MANAGING INNOVATION IN ENTREPRENEURSHIP

Siddhi Shirke

Risk Management Practices and Firm.

The numerous studies have tested the direct relationship between Enterprises Risk Management (ERM) and firms’ performance in both developed and emerging economies. However, how ERM practices contribute to the financial, nonfinancial and environmental performance of financial institutions has been rarely discussed. In particular, the mediating
role of BMI between ERM and firms’ performance has mostly remained unanswered. The present study thus considered the mediating role of Business Model Innovation (BMI) between ERM practices and an enterprise’s environmental, financial and nonfinancial performance in an emerging market.
(Jordan 2021)

Innovations in the Management of E-Commerce

The investigation of the interactions of selected e-commerce entities provides opportunities for future comprehensive quantitative research. The e-commerce market has passed a stress test of unprecedented proportions. Almost overnight, this market had to replace the entire supply of traditional stores, which were forced to close their operations.
At the end of this study, it can be stated that through the analysis of the data of the interactions of customer groups in a highly non-standard situation, it was possible to outline specific patterns of consumer behaviour, thereby creating a qualitative knowledge base for further research into the impact of the COVID-19 pandemic on national and international economies, for both economics and management sciences.
[Pollak, F., Malinak, B., Markovic, P., & Vilagi, R. (2021). ]

Effects of the COVID-19

Sports entrepreneurship has been considered an important part of sports organisations when overcoming crisis situations. The aim of this study is to determine the impact of the crisis derived from COVID-19 on sports entrepreneurship and whether there are differences in the prediction of entrepreneurship on service quality in non-profit sports clubs. The results of our study show a change in SE in the non-profit sports clubs analysed, after the crisis generated by COVID-19. Risk-taking and innovation, two of the three dimensions of sports entrepreneurship (SE), were shown to increase significantly in sports clubs in times of crisis. This outcome may be logical, as organisations are forced to develop strategies and make decisions to maintain contact and service provision with their users, sportsmen and sportswomen during time of crisis. In contrast, proactivity does not increase significantly during such times. However, the data should be treated with caution, as the type of organisation and the sector of membership impact how an organisation acts in situations of uncertainty and hostility.
[Escamilla-Fajardo, P., Calabuig-Moreno, F., & Gómez-Tafalla, A.,M. (2020]

Learning in the development of entrepreneurs

This study set out to examine how WIL may influence the development of entrepreneurs. It also demonstrates the value of combining data from interviews and rich pictures. While this was a small sample, there were common themes found between the participants. The alumni that were interviewed stated that WIL programs provided them with mentorship, a positive outlook on their future, and fostered their confidence and entrepreneurial spirit. Both positive and seemingly negative experiences of WIL had been valuable. The experience of having a supportive mentor, either in the university or as a supervisor in the workplace was recognised as being an influence in encouraging entrepreneurialism.
[Pretti, T. J., Parrott, P., Hoskyn, K., Fannon, A., Church, D., & Arsenault, C. (2020).]

Benefit From Personal Finance Management

International Journal of Work-Integrated Learning, Special Issue, 2020, 21(4), 451-466
The study PERSONAL FINANCE MANAGEMENT APPLICATIONS DURING THE COVID-19 PANDEMIC showed that men and those in the 26–35 age group most often used home budget management applications during the pandemic and self-isolation. Women noticed flaws in budget management applications more often and were less likely to recommend an application to their friends. Men were more often of the opinion that the application they used helped them manage their finances during self-isolation, quarantine and remote work. There was no single relationship in the study group between evaluation of applications and age. Most of the people who use applications have higher education. People who use applications have higher education.
[Waliszewski, K., & Warchlewska, A. (2021).]

Technology Transfer for Social Entrepreneurship

Technology Transfer for Social Entrepreneurship explored the relationship between technology transfer processes for social entrepreneurship and the different characteristics of problem-oriented innovation ecosystems. Drawing from two embryonic experiences in the Italian context, and one established French experience, it provide a better understanding of the features of the ecosystems that make them conducive to the technology transfer processes of social enterprises.
the embryonic stage of the two Italian cases of innovation ecosystems, which are designing technology transfer processes for social entrepreneurship, allowed us to conduct only a preliminary study on the topic, which provides a first grounding for theory development on the relationship between innovation ecosystems and technology transfer for social entrepreneurship, thus paving the way for a novel avenue of research.
[Chiodo, V., & Bengo, I. (2021).]

