Peace Corps Volunteers spend 27 months working in developing countries around the world. They orchestrate and implement a myriad of projects in various fields, often entirely on their own. This paper aims to provide insights into how Peace Corps service affects volunteers' entrepreneurial leadership proclivities. To accomplish this a pre / post-test was administered to 74 Returned Peace Corps Volunteers participating in the Paul D. Coverdell Fellowship program at the University of Arizona. Respondents were surveyed to determine their proclivity toward using entrepreneurial strategies and their proclivity to be innovative. Service in the Peace Corps increased the Returned Peace Corps Volunteers' ability to hone their entrepreneurial strategies and innovate. The results showed an increase in the Returned Peace Corps Volunteers' entrepreneurial leadership proclivities after they had completed their service.

A crescente competição mundial exige que as empresas tomem decisões rápidas e, ao mesmo tempo, cada vez mais adequadas. Em particular a decisão de investir, uma das mais importantes para a organização, precisa ser completamente sustentada. Todavia, o conhecimento produzido e disponível sobre projetos de investimentos dá maior importância aos aspectos financeiros, em detrimento da estratégia empresarial, além de envolver apenas a unidade de negócios em vez de toda a cadeia de suprimentos. Nesse sentido, o objetivo do presente trabalho foi identificar quais as novas ocorrências e etapas que surgem na análise de projetos de investimento, a partir da adoção de uma visão estratégica e da expansão do seu enfoque tradicional, da unidade de negócio para o da cadeia de suprimentos. Entres os principais resultados obtidos, podem ser destacados: a elaboração de uma série de novas considerações estratégicas, voltadas à cadeia de suprimentos, que devem ser feitas nas etapas tradicionais de projetos de investimentos; a criação de duas novas etapas para o PI, que procuram analisar alguns fatores importantes na tomada de decisão de investir, mas que até então não recebiam grande atenção da literatura. Adicionalmente, foi realizado um estudo de caso, envolvendo três processos de investimentos distintos, que permitiu comparações entre os resultados alcançados e a realidade das empresas. / The increasing world-wide competition demands companies to take decisions quick and precisely. In particular, the investment decision, one of the most important for organizations, requires to be supported. Nevertheless, the knowledge produced and available on investment projects gives greater importance to the financial aspects, in detriment of the enterprise strategy, besides involving only the business unit, rather than the entire supply chain. Therefore, the objective of this research was to identify which new occurrences and stages appears in the analysis of investment projects, from the adoption of an strategical vision and the expansion of its traditional approach, from the business unit through the supply chain. This research presents, as main results: a series of new strategical considerations, focusing the supply chain, that are relevant in the traditional stages of investment projects; the generation of two new stages for investment projects, in order to analyze important factors during investment decisions, which has not gained great attention from literature. Additionally, a case study was carried out, involving three distinct investments, allowing comparisons between the reached results and the reality of the companies.

The global economy is creating profound and substantial changes for business and industries throughout the world. In the agricultural industry this is also true regarding the active consolidation of the food-value chain that is taking place at a rapid rate and on the other hand a strong component of international competitiveness is becoming a reality with multi-national role players positioning them globally. The consumer on the other hand requires a simpler and cheaper supply chain and wants to participate in the deliberations regarding the end product. In order for Senwes to be successfully positioned as an intermediary, it is evident that change is essential and unavoidable. Therefore, Senwes business platform has to be enlarged, scale of volume has to be added and trade mark has to be addressed. The literature review in this study confirmed that corporate entrepreneurship is recognised as a potential viable means of promoting and sustaining competitiveness, and transforming business and industry opportunities for value-creating innovation. The primary objective of this study is twofold: Firstly, to assess the determinants of corporate entrepreneurship and retail in an agri-business in South Africa and secondly to propose an integrated framework to facilitate the process of establishing and maintaining corporate entrepreneurship and retail within the specific agribusiness in South Africa. A comprehendsive literature overview on corporate entrepreneurship was conducted in chapter 2. In the literature review corporate entrepreneurship was defined and the necessity and fostering of corporate entrepreneurship discussed. A framework with determinants for sustainable corporate entrepreneurship was furthermore explained. The chapter was concluded with a discussion on corporate entrepreneurial strategy. A historic overview of the agricultural industry in South Africa was presented. The