Strategic Entrepreneurship in Taiwan’s Food and Catering Industries: The Case of 85 °C Café Shop

Fu-Lai Tony Yu and Ming-Wen Hu

Global Business Review, 2015, vol. 16, issue 5, 891-902

Abstract: This article presents a theory of strategic entrepreneurship for Taiwan’s food catering industries based on the contributions of Austrian economists. It argues that the most significant feature of Taiwanese entrepreneurs is their ability to look for profit opportunities. After identifying a profit opportunity, they surf on the waves of the growing market. They are quick to respond to the rapidly changing environment. Some small firms in Taiwan may not conduct long-range planning. As long as they discover a profit opportunity that others have not yet noticed, they will enter the market and exploit profit margins. Though not as innovative as Henry Ford or Bill Gates who revolutionized automotive industries and information technology industry, respectively, and drastically changed the everyday lives of the world economy, Taiwanese entrepreneurs are excellent adopters of technology. They are able to add some new attributes to the product so that the product differs slightly from the original one and fits into the unserved market. Furthermore, Taiwanese entrepreneurs utilize social network extensively. By using business network and personal relationship, they operate in nexus and hunt in packs in the market. Through social network, they support each other and create a ‘win–win’ situation for each other. This article concludes that the unique entrepreneurial strategies allow Taiwanese businesses to compete in global markets. The argument developed in this article is applied to understand the business success of the 85°C Café in Taiwan, a shop which is known as ‘Starbucks of Taiwan’.

Keywords: Strategic entrepreneurship; Taiwan; 85°C Café Shop; food and catering industries; Austrian economics (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:sae:globus:v:16:y:2015:i:5:p:891-902

DOI: 10.1177/0972150915591656

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