Despite being recognised as drivers of innovative development, Micro, Small, and Medium-Sized Enterprises (MSMEs) frequently confront resource limitations. Therefore, enhancing the ecosystem is contingent on the entrepreneurs’ social capital, which is crucial for the success of MSMEs. This study applies the social capital approach to analyse the entrepreneurial ecosystem enrichment and its impact on the innovation process of cosmetics MSMEs. The qualitative case study of six cosmetic manufacturing MSMEs explores that social capital is a multifaceted asset to MSMEs. Through an in-depth thematic analysis of three dimensions of social capital (structural, relational, and cognitive), this study states that the innovation process is supported by the synergistic transformation of one dimension of social capital into another. Entrepreneurs sharing the common norms, rules, and language enrich their cognitive as well as relational aspects of ecosystem. The study suggests that as network ties, trust, and norms collectively influence innovation in firms, hence, social capital needs to be studied with its contextualization in the ecosystem.
The Impact of Cognitive Social Capital on Entrepreneurial OrientationAI Publications
This study examines the impact of cognitive social capital on entrepreneurial orientation among SME business owners in Syria. Drawing on a sample of 381 SMEs, the research employs a linear regression analysis to explore the relationship between various dimensions of cognitive social capital (shared knowledge, shared values, shared beliefs, and shared understanding) and entrepreneurial orientation. The results indicate that each dimension of cognitive social capital has a significant positive relationship with entrepreneurial orientation, accounting for approximately 27% of the variance in entrepreneurial orientation. These findings highlight the importance of fostering shared mental models and understanding among SME business owners in the challenging Syrian environment. The study contributes to the literature on social capital and entrepreneurship by providing empirical evidence of the positive impact of cognitive social capital on entrepreneurial orientation in a unique context. The results have significant implications for entrepreneurs and policymakers in Syria, emphasizing the potential benefits of investing in the development of cognitive social capital to promote entrepreneurship and economic development.
Social Capital for Better Community LivingDevegowda S R
Social capital refers to the networks and relationships between individuals, groups, and organizations. It exists in various forms such as bonding, bridging, and linking. Social capital is important because it fosters cooperation, information sharing, and collective action in communities. It plays a key role in technology adoption and community development by enabling trust and collaboration. Extension workers can help build social capital through networking, influencing, and supporting social learning. A case study found that microfinance programs effectively created social capital that empowered women's groups in India. Overall, social capital benefits communities by facilitating joint problem solving and sustainable livelihoods.
International Journal of Engineering Research and Development (IJERD)IJERD Editor
journal publishing, how to publish research paper, Call For research paper, international journal, publishing a paper, IJERD, journal of science and technology, how to get a research paper published, publishing a paper, publishing of journal, publishing of research paper, reserach and review articles, IJERD Journal, How to publish your research paper, publish research paper, open access engineering journal, Engineering journal, Mathemetics journal, Physics journal, Chemistry journal, Computer Engineering, Computer Science journal, how to submit your paper, peer reviw journal, indexed journal, reserach and review articles, engineering journal, www.ijerd.com, research journals,
yahoo journals, bing journals, International Journal of Engineering Research and Development, google journals, hard copy of journal
Where Can Public Policy Play a Role A Comparative Case Study of Regional Inst...iBoP Asia
Where Can Public Policy Play a Role A Comparative Case Study of Regional Institutions and Their Impact on Firm’s Innovation Networks in China and Switzerland
Teigland, di gangi, & yetis setting the stage sunbeltRobin Teigland
The document discusses exploring the sustainability of private-collective communities, such as open source communities engaging with firms. It proposes using a stakeholder perspective and resource dependence theory to understand how these communities sustain themselves despite divergent stakeholder interests. The study examines the OpenSimulator community through interviews, archival data, and social network analysis to understand how interrelations among stakeholder groups influence sustainability over time. The goal is to understand the dynamics that allow private-collective communities to continue providing benefits to members long-term.
The role of social entrepre neurial organizations in promotion of sustainable...Ambati Nageswara Rao
This document discusses the role of social entrepreneurial organizations in promoting sustainable development. It begins with defining key concepts like social entrepreneurship and sustainable development. It then reviews literature on the emergence of social entrepreneurship and how organizations address issues like market failures, government limitations, and resource constraints. The literature highlights how social entrepreneurs use innovative strategies to generate income and create social value. The document discusses frameworks for categorizing the needs social entrepreneurs can address, like satisfying basic human needs, creating collaborative communities, and addressing needs of future generations. It explores how social entrepreneurial activities can target individuals, communities and future generations to contribute to sustainable development.
The role of social entrepre neurial organizations in promotion of sustainable...Ambati Nageswara Rao
This document summarizes a research paper about the role of social entrepreneurial organizations in promoting sustainable development. The paper explores how social entrepreneurs use social innovations to empower excluded communities and enhance their participation in markets and society. Three case studies of social enterprises in Gujarat, India are presented: Torch-it, which created a device to help the visually impaired navigate independently; Shroff foundation, which works in the education sector; and Menstrupedia, which educates girls about menstruation. The studies found that the social enterprises helped bring sustainable development by providing new services and products for underserved groups, challenging rigid social structures. The social innovations adopted by these organizations thus contribute to achieving the goals of social and economic inclusion
The Impact of Cognitive Social Capital on Entrepreneurial OrientationAI Publications
This study examines the impact of cognitive social capital on entrepreneurial orientation among SME business owners in Syria. Drawing on a sample of 381 SMEs, the research employs a linear regression analysis to explore the relationship between various dimensions of cognitive social capital (shared knowledge, shared values, shared beliefs, and shared understanding) and entrepreneurial orientation. The results indicate that each dimension of cognitive social capital has a significant positive relationship with entrepreneurial orientation, accounting for approximately 27% of the variance in entrepreneurial orientation. These findings highlight the importance of fostering shared mental models and understanding among SME business owners in the challenging Syrian environment. The study contributes to the literature on social capital and entrepreneurship by providing empirical evidence of the positive impact of cognitive social capital on entrepreneurial orientation in a unique context. The results have significant implications for entrepreneurs and policymakers in Syria, emphasizing the potential benefits of investing in the development of cognitive social capital to promote entrepreneurship and economic development.
Social Capital for Better Community LivingDevegowda S R
Social capital refers to the networks and relationships between individuals, groups, and organizations. It exists in various forms such as bonding, bridging, and linking. Social capital is important because it fosters cooperation, information sharing, and collective action in communities. It plays a key role in technology adoption and community development by enabling trust and collaboration. Extension workers can help build social capital through networking, influencing, and supporting social learning. A case study found that microfinance programs effectively created social capital that empowered women's groups in India. Overall, social capital benefits communities by facilitating joint problem solving and sustainable livelihoods.
International Journal of Engineering Research and Development (IJERD)IJERD Editor
journal publishing, how to publish research paper, Call For research paper, international journal, publishing a paper, IJERD, journal of science and technology, how to get a research paper published, publishing a paper, publishing of journal, publishing of research paper, reserach and review articles, IJERD Journal, How to publish your research paper, publish research paper, open access engineering journal, Engineering journal, Mathemetics journal, Physics journal, Chemistry journal, Computer Engineering, Computer Science journal, how to submit your paper, peer reviw journal, indexed journal, reserach and review articles, engineering journal, www.ijerd.com, research journals,
yahoo journals, bing journals, International Journal of Engineering Research and Development, google journals, hard copy of journal
Where Can Public Policy Play a Role A Comparative Case Study of Regional Inst...iBoP Asia
Where Can Public Policy Play a Role A Comparative Case Study of Regional Institutions and Their Impact on Firm’s Innovation Networks in China and Switzerland
Teigland, di gangi, & yetis setting the stage sunbeltRobin Teigland
The document discusses exploring the sustainability of private-collective communities, such as open source communities engaging with firms. It proposes using a stakeholder perspective and resource dependence theory to understand how these communities sustain themselves despite divergent stakeholder interests. The study examines the OpenSimulator community through interviews, archival data, and social network analysis to understand how interrelations among stakeholder groups influence sustainability over time. The goal is to understand the dynamics that allow private-collective communities to continue providing benefits to members long-term.
The role of social entrepre neurial organizations in promotion of sustainable...Ambati Nageswara Rao
This document discusses the role of social entrepreneurial organizations in promoting sustainable development. It begins with defining key concepts like social entrepreneurship and sustainable development. It then reviews literature on the emergence of social entrepreneurship and how organizations address issues like market failures, government limitations, and resource constraints. The literature highlights how social entrepreneurs use innovative strategies to generate income and create social value. The document discusses frameworks for categorizing the needs social entrepreneurs can address, like satisfying basic human needs, creating collaborative communities, and addressing needs of future generations. It explores how social entrepreneurial activities can target individuals, communities and future generations to contribute to sustainable development.
The role of social entrepre neurial organizations in promotion of sustainable...Ambati Nageswara Rao
This document summarizes a research paper about the role of social entrepreneurial organizations in promoting sustainable development. The paper explores how social entrepreneurs use social innovations to empower excluded communities and enhance their participation in markets and society. Three case studies of social enterprises in Gujarat, India are presented: Torch-it, which created a device to help the visually impaired navigate independently; Shroff foundation, which works in the education sector; and Menstrupedia, which educates girls about menstruation. The studies found that the social enterprises helped bring sustainable development by providing new services and products for underserved groups, challenging rigid social structures. The social innovations adopted by these organizations thus contribute to achieving the goals of social and economic inclusion
Corporate social innovation How firms learn to innovate for the greater good...Pam Chan
This document discusses how companies learn to engage in successful social innovation through acquiring tacit knowledge from external partners. It explores knowledge transfer between companies and external parties in corporate social innovation (CSI) projects. The study is based on observations of over 70 companies over five years. It finds that much of the knowledge exchanged in CSI is tacit knowledge developed through shared interactions and experiences. Companies partner with external organizations in different configurations that vary in their distance from the company's core business operations and level of investment/interaction. Through case studies, it illustrates how companies acquire different types of tacit knowledge from partners to enhance their value chains or address social issues.
The study of spatial socio-economic development constitutes a significant field of analysis of innovation creation and diffusion. Understanding the spatial evolution of the different socio-economic systems in the age of globalization requires a synthesizing and integrated theoretical approach to how innovation is generated and replicated. This article aims to study three significant spatial socio-economic development theories –the growth poles, the clusters, and the business ecosystems. A literature review reveals that (a) the concept of growth poles concerns mostly the analysis of spatial polarization between specific territories and regions, (b) the clusters concept addresses the issue of developed inter-industrial competition and co-operation from a meso-level perspective, and (c) the analytical field of business ecosystems provides an evolutionary approach that can be valorized for all co-evolving spatial socio-economic organizations. In this context, an eclectically interventional mechanism to strengthen innovation is suggested. The Institutes of Local Development and Innovation (ILDI) policy is proposed for all firms and business ecosystems, of every size, level of spatial development, prior knowledge, specialization, and competitive ability. The ILDI is presented as an intermediate organization capable of diagnosing and enhancing the firm’s physiology in structural Stra.Tech.Man terms (strategy-technology-management synthesis).
Mapping of social enterprises in gujarat opportunities and challenges aheadAmbati Nageswara Rao
This academic paper examines social enterprises and the social entrepreneurship ecosystem in Central Gujarat, India. It analyzes data collected from 50 social enterprises in the region. The paper finds that the number of social enterprises established after 2011 has increased, which may be influenced by new government programs and policies promoting entrepreneurship. It also finds that while most social entrepreneurs are male, nearly half of respondents are female, indicating no significant gender difference in social entrepreneurship in the region. The paper aims to evaluate opportunities and challenges for social enterprises in Central Gujarat and provide insights to help strengthen the social entrepreneurship ecosystem.
Bridging the Gap: Intellectual Property Rights and Sustainable Development Go...AJHSSR Journal
ABSTRACT : In today's highly developed society, start-ups are proliferating in various fields. However, most
start-up teams lack relevant management knowledge, resulting in a high failure rate. Entrepreneurial activity is a
complex social phenomenon, and businesses must integrate intellectual property rights (IPRs) management to
yield positive outcomes. This study reviews the literature on IPRs in the innovation and entrepreneurship
ecosystem. From over ahundred existing research papers, highly relevant literature was identified and analyzed
to conclude that IPRs management has contributed significantly to knowledge dissemination, sharing, and
protection among companies in the innovation and entrepreneurship ecosystem. Simultaneously, companies and
universities should also take social responsibility, and contribute to the achievement of the United Nations
Sustainable Development Goals.
KEYWORDS: Intellectual Property Rights; Patent Protection; Innovation and EntrepreneurshipEcosystem;
Systematic Literature Review Analysis Method; SDGs
On the Frontiers: The Implications of Social Entrepreneurship for Internation...Ishita Dube
This document discusses how the field of social entrepreneurship (SE) can enrich the study of international entrepreneurship (IE). It argues that SE perspectives on blended value creation and international governance can help revise IE's definitions, assumptions, and levels of analysis to focus on global sustainable well-being beyond just economic outcomes. The intersection of SE and IE highlights important opportunities for IE research at the public policy level, in considering ethics and equitable outcomes, and at the firm level in pursuing both financial and social value through international social ventures.
Scarcity, resource conservation, and sustainable entrepreneurship: Olivia Aronson
This document proposes a multi-level perspective on sustainable entrepreneurship. It suggests that sustainable entrepreneurship is influenced by individual manager worldviews, strategic group affiliation, and community culture constraints. Three propositions are outlined: 1) Manager worldviews influence sustainable entrepreneurship. 2) Strategic group affiliation influences sustainable entrepreneurship. 3) Variability in community culture influences the level of sustainable entrepreneurship. Limitations and implications for theory and practice are also discussed.
