The importance of lifestyle entrepreneurship: A conceptual study of the tourism industry

Mike Peters

Description

Resumen
El objetivo del trabajo es explorar y analizar el surgimiento de la iniciativa empresarial como estilo de vida. El artículo aborda la relación entre la calidad de vida del empresario y el crecimiento empresarial. El propósito es conceptualizar esta relación para aprender más sobre el espíritu empresarial como estilo de vida. El turismo aporta una serie de casos para ilustrar la investigación pertinente en el ámbito de la iniciativa empresarial como estilo de vida y un marco conceptual para examinar la relación entre las actividades empresariales y la calidad de vida percibida. El documento ofrece una revisión de la literatura sobre el espíritu empresarial y ciertas formas de iniciativa y conceptualiza el crecimiento de la iniciativa empresarial como estilo de vida.
Abstract
The purpose of the paper is to explore and discuss the emergence of lifestyle entrepreneurship. The article addresses the question of the relationship between entrepreneur’s life qual-ity and enterprise growth. The purpose is to conceptualize this relationship and to learn more about life-style entrepreneurship. Tourism serves as a case industry to illustrate both relevant research in the field of lifestyle entrepreneurship and a conceptual framework to examine the relationship between entrepreneurial activities and perceived life quality. The paper delivers a literature review on entrepre-neurship and certain forms of entrepreneurship and conceptualizes lifestyle enterprise’s growth.

Sujets

• Lifestyle
• Entrepreneurship
• Tourism
• Estilo de vida
• Empresa
• Turismo

Informations

• Publié par: erevistas
• Publié le: 01 janvier 2009
• Nombre de lectures: 27
• Langue: English

Extrait

Vol. 7 Nº2 págs. 393-405. 2009

www.pasosonline.org


The importance of lifestyle entrepreneurship: A conceptual study of
the tourism industry

iiMike Peters
University of Innsbruck (Austria)
iiiJoerg Frehse
University of Innsbruck (Austria)
ivDimitrios Buhalis
Bournemouth University (UK)


Abstract: The purpose of the paper is to explore and discuss the emergence of lifestyle
entrepreneurship. The article addresses the question of the relationship between entrepreneur’s life
quality and enterprise growth. The purpose is to conceptualize this relationship and to learn more about
lifestyle entrepreneurship. Tourism serves as a case industry to illustrate both relevant research in the field
of lifestyle entrepreneurship and a conceptual framework to examine the relationship between
entrepreneurial activities and perceived life quality. The paper delivers a literature review on
entrepreneurship and certain forms of entrepreneurship and conceptualizes lifestyle enterprise’s growth.

Keywords: Lifestyle; Entrepreneurship; Tourism; Entrepreneurial Motives.


Resumen: El objetivo del trabajo es explorar y analizar el surgimiento de la iniciativa empresarial como
estilo de vida. El artículo aborda la relación entre la calidad de vida del empresario y el crecimiento
empresarial. El propósito es conceptualizar esta relación para aprender más sobre el espíritu empresarial
como estilo de vida. El turismo aporta una serie de casos para ilustrar la investigación pertinente en el
ámbito de la iniciativa empresarial como estilo de vida y un marco conceptual para examinar la relación
entre las actividades empresariales y la calidad de vida percibida. El documento ofrece una revisión de la
literatura sobre el espíritu empresarial y ciertas formas de iniciativa y conceptualiza el crecimiento de la
iniciativa empresarial como estilo de vida.

Palabras clave: Estilo de vida; Empresa; Turismo, Motivos para emprender.


ii Associate Professor. Department of Strategic Management, Marketing and Tourism. University of Innsbruck.
Universitätsstrasse 15. A-6020 Innsbruck. Web: http://www.uibk.ac.at/smt/ Email: [e-mail].
http://www.uibk.ac.at/smt/
iii Department of Strategic Management, Marketing and Tourism, University of Innsbruck. Universitätsstrasse 15.
A6020 Innsbruck. Web: http://www.frehsehotels.com. Email: [e-mail]
iv International Centre for Tourism & Hospitality Research. Bournemouth University, Talbot Campus, Fern Barrow,
Poole, Dorset, BH12 5BB, UK. Tel: [phone]. Fax: [phone]. Web:
http://www.bournemouth.ac.uk/services-management/. Email: [e-mail]
© PASOS. Revista de Turismo y Patrimonio Cultural. ISSN 1695-7121 394 The importance of lifestyle entrepreneurship...

