Browsing by Subject "entrepreneurship"

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  • Lehtonen, Oskari (Hanken School of Economics, 2011-09-20)
    Previous research has been inconclusive regarding the impact of those who invest in entrepreneurs. Consider for a moment how potentially important they are to entrepreneurs. They for example decide who deserves funding, how much time they contribute to their portfolio firms, how they grant entrepreneurs access to their networks, and help entrepreneurs acquire additional funding. In sum, investors potentially have a great impact on the success of entrepreneurs. It is therefore important that we better understand the environment, relationships and context in which parties operate. This thesis contains five articles that explore investors’ and entrepreneurs’ relationships from various viewpoints, in theoretical frameworks, and use a variety of data and research methods. The first article is a literature review that summarises what we know of venture capital, business angel and corporate venture capital funding. The second article studies the entrepreneurs’ investor selection process, its consequences, and identifies key factors that influence the process. Earlier, the common approach has been to concentrate research on the investors’ selection policy, not the entrepreneurs’. The data and conclusions are based on multiple case studies. The article analyses how entrepreneurs can ensure that they get the best possible investor, when it is possible for an entrepreneur to select an investor, and what are the consequences of investor selection. The third article employs power constructs (dependency, power balance/imbalance, power sources) and analyses their applicability in the investor-entrepreneur relationship. Power constructs are extensively studied and utilised in the management and organisation literature. In entrepreneur investor relationships, power aspects are rarely analysed. However, having the ability to “get others to do things they would not otherwise do” is a very common factor in the investor-entrepreneur relationship. Therefore, employing and analysing the applicability of power constructs in this setting is well founded. The article is based on a single case study but suggests that power constructs could be applicable and consequently provide additional insights into the investor-entrepreneur relationship. The fourth article studies the role of advisors in the venture capital investment process and analyses implications for research and practice, particularly from the entrepreneurs’ perspective. The common entrepreneurial finance literature describes the entrepreneur-investor relationship as linear and bilateral. However, it was discovered that advisors may influence the relationship. In this article, the role of advisors, operating procedures and advisors’ impact on different parties is analysed. The fifth article concentrates on investors’ certification effect. The article measures and demonstrates that venture capital investment is likely to increase the credibility (in terms of media attention) of early stage firms, those that most often need additional credibility. Understanding investor certification can affect how entrepreneurs evaluate investment offers and how investors can make their offers appear more lucrative.
  • Peltonen, Juhana; Johansson, Edvard; Wincent, Joakim (2020-06-22)
    Attention‐deficit hyperactivity disorder (ADHD) is a highly inheritable condition with a rather stable prevalence over time and geography, and it is associated with a broad range of negative life outcomes. Increasing knowledge on the condition has led to a growing trend of dampening ADHD symptoms through medication. Although this development has led to many positive outcomes, the broader societal implications are still poorly understood. In particular, person‐level studies suggest that ADHD‐like behavior may possess some advantages for engaging in entrepreneurship and the initiation of new businesses, which is considered a key activity for economic development. Using recent panel data from 11 countries and one special administrative region (SAR), we investigate if the increasing use of ADHD medication in adults is associated with an unintended outcome of reducing entrepreneurship. We find that a roughly one unit increase in the prevalence of adult ADHD medication is associated with a one unit decrease in limited liability company registrations per working age population. In practical terms, the effect of a one within‐country/SAR standard deviation increase of adult ADHD medication prevalence corresponds to a decrease in new business formation of 20% of its mean in the sample.
