This Interest Group focuses on entrepreneurial behavior both in new ventures and established organizations. Its purpose is to help create useful knowledge on effective entrepreneurial strategies. Some of the important questions that it seeks to address include: How can we strengthen the theorizing on entrepreneurial activity? How does a focus on innovation and entrepreneurship differ from other theories on competitive advantage? What are the appropriate research methods for a scientific study of the entrepreneurial process? What is the role of strategy in a new venture firm and how does it differ from that in an established firm?
The E&S Insights Series seeks to bring together entrepreneurship scholars who can share teaching or research advice and experiences with our members.
The first webinar took place on November 13, 2019. Please check here for recordings and sign up for future webinars.
Live webinar participation is a benefit of membership in the Strategic Management Society. You can learn more and join here.
The Spatial Ecology of Entrepreneurship
Held on Jun 7, 2022 at 11:00 AM Eastern
The 13th webinar in the SMS E&S Insights Series featured Olav Sorenson, UCLA, presenting "The Spatial Ecology of Entrepreneurship."
Why do some regions produce more entrepreneurs in specific industries than others? An ecological lens provides insight into this question: the demography of organizations in a region— particularly the number of firms in an industry and the proportion of them that are small and young—shapes many aspects of the environment for would-be entrepreneurs: (i) beliefs about the desirability of founding a firm, (ii) opportunities to learn about the industry and entrepreneurship and to build the abilities and social capital needed to succeed and (iii) the ease of acquiring critical resources. In this talk, Sorenson discusses these themes in past research and some of the directions for new research suggested by this perspective.
Organizing for Innovation: The Entrepreneurial Perspective
Held on May 12, 2022 at 11:00 AM Eastern
The 12th webinar in the SMS E&S Insights Series featured David Hsu, University of Pennsylvania, presenting on "Organizing for Innovation: The Entrepreneurial Perspective."
Hsu aggregate insights from a number of his recent research papers to provide an explanation for the drivers of the shift from innovation largely occurring in large, established firms in the U.S. He discussed two types of organizations which have stepped in to fill the void over the past 50 years: universities and startups. Through markets for technology, established firms increasingly rely on these sources of “upstream” innovation. As a consequence, Hsu discussed new research on commercializing university-originated technologies, as well as some recent work on the technology acquisition market for innovative startups.
Founders, Joiners, and Entrepreneurial Human Capital
Hled on October 14, 2021 at 11:00 AM Eastern
The 11th webinar in the SMS E&S Insights Series featured Henry Sauermann, ESMT, presenting "Founders, Joiners, and Entrepreneurial Human Capital."
Entrepreneurship research has for a long time focused on founders - studying their motivations, human capital, and decisions. Recent work has started to shed light on startup “joiners”, individuals who join founders in their entrepreneurial efforts but do not want to be founders themselves. Joiners are particularly important in technology-based ventures that often require knowledge and skills in a broad range of areas. In this webinar, I will provide an overview of research on joiners, including studies comparing founders and joiners with respect to their motivations and ability, studies tracing the early career transitions of joiners, and research exploring the role of joiners in shaping startup performance. I will also highlight promising opportunities for future research on joiners and entrepreneurial human capital.
From Ideas to New Ventures: Exploring How Established Firms Give Rise to Employee Entrepreneurship
Held on May 19, 2021 at 11:00 AM EDT (UTC -4)
The tenth webinar in the SMS E&S Insights Series will feature Martin Ganco, University of Wisconsin, presenting "From Ideas to New Ventures: Exploring How Established Firms Give Rise to Employee Entrepreneurship."
Exploring how startups emerge from new ideas has been at the core of entrepreneurship research. Over the last decade, we have accumulated a much better understanding of the role that established firms play in this process. However, many important questions remain. In this webinar, I will focus on discussing several research projects examining the role of employees’ ideas and knowledge acquired in the context of established firms as a precursor of employee entrepreneurship. I will also discuss some novel data sources and empirical approaches that may help us advance research in this domain. Importantly, the webinar will be an opportunity to go beyond individual research studies and discuss broader connections of this research stream. For instance, I will explore the connections between employee entrepreneurship and elements of the legal environment, long-term technological trends, changing nature of competition and macro trends in entrepreneurial activity.
