Serial entrepreneurs’ strategies for innovative business: A typology and assessment

Pavel L. Glukhikh and Alla N. Golovina
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Pavel L. Glukhikh: Institute of Economics of the Ural Branch of the RAS, Ekaterinburg, Russia
Alla N. Golovina: Ural State University of Economics, Ekaterinburg, Russia

Upravlenets, 2021, vol. 12, issue 5, 84-95

Abstract: In the context of uncertainty, the problem of insufficient economic involvement of the Russian population is becoming increasingly acute, and it should be resolved to stimulate the country’s technological development. At the same time, the state administration ignores the significant potential of serial entrepreneurs in setting up new companies. The paper assesses the strategies followed by serial entrepreneurs when creating innovative business and develops their typology. The theories of entrepreneurship and strategic management, as well as the concept of serial entrepreneurship constitute the methodological basis of the study. Among the research methods are retrospective, case and indicative analysis. The information base includes the data retrieved from the SPARK database on the activities of Russian technology entrepreneurs included in the TechUspekh-2019 ranking. The article provides a comprehensive definition of serial technology entrepreneurship embracing its two varieties – sequential and parallel entrepreneurship. Based on retrospective analysis, the authors formulate their own typology of strategies for setting up innovative companies by serial entrepreneurs: cross-sectoral non-technological and sectoral technological diversification, sectoral and cross-sectoral search (accumulation). We highlight the importance of establishing subsequent businesses and propose a set of methods for assessing the effectiveness of the strategies. The research results indicate that the strategy “From technological services to production” proves to be the most effective and beneficial in term of cumulative performance. The study empirically tests the assumption about high performance of serial technology entrepreneurs and provides the outcomes achieved by public authorities when introducing the developed recommendations to stimulate positive serial entrepreneurial behaviour.

Keywords: serial entrepreneurship; innovative business; effectiveness; company strategy; a firm start; serial entrepreneurial behaviour; technology entrepreneurship (search for similar items in EconPapers)
JEL-codes: L25 L26 M13 (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:url:upravl:v:12:y:2021:i:5:p:84-95

DOI: 10.29141/2218-5003-2021-12-5-6

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