The world entrepreneurial scenery, being under constant evolution because of globalization and the current international crisis, has changed corporate competition, requiring companies to meet such key-factors to succe...The world entrepreneurial scenery, being under constant evolution because of globalization and the current international crisis, has changed corporate competition, requiring companies to meet such key-factors to success as increased organizational flexibility and innovative development of their structures and products. Thus ＂NTBF＂ （New Technology Based Firms） are increasingly developing, that are able to act both as a major player in the innovation process, and as a link between the market and the production world and that need not only venture capital to cope with the large initial investment, but also such figures that, with their leadership qualities, are able to anticipate the market development. As a result, the emergence of the knowledge society has increasingly driven companies to search for new business figures, playing both the role of financing partners and of valuable support to the entrepreneur in running a business. Such distinguishing characteristics appear to be peculiar to the figure of the business angel that, thanks to the know-how and international contacts, acts not only as a simple partner but also as a leading force within the company, who is able to simplify the decision process of the business and drive it to plan profitable investment and winning strategies. Therefore, the present work is aimed at understanding how such a figure is crucial to the development of new companies operating in emerging economies being, as well, technologically advanced, as it is the case for Estonia, which is called the ＂Silicon Valley of the Baltic Sea＂. Thus, the work will first focus on the functions, organization and the benefits resulting from the involvement of business angels and, secondly, on the reasons why this figure is preferable to other operators involved in venture capital, namely venture capitalists. Finally, the good practices implemented in Europe by the various associations of business angels will be analyzed, paying particular attention to the Italian context, in order to consider the opportunity to develop, even in the Baltic Republics area, a similar institution being able to ensure, by promoting contact between entrepreneurs and business angels, the proper development of businesses, especially starting-up companies.展开更多
This study elaborates that the economic growth of a country depending on not only the business performance of the investor owned firms （IOFs）, but also the business surplus of the cooperative organizations （Co-ops...This study elaborates that the economic growth of a country depending on not only the business performance of the investor owned firms （IOFs）, but also the business surplus of the cooperative organizations （Co-ops）. The policy maker should have the level of understanding and competence to blend five different factors related to organizational structure and business model of the Co-ops and the IOFs to the five similarities factors on the managerial approach of them into one marked. The study investigated five similarities factors and included into a conceptual structural model with its six measurement models, economic growth model, general national factor model, market and industry factors model, Co-ops/IOFs opportunities/threat model, Co-ops/IOFs strength /weakness model, and lastly the Co-ops/IOFs firm dynamic/active： sales, profit, and lost model. Reliability of the six similarities measurement models was tested by the Delphi technique with a sample of 33 respondents. The study found that, apart from the six measurement models, it also has two intervening factor variables that will reduce the power and magnitude of the economic growth which will come from mismanagement of policy maker： These factors are the different in intemational culture among countries, and the global warming and natural disaster from the excess consumption and excess production. These selfish, competition and economic greedy of people will lead to economic, social, and natural disaster problems. To reduce the socioeconomic disadvantages and global disaster, board＇s committee, and Co-ops manager as well as chief executive officer （CEO） of the IOFs must have a good understanding on these five similarities factors. Appropriate management of these five similarities factors will lead the firms to reach their high managerial efficiency, customer value, firm value, and finally economic growth.展开更多
文摘The world entrepreneurial scenery, being under constant evolution because of globalization and the current international crisis, has changed corporate competition, requiring companies to meet such key-factors to success as increased organizational flexibility and innovative development of their structures and products. Thus ＂NTBF＂ （New Technology Based Firms） are increasingly developing, that are able to act both as a major player in the innovation process, and as a link between the market and the production world and that need not only venture capital to cope with the large initial investment, but also such figures that, with their leadership qualities, are able to anticipate the market development. As a result, the emergence of the knowledge society has increasingly driven companies to search for new business figures, playing both the role of financing partners and of valuable support to the entrepreneur in running a business. Such distinguishing characteristics appear to be peculiar to the figure of the business angel that, thanks to the know-how and international contacts, acts not only as a simple partner but also as a leading force within the company, who is able to simplify the decision process of the business and drive it to plan profitable investment and winning strategies. Therefore, the present work is aimed at understanding how such a figure is crucial to the development of new companies operating in emerging economies being, as well, technologically advanced, as it is the case for Estonia, which is called the ＂Silicon Valley of the Baltic Sea＂. Thus, the work will first focus on the functions, organization and the benefits resulting from the involvement of business angels and, secondly, on the reasons why this figure is preferable to other operators involved in venture capital, namely venture capitalists. Finally, the good practices implemented in Europe by the various associations of business angels will be analyzed, paying particular attention to the Italian context, in order to consider the opportunity to develop, even in the Baltic Republics area, a similar institution being able to ensure, by promoting contact between entrepreneurs and business angels, the proper development of businesses, especially starting-up companies.
文摘This study elaborates that the economic growth of a country depending on not only the business performance of the investor owned firms （IOFs）, but also the business surplus of the cooperative organizations （Co-ops）. The policy maker should have the level of understanding and competence to blend five different factors related to organizational structure and business model of the Co-ops and the IOFs to the five similarities factors on the managerial approach of them into one marked. The study investigated five similarities factors and included into a conceptual structural model with its six measurement models, economic growth model, general national factor model, market and industry factors model, Co-ops/IOFs opportunities/threat model, Co-ops/IOFs strength /weakness model, and lastly the Co-ops/IOFs firm dynamic/active： sales, profit, and lost model. Reliability of the six similarities measurement models was tested by the Delphi technique with a sample of 33 respondents. The study found that, apart from the six measurement models, it also has two intervening factor variables that will reduce the power and magnitude of the economic growth which will come from mismanagement of policy maker： These factors are the different in intemational culture among countries, and the global warming and natural disaster from the excess consumption and excess production. These selfish, competition and economic greedy of people will lead to economic, social, and natural disaster problems. To reduce the socioeconomic disadvantages and global disaster, board＇s committee, and Co-ops manager as well as chief executive officer （CEO） of the IOFs must have a good understanding on these five similarities factors. Appropriate management of these five similarities factors will lead the firms to reach their high managerial efficiency, customer value, firm value, and finally economic growth.
