Article Abstract:
Patterns of new firm gestation processes are found to vary considerably. All possible sequences of the four major gestation events, principal's commitment, financial support, hiring and sales, can take place and the length of the gestation window can vary from one month to three years. The most common first event is principal's commitment but the date of first sales is seen as the optimal choice for a firm's conception or birthdate. It is considered a key indicator that a new business organization is taking an active role in the economy.
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Article Abstract:
The economic transformation undergone by the formerly communist countries in Eastern and Central Europe in the 1990s bears some remarkable similarities to the rebuilding process that occurred in the so-called Rust Belt of the USA in the 1980s. As a comparison of the Polish and Michigan economies shows, the creation, survival and growth of firms has been the key to continued growth in these two areas. In both cases, entrepreneurial activity was vital to the transformation of the existing economic structure.
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Article Abstract:
A study comparing high pioneering-innovative (PI) and low PI ventures was conducted. Results indicate that high PI ventures are rely on personal initiative, start small and building on strength and flexibility, considers the venture as an entity, people oriented and has clear goals as opposed to low PI ventures which rely on expert opinion, are not as flexible, considers the venture as property requiring complete control, exists primarily for income generation and has less specific goals.
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