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GLOBAL ENTREPRENEURSHIP

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Kishinchand Poornima Wasdani Mathew J. Manimala

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GLOBAL ENTREPRENEURSHIP

Entrepreneurs around the world are encouraged and held up as the new deliverers
of economic growth in turbulent times. Entrepreneurship is taught globally, but
often without much reference to the truly global array of cases and examples that
can provide helpful insights for international students in particular.
This collection brings together expert entrepreneurship scholars to provide a
collection of global case studies around entrepreneurial firms worldwide. This unique
educational resource covers a broad range of topics of relevance to understand
entrepreneurship, including corporate, social and indigenous entrepreneurship.
This book provides entrepreneurship educators with reliable cases suitable for
classroom discussion, analysis or even for assessment purposes. Instructors teaching
this subject will be able to use the book as a stand-alone reference or as an ideal
supplement for many introductory texts in entrepreneurship.

James Hayton is Professor at Warwick Business School, UK. He is Editor-in-

Chief of the journal Human Resource Management, an Editor of Entrepreneurship Theory
and Practice and is a member of the editorial boards for many other journals. He is
the co-editor of another Routledge title, Global Human Resource Management
Casebook.

Carlo Salvato is Associate Professor of Business Strategy at Bocconi University,

Italy.

Mathew J. Manimala is Professor of Organizational Behaviour and Human

Resource Management at the Indian Institute of Management, Bangalore, India.
Leading scholars have highlighted attention to context as an important focus for
the ‘next act’ of entrepreneurship scholarship. In this volume, the editors have
collected a range of intriguing case studies from around the globe, showcasing
entrepreneurship in all its variety. Apart from the main focus on country settings,
the collection captures an array of industry, governance and firm development stage
contexts, and success as well as failure. The cases provide valuable illustrations that
put flesh to the bones of abstracted, theoretical notions. This makes it a significant
companion text for courses in entrepreneurship, and especially those focusing on
international issues.
Per Davidsson, Professor, Queensland
University of Technology, Australia

This volume represents a great initiative by the Ambassadors Program of the

Entrepreneurship Division of the Academy of Management. The contributions
provide a much needed insightful resource for both research and teaching that will
enhance our understanding of the variety of contexts in which entrepreneurship
occurs.
Mike Wright, Professor, University of Ghent, Belgium

With the ever growing worldwide interest in entrepreneurship, Hayton, Salvato

and Manimala have put together an outstanding collection of cases that capture
the diversity of settings, managerial and entrepreneurial issues, and organizational
practices around the globe. Well researched and documented, these cases provide
a rich basis to teach about (and learn from) different actions that entrepreneurs
undertake. I compliment the authors and editors on a great book that will make
the study of entrepreneurship fun and informative. I highly recommend this
wonderful book.
Shaker A. Zahra, Professor, University of Minnesota, USA

This book is filled with a remarkable set of cases from all over the world. Thought-
provoking and informative, this is an eminently readable text with case illustrations
across a broad spectrum of issues. This is a great primer for students, faculty and
entrepreneurs interested in international new ventures.
Harry J. Sapienza, Professor, Carlson School of Management,
University of Minnesota, USA

Entrepreneurial behaviors emerge and develop in a wide variety of situations and

contexts. This new book edited by James Hayton, Carlo Salvato and Mathew
Manimala is centered on this environmental and contextual dimension of entre-
preneurship. The book offers relevant and insightful case studies of entrepreneurial
firms operating in different regions of the world. It will certainly be a reference
for those interested in getting a better understanding of the interplay between
institutional, environmental and organizational factors, and its effects on the
development of entrepreneurial firms.
Alain Fayolle, Professor and Director of the Entrepreneurship
Research Centre, Emlyon Business School, France
GLOBAL
ENTREPRENEURSHIP
Case studies of entrepreneurial
firms operating around the world

