Tim Mazzarol

University of Western Australia | UWA · UWA Business School

The aim of this article is to explore the place that fiction writing can take in an entrepreneurship and innovation curriculum. The need to project oneself into an uncertain future, and the lack of guidelines for doing so, generally plunges students into a perplexity that leads them to be very conservative in their projects. Creativity was used to...

What makes the cooperative business model unique is the various roles members have. We interviewed executives and members of four large Australian cooperatives to determine what these roles were. Our results show differences in terminologies and a conflation of member roles relating to patronage, ownership, investment, and community membership. We...

https://www.ceru.au/blog/the-friendly-societies-pioneers-of-the-cme-sector

This presentation by Professor Tim Mazzarol provides an overview of the WA CME History project with a discussion of the systematic literature review undertaken into the CME research field from 1848 to 2022. This highlights the main CME journals, evolution of the CMEs in history, and the key findings from the literature review.

Small Technology Firms (STFs) are currently facing increased competition characterised by product and market uncertainties, the internationalisation of markets, transfer of technologies and large amount of knowledge and information.

In summary, the process of innovation has a number of phases, from the initial research and discovery phase, through definition of the opportunity to product development and other late-stage aspects of commercialising a finished product. Each phase will need a different mix of tacit and codified knowledge inputs.

The assessment and screening of opportunities is a critical step in the commercialisation process and as the quote from (Koen et al., in The PDMA toolbook 1 for new product development, Wiley, 2002) suggests, is not a single process, but one that can involve multiple iterations and a variety of stages or screening processes. In Chap. 3, we examined...

As discussed in Chapter 1, the focus of research into innovation, entrepreneurship and small firms has focused predominately on the atypical high-growth and/ or high-tech firms. Problems also exist in relation to the definition of both commercialisation and small firms.

This chapter examines the role of organisational learning and capabilities within the small firm where resource scarcity is a key strategic consideration. The importance of knowledge building within the top management team and their key employees, and the leveraging of third-party networks or complimentary actors is discussed.

The chapter starts with a definition of isolating mechanisms, drawing on the resource-based view (RBV) theoretical framework—which suggests IMs offer useful strategic barriers to competitive imitation, contributing to competitive advantage, such as the ownership of specific assets or resources, or the possession of formal intellectual property (IP)...

This chapter examines the role of strategic alliances in enabling commercialisation success for ISF. As discussed in Chap. 2, strategic alliances are key enablers for ISFs seeking to commercialise their innovations without the resources that are needed for all the processes from prototyping to launch and business growth. Firstly, the different type...

This chapter examines the role of the business model in commercialisation of innovations by innovative small firms (ISFs). How the business is designed to create, deliver, and capture value is the focus of a business model. An introductory overview of the business model concept is provided including details of the components of the business model c...

This chapter examines the issue of how to manage uncertainty and risk in the process of innovation. By its very nature, innovation is inherently risky. The more radical and disruptive the innovation, the more uncertainty and potential risk is created. However, the management of uncertainty and risk, although closely aligned, require different conce...

The purpose of this study was to examine the relative importance of customer engagement (CE) on customer loyalty (CL) and word of mouth (WOM) within co-operative and mutual enterprises (CMEs), and to see how these relationships compared to those found in more mainstream investor-owned businesses (IOFs). A large sample (n = 856) of CME members and I...

This paper investigates aspects of cruising of most concern to Australian consumers during the COVID-19 pandemic, following the shutdown of cruising globally. Using a mixed-method approach, the study asked cruisers and non-cruisers which of the risks associated with cruising were of most concern. The study found health was the most concerning risk...

Co-operatives are defined around a set of principles and values. If these are misunderstood, ignored or dismissed, the co-operative risks departing from its purpose and resembles or demutualises into an investor-owned firm. Adherence to co-operative principles and values can strengthen active members’ participation or diminish this if they are igno...

The COVID-19 pandemic devastated the cruise sector with an initial global shutdown and ongoing patchy resumption, widespread reporting of virus transmission onboard and billions of dollars in economic losses. This study explores how COVID-19 has impacted Australian and UK consumers’ risk perceptions, revealing cruises are no longer considered “safe...

