurial Behavior, Entrepreneurial Coaching, Entrepreneurial Intention, Perceptions, Venture Creation

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Authors: Neerja Ahlawat

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In Indian society, women have always been an active part of the production process. Be it agriculture, dairy, or other home-based industries, Indian women have been competent and enterprising engaged in multiple economic activities. In recent times, women across the country have started establishing business enterprise and managing and working very hard. Despite their skills and capabilities, however, women are faced with varied problems and challenges. Women entrepreneurs in Haryana face a double challenge – a gender bias against women denies them the education and the opportunities available to their male counterparts and the lack of such learning and skills development inhibits any entrepreneurial ambitions. In many parts of the state, women venturing out of the household domain face much opposition and criticism. The present paper highlights the various problems and challenges faced by the women entrepreneurs while running the enterprises in the present competitive world in Haryana. An attempt has been made to investigate women entrepreneurs about the specific issues such as working capital, distribution channel, sales promotion, electricity, human resources and competition with other industries. The present empirical study was carried out in Rohtak city of Haryana using Interview schedule and Case study method. The study revealed the nature of problems women entrepreneurs face while dealing with issues of labour, market, and bureaucracy. The study categorically pointed out the difficulties women are confronted with while keeping a balance between domestic responsibilities and workplace challenges. The study concluded that women entrepreneurs are redefining their identities and priorities in the male dominant society.

Keywords: entrepreneur, gender bias, capital, human resource

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Authors: Dina Mohamed Ayman, Rafieu Akin

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In an attempt to increase the female total entrepreneurial activities (TEA) within Egypt and Nigeria, this paper aims to investigate the challenges facing female entrepreneurs operating in Egypt, in relative to Nigeria. In this regard, both researchers undertook a qualitative approach due to the scarcity of the literature reviewed on the topic; in those particular countries, and as an in-depth comparative mode. Therefore, ten Egyptian entrepreneurs in relative to ten Nigerian entrepreneurs were in-depth investigated. The research findings prove that female entrepreneurs face complex problems for being both gender and country-specific. Regarding the gender-specific obstacles, the work/life imbalance due to the scarcity of child-care nurseries and the prevalence of the gender-role division while performing the house chores rather than the concept of co-operation, acted as a main source of cultural challenge because women are considered mostly as 'housewives'. However, interestingly, this specific gender-discrimination challenge is proven to have no grounded effect in terms of the business-establishment and daily dealings neither in Egypt nor Nigeria, as one of the sample exclaimed 'as long as you pay, then no gender difference is set on the table'. Other country-specific challenges facing female entrepreneurs, lied in, the aggregate weak entrepreneurial framework governing both countries, also, women faced the difficulty of access to financial institutions with collateral requirements that are usually "hardly to be met", besides, the absence of the "micro-credit-Grameen-banks" concept. As well, the scarcity of incubators and business training centers providing network, consultancy and well-trained workforce to female entrepreneurs constitute a major hurdle for women entrepreneurs operating in both countries. Finally, this paper will conclude the research by offering a set of public-policy recommendations to pave the way for females to choose self-employment as a career path.

Keywords: entrepreneurship, female entrepreneurship, obstacles, framework conditions, culture, micro-credit

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Authors: Bashir Ahmad, Daneji, Hamidu Aminu, Ahmad, Aliyu Mukhtar, Daneji, Haruna Mohammed

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It has been established and universally agreed that vibrant Micro, Small and Medium Enterprises (MSMEs) play significant roles in economic growth and development. In Nigeria, MSMEs are not playing the expected roles. Notable among the plethora of reasons is lack of prompt and sufficient finance. Government and other stakeholders attempted in several ways at different times to provide the required finance to MSMEs but the results were not encouraging and consequently, many failed. In recent past, Islamic financing emerged world over as promising alternative source of financing. However, its awareness among MSMEs entrepreneurs in north east region of Nigeria stands to be questioned. This study explored the 'Demographic Factors Influence on Awareness of Islamic Financing among MSMEs entrepreneurs in the North East Region of Nigeria'. The primary data used in this study were collected through questionnaire. In analyzing the collected data, the study used frequency, percentages, Pearson correlation, ANOVA and test of homogeneity test (Levene’s test) parameters generated from SPSS (version 15). The findings of the study revealed that entrepreneurs’ age, state of origin, religion and educational level influence their MSMEs awareness of Islamic Financing in the north east region of Nigeria. The study recommended that Islamic Financing institutions, government and relevant agencies should do more to enhance the awareness of Islamic financing among MSMEs entrepreneurs in the north east region of Nigeria.

