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Uncertainty as a Challenge for Leadership: the Effect of Cultural, Social and Legal Institutions on Risk-Taking and Innovation in Family Business

  • This essay develops an entrepreneur-oriented theory of risk-taking and innovation that is used to examine the different leadership styles of family business owners. This theory is based on the works of Schumpeter, who mainly focussed on the potential of supply in the competition for innovation, and the works of Hayek, who emphasized the importance of demand in this competition. By combining these two theories, a comprehensive understanding of economic innovation processes is presented. In the subsequent empirical section of the essay, these theoretical ideals of supply-oriented and demand-oriented innovators will be examined for what they look like in practice. Data from India and Japan is analysed in this explorative empirical research to examine the influence of cultural, social and legal norms on entrepreneurial risk-taking and innovation behaviour. The perspectives on “foreign cultures” expand our understanding of management in a way that encourages innovation- friendly entrepreneurship.
Metadaten
Author:Prof. Dr. Alexander J. Wulf
Parent Title (English):Paragrana
Document Type:Article
Language:English
Date of Publication (online):2016/07/12
Year of first Publication:2015
Publishing Institution:SRH Berlin University of Applied Sciences
Release Date:2016/07/12
Tag:Family Business; Innovation; Leadership
Volume:24
Issue:1
First Page:80
Last Page:93
Note:
Online: https://www.researchgate.net/publication/333107217_Uncertainty_as_a_Challenge_for_Leadership
Link author profile:https://www.srh-berlin.de/hochschule/hochschulteam/wulf-alexander/
JEL-Classification:M Business Administration and Business Economics; Marketing; Accounting
Licence (German):License LogoCreative Commons - Namensnennung-Nicht kommerziell-Keine Bearbeitung
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