focus of the discussion was on the agri-business sector in South Africa with a discussion on Senwes Limited. The nature of retail was discussed in chapter 4. An overview of the nature of retail with a definition of retail was explained. The reason for the change in retail, with different types of retailers as well as a strategic model was noted and discussed. A specific focus in the chapter was given to the strategic drivers for retail success with an overview of key retail success factors. The chapter was concluded with a discussion on the future of retailing. Empirical research was conducted after the literature review. The empirical research Specific climate variable. Work discretion and Management support need development to become present. As far as the retail survey is concerned, six variables describing the theoretical dimensions of Store factor, Technology, Service factor, Merchandise/Product, Price and Segmentation/Target market were extracted. As indicated from the results the constructs Store factor, Technology and Service factor are present in the business. Merchandise/Product, Price and Segmentation/Target market need development to become present in the business. Regarding the perceived success survey is concerned three factors, Financial measures, Process measures, People development were extracted. All three factors are present in the business. . Finally, recommendations were proposed by means of an integrated framework that could assist the agri-business to establish and maintain corporate entrepreneurship and retail within the business focused on discussing the results obtained from the corporate entrepreneurial climate and retail questionnaire. Middle management and first line supervisors/staff of Senwes Village, Retail division, were selected as the sample population for this study and a 65% ratingwas achieved. Basic demographic information were dealt with first, after which the perceptions of the respondents with regard to the corporate entrepreneurial orientation and climate constructs, constructs measuring retail and perceived success of the business were discussed. Furthermore, relationships were determined between demographic variables and the constructs measured in the questionnaire. Following the detailed empirical analysis done in chapter 5, conclusions were made in chapter 6. Regarding the entrepreneurial orientation survey, five variables describing theoretical dimensions of Autonomy, Innovativeness, Risk-taking, Pro-activeness and Competitive aggressiveness were extracted. The constructs Innovativeness, Pro-activeness and Competitive aggressiveness are present in Senwes Village, Retail division. Autonomy and Risk-taking are less prevalent in Senwes Village, Retail division due to the lower average mean score that was obtained from the empirical study. In conclusion to the entrepreneurial climate survey, four variables describing theoretical dimensions of Management Support, Work discretion, Rewards/Reinforcement, Specific climate variables were extracted. The construct that is already active within the business is Rewards/Reinforcement. / Thesis (MBA)--North-West University, Potchefstroom Campus, 2013.

The global economy is creating profound and substantial changes for business and industries throughout the world. In the agricultural industry this is also true regarding the active consolidation of the food-value chain that is taking place at a rapid rate and on the other hand a strong component of international competitiveness is becoming a reality with multi-national role players positioning them globally. The consumer on the other hand requires a simpler and cheaper supply chain and wants to participate in the deliberations regarding the end product. In order for Senwes to be successfully positioned as an intermediary, it is evident that change is essential and unavoidable. Therefore, Senwes business platform has to be enlarged, scale of volume has to be added and trade mark has to be addressed. The literature review in this study confirmed that corporate entrepreneurship is recognised as a potential viable means of promoting and sustaining competitiveness, and transforming business and industry opportunities for value-creating innovation. The primary objective of this study is twofold: Firstly, to assess the determinants of corporate entrepreneurship and retail in an agri-business in South Africa and secondly to propose an integrated framework to facilitate the process of establishing and maintaining corporate entrepreneurship and retail within the specific agribusiness in South Africa. A comprehendsive literature overview on corporate entrepreneurship was conducted in chapter 2. In the literature review corporate entrepreneurship was defined and the necessity and fostering of corporate entrepreneurship discussed. A framework with determinants for sustainable corporate entrepreneurship was furthermore explained. The chapter was concluded with a discussion on corporate entrepreneurial strategy. A historic overview of the agricultural industry in South Africa was presented. The focus of the discussion was on the agri-business sector in South Africa with a discussion on Senwes Limited. The nature of retail was discussed in chapter 4. An overview of the nature of retail with a definition of retail was explained. The reason for the change in retail, with different types of retailers as well as a strategic model was noted and discussed. A