This document summarizes a case study of an Indian rug manufacturing company called Jaipur Rugs that operates in rural India. It discusses how the company implements sustainable practices in its global supply chain to improve the livelihoods of local carpet weavers while facing challenges from cultural, environmental and communication differences. The case study examines how Jaipur Rugs supports rural communities through economic opportunities, social initiatives and environmental protection to achieve sustainable development. Interviews with company management and employees, as well as local artisans, provide insights into the company's operations and strategies for production, quality management and community development.
The Difference between Entrepreneurs and Managers in the Accumulation of Soci...ijtsrd
This paper difference between entrepreneurs and managers in the accumulation of social capital. The analysis for this study involved responses from 50 entrepreneurs and 50 managers in Vietnam. The research results shown three facts that support the predictions 1 social capital is higher among entrepreneurs, 2 the social capital of entrepreneurs rises with firm age, while such behavior is not observed for managers 3 entrepreneurs who invest in human capital also invest in social capital, while such correlation is not observed for managers. Dr. Le Nguyen Doan Khoi "The Difference between Entrepreneurs and Managers in the Accumulation of Social Capital" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-1 , December 2020, URL: https://www.ijtsrd.com/papers/ijtsrd38032.pdf Paper URL : https://www.ijtsrd.com/management/business-economics/38032/the-difference-between-entrepreneurs-and-managers-in-the-accumulation-of-social-capital/dr-le-nguyen-doan-khoi
This document reviews recent research attempting to estimate the causal effect of social capital. It discusses how nonrandom friendship formation poses challenges for these estimates, as friends tend to choose others similar to themselves (social homophily). While social capital is often defined as resources from social networks, friendship selection means estimates could reflect underlying similarities rather than true effects. The review examines studies employing innovative methods to address this issue, such as using longitudinal data or quasi-experiments. Overall, progress has been made, though careful consideration of assumptions is still needed to make valid causal claims about social capital.
How entrepreneurial ecosystems and entrepreneur mindsets co-evolveNorris Krueger
Great case of how Aalto University's killer entrepreneurship programs were designed, developed and delivered by students (the Aalto Entrepreneur Society or AaltoES) in partnership with the entrep community. Fun to see how the entrepreneurial mindset grew and co-evolved as the entrepreneurial ecosystem grew. The REAL work was done by Tua Bjorklund, scholar in residence at the Aalto Design Factory. The final version of this draft is forthcoming in the Journal of Enterprising Communities!
The focus of this research was to establish the effect of entrepreneurship Ecosystem in inculcating
entrepreneurial propensity for community development. Promotion of entrepreneurship in Kenya has existed
ever since independence. The Government has shown tremendous support to entrepreneurship growth. The
Government have channelled financial support through funding such as Women Enterprise fund, Youth
Enterprise Fund and Uwezo Fund
Corporate social responsibility institutional drivers a comparative study fro...Adam Shafi Shaik PhD.
ABSTRACT
This study develops an internal–external institutional framework that explains why firms act in socially responsible ways in the emerging country context of India and Saudi Arabia. Utilizing a mixed method of in-depth study selected companies & individuals, the author found that internal institutional factors, including ethical corporate culture and top management commitment, and external institutional factors, including globalization pressure, Government embeddedness, and normative social pressure, will affect the likelihood of firms to act in socially responsible ways. In particular, implicit ethical corporate culture plays a key role in predicting different aspects of corporate social responsibility (CSR), while external institutional mechanisms mainly predict market-oriented CSR initiatives. This study contributes to the research on CSR antecedents by showing that in the emerging economy of India and Saudi Arabia, CSR toward non market stakeholders is more close
Passion driven entrepreneurship in small and medium-sized towns - empirical e...Ying wei (Joe) Chou
This document summarizes a research paper that examines passion-driven entrepreneurship in small and medium-sized towns (SMSTs) in Italy. It explores how entrepreneurial passion (EP) and domain passion (DP) help transform ideas into real entrepreneurial ventures in resource-scarce SMST contexts. The paper analyzes two case studies of passion-driven entrepreneurial ventures (PDEVs) through their development process. It finds that shared passion fosters local involvement and helps overcome hurdles. The paper contributes to literature on entrepreneurship in peripheral contexts and highlights the role of passion and local networks.
the ranking and importance of journals can vary significantly depending on your specific field of study or interest. It's crucial to consult with academic advisors, professors, and experts in your field to identify the most relevant and respected journals for your research. Additionally, you should always check the latest impact factors and rankings for the most up-to-date information.
SOCIAL INNOVATION AND SOCIAL ENTREPRENEURSHIP - AN ELUCIDATION FOR THE PROBLE...IAEME Publication
In this paper, we addressed issues regarding the importance of social innovation (SI) and
social entrepreneurship (SE) within a society which is in a profound and rapid change and
transformation that marks all the areas of social life. The fundamental objective of the study was to
analyze the concepts of social innovation and social entrepreneurship as providers of both social
value and growth of life quality. We highlighted the inter-conditioning relationship between these
two concepts and showed the need for social innovations to respond to some challenges of the
society, such as aging, budgetary pressure and others. This paper proposes a model of social
entrepreneurship at the intersection of three sectors: state, market and civil society, in its efforts to
meet the more and more sophisticated requests of the contemporary society. Thus, the whole
society must be connected to the new innovative social models
This document discusses community-based entrepreneurial activities. It defines community-based enterprises as entrepreneurial initiatives that enhance the quality of life and economic development of a particular region. The key characteristic is that assets belong to or are dedicated to the community, ensuring the enterprise is accountable to the community. Several studies are reviewed that examine how community-based entrepreneurship can empower marginalized groups and promote social upliftment by utilizing local cultural values and resources. However, challenges include a lack of community orientation in modern society and limited capacity. The document concludes that community entrepreneurship models may be appropriate for investing in essential infrastructure and services that require collaborative community efforts.
This document discusses community-based entrepreneurial activities. It defines community-based enterprises as entrepreneurial initiatives that enhance the quality of life and economic development of a particular region. The key characteristic is that assets belong to or are dedicated to the community, ensuring the enterprise is accountable to the community. Several studies are reviewed that examine how community-based entrepreneurship can empower marginalized groups and promote social upliftment by utilizing local cultural values and resources. However, challenges include a lack of community orientation in modern society and limited capacity. The document concludes that community entrepreneurship models may be appropriate for investing in essential infrastructure and services that require collaborative community efforts.
This document discusses social capital and its role during financial crisis periods. It defines social capital as the networks and relationships between individuals, and the associated norms of trust and cooperation. The document summarizes that social capital is reduced during financial crises as trust declines, and this can exacerbate crises by spreading lack of confidence. Organizations that focus on building social capital through strong internal relationships may be better able to withstand crises. The document also reviews different definitions and dimensions of social capital that have been proposed in academic literature.
International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
THE SACRIFICE HOW PRO-PALESTINE PROTESTS STUDENTS ARE SACRIFICING TO CHANGE T...indexPub
The recent surge in pro-Palestine student activism has prompted significant responses from universities, ranging from negotiations and divestment commitments to increased transparency about investments in companies supporting the war on Gaza. This activism has led to the cessation of student encampments but also highlighted the substantial sacrifices made by students, including academic disruptions and personal risks. The primary drivers of these protests are poor university administration, lack of transparency, and inadequate communication between officials and students. This study examines the profound emotional, psychological, and professional impacts on students engaged in pro-Palestine protests, focusing on Generation Z's (Gen-Z) activism dynamics. This paper explores the significant sacrifices made by these students and even the professors supporting the pro-Palestine movement, with a focus on recent global movements. Through an in-depth analysis of printed and electronic media, the study examines the impacts of these sacrifices on the academic and personal lives of those involved. The paper highlights examples from various universities, demonstrating student activism's long-term and short-term effects, including disciplinary actions, social backlash, and career implications. The researchers also explore the broader implications of student sacrifices. The findings reveal that these sacrifices are driven by a profound commitment to justice and human rights, and are influenced by the increasing availability of information, peer interactions, and personal convictions. The study also discusses the broader implications of this activism, comparing it to historical precedents and assessing its potential to influence policy and public opinion. The emotional and psychological toll on student activists is significant, but their sense of purpose and community support mitigates some of these challenges. However, the researchers call for acknowledging the broader Impact of these sacrifices on the future global movement of FreePalestine.
CHALLENGING INJUSTICE STRETCHING THE ‘ACADEMIC BOYCOTT’ AFTER WAR ON GAZA 2023indexPub
The academic boycott of Israeli universities is a pivotal and contentious aspect of the broader Boycott, Divestment, Sanctions (BDS) movement, which seeks to apply pressure on Israel to change its policies and actions regarding the occupation of Palestinian territories and the treatment of Palestinians. This paper explores the academic boycott’s origins, implementation, and impact, focusing on the role of Israeli universities in supporting military and state policies deemed oppressive and discriminatory against Palestinians. The history and rationale behind the academic boycott are examined, tracing its roots back to the early 2000s and highlighting key moments and subsequent international endorsements. The literature review explores the complicity of Israeli academic institutions in occupying state policies and the significant actions by global academic bodies and universities severing ties with Israeli institutions. The methodology involves a comprehensive analysis of elite university websites, boycott-related sites, mainstream news, and social media channels to assess the boycott's impact and the ongoing debate surrounding it. The discussion addresses the challenges faced by academics supporting the boycott, such as career repercussions and political backlash, and critiques the perceived double standards of boycott opponents. The conclusion focuses on Arab academics' in the East and not only in the West to get closely involved and engaged in the academic boycott movement, emphasizing their role in both raising awareness and advocating this boycott in a time when their governments are normalising relations with the Israeli apartheid regime. The authors also call for continued advocacy, education, and solidarity among academics worldwide to sustain the momentum of the academic boycott and achieve the goals of promoting Palestinian rights and ending Israeli occupation and apartheid practices.
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Corporate social innovation How firms learn to innovate for the greater good...Pam Chan
This document discusses how companies learn to engage in successful social innovation through acquiring tacit knowledge from external partners. It explores knowledge transfer between companies and external parties in corporate social innovation (CSI) projects. The study is based on observations of over 70 companies over five years. It finds that much of the knowledge exchanged in CSI is tacit knowledge developed through shared interactions and experiences. Companies partner with external organizations in different configurations that vary in their distance from the company's core business operations and level of investment/interaction. Through case studies, it illustrates how companies acquire different types of tacit knowledge from partners to enhance their value chains or address social issues.
The study of spatial socio-economic development constitutes a significant field of analysis of innovation creation and diffusion. Understanding the spatial evolution of the different socio-economic systems in the age of globalization requires a synthesizing and integrated theoretical approach to how innovation is generated and replicated. This article aims to study three significant spatial socio-economic development theories –the growth poles, the clusters, and the business ecosystems. A literature review reveals that (a) the concept of growth poles concerns mostly the analysis of spatial polarization between specific territories and regions, (b) the clusters concept addresses the issue of developed inter-industrial competition and co-operation from a meso-level perspective, and (c) the analytical field of business ecosystems provides an evolutionary approach that can be valorized for all co-evolving spatial socio-economic organizations. In this context, an eclectically interventional mechanism to strengthen innovation is suggested. The Institutes of Local Development and Innovation (ILDI) policy is proposed for all firms and business ecosystems, of every size, level of spatial development, prior knowledge, specialization, and competitive ability. The ILDI is presented as an intermediate organization capable of diagnosing and enhancing the firm’s physiology in structural Stra.Tech.Man terms (strategy-technology-management synthesis).
Mapping of social enterprises in gujarat opportunities and challenges aheadAmbati Nageswara Rao
This academic paper examines social enterprises and the social entrepreneurship ecosystem in Central Gujarat, India. It analyzes data collected from 50 social enterprises in the region. The paper finds that the number of social enterprises established after 2011 has increased, which may be influenced by new government programs and policies promoting entrepreneurship. It also finds that while most social entrepreneurs are male, nearly half of respondents are female, indicating no significant gender difference in social entrepreneurship in the region. The paper aims to evaluate opportunities and challenges for social enterprises in Central Gujarat and provide insights to help strengthen the social entrepreneurship ecosystem.
Bridging the Gap: Intellectual Property Rights and Sustainable Development Go...AJHSSR Journal
ABSTRACT : In today's highly developed society, start-ups are proliferating in various fields. However, most
start-up teams lack relevant management knowledge, resulting in a high failure rate. Entrepreneurial activity is a
complex social phenomenon, and businesses must integrate intellectual property rights (IPRs) management to
yield positive outcomes. This study reviews the literature on IPRs in the innovation and entrepreneurship
ecosystem. From over ahundred existing research papers, highly relevant literature was identified and analyzed
to conclude that IPRs management has contributed significantly to knowledge dissemination, sharing, and
protection among companies in the innovation and entrepreneurship ecosystem. Simultaneously, companies and
universities should also take social responsibility, and contribute to the achievement of the United Nations
Sustainable Development Goals.
KEYWORDS: Intellectual Property Rights; Patent Protection; Innovation and EntrepreneurshipEcosystem;
Systematic Literature Review Analysis Method; SDGs
On the Frontiers: The Implications of Social Entrepreneurship for Internation...Ishita Dube
This document discusses how the field of social entrepreneurship (SE) can enrich the study of international entrepreneurship (IE). It argues that SE perspectives on blended value creation and international governance can help revise IE's definitions, assumptions, and levels of analysis to focus on global sustainable well-being beyond just economic outcomes. The intersection of SE and IE highlights important opportunities for IE research at the public policy level, in considering ethics and equitable outcomes, and at the firm level in pursuing both financial and social value through international social ventures.