  • Rannikko, Heikki (Svenska handelshögskolan, 2012-02-27)
    This study participates in several discussions on new technology-based firms, both from a population-level viewpoint and a firm-level viewpoint. The overall objective of this study is to examine how new technology-based firms grow. For the population level research this study provides new knowledge by analysing growth, and high growth, in the context of new technology-based firms. As a firm level phenomenon the present study provides new knowledge, both for the behavioural orientation literature and the resource dependence literature, by examining the possible causes and implications of entrepreneurial orientation and external resource mobilisation. The results of the descriptive empirical analysis picture the group of technology-based firms as a distinct sector of the economy. The emphasis on technology is shown through the finding that new technology-based firms’ managers value the distinction of technology over other business goals. Concerning growth patterns it is found that only a minority of new firms experience high annual growth, that growth is erratic and that it may take a long time for a new technology-based firm to achieve growth. The testing of the theoretical model suggests that entrepreneurial orientation is positively associated with growth performance and that the experienced growth performance is positively associated with entrepreneurial orientation. In conclusion, it seems that positive experiences in the past reinforce entrepreneurial orientation, which further strengthens the development of a firm. Concerning moderating factors it is found that technological distinctiveness modifies the relationship between entrepreneurial orientation and growth. The finding hints that entrepreneurship (risk-taking, boldness and pro-activeness) is more beneficial with strategies in which technological excellence and sophistication are not the top priority. In support of the resource dependence argument, it was found that financial resource mobilisation is positively associated with growth. The findings further give support for the view that embeddedness in a firm community of practice is associated with a higher level of resource mobilisation in a firm level. Concerning financial resource mobilisation, the results suggest that there is a positive association, both between identification with a community of practice and financial resource mobilization and between nature of co-operation in a community of practice and financial resource mobilisation. Towards operational resource mobilisation similar associations were not found. Overall, these results contribute to the innovation policy discussion by suggesting that hands-on innovation policy interventions may have firm-level effects, in addition to those of technological and business learning. The results suggest indirectly that supporting firms to create and maintain close ties with their exchange partners within a community of practice may lead to improved resource mobilisation e.g. through increased awareness of firm participants. This discovery contributes both to the research on innovation policy interventions and to the research on a more nuanced view of the resource dependence perspective.
  • Mohamadi, Ashkan (Hanken School of Economics, 2019-11-06)
    The popularity of entrepreneurship as a practice is matched by scholars’ increasing attention to the phenomenon. In the management literature, entrepreneurship has become a field in its own right. Several scholars have argued that the right types of entrepreneurship, such as opportunity entrepreneurship, are an important driver of economic development and growth through employment, innovation, and structural transformation. Thus, it is unsurprising that finding ways to encourage entrepreneurship, especially the preferred types, is of interest to researchers and policymakers alike. In order to do so, they need to understand why the incidence of entrepreneurship is different from one country to another, and in that respect, country-level factors are determining the rate of entrepreneurship. These factors create the environment in which entrepreneurial opportunities and activities can be defined, generated, and also limited. Surprisingly, however, our understanding of the ways in which these national and institutional environments are fertile or fatal for entrepreneurship is limited, and study results on the benefits of various aspects of institutions to entrepreneurship continue to be debated. The overall objective of this thesis and the cases presented herein is to investigate how institutions and institutional factors affect opportunity exploitation at country level. We acknowledge that both institutional settings and the process of opportunity exploitation are complex phenomena. To address the research objective, this thesis builds on two co-authored research articles and one sole-authored. The methodological approach of the current work is nomothetic and quantitative. Moderation analysis at country level is the main approach applied in all the articles. As a result, we examined regression models that include interaction terms. In the articles, we perform fixed effect regression analyses. To be able to do the analyses, we utilize data from Adult Population Surveys of Global Entrepreneurship Monitor (GEM). Previously a challenge in studying country-level entrepreneurship, institutions, and policymaking has been the lack of data. In recent years, the rise of GEM as harmonized and internationally comparable database on entrepreneurial activities has created the opportunity more effectively to conduct research in those areas. This thesis fills two specific gaps. First, our articles examined under-investigated institutional settings, in order to stimulate future research. This furthered our understanding, recognizing several theoretical concepts such as institutional incongruence. Additionally, we conclude that different aspects of institutions should not be considered and studied in isolation. Second, instead of studying direct impacts on startup rates, we examined how opportunities are discovered and exploited at country level. This is important because opportunity discovery is a major step in the entrepreneurship process, and we learned more about economic development through entrepreneurship, following the research stating that opportunity entrepreneurship is the preferred type of entrepreneurship for that purpose.
