Managing competence acquisition and financial performance: An empirical study of how small firms use competence acquisition strategies

Malmström, Malin; Wincent, Joakim; Johansson, Jeaneth

doi:10.1016/j.jengtecman.2013.07.004

Cited by 18 publications

(8 citation statements)

References 88 publications

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“…Using relevant tools such as the repertory grid technique is important for understanding entrepreneurial cognitions. Indeed, managing business models relies significantly on the entrepreneurs' tacit knowledge, and their thoughts are often developed and constructed in highly uncertain settings (Aram & Noble, 1999;MacMillan, Zemann, & Subbanarasimha, 1987;Malmström, Wincent, & Johansson, 2013). The repertory grid technique is a way to reveal thought structures systematically.…”

Section: Resultsmentioning

confidence: 99%

Cognitive Constructions of Low–Profit and High–Profit Business Models: A Repertory Grid Study of Serial Entrepreneurs

Malmström

Johansson

Wincent

2015

Entrepreneurship Theory and Practice

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This study shows how the repertory grid methodology can be used to understand entrepreneurs' cognitive construction of business models and evidence of entrepreneurs' differential cognition of high-profit and low-profit business models. We show that entrepreneurs are more cognitively complex and more nuanced in constructing high-profit business models than low-profit business models. Furthermore, although they are perceived as meaningful, low-profit business models are characterized by relatively less clear cognitive constructions. This study suggests that the repertory grid technique may be useful for future research and entrepreneurship practice to understand the entrepreneurial cognition of business models.

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Section: Resultsmentioning

confidence: 99%

Cognitive Constructions of Low–Profit and High–Profit Business Models: A Repertory Grid Study of Serial Entrepreneurs

Malmström

Johansson

Wincent

2015

Entrepreneurship Theory and Practice

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“…In this view, building competitive advantage is a contest for the acquisition of competences (Malmström and Wincent 2012;Malmström, Wincent and Johansson, 2013) This perspective acknowledges managers' knowledge about what kinds of assets and capabilities, business alternatives and existing competences are important in order to consider what kinds of competences the firm should start to acquire (Sanchez, Heene and Thomas, 1996). The stocks and flows of a firm's tangible and intangible assets are organised according to the firm's strategy, which is the organisation's operative rationale to achieve its goals, coordinated by a firm's management processes to build and leverage competences.…”

Section: Theoretical Backgroundmentioning

confidence: 99%

Accounting knowledge in innovative firms - direct contacts with external auditors for strategic actions

Blomkvist

Johansson

Malmström

2016

IJMFA

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Managers' use of auditors in decision processes is well known in the accounting literature, but little is known about owner-managers in innovative firms and their acquisition of accounting knowledge through direct contacts with external auditors. We conducted a multiple embedded study of exploratory character based on 21 interviews with owner-managers and external auditors connected to six innovative firms. We show that owner-managers in innovative firms apply informal management control in early phases of the innovation process and thus also rely heavily on external auditors for such purposes. However, management's acquisition of accounting knowledge may contribute over time to the development of a more formalised control system as their competence increases. This study suggests that a competence-based view may be useful for understanding the role of accounting and external auditors in innovative firms' management control systems.Keywords: accounting knowledge; external auditor; innovative firm; strategic action.Reference to this paper should be made as follows: Blomkvist, M., Johansson, J. and Malmström, M. (2016) 'Accounting knowledge in innovative firms -direct contacts with external auditors for strategic actions', Int.

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“…The economic perspective concerns the logic of profit generation and deals with cost structures and revenue streams (Stewart & Zhao, 2000;Malmström et al, 2014) while the organizational perspective focuses on how firms are organized in order to discover and exploit opportunities to create value in the marketplace (Osterwalder & Pigneur, 2004;Malmström et al, 2013;Malmström & Wincent, 2012). The literature also relates business models to both business processes (Morris et al, 2005) and strategy (Pateli & Giaglis, 2004).…”

Section: Brief Review Of the Business Model Literaturementioning

confidence: 99%

Business Model Management Typologies–Cognitive Mapping of Business Model Landscapes

Chronéer¹,

Johansson²,

Malmström³

2015

IJBM

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Business model management is critical in the development of business models aimed to launch innovations and generate high venture performance. This study presents the use of personal construct theory and the repertory grid methodology, a new technique to explore central factors in entrepreneurs' business model management. We identify typologies for business model management and underlying logics of these typologies.The study advances the business model literature in several ways. First it contributes with visualisation of entrepreneurs' business model management and hence adds dimension of business model management. Second, theories and methods from cognitive psychology contribute to the literature with new knowledge on business model management. Repertory grid methodology, developed from Personal construct theory, enable identification of entrepreneurial cognitions of business models.Through 11 semi-structured interviews with serial entrepreneurs in the mobile service sector, this paper contributes with a framework that advances the business model literature by identifying business model management strategies and its defining features. Three categories are identified including six types of business model management strategies for navigating management of business models. The identified categories are: 1) "Comprehensive management" characterized by various levels of complexity, uncertainty, and variation, 2) "Risk management" characterized by various types of risks e.g. business, financial and social, and 3) "Resource management" characterized of various types of capital; e.g. financial, social, human, and innovation. The business model management typologies may assist entrepreneurs to reflect on their business model design and management. This study suggests that the repertory grid technique may be useful in understanding business model management.

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Managing competence acquisition and financial performance: An empirical study of how small firms use competence acquisition strategies

Cited by 18 publications

References 88 publications

Cognitive Constructions of Low–Profit and High–Profit Business Models: A Repertory Grid Study of Serial Entrepreneurs

Cognitive Constructions of Low–Profit and High–Profit Business Models: A Repertory Grid Study of Serial Entrepreneurs

Accounting knowledge in innovative firms - direct contacts with external auditors for strategic actions

Business Model Management Typologies–Cognitive Mapping of Business Model Landscapes

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