specific focus in the chapter was given to the strategic drivers for retail success with an overview of key retail success factors. The chapter was concluded with a discussion on the future of retailing. Empirical research was conducted after the literature review. The empirical research Specific climate variable. Work discretion and Management support need development to become present. As far as the retail survey is concerned, six variables describing the theoretical dimensions of Store factor, Technology, Service factor, Merchandise/Product, Price and Segmentation/Target market were extracted. As indicated from the results the constructs Store factor, Technology and Service factor are present in the business. Merchandise/Product, Price and Segmentation/Target market need development to become present in the business. Regarding the perceived success survey is concerned three factors, Financial measures, Process measures, People development were extracted. All three factors are present in the business. . Finally, recommendations were proposed by means of an integrated framework that could assist the agri-business to establish and maintain corporate entrepreneurship and retail within the business focused on discussing the results obtained from the corporate entrepreneurial climate and retail questionnaire. Middle management and first line supervisors/staff of Senwes Village, Retail division, were selected as the sample population for this study and a 65% ratingwas achieved. Basic demographic information were dealt with first, after which the perceptions of the respondents with regard to the corporate entrepreneurial orientation and climate constructs, constructs measuring retail and perceived success of the business were discussed. Furthermore, relationships were determined between demographic variables and the constructs measured in the questionnaire. Following the detailed empirical analysis done in chapter 5, conclusions were made in chapter 6. Regarding the entrepreneurial orientation survey, five variables describing theoretical dimensions of Autonomy, Innovativeness, Risk-taking, Pro-activeness and Competitive aggressiveness were extracted. The constructs Innovativeness, Pro-activeness and Competitive aggressiveness are present in Senwes Village, Retail division. Autonomy and Risk-taking are less prevalent in Senwes Village, Retail division due to the lower average mean score that was obtained from the empirical study. In conclusion to the entrepreneurial climate survey, four variables describing theoretical dimensions of Management Support, Work discretion, Rewards/Reinforcement, Specific climate variables were extracted. The construct that is already active within the business is Rewards/Reinforcement. / Thesis (MBA)--North-West University, Potchefstroom Campus, 2013.

A crescente competição mundial exige que as empresas tomem decisões rápidas e, ao mesmo tempo, cada vez mais adequadas. Em particular a decisão de investir, uma das mais importantes para a organização, precisa ser completamente sustentada. Todavia, o conhecimento produzido e disponível sobre projetos de investimentos dá maior importância aos aspectos financeiros, em detrimento da estratégia empresarial, além de envolver apenas a unidade de negócios em vez de toda a cadeia de suprimentos. Nesse sentido, o objetivo do presente trabalho foi identificar quais as novas ocorrências e etapas que surgem na análise de projetos de investimento, a partir da adoção de uma visão estratégica e da expansão do seu enfoque tradicional, da unidade de negócio para o da cadeia de suprimentos. Entres os principais resultados obtidos, podem ser destacados: a elaboração de uma série de novas considerações estratégicas, voltadas à cadeia de suprimentos, que devem ser feitas nas etapas tradicionais de projetos de investimentos; a criação de duas novas etapas para o PI, que procuram analisar alguns fatores importantes na tomada de decisão de investir, mas que até então não recebiam grande atenção da literatura. Adicionalmente, foi realizado um estudo de caso, envolvendo três processos de investimentos distintos, que permitiu comparações entre os resultados alcançados e a realidade das empresas. / The increasing world-wide competition demands companies to take decisions quick and precisely. In particular, the investment decision, one of the most important for organizations, requires to be supported. Nevertheless, the knowledge produced and available on investment projects gives greater importance to the financial aspects, in detriment of the enterprise strategy, besides involving only the business unit, rather than the entire supply chain. Therefore, the objective of this research was to identify which new occurrences and stages appears in the analysis of investment projects, from the adoption of an strategical vision and the expansion of its traditional approach, from the business unit through the supply chain. This research presents, as main results: a series of new strategical considerations, focusing the supply chain, that are relevant in the traditional stages of investment projects; the generation of two new stages for investment projects, in order to analyze important factors during investment decisions, which has not gained great attention from literature. Additionally, a case study was carried out, involving three distinct investments, allowing comparisons between the reached results and the reality of the companies.

