In pursuit of impact: From research questions to problem formulation in entrepreneurship research
Entrepreneurship Theory and Practice (2022)
Abstract: In this paper, we address recent calls to increase the societal relevance of entrepreneurship research. We explore how entrepreneurship researchers and practitioners work together in the formulation of a research problem for impact. Leveraging process-tracing, we analyzed six entrepreneurship research projects, from early conceptualization to publication, all part of the Journal of Business Venturing Insights’ Entrepreneurship Rapid Response Research Initiative. We made two discoveries, as it pertains to the formulation of problems in entrepreneurship research. First, we found four critical change dimensions, along which a problem evolves throughout the research process: worthiness, divisibility, centrality, and specificity. Second, we found two equifinal problem formulation pathways in impact-oriented entrepreneurship research: inward-looking iterative and outward-looking joint problem formulation. These are marked by drivers of the research project; timing of involvement of the practitioner; and interactions between researchers and practitioners; which influence the sequence of the four change dimensions in the problem formulation. Our study contributes by theorizing problem formulation as a process, not a point in time, and hence intertwined with solutions, making the process consequential. We also offer concrete implications for entrepreneurship scholars wanting to engage in research that impacts practice.
The Valorising Pitch: How Digital Start-ups Leverage Intermediary Coverage
Journal of Management Studies (2022)
Abstract: As an unknown quantity, new ventures rely on influential intermediaries to endorse them. However, in some areas, like digital entrepreneurship, there is fierce competition for intermediary attention. Failing to garner intermediary support can mean ventures lack the resources needed to prosper. Still, it is unclear how they attract coverage, how intermediaries evaluate those vying for attention, and what influence this has on venture development. We conducted qualitative inductive research on how digital ventures sought coverage from industry analysts. Our process model of intermediary evaluation shows how ventures must perform a ‘valorising pitch’ to move from being an unknown quantity to engaging the intermediary to being valorised. Drawing on valuation studies scholarship, we propose an enhanced model of intermediary evaluation that depicts industry analysts as not just identifying but also ‘creating’ the value of ventures. We offer contributions to the literature on new venture development, intermediaries and digital entrepreneurship.
Beyond profit vs. purpose: Transactional-relational practices in impact investing
Journal of Business Venturing Insights (2020)
Abstract: The emergence of impact investing over the past decade has been accompanied by increased interest in impact measurement to understand both social and financial returns. One of the constantly re-occurring themes in the research on impact measurement is the tension between financial return and social/environmental mission. However, we challenge this binary view by addressing the following questions: is the profit/purpose trade-off dilemma an immutable feature of impact investing? And, if so, how are investor-investee relationships negotiated through those tensions to keep the impact measurement process flowing productively? Using an exploratory multi-round Delphi Method study (15 panellists) and 22 semi-structured interviews, we discover a new set of impact measurement practices, which are relational and non-transactional in nature. These two levels of engagement, the transactional and the relational, occur in sequence and reinforce each other, ultimately creating both instrumental and intrinsic value. In the end, we propose the Transactional-Relational Spiral model and encourage further research and validation.
Chapter 27 in E. De Morais Sarmento & R. Herman, 2020, Global Handbook of Impact Investing: Solving Global Problems Via Smarter Capital Markets Towards A More Sustainable Society (1st ed.). Wiley.
Abstract: If the university of the nineteenth century was governed primarily by a teaching and education mission and that of the twentieth century by a research mission, the university of the twenty-first century will be driven by a prosocial engagement mission in which Impact Investing could be the accelerator of this epic transformation. Universities are increasingly being required to be more socially and environmentally responsible in creating a sustainable and resilient society, in the context of the triple bottom line, United Nations Sustainable Development Goals (SDGs), and Net-Zero. This chapter reviews the changing nature of the contemporary university, in which the tension between rigor and relevance is increasingly being resolved in favor of relevance as engaged scholarship, evidence-based research, and practitioner-led Mode 2–type research become more prominent. Using the “Entrepreneurial University” as a framing construct, we explore the emerging role and potential of the university in building capacity for Impact Investing through both its teaching and research functions and, in particular, through the demonstration effect of its activity as an impact investor itself. Drawing on a series of mini-case studies and organizational vignettes, both the great potential of and certain limitations to the Entrepreneurial University is recognized across multiple aspects of Impact Investing, which is seen as an extension to its role in supporting regional economic growth, social responsibility, and sustainable development.