  • Keinonen, Henrik (Hanken School of Economics, 2021-12-08)
    The aim of this research is to study agency problems in entrepreneurial ventures and publicly listed companies (PLCs). Agency problems originate from asymmetric information, and can be detrimental to a firm’s investment attractiveness, high-growth ventures’ financial markets, and listed companies’ valuation. The overarching research question is what are the agency problems among entrepreneurial ventures and publicly listed companies, are these problems similar in nature, and can they be prevented or cured? The question is addressed in three different settings. Paper I reflects on business angel networks’ (BANs) value to startup entrepreneurs and their societal context, and provides statistics on BANs in Europe and the US. Paper II empirically investigates the impact of Israeli scaleup entrepreneurs’ criteria when selecting a Venture Capital (VC) firm, inverting the typical research order. Paper III contributes by providing answers to why certain blockholders in Finnish PLCs do not take responsibility for the company’s long-run development, but instead maximise their private utility. The authors employ descriptive statistics and quantitative research: interview data, an ordered logit regression model, longitudinal panel data with cross-sectional and time-series observations, and ordinary least squares regression. Agency problems in startups stem from the transactional process between entrepreneur and angel investor. In this setting, the entrepreneur might provide untruthful information to the investor or abuse the funding. BAN service quality may, however, reduce information asymmetries in entrepreneurial venture quality, and build trust between entrepreneurs and investors. BANs in more mature business angel markets tend to offer better quality services than those in less mature markets. Agency problems in scaleups manifest between VC firms and entrepreneurs, where VC managers may push entrepreneurs to take excessive risks that endanger their personal wealth. Empirically, entrepreneurial experience has a negative relationship with the importance entrepreneurs attach to valuation, which is moderated by the importance they attach to VC networks and reputation. Honest signalling of the parties’ qualities may reduce agency problems in the startup and scaleup phases. Large state ownership and company value are negatively associated, suggesting that government owners may promote political goals rather than long-term value for all shareholders. Liquidating state ownership in non-strategic companies and re-investing the assets through ETF funds would constitute a Pareto improvement. Ultimately, this study shows that agency problems are contextual and differ on the firm’s stage of development, namely startup, scaleup or PLC. But agency problems can be alleviated, which is important to the aggregate economy.
  • Tötterman, Henrik (Svenska handelshögskolan, 2008-11-04)
    This study focuses on self-employed industrial designers and how they emerge new venture ideas. More specifically, this study strives to determine what design entrepreneurs do when they create new venture ideas, how venture ideas are nurtured into being, and how the processes are organized to bring such ideas to the market in the given industrial context. In contemporary times when the concern for the creative class is peaking, the research and business communities need more insight of the kind that this study provides, namely how professionals may contribute to their entrepreneurial processes and other agents’ business processes. On the one hand, the interviews underlying this study suggest that design entrepreneurs may act as reactive service providers who are appointed by producers or marketing parties to generate product-related ideas on their behalf. On the other hand, the interviews suggest that proactive behaviour that aims on generating own venture ideas, may force design entrepreneurs to take considerable responsibility in organizing their entrepreneurial processes. Another option is that they strive to bring venture ideas to the market in collaboration, or by passing these to other agents’ product development processes. Design entrepreneurs’ venture ideas typically emerge from design related starting points and observations. Product developers are mainly engaged with creating their own ideas, whereas service providers refer mainly to the development of other agents’ venture ideas. In contrast with design entrepreneurs, external actors commonly emphasize customer demand as their primary source for new venture ideas, as well as development of these in close interaction with available means of production and marketing. Consequently, design entrepreneurs need to address market demand since without sales their venture ideas may as well be classified as art. In case, they want to experiment with creative ideas, then there should be another source of income to support this typically uncertain and extensive process. Currently, it appears like a lot of good venture ideas and resources are being wasted, when venture ideas do not suite available production or business procedures. Sufficient communication between design entrepreneurs and other agents would assist all parties in developing production efficient and distributable venture ideas. Overall, the findings suggest that design entrepreneurs are often involved simultaneously in several processes that aim at emerging new product related ventures. Consequently, design entrepreneurship is conceptualized in this study as a dual process. This implies that design entrepreneurs can simultaneously be in charge of their entrepreneurial processes, as they operate as resources in other agents’ business processes. The interconnection between activities and agents suggests that these kinds of processes tend to be both complex and multifaceted to their nature.
