Taking the world heritage site of Hongcun as an example, with the help of enterprise growth theory, in-depth interviews and non participation observation methods are applied to explore the growth path and driving mechanism of heritage site small tourism businesses. The creation, development and withdrawal of small tourism enterprises in Hongcun are a dynamic process. Under the dual factors of entrepreneurial spirit and market demand, community residents managed to make use of their dwellings to achieve identity transformation and place change, and established small tourism businesses. In the course of development, the limitation of heritage protection and the pressure of market competition make the differentiation of the main group of the small tourism enterprises. Small business owners who lack of growth will withdraw from the market by sublease, which will promote the creation of new small enterprises. Small tourism enterprises with growth will achieve enterprise growth through imitating innovation, intergenerational inheritance, chain expansion, cluster management and brand joining. The study found that integration, diversification, follow ups and corporate growth strategies together with the internal succession of family businesses constitute the growth path of small tourism businesses. At the same time, the tourism development factors such as the heritage protection and the market consumption upgrade have driven the circulation of the growth of the small tourism enterprises.
. 旅游小企业成长路径及其驱动机制——以世界文化遗产地宏村为例[J]. 地理研究,
2018, 37(12): 2503-2516.
. The growth path and mechanism of small tourism businesses: Taking world cultural heritage site Hongcun as an example[J]. GEOGRAPHICAL RESEARCH,
2018, 37(12): 2503-2516.
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This paper argues that the relationship between tourism and small business remains terra incognita because much of the existing research is published in diverse sources and fails to explicitly contribute to methodological development in this area. The paper reviews the small business literature as it relates to tourism and highlights the need for a greater tourism focus than currently exists. T...
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The growing interest in community tourism development is paralleled within the European Union by a switch of emphasis away from large automatic grants to attract inward investment projects, towards small firms, and indigenous development. The promotion of small and medium enterprises by the union is on the basis that these firms provide the community underpinnings for entrepreneurship and job creation. Taking the experience of Wales as an example, the full-time equivalent employment out-turns from 216 projects are analyzed to assess job creation performance against targets. On the whole, the small and medium tourism enterprises in question were either in line with or better than their employment targets.
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Using a large sample of firms from 46 countries, we investigate the impact of political institutions on firm growth. We find that tighter political constraints stimulate firm growth and that this positive impact is more pronounced in weak legal environments. Our results are economically significant and robust to a number of sensitivity tests, including alternative proxies for political institutions, alternative measures of firm growth, additional controls, firm- versus country-level regressions, as well as when we address the endogeneity of political constraints. Our results suggest that reforms aimed at improving a country's political institutions can significantly impact firm growth, and that it is indeed through improved political institutions that firms are incentivized to invest in profitable projects.
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Geographical political economy increasingly scrutinises the socio-spatial contexts for brands and branding. Less understood is the influence of subcultures – neo-tribal groups sharing passions, a leisure pursuit or practice - on enterprise formation and the pathways through which brands emerge, trading on perceived authenticity. Subcultural contexts, we argue, unleash distinctive trajectories of enterprise formation, reputation-building, value-creation, global expansion and accumulation, and ultimately destruction. Here we focus on how particular subcultural values – of authenticity, competition, risk-taking, and active participation in ‘scenes’ – interact with capitalist growth dynamics, and where over time and space such intersections bring brands unstuck. Using the case of surfing subculture and collapse of corporate surf enterprises (Quiksilver, Billabong), we theorise subcultural brand value creation and its interaction with financialized expansion, culminating in destructive contradictions. Subcultural enterprises with ‘authentic’, ‘back-of-the van’ origins convert subcultural values of credibility, localism, risk-taking, and scene participation into brand value. Trading on place-origins and subcultural authenticity, enterprises expanded in two phases. First by widening distribution using specialist ‘surf’ retailers, and second by offshoring production, public floating, and debt-financing brand acquisitions and massive retail expansion. Dictates of shareholders and investment banks spurred market saturation, and high-volume/low-quality goods. Surfing’s cherished insouciance gave way to unhinged expansionism and unmanageable debt. The subcultural authenticity that spawned brand popularity was undermined, amplifying financial risk. Disenchanted consumers who once co-created successful brands also co-destroyed them. As subcultural brands proliferate, geographical political economy must be attentive to subcultures as spawning-grounds for enterprises with accompanying limits to market growth, (dis)connections, and values.