*This webinar is open to all 2021 Members of the Strategic Management Society. You can learn more and join here: www.strategicmanagement.net/home/members/overview
Held on April 6, 2021 at 11:00 AM EDT (UTC -4) on Zoom
In the ninth webinar in the SMS E&S Insights Series, Rajshree Agarwal, University of Maryland, presented "Human Enterprise and Strategic Entrepreneurship" followed by a live audience Q&A.
Human capital—defined as knowledge, experiences and skills of an individual—focuses on human capabilities and their pecuniary returns. In contrast, human enterprise—defined as engaging in systematic, purposeful activity that may be daring or difficult—incorporates the important role of human aspirations in both shaping and benefiting from human capabilities. In this presentation, I draw upon research insights from examining evolutions of industry, firm and individual careers for how scholarship in strategy and entrepreneurship may benefit from expanding our conceptualization of individuals in the workplace beyond “human capital” to “human enterprise."
In the eighth webinar in the SMS E&S Insights series, Robert Seamans, New York University, will present "Measuring How Firms Use New Technologies."
What’s the impact of new technologies on new and incumbent firms? This is a key question for researchers and policymakers alike. In order to answer it, we need to measure and track these new technologies. Therein lies the problem—these are new technologies and so by definition not already measured. Rob will discuss his efforts to measure the adoption and use of new technologies including AI and robots, and the challenges he has encountered when trying to validate the measures. He will also describe some early findings, including that AI appears to be complementary to labor, and the implications this has for firm strategy.
Held on February 17, 2021 on Zoom
The seventh webinar in the E&S Insight Series featured Rebecca Henderson (Harvard University). She presented "Reimaging Capitalism" followed by a live audience question and answer. Capitalism is one of the greatest inventions of the human race, but in its current incarnation it is driving both accelerating climate change and unparalleled inequality. Can business help fix our broken system? We need political action if we are to bring capitalism back into balance, but our politics are increasingly populist and partisan and without concerted action by the private sector we won’t be able to solve the problems that we face. Fortunately business has both an economic and a moral case for helping to rebuild our institutions and individual firms can play a critical role in helping to drive the kind of change that we need.
STRATEGY IN NASCENT MARKETS: HOW ENTREPRENEURS WIN (OR NOT)
Held on November 16 at 8:00 AM Pacific
For our sixth webinar in the E&S Insights Series featured Kathleen Eisenhardt (Stanford University).
Kathleen will discuss her recent research on Strategy in Nascent Markets using multiple industry contexts - from serious tech to online fashion and marketplaces. In these "high velocity" markets, an opportunity is not a strategy. Rather, effective strategy is the difference between becoming the next Google or Netflix, or a floundering also-ran. Yet many entrepreneurs struggle to form winning strategies (and business models) because many rules of traditional strategy like differentiation don't work in nascent markets. Lean Startup helps but is often too simple. Instead time and timing are on center stage, cognition takes on fresh new meanings, and rich repertoires of learning and problem solving matter.
Held on September 23, 2020
In the fourth webinar in the E&S Insights Series, Maryann Feldman (University of North Carolina at Chapel Hill), presented "Regional income disparities, monopoly and finance" co-authored with Frederick Guy (Birkbeck, University of London) and Simona Iammarino (London School of Economics & Political Science).
The overall rise in inequality in the U.S. since 1980 has been matched by a rise in inequality between places; local and regional development policies aimed at reversing this polarization have seen limited success. We propose an explanation for the spatial polarization of prosperity and the failure of the policies to remedy it. Our explanation is based on the interaction of monopoly power, agglomeration economies in technology clusters, and the power of financial sector actors over non-financial firms – all phenomena characteristic of the post-1980 economy. We review evidence for each of these elements and propose some causal relationships between them, as an outline of an ongoing research program.
October 7, 2020
In our fifth webinar in the E&S Insights Series, Sonali Shah, (University of Illinois at Champaign-Urbana) will present "Users Front & Center: Innovation, Entrepreneurship & Industry Evolution".
