ICFBE 2018: Special Issue on: "Strategic Entrepreneurship in a VUCA Environment: Asian Emerging Economies Perspective"
Prof. Pek-Hooi Soh, Simon Fraser University, Canada
Prof. Chen Jin, Tsinghua University, China
Dr. Dwi Larso and Dr. (Candidate) Adhi Setyo Santoso, President University, Indonesia
Much of what we do and how we live in the new millennium is increasingly empowered by a global phenomenon called the Internet of Things (IoT). Not only has IoT brought significant improvements to our society, but it also has caused much disruption to established businesses across sectors from retailing and entertainment to transportation and healthcare. Incumbent firms have underestimated the transformative power of the disruptive innovations enabled by IoT and the rate at which new methods, new products and new businesses are created by new entrants (Brynjolfsson & McAfee, 2014; Christensen, 1997). Both incumbents and new entrants are facing a VUCA (volatility, uncertainty, complexity, ambiguity) environment ruffled by Schumpeter’s gale of creative destruction. While the phenomenon has become commonplace in many developed economies, very little is known about how businesses in emerging economies have responded to the threats and opportunities of disruptive innovations.
Entrepreneurship literature has informed us about entrepreneurial strategies through manifesting opportunity-seeking and advantage-seeking behaviours simultaneously to achieve superior firm performance (Ireland et al, 2003). These entrepreneurial behaviours are often addressed as an approach for the disruptors to create successful disruptive innovations (Ansari et al., 2016; Carayannopoulos, 2009; Burgelman & Grove, 2007) and for the incumbents to respond to or engage with the disruptors (Kim & Min, 2017; Roy et al., 2017; Osiyevskyy & Dewald, 2015). Furthermore, strategic entrepreneurship topics have focused on how entrepreneurial leaders deal with volatility (Casson & Wadeson, 2007), uncertainty (Andries et al., 2013), complexity (Godley, 2013) and ambiguity (Mauer et al., 2017) in mostly Western economies. Despite the growing body of research on entrepreneurship, few studies have questioned whether existing theories of entrepreneurial development can similarly explain the disruptive phenomenon in emerging Asian economies (Begley & Tan, 2001).
Many countries in Asia – in particular Indonesia, Malaysia, Thailand, the Philippines and Vietnam – are categorised as emerging markets because they are low-income but rapid-growth economies using economic liberalisation as their primary growth engine (Bruton et al., 2013; Kvint, 2009; Hoskisson et al., 2000). In management research, emerging economies are often correlated with VUCA (Pandit et al., 2017; Sengupta et al., 2017; Leavy, 2014). The importance of developing indigenous entrepreneurship and innovation theories in some emerging economy contexts (e.g. China and India) has been suggested and discussed in previous studies (Bruton et al., 2017; Chen & Lyu, 2017; Prabhu & Jain, 2015; Vinig & Bossink, 2015; Soh & Yu, 2010). Each emerging market in Asia has a unique history, culture and institutional environment that shapes the nature, scope, manifestation and outcomes of entrepreneurship differently. Some entrepreneurial experiences in Southeast Asian contexts have been shown through anthropological fieldwork to have significant social, cultural and economic differences from those in Western economies (Bråten, 2013). For example, media attention influences entrepreneurial intention in Southeast Asian countries but not in European countries (Tripopsakul, 2016). On the other hand, fear of failure influences entrepreneurial intention in European countries but not in Southeast Asian countries (Tripopsakul, 2016). In Indonesia, unlike the U.S., trust does not promote entrepreneurship (Sohn and Kwon, 2016). In Thailand, the cost of bankruptcy that reaches 36% of the firm’s value asset is much higher than that in Western countries such as Norway (1%) and the U.S. (7%). This situation may discourage entrepreneurs from starting their business and may also delay unsustainable ventures in filing for bankruptcies (Peng et al., 2010). Furthermore, many entrepreneurship studies in these emerging economies often deal with poverty alleviation (Halim et al., 2017; Adnan et al., 2016; Morrison et al., 2006) that is less relevant in developed economies.
The objective of this special issue is therefore to address and extend an Asian-centric perspective on strategic entrepreneurship in emerging markets. We seek to understand the antecedents and consequences of entrepreneurial activities in VUCA environments characterised by contextual differences across Asian emerging economies. It is hoped that through an Asian-centric perspective, researchers can identify new boundary conditions or nuances that relate to existing theories and practice of entrepreneurship. We therefore invite conceptual, theoretical or empirical studies which address research questions related to entrepreneurial development in Asian emerging economies. Several broad possible research questions that may be addressed in this special issue include the following:
- Behavioural Characteristics of Entrepreneurial Activity. What are the impacts of history, culture and institution on entrepreneurial behaviours and actions in the VUCA environment? Do entrepreneurial behaviours in this context differ from existing theories such as effectuation and bricolage?
