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The IUP Journal of Entrepreneurship Developement


June' 06
Articles

What Motivates Entrepreneurs and Can their Motivation be Influenced?

-- Peter Grenholm,
Anders Hansen,
Anders Sahlman and Nikolaos Volakakis

The different factors that determine an individual's motivation to become an entrepreneur have been briefly examined in this paper. Entrepreneurs seem to have a common pattern of personality traits; but it is the environment that plays the instructive role in the decision to engage oneself in entrepreneurial activities. Various parameters of the current European social and business environments have been identified as potential modifiers (activators or inhibitors) of the motivation of entrepreneurs.

The Entrepreneurial Ethic of the Sikhs: Religious Signaling and the Importance of Social Capital for Trust and Exchange

-- Nathaniel D Paxson

This paper employs the rational choice and institutional economic theorizing to the understanding of sectarian groups, in particular, the Sikh religion of Northern India. The Sikh religion exhibits many striking characteristics for an interesting case study to showcase the importance of religious institutions, sectarian practices, reputation and self-enforcement mechanisms, signaling entrepreneurship, collective production and transactions costs. Religious affiliation provides goods to sect members which can be modeled economically as club goods. Religion can also be understood as setting forth institutional structures which foster incentives and channel behavior in various predictable ways. This paper explores how particular sect practices generate formal and informal norms that positively affect trade with non sectarian members. Also, the concept of social capital is explored as a means of explaining trust, reciprocity, and internalized norms.

Critical Issues of Starting Entrepreneurship in Kazakhstan

--Kamrul Ahsan and Patrick Low Kim Cheng

Initiating and implementing an entrepreneurship start-up is a complex decision-making process, where many opportunities and risks need to be analyzed. To help entrepreneurs grow, policymakers should provide a favorable environment that facilitates business rather than creating obstacles. The article investigates the current entrepreneurship barriers in Kazakhstan, identifies the critical factors faced by entrepreneurs, and recommends some suggestions having policy implications. The researchers use a system approach known as the "Thinking Process" to identify the critical factors that hinder entrepreneurship, and determine the causal relationships between these factors. These relationships will help policymakers to create a better environment for starting entrepreneurship in Kazakhstan.

Social Wealth Creation via Experimental Entrepreneurial Philanthropy

-- Ian C MacMillan

Governments and philanthropists in the United States of America and other rich nations, spend billions of dollars each year supporting philanthropic causes that attend to the manifold social problems of the world. Some of their effortsperhaps, on the order of hundreds of millions of dollars each yeargo toward supporting start-up firms and small entrepreneurial businesses, a strategy linked to the belief that the creation and growth of new enterprises fuel the growth of the economy, particularly through employment. Till date, however, few people have considered the role that entrepreneurial activities can play beyond improving employment. Based on the research, the author contends that such activities can directly confront social problems and create new societal wealth.

Philip F Anschutz: Entrepreneur with a "Contrarian Strategy"

-- T Phani Madhav and S Pampana

Philip F Anschutz, one of the richest American businessmen acquired stakes in more than 100 underperforming businesses and successfully restructured them into profitable entities. He built one of the largest theatre chains in the US, the Regal Entertainment Group, and also flourished in the telecommunications business through Qwest. Anschutz's flair for betting on underperforming businesses had earned him the recognition as an entrepreneur with a "contrarian strategy". However, Anschutz faced setbacks when an accounting scandal forced him to quit from the post of the non-executive chairman in Qwest. s opined that his latest venture into newspaper business was also a challenge, considering the strong competition from The Washington Post. The case, while detailing the strategies followed by Anschutz to become one of America's richest and successful entrepreneurs, provides a scope for analyzing Anschutz's `contrarian strategy'.

Entrepreneurship as a Non-profit Seeking Activity

Entrepreneurial pursuit is not for mere profits. It is also governed by possibilities of greater autonomy, creative utilization of skills and ideas.

Book Review

We Got Fired! ...And It's the Best Thing That Ever Happened to Us

-- Harvey Mackey

The author has sought to provide real-life instances and accounts of individuals from different walks of life who have made a success of their professional lives after getting fired from the job. This book gives an account of the lives of the protagonists, interspersed with some short clippings on related instances from other famous lives.

Global Executive Summaries
  • An Empirical Study of the Transition from Paid Work to Self-employment
    Full Text: http://www.iese.edu

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Automated Teller Machines (ATMs): The Changing Face of Banking in India

Bank Management
Information and communication technology has changed the way in which banks provide services to its customers. These days the customers are able to perform their routine banking transactions without even entering the bank premises. ATM is one such development in recent years, which provides remote banking services all over the world, including India. This paper analyzes the development of this self-service banking in India based on the secondary data.

The Information and Communication Technology (ICT) is playing a very important role in the progress and advancement in almost all walks of life. The deregulated environment has provided an opportunity to restructure the means and methods of delivery of services in many areas, including the banking sector. The ICT has been a focused issue in the past two decades in Indian banking. In fact, ICTs are enabling the banks to change the way in which they are functioning. Improved customer service has become very important for the very survival and growth of banking sector in the reforms era. The technological advancements, deregulations, and intense competition due to the entry of private sector and foreign banks have altered the face of banking from one of mere intermediation to one of provider of quick, efficient and customer-friendly services. With the introduction and adoption of ICT in the banking sector, the customers are fast moving away from the traditional branch banking system to the convenient and comfort of virtual banking. The most important virtual banking services are phone banking, mobile banking, Internet banking and ATM banking. These electronic channels have enhanced the delivery of banking services accurately and efficiently to the customers. The ATMs are an important part of a bank’s alternative channel to reach the customers, to showcase products and services and to create brand awareness. This is reflected in the increase in the number of ATMs all over the world. ATM is one of the most widely used remote banking services all over the world, including India. This paper analyzes the growth of ATMs of different bank groups in India.
International Scenario

If ATMs are largely available over geographically dispersed areas, the benefit from using an ATM will increase as customers will be able to access their bank accounts from any geographic location. This would imply that the value of an ATM network increases with the number of available ATM locations, and the value of a bank network to a customer will be determined in part by the final network size of the banking system. The statistical information on the growth of branches and ATM network in select countries.

Indian Scenario

The financial services industry in India has witnessed a phenomenal growth, diversification and specialization since the initiation of financial sector reforms in 1991. Greater customer orientation is the only way to retain customer loyalty and withstand competition in the liberalized world. In a market-driven strategy of development, customer preference is of paramount importance in any economy. Gone are the days when customers used to come to the doorsteps of banks. Now the banks are required to chase the customers; only those banks which are customercentric and extremely focused on the needs of their clients can succeed in their business today.

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