Book review: Small business in a global economy: Creating and managing successful organizations

Abstract

Twenty-five papers explore the behavior and decision making of owners and managers of small businesses, the operational and strategic challenges they face and the strategies they implement in response to them, the environmental constraints on their businesses' ability to be successful, and the role their businesses play in the larger economy. Volume 1 focuses on the small-business owner while volume 2 focuses on the operational concerns of, and environmental factors impacting, small businesses. Papers in volume 1 discuss small businesses' share of employment--charting the course over the last three decades; the motivations underlying small-business formation--an overview and empirical examination of self-efficacy and commitment; the irrational benefits of small-business ownership--constructing economic well-being in business-owning households; effectual decision making--applications for small businesses; women- and ethnic-minority-owned businesses--an overview of current research and future trends; the A-GES (architecture, governance, entrepreneurship, and stewardship) framework--understanding the family-business difference; institutional influences on entrepreneurial orientation in small businesses--a nine-country investigation of political and economic risk; the opportunity recognition and growth orientation of small-business founders; entrepreneurial storytelling--an institutional tale; personal networks and networking behavior of small-business owner-managers--how to make networks work; substituting resourcefulness for resources in small businesses; and market entry timing decisions--a formal modeling perspective. Papers in volume 2 discuss managing the small firm for growth--cocreating stakeholder value propositions; technology-driven innovation--roles and implications of technology capabilities and the environment for the success and survival of small businesses; the effect of top management-team networks on innovation--a comparison of large and small organizations; balancing institutional forces and strategic demands in adopting high-performance work-systems practices in small innovative firms--an overview and empirical analysis; a review of family businesses and how they internationalize; a longitudinal analysis of strategizing by social entrepreneurs; small business exit--a review of past research, theoretical considerations, and suggestions for future research; geographic-cluster regional influences on innovation--outcomes for small businesses; institutional impact on small-venture exporting--differences between developed and emerging market economies; regional banking development and small-business growth--evidence from China; small firms in transition economies--challenges and opportunities; overcoming hurdles for commercializing emerging technologies--the harbingers of Schumpeterian cycles for superior economic rent; and public-policy assistance for American small business--promoting supports and reducing impediments. Newbert is Associate Professor of Management, Harry Halloran Emerging Scholar in Social Entrepreneurship, and Anne Quinn Welsh Faculty Fellow in Honors at Villanova University. Index.