- Innovation and Technology. What is the innovation process in Asian emerging economies and how does it impact the incentives to create new ventures? What is the role of technology for entrepreneurial firms in the low-labour cost situation?
- Risk and Uncertainty. How does risk calculation differ in the VUCA environment? What is the impact of the high-uncertainty era on entrepreneurial firm capabilities in this context?
- How do incumbents change and adopt new business models in the VUCA environment? How do they manage competing business models in this context?
- Family Business Landscape. How does the family business system contribute to (or impede) innovation in the VUCA environment? How do family firms maintain the entrepreneurial spirit of the founder in this context?
- Social Role of Entrepreneurship. How do entrepreneurial firms contribute to poverty alleviation in the VUCA environment? How are social innovations developed? How does the social role of entrepreneurship differ across Asian emerging economies?
- Female Entrepreneurship. How do female entrepreneurs conduct the entrepreneurial process in the VUCA environment? What is the influence of gender on business models in start-ups?
The issue will carry revised and substantially extended versions of selected best papers presented at ICFBE 2018. To participate in that conference, the authors may register through ICFBE 2018 website (http://icfbe.net)
Adnan, A. H. M., Jaafar, R. E., Nasir, Z. A., & Mohtar, N. M. (2016). 'Just sisters doing business between us': gender, social entrepreneurship and entrepreneurial resilience in rural Malaysia. International Journal of Entrepreneurship and Small Business, 27(2-3), 273-288.
Andries, P., Debackere, K., & Looy, B. (2013). Simultaneous experimentation as a learning strategy: Business model development under uncertainty. Strategic Entrepreneurship Journal, 7(4), 288-310.
Ansari, S. S., Garud, R., & Kumaraswamy, A. (2016). The disruptor's dilemma: TiVo and the US television ecosystem. Strategic Management Journal, 37(9), 1829-1853.
Begley, T. M., & Tan, W. L. (2001). The socio-cultural environment for entrepreneurship: A comparison between East Asian and Anglo-Saxon countries. Journal of international business studies, 32(3), 537-553.
Bråten, E. (2013). Embedded Entrepreneurship: Market, Culture, and Micro-business in Insular Southeast Asia. Leiden: Brill.
Bruton, G. D., Zahra, S. A., & Cai, L. (2017). Examining Entrepreneurship Through Indigenous Lenses.
Bruton, G. D., Filatotchev, I., Si, S., & Wright, M. (2013). Entrepreneurship and strategy in emerging economies. Strategic Entrepreneurship Journal, 7(3), 169-180.
Burgelman, R. A., & Grove, A. S. (2007). Cross-boundary disruptors: powerful interindustry entrepreneurial change agents. Strategic Entrepreneurship Journal, 1(3-4), 315-327.
Brynjolfsson, E., & McAfee, A. (2014). The second machine age: Work, progress, and prosperity in a time of brilliant technologies. New York, NY: WW Norton & Company.
Carayannopoulos, S. (2009). How technology-based new firms leverage newness and smallness to commercialize disruptive technologies. Entrepreneurship Theory and Practice, 33(2), 419-438.
Casson, M., & Wadeson, N. (2007). Entrepreneurship and macroeconomic performance. Strategic Entrepreneurship Journal, 1(3-4), 239-262.
Chen, J., & Lyu, R. W. (2017). Innovation in China: The State of Art and Future Perspectives. In Revolution of Innovation Management (pp. 69-103). London: Palgrave Macmillan.
Christensen, C. M. (1997). The Innovator’s Dilemma. Boston, MA: Harvard Business School Press.
Godley, A. C. (2013). Entrepreneurial opportunities, implicit contracts, and economies making for complex consumer goods. Strategic Entrepreneurship Journal, 7(4), 273-287.
Halim, H. A., Ahmad, N. H., & Ramayah, T. (2017). Entrepreneurial readiness towards venture creation among bop community. International Journal of Entrepreneurship, 21(2), 1-12.
Hoskisson, R. E., Eden, L., Lau, C. M., & Wright, M. (2000). Strategy in emerging economies. Academy of management journal, 43(3), 249-267.
Ireland, R. D., Hitt, M. A., & Sirmon, D. G. (2003). A model of strategic entrepreneurship: The construct and its dimensions. Journal of management, 29(6), 963-989.
