Value of Failure: The Spectrum of Challenges for the Economy
()
About this ebook
Growing levels of education, increasing availability of capital, diversification and specialization of economic activities, and the numerous support options available to start a business has led to the creation of more and more micro and small businesses across Europe. But while the process of setting up a business is increasingly straightforward, keeping it going is much tougher. In normal times, business entry and business exit are natural processes, inherent to economic life. Yet, the number of bankruptcies peaked during the recent financial crisis. The Lisbon Partnership had identified the key role of overcoming the stigma of business failure as a strategy for growth and jobs.
There is a clear economic and social rationale in providing a second chance to failed entrepreneurs and helping them derive positive experiences from negative situations. First, businesses set up by restarters grow faster than those of first timers in terms of turnover and jobs created. The case studies of Ford, Hershey and Disney are instructive for young entrepreneurs in this matter.
Second, most of the time, the cause of a business failure is not the incompetence but external circumstances such as a slump in demand, financial crisis or rise of a new competitor. However, this professional failure is often confused with personal failure, and low self-esteem causes individuals to withdraw and retreat to safer employment options.
Third, it is accepted that a society does not generate innovation and productivity by steadfastly avoiding mistakes but rather by learning from them. Yet the culture of and incentive system in Europe does not reflect this.
Value of Failure is a comprehensive attempt to understand the various aspects of the phenomenon of business failure. It enables readers to understand business failure from the perspective of institutional theory; economic failure in the process of small business growth in the context of the shadow economy; Schumpeter’s theory of ‘creative destruction’ and the fear of failure; sustainable economic growth and development and system approach to failures and their impact on the enterprise operation.
Related to Value of Failure
Related ebooks
Value of Failure: The Spectrum of Challenges for the Economy Rating: 0 out of 5 stars0 ratingsEIB Working Papers 2019/03 - Financing and obstacles for high growth enterprises: the European case Rating: 0 out of 5 stars0 ratingsEIB Working Papers 2019/10 - Structural and cyclical determinants of access to finance: Evidence from Egypt Rating: 0 out of 5 stars0 ratingsUnlocking Sustainable Private Sector Growth in the Middle East and North Africa: Evidence from the Enterprise Survey Rating: 0 out of 5 stars0 ratingsCSR and Sustainability: The Big Issues of the Day Rating: 0 out of 5 stars0 ratingsEIB Working Papers 2018/08 - Debt overhang and investment efficiency Rating: 0 out of 5 stars0 ratingsHow State-owned Enterprises Drag on Economic Growth: Theory and Evidence from China Rating: 0 out of 5 stars0 ratingsWhy are women entrepreneurs missing out on funding - Executive Summary: Reflections and considerations Rating: 0 out of 5 stars0 ratingsCorporate Governance and Accountability of Financial Institutions: The Power and Illusion of Quality Corporate Disclosure Rating: 0 out of 5 stars0 ratingsThe Future Path of SMEs: How to Grow in the New Global Economy Rating: 0 out of 5 stars0 ratingsManagement and Leadership Skills that Affect Small Business Survival: A Resource Guide for Small Businesses Everywhere Rating: 0 out of 5 stars0 ratingsThe Co-operative Advantage Rating: 0 out of 5 stars0 ratingsPESTLE Analysis: Understand and plan for your business environment Rating: 4 out of 5 stars4/5Islamic Finance for Small Business Rating: 0 out of 5 stars0 ratingsCapital for Champions: SPACs as a Driver of Innovation and Growth Rating: 0 out of 5 stars0 ratingsEIB Working Papers 2019/07 - What firms don't like about bank loans: New