ESC

Clarivate

JCR Category: Business in ESCI edition

Entrepreneurship and Sustainability Issues Open access
Journal Impact FactorTM (2023) 1.2 Q4
Journal Citation IndicatorTM (2023) 0.33 Q3
Received: 2022-08-22  |  Accepted: 2022-11-10  |  Published: 2022-12-30

Title

Entrepreneurial talent: The Baltics in the mirror of international studies


Abstract

The aim of this article is to confirm empirically the role of education in shaping and enhancing the role of entrepreneurial talent in the economic development of the Baltic countries. The following tasks were consistently solved: clarifying the relevance of the topic of entrepreneurial talent and reflecting this multifaceted phenomenon in the socio-economic works of contemporary authors, studying the experience of teams of international research projects, where the main or great attention is paid to entrepreneurial talent, then, in a comparative perspective, assessing the role of entrepreneurial talent in the Baltic countries, the most important factors that act both as the most significant positive conditions of its impact on the economic growth of individual countries, and inhibit positive dynamics. The empirical basis for the research was composed of the international research projects, Global Entrepreneurship Monitor (GEM), Global Talent Competitiveness Index (GTGI), the report of the World Economic Forum as well as the authors’ own research into student entrepreneurial potential and entrepreneurial universities. Causal analysis and comparative analysis were used as the main research methods. In the course of the research work, the terminology used is clarified in relation to the main subject of the research - entrepreneurial talent as the most important factor in the economic development of countries and regions. The ranking of factors positively influencing the effectiveness of entrepreneurial talent, especially from the standpoint of opportunities in the field of education, has been carried out. The article includes three sections. The first section is devoted Entrepreneurial Talent as an important element of economic activity, second section - Entrepreneurship and entrepreneurial talent as a subject of international research and the third section - Entrepreneurship in the Baltic States in the evaluation of international studies. The research shows both the importance of entrepreneurial talent among other drivers of economic growth and the quality of entrepreneurial education in general education schools and universities. Therefore it is extremely important to expand the practice of entrepreneurial education for students of all specialties, gradually turning educational and research higher education institutions into entrepreneurial universities.


Keywords

talent, entrepreneurial talent, entrepreneurial education, talent competitiveness, economic growth, Baltics


JEL classifications

L26 , J24 , M13 , I21


URI

http://jssidoi.org/jesi/article/1025


DOI


Pages

274-293


Funding


This is an open access issue and all published articles are licensed under a
Creative Commons Attribution 4.0 International License

Authors

Menshikov, Vladimir
Daugavpils University, Daugavpils, Latvia https://du.lv
Articles by this author in: CrossRef |  Google Scholar

Ruža, Oksana
Daugavpils University, Daugavpils, Latvia https://du.lv
Articles by this author in: CrossRef |  Google Scholar

Arbidane, Iluta
Rezekne Academy of Technologies, Rēzekne, Latvia http://www.rta.lv
Articles by this author in: CrossRef |  Google Scholar

Mietule, Iveta
Rezekne Academy of Technologies, Rēzekne, Latvia http://www.rta.lv
Articles by this author in: CrossRef |  Google Scholar

Journal title

Entrepreneurship and Sustainability Issues

Volume

10


Number

2


Issue date

December 2022


Issue DOI


ISSN

ISSN 2345-0282 (online)


Publisher

VšĮ Entrepreneurship and Sustainability Center, Vilnius, Lithuania

Cited

Google Scholar

Article views & downloads

HTML views: 1379  |  PDF downloads: 560

References


An, H.J., & Xu, Y.Y. 2021. Cultivation of Entrepreneurial Talents Through Virtual Entrepreneurship Practice in Higher Education Institutions. Frontiers in Psychology, 12, Article Number 690692 http://doi.org/10.3389/fpsyg.2021.690692

Search via ReFindit


Baumol, W.J. 1990. Entrepreneurship: Productive, unproductive, and destructive. The Journal of Political Economy, 98(5), 893-921. https://doi.org/10.1086/261712