Kim, S. K., & Min, S. (2015). Business model innovation performance: When does adding a new business model benefit an incumbent?. Strategic Entrepreneurship Journal, 9(1), 34-57.
Kvint, V. (2009). The global emerging economies. New York, NY: Routledge.
Leavy, B. (2014). India: MNC strategies for growth and innovation. Strategy & Leadership, 42(2), 30-39.
Osiyevskyy, O., & Dewald, J. (2015). Explorative versus exploitative business model change: the cognitive antecedents of firm-level responses to disruptive innovation. Strategic Entrepreneurship Journal, 9(1), 58-78.
Mauer, R., Wuebker, R., Schlüter, J., & Brettel, M. (2017). Prediction and control: An agent-based simulation of search processes in the entrepreneurial problem space. Strategic Entrepreneurship Journal, (In Press).
Morrison, P. S., Murray, W. E., & Ngidang, D. (2006). Promoting indigenous entrepreneurship through small-scale contract farming: The poultry sector in Sarawak, Malaysia. Singapore Journal of Tropical Geography, 27(2), 191-206.
Pandit, D., Joshi, M. P., Sahay, A., & Gupta, R. K. (2017). Disruptive innovation and dynamic capabilities in emerging economies: Evidence from the Indian automotive sector. Technological Forecasting and Social Change, (In Press)
Peng, M. W., Yamakawa, Y., & Lee, S. H. (2010). Bankruptcy Laws and Entrepreneur-Friendliness. Entrepreneurship Theory and Practice, 34(3), 517-530.
Prabhu, J., & Jain, S. (2015). Innovation and entrepreneurship in India: Understanding jugaad. Asia Pacific Journal of Management, 32(4), 843-868.
Roy, R., Lampert, C. M. and Stoyneva, I. (2017), When Dinosaurs Fly: The Role of Firm Capabilities in The ‘Avianization’ of Incumbents During Disruptive Technological Change. Strategic Entrepreneurship Journal, (In Press)
Sengupta, S., Sahay, A., & Croce, F. (2017). Conceptualizing social entrepreneurship in the context of emerging economies: an integrative review of past research from BRIICS. International Entrepreneurship and Management Journal, 1-33.
Soh, P. H., & Yu, J. (2010). Institutional environment and complementary assets: Business strategy in China’s 3G development. Asia Pacific Journal of Management, 27(4), 647-675.
Sohn, K., & Kwon, I. (2016). Does trust promote entrepreneurship in a developing country? Singapore Economic Review. doi:10.1142/S0217590816500144.
Tripopsakul, S. (2016). The Comparative Study of Attitudes toward Entrepreneurial Intention between ASEAN and Europe: An Analysis Using GEM Data. World Academy of Science, Engineering and Technology, International Journal of Economics and Management Engineering, 10(1), 2023.
Vinig, T., & Bossink, B. (2015). China’s indigenous innovation approach: the emergence of Chinese innovation theory? Technology Analysis and Strategic Management, 27(6), 621–627.
Suitable topics include, but are not limited, to the following:
- Entrepreneurial mindset
- Entrepreneurial culture
- Entrepreneurial leadership
- Entrepreneurial resource acquisition
- Creativity in entrepreneurship
- High-impact innovation
- Disruptive innovation
- Social innovation
- Risk and uncertainty
- Competitive advantage
- Wealth creation
- Behavioural characteristics of entrepreneurial activity
- Social role of entrepreneurship
- Strategic entrepreneurship in family businesses
- Entrepreneurial opportunities
- VUCA world
- Female entrepreneurship
Notes for Prospective Authors
Submitted papers should not have been previously published nor be currently under consideration for publication elsewhere. (N.B. Conference papers may only be submitted if the paper has been completely re-written and if appropriate written permissions have been obtained from any copyright holders of the original paper).
All papers are refereed through a peer review process.
All papers must be submitted online. To submit a paper, please read our Submitting articles page.
If you have any queries concerning this special issue, please email the Guest Editors:
Dr. (Candidate) Adhi Setyo Santoso: firstname.lastname@example.org
Dr. Dwi Larso: email@example.com
Prof. Pek-Hooi Soh: firstname.lastname@example.org
Prof. Jin Chen: email@example.com
Manuscripts due by: 15 July, 2018
Notice of desk reject if any: 15 August, 2018
Notice of first revisions: 31 October, 2018
First revised manuscript due by: 31 January, 2019
Notice of second revisions: 30 March, 2019
Final version due by: 30 May, 2019
Final editorial decisions: 15 June, 2019