Keywords: awareness, demographic factors, entrepreneurs, Islamic financing

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Authors: Saheed A. Gbadegeshin

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Lean Commercialization (LC) is a transformation of new technologies and knowledge to products and services through application of lean/agile principle. This principle focuses on how resources can be minimized on development, manufacturing, and marketing new products/services, which can be accepted by customers. To understand how the LC has been employed by the technology-based companies, a case study approach was employed by interviewing the founders, observing their high technologies, and interviewing the commercialization experts. Two serial entrepreneurs were interviewed in 2012, and their commercialized technologies were monitored from 2012 till 2016. Some results were collected, but to validate the commercialization strategies of these entrepreneurs, four commercialization experts were interviewed in 2017. Initial results, observation notes, and experts’ opinions were analyzed qualitatively. The final findings showed that the entrepreneurs applied the LC unknowingly, and the experts were aware of the LC. Similarly, the entrepreneurs used the LC due to the financial constraints, and their need for success. Additionally, their commercialization practices revealed that LC appeared to be one of their commercialization strategies. Thus, their practices were analyzed, and a framework was developed. Furthermore, the experts noted that LC is a new dawn, which technologists and scientists need to consider for their high technology commercialization. This article contributes to the theory and practice of commercialization. Theoretically, the framework adds value to the commercialization discussion. And, practically the framework can be used by the technology entrepreneurs (technologists and scientists), technology-based enterprises, and technology entrepreneurship educators as a guide in their commercialization adventures.

Keywords: lean commercialization, high technologies, lean start-up, technology-based companies

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Authors: Sabina Klimek

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In general, entrepreneurs are viewed as agents of change whose goal is to ensure that resources are efficiently utilized. They are very important in the global economy; they create wealth and provide jobs. At the same time, many policymakers say that women entrepreneurs are a ‘special group’ worthy of their own research and policies. The status of Polish women has been changing as well, even though, to a large extent, it is still defined by the double role that women are expected to fill according to the dominant stereotypical model of family life. However, in the past decade, Polish women’s economic activities have experienced rapid growth and today are at a high level. In the article, the author presents the results of a survey conducted among women entrepreneurs in Poland concerning the functioning of their enterprises, motivation in setting up a company, and barriers that hinder them in business. The questionnaire (300 questionnaires were provided) and case studies carried out by the author have proven that female entrepreneurs in Poland are characterized by commonalities. Mostly they run small or micro-enterprises, operate in larger cities, are well-educated, and run service companies. Their main motivation to run their own business is mostly indicated by their need for independence. However, one of their biggest barriers and hesitations is the apprehension of non-payment. Entrepreneurs want to develop their companies, go to foreign markets and implement new solutions. They are not afraid of the future; they are only trying to create it. Detailed hypothesis, which reads as follows. The author additionally conducted a macroeconomic analysis calculating what part of GDP in Poland is produced by female entrepreneurs. The results of the study presented in this article prove that female entrepreneurship in Poland has a stable impact on the economy of the country, and women entrepreneurs produce over 13% of the national GDP. After years of growth in the number of female entrepreneurs in Poland, there has been a period of stabilization. However, there has also been a reduction in the number of self-employed people as well as the number of women in total employment. In the article, the author analyses the reasons for decreasing number of self-employed women and the total employment of women in Poland and provides suggestions for steps and incentives that should be made in order to encourage female entrepreneurship to grow in the country.

Keywords: women entrepreneurship, women in business, women entrepreneurship in Poland, Poland, GDP of Poland

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Authors: Barbara Peric

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The study of acquiring a third and additional language has garnered significant focus within second language acquisition (SLA) research. Initially, it was commonly viewed as merely an extension of second language acquisition (SLA). However, in the last two decades, numerous researchers have emphasized the need to recognize the unique characteristics of third language acquisition (TLA). This recognition is crucial for understanding the intricate cognitive processes that arise from the interaction of more than two linguistic systems in the learner's mind. This study investigates cross-linguistic influences in the acquisition of Spanish as a fourth language by students who have Croatian as a first language (L1). English as a second language (L2), and Italian as a third language (L3). Observational data suggests that influence or transfer of linguistic elements can arise not only from one's native language (L1) but also from non-native languages. This implies that, for individuals proficient in multiple languages, the native language doesn't consistently hold a superior position. Instead, it should be examined alongside other potential sources of linguistic transfer. Earlier studies have demonstrated that high proficiency in a second language can significantly impact cross-linguistic influences when acquiring a third and additional language. Among the extensively examined factors, the typological relationship stands out as one of the most scrutinized variables. The goal of the present study was to explore whether language typology and formal similarity or proficiency in the second language had a more significant impact on L4 acquisition. Participants in this study were third-year undergraduate students at Rochester Institute of Technology’s subsidiary in Croatia (RIT Croatia). All the participants had exclusively Croatian as L1, English as L2, Italian as L3 and were learning Spanish as L4 at the time of the study. All the participants had a high level of proficiency in English and low level of proficiency in Italian. Based on the error analysis the findings indicate that for some types of lexical errors such as coinage, language typology had a more significant impact and Italian language was the preferred source of transfer despite the law proficiency in that language. For some other types of lexical errors, such as calques, second language proficiency had a more significant impact, and English language was the preferred source of transfer. On the other hand, Croatian, Italian, and Spanish are more similar in the area of morphology due to higher degree of inflection compared to English and the strongest influence of the Croatian language was precisely in the area of morphology. The results emphasize the need to consider linguistic resemblances between the native language (L1) and the third and additional language as well as the learners' proficiency in the second language when developing successful teaching strategies for acquiring the third and additional language. These conclusions add to the expanding knowledge in the realm of Second Language Acquisition (SLA) and offer practical insights for language educators aiming to enhance the effectiveness of learning experiences in acquiring a third and additional language.

