Journal of CENTRUM Cathedra

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    Recession and Family Firm Performance: An Assessment of Small U.K. Family-Owned Hotels
    (Pontificia Universidad Católica del Perú. CENTRUM, 2012) Chaston, Ian
    The prevailing view in the literature is that small family firms outperform nonfamily businesses. The nature of the former’s management style also means that these businesses are more likely to sustain their performance in a recession. Drucker (1985b) extended the Schumpeterian view that the most important time for entrepreneurial behavior is in periods of environmental turbulence such as during a major economic downturn. A mail survey of small family-owned and nonfamily U.K. hotels was utilized to assess business performance, entrepreneurial orientation, and strategic flexibility. Results indicated that family-owned hotels outperformed nonfamily businesses. Family-owned hotels which enjoyed sales growth during the recession were those which exhibit an entrepreneurial orientation and strategic flexibility. This conclusion was found to apply to both family-owned and nonfamily hotels. The implications of these results are that small family firms seeking to survive in a recession should probably exhibit an entrepreneurial orientation and be strategically flexible.
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    An Assessment of the Potential Capability of Banks in the United Kingdom Banks to Exploit Sociodemographic Change
    (Pontificia Universidad Católica del Perú. CENTRUM, 2009) Chaston, Ian
    The purpose of the paper is to examine whether UK banks recognize that population ageing and the increasing wealth the over-50 age group, relative to younger people in the 18-49 year age group, mean the older consumer offers an increasingly important target market to sustain business performance. A mail survey was undertaken of UK bank employees. The survey tool utilized previously validated scales to assess entrepreneurial orientation, strategic flexibility, and organizational competence. Results suggest that, when compared to an earlier study of other financial service providers, branchlevel employees perceive that their banks lack entrepreneurial orientation and strategic flexibility. The implication is the ability of these banks to exploit the opportunity to generate incremental revenue from focusing upon the marketing of services to people over 50 may be somewhat restricted. The survey does indicate, however, that UK banks have the necessary internal capabilities in areas such as human resource management (HRM), service quality, and information management to effectively service the needs of older consumers. Future research is required concerning the motivations of the management within UK banks who have apparently yet to recognize the opportunities available by focusing greater emphasis on the provision of services to older people.
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    Entrepreneurs, Intuition, and Small-Business Performance
    (Pontificia Universidad Católica del Perú. CENTRUM, 2009) Chaston, Ian
    The recognition by Western nation governments of the increasingly important role of small and medium-sized enterprises (SMEs) in job creation in post-Fordist economies has led to an expansion of public sector funding for training programs for owners or managers. Research into the cognitive style of entrepreneurs reflects that some researchers conclude that the more effective owners or managers are intuitive decision-makers. Based on these findings, researchers are recommending emphasis on intuitive thinking in government-funded owner or manager training programs. This study involved using research on small UK firms to gain further empirical evidence of the validity of the view that intuitive thinking is a preferred business style and relates to superior small-firm performance. Results illustrate that some owners or managers are intuitive thinkers but that individuals exhibiting an analytical decision-making style run successful firms. The results partially contradict earlier studies.
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    The Godfathers: Characteristics and Roles of Central Individuals in the Transformation of Techno-Regions
    (Pontificia Universidad Católica del Perú. CENTRUM, 2008) Phillips, Fred Y.
    Many successful techno-regions have benefited from a single individual who sustained the regional vision, was the primary source of creative strategies, and is personally identified with the transformation and success of the region. This paper discovers common and distinctive factors in the biographies of these godfathers and in the roles they have played in their respective regions. We investigated eight godfathers of well-established techno-regions (including Frederick Terman of Silicon Valley, George Kozmetsky of Austin, and Morihiko Hiramatsu of Oita), comparing them with each other and with three godfathers and one godmother of smaller regions that have begun their transformative efforts more recently. Using theories of networking and diffusion of innovation, we advance tentative conclusions about the factors that enable a godfather’s effective action, and about the newer godfathers’ or godmothers’ likelihood of success. These small-sample results suggest an extension of social network theory to encompass the unique characteristics of a tiny but highly influential minority: The godfathers who drive technological and economic change in regions.
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    Competitiveness and Entrepreneurship in Latin America
    (Pontificia Universidad Católica del Perú. CENTRUM, 2008) Hnyilicza, Esteban
    This paper reviews the empirical evidence on the critical factors impinging on the success or failure of enterprise development policies in Latin America. Guidelines are proposed to integrate novel initiatives into a coherent strategy for entrepreneurship development. The proposed approach encompasses four building-blocks: incubators, entrepreneur development, business development services, and incentive mechanisms to promote cooperative behavior. The notion that entrepreneurial development is one of the key links in the transmission mechanisms between the conception stage and the implementation phase of competitiveness policies is stressed.