IDEAS home Printed from https://ideas.repec.org/a/eee/tefoso/v186y2023ipbs0040162522006916.html
   My bibliography  Save this article

The key success factors of the AI industry entrepreneurial process in China Great Bay Area: A systematic approach study

Author

Listed:
  • Wang, Rui
  • Guo, Li-ming
  • Cao, Chao
  • Chen, Yan-sheng

Abstract

In the traditional entrepreneurial process theory, opportunities, resources and entrepreneurs (teams) are regarded as the basic elements of the entrepreneurial process. In the era of artificial intelligence under the new economic normal, the diffusion of technological innovation not only catalyzes the internal components and external environment of entrepreneurship, but more importantly reconstructs a new combination of the key success factors (KSFs) for entrepreneurship. Technological innovation-driven entrepreneurship, as a new form of entrepreneurship, poses new challenges to the traditional entrepreneurial process theory. Using the Co-citation Context Analysis (CCA) method, we innovated the operational definition of the KSFs of entrepreneurship, and horizontally displayed 4 stages of the entrepreneurial process, including 66 key success factors in 17 dimensions. We used the explanatory structural modeling method and Matrice d'Impacts Croises-Multipication Applique A Classement (MICMAC) to analyze and identify the driving force and dependence force of KSFs, and longitudinally present the multi-level structural process relationship of the systematic entrepreneurial process. Our research focuses on three aspects: (1) To find out the KSFs of innovation-driven entrepreneurial processes. (2) To explore the relationship between internal drivers and new combinations of external dynamic environmental factors in the process of systematic entrepreneurship. (3) To demonstrate the common characteristics of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) entrepreneurs' teamwork, innovation drive and competitiveness. The results show that entrepreneurial performance, entrepreneurial environment, and entrepreneurial group characteristics are still the basic elements of the entrepreneurial process, but in the era of artificial intelligence under the new economic normal, the KSFs of the systematic entrepreneurial process are changing dynamically, interactively and iteratively. The two-way influence and criss-cross evolution of the driving force and dependence of the KSFs in the entrepreneurial process promote the occurrence of innovation-driven entrepreneurship, which is a topic that initial entrepreneurs and entrepreneurs must pay attention to.