  • Pietiläinen, Tarja (Svenska handelshögskolan, 2001)
    In this working paper I discuss gendered entrepreneurship by exploring how the media writes about female entrepreneurship. The starting point is that the media when talking and writing about female entrepreneurs and female entrepreneurship, mould meanings of gender in entrepreneurship. I view entrepreneurship and gender as socially constructed, discursive phenomena. To uncover the processes of constructing gender in female entrepreneurship this paper applies a discursive framework, which treats language as a representational system producing and circulating meaning. The focus on language use as action implies that practises of writing and talking about female entrepreneurship ‘make’ gender as much as the women entrepreneurs) themselves: both involve working on culturally shared meanings to make reality intelligible. The data consists of articles published in Yrittäjä, a pro-SME magazine, in 1990-1997. In the analysis I show how gender is constructed in media talk. as a women’s issue Women entrepreneurs are constantly compared with men and with an implicitly masculine ideal of entrepreneurship and with strengths and weaknesses of women are displayed pointing out that the meaning making of gender taking place in the data refers to equality discourse. Finally I discuss possible consequences of the hegemonic equality discourse and suggest lines of further research.
  • Salojärvi, Sari (Svenska handelshögskolan, 2005-05-11)
    This study explores the role and nature of knowledge management (KM) in small and medium-sized companies (SMEs). Even though the role of knowledge as a competitive advantage is commonly recognized in the SME sector, almost no attention has been paid to the managing and developing of knowledge in SMEs. This thesis consists of three different sub-studies that were reported in four individual essays. The results of the questionnaire study indicate that nearly all companies that responded to the questionnaire (N = 108) found intangible assets, i.e. knowledge resources to be their main source of competitive advantage. However, only less than a third of the companies actively deal with knowledge management. The results also indicate a significant correlation between activity in knowledge management and sustainable organic growth of the company. The interview study (N = 10) explored the context and motives of the SMEs for managing their intangible assets, and the concrete practices of knowledge management. It turned out that KM facilitated change management, clarification of the vision and new strategy formulation. All the interviewed companies were aiming at improved innovation process, new ways of doing business and attaining an increased “knowledge focus” in their business. Nearly all also aspired to grow significantly. Thus, KM provides a strategy for these SMEs to guarantee their survival and sustainability in the turbulent markets. The action research was a process to assess and develop intangible resources in three companies. The experienced benefits were the clarification of future focus and strategy, creation of a common language to discuss strategic issues within the company, as well as improved balance of different categories of intangible assets. After the process all the case companies had developed in the chosen key areas. Thus, by systematic knowledge management the implementation of new strategic orientation (knowledge focusing) was facilitated. The findings can be summarized in two main points. First, knowledge management seems to serve the purpose of change, renewal and new strategic orientation in the SMEs. It also seems to be closely related to organic growth and innovation. All of these factors can be considered dimensions of entrepreneurship. Second, the conscious development of intangible assets can increase the balance of different categories of intangible assets and the overall knowledge focusing of business. In the case companies, this in turn facilitated the path to the improved overall performance.
  • Anokhin, Sergey; Wincent, Joakim; Parida, Vinit; Chistyakova, Natalya; Oghazi, Pejvak (2018-10-25)
    For a sample of all 88 counties in the State of Ohio over a 5-year period, this study documents the effect of flagship enterprises and concentrated industrial clusters on regional innovation. Consistent with the agglomeration arguments and the knowledge spillover theory of entrepreneurship, both appear to affect regional innovation positively. Additionally, regional educational attainment positively moderates the effect of industrial clusters on innovation. At the same time, flagship enterprises primarily affect regional innovation in regions with low education levels. Results are obtained with the help of conservative econometric techniques and are robust to the choice of alternative dependent variables and estimators. The findings have major policy implications and provide insights into alternative routes to encouraging regional innovation.
