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
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
MartÃnez-MartÃnez, 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. Ð., Dorohina, Ðœ.V., Laskovaja, Ð.К., Shmeleva, E.V., Lisicina, Ð.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. BaltiÑ 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