This paper examines the perspectives of employers and employees within nano, micro, small, medium, and large firms in relation to HRM practices. The study draws upon a large sample of respondents from firms of all size categories. An online questionnaire comprising established HRM measures was used to collect the data. A multivariate discriminant a...

Global demand for energy, environmental concerns over power generation emissions, and rising household energy costs have heightened interest in exploring ways to reduce energy consumption. Numerous approaches have been adopted, including those that build on the important recognition of consumer intentions as a predictor of behavior. However, the li...

This paper investigates aspects of cruising of most concern to Australian consumers during the COVID-19 pandemic, following the shutdown of cruising globally and the Ruby Princess debacle. Using Best-Worst Scaling methodology, the study asked cruisers and non-cruisers which of the risks associated with cruising were of most concern. The study found...

The global coronavirus pandemic has devastated the cruise sector with widespread disruption and cancellations affecting millions of cruise passengers. The cruise industry was negatively affected due to the enclavic and confined environment onboard, the high infection rates among both crew and passengers, and widespread negative media coverage. This...

Small to Medium Enterprises (SMEs) can benefit from membership of a cooperative. This study aims to test previous antecedents of why SMEs join a cooperative. We interviewed members and executives of four Australian cooperatives to investigate reasons why SME owners joined them. All interviewees agreed that the cooperative had to provide economic be...

How can an entrepreneurial education program simultaneously create entrepreneurial knowledge, skills and competencies, as well as new ventures and jobs? This is a particular challenge for universities that are keen to align with government policies and demonstrate impact. Our paper examines a novel approach to enterprise and entrepreneurship educat...

This Chapter examines the case of Skin Elements Ltd., a Biotech start-up enterprise that successfully created, manufactured and commercialised an innovative skincare technology into a global market. The principal focus of this case study is on the role played by knowledge management and how this shaped the innovation strategy that saw the technolog...

Franchising has become a highly popular business system throughout the world with many small business owner-managers joining franchise networks. Although the more famous franchise systems such as KFC, McDonalds and Pizza Hut that came to Australia in the 1970s were established in the US there are now many such as Snap Printing, Jim’s Mowing and Eag...

Operations management is crucial to the success of any small business. It impacts both the firm’s financial and non-financial aspects. Of importance is the control that can be obtained over the firm’s cash flow, stock and other productive assets to achieve the maximum levels of operational efficiency and effectiveness. Each business is likely to be...

This chapter examines the issue of valuation and the related issues of purchasing and selling a small firm. It highlights the fact that valuation is not a precise science, and there is no established formula for determining how much a business should be worth. It also considers consolidation and harvesting of the wealth from the business. The proce...

Small business owner-managers have been found to have a less sophisticated approach to formal business planning than their counterparts in larger firms. This is generally related to a lower level of systematic data gathering or a low level of statistical analysis. However, owner-managers are strategically aware and realise the consequences of their...

While many small businesses start up with only bootstrap financing, it is usually necessary for them to expand their operations and invest in both new capital equipment, employees and marketing or advertising activities. The expansion – even modest expansion – of a small firm can place a strain on the firm’s resources and it is possible for a small...

The classification of firms into micro, small, medium and large is undertaken primarily on the size of their payroll. As the business expands in size the role of the owner-manager becomes more complex and leadership more important. The owner-manager’s ability to develop his or her staff into a team who can operate systems efficiently and effectivel...

Financing a small business venture requires the owner-manager to determine the amount of capital that will be required to achieve the level of activity and growth within the business over its early years. How large this amount of capital is will depend on the nature of the business, its industry dynamics and the ambitions or goals set for it by the...

This chapter examines the challenges facing small firms in their early years, and examines how best to screen new venture opportunities. The foundation of a small business is usually a personal decision by the owner-manager or managers who have decided to undertake the challenge and assume the risks associated with launching a new venture. A major...