Search via ReFindit


Baumol, W.J. 2010. The Microtheory of Innovative Entrepreneurship. Princeton University Press, New Jersey, p.127-130. https://doi.org/10.1515/9781400835225

Search via ReFindit


Bianchi, M. (2010). Credit Constraints, Entrepreneurial Talent, and Economic Development. Small Business Economics, (34), 93-104. https://doi.org/10.1007/s11187-009-9197-3

Search via ReFindit


Brandstatter, H. 2010. Personality aspects of entrepreneurship: A look at five meta-analyses. Personality and Individual Differences, 51(3), 222-230. https://doi.org/10.1016/j.paid.2010.07.007

Search via ReFindit


Chaganti, R., & Schneer, J. 1994. A study of impact of owner's mode of entry on venture performance and management patterns. Journal of Business Venturing, 9, 243-260 90032-9 https://doi.org/10.1016/0883-9026(94)

Search via ReFindit


Chakravarthy, B., & Yau, D. 2022. Global Contenders from China: What are Their Challenges? Huawei, Lenovo, Haier, Mayun, Alibaba and Tencent Have Made It to The World Stage. Will They Stay There? By IMD, from https://www.imd.org/contentass/d5cba863575b44308a79dceca8fc61e3/tc027-16---leading-chinese-companies-pdf.pdf

Search via ReFindit


Cornell University, INSEAD & WIPO. 2018. The Global Innovation Index 2018: Energizing the world with innovation. Ithaca, Fontainebleau, and Geneva: Cornell University, INSEAD, & WIPO, from https://www.wipo.int/edocs/pubdocs/en/wipo_pub_gii_2018.pdf

Search via ReFindit


Countries with the Best Educational Systems - 2021 Best Countries Report. 2021. https://worldpopulationreview.com/country-rankings/education-rankings-by-country

Search via ReFindit


Dutta, S., Lanvin, B., Rivera, L. & Wunsch-Vincent, S. 2022. Global Innovation Index 2022, from https://www.globalinnovationindex.org/

Search via ReFindit


European Commission. 2014. Innovation Union Scoreboard 2013: Summary Innovation Index 2012. https://www.eustat.eus/elementos/ele0010300/innovation-union-scoreboard-2013/inf0010348_c.pdf

Search via ReFindit


Eurostat. 2020. Total public expenditure on education as % of GDP, at tertiary level of education (ISCED 5-6). Table: Expenditure on education as % of GDP or public expenditure. https://ec.europa.eu/eurostat/databrowser/view/gov_10a_exp/default/table?lang=en

Search via ReFindit


Ferrante, F. 2005. Revealing Entrepreneurial Talent. Small Business Economics 25(2):159-174. https://doi.org/10.1007/s11187-003-6448-6

Search via ReFindit


Frese, M. 2009. Towards a psychology of entrepreneurship: An action theory perspective. Foundations and Trends in Entrepreneurship, 5, 437–496 http://dx.doi.org/10.1561/0300000028

Search via ReFindit


GEM (Global Entrepreneurship Monitor) 2022. Global Entrepreneurship Monitor 2020/2021 Global Report: Opportunity Amid Disruption. London: GEM. https://www.gemconsortium.org/file/open?fileId=50691

Search via ReFindit


GEM (Global Entrepreneurship Monitor) 2022. Global Entrepreneurship Monitor 2021/2022 Global Report: Opportunity Amid Disruption. London: GEM. https://gemconsortium.org/file/open?fileId=50900

Search via ReFindit


Global Partnership of Education. 2020. Povisenije kacestva I obespecenije ravnodostupnosti obucenija cerez ukreplenije system obrazovanija. [Improving the quality and equity of learning through strengthening education systems], https://assets.globalpartnership.org/s3fs-public/other_document/file/gpe2020-at-a-glance-russian-web.pdf?VersionId=.x_I7EZYZvZtCTTU8BjyyAYnEONEmsbW