evidence from survey data Rating: 0 out of 5 stars0 ratingsGlobalization, Competitiveness, and Governability: The Three Disruptive Forces of Business in the 21st Century Rating: 0 out of 5 stars0 ratingsThe Entrepreneur: The Economic Function of Free Enterprise Rating: 0 out of 5 stars0 ratingsPESTEL Analysis: Ensure the Continuity of Your Business In 50 minutes Rating: 0 out of 5 stars0 ratings3D Management Revolution Rating: 0 out of 5 stars0 ratingsSustainable Innovation: The impact on the success of US large caps Rating: 0 out of 5 stars0 ratingsTheories of Change: Change Leadership Tools, Models and Applications for Investing in Sustainable Development Rating: 0 out of 5 stars0 ratingsMastering 21st Century Enterprise Risk Management - 2nd Edition: The Future of ERM - Book 1 - Executive's Guide Rating: 0 out of 5 stars0 ratingsThe Business of Influence: Reframing Marketing and PR for the Digital Age Rating: 0 out of 5 stars0 ratingsGlobal Corporate Entrepreneurship: Perspectives, Practices, Principles, and Policies Rating: 0 out of 5 stars0 ratingsUncommon Sense, Common Nonsense: Why some organisations consistently outperform others Rating: 4 out of 5 stars4/5EIB Working Papers 2019/04 - Can survey-based information help to assess investment gaps in the EU? Rating: 0 out of 5 stars0 ratingsMacromodeling Debt and Twin Deficits: Presenting the Instruments to Reduce Them Rating: 0 out of 5 stars0 ratings
Small Business & Entrepreneurs For You
The Ultimate Side Hustle Book: 450 Moneymaking Ideas for the Gig Economy Rating: 4 out of 5 stars4/5Starting a Business All-In-One For Dummies Rating: 4 out of 5 stars4/548 Days to the Work and Life You Love: Find It—or Create It Rating: 3 out of 5 stars3/5Company Rules: Or Everything I Know About Business I Learned from the CIA Rating: 4 out of 5 stars4/5Overcoming Impossible: Learn to Lead, Build a Team, and Catapult Your Business to Success Rating: 5 out of 5 stars5/5Robert's Rules of Order: The Original Manual for Assembly Rules, Business Etiquette, and Conduct Rating: 4 out of 5 stars4/5How to Grow Your Small Business: A 6-Step Plan to Help Your Business Take Off Rating: 4 out of 5 stars4/5Your Next Five Moves: Master the Art of Business Strategy Rating: 5 out of 5 stars5/5The Millionaire Fastlane: Crack the Code to Wealth and Live Rich for a Lifetime Rating: 5 out of 5 stars5/5Capital Gaines: Smart Things I Learned Doing Stupid Stuff Rating: 3 out of 5 stars3/5The E-Myth Revisited: Why Most Small Businesses Don't Work and What to Do About It Rating: 4 out of 5 stars4/5The LLC and Corporation Start-Up Guide: Your Complete Guide to Launching the Right Business Rating: 5 out of 5 stars5/5The Side Hustle: How to Turn Your Spare Time into $1000 a Month or More Rating: 4 out of 5 stars4/5Yes!: 50 Scientifically Proven Ways to Be Persuasive Rating: 4 out of 5 stars4/5Small Business For Dummies Rating: 4 out of 5 stars4/5Built to Last: Successful Habits of Visionary Companies Rating: 4 out of 5 stars4/5How to Think Bigger: Aim Higher, Get More Motivated, and Accomplish Big Things Rating: 4 out of 5 stars4/5Wealthology: The Science of Smashing Money Blocks Rating: 3 out of 5 stars3/5Dream Big: Know What You Want, Why You Want It, and What You’re Going to Do About It Rating: 4 out of 5 stars4/5Real Artists Don't Starve: Timeless Strategies for Thriving in the New Creative Age Rating: 4 out of 5 stars4/5Never Get a "Real" Job: How to Dump Your Boss, Build a Business and Not Go Broke Rating: 4 out of 5 stars4/5Creative, Inc.: The Ultimate Guide to Running a Successful Freelance Business Rating: 4 out of 5 stars4/5The Whole Body Entrepreneur: A Physical and Emotional Self-Care Bootcamp Rating: 5 out of 5 stars5/5What Your CPA Isn't Telling You: Life-Changing Tax Strategies Rating: 4 out of 5 stars4/5Feck Perfuction: Dangerous Ideas on the Business of Life Rating: 5 out of 5 stars5/5The Bitcoin Standard: The Decentralized Alternative to Central Banking Rating: 4 out of 5 stars4/5
Reviews for Value of Failure
0 ratings0 reviews