Scarcity, resource conservation, and sustainable entrepreneurship: Olivia Aronson
This document proposes a multi-level perspective on sustainable entrepreneurship. It suggests that sustainable entrepreneurship is influenced by individual manager worldviews, strategic group affiliation, and community culture constraints. Three propositions are outlined: 1) Manager worldviews influence sustainable entrepreneurship. 2) Strategic group affiliation influences sustainable entrepreneurship. 3) Variability in community culture influences the level of sustainable entrepreneurship. Limitations and implications for theory and practice are also discussed.
This document summarizes a case study of an Indian rug manufacturing company called Jaipur Rugs that operates in rural India. It discusses how the company implements sustainable practices in its global supply chain to improve the livelihoods of local carpet weavers while facing challenges from cultural, environmental and communication differences. The case study examines how Jaipur Rugs supports rural communities through economic opportunities, social initiatives and environmental protection to achieve sustainable development. Interviews with company management and employees, as well as local artisans, provide insights into the company's operations and strategies for production, quality management and community development.
The Difference between Entrepreneurs and Managers in the Accumulation of Soci...ijtsrd
This paper difference between entrepreneurs and managers in the accumulation of social capital. The analysis for this study involved responses from 50 entrepreneurs and 50 managers in Vietnam. The research results shown three facts that support the predictions 1 social capital is higher among entrepreneurs, 2 the social capital of entrepreneurs rises with firm age, while such behavior is not observed for managers 3 entrepreneurs who invest in human capital also invest in social capital, while such correlation is not observed for managers. Dr. Le Nguyen Doan Khoi "The Difference between Entrepreneurs and Managers in the Accumulation of Social Capital" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-1 , December 2020, URL: https://www.ijtsrd.com/papers/ijtsrd38032.pdf Paper URL : https://www.ijtsrd.com/management/business-economics/38032/the-difference-between-entrepreneurs-and-managers-in-the-accumulation-of-social-capital/dr-le-nguyen-doan-khoi
This document reviews recent research attempting to estimate the causal effect of social capital. It discusses how nonrandom friendship formation poses challenges for these estimates, as friends tend to choose others similar to themselves (social homophily). While social capital is often defined as resources from social networks, friendship selection means estimates could reflect underlying similarities rather than true effects. The review examines studies employing innovative methods to address this issue, such as using longitudinal data or quasi-experiments. Overall, progress has been made, though careful consideration of assumptions is still needed to make valid causal claims about social capital.
How entrepreneurial ecosystems and entrepreneur mindsets co-evolveNorris Krueger
Great case of how Aalto University's killer entrepreneurship programs were designed, developed and delivered by students (the Aalto Entrepreneur Society or AaltoES) in partnership with the entrep community. Fun to see how the entrepreneurial mindset grew and co-evolved as the entrepreneurial ecosystem grew. The REAL work was done by Tua Bjorklund, scholar in residence at the Aalto Design Factory. The final version of this draft is forthcoming in the Journal of Enterprising Communities!
The focus of this research was to establish the effect of entrepreneurship Ecosystem in inculcating
entrepreneurial propensity for community development. Promotion of entrepreneurship in Kenya has existed
ever since independence. The Government has shown tremendous support to entrepreneurship growth. The
Government have channelled financial support through funding such as Women Enterprise fund, Youth
Enterprise Fund and Uwezo Fund
Corporate social responsibility institutional drivers a comparative study fro...Adam Shafi Shaik PhD.
ABSTRACT
This study develops an internal–external institutional framework that explains why firms act in socially responsible ways in the emerging country context of India and Saudi Arabia. Utilizing a mixed method of in-depth study selected companies & individuals, the author found that internal institutional factors, including ethical corporate culture and top management commitment, and external institutional factors, including globalization pressure, Government embeddedness, and normative social pressure, will affect the likelihood of firms to act in socially responsible ways. In particular, implicit ethical corporate culture plays a key role in predicting different aspects of corporate social responsibility (CSR), while external institutional mechanisms mainly predict market-oriented CSR initiatives. This study contributes to the research on CSR antecedents by showing that in the emerging economy of India and Saudi Arabia, CSR toward non market stakeholders is more close
Passion driven entrepreneurship in small and medium-sized towns - empirical e...Ying wei (Joe) Chou
This document summarizes a research paper that examines passion-driven entrepreneurship in small and medium-sized towns (SMSTs) in Italy. It explores how entrepreneurial passion (EP) and domain passion (DP) help transform ideas into real entrepreneurial ventures in resource-scarce SMST contexts. The paper analyzes two case studies of passion-driven entrepreneurial ventures (PDEVs) through their development process. It finds that shared passion fosters local involvement and helps overcome hurdles. The paper contributes to literature on entrepreneurship in peripheral contexts and highlights the role of passion and local networks.
the ranking and importance of journals can vary significantly depending on your specific field of study or interest. It's crucial to consult with academic advisors, professors, and experts in your field to identify the most relevant and respected journals for your research. Additionally, you should always check the latest impact factors and rankings for the most up-to-date information.
SOCIAL INNOVATION AND SOCIAL ENTREPRENEURSHIP - AN ELUCIDATION FOR THE PROBLE...IAEME Publication
In this paper, we addressed issues regarding the importance of social innovation (SI) and
social entrepreneurship (SE) within a society which is in a profound and rapid change and
transformation that marks all the areas of social life. The fundamental objective of the study was to
analyze the concepts of social innovation and social entrepreneurship as providers of both social
value and growth of life quality. We highlighted the inter-conditioning relationship between these
two concepts and showed the need for social innovations to respond to some challenges of the
society, such as aging, budgetary pressure and others. This paper proposes a model of social
entrepreneurship at the intersection of three sectors: state, market and civil society, in its efforts to
meet the more and more sophisticated requests of the contemporary society. Thus, the whole
society must be connected to the new innovative social models
This document discusses community-based entrepreneurial activities. It defines community-based enterprises as entrepreneurial initiatives that enhance the quality of life and economic development of a particular region. The key characteristic is that assets belong to or are dedicated to the community, ensuring the enterprise is accountable to the community. Several studies are reviewed that examine how community-based entrepreneurship can empower marginalized groups and promote social upliftment by utilizing local cultural values and resources. However, challenges include a lack of community orientation in modern society and limited capacity. The document concludes that community entrepreneurship models may be appropriate for investing in essential infrastructure and services that require collaborative community efforts.
This document discusses community-based entrepreneurial activities. It defines community-based enterprises as entrepreneurial initiatives that enhance the quality of life and economic development of a particular region. The key characteristic is that assets belong to or are dedicated to the community, ensuring the enterprise is accountable to the community. Several studies are reviewed that examine how community-based entrepreneurship can empower marginalized groups and promote social upliftment by utilizing local cultural values and resources. However, challenges include a lack of community orientation in modern society and limited capacity. The document concludes that community entrepreneurship models may be appropriate for investing in essential infrastructure and services that require collaborative community efforts.
This document discusses social capital and its role during financial crisis periods. It defines social capital as the networks and relationships between individuals, and the associated norms of trust and cooperation. The document summarizes that social capital is reduced during financial crises as trust declines, and this can exacerbate crises by spreading lack of confidence. Organizations that focus on building social capital through strong internal relationships may be better able to withstand crises. The document also reviews different definitions and dimensions of social capital that have been proposed in academic literature.
International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
Ähnlich wie A SOCIAL CAPITAL APPROACH TO ENTREPRENEURIAL ECOSYSTEM AND INNOVATION: CASE STUDY OF COSMETIC MANUFACTURING MSMES (20)
THE SACRIFICE HOW PRO-PALESTINE PROTESTS STUDENTS ARE SACRIFICING TO CHANGE T...indexPub
The recent surge in pro-Palestine student activism has prompted significant responses from universities, ranging from negotiations and divestment commitments to increased transparency about investments in companies supporting the war on Gaza. This activism has led to the cessation of student encampments but also highlighted the substantial sacrifices made by students, including academic disruptions and personal risks. The primary drivers of these protests are poor university administration, lack of transparency, and inadequate communication between officials and students. This study examines the profound emotional, psychological, and professional impacts on students engaged in pro-Palestine protests, focusing on Generation Z's (Gen-Z) activism dynamics. This paper explores the significant sacrifices made by these students and even the professors supporting the pro-Palestine movement, with a focus on recent global movements. Through an in-depth analysis of printed and electronic media, the study examines the impacts of these sacrifices on the academic and personal lives of those involved. The paper highlights examples from various universities, demonstrating student activism's long-term and short-term effects, including disciplinary actions, social backlash, and career implications. The researchers also explore the broader implications of student sacrifices. The findings reveal that these sacrifices are driven by a profound commitment to justice and human rights, and are influenced by the increasing availability of information, peer interactions, and personal convictions. The study also discusses the broader implications of this activism, comparing it to historical precedents and assessing its potential to influence policy and public opinion. The emotional and psychological toll on student activists is significant, but their sense of purpose and community support mitigates some of these challenges. However, the researchers call for acknowledging the broader Impact of these sacrifices on the future global movement of FreePalestine.
CHALLENGING INJUSTICE STRETCHING THE ‘ACADEMIC BOYCOTT’ AFTER WAR ON GAZA 2023indexPub
The academic boycott of Israeli universities is a pivotal and contentious aspect of the broader Boycott, Divestment, Sanctions (BDS) movement, which seeks to apply pressure on Israel to change its policies and actions regarding the occupation of Palestinian territories and the treatment of Palestinians. This paper explores the academic boycott’s origins, implementation, and impact, focusing on the role of Israeli universities in supporting military and state policies deemed oppressive and discriminatory against Palestinians. The history and rationale behind the academic boycott are examined, tracing its roots back to the early 2000s and highlighting key moments and subsequent international endorsements. The literature review explores the complicity of Israeli academic institutions in occupying state policies and the significant actions by global academic bodies and universities severing ties with Israeli institutions. The methodology involves a comprehensive analysis of elite university websites, boycott-related sites, mainstream news, and social media channels to assess the boycott's impact and the ongoing debate surrounding it. The discussion addresses the challenges faced by academics supporting the boycott, such as career repercussions and political backlash, and critiques the perceived double standards of boycott opponents. The conclusion focuses on Arab academics' in the East and not only in the West to get closely involved and engaged in the academic boycott movement, emphasizing their role in both raising awareness and advocating this boycott in a time when their governments are normalising relations with the Israeli apartheid regime. The authors also call for continued advocacy, education, and solidarity among academics worldwide to sustain the momentum of the academic boycott and achieve the goals of promoting Palestinian rights and ending Israeli occupation and apartheid practices.
CHALLENGING INJUSTICE STRETCHING THE ‘ACADEMIC BOYCOTT’ AFTER WAR ON GAZA 2023indexPub
The academic boycott of Israeli universities is a pivotal and contentious aspect of the broader Boycott, Divestment, Sanctions (BDS) movement, which seeks to apply pressure on Israel to change its policies and actions regarding the occupation of Palestinian territories and the treatment of Palestinians. This paper explores the academic boycott’s origins, implementation, and impact, focusing on the role of Israeli universities in supporting military and state policies deemed oppressive and discriminatory against Palestinians. The history and rationale behind the academic boycott are examined, tracing its roots back to the early 2000s and highlighting key moments and subsequent international endorsements. The literature review explores the complicity of Israeli academic institutions in occupying state policies and the significant actions by global academic bodies and universities severing ties with Israeli institutions. The methodology involves a comprehensive analysis of elite university websites, boycott-related sites, mainstream news, and social media channels to assess the boycott's impact and the ongoing debate surrounding it. The discussion addresses the challenges faced by academics supporting the boycott, such as career repercussions and political backlash, and critiques the perceived double standards of boycott opponents. The conclusion focuses on Arab academics' in the East and not only in the West to get closely involved and engaged in the academic boycott movement, emphasizing their role in both raising awareness and advocating this boycott in a time when their governments are normalising relations with the Israeli apartheid regime. The authors also call for continued advocacy, education, and solidarity among academics worldwide to sustain the momentum of the academic boycott and achieve the goals of promoting Palestinian rights and ending Israeli occupation and apartheid practices.
MORPHOMETRIC ANALYSIS OF BURHIGANG AND SADHARU RIVER BASIN WITH THE APPLICATI...indexPub
The morphometric analysis of drainage basins and channel networks is crucial for understanding the geo-hydrological nature of the area, reflecting the prevailing climate, geology, geomorphology, and structural antecedents of the catchment area (Rao et al., 2009). Geographical Information System (GIS) offers an effective tool for image processing, identification of morphological features, and analyzing basin properties. This study aims to evaluate morphometric parameters such as stream order (Nu), stream length (Lu), bifurcation ratio (Rb), drainage density (Dd), stream frequency (Fs), etc., of the Burhigang and Sadharu basins, two adjoining basins situated in the newly created Biswanath district of Assam, including a small part in Arunachal Pradesh. The basins are located between 26°57'17.10" N and 26°38'10.75" N latitudes and 93°06'32.85" E and 93°16'42.25" E longitudes.The GIS-based morphometric analyses reveal that both Burhigang and Sadharu are 4th order basins covering 160.68 km² and 74.91 km² area, respectively. Utilizing SRTM data rectified with topographic data of 1:50000 scales obtained from the Survey of India toposheet, this paper presents an analysis of morphometric parameters using digital analysis and standard formulae suggested by Horton (1932, 1945), Miller (1953), Schumm (1956), and Strahler (1964).