Search via ReFindit


Gold, J. 2017. The Future of HRD: Scenarios of Possibility. International Journal of HRD Practice Policy and Research, 2(2). 57-68. http://doi.org/10.22324/ijhrdppr.2.117

Search via ReFindit


Govorova, N. 2018. Visokokvalificirivannij trud – fundament globalnoj konkurentosposobnosti. [Higly skilled Labor is the foundation of Global Competitiveness]. Scientific and Analytical Bulletin, 2018, №1, from http://vestnikieran.instituteofeurope.ru/images/%D0%B3%D0%BE%D0%B2%D0%BE%D1%80%D0%BE%D0%B2%D0%B0.pdf

Search via ReFindit


Gubbins, C., Harney, B., Werff, L. & Rousseau, D. 2018. Enhancing the trustworthiness and credibility of HRD: Evidence-based management to the rescue? Human Resource Development Quarterly, 29(3), 193-202. https://doi.org/10.1002/hrdq.21313

Search via ReFindit


Hessels, J. 2017. The Intersection of the Fields of Entrepreneurship and Development Economics: A Review towards a New View. Discussion Paper Series. IZA DP No. 11103. https://doi.org/10.2139/ssrn.3069446

Search via ReFindit


Holden, R. 2019. Editorial. International Journal of HRD Practice, Policy and Research, 4(1), 5-6. https://doi.org/10.22324/ijhrdppr.4.109

Search via ReFindit


Jiao, S., & Liang, F. 2022. Sustainable Development of High School English Learners in China: Motivation and Its Impact on Their English Achievement. Sustainability, 14(19), Article Number 12619 http://doi.org/10.3390/su141912619

Search via ReFindit


Kafetzopoulos, D. & K. Gotzamani. 2022. The effect of talent management and leadership styles on firms' sustainable performance. European Business Review, 34(6), 837-857. http://doi.org/10.1108/EBR-07-2021-0148

Search via ReFindit


Kerr, S.A., Kerr, W.A. & Xu, T. 2018. Personality Traits of Entrepreneurs: A Review of Recent Literature. Foundations and Trends® in Entrepreneurship, 14(3), 279-356, http://dx.doi.org/10.1561/0300000080

Search via ReFindit


Lackéus, M. 2020. Comparing the impact of three different experiential approaches to entrepreneurship in education. Int. J. Entrepreneur. Behav. Res., 26, 937-971. https://doi.org/10.1108/IJEBR-04-2018-0236

Search via ReFindit


Lerner, M., Brush, C. & Hisrich, R. 1997. Israeli women entrepreneurs: Anexamination of factors affecting performance. Journal of Business Venturing, 12, 315-339. 00061-4 https://doi.org/10.1016/S0883-9026(96)

Search via ReFindit


Mackay, M. 2017. Evidence of Professional Learning: a Closer Look at Development in Practice. International Journal of HRD Practice, Policy and Research, 2(2), 7-19. https://doi.org/10.22324/ijhrdppr.2.112

Search via ReFindit


Martínez-Martínez, S.L. & Ventura, R. 2020. Entrepreneurial profiles at the University: a competence approach. Frontiers in Psychology, 11, 612796. https://doi.org/10.3389/fpsyg.2020.612796

Search via ReFindit


Mayer-Haug, K., Read, S., Brinckmann, J., Dew, N. & Grichnik, D. 2013. Entrepreneurial talent and venture performance: A meta-analytic investigation of SMEs. Research Policy, 42(6-7), 1251-1273. https://doi.org/10.1016/j.respol.2013.03.001

Search via ReFindit


Menshikov, V. & Ruza, O. 2021. Entrepreneurial potential of students. University Economic Bulletin, (49), 70-80. https://doi.org/10.31470/2306-546X-2021-49-70-80