Rapid crowd sourced innovation for COVID-19

The interdisciplinary collaborations and empower a new population to tackle problems that the ever-changing world brings. These events teach individuals problem solving skills, entrepreneurship, collaborative teamwork, and communication skills while creating new communities of entrepreneurs with novel solutions and potential ventures. There is great need to not only continue to implement these types of programs but to develop more robust research
methodologies to assess and optimize the role and effectiveness of grassroots innovation within the greater context of healthcare innovation. The world has a shared interest in overcoming this pandemic and its downstream effects, and everyone should be given the opportunity to play an active role.
[Ramadi, K. B., & Nguyen, F. T. (2021)]

Social entrepreneurship innovation

The importance of social entrepreneurship goes farther than simply a charity organization. Santos (2012) states that, ‘SE is an innovation process in the economy that can happen in different institutional contexts, is based on value creation, and operates by its own rules and logic. It is an approach that seems well suited to address some of the most pressing problems in modern society and improve capitalism’ (p. 350). The impact of social enterprises in economy is difficult to measure in this moment because the category is not well defined in an economic classification, but as Harding (2004) proposes, this kind of organizations could be the basis of a new economy, especially in turbulent times. The aim of this study is to investigate the personal and skills characteristics of SEs. Regarding personal characteristics, our study proposes that there is a relationship between autonomy and creativity of the entrepreneur.
[Carranza,María Teresa de la Garza, Guzmán-Soria, E., López-Lemus, J. A., & Martínez, A.,Cristina Sierra. (2020).]

Open Innovation Dynamics

The culture for open innovation dynamics through a comprehensive literature review on the culture traits in firms, firm-level culture, static open innovation culture, and the dynamic aspects of firm culture in diverse entrepreneurship. Culture for open innovation dynamics is the result of interactions among entrepreneurship, intrapreneurship, and organizational entrepreneurship.
First, because this concept model was developed from well-accumulated dynamic culture aspects of diverse entrepreneurship, there is no need to also define culture for open innovation dynamics.
Second, the concept model of culture for open innovation dynamics can be applied to open innovation micro-and macro-dynamics together.
Third, according to the differences between the three types of entrepreneurship, diverse conditions
of culture for open innovation dynamics can be motivated according to the situation of firms.
[JinHyo, J. Y., Zhao, X., Jung, K., & Yigitcanlar, T. (2020).]

Innovation policies

The authors recognize the study has some limitations, which opens up opportunities for future developments. This research is exploratory in nature, and the data analysis techniques used, i.e., cluster analyses and ANOVA can only provide differences between groups and moments of time, but they cannot be used to establish causal relationships. Further research can be focused on exploring in a more robust way the path-dependency between innovation policy strategies
during normal times and during emergency situations.

REFERENCE:

Carranza,María Teresa de la Garza, Guzmán-Soria, E., López-Lemus, J. A., & Martínez, A.,Cristina Sierra. (2020). Social entrepreneurship innovation: A study from mexico. Entrepreneurial Business and Economics Review, 8(4), 201-220. doi:http://dx.doi.org/10.15678/EBER.2020.080411

Chiodo, V., & Bengo, I. (2021). Technology transfer for social entrepreneurship: Designing problem-oriented innovation ecosystems. Sustainability, 13(1), 20. doi:http://dx.doi.org/10.3390/su13010020

Escamilla-Fajardo, P., Calabuig-Moreno, F., & Gómez-Tafalla, A.,M. (2020). Effects of the COVID-19 pandemic on sports entrepreneurship. Sustainability, 12(20), 8493. doi:http://dx.doi.org/10.3390/su12208493

JinHyo, J. Y., Zhao, X., Jung, K., & Yigitcanlar, T. (2020). The culture for open innovation dynamics. Sustainability, 12(12), 5076. doi:http://dx.doi.org/10.3390/su12125076

Patrucco, A. S., Trabucchi, D., Frattini, F., & Lynch, J. (2021). The impact of covid-19 on innovation policies promoting open innovation. R&D Management, doi:http://dx.doi.org/10.1111/radm.12495

Pollak, F., Malinak, B., Markovic, P., & Vilagi, R. (2021). Innovations in the management of E-commerce entities operating on the slovak market – analysis of customer interactions during the COVID-19 pandemic. Les Ulis: EDP Sciences. doi:http://dx.doi.org/10.1051/shsconf/20219001016

Pretti, T. J., Parrott, P., Hoskyn, K., Fannon, A., Church, D., & Arsenault, C. (2020). The role of work-integrated learning in the development of entrepreneurs. International Journal of Work – Integrated Learning, 21(4), 451-466. Retrieved from https://www.proquest.com/scholarly-journals/role-work-integrated-learning-development/docview/2526359626/se-2?accountid=141537

Ramadi, K. B., & Nguyen, F. T. (2021). Rapid crowdsourced innovation for COVID-19 response and economic growth. NPJ Digital Medicine, 4(1) doi:http://dx.doi.org/10.1038/s41746-021-00397-5

Risk management practices and firm performance with a mediating role of business model innovation. observations from jordan. (2021). Journal of Risk and Financial Management, 14(3), 113. doi:http://dx.doi.org/10.3390/jrfm14030113

Waliszewski, K., & Warchlewska, A. (2021). How we can benefit from personal finance management applications during the COVID-19 pandemic? the polish case. Entrepreneurship and Sustainability Issues, 8(4), 103-121. doi:http://dx.doi.org/10.9770/jesi.2021.8.4(6)