Suggested Citation

  • Wang, Rui & Guo, Li-ming & Cao, Chao & Chen, Yan-sheng, 2023. "The key success factors of the AI industry entrepreneurial process in China Great Bay Area: A systematic approach study," Technological Forecasting and Social Change, Elsevier, vol. 186(PB).
    • Handle: RePEc:eee:tefoso:v:186:y:2023:i:pb:s0040162522006916
    DOI: 10.1016/j.techfore.2022.122170
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0040162522006916
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.techfore.2022.122170?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. R. Kant & M. D. Singh, 2008. "Knowledge Management Implementation: Modeling the Barriers," Journal of Information & Knowledge Management (JIKM), World Scientific Publishing Co. Pte. Ltd., vol. 7(04), pages 291-305.
    2. Li, Ling, 2018. "China's manufacturing locus in 2025: With a comparison of “Made-in-China 2025” and “Industry 4.0”," Technological Forecasting and Social Change, Elsevier, vol. 135(C), pages 66-74.
    3. Jean S. Clarke & Robin Holt, 2010. "The Mature Entrepreneur : A Narrative Approach to Entrepreneurial Goals," Post-Print hal-02312344, HAL.
    4. Santos, Gina & Marques, Carla Susana & Ferreira, João J.M., 2020. "Passion and perseverance as two new dimensions of an Individual Entrepreneurial Orientation scale," Journal of Business Research, Elsevier, vol. 112(C), pages 190-199.
    5. Allen Scott, 2006. "Entrepreneurship, Innovation and Industrial Development: Geography and the Creative Field Revisited," Small Business Economics, Springer, vol. 26(1), pages 1-24, February.
    6. Gary C. Moore & Izak Benbasat, 1991. "Development of an Instrument to Measure the Perceptions of Adopting an Information Technology Innovation," Information Systems Research, INFORMS, vol. 2(3), pages 192-222, September.
    7. Henry Chesbrough & Richard S. Rosenbloom, 2002. "The role of the business model in capturing value from innovation: evidence from Xerox Corporation's technology spin-off companies," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 11(3), pages 529-555, June.
    8. William D. Bygrave & Charles W. Hofer, 1992. "Theorizing about Entrepreneurship," Entrepreneurship Theory and Practice, , vol. 16(2), pages 13-22, January.
    9. Reynolds, Paul & Miller, Brenda, 1992. "New firm gestation: Conception, birth, and implications for research," Journal of Business Venturing, Elsevier, vol. 7(5), pages 405-417, September.
    10. Alexander Ardichvili & Richard N. Cardozo, 2000. "A Model Of The Entrepreneurial Opportunity Recognition Process," Journal of Enterprising Culture (JEC), World Scientific Publishing Co. Pte. Ltd., vol. 8(02), pages 103-119.
    11. Rajshree Agarwal & Barry L. Bayus, 2002. "The Market Evolution and Sales Takeoff of Product Innovations," Management Science, INFORMS, vol. 48(8), pages 1024-1041, August.
    12. Andreas Rauch & Johan Wiklund & G.T. Lumpkin & Michael Frese, 2009. "Entrepreneurial Orientation and Business Performance: An Assessment of past Research and Suggestions for the Future," Entrepreneurship Theory and Practice, , vol. 33(3), pages 761-787, May.
    13. Antoncic, Bostjan & Hisrich, Robert D., 2001. "Intrapreneurship: Construct refinement and cross-cultural validation," Journal of Business Venturing, Elsevier, vol. 16(5), pages 495-527, September.
    14. F. Xavier Molina-Morales & Manuel Expósito-Langa, 2012. "The impact of cluster connectedness on firm innovation: R&D effort and outcomes in the textile industry," Entrepreneurship & Regional Development, Taylor & Francis Journals, vol. 24(7-8), pages 685-704, September.
    15. Maryann Feldman & Johanna Francis & Janet Bercovitz, 2005. "Creating a Cluster While Building a Firm: Entrepreneurs and the Formation of Industrial Clusters," Regional Studies, Taylor & Francis Journals, vol. 39(1), pages 129-141.
    16. John McMillan & Christopher Woodruff, 2002. "The Central Role of Entrepreneurs in Transition Economies," Journal of Economic Perspectives, American Economic Association, vol. 16(3), pages 153-170, Summer.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Pramanik, Paritosh & Jana, Rabin K. & Ghosh, Indranil, 2024. "AI readiness enablers in developed and developing economies: Findings from the XGBoost regression and explainable AI framework," Technological Forecasting and Social Change, Elsevier, vol. 205(C).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Agarwal, Rajshree & Shah, Sonali K., 2014. "Knowledge sources of entrepreneurship: Firm formation by academic, user and employee innovators," Research Policy, Elsevier, vol. 43(7), pages 1109-1133.
    2. Shirokova, Galina V. & Sokolova, Liubov S., 2013. "Exploring the Antecedents of Entrepreneurial Orientation in Russian SMEs: The Role of Institutional Environment," Working Papers 819, Graduate School of Management, St. Petersburg State University.
    3. Michael Stuetzer & David B. Audretsch & Martin Obschonka & Samuel D. Gosling & Peter J. Rentfrow & Jeff Potter, 2018. "Entrepreneurship culture, knowledge spillovers and the growth of regions," Regional Studies, Taylor & Francis Journals, vol. 52(5), pages 608-618, May.