Innovation and entrepreneurship are cornerstones of economic and social progress. As the need for solutions to complex problems grows, it is increasingly important to understand and support the processes that fuel innovation and entrepreneurship. In this webinar, we’ll discuss the role of users––as innovators, entrepreneurs, and community participants––in contributing to innovation, focusing on the distinctive processes by which they create, evaluate, share, and commercialize their ideas.
June 17, 2020
In the third webinar in E&S Insights Series, Professor Ajay Agrawal will present "Entrepreneurship Education: Learning-by-Doing at the Creative Destruction Lab".
The CDL is predicated on the thesis that a failure in the market for business judgment is the primary reason why so many smart, hardworking, and fully committed entrepreneurs fail in their efforts to commercialize their invention via a science-based entrepreneurial startup. The CDL is designed specifically to address that market failure. In this presentation, Professor Ajay Agrawal (University of Toronto) will explain the market design principles underlying the CDL program and how they are implemented in the delivery of the program. In addition, he will explain the pedagogical framework for MBA student learning in terms of both theory and learning-by-doing. The CDL program is operated at 8 business schools: University of Oxford, HEC Paris, Georgia Tech, University of Toronto, University of British Columbia, Dalhousie University, HEC Montreal, University of Calgary.
*Live webinar participation is a benefit of membership in the Strategic Management Society. You can learn more and join by clicking here.
Wednesday, April 8, 2020
Hierarchies of authority - typically pyramid-shaped structures of delegated formal authority - have become the default template for organizations of any scale today, in any sector. Why have they become so prevalent? The simplest and probably most uncontroversial answer is that they are the best-known organization design we have to manage complex interdependence among a large number of individuals. It is hard to find examples of large collaboration systems featuring significant interdependence that do not rely on hierarchy. Examining the few instances we know of is helpful in this regard to point out how “special” these special cases are. Why think of alternatives? Culturally, it may have become possible for more people than ever to declare their dislike for hierarchies. This may not be universal, but there is no reason why as organization designers we should not place the satisfaction of fundamental human preferences onto our list of design criteria. Technologically, the fourth industrial revolution, with its advances in intelligent algorithms may be challenging one of the core functions of authority hierarchies through the possibility of algorithmic management.
In this webinar, Phanish Puranam(author of The Microstructure of Organizations, Oxford University Press, 2018) overviews some of his past and ongoing research on organizational hierarchies, and summarizes what we know and what remains to be learned.
Live webinar participation is a benefit of membership in the Strategic Management Society. You can learn more and join by clicking here.
November 13, 2019
In our first webinar, Marc Gruber of EPFL, presents "Where to play - market opportunity navigator".
One of the most pressing challenges for both start-ups as well as established firms is to identify and exploit valuable market opportunities. In the start-up world, statistics show that a large number of ventures need to perform a painful pivot to a better market opportunity, as they had jumped too quickly into the first opportunity they identified. And in the corporate world, managers are challenged to understand how they can identify new growth and value creation opportunities for their firms in a more systematic manner – and not simply rely on serendipitous discoveries. In this webinar, Marc Gruber will discuss his award-winning research on market opportunity identification and introduce a practical business tool that is derived from it – “The Market Opportunity Navigator” – which has recently been added to the “Lean Startup” toolset by Steve Blank. Using examples from both start-up as well as corporate settings, the webinar will illustrate the three step process of the Market Opportunity Navigator, show how the tool can be applied to entrepreneurs and managers, explain how it can be used in a variety of teaching formats for different audiences, and show how it complements existing tools such as the Business Model Canvas.
Thank you to everyone who joined us for this special panel presented by the Entrepreneurship & Strategy Interest Group as a preview of this year's SMS Annual Conference program.
