• Crowdfunding industry—History, development, policies, and potential issues

      Zhao, Ying; Harris, Phil; Lam, Wing; University of Chester (Wiley, 2019-03-14)
      Crowdfunding has gained a great deal of attention from policy makers, researchers, and practitioners. This paper attempts to provide an overview of the history and development of the industry and discusses different types of crowdfunding and their public policies. It is identified that the operation of peer‐to‐peer lending and equity‐ based crowdfunding is regulated by the Financial Authority; the reward‐based crowdfunding (RBC) and donation‐based crowdfunding (DBC) is yet to be regulated, neither in the United Kingdom or United States. The lack of rules and regulations in the latter two models highlights the burning issues such as potential fraud and mal- practice. Therefore, we suggest that it is timely to consider regulating the two types of crowdfunding possibly by governance mechanism with reporting requirements to keep track of the fund and to provide timely information. Additionally, it is advisable that practitioners to work on an agreed framework to establish industry standard, so potential investors can compare and assess the quality of projects easily. Finally, the management of crowdfunding platforms especially the RBC and DBC platforms should be improved. The ease of launching campaigns has made it difficult for both initiators and investors to succeed in the crowdfunding process. Further research to develop some form of assessment framework would be useful to both parties.
    • Demographic factors, personality and entrepreneurial inclination

      Zhou, Jinbo; Tang, Xiao; Lam, Wing; Guangxi Normal University, University of Chester (Guangxi Social Science Association, 2018-06-08)
      This paper looks at the demographic factors of undergraduate and postgraduate students and explore their psychological characteristics in different aspects that related to entrepreneurial intention. 根据选取的335名在校大学生和研究生,探讨4种人口统计学因素[包括性别、年龄、家庭背景、学院 (经管类和非经管类)]及6种心理特征(包括控制点、成就需求、模糊容忍度、风险偏好、自信和创新的)对创 业意愿的影响。结果表明:成就需求、模糊容忍度、自信和创新在区分企业家和非企业家时具有重要意义,而控 制点和风险偏好没有表现出显著差异。除这6种心理特征外,研究结果还强调了家庭背景和学院在创业意愿预 测中起决定作用。这项研究对我国教育体制政策制定产生了巨大影响,同时弥补了中国样本的缺失
    • Embracing business start-up programme in UK mainstream entrepreneurship education

      Lam, Wing; Zhou, Jinbo; Tang, Xiao; University of Chester, Guangxi Normal University (Hunan University, 2018)
      The results of a research-informed-teaching project carried out by the author help to identify several key factors related to the content and delivery of a successful government initiative – New Entrepreneur Scholarship (NES, 2001-2008). This project aims to evaluate the feasibility of implementing these changes to undergraduate and postgraduate entrepreneurship programmes. The outcome of this research project helps to highlight deep-rooted issues related to entrepreneurship education and research.
    • Internationalisation, Sustainability and Key Challenges Facing SMEs: A comparative study of the UK and China

      Lam, Wing; Harris, Phil; Sidsaph, Henry; Wang, Dian; Zhou, Jinbo; Yang, Sen; University of Chester (West Cheshire and North Wales Chamber of Commerce & University of Chester, 2018-03)
      This is a comparative study of UK and Chinese SMEs internationalisation, sustainable development and key barriers facing business
    • Marketing and entrepreneurship: An integrated view from the entrepreneur's perspective

      Lam, Wing; Harker, Michael J.; University of Chester; Strathclyde University (SAGE, 2013-08-28)
      This article explores the role and significance of marketing in the entrepreneurial process.Utilising an 11-year longitudinal study, supported by a context-rich interpretive approach, the interrelationship between marketing and entrepreneurship at different stages of the business life cycle are examined. Under an effectuation and enactment framework, entrepreneurship is neither ends-driven nor means-driven, but a consequence of the interplay between actors and social context through ongoing enactment. As the ‘joint core actors of the business’, entrepreneurs actively interact with their customers in shaping the marketing activities of the business to meet their ends.
    • The Correspondence between Design Thinking and Human Resource Management and Its Application

