Entrepreneurial research turned to focus on the business man or women, to analyze these individuals in more detail. Many entrepreneurial research directions developed since that time. One of those concentrates on the group of entrepreneurs, whose main characteristic is to own and lead two and more business simultaneously. As a consequence, this diploma thesis main goal is to study this valuable group of entrepreneurs. The outcomes of this analysis come up with certain attributes describing the group of portfolio entrepreneurs. This is important for certain reasons. The group of portfolio owners distinguishes itself from other groups of entrepreneurs above all in the way of doing business, the motivation to lead this business and many others attributes. This will answer many questions about the phenomenon portfolio entrepreneur, from the theoretical research as well as the empirical viewpoint. This study encompasses a set of interviews with real portfolio entrepreneurs with the sample of ten individuals.
It delivers new insights about the personality and abilities, capabilities, skills and traits of portfolio entrepreneurs. Thus delivers a special significance for the development of portfolio entrepreneurship, which is derived from the entrepreneurship research. Furthermore this diploma thesis represents a kind of forerunner in this research area for the Slovak Republic as no comparable research done on this theme could be researched during the conducting of the analysis.
The reader will have the chance to find out valuable information about the state of the art literature contributed by other authors in the theoretical part of this thesis. This literature research has been developed from English speaking literature and is notified at the end of the diploma thesis, what makes it affordable for subsequent studies. Subsequently, the results of this study, which has been built on the grounds of extensive literature review, will be presented in the results part. These results have been obtained by a series of in-depth interviews with researched successful portfolio entrepreneurs. In consequence the results come up with new, until now not researched results presented in a very user friendly kind, enriched by citations of portfolio entrepreneurs, expressed during the in-depth interview.
Table of Contents
1 Introduction and objectives
1.1 Portfolio entrepreneurship in Slovakia
1.2 Research objectives, delimitation and research questions
1.2.1 Objectives
1.2.2 Delimitation
1.2.3 Research questions
1.3 Structure of the diploma thesis
2 Definition of portfolio entrepreneurship
2.1 Entrepreneurship definition review
2.1.1 Novice entrepreneur
2.1.2 Serial entrepreneur
2.1.3 Portfolio entrepreneur
2.2 SME´s in the context of portfolio entrepreneurship
2.2.1 Quantitative SME approach
2.2.2 Qualitative SME approach
2.3 Slovakia and CEE region
2.4 Entrepreneurial structure
2.4.1 Joint stock Company
2.4.2 Limited liability Company
2.4.3 Sole Trader
2.5 Trait & behavioural approach
2.5.1 Trait approach
2.5.2 Behavioural approach
3 Theoretical Part
3.1 General motivations to become self-employed
3.1.1 Pull Influences
3.1.2 Push influences
3.1.3 Entrepreneurial Traits
3.1.3.1 Need for achievement
3.1.3.2 Need for autonomy
3.1.3.3 Locus of control
3.1.3.4 Risk-taking propensity
3.1.3.5 Entrepreneurial self efficacy
3.2 Motivations to become a portfolio entrepreneur
3.2.1 Background and motivations
3.2.2 Entrepreneurial search process
3.2.3 Financing business process
3.2.4 Organizational capabilities
3.2.5 Entrepreneur and business performance
3.3 SME´s clustering in peripheral locations
3.3.1 Stable, independent survivors with no growth aspirations, operating local markets
3.3.1.1 Characteristics of entrepreneurs
3.3.1.2 SME´s life cycle
3.3.1.3 Strategic choices
3.3.1.4 Success and survival factors
3.3.1.5 Recapitulation of the most important facts
3.3.2 Innovator with continuous growth, operating in growing markets
3.3.2.1 Characteristics of entrepreneurs
3.3.2.2 SME´s life cycle
3.3.2.3 Strategic choices
3.3.2.4 Success and survival factors
3.3.2.5 Recapitulation of the most important facts
3.3.3 Efficiency-oriented networker with leap-wise growth
3.3.3.1 Characteristics of entrepreneurs
3.3.3.2 SME´s life cycle
3.3.3.3 Strategic choices
3.3.3.4 Success and survival factors
3.3.3.5 Recapitulation of the most important facts
3.3.4 Comparison of survival factors of the three clusters
3.4 SME´s management in context of portfolio entrepreneurship
3.4.1 Management and entrepreneurial teams
3.4.2 Management team
3.4.2.1 Advantages of a management team
3.4.2.2 Disadvantages of a management team
3.4.3 Entrepreneurial team
3.4.4 Strategies to setup a management respectively entrepreneurial team
3.4.4.1 Management Buy-Out (MBO)
3.4.4.2 Management Buy In (MBI)
3.4.4.3 Buy-In Management Buy-Out (BIMBO)
4 Empirical Part
4.1 Research methodology
4.1.1 Quantitative vs. Qualitative approach
4.2 Qualitative research design
4.2.1 In-depth Interview
4.2.1.1 Cost and Time
4.2.1.2 Background research
4.2.1.3 Limited access to the interviewee
4.2.2 Conducting the in-depth interview
4.2.2.1 Location
4.2.2.2 Interview schedule
4.2.2.3 Analysis
4.3 Conducting research
4.3.1 Search for portfolio entrepreneurs
4.3.2 Taking initial contact
4.4 Results presentation
4.4.1 Interview structuring
4.4.2 General information’s about portfolio entrepreneurs
4.4.3 Push/Pull factors
4.4.4 Traits approach
4.4.5 Motivation to become Portfolio Entrepreneur
4.4.5.1 Background & motivations
4.4.5.2 Entrepreneurial search process
4.4.5.3 Financing business process
4.4.5.4 Organizational capabilities
4.4.5.5 Entrepreneur and business performance
4.4.6 SME´s clustering in peripheral locations
4.4.6.1 Stable, independent survivor with no growth aspirations, operating local markets
4.4.6.2 Innovator with continuous growth, operating in growing markets
4.4.6.3 Efficiency-oriented networker with leap-wise growth
4.4.7 SME´s management in context of portfolio entrepreneurship
5 Conclusion
5.1 Relevancy for entrepreneurship
5.2 Limitations
5.3 Future research
6 List of references
Objectives and Topics
This thesis investigates the phenomenon of portfolio entrepreneurship in the Slovak Republic, specifically focusing on the personal traits, motivations, and business strategies of individuals who own and manage multiple businesses simultaneously.
