Entrepreneurial Opportunities

Entrepreneurial opportunities come in various forms and are influenced by socio-economic conditions. Increasingly entrepreneurs are being asked to take a more balanced approach between financial and environmental considerations when assessing an opportunity. The aim of this chapter is to discuss how entrepreneurial opportunities need to take an economics and sustainability perspective in the competitive global marketplace in order to keep up to date with contemporary business practices. This will enable a more transdisciplinary approach to the opportunity recognition process that integrates multiple disciplinary frameworks.

The small size of female founded and owned businesses is discussed as a weakness towards business survival and growth and also as a solid foundation for sustainable innovation (SI) through maintaining stronger ties with suppliers and customers. In smaller businesses, the closeness to the key stakeholders facilitates knowledge transfer and internalisation of knowledge which leads to faster decision making and creating SI. This paper aims to examine networking strategies of established female entrepreneurs and to develop better insights into the extent of social dialogue, collaboration and cooperation maintained between the entrepreneur and her network contacts towards SI and value generation. Successful business sustainability strategies and subsequent outcomes of established female entrepreneurs are also examined. This paper presents the findings from quantitative survey-based research conducted with 240 established female entrepreneurs from the UK and Turkey (120 from each). The respondents were selected on the basis of business survival and success. National culture is used to identify the established authoritative guidelines for social behaviour. Hofstede’s Culture Model is applied to the case countries to describe the sociocultural institutional context. From the business sustainability strategies (BSS) perspective, the findings show that the studied elements of established female entrepreneurs vary between two different cultural environments. And yet, the both group reported a high level of social dialogue, collaboration and cooperation with their network contacts although they demonstrated fundamentally different networking patterns within the context of type of contact; networking motivation; frequency of contact; and helpfulness of contact. Also established female entrepreneurs’ business sustainability strategies show significant differences between the case countries linked to the level of power distance, individualism and uncertainty avoidance culture dimensions. The paper generates valuable insights into internationalisation strategies for female entrepreneurs and possible areas for facilitation for policy makers.

This chapter aims to provide a review of women's empowerment indicator in Arab countries. It estimates the determinants of women's economic empowerment in Arab countries to conclude some insights related to the effect of access to finance on empowering women. Moreover, the chapter aims to assess MFIs performance in supporting women's empowerment, based on actual data during the period 2008–2016 for selected Arab countries. Results show that women access to finance indicator is not sufficient to give clear evaluation for the role of MFIs in Arab Countries in empowering women. This issue requires many efforts from various parties from micro to macro players in the economy. In addition, the analysis of percentage of female borrowers and their share of gross loan portfolio concludes that performance in terms of empowering women through MFIs seems to be effective for some Arab countries while poor for others.

This chapter is a descriptive and exploratory study of the challenges and opportunities faced by franchisors in adapting their franchise systems to accommodate cultural diversity among franchisees. It uses literature on migrant entrepreneurs and cultural diversity in small business settings in the United Kingdom, Europe, and the Americas as a basis for application to a franchising context. Triggered by events in the Australian franchising sector over the past two years, in which franchise systems have been embroiled in controversial and illegal activities undertaken by franchisees – many of whom were business migrants – the research begins to unravel the complexities of utilizing migrant franchisees as vehicles of system growth. Two sources of data provide indicative evidence about the issues associated with migrant franchisees. Firstly, two surveys of franchisors were conducted in 2014 and 2016 to obtain descriptive data about the incidence of migrants as franchisees. Secondly, a series of focus groups provided insights into the challenges and opportunities faced by franchisors in recruiting and managing migrant franchisees. Tentative findings of best practice in accommodating migrant franchisees are revealed. This research begins to fill an important gap in the literature about cultural diversity in franchising.

The hospitality and tourism industry is highly labor-intensive. It is constituted by a fast-paced, dynamic, unpredictable and unstable operating environment that requires an extraordinary leadership ability, and leaders may need to adopt a transformational leadership style. A plethora of theoretical and empirical studies have shown the importance of transformational leadership. However, there is still much to be learned. Meanwhile, no study to date has measured the relationship between transformational leadership, job involvement, and job satisfaction among employees in the hospitality and tourism industry in New Zealand. This study expands our understanding of transformational leadership in the specific context of hospitality and tourism.