  • Laukkanen, Seppo (Svenska handelshögskolan, 2012-05-16)
    Exploration and exploitation complement one another in the organizational learning. Exploration fosters the ability to diversify, while exploitation increases specialization. Together, these two modes promote innovation and subsequent organizational renewal. While exploration facilitates the discovery of new knowledge, exploitation merges this knowledge with previously held knowledge and skills to expand and strengthen the firm. The current scientific literature falls short in explaining in practical terms how this fusion takes place, produces innovations, and renews the strategy of an organization. By leveraging an intimate relationship with the innovation activities of a large-scale multinational enterprise, Laukkanen created an Integrated Process Model of the interplay between ambidextrous innovation activities and the strategy and structure development of a company. The Integrated Process Model highlights the conversion between exploration and exploitation as the central mechanism for establishing a dialogue that fosters reciprocal adjustment between the innovation activity, strategy and structure of the firm. The study identified three conversion patterns that bring the discoveries from the exploration mode to the commercial realm. In the ‘linear’ pattern, the innovation activities execute the fine-grained strategy with the established structure of the company. The linear innovation activities produce incremental innovations that sustain the strategy of the firm. In the ‘transforming’ pattern, an iterative conversion process facilitates concurrent reciprocal adjustments in the innovation activity and strategy and structure of the firm. The adjustments of the strategy and structure are necessary for radical innovations. In the ‘experimenting’ conversion pattern, the activity is intermittently connected to the strategy and structure development of the company. The intermittent connection provides the experimenting activity with the latitude to craft new business entries outside the traditional domain of the company. The intermittent connection between the innovation activity and strategy and structure implies that the strategic learning takes place primarily in retrospect to the experiment. The research illuminated ambidexterity as an eclectic organizational learning phenomenon that cuts through the fabric of an organization. The study captured the ambidexterity phenomenon on three ‘presentation layers’. Ambidexterity was identified both in actions and in their concrete outcomes, i.e. innovations. Additionally, ambidexterity left observable traces on the realized strategy of the firm. Each presentation layer of ambidexterity needs to be managed on its own. However, the study argues that the most decisive factor in making ambidexterity productive is the purposefulness of the continuum across these presentation layers. The three identified innovation patterns represent alternative paths from ambidextrous activities to their eventual outcomes. The Integrated Process Model of ambidexterity provides a conceptualization for actualizing ambidexterity to the strategic benefit of a company. This study provides guidance for firms seeking to promote ambidextrous activities for innovations and organizational renewal.
  • Westanmo, Ida (Hanken School of Economics, 2000)
    This paper discusses mentoring from the mentors' point of view in an entrepreneurial setting. The aim of the paper is to present why mentoring can be considered important for entrepreneurs who are mentors and under what circumstances mentoring is valuable for the mentor. A pilot mentorprogramme was conducted among women entrepreneurs during 1998. A study was made in order to examine the mentors’ perception of the programme. Firstly mentoring and entrepreneurship in Finland are discussed briefly. Secondly the results of the study are presented. The results of the study show that mentoring can be valuable for the mentors both on a vocational and a personal level. However, it is important to choose the mentees of the programme on a rather strict basis. The results demonstrate a need to be careful in choosing mentees.
  • Mantere, Saku; Aula, Pekka; Schildt, Henri; Vaara, Eero (Hanken School of Economics, 2013-04-30)
    We examine how organizational stakeholders use narratives in their psychological processing of venture failure. We identify a range of “narrative attributions”, alternative accounts of failure that actors draw on to process the failure and their role in it. Our analysis provides a view of entrepreneurial failure as a complex social construction, as entrepreneurs, hired executives, employees and the media construct failure in distinctively different ways. Narratives provide means for both cognitive and emotional processing of failure through grief recovery and self-justification.
  • Eriksson, Päivi; Hearn, Jeff; Jyrkinen, Marjut; Merilainen, Susan; Moisander, Johanna; Niemi, Hertta; Rolin, Kristina; Vanhala, Sinikka; Henttonen, Elina; Hiillos, Minna; Katila, Saija; Tallberg, Teemu (Svenska handelshögskolan, 2005-02-10)