From Bop, For Bop: China’s “Power Solution”
SAGE Business Cases (2020)
Abstract: A young Chinese woman with a bottom-of-the-pyramid (BOP) background has developed a small company that delivers solar lighting solutions to a social enterprise for BOP consumers in off-grid regions worldwide. Under the leadership of Li Xia (founder and CEO), Power-Solution has exported products to 63 countries and benefited over 3 million households in Africa. Power-Solution currently stands at a critical point in its transformation from an original equipment manufacturer (OEM) to a brand owner that fights global poverty with diversified Pay as You Go (PAYGO) products and services. Li must decide the next stage of the company, whether she can follow her social ambitions while sustaining financial viability.
Scottish bakery visited by the Royal: How a social enterprise fulfills its mission and maximizes social impact
SAGE Business Cases (2020)
Abstract: Founded in July 2011, Breadshare is a social enterprise (i.e., a hybrid form of traditional business and charity) based in Edinburgh whose mission is to make “Real Bread for Everyone.” The community bakery, which crafts artisan organic bread, has experienced highs and lows in its development, and currently enjoys annual revenue of approximately £300,000. One dilemma Breadshare faces is how to strike a balance between profit and purpose – how to apply social objectives while establishing commercial collaboration?
Positive Prison for Positive Future: How to lead a social enterprise and promote social innovation
SAGE Business Cases (2020)
Abstract: Once an accomplished architect, Peter White was sentenced to prison for embezzlement. There he became a library manager and attended yoga and meditation courses. He could not return to his former profession due to his criminal record, so he transformed his experience in prison to establish Positive Prison in Glasgow, UK, which draws upon the lived experiences of people who are or have been imprisoned. Its mission is to recognize the benefit the experiences of people with convictions can bring to building safer communities. One contribution was a change to the Friday Release, which helped reduce the re-offence rate. Peter is now at a crossroad on how to take the organization to the next level.
Conference Presentations (selected)
ACERE (Australian Centre for Entrepreneurship Research Exchange), Sydney, Feb 2024. “The Unkindest Cut? Glass Scissors and Women’s Career Progression in Entrepreneurial Finance”
Academy of Management Learning and Education PDW, Reykjavík, May 2023. “From ancient China to the modern classroom: Transforming business and management education with Daoist wisdom”
Journal of Management Studies Conference, Cambridge, Sep 2022. “In pursuit of impact: From research questions to problem formulation in management research”
BAM (British Academy of Management) Conference, Manchester, Aug 2022. “Co-scaling social innovation: A framework for the impact investment market”
AOM (Academy of Management) Conference, Seattle, Aug 2022. “In pursuit of impact: From research questions to problem formulation in entrepreneurship research”
EGOS (European Group for Organizational Studies), Online, Jul 2021. “Effective strategies to promote the teaching of history in business schools: Lessons from the practical history of financial markets course”
AOM (Academy of Management) Conference, Online, Aug 2020. “Why intermediary evaluation matters for nascent venture development and survival”
EGOS (European Group for Organizational Studies), Edinburgh, Jul 2019. “Disentangle the double dilemma of social enterprise: From intra-organization routine adaptation to cross-organisation routine transfer to multi-organisation network creation”
Babson College Entrepreneurship Research Conference, Boston, Jun 2019. “Impact investment as an entrepreneurial process: Linking measurement to value creation”