Part time and full time rural entrepreneurship from strategic management perspective - evidence from Finnish equine enterprises

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http://hdl.handle.net/10138/299153

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Rantamäki-Lahtinen , L M , Väre , M & Saastamoinen , M 2018 , ' Part time and full time rural entrepreneurship from strategic management perspective - evidence from Finnish equine enterprises ' , RENT XXXII Research in Entrepreneurship and Small Business Conference 2018 , Toledo , Spain , 15/11/2018 - 16/11/2018 pp. 1-10 .

Title: Part time and full time rural entrepreneurship from strategic management perspective - evidence from Finnish equine enterprises
Author: Rantamäki-Lahtinen, Leena Maija; Väre, Minna; Saastamoinen, Markku
Contributor: University of Helsinki, Agricultural Economics
Date: 2018
Language: eng
Number of pages: 10
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URI: http://hdl.handle.net/10138/299153
Abstract: Currently, little is known about how full or part time rural enterprises develop and are managed. In this study, the objective is to find out how the part time and full time equine enterprises could be managed from resource based view. The objectives addressed in this 1) to describe the differences and similarities of part time and full time equine enterprises 2) to analyse the subjective economic success of equine enterprises and to describe the different critical resources they might possess. The data used was collected via internet survey on spring 2017 from 432 equine enterprises. The data were analysed by principal component analysis, cluster analysis and the non-parametric tests. Part and full time entrepreneurs had different business goals; full time entrepreneurs stressed more often economic objectives. As one could expect, part time enterprises has smaller turnover and had less personnel. Entrepreneurs in full time enterprises had been working longer within the industry and also occupancy in their stables was higher. This might indicate that there are also some qualitative differences between firms. However, there were variation within the groups. For example, there were some part time enterprises that had higher turnover than most of the full time enterprises. The majority of part-time enterprises had less critical resources. As majority of the respondents had selected differentiation strategy, it would very important to improve these resources in order to improve the profitability of equine enterprises. Both part time and full time entrepreneurship are important for the development of sector. We would like to stress that both forms, part time and full time entrepreneurship are important for the development of sector. Enterprises are quite different and they operate on a little different lines of businesses, although many of them are diversified. Therefore they complement each other. Networking and cooperation will bring opportunities for both groups. However, the dynamics of the sector requires full time and smaller, but professionally run part time enterprises. Enhancing management skills is important also in small part time enterprises. For example pricing services too low by using other income as substitute is not sustainable for the sector.
Subject: 415 Other agricultural sciences
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