KimJ, Lee CY, ChoY.Technological diversification, core-technology competence, and firm growth. , 2016, 45(1): 113-124.https://linkinghub.elsevier.com/retrieve/pii/S0048733315001183
This paper investigates, using a unique panel dataset of Korean manufacturing firms, the relationship between technological diversification and firm growth and the conditioning role of firm-specific core-technology competence in the relationship. First, the relationship is inverted U-shaped regardless of the type of technological diversification, implying that both insufficient and excessive technological diversifications are harmful for firm growth. Second, the level of competence in the field of core technology conditions the relationship by attenuating the harmful effect of excessive technological diversification. Furthermore, in case of unrelated technological diversification, the inverted U-shaped relationship weakens substantially for firms with high core-technology competence. These results suggest that sufficient core-technology competence is needed for firms to effectively manage and utilize technological diversification, particularly unrelated one, for their growth.
61We offer evidence on the importance of culture, in determining externally financed firm growth.61We examine the interdependence of individualism with legal (formal) institutions in determining firm growth.61We present new evidence that culture directly affects firm growth, in addition to its impact through other channels.
HashiI, Toci VZ.Financing constraints, credit rationing and financing obstacles: Evidence from firm-level date in south-eastern europe. , 2010, 12(1): 29-60.http://link.springer.com/chapter/10.1057/9780230302211_4
pemFinancing constraints have been one of the major impediments to doing business in transition economies in general and South-Eastern Europe in particular. Utilizing firm-level survey data and extensive econometric modelling, the paper provides new evidence on financing constraints, credit rationing and financing obstacles for firms in Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Macedonia, Romania and Serbia and Montenegro. The findings suggest that these phenomena are prevalent in the SEE region, especially in the small business sector, a driving force of economic development in these countries. Based on the findings, a number of policy implications aiming at reducing financing constraints for the small business sector are derived./em/p
ColeR, CummingD, LiD.Do banks or VCs spur small firm growth?. , 2014, 41: 60-72.http://www.sciencedirect.com/science/article/pii/S1042443115001183
It is well accepted that access to entrepreneurial finance encourages entrepreneurship and growth. Empirical studies on topic, however, segregate the effect of entrepreneurial finance on entrepreneurship by the source of capital. In this paper, we compare the effect of two main sources of entrepreneurial finance on small firm formation and growth: banks versus venture capital (VC). Based on U.S. data spanning 1995鈥2011, and regardless of controls for endogeneity, we find the effect of VC to be both economically and statistically significant in stimulating new firms, new establishments, new employment, and new payroll. We do not find similar evidence for banks.
OmarR, Lim KY, BasiruddinR.Board of directors and small medium enterprise's firm growth with firm culture as moderating factor in Malaysia. Procedia-Social and , 2014, 164: 315-323.http://www.sciencedirect.com/science/article/pii/S1877042814059023
This conceptual paper is based on a study that explores differences of board of directors’ attributes and SMEs firm growth based on firm culture types in Malaysia. The objectives are to explore a model for overall SMEs firm growth based on board of directors’ attributes, to examine the relationship between board entrepreneurial and guanxi in relations with SMEs firm growth. This paper also aims to identify differences of board of directors’ attributes and SMEs firm growth based on firm culture types. One of the most significant theoretical implications is the introduction of a conceptual model on SMEs firm growth, board of directors’ attributes and firm culture based on Malaysia context. From the practitioners’ perspectives, this paper suggests improvement of existing approaches to the governance of SMEs.
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TiborT, EdinaK, LaurentiuD.Risk and growth analysis of small and medium size enterprises between 2010 and 2012. , 2015, 32: 1323-1331.http://www.sciencedirect.com/science/article/pii/S2212567115015099
The paper is dealing with the analysis of the enterprise risk and growth of a selected number of anonymous small and medium size enterprises. The investigation is based on the enterprises’ simplified annual financial reports. In the economic environment of our days, the principle of “no risk means no profit” is widely accepted and supported. It can also be added, if there is no profit, there is no successful growth. By using leverage ratios, below we intend to analyze two basic types of enterprise risk: financial risk and operational risk. Several publications dealing with enterprise growth are available, yet none have yet been able to offer a common approach to this problem. In our publication enterprise growth is considered as the effective growth of certain economic indicators. We investigate internal and sustainable growth rates in the period of 2010-2013 in a sample of enterprises registered in County Bihor and operating in different sectors of economy. In the second part of the study, the investigated firms are grouped by calculated indicators based on their 2012 year's results by the method of cluster analysis. The calculations were carried out by the R statistics program which is used in a variety of research fields and has the advantage of being an open source software system. The program can offer the modules that are required for our analysis. For our cluster analysis we applied module ‘hclust’. The results of the analysis show that there are no significant changes in the internal and sustainable growth rates of the companies over the investigated period. The minor difference identified between the internal (IGR) and sustainable growth (SGR) rates can be considered as normal, since the investigated firms were using foreign sources as well in order to finance their activities. In terms of risk indicators, it was found that of the degree of operating leverage (DOL) and the degree of financial leverage (DFL) it is the degree of operating leverage that appears to be the major source of problems for the investigated firms. Thus, risk managers should be giving priority attention to minimizing it. Our analyses show that the majority (64%) of the enterprises have an acceptable level of risk.