FOREIGN DIRECT INVESTMENT AND ECONOMIC GROWTH IN INDIA-WITH REFERENCE TO TRAD...indexPub
Purpose: Inconclusive results from a slew of earlier empirical research on the link between foreign direct investment (FDI) and economic development inspired the present inquiry. The paper acknowledges that past research has relied most heavily on the shaky premise that a correlation between FDI inflows and economic development can be drawn without treating the inflows separately according to sectors. Design/Methodology/Approach: The purpose of the study is based on Trading Sector (Top 10 Sectors) in India and the data is secondary data collected from the DPIIT website for the period 2022-2023. We are Using stalactitical tools like ADF Stationarity, VECM, VAR, MIDAS Originality/Value: Utilizing a period shifting boundary model with a vector autoregressive particular, this study explores the expected effect of FDI on the extension of explicit businesses in India, a nonindustrial country. The study's findings are supported by da number of econometric tests, including the Johansen's cointegration test, the vector blunder rectification model, the Granger causality test, the fluctuation disintegration examination, and the drive reaction investigation. Findings: Growth and investment from outside the country, both now and in the future. According to the report, in order to attract and absorb more FDI and maintain sustained economic development, economic policymakers in India should revitalize the primary sector. Furthermore, the agricultural sector may be more dependent on the government's economic growth policies than the more volatile Trading sector.
CONSISTENCY IN THE CREDIT RATING METHODOLOGY – A STUDY OF INDIAN CREDIT RATIN...indexPub
Purpose: The effective allocation of money in the financial sector is greatly aided by credit rating agencies (CRAs). A number of scholars, however, definitely stand out to the way that CRAs contain flaws that contributed to disastrous outcomes like the financial crisis of 2008. One of the main causes of the problems affecting the credit rating business is the rivalry among credit reporting agencies (CRAs), which is the main topic of this article. This article examines how competition affects a company's credit rating using quantitative and regression methods. Design/Methodology/Approach: In this study, we use dual ratings to see whether rating inflation and shopping are effects of industry competitiveness. Findings from the study indicate that CRAs artificially boost a company's credit rating in order to stay competitive. Competition among credit reporting agencies (CRAs) for new customers fuels rating shopping in the credit rating sector as well. In this analysis, we look at the scores given by CRISIL, CARE, ICRA, and INDIA RATINGS India, the four main credit rating agencies recognised by SEBI. Originality/Value: We use descriptive statistics, analysis of variance, and various appropriate ratios with companies to determine their credibility. Data from different sources shows that CRISIL primarily considers business risk, financial risk, management risk, and project risk when evaluating issuers and instruments. We also found that Crisil had lower default rates and the BBB rating grade had the highest stability. Findings: Regulatory agencies and financial institutions should pay close attention to the consequences of the paper's conclusions. Previous attempts by authorities to fix the credit rating industry's problems have included opening up the market to additional competitors. In 2006, the Credit Rating Agency Reform Act was established by President Bush and the United States Congress.
HR STRATEGIES AND EMPLOYEE OUTCOMES: A STUDY ON COMPENSATION, APPRAISAL, RECO...indexPub
This study examines the relationship between HR practices and employee outcomes in order to provide insight into the crucial role HR practices play in organisational dynamics. The results show that HR procedures significantly affect workers' engagement with their work and their ability to decide whether or not to stay with their current employer. In order to improve staff retention rates and achieve sustained organisational effectiveness, this study's findings stress the significance of well-crafted human resource policies. Purpose: The purpose of this study is to investigate the multifaceted relationship between human resource practices and employee outcomes, specifically focusing on compensation, performance appraisal, and recognition programs. By delving into these dynamics, the research aims to enhance our understanding of how these HR strategies influence job embeddedness and the intention to quit among employees, ultimately providing valuable insights for organizations to optimize their HR policies and employee retention strategies. Design/Methodology: This research adopts a quantitative approach, utilizing a structured survey instrument administered to a diverse sample of employees across various industries. Data collected will be analyzed using advanced statistical techniques, including regression analysis, to examine the associations between compensation, performance appraisal, recognition programs, job embeddedness, and intention to quit. Additionally, qualitative data such as open-ended responses will be analyzed to gain deeper insights into employee perceptions and experiences. Findings: Reveal significant correlations are identified as key determinants of job embeddedness, with higher levels of job satisfaction and commitment associated with these practices. Moreover, employees exposed to effective HR strategies exhibit a decreased intention to quit, highlighting the role of these practices in retaining talent. The study also identifies nuanced interactions between these variables, shedding light on the complexity of HR practices' impact on employee attitudes and behaviours. Practical Implications: By recognizing the importance of compensation, performance appraisal, and recognition programs in promoting job embeddedness and reducing intention to quit, organizations can design and implement more effective HR policies. This, in turn, can lead to improved employee retention rates, increased job satisfaction, and ultimately contribute to organizational success and stability. Originality/Value: The originality of this research lies in its ability to provide organizations with a comprehensive understanding of the interconnectedness of these variables, thus offering valuable insights and practical recommendations for HR practitioners and organizational leaders striving to retain talent and foster a positive workplace culture.
USING STRUCTURAL EQUATION MODELING ON FOREIGN DIRECT INVESTMENT OF INDIAN ECO...indexPub
Purpose: Foreign direct investment (FDI) altogether influences the beneficiary country's financial development, making it more stable, high-quality, and healthy, according to this empirical study based on the present stage of economic development. Thus, every country encountering financial globalization is attempting to lay out a serious business climate to increment worldwide speculation. Design/Methodology/Approach: the main objective of this study is based on Institutional quality or Evidence and I selected 5 factors Institutional Metrics like Voice and Accountability, Civil liberties, Women in parliament, Corruption perceptions, Political rights from DPIIT website (Secondary Data) for the period 2018-2023. Static analysis methods such as the Unit Root Test, the ARDL Approach, and SEM are being used. Originality/Value: The experts in this study used OLS (Least Squares) regression: Foreign direct investment (FDI) streams were the focal point of the exploration. The impact of institutional qualities on unfamiliar direct speculation streams has been explored utilizing the customary least square methodology. Findings: Institutional metrics of government efficacy and corruption have shown a shortrun link with foreign direct investment (FDI) flows, according to the research, which used the ARDL model to find that these indicators had positive coefficient values. As far as institutional markers like law and order, administrative quality, and voice and responsibility, the review found that political stability had a long-term association with foreign direct investment flows (7.4578 > 4.16), placing it above the upper peasant table.
SUSTAINABLE INVESTING UNVEILED: THE ROLE OF BOND RATINGS IN GUIDING GREEN BON...indexPub
The increasing urgency to address climate change has propelled sustainable investing into the spotlight, with green bonds emerging as a pivotal instrument for mobilizing the capital required for environmental projects. This study delves into the critical role that bond ratings play in guiding investments in green bonds, shedding light on how these ratings influence investor confidence and the allocation of funds towards sustainable initiatives. By employing a mixed-methods approach, combining quantitative analysis of green bond performance with qualitative interviews from industry experts, this research offers a comprehensive overview of the interplay between bond ratings and green bond investments. The findings suggest that higher bond ratings, often indicative of lower risk and better sustainability credentials, significantly impact the attractiveness of green bonds to investors. Additionally, the study examines the evolution of rating criteria to encompass environmental, social, and governance (ESG) factors, highlighting the shift towards more holistic assessments of investment risk and potential. This research contributes to the broader discourse on sustainable finance by providing insights into the mechanisms through which bond ratings can facilitate more informed and impactful green bond investments.
AN EXPLONATORY ANALYSIS OF HR ANALYTICS MODEL OVER BIG DATA PROCESS IMPACT ON...indexPub
By generating pertinent indicators, Human Resource Analytics (HRA) can provide HR personnel with a broader perspective on their contribution to the organization's financial objectives. There is a scarcity of research, however, regarding the impact of HRA on business outcomes, specifically in the context of organisations based in India and Vietnam. Within this particular framework, the current study investigates the impact of HRA big data capabilities on business outcomes. The study also investigates the discrepancy between the actual and perceived levels of big data expertise possessed by human resources analysts in Indian and Vietnamese organisations. The current study constructs a conceptual framework in order to examine the hypotheses formulated for assessing the interconnections between the variables being investigated. Utilising the Capability, Motivation, and Opportunity (CMO) framework, it accomplishes this. The data were collected using a quantitative approach, which entailed integrating the various components of HRA expertise and assessing their influence on business outcomes through the utilisation of big data. A systematic questionnaire was developed and distributed to 230 human resources professionals employed by various organisations located in Ho Chi Minh City, Vietnam, and Hyderabad, India. In addition to HR administrators, users of HRAs comprised the participants. A variety of statistical methods were applied to the data to assess the disparity between HRA's anticipated and realised big data capabilities, as well as the impact of HRA on business outcomes. It appears, based on the data that offering incentives and opportunities to employees with HR analytical skills could result in enhanced performance for the organisation. Research has demonstrated that providing opportunities and incentives to skilled employees is crucial for encouraging the development of their analytical abilities. Possessing these types of analytical abilities significantly influences the outcomes of an organisation.
EVOLUTION OF EXPECTATION VIOLATIONS THEORY (EVT) FROM FACE-TO FACE COMMUNICAT...indexPub
The promotion carried out by Holywings in the religious community is a promotional strategy that carries a big risk considering that the majority of Indonesian people are Muslims where liquor is an unlawful item. This was considered a violation and sparked various reactions in society. In the digital era, data sourced from social media is important data to understand the response of the Indonesian people to the violation of the Holywings issue. The research method used is explorative because marketing communication research based on social media data is still new. The research method is descriptive and quantitative by describing variables such as user volume, reach, conversation trends, top tweets, sentiments, influencers, and communication networks between social media users. The research sample uses the period from 23 June 2022 to 30 June 2022. The results of this research indicate that the issue of the Holywings violation is viral compared to other issues. The scope of the issue of violations at Café Holywings spreads throughout Indonesia and is dominant in DKI Jakarta Province. Even though Bali is the biggest branch of Café Holywings, there was very little reaction to the violation of Café Holywings. This is following the theory of expectation violations that the size of the violation reaction on social media is highly dependent on individual characteristics, context, and reaction.
ANTECEDENT OF ORGANIZATIONAL PERFORMANCE IN PT “XXX” PHARMA, TBKindexPub
The objective of this study is to investigate the influence of information technology capability on knowledge management capability, the influence of information technology capability on organisational performance, the influence of knowledge management capability on organisational performance, and the indirect impact of information technology capability on organisational performance through knowledge management capability in PT. "XXX" Pharma, Tbk. The research is based on the understanding of the interconnectedness between information technology cap. The present study utilised a quantitative approach, employing both explanatory and survey methodologies. The process of data collection involved the distribution of a questionnaire to a sample of 44 respondents, which was selected using the purposive random sampling technique. The data processing was performed using route analysis, utilising the IBM Predictive Analytic Software (PASW) version 24. The empirical evidence suggests a statistically significant and positive correlation between the capability of information technology and the capability of knowledge management. Additionally, there is a positive and significant impact of information technology capability on organisational performance. Furthermore, knowledge management capability is found to have a positive and significant effect on organisational performance. Lastly, it is observed that information technology capability positively and significantly influences organisational performance through its impact on knowledge management capability.
UNRAVELLING THE MENTAL HEALTH LANDSCAPE: EXPLORING DEPRESSION AND ASSOCIATED ...indexPub
Introduction: The prevalence of depression and its correlates in Bangladeshi rural university students have been rarely investigated. We draw a literature review, a cross-sectional study and analysis of the rural students’ depression natures and mechanisms that influence their academic performance and health and well-being. Methods: A cross-sectional research was conducted during the period august 2019 to January 2020 in a university. We employed Beck Depression Inventory scale to collect data from 200 undergraduate and graduate students. Data were analysed using chi-square association test and ordinal logistic regression. Results: We discovered that mild to severe depression affected 60% of rural students [mild (16%), borderline (10%), moderate (12%), severe (11.5%), and extreme (10.5%)]. Family expectations, smoking, bad academic achievement, inability to enroll in a particular program, and inadequate household finances were significant risk factors for depression. When it comes to depression, male students scored noticeably higher than female pupils. The decreased depression was linked to both strong household economics and intellectual achievement. Conclusions: The intricate interactions among the risk factors influence the character and processes of depression in rural students.