- Analysis of personality traits (Big Five) and their impact on portfolio entrepreneurship.
- Investigation of push and pull factors influencing the decision to become a portfolio entrepreneur.
- Exploration of management strategies, including the use of management teams versus entrepreneurial teams.
- Evaluation of SME clustering and survival strategies in peripheral locations within the Slovak business landscape.
Excerpt from the Book
3.1.3 Entrepreneurial Traits
The entrepreneurial trait discussions strive to answer the question how the specific combination of individual traits can support or hinder the establishment of a new business. The main issue is if the individual of entrepreneur is born with some specific skills dedicated to become a self-employed entrepreneur, or if these abilities can be learned and/or adopted. Nevertheless the influence of the founder is crucial for the business success. So the trait approach aim is to identify personality types who are more likely to succeed as entrepreneurs. According to the small business research we can distinguish among five main personality dimensions. So called Big Five personality dimensions, by (Vecchio, 2003) will be further analysed for this purpose. These include need for achievement, need for autonomy, locus of control, risk-taking and entrepreneurial self-efficacy.
Summary of Chapters
1 Introduction and objectives: Defines the research problem regarding portfolio entrepreneurship in Slovakia and outlines the thesis goals and structure.
2 Definition of portfolio entrepreneurship: Provides a comprehensive literature review to distinguish between novice, serial, and portfolio entrepreneurs while establishing key vocabulary.
3 Theoretical Part: Examines motivations (push/pull factors) and personal traits relevant to entrepreneurship, and categorizes SME strategies in peripheral locations.
4 Empirical Part: Details the qualitative research methodology, including the in-depth interview approach, and presents the findings from the study of ten portfolio entrepreneurs.
5 Conclusion: Synthesizes the research findings, addresses the study's limitations, and suggests directions for future academic research in this field.
6 List of references: Compiles the comprehensive body of academic literature and web sources used throughout the thesis.
Keywords
Portfolio entrepreneurship, Slovakia, SMEs, Entrepreneurial traits, Push factors, Pull factors, Management teams, Entrepreneurial teams, Innovation, SME clustering, Business strategy, Growth orientation, Qualitative research, In-depth interviews.
Frequently Asked Questions
What is the primary focus of this research?
The thesis focuses on portfolio entrepreneurship in the Slovak Republic, examining individuals who simultaneously own or manage two or more independent business ventures.
What defines a portfolio entrepreneur according to this study?
A portfolio entrepreneur is defined as an individual who currently holds minority or majority ownership stakes in two or more independent businesses that have been founded, purchased, or inherited.
What is the main goal of the research?
The primary goal is to study the personality characteristics, motivations, triggers, and capabilities of Slovak portfolio entrepreneurs to provide a conceptual basis for further academic and practical development.
Which research methodology is employed?
The study uses a qualitative research design, specifically conducting in-depth interviews with ten successful portfolio entrepreneurs in the Trenčín region to gather empirical data.
How are push and pull factors relevant to this research?
These factors are analyzed to determine the motivations behind starting multiple businesses; push factors usually involve external pressures or dissatisfaction, whereas pull factors represent internal drivers like the desire for independence or opportunity exploitation.
What role do management teams play for portfolio entrepreneurs?
Management teams are investigated as a potential solution to the "time deficit" problem, allowing portfolio entrepreneurs to delegate operational tasks and effectively manage multiple ventures.
How does the business landscape in Slovakia influence the findings?
The transition from a centralized economy to a market economy in Slovakia creates a unique environment where portfolio entrepreneurship is essential but currently lacks extensive domestic academic research.
What are the key limitations discussed by the author?
Key limitations include the small, region-specific sample size of ten participants and the subjective nature of qualitative interview analysis.
- Citation du texte
- Magister Branislav Zurik (Auteur), 2012, Portfolio Entrepreneurship in Slovakia - Empirical analysis of small and medium sized enterprises, Munich, GRIN Verlag, https://www.grin.com/document/208686