Held on August 18, 2021
The abundance of data, the explosion of computing power, and the availability of open-source tools have opened up new opportunities for strategy and entrepreneurship scholars. Management scholars have started to exploit the latest machine learning techniques to develop and test new theories. This session will bring together leading management scholars, who are using the most recent machine learning techniques (e.g., Word Embedding, Hierarchical Dirichlet Process topic modeling) to build new constructs and push the theoretical boundaries of the field. Using examples from both strategy and entrepreneurship, these scholars will showcase how the latest techniques open up new opportunities for researchers. Further, this session will start a conversation around how to combine machine learning with causal inference. Finally, we will discuss the challenges associated with the peer-reviewing process when scholars use lesser-known but advanced methods.
The Entrepreneurship & Strategy IG is excited to launch the second series of the E&S Research Seminars for Summer 2021! The Entrepreneurship & Strategy Research Seminar Series was created in the Summer of 2020 as a new initiative by Entrepreneurship & Strategy IG to help connect with and engage our members as we deal with the ongoing pandemic and the resulting postponement / cancellation of many in-person research activities.
E&S Research Seminars feature cutting-edge new research projects in the domain of Entrepreneurship & Strategy. Each seminar included the presentation of an in-progress research study, followed by comments from a senior discussant, and a lively Q&A with attendees
(Presenter in bold)
|June 24||Learning from Narratives: How Developing ‘The Pitch’ Stimulates Learning in New Ventures||Susan Cohen||Violina Rindova|
|July 1||Heisenberg Effects in Experiments on Business Ideas||Rob Wuebker, Orie Shelef, Jay Barney||Mike Ryall|
|July 15||The Mighty Girl: Family Vulnerability and Gender Homophily in Male-Led Ventures||Zhiyan Wu, Lucia Naldi, Karl Wennberg, and Timur Uman||Olenka Kacperczyk|
|July 29||Knowledge Transfer and the Rise of Superstar Firms – A Panel Analysis of Patent Citation Relationships||Takahiro Inada, and Koki Okumura||Gaétan de Rassenfosse|
|August 12||How Founder Experience Shapes Entry Strategy||Richard Tee, Chris Tucci, and Anu Wadhwa||Martin Ganco|
Held on Jun 24, 2020
Our first speaker was Xiaoshu Bei who presented research co-authored with Frank Rothaermel (details below). Mahka Moeen provided a discussion of the paper.
Post-Market Entry Capability Development: The Relationship Between Complementary Asset Discontinuity and External Technology Sourcing
Xiaoshu Bei & Frank T. Rothaermel
In this paper, we ask to what extent do firms reconfigure their complementary assets when they are entering a new industry and commercializing external innovation. Based on the dynamic capabilities framework, it is beneficial for firms to redeploy and reconfigure their complementary assets when the external environment is changing. Thus we expect firms that can change their complementary assets to be more flexible in their routines and will achieve better innovation performance. We identify changes in specific types of complementary assets based on the Division of Innovative Labor survey and look at their correlation with market entry and external sourcing. The results suggest that new entrants that rely on external technology are likely to implement changes in complementary assets. They are likely to have better innovation performance when deploying their complementary assets, especially for de novo entrants. This is especially true when the external innovation is from a startup.
Held on July 8, 2020
Implications of Priority Access in Markets with Experts: Evidence from Online Marketplace Lending
Authors: Anparasan Mahalingam, Mohammed Alyakoob, and Mohammad Rahman
Discussant: Gary Dushnitsky
Held on July 22, 2020
A Scientific Approach to the Management of Entrepreneurial Firms: A Field Experiment
Authors: Elena Novelli & Chiara Spina
Discussant: Ethan Mollick
August 5, 2020 at 8:30am Pacific Time
Spanning Two Worlds?: Corporate Accelerators and Corporate Venture Capital in Innovation Portfolios
Author: Sheryl Winston Smith
Disccusant: Christopher Tucci
Held on August 19, 2020
Should We Attribute Exceptional Success to Skill or to Luck? Empirical Evidence from Entertainment, Innovation, Auto Racing, and Firm Performance
Authors: Chengwei Liu & Jerker Denrell
Disccusant: Henrich R. Greve
Held on September 2, 2020
Does Government Fund the Best Entrepreneurial Ventures? The Case of the Small Business Innovation Research Program
Authors: Supradeep Dutta, Timothy Folta & Jenna Rodrigues
Disccusant: Daniel Armanios