IMPACT OF PERFORMANCE MANAGEMENT ON SUCCESSION PLANNINGindexPub
Motivation: HR in an organization faces various challenges in business environment, such as Building Capabilities, Improving Productivity, Building Performance Culture, Talent Management, Succession Planning for Key Leadership and Critical Roles, Developing Accountability and Ownership, Human Capital Management and transforming HR function into developmental Role from the legacy driven HR, etc. Succession Planning is the process of identifying and developing individuals, who have potential to hold the key leadership position in an Organization, whereas Performance Management includes assessing and improving upon the performance of an employee to meet the organizational goals. There are several Management Practices, which are adopted widely in Industry to make a successful Succession Planning. Workforce and Talent Management is one of them. The health of an organization majorly depends on the proper placement of people, which is a combined outcome of Talent Identification, Talent Development and Talent Retention. Performance Management plays a vital role in Talent Identification. It also has an impact on Talent Development and Talent Retention. The key idea of succession planning suggests that the right person to be placed at the right position at the right time. Succession planning is becoming a challenge these days in the corporate world. Organizations are often not found prepared with their successors to occupy the key positions as and when required. The positions are either kept vacant for a substantial period or more than one role is assigned to a single person. Identifying the right talent for the key positions from outside the organization and recruiting them is a much more difficult task at the eleventh hour. This has a significant impact on organizational health and in turn to organizational sustainability. Organizations must last longer than people. Role of organization continues even when the people move out. Employees must superannuate after attaining a certain age. Also, organizations must have a contingency plan for sudden vacancy arises out of attrition, health hazards and death of employee. Succession planning is the strategy to ensure that a suitable person is made available during exigencies. Employees are developed for taking on higher responsibilities and for the new roles that may emerge in future. The placement of Key Leadership positions can be executed either by inviting the talent from outside or developing the talent in-house. The latter is always in demand keeping in view the core values of the organization and the impact on loyalty and organizational culture in a long run. It is preferable to develop the in-house talent pool to reduce dependency on recruitment of experienced people from outside for the critical roles. It brings the talent acquisition cost low and contributes as a motivating factor for the team as well. The acceptability of a person placed at Top / Key Leadership Positions is high when these are occupied
EXTERNAL BEHAVIOURAL FACTORS IMPACT ON INVESTMENT DECISIONS OF INDIVIDUAL INV...indexPub
The study collects data from a sample of individual investors and analyses their responses to recent financial events, changes in market trends, and economic forecasts. By examining factors such as demographic profiles, financial literacy, risk tolerance, and market perceptions, the research aims to identify significant predictors of investment decisions in this demographic. The findings suggest that investors are predominantly influenced by financial news, peer influence, past investment performance, and the economic stability of the region. This study contributes to the field by highlighting the localized factors impacting investment choices and providing insights for financial advisors and investment firms to tailor their strategies according to investor needs and regional specifics.
GLOBAL RESEARCH TREND AND FUTURISTIC RESEARCH DIRECTION VISUALIZATION OF WORK...indexPub
Purpose – The purpose of this research is to undertake a bibliometric analysis of working capital management. The study examines papers from time period 1974-2023and performed performance analysis, co-citation analysis, bibliographic coupling and scientific mapping. Design/methodology/approach – The study examines 174 articles retrieved from the Scopus database using bibliometric analysis, performance analysis and thematic clustering. The study looked at the scientific productivity of papers, prolific authors, most influencing papers, institutions and nations, keyword co-occurrence, thematic mapping, co-citations and authorship and country collaborations. VOSviewer was as a tool in the research to conduct the performance analysis and thematic clustering.The watchword "Working Capital Management" was used to include only English-language articles. Findings – The most productive year was 2022 with 26 publications. Martínez and García- are the most protuberant authors with 708 citations. The findings of the study shows that the most influential institutions are ‘The Department of Management and Finance, Faculty of Economy andBusiness and Department of Management and Finance, Faculty of Economics and Business, The University of Murcia, Spain with 381 & 297 citations. Among,thecountry analysis,Spain with 744 citations stands first of all other nations for publication on Working Capital Management. Kärri is the most productive author with 7 documents. Country-wise analysis reveals that the United States is the most productive country for Working Capital Management research with 40 documents.The authors also identified seven thematic clusters of Working Capital Management. Research limitations/implications – It informs and directs researchers on the current state of study in the field of Working Capital Management.The present study has quite a few implications forSmall & Medium enterprise managers, entrepreneurs, financial managers, academicians and scholars. It also outlines future research directions in this field.Present study provides an inclusive acquaintance about the working capital management till date. Originality/value – This is the first study which provides the performance analysis and scientific mapping of the all published documents on working capital management between the time periods 1974-2023
ASSESSING HRM EFFECTIVENESS AND PERFORMANCE ENHANCEMENT MEASURES IN THE BANKI...indexPub
This study employs an exploratory and quantitative research approach to systematically investigate the impact of Human Resource Management (HRM) practices on Organizational Performance within the Indian Banking sector. The research approach combines exploratory research, aimed at gaining insights into HRM practices, with a quantitative approach using a purposive sampling technique. Data is collected through a questionnaire from employees in both public (SBI) and private banks (HDFC Bank) who work in HR departments or are involved in HR activities. The Likert scale is utilized in the questionnaire to measure participant perceptions of HRM practices. The study utilizes two statistical tools: Neural Network and Exploratory Factor Analysis (EFA). The findings of the study highlight the significance of promotion and transfer policies, considered paramount in influencing organizational performance in both public and private banks. Additionally, the study underscores the importance of training and development initiatives in enhancing employee skills and competencies. Clear and effective communication within HR policies is identified as pivotal in improving organizational performance. Lastly, aligning HRM practices with sector-specific goals is recognized as a significant contributor to improved employee satisfaction and overall performance in the banking sector. The findings offer guidance for HR practitioners and policymakers in optimizing HRM practices to achieve better organizational performance.
CORRELATION BETWEEN EMPATHY AND FRIENDSHIP QUALITY AMONG HIGH SCHOOL STUDENTS...indexPub
In this research were used two questionnaires Empathy Formative questionnaire and Friendship Quality Scale. The aim of this study is to see the relationship between empathy and friendship quality among adolescent, to find out if there are gender differences in empathy and friendship quality, and to see if there are any differences between younger and older students on examined variables. This research was done with 65 high school students. Age of the students were 15 to 17 years old. Results show that there is a correlation between empathy and friendship quality. The results of t test show that there are not significant differences between females and males on variable empathy. Girls and boys have significant difference in friendship quality in Kosovo. There are no significant differences between older students and younger students in the level of empathy and also there are no significant differences between older students and younger students in the level of friendship quality.
LEVELS OF DEPRESSION AND SELF-ESTEEM IN STUDENTSindexPub
Introduction: among the most worrying problems in recent years are low self-esteem, family and friends problems, anxiety, stress, and depression, which are taking on alarming proportions in students and young people in general. Purpose: the study is a prediction, which focuses on analyzing and evaluating students' self-esteem and level of depression. Methodology: the population is 332 students (13-15 years old) in high schools in the Gjakova region. The study describes the analysis, classification, and evaluation of the collected data by doing the analysis and real examination of the findings. Results: in terms of gender there is no significant difference in self-esteem, while in depression there is a significant difference. The level of depression is higher in women (11.9) than in men (9.5). Economic status shows that students with employed fathers have lower depression (6.77) compared to those with unemployed fathers (10.80). Conclusions: The level of depression and self-esteem and parental reflection affect students. A link has been found between economic status and emotional problems and student behavior. To prevent it, the psychological service in schools should function, and together with families and the community should be as close as possible to the problems of students.
THE IMPACT OF SOCIAL FACTORS ON INDIVIDUALS DIAGNOSED WITH SCHIZOPHRENIAindexPub
The society with diverse structural and ideological influences, assumes its role in relation to behavior, attitude, belief and relations. The impact can be seen in every society globally, however the western nations have adjusted their social policies to suit these transformations, whereas nations in developing phase have failed to establish suitable systems. In Kosovo, the allocation of funds for mental health services remains insufficient, even though mental health disorders account for 12.3% of overall illnesses and 30.8% of work incapacities! The objective of this study is to examine the impact of society on the decline and recovery of individuals with schizophrenia. The study employs both qualitative and quantitative methods to provide a descriptive-analytical. A study was conducted in four municipalities of Kosovo, using individuals with schizophrenia from psychiatric institutions as subjects along with their caregivers/family members . The research found that social factors greatly contribute to the worsening of schizophrenia patients' condition. The presence of schizophrenia is evident through a higher likelihood of having a low level of education, high unemployment rates, and engaging in harmful behaviors like tobacco and alcohol use, as well as physical inactivity. Significant correlations have been observed in the subscales of positive and negative symptoms using the Self-Report PNS-Q questionnaires. It is crucial for individuals with schizophrenia to have a carefully designed strategy in place, developed in partnership with professionals from various relevant fields such as social protection, psychiatric medical services, education, and social integration plans.
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Presentation by Herman Kienhuis (Curiosity VC) on Investing in AI for ABS Alu...Herman Kienhuis
Presentation by Herman Kienhuis (Curiosity VC) on developments in AI, the venture capital investment landscape and Curiosity VC's approach to investing, at the alumni event of Amsterdam Business School (University of Amsterdam) on June 13, 2024 in Amsterdam.
The report *State of D2C in India: A Logistics Update* talks about the evolving dynamics of the d2C landscape with a particular focus on how brands navigate the complexities of logistics. Third Party Logistics enablers emerge indispensable partners in facilitating the growth journey of D2C brands, offering cost-effective solutions tailored to their specific needs. As D2C brands continue to expand, they encounter heightened operational complexities with logistics standing out as a significant challenge. Logistics not only represents a substantial cost component for the brands but also directly influences the customer experience. Establishing efficient logistics operations while keeping costs low is therefore a crucial objective for brands. The report highlights how 3PLs are meeting the rising demands of D2C brands, supporting their expansion both online and offline, and paving the way for sustainable, scalable growth in this fast-paced market.
Ellen Burstyn: From Detroit Dreamer to Hollywood Legend | CIO Women MagazineCIOWomenMagazine
In this article, we will dive into the extraordinary life of Ellen Burstyn, where the curtains rise on a story that's far more attractive than any script.
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The Most Inspiring Entrepreneurs to Follow in 2024.pdfthesiliconleaders
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A SOCIAL CAPITAL APPROACH TO ENTREPRENEURIAL ECOSYSTEM AND INNOVATION: CASE STUDY OF COSMETIC MANUFACTURING MSMES
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A SOCIAL CAPITAL APPROACH TO ENTREPRENEURIAL
ECOSYSTEM AND INNOVATION: CASE STUDY OF COSMETIC
MANUFACTURING MSMES
Dr. DEEPMALA BAGHEL
Assistant professor, Indian Institute of Management Nagpur
Email: deepmala@iimnagpur.ac.in
Abstract
Despite being recognised as drivers of innovative development, Micro, Small, and Medium-Sized Enterprises
(MSMEs) frequently confront resource limitations. Therefore, enhancing the ecosystem is contingent on the
entrepreneurs’ social capital, which is crucial for the success of MSMEs. This study applies the social capital
approach to analyse the entrepreneurial ecosystem enrichment and its impact on the innovation process of
cosmetics MSMEs. The qualitative case study of six cosmetic manufacturing MSMEs explores that social capital
is a multifaceted asset to MSMEs. Through an in-depth thematic analysis of three dimensions of social capital
(structural, relational, and cognitive), this study states that the innovation process is supported by the synergistic
transformation of one dimension of social capital into another. Entrepreneurs sharing the common norms, rules,
and language enrich their cognitive as well as relational aspects of ecosystem. The study suggests that as network
ties, trust, and norms collectively influence innovation in firms, hence, social capital needs to be studied with its
contextualization in the ecosystem.
Keywords: Entrepreneur, Innovation, Cosmetics, MSME, Social capital, Trust.
I. INTRODUCTION
In today’s knowledge-based economy, entrepreneurship has been hailed as a key feature that
relies on innovation as its fuel. Innovation is a phenomenon realized through an infusion of
multiple economic, technical, strategic, organizational, industrial, and social components.
Since innovation entails the production, development, and application of novel concepts or
behaviours, it requires cooperation, collaborations, and multiple interactions among different
ecosystem actors (Eckhardt et al., 2018; Rosenberg, 1982; Reidolf, 2016; Ouechtati et al., 2022;
Williams and Edge, 1996). The ecosystem discourse is extensively studied to analyze the
structure, relationships, and exchanges among players, groups, and organizations (Foguesatto
et al., 2021; Gomes et al., 2018). Existing research shows that a company's innovative growth
should include both technical skills and the incorporation of socio-cultural capital acquired
through contact networks and group learning (Rosenberg, 1976; Tsai & Ghoshal, 1998).
However, the most important theoretical understandings of innovation obtained over time focus
solely on technological aspects. There is limited empirical research on the novel hypothesis
proposed by social capital as measures of innovation, which typically concentrate on how
social networks help entrepreneurs bridge resource gaps by connecting them with external
resources like advisors, investors, partners, and early-adopter customers. Thus, this study
proposes that analysing social capital and its three dimesons is crucial for examining the
complexities of the entrepreneurial ecosystem. Micro, Small, and Medium-Sized Enterprises
(MSMEs) experience challenges related to infrastructure and resources (Eckhardt et al., 2018).
Hence, among all social variables, entrepreneurs’ social capital plays a crucial role in the
innovation process by serving as a valuable resource that facilitate MSMEs navigate various
limitations.
This study aims to demonstrate how social capital strengthens the entrepreneurial ecosystem
and propels MSME innovation. To achieve the goal, the research adopts Gabbay and Leenders'
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(1999, p. 3) definition of “corporate social capital” as “the set of tangible or virtual resources
that accrue to a corporate player through the player's social relationships, facilitating the
attainment of goals” and offers a realistic framework for the goal attainment of MSME
entrepreneurs. Consequently, this study analyses various types of structural social capital
(personal networking: kinship, friends, and ethnic ties; professional networking: business,
research, and supplier network and assets). The relational aspect of social capital (personal and
professional connections) and the cognitive aspect of social capital (reciprocal trust). A setting
composed of the entrepreneur’s culture, social structure, and trust-forming norms, codes, and
common language along with personal and professional networks. This research applies social
capital theory to realize the importance of connections and collaboration for resource
generation for innovation.
Overall, this study makes certain crucial contributions. First, it adds to the theory of innovation
a comprehensive view of social processes that produce a sustainable firm ecosystem. By taking
intersecting perspectives of three dimensions of social capital (structural, relational, and
cognitive) this research extends the knowledge of social capital and its subtle contribution to
the innovation process. It also adds the ecosystem as a theoretical metaphor for studying
MSMEs.
