Emerging Trends in Business

Halim Kazan / Mehmet Baykal (eds.)

Emerging Trends in Business

An Interdisciplinary Approach

About the editors

The Editors

Halim Kazan is full professor in the area of production management and quantitative analysis. His academic research interest is in quantitative analysis focusing on production management.

Mehmet Baykal studied in the Department of Business at the Faculty of Economics and Administrative Sciences of Ankara Gazi University. He holds a Ph.D. in business and has business and consulting experience. His research interests include technologyintegrated marketing, e-business development and online marketing.

About the book

Emerging Trends in Business

This book presents a collection of interdisciplinary chapters covering the most informative issues in various fields of both theoretical and applied business. The contributors focus on up-to-date developments in business areas such as innovation, entrepreneurship, banking and digital marketing.←4 | 5→

Innovative Entrepreneurship

Elcin Sismanoglu

Corporate Social Responsibility Reporting

Burcay Yasar Akcalı

Non-Performing Loans in Banking and Ratios Used in Their Calculations

Sema Yolac

Innovation and Entrepreneurship

H. Anıl Değermen Erenkol

Cause-Related Marketing

Elife Akis

Entrepreneurship, Economic Growth, and Development

Aral G. Noyan

Mobbing: The Dark Side of Business

Mehmet Baykal

Digital Marketing

Bora Yıldız

Gratitude as an Emerging Emotion in the Organizational Behavior Area

About the Editors and Contributors ←5 | 6→←6 | 7→

1Introduction

In today’s business world, entrepreneurship is one of the emerging research areas. It is also one of the most important drivers of the changing social and economic life. The power of entrepreneurs to accelerate the spread of wealth to all segments of the society is the capacity to innovate.

The concept of entrepreneur became even more important with the dynamic entrepreneur concept of Joseph A. Schumpeter and entrepreneurship was generally shaped around the concept of innovation. Economies have become more productive, innovative and competitive, thanks to the dynamic entrepreneurs who ensure the transition to information society.

Nowadays, the conditions of competition faced by businesses both in the domestic and international markets get fierce and rapid changes are experienced. In this way, innovative entrepreneurship has been addressed in this study due to the increasing importance of synergy between entrepreneurship and innovation.

2The concepts of entrepreneurship and innovation

The word “entrepreneurship” has been derived from the French word “entreprendre”, which means to undertake. The entrepreneur is a person who undertakes to organize, manage and assume the risks of a business. In recent years, entrepreneurs have done many things that require extending this definition. Today, an entrepreneur is an innovator and developer realizing and catching opportunities; changing these opportunities into practical/marketable ideas; adding value through time, effort, money or skills; undertaking the risk of competitive market in order to put these ideas in practice and realizing the rewards obtained from these efforts (Kuratko, 2017: 4).

First of all, entrepreneurship – being a mentality – refers to the motivation and capacity of a person to engage in relevant opportunities, independently or within an organization, with the purpose of identifying an opportunity and creating new value or achieving economic success. Entrepreneurship is concerned with individuals and their preference to set up, take over or operate a business or to participate in strategic decision-making mechanisms of a firm and the relevant activities. Entrepreneurs who take advantage of creativity or ←7 | 8→innovation in order to enter and compete in the market, change this market and create a new market are a heterogeneous group and come from all social strata (CEC, 2003: 5,6).

An entrepreneur is a vision holder who transforms even the most insignificant situations into very important opportunities (Gerber, 2008: 24). Successful entrepreneurs seem to be thinking differently from other people in many ways. For instance, they aren’t inclined to counterfactual thinking much; however, they are observed to be over-reliant on their judgments. Similarly, it is seen that the social skills of successful entrepreneurs are high. In other words, they can communicate effectively with other people. Their social perception is strong and they can easily adapt to new social conditions (Baron, 2000: 15). Therefore, success in this field is closely related to people’s having an enterprising spirit.

Generally accepted characteristics of an entrepreneurial personality are vision, high energy level, need to achieve, self-confidence and optimism, tolerance for failure, creativity, tolerance for ambiguity and internal locus of control (Boone and Kurtz, 2011: 194).

Entrepreneurship does not only represent a certain human skill, that is, a form of human capital, it also acts as a source of harmonization from imbalance to balance. It is located in the center of economic dynamics and therefore growth. However, the economic imbalance doesn’t originate solely from external shocks; it may also manifest itself internally as a result of the entrepreneurial activities of the units in the economy. Entrepreneurship has the function of researching the new and accordingly shaking the established balance and reacting to the imbalance when it arises (Piazza-Georgi, 2002: 463,465).