Keywords: third and additional language acquisition, cross-linguistic influences, language proficiency, language typology

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Authors: Rui Xing, Xiaowen Zhao, Hao Huang, Chang Liu

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Creativity is regarded as vital for new ventures' development since the whole process of entrepreneurship is rooted in the creation and exploration of new ideas. The entrepreneurial leader is central to the entrepreneurial team, who plays an especially important role in this process. However, few scholars have studied the impact entrepreneurs' leadership styles on the creativity of entrepreneurial teams. In this study, we integrate the historically disjointed literatures of leadership style and team creativity under entrepreneurship circumstance to understand why and when entrepreneurs' different leadership style relates to team creativity. Focus on answering the following questions: Is humility leadership necessarily better than narcissism leadership at increasing the creativity of entrepreneurial teams? Moreover, in which situations humility leadership or narcissism leadership is more conducive to the entrepreneurial team's creativity? Based on the componential theory of creativity and entrepreneurial cognition theory, we explore the relationship between entrepreneurs' leadership style and team creativity, treating team cognitive diversity and environmental uncertainty as moderators and psychological empowerment as mediators. We tested our hypotheses using data gathered from 64 teams and 256 individual members from 53 new firms in China's first-tier cities such as Beijing and Shanghai. We found that there was a significant positive relation between entrepreneurs' humble leadership and psychological empowerment, and the more significant the positive correlation was when the environmental uncertainty was high. In addition, there was a significant negative relation between entrepreneurs' narcissistic leadership and psychological empowerment, and the negative relation was weaker in teams with a high team cognitive diversity value. Furthermore, both entrepreneurs' humble leadership and team psychological empowerment were significantly positively related to team creativity. While entrepreneurs' narcissistic leadership was negatively related to team creativity, and the negative relationship was weaker in teams with a high team cognitive diversity or a high environmental uncertainty value. This study has some implications for both scholars and entrepreneurs. Firstly, our study enriches the understanding of the role of leadership in entrepreneurial team creativity. Different from previous team creativity literatures, focusing on TMT and R&D team, this study is a significant attempt to demonstrate that entrepreneurial leadership style is particularly relevant to the core requirements of team creativity. Secondly, this study introduces two moderating variables, cognitive diversity and environmental uncertainty, to explore the different boundary conditions under which the two leadership styles play their roles, which is helpful for entrepreneurs to understand how to leverage leadership to improve entrepreneurial team creativity, how to recruit cognitively diverse employees to moderate the effects of inappropriate leadership to the team. Finally, our findings showed that entrepreneurs' humble leadership makes a unique contribution to explaining team creativity through team psychological empowerment.

Keywords: entrepreneurs’ leadership style, entrepreneurial team creativity, team psychological empowerment, team cognitive diversity, environmental uncertainty

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Authors: Tamara Slišković, Tomislav Sekur

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This manuscript examines factors that affect demand and supply of the housing market in Croatia. The period from the beginning of this century, until 2008, was characterized by a strong expansion of construction, housing and real estate market in general. Demand for residential units was expanding, and this was supported by favorable lending conditions of banks. Indicators on the supply side, such as the number of newly built houses and the construction volume index were also increasing. Rapid growth of demand, along with the somewhat slower supply growth, led to the situation in which new apartments were sold before the completion of residential buildings. This resulted in a rise of housing price which was indication of a clear link between the housing prices with the supply and demand in the housing market. However, after 2008 general economic conditions in Croatia worsened and demand for housing has fallen dramatically, while supply descended at much slower pace. Given that there is a gap between supply and demand, it can be concluded that the housing market in Croatia is in imbalance. Such trend is accompanied by a relatively small decrease in housing price. The final result of such movements is the large number of unsold housing units at relatively high price levels. For this reason, it can be argued that housing prices are sticky and that, consequently, the price level in the aftermath of a crisis does not correspond to the discrepancy between supply and demand on the Croatian housing market. The degree of rigidity of the housing price can be determined by inclusion of the housing price as the explanatory variable in the housing demand function. Other independent variables are demographic variable (e.g. the number of households), the interest rate on housing loans, households' disposable income and rent. The equilibrium price is reached when the demand for housing equals its supply, and the speed of adjustment of actual prices to equilibrium prices reveals the extent to which the prices are rigid. The latter requires inclusion of the housing prices with time lag as an independent variable in estimating demand function. We also observe the supply side of the housing market, in order to explain to what extent housing prices explain the movement of new construction activity, and other variables that describe the supply. In this context, we test whether new construction on the Croatian market is dependent on current prices or prices with a time lag. Number of dwellings is used to approximate new construction (flow variable), while the housing prices (current or lagged), quantity of dwellings in the previous period (stock variable) and a series of costs related to new construction are independent variables. We conclude that the key reason for the imbalance in the Croatian housing market should be sought in the relative relationship of price elasticities of supply and demand.

Keywords: Croatian housing market, economic crisis, housing prices, supply imbalance, demand imbalance

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Authors: Zahra Khalid, Gul Muhammad Khan, Arbab Masood Ahmad

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Cartesian Genetic Programming (CGP) is explored to design an optimal circuit capable of early stage breast cancer detection. CGP is used to evolve simple multiplexer circuits for detection of malignancy in the Fine Needle Aspiration (FNA) samples of breast. The data set used is extracted from Wisconsins Breast Cancer Database (WBCD). A range of experiments were performed, each with different set of network parameters. The best evolved network detected malignancy with an accuracy of 99.14%, which is higher than that produced with most of the contemporary non-linear techniques that are computational expensive than the proposed system. The evolved network comprises of simple multiplexers and can be implemented easily in hardware without any further complications or inaccuracy, being the digital circuit.