Qualitative research methodology is used in this study, such as participant observation and in-depth interview. Based on reviewing the progress of tourism development in Xidi village, it has been found that entrepreneurship and tourism demands are the critical internal and external factors in the development of the small tourism firms (STFs), and both factors have exerted great influence on the governance model. Three stages of governance model have been identified by the intervention degree of government, community and the third sector (e.g., Heritage Protection Organizations). The three stages are the community governance model with spontaneous community participation, the network governance model featuring the joint controls by government, community and the third sector, and the hierarchy governance model with government's constantly strengthening commands and controls. Along with the changes in governance model, government's commands and controls have been strengthened continuously, while government's interest demands led to structural changes in the tourism markets, which caused the changes in the operating characteristics and spatial structure of the STFs. Meanwhile, the entrepreneurship and imitative innovation capacity of the residents have been influenced, hence the development pace and scale of the STFs presented different features in different stages. As indicated by the research findings, the optimization of governance model is the key point to the sustainable development of the STFs.
[YinShoubing, LiuYunxia, ZhaoPeng.Driving mechanism of the small tourism firms development in scenic areas: A case study of Xidi village. , 2013, 32(2): 360-368.]
AteljevicJ.Small tourism firms and management practices in New Zealand: The Centre Stage Macro Region. , 2007, 28(1): 307-316.http://linkinghub.elsevier.com/retrieve/pii/S0261517706001336
This paper examines critical issues related to the management of small tourism firms (STFs). It is based on a postal survey of 317 STFs, supplemented by 57 in-depth interviews with owner-managers. The findings suggest that the development and management of small tourism firms are shaped by a number of different factors related to the business owner anager, nature of the tourism activity, its locality and other aspects of the sector specific business environment. A central part of New Zealand, encompassing four localities integrated in a single marketing entity, the Centre Stage [tourism] Macro Region (CSMR), provides the geographical scope of this study. The area exhibits a blend of urban and rural contexts offering a unique opportunity to examine managerial problems in the growing small tourism sector.
HallakR, BrownG, Noel JL.The place identity-performance relationship among tourism entrepreneurs: A structural equation modelling analysis. , 2012, 33(1): 143-154.https://linkinghub.elsevier.com/retrieve/pii/S0261517711000574
Drawing on the literature on tourism, entrepreneurship, environmental psychology, and corporate philanthropy, this research examines how place identity, entrepreneurial self-efficacy, and support for community influence the entrepreneurial performance of small and medium tourism enterprise (SMTE) owners. Confirmatory Factor Analysis and Structural Equation Modelling are used to analyse the responses from 301 tourism entrepreneurs operating in regional South Australia. The data supports a model suggesting that the place identity of tourism entrepreneurs has a significant, positive effect on entrepreneurial self-efficacy and support for the community. Findings also suggest that the place identity of tourism entrepreneurs has a positive, indirect effect on entrepreneurial performance: a tourism entrepreneur sense of identity with the place in which his/her business operates contributes toward entrepreneurial success.
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This research examines goals pertaining to start-up, operations, the family, and ultimate disposition of the enterprise by family and owner-operated businesses in the rural tourism and hospitality sectors. The sample is from a survey in rural Western Australia. A large majority of respondents were from middle-aged couples, new to the business, with strong motivation to live and work in the countryside. Lifestyle and family-related goals were predominant, but there was also recognition that the business had to be profitable. Most respondents were uncertain about the ultimate disposition of their business; only about one-third had definite succession plans to involve children or other family members. Implications are drawn for business and destination development.
