Mokter Hossain

Despite its high importance and widespread occurrence, entrepreneurial exit remains an under-researched topic in entrepreneurship literature. The current body of knowledge on entrepreneurial exit is fragmented, with multiple definitions, phases, contextualization, and interpretations. This study synthesizes the entrepreneurial exit literature through a systematic review and content analysis of 103 articles, clarifying the conditions under which entrepreneurial exit is viewed positively or negatively. It proposes a novel multiphase phenomenological framework that integrates diverse perspectives, offering a clearer understanding of the current research and guiding future inquiries in this important topic.

Purpose: Resource mobilization and technology adoption by small firms are mainly studied separately, although considering them together is crucial for understanding how resources are accessed and mobilized to address uncertainty. Moreover, the authors know little about how small firms pursue new opportunities in a constantly changing environment. The purpose of this study is to investigate how small firms adopt technologies to engage different stakeholders and facilitate the access and mobilization of key resources in the opportunity co-creation process. Design/methodology/approach: This study applied a qualitative case study method and conducted 14 interviews with co-founders or top managers of five small firms in Iran. Findings: The findings reveal how small firms adopt technologies to access and mobilize social, human, psychological and financial resources in a highly uncertain environment to co-create new opportunities. Research limitations/implications: First, the study applies a cross-sectional approach. Therefore, it does not capture longitudinal aspects that might impact resource mobilization and technology adoption over time. Second, the selected five case firms represent rather successful firms, each of which adopted different technologies to challenge the established structure of the market. That is, this study did not focus on unsuccessful cases that would enrich the theory further. Originality/value: This study reveals how small firms adopt new technologies to mobilize resources and co-create opportunities in highly uncertain environments. It reveals that small firms employ technology adoption strategies to utilize operant resources and accelerate operand resource mobilization. Active learning plays a critical role in this process.

Constraints and institutional voids in emerging markets pose significant challenges to serving low-income customers. Indeed, the complex constraints often discourage traditional companies from pursuing such endeavors, but a new breed of enterprises characterized by their frugal approach is emerging from this constrained environment. Nevertheless, we know little about how these frugal enterprises transform constraints into opportunities through innovative business models that include collaboration with local and international partners, as well as how they can contribute to sustainable development. Drawing on institutional theory perspective and the resource-based view, this study explores how frugal enterprises create business models for serving overlooked customers in emerging markets and overcoming the various constraints and institutional voids. Based on six cases of frugal enterprise and 22 interviews, this qualitative study contributes to the literature in three ways: First, it reveals how frugal enterprises transform constraints and institutional voids into viable business models for serving traditionally underserved customers. Second, it sheds light on how these enterprises engage with local and international partners to overcome the constraints in emerging markets. Finally, it demonstrates that frugal enterprises contribute to sustainable development in a profitable manner. The findings offer valuable insights to guide managers and policymakers in attaining sustainability and profitability in the emerging markets.