    Viimeaikainen sukupuolta ja organisaatiota käsittelevä tutkimus ja kirjallisuus on saanut paljon (toisinaan epäsuoria) vaikutteita feminismiä ympäröivistä keskusteluista. Lisäksi naisten aseman ja kokemuksien tunnistaminen organisaatioissa ja johtamisessa on vaikuttanut tutkimukseen. Erilaisten kansainvälisesti tutkittujen aiheiden kirjo on laaja: sukupuolisuhteet organisaatioiden ja johtoryhmien kulttuureissa ja kommunikaatiossa; sukupuolittunut työnjako; sukupuolittuneet hierarkiat, valta, auktoriteetti ja johtajuus organisaatioissa ja johtamisessa; sukupuolittuneet markkinat; sukupuolittuneet kuvat, symbolit ja mainokset; sukupuoli ja IT teknologia; seksuaalisuus, häirintä, kiusaaminen ja väkivalta organisaatioissa; työn ja kodin yhteensovittaminen; ja niin edelleen. Myös akateemiset organisaatiot sekä niiden sukupuolittuneet valtasuhteet ja johtaminen kaipaavat kipeästi huomiota. Useimpia mainituista alueista on tutkittu ainakin jonkin verran mutta paljon työtä on vielä myös jäljellä. Tämä kokoelma esittelee ajankohtaista suomalaista tutkimusta seuraavista teemoista: tasa-arvo organisaatioissa, naisjohtajuus, yrittäjyyden sukupuoli, verkostot, sukupuolen representaatio sekä sukupuoli ja uusi teknologia. Kokoelma on työryhmän yhdessä koostama joten se on ennen kaikkea yhteistyön tulos. Recent research and literature on the gendering of organisations has been strongly influenced, though sometimes indirectly, by debates in and around feminism, and on recognising women and women’s situations, experiences and voices in organisations and management. The range of topics and issues that have been studied internationally is vast: gender relations in organizational and management groups, cultures and communication; gender divisions of labour; gender divisions of hierarchy, power, authority and leadership in organizations and management; gendered markets; gender imagery, symbols and advertising; gender and information technology; sexuality, harassment, bullying and violence in organisations; home-work relations; and so on. There are also key issues of gender power relations in academic organizations and management themselves, which need urgent attention. Though most of these areas have been researched to some extent, much remains to be done. This collection brings together current Finnish research on: Equality in Organisations, Women in Management, Gender and Entrepreneurship, Networks, Representation of Gender, Gender and ICTs. The book has been put together by an editorial team and is thus first and foremost a collective effort.
  • Stroe, Ioana Silvia (Svenska handelshögskolan, 2017-05-26)
    This work is motivated by the desire to gain a deep understanding of affective experiences of entrepreneurs and their outcomes, in theory and practice. Specifically, the aim of this dissertation is to reframe the conceptualization of passion in entrepreneurship. It does so by uncovering the functioning mechanism through which passion exerts its influence in entrepreneurship as well as by considering the dualistic nature of the passion experience in entrepreneurship. As a whole, this work is guided by a general research question: does passion play a role in the new venture emergence process and if so, how does passion influence the new venture emergence process? The thesis addresses this question through a systematic literature review and three empirical studies. The systematic literature review (Paper I) updates the current state of passion research in entrepreneurship, uncovering thereby yet unanswered questions and research gaps, and thereby informing the following papers of this dissertation. The following three papers look at determinants that influence passion (Paper II) and at passion’s cognitive and motivational outcomes (Paper III and Paper IV). Methodologically, this work combines quantitative research (a longitudinal study and a quasi-experimental cross-sectional study) with mixed methods research designs such as qualitative comparative analysis (based on a cross-sectional study). As a whole, the four papers offer a better understanding of passion in nascent entrepreneurship. First, this dissertation demonstrates that passion can influence, but also be influenced by cognition, and clarifies the important two-way interactions between passion and cognition. Moreover, it furthers our understanding of the dynamic relations between affective and cognitive processes involved in new venture emergence. Second, in theoretically and empirically examining two new functions that passion fulfills in the entrepreneurial process—the emotion regulatory function and the decision-making logic coordination function—this dissertation offers additional and complementary explanations for the importance of passion for entrepreneurship. The current work goes over and above previous studies that looked at passion’s outcomes only considering its valence and offers more fine-grained explanations of the mechanisms through which passion exerts its influence on various critical entrepreneurial outcomes. Third, this dissertation extends the scholarly focus from only harmonious passion to both harmonious and obsessive passion, distinguishes the characteristics of these two forms of passion in entrepreneurship, investigates their development and demonstrates that they can have very different effects on the entrepreneurs’ affective, cognitive and motivational functioning. Therefore, it proves that considering passion in only one of its qualities will lead to an incomplete understanding of passion and its outcomes.
  • Tukiainen, Taina; Burström, Thommie; Lindell, Martin (2019-06-26)
    Technology startups build strategies in order to survive within the framework of business ecosystems. However, the knowledge required to make such strategies effective is scarce. This article poses the question: “How do small technology startups strategize within and between business ecosystems?” Based on an explorative qualitative study, this article defines and presents a dynamic strategic framework of three strategies employed by technology startups. Some startups choose to act within one defined business ecosystem, most startups use a multi-ecosystem strategy to act between and draw benefits from many business ecosystems, and the rest act as ecosystem creators that challenge the logics of existing ecosystems.