Keywords: breast cancer detection, cartesian genetic programming, evolvable hardware, fine needle aspiration

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Authors: Ming Zhou, Taeho Park

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Early stage technologies have been particularly challenging to manage due to high degrees of their numerous uncertainties. Most research results directly out of a research lab tend to be at their early, if not the infant stage. A long while uncertain commercialization process awaits these lab results. The majority of such lab technologies go nowhere and never get commercialized due to various reasons. Any efforts or financial resources put into managing these technologies turn fruitless. High stake naturally calls for better results, which make a patenting decision harder to make. A good and well protected patent goes a long way for commercialization of the technology. Our preliminary research showed that there was not a simple yet productive procedure for such valuation. Most of the studies now have been theoretical and overly comprehensive where practical suggestions were non-existent. Hence, we attempted to develop a simple and highly implementable procedure for efficient and scalable valuation. We thoroughly reviewed existing research, interviewed practitioners in the Silicon Valley area, and surveyed university technology offices. Instead of presenting another theoretical and exhaustive research, we aimed at developing a practical guidance that a government agency and/or university office could easily deploy and get things moving to later steps of managing early stage technologies. We provided a procedure to thriftily value and make the patenting decision. A patenting index was developed using survey data and expert opinions. We identified the most important factors to be used in the patenting decision using survey ratings. The rating then assisted us in generating good relative weights for the later scoring and weighted averaging step. More importantly, we validated our procedure by testing it with our practitioner contacts. Their inputs produced a general yet highly practical cut schedule. Such schedule of realistic practices has yet to be witnessed our current research. Although a technology office may choose to deviate from our cuts, what we offered here at least provided a simple and meaningful starting point. This procedure was welcomed by practitioners in our expert panel and university officers in our interview group. This research contributed to our current understanding and practices of managing early stage technologies by instating a heuristically simple yet theoretical solid method for the patenting decision. Our findings generated top decision factors, decision processes and decision thresholds of key parameters. This research offered a more practical perspective which further completed our extant knowledge. Our results could be impacted by our sample size and even biased a bit by our focus on the Silicon Valley area. Future research, blessed with bigger data size and more insights, may want to further train and validate our parameter values in order to obtain more consistent results and analyze our decision factors for different industries.

Keywords: technology management, early stage technology, patent, decision

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Authors: Talha Sareshwala

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The purpose of this research paper is to revise the skills of an entrepreneur in the making and to guide future Entrepreneurs into a promising future. The study presents a broader review of entrepreneurship, starting from its definition and antecedents. A well-developed original set of guidelines can help budding entrepreneurs and practitioners seeking an answer to being successful as an entrepreneur. It is a journey full of excitement, experiences, rewards, and learning. Dedication, work ethics and a never-say-die attitude will largely contribute to the success as a businessman and an entrepreneur. This paper is sharing an experience of how an entrepreneur can act as a catalyst for young minds while ensuring them that ethics and principles do pay in business when followed in true spirit and action. It is very important for an entrepreneur to enhance his product or services, marketing skills, and market share, along with providing customer satisfaction and opportunities for teams to improve their leadership qualities. To have strong employee loyalty and job satisfaction among its employees. Based on Research objectives, primarily in-depth interviews and focused group interviews were conducted as a qualitative research method. And to support this survey, questionnaires were used as a qualitative research method to explore how Indian Entrepreneurs face the challenge of the changing, volatile socio-political environment in India.

Keywords: entrepreneur, business ethics, sales, marketing

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Authors: Thevaranchany Sivaskaran

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Women entrepreneurs are the key players in the society and their contributions is highly highlighted to enhance economic stability in the country. In Sri Lanka, especially in North and East provinces people badly affected by war. Most of them are widows and women headed families. Due to this changing environment, Educational opportunities, and the support of NGO’s Most of the women have started their business and become entrepreneurs. Even though existing family setup and social setup entrepreneurial women are overburdened and difficult to balance their business and family roles. The research has been conducted on the experiences of women entrepreneurs with the family role support and work-life balance within the small and micro- enterprise sector in Jaffna, Srilanka. This study aims to identify that what extent the role of family support will be the tool to balancing work and life effectively and, secondly, the main challenges they face in achieving work-life balance. This is done by drawing on literatures including those on work-life balance, small-and micro enterprises, and entrepreneurship theories. To find out this objective, the data were collected from 50 entrepreneurs among the members of Jaffna women chamber in each GS division basis (cluster random sampling). A qualitative methodological technique and semi-structured interviews were used to collect the data for the case study on these entrepreneurs. The results indicate that the majority of entrepreneurs do not enjoy a sense of work-life balance because most of them are women headed family and they need to work hard to generate financial profit for the benefit of family. The motivation for them to work in this way is to provide basic needs. Results confirmed for others that support of husbands is very important. Mostly, emotional support (belief and empowerment) is exposed; however, getting financial contribution seems to be highly appreciated. More responsibilities which spouses were ready to take over regarding the home responsibilities (that is, childcare) should also not be neglected in the system of support to their entrepreneurial wives. Although, more important for all, women with children appreciated other members and spouses help and assistance to a higher extent. Results showed that majority of women who started their own business feel that in the first year of ope-ration the emotional support of family members was more important.