The primary purpose of this study was to explore a model that examines the relationships among the external environment, entrepreneurial strategy, mechanistic-organic structure and financial performance of restaurant franchisors from the perspective of franchisees. The final structural model indicated that restaurant franchisees perceive that franchisors' entrepreneurial strategy makes a highly positive contribution to franchisors' financial performance. The external environment is perceived to have a negative impact on franchisor's financial performance. Franchisees also perceived that franchisor's entrepreneurial strategy and mechanistic-organic structure could have a significantly and mutually positive impact on each other. The basic value of understanding entrepreneurial strategy is the prediction of certain financial outcomes. Entrepreneurial strategy proved to have a very significant impact on the franchisor's financial performance from the perspective of restaurant franchisees. However, franchisors' entrepreneurial strategy was not always perceived to guarantee financial success because of the negative impact of the external environment in the restaurant franchising industry on financial performance. Furthermore, restaurant franchisees perceived the franchisor's external environment in the industry was unlikely to contribute to the franchisor's entrepreneurial strategy or mechanistic-organic structure. Restaurant franchisees viewed that a high level of franchisors' entrepreneurial strategy had a mutual relationship with their organic structure. It is significant in their perception that their free-flowing relationship, authority, and communication involvement in the franchisor's decision-making process establish high levels of franchisors' entrepreneurial strategy. However, franchisors' mechanistic-organic structure is not necessarily perceived to influence franchisors' financial performance positively. The indirect effect of mechanistic-organic structure on financial performance through entrepreneurial strategy was not perceived to be significant. Restaurant franchisees perceive that franchisors' entrepreneurial strategy is driven by mechanistic-organic structure in the franchising system, not by external environmental change in the industry. It is very understandable for franchisees to perceive this way, because franchisees constantly provide franchisors with local environmental information through franchising communication and relationship channels. Restaurant franchisees compete with other restaurants in many local markets, so that they are knowledgeable about significant changes in the local environment. Restaurant franchisees might perceive that the local environment is a more critical issue to franchisors' entrepreneurial strategy than is the general external environment in the industry. Thus, they might not think of the external environment in the industry as important enough to have an influence on entrepreneurial strategy and mechanistic-organic structure, except on franchisors' financial performance. / Ph. D.

Entrepreneurs formulate and implement strategies to tackle different knowledge problems over the entrepreneurial journey. This dissertation systematically disentangled and compared the value of two strategic decision logics that have been tested little in the extant entrepreneurship literature: the strategic decision logic that leverages speed advantages versus the logic that leverages comprehensive advantages. Using a pseudo-NK simulation method first in the management and entrepreneurship fields, the comparative effectiveness of new product development strategies that leverage speed (e.g., the lean method [paper one] and a modular strategy [paper two]) versus comprehensiveness (e.g., a more comprehensive method [paper one] and a parallel strategy [paper two]) was tested in the first and second essays of the dissertation. In the third essay, I systematically reviewed, analyzed, and disentangled two existing corporate strategy constructs of decision speed and decision comprehensiveness by investigating different ways these decision strategies could be effective within entrepreneurship. I also used a multilevel meta-analysis to synthesize and test the contingent role of decision speed and decision comprehensiveness in different entrepreneurial decision contexts. That is, I found that the value of these two entrepreneurial strategies would be contingent upon the external and internal conditions of ventures. Overall, this dissertation shows that strategies that leverage comprehensiveness might even be more effective in entrepreneurship than the strategies that leverage speed advantages, depending on the internal and external decision contexts. / Doctor of Philosophy / Entrepreneurs venture into the unknown to capture abnormal profits. Specifically, entrepreneurs make efforts to develop novel products/services, the market value of which is yet unknown. Thus, a rapid decision-making strategy is typically considered a good decision strategy because it allows entrepreneurs to test the potential new products first and then use the real-time feedback and information that come directly from the market (where there is a high level of 'unknowingness') after testing the products to update those that better satisfy market demands. However, such entrepreneurial strategies that leverage quick decisions do not necessarily capture profits because early adopters from which entrepreneurs collect feedback do not necessarily represent mainstream customers. Rather, it is possible that the market feedback obtained through quick product experimentations fails to indicate actual market demands. Hence, more comprehensive strategies can be a good alternative to rapid decision strategies (e.g., lean startups) for entrepreneurs. Specifically, entrepreneurs can use more comprehensive product designs (paper one), employ systematic approaches (e.g., advanced technologies such as artificial intelligence) to create multiple potential product candidates (paper three), and experiment with multiple products simultaneously (paper two) for new product development. However, this dissertation shows that the effectiveness of comprehensive strategies compared with the entrepreneurial strategies that leverage speed is contingent upon the internal contexts (e.g., available resources and venture lifecycles) and external conditions (e.g., market features).