The importance of entrepreneurship the numerous definitions in the social sci-
ences literature. Even though academics
Globalization in the nineties signalled a have addressed a range of questions
conwhole range of new challenges for many cerning both with the nature of the
entrelifestyle entrepreneurs, owner-managers preneurial process and the attributes and
and all those who were unable to reorient personality traits of entrepreneurs,
rethemselves strategically towards the search is still short of a consensus on some
rapidly emerging market conditions. This is of the most important questions. The task
the situation in which still many entrepre- of finding a consensual interpretation is
neurs find themselves. Once again the rendered also somewhat difficult by the
growth-oriented Schumpeterian innovative great variety of methods and methodology
entrepreneur is called upon to restructure employed by different disciplines engaged
and realign the industry (Gray, 2002; in analysing entrepreneurs and
entrepreSchmitz, 1989; Peters and Weiermair, neurship (Kirby, 2002; Gartner, 1985;
2001). The tourism and hospitality indus- Timmons, 1994). In economics and
mantries are dominated by small business and agement literature the entrepreneur and
the vast majority of the entrepreneurs are his/her capabilities have remained a focal
lifestylers rather than rational profession- point of interest, but also of controversy.
als (Middleton, 2001). The majority of small Ever since Schumpeter (1934), economic
business owners hardly show typical entre- development has become associated with
preneurial attitudes, as described by entrepreneurship. The nature and function
Schumpeter (1934). This paper attempts to of this new factor of production however
explore the importance of these so-called becomes interpreted in different ways: for
lifestyle entrepreneurs in a conceptual way Cantillion (1755), Liefmann (1897), Knight
to shed more light on the understanding of (1921) and Oberparleiter (1930) risk
astheir motives as well as discuss policy im- sumption presents the core of
entrepreplications. neurship; for Schumpeter (1934) innovation
The paper is structured in four sections: and/or innovative capabilities characterises
it starts with a literature overview of life- the entrepreneur; while others emphasized
style entrepreneurship concepts which capabilities associated with capita (Burns
highlight main contributions of economic 2001). Cyert and March (1963) view
entreand social science theories (Alvarez and preneurs' capabilities to coordinate
differBusenitz, 2001; Leibenstein, 1968; Swed- ent interest groups as the core function of
berg, 2000). In a second step the paper entrepreneurship, while Kirzner (1973) and
analyses the determinants and conse- Mises (1940) emphasize information leads
quences of lifestyle orientation and derives and advantages as the key to an
underimplications and threats for regional com- standing of entrepreneurship. Leibenstein
petitiveness and/or economic growth. The (1966; 1968) believes entrepreneurs to
simthird section presents and discusses the ply behave differently (more efficiently) in
concepts of quality of life approach and the the use and transformation of factor inputs
profile of the lifestyle entrepreneur. Fi- and interprets entrepreneurship as a
procnally, research gaps are identified and new ess within organisations (Morris and Lewis,
initiatives for entrepreneurship research 1995; Mugler, 1998).
are presented in the concluding part of the The origins of theory development in the
paper. field of entrepreneurship demonstrate that
there have been only a handful of theorists
Forms of Entrepreneurship who have contributed with novel paradigms
to this field of economic and management
Entrepreneurs create an innovative or- research. Among them, the late Joseph A.
ganization or network of organizations for Schumpeter who introduced the discussion
the purpose of gain or growth, under condi- of the origins and importance of
entrepretions of risk and/or uncertainty (Dollinger, neurship to its intellectual height with the
2003). This includes the core elements of publication of the Theory of Economic
Deentrepreneurship, which can be found in velopment (first published 1912) linking
PASOS. Revista de Turismo y Patrimonio Cultural, 7(3). 2009 ISSN 1695-7121

Mike Peters ; Joerg Frehse and Dimitrios Buhalis 395

entrepreneurship to innovation. He defined nate entrepreneurship research. However,
the entrepreneur as an individual who car- as entrepreneurial behaviour is not only
ries out new combinations of firm organiza- driven by rational decision structures,
tion, new products or services, new sources other disciplines need to be engaged to
enor raw material, new methods of produc- hance explanations on the entrepreneurial
tion, new market segment, or new forms of process. Nevertheless, it is possible to
exorganization. Schumpeter (1934) saw in the tract typical entrepreneurial characteristics
entrepreneur an exceptional individual, or personality traits such as creativity,
capable of developing new product combi- risk-taking, innovativeness and
pronations, attributes or innovations. Hence, activeness which could be observed in
difthe entrepreneur has to come up with a ferent social, political or economic
envirealistically calculated risk for future mar- ronments (Timmons, 1994). Morrison
ket opportunities, based on past experi- (2006) throws more light upon the
concepences and the transformation of uncer- tualisation of various forms of
entrepretainty into profitable neurship. She formulated three main cues
outcome. of entrepreneurship, followed by the
extracTo this point Schumpeter wrote: ‘As tion of main entrepreneurial guises.
military action
Dicipline Researchers must be taken in
given strategic Economists Cantillion (1964 first published 1755); Casson
positions, even if (2005); Schumpeter (1934), Baumol (1989),
all the data po- Lazear (2005)
tentially procur- Ecology Aldrich (1990), Singh and Lumsden (1990)
able are not
Sociology Weber (1935) available, so also
in economic life, Anthropology Barth (2000); Greenfield and Strickton (1986)
action must be
Psychology McClelland (1961); Miner (1997) taken without
working ou