Entrepreneurship, Innovation and Economic Crisis; Lessons for Research, Policy and Practice - 2014

Page 15

Chapter 1

Entrepreneurship and Innovation in a Context of Crisis Marta Peris-Ortiz, Vicenta Fuster-Estruch, and Carlos Devece-Carañana

Abstract There is no consensus in the literature on the effects of an economic crisis on entrepreneurial activity. Some authors consider that situations of weak growth, recession, or stagnation may favor discovery of opportunities and innovation; whereas others claim that economic slowdowns have a negative effect on entrepreneurial attitude, reducing discovery of opportunities and investment in innovation. This chapter, by relating entrepreneurs with their experience, specific business management skills and knowledge, their innovation practices, attitude, and perception of opportunities, postulates that entrepreneurs with these characteristics and practices, embodying entrepreneurship in the fullest sense, will maintain an entrepreneurial attitude in situations of economic crisis. The study is based on Global Entrepreneurship Monitor data which show a positive, significant relationship between this type of entrepreneur and entrepreneurial performance during the economic crisis.

1.1

Introduction

Based on data from the Global Entrepreneurship Monitor (GEM) 2009, obtained in a context of economic crisis in Spain, this research seeks to establish whether entrepreneurs, that are characterized by the recognition of opportunities and innovation initiatives, maintain an attitude of entrepreneurial orientation in a situation of stagnation or weak growth of the economy. There is no consensus in the literature on the effects of the economic crisis on entrepreneurial activities. For some authors such as Filippetti and Archibugi (2010) situations of weak growth, recession, or stagnation of GDP may promote discovery M. Peris-Ortiz (*) • V. Fuster-Estruch • C. Devece-Carañana Departamento de Organización de Empresas, Universitat Politècnica de València Camino de Vera s/n, Valencia 46008, Spain e-mail: mperis@doe.upv.es; vfuster@doe.upv.es; cdevece@upvnet.upv.es K. Rüdiger et al. (eds.), Entrepreneurship, Innovation and Economic Crisis: Lessons for Research, Policy and Practice, DOI 10.1007/978-3-319-02384-7_1, © Springer International Publishing Switzerland 2014

1


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Articles inside

Index

21min
pages 177-186

Further Insights into the Innovating Entrepreneur’s Toolkit

22min
pages 167-176

and Customer Loyalty in Spanish Financial Institutions

25min
pages 127-138

R&D Activities? An Analysis of Spanish Companies

16min
pages 159-166

16 Profi le of Young Entrepreneurs in Spain in Times of Recession

18min
pages 149-158

from Self-Employed Accountants in Germany Robert Rieg

20min
pages 117-126

of Crisis: Some Relevant Factors in the Case of Family Firms

21min
pages 107-116

Successful Projects in this Current Crisis Period

20min
pages 139-148

Business Development Possibilities in Times of Crisis

21min
pages 97-106

An Empirical Study Valeriano Sanchez-Famoso and Amaia Maseda

17min
pages 77-84

and Crisis: “How Small and Mid- Sized Enterprises React”

25min
pages 85-96

in the Service Provider María-Ángeles Revilla-Camacho, Francisco-José Cossío-Silva, and Manuela Vega-Vázquez

12min
pages 69-76

The Case of Spain Lidia García-Zambrano, Arturo Rodríguez-Castellanos, and Jose Domingo García-Merino

19min
pages 59-68

and Sport Sectors Alicia Blanco-González, Francisco Díez-Martín, Ana Cruz-Suarez, and Alberto Prado-Román

19min
pages 49-58

Economic Crisis Marta Peris-Ortiz, Francisco de Borja Trujillo-Ruiz, and Jose Luis Hervás-Oliver

17min
pages 41-48

Innovation in B-to-B Markets Through Co-creation

20min
pages 31-40

Orientation of Spanish Exporting SMEs in Time of Crisis

18min
pages 21-30

A Conceptual Approach to the Dilemma of R&D Integration

6min
pages 18-20

In Times of Economic Crisis: Innovation With, or Without

2min
page 17

Entrepreneurship and Credit Rationing: How to Screen

3min
pages 15-16

Entrepreneurial Risk Without Return? Empirical Evidence

1min
page 13

Entrepreneurial Orientation and Innovation in a Context

1min
page 12

Youth Entrepreneurship and Crisis in the Health, Beauty

1min
page 6

Business Start-ups and Innovation: The Effect of the 2008

1min
page 5

The Role of Social Capital in Family Firms to Explain

0
page 9

Proactive Management of Core Competencies, Innovation and Business Performance in a Period of Crisis:

2min
page 7

Seeking a Sustainable Competitive Advantage in Periods of Economic Recession for SMEs and Entrepreneurs: The Role of Value Co-creation and Customer Trust

2min
page 8

Innovation Through Total Quality Management Elements

1min
page 14
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