To address the objectives, the paper is structured as follows. The following section provides a
basic overview of an entrepreneurial ecosystem, innovation, and social capital. The further
section displays the methodological framework applied for the data collection and analysis.
Afterward, the paper concentrates on the discussion that consists of the analytical and empirical
factors lending support to the claim. The conclusion discusses the paper's contributions,
research limitations, and future study potential.
II. THEORETICAL FRAMEWORK
Entrepreneurial ecosystem
The ecosystem as a theoretical metaphor is widely used in the study of high-growth
entrepreneurship (Foguesatto, et al., 2021; Spigel, 2017; Audretsch and Belitski, 2016).
Although ecosystem as a concept has grown in prominence, it has not yet attained complete
comprehension in innovation research (Adner, 2017). In recent literature, a discussion has
emerged to convey the multidimensionality of an innovation-supporting ecosystem, termed the
innovation ecosystem. (Foguesatto, et al., 2021). The entrepreneurial ecosystem has been
defined differently in different literature. The entrepreneurial ecosystem is also characterised
as constructed on networks between various small enterprises that collaborate and compete in
the same industry at a similar time (Adner, 2017). It differs from a cluster, in which businesses
locate nearby to service larger clients and, as a result, share knowledge (Westlund, and Bolton,
2003). In an entrepreneurial ecosystem, specific attributes are not isolated, but rather interact
with each other in ecosystem (Spigel, 2017). Therefore, social capital is a better option to
investigate the enrichment of the ecosystem (Stam, 2015). System theories seek to explain the
elements of the system that makes an ecosystem as a whole (Isenberg, 2011). Whereas the
configuration approach focuses on the composition of the ecosystem and interactions of its
elements (Spigel, 2017). Another essential stream is social network theory, which permits the
measurement of element interactions. This research, therefore, applies social capital theory to
gain a deeper understanding of this mechanism. The objective is to comprehend the ecosystem,
as the combination of contexualised cultural perspectives, social networks, capitals, and socio-
cultural systems.
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Social Capital
The literature asserts that social capital represents a valuable source encouraging relationships
among agents that are stable and productive over time (Granovetter, 1985; Coleman, 1988;
Burt, 1992). Bourdieu (1986: 248) defines social capital as, “the aggregate of the actual or
potential resources which are linked to possession of a durable network of more or less
institutionalized relationships of mutual acquaintance and recognition. Bourdieu (1986) used
it at an individual level to explain societal phenomena like e.g. reproduction of inequalities,
Coleman (1988) applied it to the study of norms and social action, and Putnam (1995) applied
it at the social phenomenon level of civic engagement in a community’s prosperity and
emphasizes community membership, engagement in informal gathering and social trust in
shaping the social capital.
Dimensions of social capital
In literature, we witness three dimensions of social capital: the structural, the cognitive, and
the relational (Nahapiet and Ghoshal, 1998; Soetanto and van Geenhuizen 2015). The basic
premise of social capital theory proposes that these dimensions provide specific resources to
the ecosystem that benefit the members by strengthening their core competencies (Soetanto
and van Geenhuizen 2015; Foguesatto, et al., 2021; Thomas and Autio, 2013). The structural
dimension refers to the general pattern of connections between a person’s networks at a given
time. It includes traits such as network ties between individuals and organizations. The
relational dimension is all about the character of interpersonal relationships formed via
prolonged interaction. Relational aspects are exhibited through relationship-related trust and
norms. The cognitive dimension refers to communities’ shared systems of meaning. Language,
common codes, and shared anecdotes are essential aspects of the cognitive dimension.
Individuals gain a sense of belonging to a group as a result of shared meanings, which supports
the development of standardised business codes and vocabulary. The social capital theory is
based on Burt’s (1992) structural holes approach and Granovetter’s (1985) strong and weak
ties approach. It basically proposes that social capital is generated by network ties that provide
access to resources, and in turn, these resources create a strong ecosystem that benefits all of
its members (Nahapiet and Ghoshal, 1998; Spigel, 2017; Thomas and Autio, 2013). When it
comes to cosmetics, the connections among MSMEs' members help foster knowledge
generation, idea exchange, leading to innovation, sustainable growth, and competitiveness.
This study suggests that all these factors play a role in the innovation potential of cosmetics
entrepreneurs, both on their own and together.
Social Capital and Innovation
For this research, we take innovation as the development of something new using existing
resources (Rosenberg, 1976). Numerous research streams examine innovation as a social
process shaped by the interaction of scientific discoveries, institutional variables, and
socioeconomic mechanisms (Rosenberg, 1976). The sociology of technological change relied
heavily on Kuhn's statements that the enterprise of science and technology has been dominated
by socially embedded research paradigms, whereas technological evolution is a socially rooted
process for the social construction of technology perspective (Mackenzie and Wajcman, 1985).
According to the Social Shaping of Innovation approach, social, institutional, economic, and
cultural factors influence the direction and rate of innovation, the form of technology (artefacts
and practices), and the effects of technological development on different groups in society
(Williams and David, 1996). This literary discourse helps us comprehend the relationship
between various technical (R&D, knowledge sharing, and technological capability generation)
and social capital in cosmetics MSMEs.
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As the embeddedness approach demonstrates that knowledge resides in several (material and
human) sources, its acquisition needs sharing and exchange within networking members of an
ecosystem (Granovetter, 1985). Similarly, the discursive framework that links social capital
and innovation argues that firms do not innovate in isolation and local actors share informal
interdependencies and problem-solving strategies (Dakhli & De Clercq, 2004). Recent
management discussions have begun to emphasise the ecosystem model in which knowledge
and related resource sharing happens not only by the number of networking with other actors
but also by their nature and level of mutual interdependence (Thomas and Autio 2013).
Furthermore, an ecosystem is in dynamic state wherein living organisms and their relationships
co-evolve, and results in the inclusion of actors into its social structures, cultural values, and
networks of ties. Therefore, we may claim that cosmetic MSMEs’ innovation capabilities are
substantially impacted by their socially imprinted norms, values, and beliefs (Granovetter,
1985). However, there is mutual awareness among actors that demonstrates behaviour
standards, collaboration goals resulting in shared values, and an external collective identity
(Thomas and Autio, 2013).
In recent decades the growing focus on social capital has empowered researchers to study
socio-cultural knowledge origins and their role in innovation (Dakhli & De Clercq, 2004).
Social capital scholarship studies both the network and the assets that can be mobilized through
it in an ecosystem (Bourdieu, 1986; Burt, 1992). Corporate innovation research often discusses
how market ties affect performance (Westlund & Bolton, 2003). However, the association
between an entrepreneur's personal networking and corporate innovation success is
inadequately investigated.
III. METHODOLOGY
This study uses qualitative methodology to investigate entrepreneurs' ecosystem. The focus is
on the complexity of the social world and how cosmetic MSMEs develop their practices within
their larger socio-cultural contexts, as well as how the emerging entrepreneurial ecosystem
affects their ability to innovate using social capital (resources). To offer richer, more complex
perspectives on innovation and social capital, the six chosen cases were examined using an
ethnographic methodology. Ethnography is helpful for evaluating societal concerns, where the
researcher focuses on “other people's interpretations of what they and their compatriots are up
to” (Geertz, 1973:9). This research concentrates more on the entrepreneurs’ experiences of
knowledge production, resource development for R&D, and innovation management with the
help of accessible social capital than it does on the innovation process itself. Therefore,
individual cases of innovation are not discussed in detail.
Unit of analyses
The research was conducted in Mumbai’s Cosmetic and Herbal Cosmetic Industrial cluster.
The six MSMEs were selected as cases to get a distinctive setting to examine the phenomenon
under investigation. MSMEs are businesses regulated and governed by the MSME Act of 2006.
The business of natural cosmetics (Ayurveda/herbal) in India is witnessing the fastest growth
at the rate of 15-20% per year, which is much higher than India’s overall cosmetics business
which has a growth rate of 7-8% and 3.00% (CAGR 2024-2028).
(https://www.statista.com/statistics; Datta and Paramesh, 2010). Since 2020, owing to the
government’s ‘voice for local’ initiative, the beauty and cosmetics market in India saw an
increase in indigenous companies with increasing demand for natural and organic products
(The Hindu, 2020).
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Table 1 presents an overview of the six selected cases, and Table 2 describes the socio-cultural
features of cosmetics MSME Entrepreneurs, which helps understand their relationships and
culture. An in-depth evaluation of entrepreneurs’ socio-cultural backgrounds helps understand
the influence of these parameters in social capital leading to the innovation process.
Table 1: Overview of selected cases
Table 2: Socio-cultural aspects related to the Cosmetics MSME Entrepreneurs
Sampling
The selected sampling method was purposive or judgmental sampling. This is based on the
typicality of the cases to be included in the sample. The case study facilitates a holistic
understanding of cultural systems of action, or sets of interrelated behaviours by social actors
(Yin, 2013). Sample cases must be taken for theoretical reasons, i.e., to expect comparable
(literal replication) or contrasting (theoretical replication) results or to eliminate alternative
explanations. Accordingly, multiple cases are picked following a conversation with
government personnel (MSME-Development Institute office, Mumbai) engaged in cosmetic
cluster development to satisfy objectives. Cases that indicate product/process/marketing
innovation potential are considered.
Participant observation and in-depth interviews serve as the key techniques of data collection.
Entrepreneurs, their families, suppliers, workers, and consumers were interviewed. Informal
discussions yielded positive results for discussing entrepreneur social capital acquisition and
its application in the innovation process, forming their ecosystem. Table 3 contains profiles of
cosmetic MSMEs and interviewees. Recognizing the relevance of cosmetic MSMEs’
Cases Establis
hment
year
Units Number of
Employees
Product Profile Dominant buyers Main Markets
KC 1992 1 15 Herbal,Ayurvedic
cosmetics
Beauty parlors, Distributors,
Malls, Hotel
National,
International
SO 1999 2 20 Cosmetics Beauty parlors, spas, resorts National,
JV 2009 1 35 Toiletries/Herbal
Cosmetics
Distributors, Malls, parlors,
spas, resorts
National,
International
BSH 1985 1 10 Ayurvedic soaps Seminars, beauty parlors,
shops, distributors
National,
FL 1957 4 400 Herbal cosmetics Shops, hotels, malls, big
cosmetics companies
National,
International
SN 2007 1 10 Herbal, marine spa
products
Distributors, Retail
showrooms
National,
International
Source: Interview
Entrepreneur Sex Age
(Years)
Education Ethnic
background
Family
background
Family
type
KC F 52 B. Com Jain-kachhi Service Joint
SO M 52 SSC Jain Business Joint
JV M 45 Chemical Eng. Jain Service Joint
BSH M 45 MA Jath Service Nuclear
FL M 78 Engineer Jain Business Joint
SN M 50 MSc. (Organic chemistry) Marathi Service Nuclear
Source: Interview
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entrepreneurial ecosystem, the unit of analysis was enlarged to incorporate social interactions
between entrepreneurs and groups (incubators, research labs, government training institutes,
raw material suppliers, distributors, customers, and family members).
Table 3: Profile of cosmetic MSMEs and interviewees
Firms Interviewees
Firm KC - A manufacturer and exporter of
Herbal, and Ayurvedic cosmetics. Established in
1992.
KC1 (CEO), KC2 (wife, head marketing and R&D),
KC3 (chief technical officer), KC4 (supplier), KC5
(consumer), KC6 (area distributor), KC7 (local research
lab)
Firm SO - A family firm set up in 1985, since
then engaged in Ayurvedic Soap manufacturing.
SO1 (CEO) SO2 (brother, Head of R&D), SO3
(customer beauty parlor)
Firm JV - Manufacturer, exporter, and retailer of
Ayurvedic and Herbal Cosmetics, begun
operations in 1996.
JV1 (Father of CEO), JV2 (CEO), JV3 (employee), JV4
(supplier), JV 5 (Head of R&D and Marketing)
Firm BSH - Set up in 1999, a manufacturer and
exporter of synthetic cosmetics
BSH1 (head of firm), BSH2 (cousin of the head and
technical advisor of firm), BSH 3 (employee), BSH4
(consumer)
Firm FL - Established in 1974, this firm is
engaged in manufacturing synthetic as well as
Ayurvedic cosmetics.
FL1 (head), FL2 (employee), FL3 (raw material
supplier), FL4 (university incubator), FL5 and FL6
(customer-salon owner), FL7 (consumer)
Firm SN- A manufacturer since 2007 later on
also become consultant in the area of
cosmeceuticals, nutraceuticals and cosmetics.
SN1 (CEO), SN2 (employee of firm), SN3 (wife of
CEO), SN4 (Guru or teacher ayurvedacharya), SN5
(consumer), SN6 (raw material supplier), SN7
(distributor), SN8 (consumer)
Other Interviews (OT) OI1 (Government officials), OI2 (local research lab),
OI3 (Incubators), OI4 (Food and Drug officer), OI5
(resort who is consumer), OI6 (coordinator)
Total Interviews 41
Source: Interviews by author
Analysis of data
The research uses thematic content analysis. Transcribed interviews, observations, and
informal discussion notes were analyzed using Braun and Clarke (2006)'s thematic analysis.
Data is coded to avoid the unique difficulty of finding trends in various case studies. A pre-
existing code system from the interview guide was used to code data and generate themes.
Speech acts captured verbatim are also used to record essential notions. Summary tables that
the literature interprets were created by continuously analysing and grouping codes, concepts,
topics, and sub-themes by social capital dimensions. Each case generates inter-site matrices
with respondent attributes and cross-case analysis data. Additionally, several examples and the
triangulation method are used to ensure results validity and dependability (Yin, 2013; Mathison
1988). Primary (interview) data was complemented by secondary (document analysis,
government and company websites, non-participative observation) data.
