IDEAS home Printed from https://ideas.repec.org/a/url/upravl/v12y2021i5p84-95.html
   My bibliography  Save this article

Serial entrepreneurs’ strategies for innovative business: A typology and assessment

Author

Listed:
  • Pavel L. Glukhikh

    (Institute of Economics of the Ural Branch of the RAS, Ekaterinburg, Russia)

  • Alla N. Golovina

    (Ural State University of Economics, Ekaterinburg, Russia)

Abstract

In the context of uncertainty, the problem of insufficient economic involvement of the Russian population is becoming increasingly acute, and it should be resolved to stimulate the country’s technological development. At the same time, the state administration ignores the significant potential of serial entrepreneurs in setting up new companies. The paper assesses the strategies followed by serial entrepreneurs when creating innovative business and develops their typology. The theories of entrepreneurship and strategic management, as well as the concept of serial entrepreneurship constitute the methodological basis of the study. Among the research methods are retrospective, case and indicative analysis. The information base includes the data retrieved from the SPARK database on the activities of Russian technology entrepreneurs included in the TechUspekh-2019 ranking. The article provides a comprehensive definition of serial technology entrepreneurship embracing its two varieties – sequential and parallel entrepreneurship. Based on retrospective analysis, the authors formulate their own typology of strategies for setting up innovative companies by serial entrepreneurs: cross-sectoral non-technological and sectoral technological diversification, sectoral and cross-sectoral search (accumulation). We highlight the importance of establishing subsequent businesses and propose a set of methods for assessing the effectiveness of the strategies. The research results indicate that the strategy “From technological services to production” proves to be the most effective and beneficial in term of cumulative performance. The study empirically tests the assumption about high performance of serial technology entrepreneurs and provides the outcomes achieved by public authorities when introducing the developed recommendations to stimulate positive serial entrepreneurial behaviour.

Suggested Citation

  • Pavel L. Glukhikh & Alla N. Golovina, 2021. "Serial entrepreneurs’ strategies for innovative business: A typology and assessment," Upravlenets, Ural State University of Economics, vol. 12(5), pages 84-95, November.
    • Handle: RePEc:url:upravl:v:12:y:2021:i:5:p:84-95
    DOI: 10.29141/2218-5003-2021-12-5-6
    as