      Zhou, Jinbo; Tang, Xiao; Lam, Wing; Guangxi Normal University, University of Chester (Hebei GEO University,, 2018-04-15)
      As knowledge carrier of human resources is the most important resource of enterprise, how to better develop the staff’s creativity and improve the staff’s loyalty and motivation is the main target of the enterprise personal management. Through the analysis of human resource management face’s challenges in the new economy era, the article discusses the design thinking related principles, from three aspects of HRMP, all the staff and enterprise culture to discusses the application of design thinking in human resource management, come up with new ideas in the enterprise human resources management’s innovation and development, so as to provide references for the subsequent research and practice
    • The performance of entrepreneurial ventures: Examining the role of marketing practices

      Jayawarna, Dilani; Jones, Ossie; Lam, Wing; Phua, Sabrina; University of Liverpool; Durham University; Manchester Metropolitan University (Emerald, 2014-11-11)
      Purpose – Despite the importance of marketing to the success of entrepreneurial ventures very few researchers have studied the links with new business performance. The purpose of this paper is to examine a number of marketing practices in relation to the performance of new firms. Furthermore, the study considers the moderating influence of market competitiveness on the marketing practice-performance relationship. Design/methodology/approach – Both postal and web surveys were utilized to collect responses from 128 entrepreneurs in the early stages of business creation. The data were subjected to exploratory and confirmatory factory analyses to establish the marketing practices in new ventures. These results were then subjected to hierarchical regression analysis to study the marketing-performance relationship. Further analysis was conducted to explore the moderation hypotheses. Findings – The results demonstrate that some practices generally associated with marketing – selective distribution, market segmentation and advertising – have limited impact on performance in new ventures. In contrast, other practices such as product/service innovation, market research and service quality and functionality – do help establish competitive advantage. The results suggest that marketing practices associated with “entrepreneurial behaviour” and not “hard” marketing techniques drive new venture success. The results also support the moderation hypotheses confirming that market conditions help explain the role of marketing in new venture success. Research limitations/implications – The paper offers a new theoretical framework to better understand the marketing-performance relationship in new ventures and offers suggestions as to the specific conditions for effective use of various marketing practices. Originality/value – This is one of the first attempts to explore the underlying mechanisms that support marketing practices in new ventures. It reveals the hidden dimensions of the marketing-performance relationship and thereby makes a contribution to both the marketing and entrepreneurship literatures.
    • Understanding U.K. Ethnic Minority Entrepreneurship from an Enterprise Culture Perspective

      Lam, Wing; Harris, Phil; Yang, Sen; University of Chester (Wiley, 2019-03-08)
      Objectives This paper is aimed at examining the enterprise culture within different ethnic groups (i.e., the enterprise subcultures) in the United Kingdom. The research aims to investigate the interplay between individuals and their institutional context (especially social and cultural context) and how the different institutional contexts then shape the different enterprise cultures, leading to differentiated ethnic business characteristics and consequently different levels of entrepreneurial activity in different ethnic communities. Prior work Unequivocal evidence shows that certain ethnic groups display higher levels of entrepreneurial activity than their White counterparts. Despite the large amount of work that has been dedicated to ethnic minority entrepreneurship, there is a lack of coherent conceptual and analytical framework that addresses the links between different factors contributing to ethnic minority entrepreneurship. This paper takes forward the available empirical evidence and theoretical constructs into a conceptual and methodological framework to aid understanding of ethnic minority entrepreneurship. Approach A process‐oriented research framework to investigate the enterprise culture within different ethnic groups (i.e., the enterprise subcultures) is proposed rather than one oriented primarily towards the differentiation of characteristics. Results A large‐scale national survey in the United Kingdom is adopted. The findings of the quantitative fieldwork will form the central part of this paper. . Implications Understanding how and why certain ethnic groups are more entrepreneurial may assist the different parties in different ways. First, learning from the more entrepreneurial subcultures may contribute to the development and implementation of more effective public policies and efficient service delivery programmes. Second, advancing understanding of ethnic communities helps to support more informed decisions by policymakers and local support agencies through improved anticipation and greater understanding of responses. Third, it helps entrepreneurs and potential entrepreneurs to have a better understanding of the nature of their perceived barriers and constraints by demonstrating potential solutions successfully employed by other subcultures. Value The conceptual and methodological development of this study has the potential to build the link between relevant parties and pave the way forward for ethnic entrepreneurship research.