The present study aims to identify the determinants of the capital structure of restaurants firms in Portugal, as well as to analyze the application of capital structure theories in those companies.

In order to reach the objectives, a sample of 400 companies belonging to the restaurant sector was used. The analysis was carried out between 2008 and 2017, and multiple linear regression, based on panel data, was applied.

The obtained results allowed to verify that the considered variables have different effects on the capital structure of the companies under study and that the restaurant sector partially applies the trade-off, pecking order and signaling theories.

Franchising manifests a bundle of risks created by the delegation of functions as both franchisor and franchisee exploit their respective comparative advantage. The galvanization of this advantage is governed by the franchise agreement and optimized by the effectiveness of the governance structure. This chapter considers the concept of risk and discusses its implications in valuing franchisee-operated businesses. It examines how risks arise, where they congregate and synthesizes the specific franchising issues relating to risk-adjusted cashflows, risk analysis, risk mitigation, and risk pricing. The authors propose that risks in franchising are multi-layered and hierarchical. Consequently, this relationship is represented in a Franchise Risk Ecology (FRE) comprising risks inherent in the market, the franchisor, the system, the industry, and within the franchisee-operated business.

The digital revolution starts a new innovation cycle for the function of pricing and revenue management (PRM). Personalized content means the availability of customer preference data that can be used to microsegment customers and allow to move steps closer to a theoretical profit optimum of perfect price discrimination. It is conceptionally clear that all advancements on data capturing, algorithms and analytics will be created that become technically feasible, economically positive and ethically justifiable to the customer. But the technical increase of sophistication also “rings the bells” of well-known hurdles to PRM implementation success, e.g. black box perception, (perceived) lack of control of one of the key action variables, lack of competence and talent access to manage these advanced mathematical capabilities. This article takes a specific focus on hospitality and explores key elements of Digital PRM to embrace, and traps to avoid.

The sustainable performance of hotels which constitute a major part of the tourism industry, gains increasing importance day by day. Sustainability has become mandatory not only for the tourism industry but also for all industries producing goods and services. Reducing the negative impact of development on the environment and environmental innovation which aims to benefit from natural resources and energy effectively and consciously helps hotels to be sustainable. The tourism industry has a complex structure and exists as being intertwined with other branches of science. Tourism, which is a multidisciplinary industry, is nourished by other branches of science as well as supplies other fields of science by providing working space. Some new solutions that are put forward by materials science and engineering take place in the tourism industry as new innovations. Owing to this interaction, the workload of the personnel working in hotels is reduced and the enterprises save material and energy. At the same time, the customers who benefit from the services of the hotels consume the services in more comfortable and safer environments.

Ceramic materials are generally used in toilet and bathroom parts of hotels. However, ceramics are observed to be used in lobbies, cafes, restaurants, pools, facades, and similar areas in addition to toilets and baths in hotels. The aim of this study is to identify new ceramic solutions that affect and contribute to the sustainability of the hotels which is a major sector under the roof of the tourism industry and to contribute the literature. In order to actualize this aim, the document analysis method which is one of qualitative research methods was used and the literature search was carried out to identify new ceramic solutions. The result of study includes moisture control tiles with the ability to keep the humidity at normal standards in terms of human health and that can be used in hotels, facade systems that clean themselves and the polluted air, thermal coating systems for heat insulation, antibacterial materials that provide hygiene, and dirt repelling products. Also, it is seen that there are new ceramic solutions such as costless night lighting and security strips as well as materials with a phosphorescence property for aesthetical purposes and also, tiles with heat control which offer different possibilities aesthetically. It is observed that the different benefits obtained from each of identified new ceramic solutions ease off the workload of personnel working in the hotels, enable material and energy saving in hotels and at the same time, provide an accommodation in a more comfortable and safer environment for customers. In addition to this, the use of high-technology ceramics and nanomaterials in the field of tourism creates places where technology and aesthetics combine.