Associate Professor of Marketing Ralitza Nikolaeva in co-authorship with Marta Bicho – IPAM, Carmen Lages – Nova School of Business and Economics and Fernando Ferreira – ISCTE-IUL were nominated for a best paper award called “1902 – HYBRID MICRO-ENTERPRISES – FOUNDING MOTIVES AND THE MEANING OF SUCCESS” at EURAM conference in Glasgow, Scotland, UK.
That research explored hybrid micro-entrepreneurs’ founding motivations and their transformations into visions of success. They conducted two studies – one exploring the founding motivations and a second one the perceptions of success – taking the managers’ point of view in the context of hybrid enterprises pursuing both economic and non-economic goals.
They found that entrepreneurs are driven mostly by non-economic goals, which are later reflected in their vision of success. To build the evaluation framework they applied a multiple-criteria decision analysis with a practical application of deriving participants’ scores. The success framework consists of seven indicators: training, professional development, marketing, management, external factors, infra-structures and organizational aspects. Human capital factors are perceived as the most important for success – translating the professional motivations for founding. Reversely, external factors, which are usually considered crucial to attain legitimacy and longevity, are perceived the least important factors.