    4. Martín-Rojas, Rodrigo & Garrido-Moreno, Aurora & García-Morales, Víctor J., 2023. "Social media use, corporate entrepreneurship and organizational resilience: A recipe for SMEs success in a post-Covid scenario," Technological Forecasting and Social Change, Elsevier, vol. 190(C).
    5. UMRANI Waheed Ali & MAHMOOD Rosli & AHMED Umair, 2016. "Unveiling The Direct Effect Of Corporate Entrepreneurship’S Dimensions On The Business Performance: A Case Of Big Five Banks In Pakistan," Studies in Business and Economics, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 11(1), pages 181-195, April.
    6. Per Davidsson & Jan Henrik Gruenhagen, 2021. "Fulfilling the Process Promise: A Review and Agenda for New Venture Creation Process Research," Entrepreneurship Theory and Practice, , vol. 45(5), pages 1083-1118, September.
    7. Woodfield, Paul J. & Ooi, Yat Ming & Husted, Kenneth, 2023. "Commercialisation patterns of scientific knowledge in traditional low- and medium-tech industries," Technological Forecasting and Social Change, Elsevier, vol. 189(C).
    8. Krzysztof Wach & Agnieszka Głodowska & Marek Maciejewski, 2018. "Entrepreneurial Orientation, Knowledge Utilization and Internationalization of Firms," Sustainability, MDPI, vol. 10(12), pages 1-23, December.
    9. Jan Lampe & Priscilla Sarai Kraft & Andreas Bausch, 2020. "Mapping the Field of Research on Entrepreneurial Organizations (1937–2016): A Bibliometric Analysis and Research Agenda," Entrepreneurship Theory and Practice, , vol. 44(4), pages 784-816, July.
    10. Parker Jennifer & Corner Patricia Doyle & Woodfield Paul J. & Singh Smita, 2021. "Developing Endogenous Innovations: Corporate Entrepreneurship and Effectuation," Entrepreneurship Research Journal, De Gruyter, vol. 11(1), pages 1-20, January.
    11. Rodríguez-Piñeros, Sandra & Sabogal-Salamanca, Mauricio & Ibarvo-Urista, Virginia & Aguilar-Palma, Nelson & Sánchez-Basualdo, Rosalia & Villarraga-Flórez, Liz F., 2023. "Building a scale to measure individual social entrepreneurship orientation (ISEO) of forest students in Latin America," Forest Policy and Economics, Elsevier, vol. 154(C).
    12. Veronica Scuotto & Manlio Del Giudice & Alexeis Garcia-Perez & Beatrice Orlando & Francesco Ciampi, 2020. "A spill over effect of entrepreneurial orientation on technological innovativeness: an outlook of universities and research based spin offs," The Journal of Technology Transfer, Springer, vol. 45(6), pages 1634-1654, December.
    13. Lennart Burger & Ivana Blažková, 2020. "Internal Determinants Promoting Corporate Entrepreneurship in Established Organizations: A Systematic Literature Review," Central European Business Review, Prague University of Economics and Business, vol. 2020(2), pages 19-45.
    14. Muhammad Shahid & Shafaq Chaudhry & Muhammad Bilal & Hina Amber & Shoaib Aslam & Shumaila Malik & Khuram Shahzad, 2022. "The Link Between Team Identification, Entrepreneurial Orientation, and Innovative Work Behavior and Its Dimensions in the Context of Pakistan," SAGE Open, , vol. 12(1), pages 21582440221, March.
    15. Martín-Rojas, Rodrigo & Garrido-Moreno, Aurora & García-Morales, Víctor J., 2020. "Fostering Corporate Entrepreneurship with the use of social media tools," Journal of Business Research, Elsevier, vol. 112(C), pages 396-412.
    16. Rafał Kusa & Marcin Suder & Belem Barbosa & Beata Glinka & Joanna Duda, 2022. "Entrepreneurial behaviors that shape performance in small family and non-family hotels during times of crisis," International Entrepreneurship and Management Journal, Springer, vol. 18(4), pages 1545-1575, December.
    17. Antonio Rodríguez-Peña, 2021. "Assessing the impact of corporate entrepreneurship in the financial performance of subsidiaries of Colombian business groups: under environmental dynamism moderation," Journal of Innovation and Entrepreneurship, Springer, vol. 10(1), pages 1-27, December.
    18. Ferreras-Méndez, José Luis & Olmos-Peñuela, Julia & Salas-Vallina, Andrés & Alegre, Joaquín, 2021. "Entrepreneurial orientation and new product development performance in SMEs: The mediating role of business model innovation," Technovation, Elsevier, vol. 108(C).
    19. Antonius Broek & Mikko Koria & Emilia Saarelainen, 2023. "I want to break free: how a design approach guides nascent intrapreneurs in a global public service organisation," Journal of Innovation and Entrepreneurship, Springer, vol. 12(1), pages 1-17, December.
    20. Ivana Komarkova & Dimitri Gagliardi & Johannes Conrads & Antonio Collado, 2015. "Entrepreneurship Competence: An Overview of Existing Concepts, Policies and Initiatives – Final report," JRC Research Reports JRC96531, Joint Research Centre.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:tefoso:v:186:y:2023:i:pb:s0040162522006916. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.sciencedirect.com/science/journal/00401625 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.