Technology offers small business owners an opportunity to enhance the productivity of their firm, widen its marketing reach and significantly improve the level of control they have over information and communications within the company. The use of technology, particularly information communications technologies (ICT) by small businesses has grown s...

Crisis management, turnaround strategies and reengineering are just as important to the small business owner-manager as they are to the managers of large corporations. Unlike their large business counterparts, the small business owner-manager is likely to experience not only loss of profits and shareholder value if things don’t go well, but may los...

This chapter examines the role of small business within the economy as well as government policy toward the small business sector. It provides an overview of the small business sector while considering the specific nature of management within a small firm and the policy responses available to governments. Small businesses typically make up the majo...

Small business growth is a goal that would seem desirable for all owner-managers. However, relatively few small business start-ups develop into large firms (e.g. with over 250 employees) (OECD, 2002, 2010). Many disappear along the way, either due to external factors beyond the control of the owner-manager, or more commonly due to internal factors...

Large corporations have substantial resources to devote to marketing, and frequently have many levels of marketing management with responsibilities for national and regional operations, or different product lines (Webster, 1992). A feature of the large corporation is its use of formal planning processes to guide its marketing activities (McColl-Ken...

This chapter examines the differences between small business owner-managers and entrepreneurs. It also looks at the different types of small firms and at the small business start-up process. Entrepreneurship and small business management are not the same event. In this chapter these distinctions will be explored further. In addition, the new ventur...

This chapter examines theories of the adoption and diffusion of innovation. It explores the issue of whether innovation diffusion is a social or economic process, and the importance of initial customer selection. Also discussed are the need to identify clear pathways to market, the barriers to market entry, and substitution threats. The need for th...

This chapter examines the relationship between the entrepreneur’s vision and the need for strategic planning. It recognises that flexibility is critical in the development of entrepreneurial ventures and that the planning process must be non-linear in nature if it is to be responsive to the opportunities that market or product innovation offer. Whi...

This chapter examines the role of innovation as a key economic driver and the nature of radical or disruptive innovations as a major source of new technological products and processes. It examines the theory and practice of strategic management of innovation, and the generation of innovation value through the adoption of a Blue Ocean strategy. The...

This chapter examines some of the psychological and social trait theories of entrepreneurship as well as environmental factors likely to trigger enterprising behaviour. Also examined are the roles of creativity and achievement drive, plus concepts for evaluating individual entrepreneurial traits. The chapter also overviews the concept of entreprene...

Commercialisation has been described as the process of preparing and taking an established product, process or service to market (DITR 2003). The process ends when the product, process or service is finally marketed successfully to the customer. It is typically the costliest part of the innovation process, requires the most entrepreneurial effort a...

This chapter examines the nature of corporate structure and governance for high-growth firms as well as the process of team building both in early stage and in more mature ventures. The importance of getting the right team and the need to ensure that the team is balanced and effective are also considered. It also examines some of the issues associa...

This chapter examines: new venture creation in established organisations, the intrapreneurial process, the middle manager as an entrepreneur, the roles of sponsors, and climate makers. The infusion of entrepreneurial thinking into large corporate organisational structures has emerged as a key area of management attention since the 1990s. As levels...

This chapter examines the financing options available to entrepreneurs from initial start-up through growth and expansion. It examines the key sources of finance with attention to debt, equity and retained profit. While much of the popular focus of entrepreneurial financing has been placed on venture capital, this is only one of many options availa...

This chapter examines the small business sector and the differences that exist between entrepreneurs and small business owner-managers. The “myth” of small business innovation and the entrepreneurial growth cycle of small firms are also explored along with the need for small firms to establish collaborative support networks. The importance of small...

This chapter examines the social and economic process underpinning entrepreneurship activity and the impacts of entrepreneurial activity on global, national and local economies. In particular, it focuses on defining key concepts such as enterprise, entrepreneurship, entrepreneurs and innovation. Entrepreneurship and innovation are now recognised as...

