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 ISSN 1996-3300

Entrepreneurship
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Funding Models for High Tech Start-ups: How Do We Fund a Fantastic Future?

William Bains
Despite excellent science and a demand for the products, the European biotechnology industry has had limited success, and in the UK has collapsed almost entirely. A major reason for this is the behaviour of the investors in the industry, from actions ranging from systematic under-investment through manipulation of business processes to inappropriate public flotation. As a result, creating and funding of VC-backed biotechnology companies is falling rapidly. I suggest that there are several mechanisms to restart the biotechnology industry in Europe, based on innovative funding from business angels, new investment vehicles, and potentially the mutualisation of development of new products.



Development of Franchising in the Emerging Market of Croatia

Ilan Alon

Mirela Alpeza

Aleksandar Erceg
Franchising is a new sector in transitioning and emerging Croatia. Those companies involved in retailing, distribution, and wholesaling operations are now becoming aware of the benefits (and costs) of franchising as an organizational method and are considering its adaptation to the local context. However, franchising is underdeveloped with only a handful of active firms, lack of regulatory structure, lack of support from institutions, disinterested banks and little experience in the marketplace. Our contribution is an assessment of the franchising model in the Croatian context.



Solving the Mobile Code - Case Study and Teaching Notes

Des Laffey
This case study analyses OneCompare, the first mobile phone comparison website in the United Kingdom. Set up in 2004, it enables mobile phone users to specify their needs and then select from the most appropriate options. With the highly complex UK mobile phone market OneCompare (www.onecompare.com) quickly became popular receiving 2 million visitors in 2006. In 2007 further growth was being planned through international expansion and possible growth into mobile phone retailing. This case study examines the founders of OneCompare, their earlier entrepreneurial activities, development of their mobile phone comparison service and their options for the future.



Do Entrepreneurs Always Play by The Rulebook?

Colin C Williams
To investigate whether entrepreneurs always conduct their business affairs wholly by the rulebook, this paper evaluates if it is common for entrepreneurs to engage in off-the-books transactions. Face-to-face interviews with 91 entrepreneurs in England, 331 in Ukraine and 81 in Russia reveal that the great majority conduct some or all of their transactions off-the-books. The outcome is a call to move beyond the currently dominant depiction of entrepreneurs as wholesome and virtuous heroes who play by the rulebook and towards a more representative understanding of the lived practices of entrepreneurship.



Successful Organizational Development and Growing Pains

Eric G Flamholtz

Yvonne Randle
This article considers a model of specifically-defined organizational development. For a successful organization, managers need to combine six key building blocks in a fashion which is appropriate to the organization’s stage of growth as it increases in size and complexity. Failure to do so results in ‘growing pains’. This organizational life cycle model can be used to pin-point when specific transitions in organizational development should occur and to indicate remedies when they are incorrectly managed. Flamholtz and co-authors, in previous research, summarize empirical evidence which supports the six variables model. This present article highlights implications of the model for practising managers.



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