Keywords: family support, work life balance, women entrepreneurs, Jaffna District, Sri Lanka

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Authors: Abeba Nigussie Turi, Xiangming Samuel Li

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Data-driven business models are more typical for established businesses than early-stage startups that strive to penetrate a market. This paper provided an extensive discussion on the principles of data analytics for early-stage digital entrepreneurial businesses. Here, we developed data-driven decision-making (DDDM) framework that applies to startups prone to multifaceted barriers in the form of poor data access, technical and financial constraints, to state some. The startup DDDM framework proposed in this paper is novel in its form encompassing startup data analytics enablers and metrics aligning with startups' business models ranging from customer-centric product development to servitization which is the future of modern digital entrepreneurship.

Keywords: startup data analytics, data-driven decision-making, data acquisition, data generation, digital entrepreneurship

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Authors: Jessica Ordoñez, Francisco Ochoa, Pascual García

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The objective of this paper is to analyze the relationship between return migration in Ecuador and economic growth. The improvement of macroeconomic conditions in Latin America, starting in 2012, makes the region a new migratory destination, in both senses in north-south and south-south flows. Current studies highlight only the role of the entrepreneurial migrant in generating employment and economic growth in the region. Nevertheless, it has not been considered that not all migrants are entrepreneurs and that not all entrepreneurs contribute to economic growth. This research compares the socioeconomic and labor characteristics of migrant returnees working as freelancers in Ecuador. The principal aim is to demystify the role of migrant entrepreneurs in regional growth and to identify socioeconomic characteristics that can enhance growth. A panel econometric model was used, which is part of the information from labor and macroeconomic surveys.

Keywords: economic growth, entrepreneur, migration, returned migration

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Authors: Bi-Huei Tsai

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Previous studies on financial distress prediction choose the conventional failing and non-failing dichotomy; however, the distressed extent differs substantially among different financial distress events. To solve the problem, “non-distressed”, “slightly-distressed” and “reorganization and bankruptcy” are used in our article to approximate the continuum of corporate financial health. This paper explains different financial distress events using the two-stage method. First, this investigation adopts firm-specific financial ratios, corporate governance and market factors to measure the probability of various financial distress events based on multinomial logit models. Specifically, the bootstrapping simulation is performed to examine the difference of estimated misclassifying cost (EMC). Second, this work further applies macroeconomic factors to establish the credit cycle index and determines the distressed cut-off indicator of the two-stage models using such index. Two different models, one-stage and two-stage prediction models, are developed to forecast financial distress, and the results acquired from different models are compared with each other, and with the collected data. The findings show that the two-stage model incorporating financial ratios, corporate governance and market factors has the lowest misclassification error rate. The two-stage model is more accurate than the one-stage model as its distressed cut-off indicators are adjusted according to the macroeconomic-based credit cycle index.

Keywords: Multinomial logit model, corporate governance, company failure, reorganization, bankruptcy

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Authors: Ifeanyi Charles Otuokere, Victoria Nneoma Nnochiri

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Entrepreneurship generally and specifically within the rural communities in Nigeria is a fast means of bringing development within the communities. This is made possible by utmost maximization and management of available local resources to develop rural areas through good management of these local resources. This study anchors on the rural development paradigm and the integrated rural development theories to understudy the knowledge of rural entrepreneurs on rural economic development. The research study made use of surveys and descriptive analysis. The assessable population for the study, which was randomly selected, is 100 rural entrepreneurs from ten rural communities within the Ikwuano Local Government Area of Abia State. The study made use of both primary and secondary as a source of data collection with much emphasis on a primary source, although secondary data such as journals, textbooks electronic sources were also utilised. A carefully structured questionnaire drafted to extract raw data was administered to selected entrepreneurs. The findings of the study showed that developments within rural communities can only be achieved through rural entrepreneurship. This is evidenced in increased output, job creation, and most importantly, reduction of rural to urban migration, among other things. Recommendations were also made based on these findings; the researchers recommended that infrastructural developments should be made available in the rural communities and government policies should create enabling environments along with other assistance to help these rural entrepreneurs achieve their sole aim.

Keywords: economic developments, rural communities, rural development, rural entrepreneurship

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Authors: Elsie L. Echeverri-Carroll