IV. FINDINGS
Cosmetics MSMEs Ecosystem and Dimensions of social capital
Thousands of cosmetics MSMEs in Mumbai are engaged in different capacities with the
peculiarity of having a strong social base. The cosmetics manufacturing MSMEs (cosmetics
MSMEs) is a successful industrial sector in Mumbai that rely on the traditional knowledge of
Ayurveda/herbal. Therefore, the knowledge sources make these MSMEs distinct from
conventional cosmetics manufacturers (Baghel, et al., 2014). The ecosystem of cosmetic
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MSMEs displays distinct characteristics due to Mumbai city’s uniqueness. Mumbai maintains
a unique identity as a mecca of fashion, the financial hub of India, a home for countless
immigrants, and a confluence of various cultural influences. The local MSMEs are involved in
a variety of complementary yet distinct activities that link them horizontally and vertically,
primarily building caste- and region-based groups and societies. Research establishes that local
enterprises can improve product quality through knowledge acquisition, learning by doing, and
state- and regional-funded research and development (R&D) initiatives (Ouechtati et al., 2022).
Large intra-cluster trade, local raw material supplier linkages, long-term local partnerships,
skilled workforce availability, rapid assistance of advanced technology, and national, regional,
and international linkages are ecosystem-level characteristics that facilitate entrepreneurs’
access to social capital. Social capital is a complex phenomenon, hence cannot understand
through a single factor. In fact, it requires many different dimensions to consider the dynamic
existence of the social context in the process of innovation. Therefore, by taking an exhaustive
view of social capital this study focuses on three dimensions of social capital. The following
sections explore each dimension of social capital in detail.
The structural dimension
The individual’s location within the network becomes more significant than the individual as
resources are enmeshed in social relations (Dakhli and De Clercq, 2004). The structural
dimension of social capital helps us understand an entrepreneur's role in ecosystem members'
networking connections and resources' embeddedness in social networks (Nahapiet & Ghoshal,
1998). Social capital growth depends on who you contact (Burt 1992). Most important to
entrepreneurs' social capital are their social networks, which include strong kinship ties based
on decades of reciprocal interactions, a close group of professional networks, and hierarchical
employee-employer relationships (which may or may not be exploitative). Family, friends, and
ethnic relations make up entrepreneurs' personal networks. They also work closely with
professional networks of raw material suppliers, distributors, and direct customers (beauty
parlour, spa, and resort owners). Research consultancies, government, and public labs meet
entrepreneurs occasionally. Entrepreneurs maintain formal contacts with government
regulatory organizations, research institutes, and trade groups like the Indian Women's
Industrial Network, Indian Home & Personal Care Industry Association, and Association of
Cosmetics and Toiletries Manufacturers. Entrepreneurs participate and improve themselves in
this dynamic ecosystem. Many entrepreneurs said that in current world of teamwork and
synergy, no one can succeed alone.
Diverse social networks affect entrepreneurial performance differently. As entrepreneurs use
structural embeddedness to get information and resources, it spurs innovation. Just as not all
networks contribute equally, not all networks are accessed equally for the same purpose. As
we will see in the coming sections, improving the structural dimension of social capital always
helps ecosystem members coordinate and collaborate.
Personal networks (kinship, friends, and ethnic ties)
In India, traditionally, businesses continue to be family and community-oriented. Although
they are influenced by modern lifestyles, their roots often embody community norms and
values. The same goes with cosmetics consumption, which is although influenced by modern
discourses, is very well embedded in the socio-cultural context (Jones, 2010). Therefore,
fostering value-added products necessitates considering people’s socio-cultural traits, behavior
patterns, and emotions. As BSH2 states that “businessperson’s personal networks increase their
likelihood of decoding customer aesthetic beliefs and developing culturally relevant products.”
Informal social gatherings like marriages, birthday parties, and festivals usually act as a social
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space where an ecosystem gets enriched with discussions on beauty, wellness, and lifestyle
forming common ground for strengthened stable and value-added relationships. As narrated by
KC1,
“We commonly encounter relatives and friends at parties who grumble about
existing beauty products or discuss various beauty issues. During such discussions,
our group frequently discovers synergies, such as if I don’t have a specific raw
material, I’ll inquire and find out that my friend has it, and I will purchase it from
him.”
In the cosmetic MSMEs ecosystem, the presence of coordinating entities fosters value creation
through entrepreneurs’ personal ties generating knowledge and resources that these
entrepreneurs apply to enrich their technical ability.
Cosmetics MSMEs often include friends and family in beta testing new products before their
public distribution. It provides multiple advantages for companies, including avoiding
significant losses from failed products and providing ample time and testing before the pre-
launch phase to enhance the final product. Furthermore, involving close connections to try out
beauty goods before they are officially released offers the innovator dependable feedback. As
JV2 highlights, “After creating a new product, I first give it to my family. As per their review
adjustments are done in the final product”.
The significance of social capital derived through personal networks appears to be more
pronounced for entrepreneurs who lack the human capital accumulated via education and
professional experience. As in the case of ‘SO1’ who lacks both a degree in cosmetic science
and professional expertise. Nonetheless, this lack in human capital appears to be compensated
for by the entrepreneur’s social capital derived through personal ties. As he states
“My father used to own a small soap manufacturing unit. During my school years,
while assisting in his business, I met his associates and other members of the soap-
making community. When I acquired full responsibility for this firm following his
passing as the eldest son, I benefited from already existing networks. I still have
many friends and community members for support.”
Personal network-based collaboration that is well-organized is the foundation of many
entrepreneurial endeavours. This confirms what Burt (1992, p. 9) asserts regarding friends,
colleagues, and personal interactions as chances for actors to utilise their intellectual, financial,
and human capital.
Professional networks (govt and private groups, suppliers, and customers)
The ecosystem also includes professional networks that serve as providers of knowledge,
information, and resources (material, and non-material). As KC3 points out, “In business,
knowledge alone is not sufficient. Who you know has a stronger influence on your growth.”
Their professional networks are comprised of reliable and effective communication channels
that have evolved across organizational boundaries over time. In Ayurveda cosmetics, identical
substances are used for different solutions; as a result, entrepreneurs are frequently interested
in the properties of a certain ingredient. SN1 (entrepreneur) explained that
“Multiple ingredients, such as plant extracts, are used to treat a variety of skin
conditions, but we know very little about them. During such time we consult raw
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material suppliers or lab technicians. This individual (pointing to raw material
supplier SN6) informed me that cosmetic compounds comprising plant stem cells
are currently fashionable.”
In response to this, SN6 adds, “Entrepreneurs frequently convey to us their demand for certain
ingredients as well as specific solutions or remedies for specific problems, and
sometimes during our discussions we come across a whole new idea.” The benefits of raw
material suppliers for enterprises are not only the provision of raw materials but also the
technical expertise required to extract the most value from a substance (Biswas, 2007).
For cosmetics MSMEs, this aligns with what Tidd and Bessant (2009) say “networking
presents a powerful solution to the resource problem – no longer is it necessary to have all the
resources for innovation under one roof provided you know where to obtain them and how to
link up with them” (p. 149).
In professional networking, beauty parlours are one of the much sought-after networks by these
entrepreneurs. With the development of web marketing tools, cosmetics end-users can be
reached directly. However, it’s hard to understand how different people see beauty. Hence,
beauty parlours have become the best medium to figure out what people want from beauty
products and services. Beauticians in beauty parlours serve as consultants for people’s beauty
issues (Baghel, et al., 2014). Consequently, this face-to-face communication ecosystem
strengthens entrepreneurs’ conceptual and social understanding of beauty often resulting in the
creation of innovative beauty products. As the ‘SN’ expresses, “during one of my conversations
with a salon owner, I became aware of the emerging health risks among beauty product users
due to the use of unhygienic cosmetics. Then I realised the need of having one time use tiny
containers for products to prevent waste and preserve hygiene, which seems difficult to
attain with large bottles.” The beauty parlors provide a relevant field environment of beauty
that serves as a catalyst for the innovation process. He further elaborates,
“After consulting the bottle supplier, I commence my hunt for a bottle that is
financially feasible for a small parlor without sacrificing quality. As a result, I am
launching single-use containers for facial products.”
By offering user accounts, parlours help entrepreneurs navigate information-deficient MSMEs
environments. Moreover, a trust-based system between beauty salons and cosmetic MSMEs is
stable and shared among its members. Consequently, this relational dimension also exists and
is strongly interdependent on the structural dimension.
The relational dimension
The norm and trust that determine the strength of relationships (Coleman, 1988) and promote
coordination and collaboration between actors for mutual gain are at the heart of this dimension
(Putnam, 1995:67). Entrepreneurs’ social network integration strengthens their participation
and acceptance of a normative professional environment. This normative structure is
contributory to the establishment of trust, leading to communication and cooperation between
different players in cosmetic MSMEs’ ecosystem. The relational dimension is got cemented
through entrepreneurs’ family environment and their values system (Shi, et al., 2015). The
structural position of entrepreneurs has created strong ties between them and their family,
friends, and community people that allow them to use community resources. For example, JV,
the entrepreneur, expresses
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“We benefit from our close networks of community people. I trust them, which is
why I use their knowledge and information; our relationship is guided by mutual
understanding”.
Specifically, it has resulted in norms and behavioural patterns more suitable for cosmetics
business development. SN1 described these tacit underpinnings, “the family plays a crucial
role in terms of the socialization and familiarization of entrepreneurs with entrepreneurial
values related to the Ayurveda/herbal cosmetics manufacturing”.
To manufacture cosmetics, MSMEs usually employ tacit knowledge of Ayurveda/herbal, the
embodied form resided in family traditions (Agrawal, 1995). Therefore, embeddedness in
social networks and a normative understanding favourable to Ayurveda cosmetics production
are shaping cosmetics manufacturing practices. Through a familial socialisation process,
entrepreneurs strive to internalise and normalise the circumstances that foster their businesses.
As FL1 states, “I encourage my children to get an education in chemical or organic chemistry
which will benefit our business. Then reading Sanskrit texts are regular habit inculcated in
them. This I learn from my father”. Here we see the habitus being shaped by every day practices
without dictating what is appropriate for the discourse. Rather, social networking implicitly
inculcates the knowledge relevant as per the social context. Precisely, Putnam (1995) sees it as
a generation of taste owing to community participation. Here, the generation of social capital
is contingent on trust originating from common descent and hence common socialization. On
asking about whether his way of doing business bears the imprints of his family culture, the
SO1 responded,
“Well, yes. We grew up seeing our father engaged in the Ayurveda business,
discussing it. In our family, we are always engaged in discussions at the dinner
table that revolve around Ayurveda and herbal soaps, people’s current perceptions
of cosmetics and toiletries, so it is naturally ingrained in our system.”
Moreover, other members of the ecosystem who adopts the norms, and develop similar trust in
entrepreneurs are professional networks (suppliers, distributors, and customers). Here, trust is
the result of absolute faith in each other’s competence and commitment, which governs their
relationships. The beauty salons both as direct customers and mediators between end-users and
producers are an integral part of the professional networks of entrepreneurs whose networking
is founded on a profound trust in one another’s abilities. The entrepreneur F1 states, “Beauty
parlours are a place for introducing your brand to end users and fostering trustworthy
relationships with them. Due to their expert position in the beauty market, beauty salons
become a valuable source to contact customers”. When beauty salons trust cosmetics MSMEs
as credible distributors, they offer their help. Thus, mutual faith in each other’s competency is
crucial for networking and maintaining ties among cosmetics MSMEs’ ecosystem participants.
Entrepreneurs exhibit their allegiance and trust in the community, as Putnam (1995) suggests.
There is a strong bond of loyalty, solidarity, and mutual respect among the members. “We
come from different areas of expertise, but we are linked and exchange knowledge with those
we have confidence in.” An examination of the social capital’s relational aspect indicates that
members must respect the obligations of the ecosystem to build trust in their relationships.
The cognitive dimension
Cosmetic entrepreneurs are emphasizing cognitive social capital through shared interactions
and mutual aims. A common framework for interpretation is established by language, codes,
storytelling, and entrepreneurial culture as described by Nahapiet and Ghoshal (1998) and
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Inkpen and Tsang (2005). The members in this ecosystem share a common understanding of
Ayurveda knowledge, cosmetic preparations, marketing, and MSME issues, which frequently
leads to “shared representations, interpretations, and systems of meaning among parties”
(Nahapiet and Ghoshal, 1998). The cognitive framework of MSMEs is rooted in India’s
sociocultural milieu of natural beauty. Modern and historical cosmetic industry technical
advances have inspired their Ayurveda cosmetic manufacturing concepts. These entrepreneurs
have created a shared culture in which they create codes, narratives, and a language and use
the same entrepreneurial support mechanisms to achieve their aims. They subtly share beauty
business conventions, values, principles, and policies with each other's trusted networks.
‘meaningful communication’ based on a shared ‘interpretive framework’ mobilizes resources.
Communicative language, codes, and narratives help entrepreneurs obtain commercial
resources for natural cosmetics (Bourdieu, 1986). “The business language is natural to me and
an integral part of my everyday life, as we routinely have comparable conversations at home,”
says the BSH2 technical advisor and entrepreneur’s cousin. The common environment of
beauty in beauty parlors and spas allows ecosystem members to communicate and generate
new beauty product ideas. The parlour owner, an Ayurveda ingredient supplier, my guru, and
a local distributor who handles marketing make up our team of five. Knowing Ayurveda's
beauty benefits makes us trust each other.” Entrepreneurs share beliefs and cultural ethics for
business and resource generation. Their education and cosmetics industry experience have
given them insight, decision-making abilities, and values. All of this fosters an environment in
which entrepreneurs collaborate to benefit from one another’s expertise.