This chapter examines the process of screening opportunities for new product development (NPD), and the importance of undertaking detailed market assessments of the customers’ needs and wants. It discusses the use of a range techniques and associated concepts including voice of customer, quality function deployment (QFD), Kano analysis, CAGE modell...

This chapter examines creativity and its links to enterprise. This includes the three-stage process of entrepreneurship: opportunity screening; acquiring resources and building capability. Within this examination, the chapter reviews innovation and competitive advantage, financing ventures, team building and entrepreneurial growth. The process of e...

This chapter examines the issue of how to manage risk in the process of innovation. By its very nature, innovation is inherently risky. The more radical and disruptive the innovation, the more uncertainty and potential risk is created. However, the management of risk remains an important issue for any manager or organisation seeking to engage in th...

This chapter provides an overview of the emerging field of social entrepreneurship and innovation, with a specific focus on co-operative enterprise as a distinct business model. While entrepreneurship has been viewed as a process of self-directed, individualistic and profit maximising opportunism, the reality is that many entrepreneurs and innovato...

This chapter examines the process of screening opportunities for new product development (NPD), and the importance of undertaking detailed market assessments of the customers’ needs and wants. It discusses the use of a range techniques and associated concepts including voice of customer, quality function deployment (QFD), Kano analysis, CAGE modell...

This chapter has provided an overview of the nature of IP and how it is protected and valued. A key issue in successful commercialisation of innovation is the identification, ownership and protection of creative output and proprietary knowledge. IP can be formally registered (e.g. patents, trademarks) or automatically assigned upon creation (e.g. c...

This chapter has provided an overview of the financing process for entrepreneurial firms. For these types of businesses, there is likely to be an equity finance gap due to a lack of available risk capital. Sources of financing can include banks, financing firms, insurance companies and trade creditors that provide debt financing against either tang...

This chapter has provided an overview of the concepts of social entrepreneurship and innovation. It has highlighted the fact that social entrepreneurs use the same skills and behaviours of traditional entrepreneurs, but for a social rather than an economic purpose. The social entrepreneur can be found in a wide range of environments that can includ...

This chapter examines the issue of how to manage risk in the process of innovation. By its very nature, innovation is inherently risky. The more radical and disruptive the innovation, the more uncertainty and potential risk is created. However, the management of risk remains an important issue for any manager or organisation seeking to engage in th...

This chapter has examined the entrepreneurial process which is comprised of three distinct stages: (i) opportunity recognition, (ii) marshalling resources, and (iii) developing capability. The screening of opportunities is a key part of the entrepreneurial process, and the reason why some people identify opportunities better than others may be due...

Planning should not be confused with clarity of vision. This chapter examines the relationship between an entrepreneur’s vision and the need to generate a formal business plan. It suggests that a formal business plan is no guarantee for success and that, while planning is important, too much attention can be paid to business plans at the expense of...

This chapter has examined the nature of entrepreneurship and innovation, providing definitions for both and placing them into context. Note that entrepreneurship is a major driver of employment and economic growth throughout the world. Entrepreneurship operates at the individual, organisational and environmental level, and is a process associated w...

This chapter provides an overview of some of the elements associated with team building and leadership with entrepreneurial companies. The importance of assembling a well-balanced management team with a complimentary range of skills is highlighted. This management team should be supported by a competent management board made up of individuals who c...

This chapter examines the process of adoption and diffusion of innovation. It suggests that innovation is driven by three paradigms, focusing respectively on: the individual creative genius, the technology-push of systematic scientific inquiry, and market-pull. While the creation of innovative new ideas and technologies is an important goal for bus...

This chapter provides an overview of the concept of intrapreneurship or internal corporate venturing which suggests that managers within large organisations can behave like entrepreneurs. The ability of large organisations to generate innovations is contingent on their ability to encourage entrepreneurial behaviour among their employees. Intraprene...

This chapter provides an overview of the characteristics that influence the entrepreneur and shape their behaviour. The factors influencing entrepreneurship are found both internally and externally to the individual, comprising a combination of personality traits and environmental influences. Entrepreneurs are typically characterised by strong achi...

