Social Capital and Strategy Effectiveness: An Empirical Study of Entrepreneurial Ventures in a Transition Economy
Автор: I. Manev
Год издания:
Although new ventures’ competitive positioning and their founders’ social networks are both recognized as important in the context of transition economies, not much is known about their multiplicative effect on performance. We build on the strategic management literature and social network theory to develop theoretical predictions about the role of competitive strategies and social capital for entrepreneurial performance. These are tested with survey data from Bulgaria. We find that both the venture’s competitive strategic positioning and the founder’s networking positively influence performance. The hypothesized moderating effect of networking for the relationship between differentiation strategy and performance received only tentative support. Contrary to expectations, we find a negative moderating effect of networking for the relationship of cost leadership with performance. These results suggest that the entrepreneur’s network plays a role in shaping how strategies influence performance by possibly upholding differentiation and deemphasizing cost leadership strategy. Implications for managerial practice and public policy are discussed.
The Statement of Randolph Carter
Автор: Говард Филлипс Лавкрафт
Год издания:
"The Statement of Randolph Carter" is a short story by H. P. Lovecraft which tells of a traumatic event in the life of Randolph Carter, a student of the occult loosely representing Lovecraft himself.
The Transition of Juan Romero
Автор: Говард Филлипс Лавкрафт
Год издания:
The story involves a mine that uncovers a very deep chasm, too deep for any sounding lines to hit bottom. The night after the discovery of the abyss the narrator and one of the mine's workers, Juan Romero, venture inside the mine, drawn against their will by a mysterious rhythmical throbbing in the ground.