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Entrepreneurial ecosystems have become an important concept to explain the birth and sustainability of technology-based entrepreneurship within regions. However, as a theoretical concept, the temporal evolution of entrepreneurship systems remain underdeveloped, making it difficult to understand their dynamic contributions to entrepreneurs. This paper argues that successful technology-based ecosystems go over three cumulative spawning stages: corporate spawning, entrepreneurial spawning, and community spawning. The importance of corporate incubation in vibrant entrepreneurial ecosystems is well documented in the entrepreneurial literature. Similarly, entrepreneurial spawning processes for venture capital-backed startups are well documented in the financial literature. In contrast, there is little understanding of both the third stage of entrepreneurial spawning (when a community of entrepreneurs become a source of firm spawning) and the temporal sequence in which spawning effects occur in a region. We test this three-stage model of entrepreneurial spawning using data from two large databases on firm births—the Secretary of State (160,000 observations) and the National Establishment Time Series (NEST with 150,000 observations)—and information collected from 60 1½-hour interviews with startup founders and representatives of key entrepreneurial organizations. This temporal model is illustrated with case study of Austin, Texas ranked by the Kauffman Foundation as the number one entrepreneurial city in the United States in 2015 and 2016. The 1½-year study founded by the Kauffman Foundation demonstrates the importance of taken into consideration the temporal contributions of both large and entrepreneurial firms in understanding the factors that contribute to the birth and growth of technology-based entrepreneurial regions. More important, these learnings could offer an important road map for regions that pursue to advance their entrepreneurial ecosystems.

Keywords: entrepreneurial ecosystems, entrepreneurial industrial clusters, high-technology, temporal changes

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Authors: Iman Shabanzadeh

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The purpose of this research is to understand the lived experience of private sector entrepreneurs in facing the sources of freedom and unfreedom and benefiting from opportunities and basic capabilities in the process of realizing entrepreneurial ability in order to get closer to the macro situation of the narrative of human development in Iranian society. Therefore, the main question of the present research is to figure out what sources of freedom and social opportunities and unfreedom entrepreneurs in Iran's society benefit from the process of transforming their potential entrepreneurial abilities into entrepreneurial and business enterprises. In terms of methodology, the current research method will be thematic analysis in the form of semi-structured interviews with entrepreneurs active in small and medium-sized enterprises in Tehran, whose process of establishing and expanding their entrepreneurial activity has been in the last two decades. By examining the possibilities and refusals of advancing these people in the three stages of 'Idea creation and desire for entrepreneurship’, ‘Starting and creating a business’, and finally, ‘Continuing and expanding the business’, the findings of the research show the impact of five main resources for people to realize their potential talents, from the stage of creating an idea to expanding their business. These sources include' family institution,’ ‘education institution,’ ‘social norms and beliefs,’ ‘government and market,’ and ‘personality components of the entrepreneur.’ Finally, the findings are reported in three levels of basic themes (fifteen items), organizing themes (five items), and comprehensive themes (one item) and in the form of a theme network.

Keywords: entrepreneurship, human development, capability, sources of freedom

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Authors: Rıza Gürhan Korkut, Metin Çelik, Süleyman Özkaynak

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The early-stage design and development projects for the freight village initiatives require a comprehensive analysis of both qualitative and quantitative data. Considering the literature review on structural and operational management requirements, this study proposed an original taxonomy on criterion structure to assess freight village conceptualization. The potential challenges and uncertainties of the developed taxonomy are extended. Besides requirement analysis, this study is also expected to contribute to forthcoming research on benchmarking of freight villages in different regions. The methodology used in this research is a systematic review on several articles as per their modelling approaches, sustainability, entities and decisions made together with the uncertainties and features of their models taken into consideration. The major findings of the study that are the categories for assessing the projects attributes on their environmental, socio-economical, accessibility and location aspects.

Keywords: logistics centers, freight village, operational management, taxonomy

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Authors: An Chengrui, Yin Zi, Wu Bingbing, Ma Yuanzhu, Jin Kaixiu, Chen Xiao, Ouyang Hongwei

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Single cell RNA sequence (scRNA-seq) is one of the effective tools to study transcriptomics of biological processes. Recently, similarity measurement of cells is Euclidian distance or its derivatives. However, the process of scRNA-seq is a multi-variate Bernoulli event model, thus we hypothesize that it would be more efficient when the divergence between cells is valued with relative entropy than Euclidian distance. In this study, we compared the performances of Euclidian distance, Spearman correlation distance and Relative Entropy using scRNA-seq data of the early, medial and late stage of limb development generated in our lab. Relative Entropy is better than other methods according to cluster potential test. Furthermore, we developed KL-SNE, an algorithm modifying t-SNE whose definition of divergence between cells Euclidian distance to Kullback–Leibler divergence. Results showed that KL-SNE was more effective to dissect cell heterogeneity than t-SNE, indicating the better performance of relative entropy than Euclidian distance. Specifically, the chondrocyte expressing Comp was clustered together with KL-SNE but not with t-SNE. Surprisingly, cells in early stage were surrounded by cells in medial stage in the processing of KL-SNE while medial cells neighbored to late stage with the process of t-SNE. This results parallel to Heatmap which showed cells in medial stage were more heterogenic than cells in other stages. In addition, we also found that results of KL-SNE tend to follow Gaussian distribution compared with those of the t-SNE, which could also be verified with the analysis of scRNA-seq data from another study on human embryo development. Therefore, it is also an effective way to convert non-Gaussian distribution to Gaussian distribution and facilitate the subsequent statistic possesses. Thus, relative entropy is potentially a better way to determine the divergence of cells in scRNA-seq data analysis.