This chapter examines the role of innovation as a key economic driver and the nature of radical or disruptive innovations as a major source of new technological products and processes. It examines the theory and practice of strategic management of innovation, and the generation of innovation value through the adoption of a Blue Ocean strategy. Tech...

This chapter has provided an overview of the small business sector and the nature of small business management. Small firms are a major source of employment and economic growth throughout the world and provide a management environment that is very different from that found in large organisations. A problem in understanding the small business sector...

Small business owner-managers need to learn how to screen business opportunities and adopt a more strategic mindset. Most tend to be more reactive and short range in their thinking. A lack of adequate market analysis and a reliance on guess work and intuition are common problems. Common causes of failure in small businesses are a lack of capital, p...

The process of small business management needs to be understood within the context of the overall enterprise environment that consists of micro, small and medium-sized firms, within the entrepreneurial culture from which they are formed, and within the support networks that allow them to get started. Enterprise, entrepreneurship and small business...

While many small businesses start up with only bootstrap financing, it is usually necessary for them to expand their operations and invest in both new capital equipment, employees and marketing or advertising activities. The expansion – even modest expansion – of a small firm can place a strain on the firm’s resources and it is possible for a small...

Small business owner-managers are not generally engaged in formal business planning. However, they can derive benefits from strategic planning. The development of a clear vision for their business is an important step in successful strategic management. Formal written business plans are often prepared by small firms to secure financing from banks o...

This textbook familiarises students with the theory and practice of small business management and challenges assumptions that may be held about the way small business management can or should adopt the management practices of larger firms. For students interested in establishing and managing their own small firm, this book helps them to focus thei...

This book provides an overview of the theory, practice and context of entrepreneurship and innovation at both the industry and firm level. It provides a foundation of ideas and understandings designed to shape the reader’s thinking and behaviour to better appreciate the role of innovation and entrepreneurship in modern economies, and to recognise t...

This book provides an overview of the theory, practice and context of entrepreneurship and innovation at both the industry and firm level. It provides a foundation of ideas and understandings designed to shape the reader’s thinking and behaviour to better appreciate the role of innovation and entrepreneurship in modern economies, and to recognise t...

This workbook accompanies the textbook Small Business Management: Theory and Practice. The textbook familiarises students with the theory and practice of small business management and challenges assumptions that may be held about the way small business management can or should adopt the management practices of larger firms. For students interested...

This chapter examines the issue of valuation and the related issues of purchasing and selling a small firm. It highlights the fact that valuation is not a precise science, and there is no established formula for determining how much a business should be worth. It also considers consolidation and harvesting of the wealth from the business.

The classification of firms into micro, small, medium and large is undertaken primarily on the size of their payroll. As the business expands in size the role of the owner-manager becomes more complex and leadership more important. The owner-manager’s ability to develop his or her staff into a team who can operate systems efficiently and effectivel...

Marketing within the small business is not the same as found within larger organisations due to limited resources, but also the owner-manager’s ability to get closer to the customer and understand their needs and wants. The term “customerising” has been coined to describe the process of marketing within the small business. This involves the ability...

Crisis management, turnaround strategies and reengineering are just as important to the small business owner-manager as they are to the managers of large corporations. Unlike their large business counterparts, the small business owner-manager is likely to experience not only loss of profits and shareholder value if things don’t go well, but may los...

Growth is only one option available to small business owner-managers and one that most do not chose to follow. Most small business owners are content to manage their firms primarily for lifestyle rather than growth. If the owner-manager decides to pursue growth they must learn how to manage ever increasing scale and scope, putting in place systems...

Operations management is crucial to the success of any small business. It impacts both the firm’s financial and non-financial aspects. Of importance is the control that can be obtained over the firm’s cash flow, stock and other productive assets to achieve the maximum levels of operational efficiency and effectiveness. Each business is likely to be...

Financing a small business venture requires the owner-manager to determine the amount of capital that will be required to achieve the level of activity and growth within the business over its early years. How large this amount of capital is will depend on the nature of the business, its industry dynamics and the ambitions or goals set for it by the...