Establishing partnership firms with tight-knit networks is a common phenomenon. N1 says
“my first commercial endeavour was a collaboration with a college classmate who was also a
chemical engineer.” Eklinder-Frick et al. (2014) and Wang et al. (2017) also address how
regional business alliances boost innovation and entrepreneurship. Associational activity, a
crucial component of social capital (Wang et al., 2017), typically leads cosmetic MSMEs to
recognize opportunities and innovate. Entrepreneurs benefit from joining professional bodies,
organizations, conferences, workshops, and trade fairs. Creating “shared systems of meanings”
during professional meetings also involves cognition (Nahapiet & Ghoshal, 1998). In these
meetings, meaningful conversation and discussion to optimize entrepreneurial processes are
encouraged. As states entrepreneur from KC1.
“You are more likely to meet like-minded people in your line of work. You
understand the rules and regulations, as well as what is and is not sellable in the
beauty industry.”
Entrepreneurs engage in participatory activities that lead to the development of a cosmetics
habitus through their collective comprehension of norms, values, and the rules of the social and
cultural context. Nevertheless, the habitus created through engagement in social activities does
not benefit all individuals equally. Entrepreneurs' different socialization processes lead to
varying habitus formation, influencing their views on business operations and impacting their
success in public arenas. Entrepreneurs from non-business families are acknowledged to
possess less relational and cognitive social capital compared to entrepreneurs from family-
owned firms (Tidd and Bessant, 2009). Non-business family entrepreneurs may feel
disoriented during business events due to their lack of common norms and values in
socialization. For example, as SN1 indicates,
“I am a member of AISSCMAi
, but I rarely attend the meetings as there is a huge
lobby that works there, like caste and community lobby. Your personal relations
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are more important. In my earlier days, I couldn't grasp the code phrases people
use thus I felt lost. Now I have enough vocabulary.”
Concisely, quotes from the interviews reinforce that entrepreneurs’ cognitive social capital is
heavily influenced by their structural and relational dimension of social capital.
The cognitive aspect is seen to be developing inside the informal organizational structure of
cosmetics MSMEs. Entrepreneur KC1 says, “I communicate with my employee each and every
detail of the business, we work as a family where everyone shares their view on cosmetics
manufacturing”. Informal communication between entrepreneurs and employees increases
trust and cooperation by involving individual interpretation. JV3, an employee says, “We
frequently have informal get-togethers with our boss after work to discuss business-related
matters, such as the creation of new products and their enhancements.” As a sole proprietor, an
MSMEs entrepreneur is related to every department. Personal task management affects
meaningful employee interactions and a culture that promotes cognitive social capital growth.
Entrepreneurs learn and share by incorporating employee, supplier, consumer, and personal
network input into decision-making (Westlund, and Bolton, 2003).
Social capital and innovation process
Innovation is a process that generates value by creating new entities or integrating existing and
new resources. Firms must mobilise resources and acquire new skills and knowledge in order
to innovate. However, resource management is an expensive process for small firms
(Rosenberg, 1982). The ecosystem is conducive to resource mobilisation and usage, enabling
entrepreneurs to create value by granting them access to intellectual, financial, and cultural
resources (Bourdieu, 1986). Specific to the innovation potential of the firms, literature has
extensively discussed the relevance of social capital in the development of intellectual capital
and technological advancement leading to innovation (Eklinder-Frick et al., 2014; Wang et al.,
2017; Dakhli and de Clercq, 2004). However, this research suggests that although each
individual dimension contributes, all three dimensions of social capital are interrelated and
interdependent, hence operating synergistically to improve the innovation performance of these
MSMEs. This supports the research, which states that three dimensions of social capital are not
mutually exclusive but interconnected (Ouechtati, et al., 2022)
Similarly, different dimensions of social capital together influence the innovation process
owing to these dimensions capable of converting into each other (Wang, et al., 2017). The
structural dimension influences the acquisition and utilisation of knowledge by providing
entrepreneurs with resourceful networks. It has been noted that entrepreneurs cultivate social
relationships with whom they maintain frequent interaction and produce new knowledge
pertinent to the development of their business. The relational component provides information
about the quality and content of social networks that support innovation in cosmetics MSMEs.
The ‘collective mind’ of social networks engaged in innovation is expressed in the cognitive
components that act as a base for idea generation, deriving the know-how, technology, and
resources from multiple sources.
The language of cosmetics manufacturing has spawned ecosystem-specific codes and concepts,
as well as a structure in which enterprises share expertise, and financial and other resources.
The entrepreneur SN1 reveals the necessity of possessing high-quality, resource-rich networks.
“My previous job at a cosmetics firm taught me cosmetics manufacturing. My
experience has helped me discover new technologies and develop new things by
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combining what I've learned from prior supervisors with input from my family,
consumers, and raw material suppliers. My latest Herbceuticals breakthroughs
combine cosmetic technology and herbal understanding. This is a niche product
commonly used in cities, but I developed it with native herbs and sold it to native
requirements, such as Himalayan apple fruit for Himalayan resorts. I thought of
this at a Himalayan trade show.”
The embodiment of common notions of beauty is woven into the social fabric of society.
Therefore, for entrepreneurs professional and personal gatherings frequently serve as fertile
ground for the development of novel ideas and concepts. Thus, we observe that innovation
results from the combination of tangible and intangible capital, as well as unpredictable and
extended interactions between entrepreneurs and their networks.
The relevant knowledge used in the innovation process is Ayurveda/herbal knowledge that
exists in the family traditions of entrepreneurs, mostly in tacit form. Knowledge is not
individually located but exists in the collectivity of relationships. The transfer of tacit
knowledge requires extensive face-to-face interactions and the development of social relations
that fundamentally influence its transfer (Agrawal, 1995). JV2 states “I learned ayurvedic
formulations from my father, who learned them from his local teacher. Ayurvedic expertise
runs in our family. Therefore, we can afford to conduct business.” Entrepreneurs’ personal and
professional ties are characterised by a wealth of information, allowing them to amass a high
order of social capital. For entrepreneurs, their relationships are not just resources but part of
their life. These social networks are founded on gratitude, reciprocity, respect, friendship, and
mutual knowledge and recognition among social actors. The entrepreneurs in most cases testify
to the sharing of expert knowledge and practices with family and close community friends.
Thus, a common occurrence is that trust-based relationships are cherished for sharing
technological knowledge and tools to satisfy the market demand.
Common language, codes, and norms related to cosmetics and beauty have resulted in the field
of beauty (Baghel, et al., 2014). Within this schema, entrepreneurs aptly exploit the current
symbolic value of Ayurveda/herbal cosmetics as a pure form for human wellbeing. Hence, we
witness the frequent use of the words like natural ingredients, the craze for natural cosmetics,
multipurpose beauty products, and healthy lifestyle-based products as inputs in their ideas by
these entrepreneurs. Here, common norms are acting as a base to form the relationships
between the firms. The expression of SO1, an entrepreneur explains how the development of
incremental innovation happens from already generated ideas of beauty and the circumstances
under which social capital is exploited, “our involvement in the family firm, which is already
involved in cosmetics manufacturing, instills the principles required to produce
Ayurveda/herbal cosmetics. Our ongoing relationships with suppliers, distributors, and
customers provide us access to market gaps and possible opportunities, which shape our
decisions regarding new product development. My almond-based soap, for instance, exploits
the popular adage that almonds provide us with strength. I applied this concept to contemporary
soap production and launched my almond-shaped soap to the market. The same natural
ingredients are used.”
Entrepreneurs decode values, norms, behavioural patterns, and perceptions with the help of
networks to embody acceptable symbolic meanings in the beauty field. The goal is to provide
goods that adhered to field-specific standards and could meet user demand. This is in
accordance with a previous study, which shows that entrepreneurs may take honest criticism
and genuine feedback on their products because of their ties (Wang et al., 2017; Jack, 2005).
A significant argument that the study posits is that complex communication networks accord
continuity to knowledge development. Therefore, innovation can be established as a process
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perform through social influences and interactions (De Clercq and Voronov, 2009). It is not
that these actors contribute on their own; rather, the entrepreneur has to maintain and facilitate
the communication flow to reap maximum benefits.
V. DISCUSSION AND CONCLUSION
This study demonstrates how different dimensions of social capital contribute subtly to the
innovation process of cosmetic MSMEs. It illustrates that the transformation of one dimension
of social capital into another within the ecosystem enriches the innovation process. The
possession and transmission of Ayurveda/herbal knowledge and resources within personal and
professional networks form a complex web of interdependent ties (structural dimension). This
structural aspect fosters partnerships through common norms and trust (relational dimension).
In addition, an entrepreneur's position in the network is strengthened by common goals
(cognitive dimension), which aids the search for and mobilisation of ideas, partners, and
resources for innovation. Thus, the significance of this research lies in its attempts to explain
how networks, trust, and norms all contribute to MSMEs’ innovation success in a holistic
manner.
The results contribute to the social capital and innovation management literature. Extant
research on social capital for innovation mostly focuses on firms’ access to tangible external
resources, such as distribution channels, and external firms (Eklinder-Frick et al., 2014;
Thomas and Autio 2013). In contrast, this study highlights the significance of social capital in
gaining access to both tangible and intangible resources for innovation. Strong evidence exists
for MSMEs’ local market affiliation and industry norms that progressively promote the
resource-rich feature of collaborative work culture (Ouechtati et al., 2022; Reidolf, 2016; Jack,
2005).
Much of the discussion surrounding network configuration in the literature has centred on
Granovetter’s (1977) concept of weak vs strong ties. Families, friends, and communities can
be classed as strong ties in terms of entrepreneurs’ personal networks because they exhibit
multiple interactions among themselves (Coleman, 1988). In MSMEs, patenting is still not
frequently accessed to protect novelty; thus, knowledge is kept secret through social networks
to gain a competitive advantage. Most cosmetics MSMEs are family enterprises where
innovation is kept secret within the family. Even though there is informal communication
happens between entrepreneurs and diverse networks, it is witnessed that Ayurveda knowledge
necessary to make innovative cosmetics is transferred from one generation to another in tacit
form. This aspect again makes strong ties an important form of social capital, contributing to
innovation processes in MSMEs.
However, the question that needs to be raised is whether the professional ties of entrepreneurs
should be classified as either strong or weak ties. As stated previously, there were close and
frequent connections between entrepreneurs and their suppliers, distributors, and beauty salons
(as a consumer). There are also cases in which professional networks include friends and
community members. Given the diversity of connections and, in particular, the overlap between
personal and professional relationships, it is disputed whether the distinction between strong
and weak links is always required. This study, hence argues that not all business networks fit
neatly into the divide between strong and weak ties.
In assessing the importance of social capital in innovation, network quality and content are
more crucial than network density. Regarding cosmetics MSMEs, the majority of entrepreneurs
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are connected by a small number of ties, where they benefit from the quality of their networks.
Thus, the findings contradict the existing literature on entrepreneurial networks, which suggests
that a greater number of links leads to a more extensive network that favours the organisation
(Dubini & Aldrich, 1991).
According to earlier research, start-ups may benefit from strong ties in the beginning but later
on, in the firm’s life cycle, they may become overly dependent on their network of strong links,
which makes their networks detrimental to the performance of the firm (Davidsson, and Honig,
2003). Entrepreneurs are content with their networks and fail to extend their reach, which
hinders their ability to find further networks for resources (Jack, 2005). Contrary to
this, cosmetic MSMEs typically engage with both strong and weak ties, albeit for different
reasons. Networking with strong ties often seeks to gather innovative information (in this case,
Ayurveda knowledge), whereas weak ties are contacted to collect leftover resources. Therefore,
early networking with strong ties does not hurt these MSMEs, as they know how to use it.
Moreover, it is witnessed that firms, who better able to balance both strong and weak ties are
benefitted from both ties.
ATN studies often face criticism for emphasizing networks with experts and research labs and
technical areas, and it often neglects the wider institutional context (Williams, & Edge, 1996)
in which innovators are situated. This calls for broadening the ecosystem-based analysis to the
network theory in order to extend its reach beyond the laboratory and adjust it toward the
complexities inherent in social networking.
The findings indicate that social capital exists in social interactions, but its development
depends on actual practices of trustful relationships, codes, languages, and norms. Exploring
three dimensions of social capital helps to understand the complexities with which social
capital becomes productive or detrimental to the process of innovation. In this way, this
research suggests that researchers, as well as policymakers, need to remain vigilant for different
dimensions of social capital to realize the subtleties inherent in social capital. This will also
include notification of the community ecosystem along with individual relations while
designing interventions. While networks show resources, the habitus of the entrepreneurial
ecosystem helps us to understand the usability of those resources and thereby facilitate their
full realization for innovation. This study highlights the need for studying the ecosystem-based
rich description of business-related familial and ethnic linkages that constitute a tightly knit
community-based trade enclave, embodying traditional skills, knowledge, and resources.
This research thus proposes that, in addition to technological indicators, ecosystem-based
studies will exert a considerable impact on our holistic understanding of the innovation process.
Specifically, in the future, for resource-constrained MSMEs, robust empirical evidence-based
research is needed to explore ecosystems that significantly influence the entrepreneurial
process of social capital generation for innovation.
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i
All India Small Scale Cosmetic Manufacturers Association