Atualmente, as organizações empresariais estão inseridas em um ambiente complexo, mutável, interconectado e turbulento, sinalizando a necessidade do uso de estratégias que norteiem a direção e o foco de seus administradores. Com a crescente globalização de mercados e o aumento gradativo da concorrência, o planejamento estratégico pode propiciar às organizações resultados positivos tais como rentabilidade, inovação, criação e manutenção de vantagem competitiva elementos indispensáveis à sobrevivência em longo prazo. Porém, esse processo, de aplicação formal e complexa, demanda tempo e dedicação dos administradores em sua elaboração, implementação, avaliação e controle e ação corretiva. É nessa perspectiva que este trabalho se insere, tendo como objetivo investigar as práticas relativas ao processo de planejamento estratégico nas empresas de pequeno, médio e grande porte do setor metalmecânico da Serra Gaúcha considerado o segundo maior polo do Brasil. Para tal, um instrumento de pesquisa foi aplicado em 361 empresas para identificar como praticam essas quatro etapas do planejamento estratégico à luz da literatura. Assim, utilizou-se a pesquisa quantitativa, com a análise dos dados através da estatística univariada e multivariada para identificar os fatores para os objetivos específicos. A coleta de dados resultou em uma amostra de 244 empresas respondentes, sendo que 150 não aplicam o planejamento estratégico atualmente. Assim, procedeu-se a análise dos dados, sendo que os principais resultados com as 94 empresas que praticam o processo de planejamento estratégico indicam que 96% das empresas estudadas praticam a etapa de elaboração, 79% a de implementação, 76% a de avaliação e controle e 76% praticam a ação corretiva. Porém, as empresas de grande porte praticam em maior grau a etapa de avaliação e controle se comparadas com as de pequeno porte e as empresas com os melhores resultados no faturamento efetuam com maior rigor a etapa de avaliação e controle e a ação corretiva do processo de PE. Além disso, 89% das empresas pesquisadas consideram fundamental o grau de contribuição do planejamento estratégico para os resultados da empresa, independente da atuação, porte ou quantidade de funcionários. / Submitted by Marcelo Teixeira (mvteixeira@ucs.br) on 2014-05-29T17:39:04Z No. of bitstreams: 1 Dissertacao Susana Elisabeth Neumann.pdf: 1132148 bytes, checksum: 9c289f22cb7563f4da7c92251ca5b049 (MD5) / Made available in DSpace on 2014-05-29T17:39:05Z (GMT). No. of bitstreams: 1 Dissertacao Susana Elisabeth Neumann.pdf: 1132148 bytes, checksum: 9c289f22cb7563f4da7c92251ca5b049 (MD5) / Nowadays business organizations are inserted into a complex, mutable, interconnected, and turbulent environment, signaling the need to use strategies that can guide which direction to go and help administrators to focus. With the continuously growing globalization of markets and the gradual increase in competition, strategic planning can offer positive results like profitability, innovation, creation and maintenance of a competitive advantage indispensable elements for a long term survival. However, this process, of a formal and complex application, requires time and dedication from the administrators for its development, implementation, assessment and control and corrective actions. It is in that perspective that this work is embedded, having as its objective to investigate the practices related to the process of strategic planning in small, medium and large size companies from the metal-mechanical sector of Serra Gaúcha - considered the second largest hub in Brazil. A survey instrument was used to investigate how the 361 companies practice those four stages of the strategic planning process in the light of the literature. A quantitative research was used. Data analysis was performed to identify the factors for the specific objectives. Data collection resulted in a sampling of 244 respondent companies, out of which 150 do not practice strategic planning. Therefore, after the data analysis, the main results from the 94 companies that put the strategic planning process into practice indicate that 96% of the companies studied practice the elaboration stage, 79% practice the implementation stage, 76% practice the assessment and control stage, and 76% practice the corrective action stage. However, the large size companies practice the assessment and control stage in a higher degree in comparison to small size companies, and the companies with the best billing results practice a more rigorous assessment and control stage and the corrective action of the strategic planning process. Moreover, 89% of the companies researched find that the degree of strategic planning is fundamental for the results obtained by the firm, regardless of the performance, size or number of employees.

