Research conducted by the entrepreneurship team is focused on having real-world impact on people’s lives. We partner with top tier organisations, both for profit and not-for-profit that share this vision.
- Measuring and Building Business Acumen
- Poverty Alleviation and Global Warming
- Internationalisation of Entrepreneurial Firms
‘Business acumen’, perceived as the skills and knowledge underpinning business capabilities, presents an undeniably essential possession for managers. Business acumen (BA) is seen to play a vital role in both managerial and organisational success and is frequently claimed as a key competency for effective and successful leaders. Translating research and development (R&D) innovations into commercial outcomes through improved BA is a leading priority of most advanced and emerging nations.
The purpose of this study is to define, measure and test Business Acumen, establishing a theoretical context to investigate how business acumen can be assessed and improved in realising more optimal innovation and performance outcomes in globally significant key growth sectors. The research is funded through partners Quad Assessment and Murdoch Childrens Research Institute. The Chief Investigator is the Director of Entrepreneurship, Prof David Gilbert and the research team is led by Associate Professor Afreen Huq.
Research shows that asking people to improve their lives results in individuals taking one set of actions while asking people to prevent a disaster will produce another set of actions – i.e., individuals think of loss and gain fundamentally differently. However, as we look at institutional intermediaries (institutional intermediaries bridge entities such as state with private‐sector entrepreneurs or individuals) there is a predominant focus only on improvement. Thus, as we think of poverty, institutional intermediaries typically focus on how individuals take actions to improve their lives such as improving daily income from $2 a day to $3 a day. The negative impact is not typically addressed.
However, global warming offers a chance to study how institutional intermediaries address negative impacts as it is a slow train wreck. We expect that the tactics that the institutional intermediaries will have to employ in the negative setting of global warming will be substantially different than in positive/improvement efforts.
Global warming can represent both an opportunity/gain or a challenge/loss for institutional intermediaries – double edge swords always exist. We are not expecting to find many intermediaries that focus on global warming opportunity/gain. But instead, this research focuses on global warming as a negative and identifies the tactics that are different. We will contrast these groups dealing with the negative of global warming to what we know about the positive opportunity/gain tactics from the prior literature.
This project is a collaborative piece between Monash University and Garry Bruton, Professor of Management at Neely School of Business, TCU.
Over the next 10 years it is predicted that more than 50% of the S&P 500 will be replaced by entrepreneurial firms that are broadly seen as more agile and nimble than incumbents in the market. This research project looks at the various factors in play that influence how entrepreneurial ventures internationalise and the impacts this has on the founder and team. The core team of researchers is comprised of experienced and highly ranked international scholars including Prof Garry Bruton from TCU and Prof Igor Filatotchev from Kings College, London. The team is led in Australia by Prof David Gilbert and the current focus is on developing a sophisticated modelling schemata to be deployed across different domains in examining entrepreneurial firms and their approaches to internationalisation.