Keywords: Single cell RNA sequence, Similarity measurement, Relative Entropy, KL-SNE, t-SNE

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Authors: Phang Moon Leng

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Automated Early Warning Scores is a newly developed clinical decision tool that is used to streamline and improve the process of obtaining a patient’s vital signs so a clinical decision can be made at an earlier stage to prevent the patient from further deterioration. This technology provides immediate update on the score and clinical decision to be taken based on the outcome. This paper aims to study the use of an automated early warning score system on whether the technology has assisted the hospital in early detection and escalation of clinical condition and improve patient outcome. The hospital adopted the Modified Early Warning Scores (MEWS) Scoring System and MEWS Clinical Response into Philips IntelliVue Guardian Automated Early Warning Score equipment and studied whether the process has been leaned, whether the use of technology improved the usage & experience of the nurses, and whether the technology has improved patient care and outcome. It was found the steps required to obtain vital signs has been significantly reduced and is used more frequently to obtain patient vital signs. The number of deaths, and length of stay has significantly decreased as clinical decisions can be made and escalated more quickly with the Automated EWS. The automated early warning score equipment has helped improve work efficiency by removing the need for documenting into patient’s EMR. The technology streamlines clinical decision-making and allows faster care and intervention to be carried out and improves overall patient outcome which translates to better care for patient.

Keywords: automated early warning score, clinical quality and safety, patient safety, medical technology

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Authors: Igbekoyi Olusola Esther, Olurankinse Felix

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This paper examined the factors that militate against Will writing among entrepreneurs in Ondo State Nigeria and the effect of intestate death on business continuity after the exit of the entrepreneurs. The paper was written with a view to providing information on the reasons why intestate death is common among entrepreneurs in Ondo State and the effects on continuity of business after death of the initial owners. Data were obtained from primary source through the administration of questionnaires to entrepreneurs drawn from 50 registered manufacturing companies. These companies have been in existence for a minimum of 10 years with minimum staff strength of 20 workers each. These companies were selected using the purposive random sampling technique in order to capture firms that meet the requirements of this paper. Data obtained were analyzed using descriptive statistics, chi-square and regression analysis. The findings of the paper revealed that administration of Will, traditional beliefs, Will execution procedures, age and non- admissibility of Wills in court are the major factors that militates against Will writing among entrepreneurs in Ondo State. It was also discovered that chaos and instability in business, reduction in sales and productivity, poor succession planning, polygamous nature of marriages, difficulty in sourcing for funds and gender preference are joint predictors of business continuity in event intestate death which is evident in the result where R2 =.954;(F 6, 26)= 89.644; (P < 0.01). The individual beta co-efficient, t- statistics and significance of each variable revealed that gender preference (.735; 7.031; .000) and poor succession plan (.402; 2.840; .009) have significant positive effect on business continuity; while reduction in sales and productivity (-.059; -.335; .740) and difficulty in sourcing for funds (-.217; -1.367; .188) have negative effect; other variables also have positive relationship but they are not significant. It is therefore concluded that business continuity after the exit of the entrepreneur is highly dependent on the rebuilding of confidence on Wills administration in ondo state Nigeria, proper succession planning and elimination of gender preferences.

Keywords: intestacy, business continuity, entrepreneurs, will, succession planning

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Authors: S. Muogbo Uju, U. Akpunonu Evan

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The prevailing harsh environment factors coupled with high poverty rate and unemployment propels a high rate of entrepreneurial activities in developing economies. Women entrepreneurs operate with gender bias among other constraints that can constitute a threats or create opportunity for women entrepreneurs. This empirical paper investigates and critically examines women entrepreneurship as an inventive approach to ensure a sustainable development in Anambra state. The study used descriptive statistics (frequencies, mean, and percentages) to answer the three research questions posed. Hypotheses testing were done with Pearson product moment correlation and multiple regression were employed in data analysis. Consequently, the finding of this study portrayed a significant impact between women entrepreneurship activity, job creation and wealth creation.

Keywords: women entrepreneurs, skill acquisition, sustainability, wealth creation, job creation, economic development

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Authors: Katarzyna Niewiadomska

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Many technology startups fail to achieve a worthwhile return on investment for their funders, founders, and employees. Failures in product development, to-market strategy, sales, and delivery are commonly recognized. Founder failures are not as obvious and harder to identify. This paper explores six critical failure points that entrepreneurs and innovators are susceptible to and aims to link their emotional intelligence and behavioral profile to the points at which they experienced self-perceived failure. A model of six failure points from the perspective of the technology entrepreneur ranging from pre-startup to maturity is provided. By analyzing emotional and behavioral profile data from entrepreneurs and recording in-person accounts, certain key emotional and behavioral clusters contributing to each failure point are determined, and several underlying factors are defined and discussed. Recommendations that support entrepreneurs and innovators stalling at each failure point are given. This work can enable stakeholders to evaluate founder emotional and behavioral profiles and to take risk-mitigating action, either through coaching or through more robust team creation, to avoid founder-related company failure. The paper will be of interest to investors funding startups, executives leading them and mentors supporting them.