GetzD, PetersenT.Growth and profit-oriented entrepreneurship among family business owners in the tourism and hospitality industry. , 2005, 24: 219-242.http://linkinghub.elsevier.com/retrieve/pii/S0278431904000520
Surveys were conducted among family business owners in the tourism and hospitality industry in two resort areas (one in Canada and one in Denmark) with a view to identifying growth and profit-oriented entrepreneurs. Analysis of owners’ attitudes and goals reveals the predominance of lifestyle and autonomy orientations, but also profiles those who are more profit and growth oriented. This small sub-group differs somewhat in the two resorts—in both cases profit and growth orientation is significantly higher among those who purchased their business, particularly accommodation establishments and restaurants. Bed and breakfast and arts and craft businesses are clearly associated with lifestyle and autonomy. Theoretical, management and policy implications are discussed.
Echtner CM.Entrepreneurial training in developing countries. , 1995, 22(1): 119-134.http://linkinghub.elsevier.com/retrieve/pii/016073839400065Z
There are more than a billion people who live in poverty (Collier, 2007; Reynolds, 2012). Twenty-one percent of the population in developing countries (1.22 billion people) can only spend $1.25 or below a day in the year 2010 (Olinto, Beegle, Sobrado, and Uematsu, 2013). In addition to poverty, a major problem for developing countries is the high rate of unemployment (The International Labor Office [ILO], 2013). Two thirds of the young population in developing countries was unemployed or worked in irregular employment in the year 2012 (ILO, 2013; UNDESA, 2013). What will aggravate the situation is that many more young people will enter the future job market. In least developed countries 40% of the population was younger than 15 years in 2012, and 20% were aged between 15 and 24 years (UNDESA, 2013). Consequently, many governmental and non-governmental bodies argue that solving the problem of unemployment and fostering employment creation in developing countries is of high importance (ILO, 2013; UNDESA, 2013). A possible approach to address the issue of unemployment is entrepreneurship since research shows that entrepreneurship supports employment creation (Acs, Desai, and Hessels, 2008; Gries and Naud茅, 2010; Mead and Liedholm, 1998; Naud茅, 2010, 2012; Naud茅, Gries, Wood, and Meintjies, 2008). This implies that through promoting entrepreneurship it is possible to contribute to employment creation.
LaiP, Morrison AS, GrimstadS.Operating small tourism firms in rural destinations: A social representations approach to examining how small tourism firms cope with non-tourism induced changes. , 2017, 58: 164-174.https://linkinghub.elsevier.com/retrieve/pii/S0261517716301959
61Small tourism firms in rural destinations are constantly challenged by industry related and external changes.61Representations of a rural destination by small tourism firm owners and managers are explored.61Coping is mobilised by perceived threats to the destination's representation.61Implementation of coping is not without difficulties and concerns.61Collaborative planning with stakeholders concerned about rural development is needed.
GetzD, Nilsson PA.Responses of family businesses to extreme seasonality in demand: The case of Bornholm Denmark. , 2004, 25: 17-30.http://linkinghub.elsevier.com/retrieve/pii/S0261517703000670
This research examines the meaning and impacts of “extreme” seasonality of tourist demand on family businesses in the tourism and hospitality industry, and how owners strategically adapt. Data were obtained from a self-completion questionnaire and interviews with family business owners on the Danish Island of Bornholm. Revealed strategies were categorized as “coping” with or “combating” seasonality, and in some cases the possibility of terminating the business or “capitulating”. Most responses to extreme seasonality have profound implications for family life as well as business growth or viability. Implications are drawn for family businesses and for destinations.
LernerM, HaberS.Performance factors of small tourism ventures: The interface of tourism, entrepreneurship and the environment. , 2001, 16(1): 77-100.http://linkinghub.elsevier.com/retrieve/pii/S0883902699000385
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In response to the United Kingdom’s government’s desire to improve the performance of tourism, hospitality, and leisure small medium-sized enterprises, this article analyzes the performance measurement processes within 10 best practice organizations. Related to contemporary approaches to improving business performance in the management literature, performance measurement approaches are analyzed using the balanced scorecard framework. An exploratory case study approach using the balanced scorecard as the theoretical framework was taken to explore and elicit critical success factors in performance measurement. Results revealed that four key concepts drove measurement and performance evaluation systems across the sample. These were the exercising of budgetary control with a view to increasing total revenue, the undertaking of customer relationship management as a means of improving quality of service and customer retention, the necessity for strategic management in managing internal business processes, and collaboration (both inter and intra) to drive innovation and learning. The article also proposes a balanced scorecard template for hotels
The competitive advantages of enterprise clusters in rural areas of central China are resulted from not only the triple factors of the economies of scale, the economies of the division of labor and the network linkage, which is the common characteristic of all clusters, but also from the imitative innovation, the context of the central Chinese culture, the institutional support and the lower production costs. This article takes the example of the steel tape clusters in Nanzhuang Village, Yucheng County, Henan Province to examine the theory in view of the practice.