Search via ReFindit


Mudjijah, S., Surachman, S., Wijayanti, R. & Andarwati, A. 2022. The Effect of Entrepreneurial Orientation and Talent Management on Business Performance of the Creative Industries in Indonesia. Journal of Asian Finance Economics and Business, 9(1), 105-119. http://doi.org/10.13106/jafeb.2022.vol9.no1.0105

Search via ReFindit


Nabi, G., Linan, F., Fayolle, A., Krueger, N. & Walmsley. 2017. The impact of entrepreneurship education in higher education: a systematic review and research agenda. Academy of Management Learning & Education, 16, 277-299. https://doi.org/10.5465/amle.2015.0026

Search via ReFindit


Nyström, K. 2008. Is entrepreneurship the salvation for enhanced economic growth? CESIS Electronic Working Paper Series, paper no. 143.

Search via ReFindit


Selivanova-Fedorova, N., Leikuma-Rimicane, L., Ignatyevs, S. & Heimanis, B.. 2021. Is talent the engine of countries’ economic development in the modern world? Social Sciences Bulletin, 33(2), 116-150. https://doi.org/10.9770/szv.2021.2(6)

Search via ReFindit


Stankevich, A., Ignatjeva, S & V. Meņshikovs. 2014. Higher Education’s Contribution into Economic Performance and Innovativeness of Latvia: Exploratory Research. Economic Annals, 59(202), 7-42.

Search via ReFindit


The Global Talent Competitiveness Index. 2019. The GTCI 2019 model https://www.insead.edu/sites/default/files/assets/dept/globalindices/docs/GTCI-2019-Report.pdf

Search via ReFindit


Vaillant, Y. 2022. Allocation of entrepreneurial and innovative talent: An economic model based on institutionally-driven relative rewards. Tec Empresarial, 16(3), 1-15. http://doi.org/10.18845/te.v16i3.6356

Search via ReFindit


Verhovskaja, O., Bogatireva, К. А., Dorohina, М.V., Laskovaja, А.К., Shmeleva, E.V., Lisicina, А.D. & Rilejeva, M.O.. 2022. Global Entrepreneurial Monitoring. Russian. https://gsom.spbu.ru/images/1/1/otchet_2022_final_1.pdf

Search via ReFindit


Voronov, V., & Ruza, O. 2018. Youth Unemployment in the Latgale Region of Latvia: Causes and Consequences. Baltiс Region, 10(4), 88-102. https://doi.org/10.5922/2079-8555-2018-4-6

Search via ReFindit


Voronov, V., Ruza, O., & Stasane, J. 2020. Multidimensional poverty in the Baltic States in the EU context: theoretical and practical aspects. Baltic Region, 12(3), 72-88. http://dx.doi.org/10.5922/2079-8555-2020-3-5

Search via ReFindit


Yang Q, Chen J, Yang L & Z. Liu Z. 2021. How to Develop Entrepreneurial Talent More Effectively? A Comparison of Different Entrepreneurship Educational Methods. Frontiers in Psychology, 12, 644113. https://doi.org/10.3389/fpsyg.2021.644113

Search via ReFindit


Zhang, W., Cooper, W., Deng, H., Parker, & Ruefli, B.T. 2010. Entrepreneurial talent and economic development in China. Socio-Economic Planning Sciences, 44, 178-192 https://doi.org/10.1016/j.seps.2010.04.003

Search via ReFindit


Zhang, Y.B., Qu, S.Y., Li, H.B. & Li, M.M. 2022. An empirical analysis of talent policy, executive incentive, and enterprise green technological innovation based on China's A-share listed companies. Frontiers in Environmental Science, 10, Article Number 952057 http://doi.org/10.3389/fenvs.2022.952057

Search via ReFindit


Zou, H., Chen, X. P. Ghauri. 2010. Antecedents and consequences of new venture growth strategy: an empirical study in China. Asia Pacific Journal of Management, 27, 393-421. https://doi.org/10.1007/s10490-009-9157-0

Search via ReFindit