    Download full text from publisher

    File URL: http://upravlenets.usue.ru/images/93/6.pdf
    Download Restriction: no
    File URL: http://upravlenets.usue.ru/en/issues-2021/893
    Download Restriction: no
    File URL: https://libkey.io/10.29141/2218-5003-2021-12-5-6?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Andreeva E.L. & Simon H. & Karkh D.A. & Glukhikh P.L., 2016. "Innovative entrepreneurship: a source of economic growth in the region," Экономика региона, CyberLeninka;Федеральное государственное бюджетное учреждение науки «Институт экономики Уральского отделения Российской академии наук», vol. 12(3), pages 899-910.
    2. Paul Westhead & Deniz Ucbasaran & Mike Wright & Martin Binks, 2004. "Policy toward Novice, Serial, and Portfolio Entrepreneurs," Environment and Planning C, , vol. 22(6), pages 779-798, December.
    3. Rui Baptista & Murat Karaöz & Joana Mendonça, 2014. "The impact of human capital on the early success of necessity versus opportunity-based entrepreneurs," Small Business Economics, Springer, vol. 42(4), pages 831-847, April.
    4. Holmes, Thomas J & Schmitz, James A, Jr, 1990. "A Theory of Entrepreneurship and Its Application to the Study of Business Transfers," Journal of Political Economy, University of Chicago Press, vol. 98(2), pages 265-294, April.
    5. Kathryn L. Shaw & Anders Sørensen, 2017. "The Productivity Advantage of Serial Entrepreneurs," NBER Working Papers 23320, National Bureau of Economic Research, Inc.
    6. Ari Hyytinen & Pekka Ilmakunnas, 2007. "What distinguishes a serial entrepreneur?," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 16(5), pages 793-821, October.
    7. Yelena Andreyeva & Hermann Simon & Dmitriy Karkh & Pavel Glukhikh, 2016. "Innovative Entrepreneurship: a Source of Economic Growth in the Region," Economy of region, Centre for Economic Security, Institute of Economics of Ural Branch of Russian Academy of Sciences, vol. 1(3), pages 899-910.
    8. Jing Chen, 2013. "Selection and Serial Entrepreneurs," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 22(2), pages 281-311, June.
    9. Anastasia Antsygina & Alexey Zhukov & Anastasiya Sypchenko, 2017. "Macroeconomic Determinants of the Entrepreneurial Activity at Different Business Cycle Phases," Economy of region, Centre for Economic Security, Institute of Economics of Ural Branch of Russian Academy of Sciences, vol. 1(4), pages 1095-1106.
    10. Erik Stam & David Audretsch & Joris Meijaard, 2006. "Renascent Entrepreneurship - Entrepreneurial Preferences Subsequent to Firm Exit," Papers on Entrepreneurship, Growth and Public Policy 2006-06, Max Planck Institute of Economics, Entrepreneurship, Growth and Public Policy Group.
    11. Wright, Mike & Robbie, Ken & Ennew, Christine, 1997. "Venture capitalists and serial entrepreneurs," Journal of Business Venturing, Elsevier, vol. 12(3), pages 227-249, May.
    12. Chepurenko, A., 2012. "What is Entrepreneurship and What Entrepreneurship Policy Does Russia Need? (Marginal Notes on Works of Modern Foreign Classics)," Journal of the New Economic Association, New Economic Association, vol. 14(2), pages 102-124.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Rocha, Vera & Carneiro, Anabela & Amorim Varum, Celeste, 2015. "Serial entrepreneurship, learning by doing and self-selection," International Journal of Industrial Organization, Elsevier, vol. 40(C), pages 91-106.
    2. Simon Parker, 2014. "Who become serial and portfolio entrepreneurs?," Small Business Economics, Springer, vol. 43(4), pages 887-898, December.
    3. Loren Brandt & Ruochen Dai & Gueorgui Kambourov & Kjetil Storesletten & Xiaobo Zhang, 2022. "Serial Entrepreneurship in China," Working Papers tecipa-721, University of Toronto, Department of Economics.
    4. Erin McGuire, 2021. "Entrepreneurial experience and firm exit over the business cycle," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 30(2), pages 308-337, May.
    5. Rodica Crudu, 2019. "The Role of Innovative Entrepreneurship in the Economic Development of EU Member Countries," Journal of Entrepreneurship, Management and Innovation, Fundacja Upowszechniająca Wiedzę i Naukę "Cognitione", vol. 15(1), pages 35-60.
    6. Maribel Guerrero & Iñaki Peña-Legazkue, 2019. "Renascence after post-mortem: the choice of accelerated repeat entrepreneurship," Small Business Economics, Springer, vol. 52(1), pages 47-65, January.
    7. Erik Stam & Roy Thurik & Peter van der Zwan, 2010. "Entrepreneurial exit in real and imagined markets," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 19(4), pages 1109-1139, August.
    8. Aida Z. Novenkova * & Albert V. Abilov & Olga A. Vershinina & Marina Yu. Medvedeva, 2018. "Influence of Ratings on Universities: An Outward Glance," The Journal of Social Sciences Research, Academic Research Publishing Group, vol. 4(12), pages 527-530, 12-2018.
    9. Patel, Pankaj C. & Tsionas, Mike & Oghazi, Pejvak & Izquierdo, Vanessa, 2022. "No entrepreneur steps in the same river twice: Limited learning advantage for serial entrepreneurs," Journal of Business Research, Elsevier, vol. 142(C), pages 1038-1052.
    10. Erik Stam & David Audretsch & Joris Meijaard, 2009. "Renascent entrepreneurship," Springer Books, in: Uwe Cantner & Jean-Luc Gaffard & Lionel Nesta (ed.), Schumpeterian Perspectives on Innovation, Competition and Growth, pages 223-237, Springer.
      • Stam, F.C. & Audretsch, D.B. & Meijaard, J., 2006. "Renascent Entrepreneurship," ERIM Report Series Research in Management ERS-2006-017-ORG, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus University Rotterdam.
    11. Myslyakova, Yu. G. & Shamova, Elena A. & Matushkina, Natalia A., 2019. "Research of the export code of industrial development of regional economy: identification and assessment," Economic Consultant, Roman I. Ostapenko, vol. 28(4), pages 37-44.
    12. Jinhyo Joseph Yun & MinHwa Lee & KyungBae Park & Xiaofei Zhao, 2019. "Open Innovation and Serial Entrepreneurs," Sustainability, MDPI, vol. 11(18), pages 1-31, September.
    13. J. David Brown & John S. Earle & Mee Jung Kim & Kyung Min Lee, 2017. "High-Growth Entrepreneurship," Working Papers 17-53, Center for Economic Studies, U.S. Census Bureau.
    14. Douglas Cumming & Uwe Walz & Jochen Christian Werth, 2016. "Entrepreneurial Spawning: Experience, Education, and Exit," The Financial Review, Eastern Finance Association, vol. 51(4), pages 507-525, November.
    15. Emanuela Carbonara & Hien Thu Tran & Enrico Santarelli, 2020. "Determinants of novice, portfolio, and serial entrepreneurship: an occupational choice approach," Small Business Economics, Springer, vol. 55(1), pages 123-151, June.
    16. Massimo Baù & Philipp Sieger & Kimberly A. Eddleston & Francesco Chirico, 2017. "Fail but Try Again? The Effects of Age, Gender, and Multiple–Owner Experience on Failed Entrepreneurs’ Reentry," Entrepreneurship Theory and Practice, , vol. 41(6), pages 909-941, November.
    17. Jose Plehn-Dujowich, 2010. "A theory of serial entrepreneurship," Small Business Economics, Springer, vol. 35(4), pages 377-398, November.
    18. Begoña Cueto & Patricia Suárez & Matías Mayor, 2021. "Effects of human capital and regional context on entrepreneurial survival," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 66(2), pages 331-357, April.
    19. Wu, Shuai, 2023. "Impact of serial entrepreneurs on IPO valuation: Evidence from U.S. IPOs," The North American Journal of Economics and Finance, Elsevier, vol. 64(C).
    20. Michael P. Ciuchta & Yan Gong & Anne S. Miner & Chaim Letwin & Anthony Sadler, 2016. "Imprinting and the progeny of university spin-offs," The Journal of Technology Transfer, Springer, vol. 41(5), pages 1113-1134, October.

    More about this item

    Keywords

    serial entrepreneurship; innovative business; effectiveness; company strategy; a firm start; serial entrepreneurial behaviour; technology entrepreneurship;
    All these keywords.

    JEL classification:

    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups
    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:url:upravl:v:12:y:2021:i:5:p:84-95. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Victor Blaginin (email available below). General contact details of provider: https://edirc.repec.org/data/usueeru.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.