Atualmente, as organizações empresariais estão inseridas em um ambiente complexo, mutável, interconectado e turbulento, sinalizando a necessidade do uso de estratégias que norteiem a direção e o foco de seus administradores. Com a crescente globalização de mercados e o aumento gradativo da concorrência, o planejamento estratégico pode propiciar às organizações resultados positivos tais como rentabilidade, inovação, criação e manutenção de vantagem competitiva elementos indispensáveis à sobrevivência em longo prazo. Porém, esse processo, de aplicação formal e complexa, demanda tempo e dedicação dos administradores em sua elaboração, implementação, avaliação e controle e ação corretiva. É nessa perspectiva que este trabalho se insere, tendo como objetivo investigar as práticas relativas ao processo de planejamento estratégico nas empresas de pequeno, médio e grande porte do setor metalmecânico da Serra Gaúcha considerado o segundo maior polo do Brasil. Para tal, um instrumento de pesquisa foi aplicado em 361 empresas para identificar como praticam essas quatro etapas do planejamento estratégico à luz da literatura. Assim, utilizou-se a pesquisa quantitativa, com a análise dos dados através da estatística univariada e multivariada para identificar os fatores para os objetivos específicos. A coleta de dados resultou em uma amostra de 244 empresas respondentes, sendo que 150 não aplicam o planejamento estratégico atualmente. Assim, procedeu-se a análise dos dados, sendo que os principais resultados com as 94 empresas que praticam o processo de planejamento estratégico indicam que 96% das empresas estudadas praticam a etapa de elaboração, 79% a de implementação, 76% a de avaliação e controle e 76% praticam a ação corretiva. Porém, as empresas de grande porte praticam em maior grau a etapa de avaliação e controle se comparadas com as de pequeno porte e as empresas com os melhores resultados no faturamento efetuam com maior rigor a etapa de avaliação e controle e a ação corretiva do processo de PE. Além disso, 89% das empresas pesquisadas consideram fundamental o grau de contribuição do planejamento estratégico para os resultados da empresa, independente da atuação, porte ou quantidade de funcionários. / Nowadays business organizations are inserted into a complex, mutable, interconnected, and turbulent environment, signaling the need to use strategies that can guide which direction to go and help administrators to focus. With the continuously growing globalization of markets and the gradual increase in competition, strategic planning can offer positive results like profitability, innovation, creation and maintenance of a competitive advantage indispensable elements for a long term survival. However, this process, of a formal and complex application, requires time and dedication from the administrators for its development, implementation, assessment and control and corrective actions. It is in that perspective that this work is embedded, having as its objective to investigate the practices related to the process of strategic planning in small, medium and large size companies from the metal-mechanical sector of Serra Gaúcha - considered the second largest hub in Brazil. A survey instrument was used to investigate how the 361 companies practice those four stages of the strategic planning process in the light of the literature. A quantitative research was used. Data analysis was performed to identify the factors for the specific objectives. Data collection resulted in a sampling of 244 respondent companies, out of which 150 do not practice strategic planning. Therefore, after the data analysis, the main results from the 94 companies that put the strategic planning process into practice indicate that 96% of the companies studied practice the elaboration stage, 79% practice the implementation stage, 76% practice the assessment and control stage, and 76% practice the corrective action stage. However, the large size companies practice the assessment and control stage in a higher degree in comparison to small size companies, and the companies with the best billing results practice a more rigorous assessment and control stage and the corrective action of the strategic planning process. Moreover, 89% of the companies researched find that the degree of strategic planning is fundamental for the results obtained by the firm, regardless of the performance, size or number of employees.

The purpose of this thesis is to uncover and examine the processes that start-up entrepreneurs go through while designing and then developing their business models. This is done with the intent of deciphering the kind of development that might ultimately lead to a unique or innovative business model. This study uses primary qualitative data generated from interviews with founding entrepreneurs and managers who still participate in running the organization. Each of these organizations participates in the men’s retail market. The research design and methodology of this research uses a grounded-theory coding procedure to analyze the data. Three questions guide this research forward and the findings are threefold. First, for these organizations two business model design paths were followed, herein referred to as the path to ‘Alleviate Pain’ and as the path to ‘Adopt and Modify.’ Second, entrepreneurial leaders tended to act as arbiters when developing their business models, mediating between the set of information accrued during operations and three identified factors. Thirdly, new research into whether or not business model innovations are the result of ex-ante insights or ex-post operational learning is presented. And the findings tend to indicate that both ex-ante insights and ex-post learning are important, but their importance is temporally induced. Lastly, a brief discussion is carried out on how this research informs the entrepreneurial business model creation process (see entrepreneurial practicum) and how it adds to the current literature on business models and business model innovation.