[LiXiaojian, LiErling.Competitive advantages of enterprise clusters in rural area of central China: A case of steel tape clusters in Nanzhuang village, Yucheng county, Henan province. , 2004, 24(2): 136-143.]
Bjuggren PO, Sund LG.Strategic decision making in intergenerational successions of small-and medium-size family-owned businesses. , 2004, 14(1): 11-24.http://onlinelibrary.wiley.com/doi/10.1111/j.1741-6248.2001.00011.x/full
This paper deals with intergenerational successions of small and medium-size enterprises (SMEs). Entrepreneurs face an unavoidable succession dilemma: they must make either explicit or implicit strategic decisions about transitioning ownership of the family business. The main alternatives are to sell the company to someone outside the family or to make arrangements for an interfamily succession. In the latter case, there are many transition modes, e.g., through a gift of shares or a ill. This paper uses decision trees to analyze intergenerational successions problems. One conclusion of the paper is that it is important for a society to provide a legal system that facilitates transitions of family companies within the family because the legal system will, among other positive factors connected with family businesses, preserve idiosyncratic knowledge of family character.
Bjuggren PO, Sund LG.A transaction cost rationale for transition of the firm within the family. , 2002, 19(2): 123-133.http://link.springer.com/10.1023/A:1016289106477
This paper is about the transition of ownership of shares in small and medium-sized enterprises (SMEs) within the family (i.e. from parents to children). In spite of the fact that such successions are rather prevalent among SMEs, there are no explanations in the literature as to why transitions are preferred to outright sale. In this paper we assume that the decisive factor in the choice of succession mode is the desire for efficiency expressed as the highest possible firm value. A firm should stay in the family if this is the most profitable transition alternative. One reason for intergenerational succession to be the most profitable alternative is knowledge idiosyncrasy. However, the benefits of knowledge idiosyncrasy cannot be reaped without an institutional framework that constrains human activities in a proper way. A part of an institutional framework are the laws that act as constraints in successions. Do these laws foster or prevent efficient transition of family firms? This question is addressed in a study of the Swedish inheritance and inheritance tax laws in the light of the policy recommendations on succession made by the European Commission.
Cabrera-SuárezK, Saá-Pérez P D, García-Almeida D. The succession process from a resource-and knowledge-based view of the family firm. , 2001, 14(1): 37-48.http://journals.sagepub.com/doi/10.1111/j.1741-6248.2001.00037.x
A major challenge facing the family firm is the succession process. One reason for this challenge might involve the successor's ability to acquire the predecessor's key knowledge and skills adequately to maintain and improve the organizational performance of the firm. This paper uses two theoretical approaches from the strategic management field to explore this critical process and analyze how it can be managed effectively: the resource-based theory of the firm and the emergent knowledgebased view. This conceptual framework provides a powerful tool for understanding the nature and transfer of knowledge within the family business, which becomes the basis for developing competitive advantage over nonfamily businesses.
Chrisman JJ, Chua JH, LitzR.A unified systems perspective of family firm performance: An extension and integration. , 2003, 18(4): 467-472.http://linkinghub.elsevier.com/retrieve/pii/S0883902603000557
Theory and practice indicate that in family-influenced firms, the interaction of the family unit, the business entity, and individual family members create unique systemic conditions and constituencies that impact the performance outcomes of the family business social system. Habbershon and Williams [Fam. Bus. Rev. 12 (1999) 1] have suggested that these unique systemic family influences can be captured through an analysis of the resources and capabilities of the organization. In this paper, we pursue their line of thinking and more specifically examine the systemic relationship of resources and capabilities as a source of advantage or constraint to the performance outcomes for family-influenced firms. The idiosyncratic firm level bundle of resources and capabilities resulting from the systems interactions are referred to as the “familiness” of the firm. Wealth-creating performance for family-influenced firms is a function of the “distinctive familiness” generated by the family business system. The performance model focuses on a particular subset of family-influenced firms whose performance goal is transgenerational wealth and wealth creation potential. We refer to those families that meet this premise as “enterprising families.” We develop a unified systems model of performance that links the resources and capabilities generated in the enterprising families system with their potential for transgenerational wealth creation.
[LiXinchun, HanJian, LiWeiwen.Is it succession of the family business or creating other field? The construction of the authority legitimacy of the second generation succession of the family business. , 2015, (6): 110-124.]