Keywords: behavior, emotional intelligence, entrepreneur, failure

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Authors: Rreze Gecaj, Corina Schanzenbach, Benedikt Kirchner, Michael Pfaffl, Bajram Berisha

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The maintenance of corpus lutem (CL) during early pregnancy in cattle is a critical and multifarious process. A luteotrophic mechanism originating from the embryo is widely accepted as the triggering signal for the CL maintenance. In the cattle, it is the interferon-tau (IFNT) secretion form conceptus that prevents CL regression and ensures progesterone production for the establishment of pregnancy. In addition to endocrine and paracrine signals, microRNA (miRNA) can also support CL sustainability during early pregnancy. MiRNA are small non-coding nucleic acids that regulate gene expression post-transcriptionally and are shown to be involved in the modulation of CL function. However, the examination of miRNAs in corpus luteum function at the early pregnancy still remains largely uncovered. This study aims at profiling the expression of miRNA in CL during the early pregnancy in cattle by comparing it with the CL form late cycle and with the regressed CL. Corpora lutea were assigned in two different groups during the cycle (C13 group, late CL: days 13-18 and C18, regressed CL group: day >18) and during the early pregnancy (group P: 1-2 month). The estrous cycle was determined by macroscopic examination and to age the fetus crown-rump length measurement was applied. A total of 9 corpora lutea from individual animals were included in the study, three corpora lutea for each group. MiRNAs population was profiled using small RNA next-generation sequencing and biologically significant miRNAs were evaluated for their differential expression using the DESeq2-methodology. We show that 6 differentially expressed miRNAs (bta-mir-2890, -2332, -2441-3p, -148b, -1248 and -29c) are common to both comparisons, P vs C13 and P vs C18. While for each stage individually we have identified unique miRNAs differentially expressed only for the given comparison. bta-miR-23a and -769 were unique miRNAs differentially expressed in P vs C13, whereas forty-four unique miRNAs were identified as differentially expressed in P vs C18. These data confirm that miRNAs are highly abundant in luteal tissue during early pregnancy and potentially regulate the CL maintenance at this stage of fetus development.

Keywords: bovine, corpus luteum, microRNA, pregnancy, RNA-Seq

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Authors: Pavel Damborsky, Martina Zamorova, Jaroslav Katrlik

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Prostate cancer is annually the most common newly diagnosed cancer among men. An extensive number of evidence suggests that traditional serum Prostate-specific antigen (PSA) assay still suffers from a lack of sufficient specificity and sensitivity resulting in vast over-diagnosis and overtreatment. Thus, the early-stage detection of prostate cancer (PCa) plays undisputedly a critical role for successful treatment and improved quality of life. Over the last decade, particular altered glycans have been described that are associated with a range of chronic diseases, including cancer and inflammation. These glycans differences enable a distinction to be made between physiological and pathological state and suggest a valuable biosensing tool for diagnosis and follow-up purposes. Aberrant glycosylation is one of the major characteristics of disease progression. Consequently, the aim of this study was to develop a more reliable tool for early-stage PCa diagnosis employing lectins as glyco-recognition elements. Biosensor and biochip technology putting to use lectin-based glyco-profiling is one of the most promising strategies aimed at providing fast and efficient analysis of glycoproteins. The proof-of-concept experiments based on sandwich assay employing anti-PSA antibody and an aptamer as a capture molecules followed by lectin glycoprofiling were performed. We present a lectin-based biosensing assay for glycoprofiling of serum biomarker PSA using different biosensor and biochip platforms such as label-free surface plasmon resonance (SPR) and microarray with fluorescent label. The results suggest significant differences in interaction of particular lectins with PSA. The antibody-based assay is frequently associated with the sensitivity, reproducibility, and cross-reactivity issues. Aptamers provide remarkable advantages over antibodies due to the nucleic acid origin, stability and no glycosylation. All these data are further step for construction of highly selective, sensitive and reliable sensors for early-stage diagnosis. The experimental set-up also holds promise for the development of comparable assays with other glycosylated disease biomarkers.

Keywords: biomarker, glycosylation, lectin, prostate cancer

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Authors: Faisal Alshammari, Abdulmajid Addali, Mosab Alrashed, Taihiret Alhashan

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The application of acoustic emission techniques is gaining popularity, as it can monitor the condition of gears and bearings and detect early symptoms of a defect in the form of pitting, wear, and flaking of surfaces. Early detection of these defects is essential as it helps to avoid major failures and the associated catastrophic consequences. Signal processing techniques are required for early defect detection – in this article, a time domain technique called the Energy Index (EI) is used. This article presents an investigation into the Energy Index’s effectiveness to detect early-stage defect initiation and deterioration, and compares it with the common r.m.s. index, Kurtosis, and the Kolmogorov-Smirnov statistical test. It is concluded that EI is a more effective technique for monitoring defect initiation and development than other statistical parameters.

Keywords: acoustic emission, signal processing, kurtosis, Kolmogorov-Smirnov test

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Authors: Vinko Vidučić, Ljiljana Vidučić, Damir Boras

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The goals of the research include the determination of the characteristics of SMEs finance in Croatia, as well as the determination of indirect growth rates of the information model of the entrepreneurs` perception of business environment. The research results show that cost of finance and access to finance are most important constraining factor in setting up and running the business of small entrepreneurs in Croatia. Furthermore, small entrepreneurs in Croatia are significantly dissatisfied with the administrative barriers although relatively to a lesser extent than was the case in the pre-crisis time. High collateral requirement represents the main characteristic of bank lending concerning SMEs followed by long credit elaboration process. Formulated information model has defined the individual impact of indirect growth rates of the remaining variables on the model’s specific variable.

Keywords: business environment, information model, indirect growth rates, SME finance

Procedia PDF Downloads 364