Edited by
James Hayton, Carlo Salvato and
Mathew J. Manimala
First published 2015
by Routledge
2 Park Square, Milton Park, Abingdon, Oxon OX14 4RN
Simultaneously published in the USA and Canada
by Routledge
711 Third Avenue, New York, NY 10017
Routledge is an imprint of the Taylor & Francis Group, an informa business
© 2015 James Hayton, Carlo Salvato, Mathew J. Manimala
The right of the editors to be identified as the authors of the editorial
material, and of the authors for their individual chapters, has been asserted
in accordance with sections 77 and 78 of the Copyright, Designs and
Patents Act 1988.
All rights reserved. No part of this book may be reprinted or reproduced
or utilised in any form or by any electronic, mechanical, or other means,
now known or hereafter invented, including photocopying and recording,
or in any information storage or retrieval system, without permission in
writing from the publishers.
Trademark notice: Product or corporate names may be trademarks or
registered trademarks, and are used only for identification and explanation
without intent to infringe.
British Library Cataloguing in Publication Data
A catalogue record for this book is available from the British Library
Library of Congress Cataloging in Publication Data
Global entrepreneurship: case studies of entrepreneurial firms operating
around the world/edited by James Hayton, Carlo Salvato, Mathew J.
Manimala. – First Edition.
pages cm
1. International business enterprises – Management – Case studies.
2. Small business – Management – Case studies. I. Hayton, James C.,
editor of compilation. II. Salvato, Carlo, editor of compilation.
III. Manimala, Mathew J., 1950– editor of compilation.
HD62.4.G54334 2014
658.4′21 – dc23
2014016354

ISBN: 978-0-415-70323-9 (hbk)

ISBN: 978-0-415-70324-6 (pbk)
ISBN: 978-0-203-79478-4 (ebk)

Typeset in Bembo and Stone Sans

by Florence Production Ltd, Stoodleigh, Devon, UK
CONTENTS

List of figures vii

List of tables ix
Contributors x
Preface xix

1 Business incubation and the PipeWay business

case in Brazil 1
Neusa Maria Bastos F. Santos, Carlos Eduardo de Sousa,
Carlos Denner dos Santos Jr and Roberto Fernandes Santos

2 From family business to business family:

the strategic development of Zorbas –
Master Bakers – Cyprus 11
Panikkos Poutziouris and Elias Hadjielias

3 ALUCAST s.r.o. – Czech Republic 29

Martina Rašticová and Vladimír Bartošek

4 Noma – Denmark 45
Søren Henning Jensen

5 AML – Hong Kong 55

Kevin Au and Jeremy Cheng
vi Contents

6 Terumo-Penpol – India 71
Mathew J. Manimala, Kishinchand P. Wasdani and Clare Kurian

7 The social consequences of corporate entrepreneurial

practices: evidence from global initiatives of an
Italian family firm 84
Tommaso Minola and Alfredo De Massis

8 Furnitura Ltd – Latvia 100

Arnis Sauka and Friederike Welter

9 The Liechtenstein Brewing Co. – Liechtenstein 110

Christine Vallaster, Sascha Kraus and Urs Baldegger

10 Eat & Enjoy – the Netherlands 128

Maryse Brand and Evelien Croonen

11 Whale Watch Kaikoura – New Zealand 141

Chellie Spiller and Sanjay Bhowmick

12 Indigenous entrepreneurship in Nigeria:

growing from scratch 156
Henrietta Onwuegbuzie

13 The Culinary Arts Academy – Turkey 168

Cagri Bulut, Ahmet Murat Fiş and Duygu Secking Halac

14 Barefruit Products: a case of entrepreneurial failure

in the UK agri-food sector – United Kingdom 181
Janine Swail

15 Wynkoop Brewing Company – USA 194

John Mueller and Clay Dibrell

Index 203
FIGURES

2.1 Organizational chart of Zorbas Ltd, 2012 13

2.2 The Zorbas family tree 15
3.1 World production of castings by the lost-wax method in 2009 30
3.2 Customers for precision-casting products in North America 31
3.3 Precision-casting customers in the United Kingdom 32
3.4 Industries in which ALUCAST’s products find their applications 36
3.5 Percentages of men and women in management and worker
positions 37
3.6 Age structure of the firm’s top management 38
3.7 Turnover in million euros 39
5.1 AML organizational chart 59
5.2 AML company belief 61
5.3 The Mok family 62
6.1 The geographical spread of TPL’s operations (2012) 72
6.2 The Indian market share of TPL (after the merger of Penpol
with Terumo Corporation, Japan) as well as its competitors
(2012) 80
6.3 Production of TPL in units (1987–2011) 82
6.4 Sales of TPL in INR millions (1987–2011) 82
7.1 Cement factory of Alzano Lombardo (Bergamo, Italy) 87
7.2 The Pesenti family tree 89
7.3 Carlo Pesenti (1959), third-generation leader of the firm 90
7.4 i.lab, the new global R&D center (Bergamo, Italy), opened
in April 2012 91
7.5 Ait Baha cement factory (Morocco, North Africa) 92
7.6 Members of Italcementi Group’s Sustainable Development
Steering Committee 95
viii Figures

9.1 Beer market in Switzerland – unit sales 114

9.2 Company logo 115
9.3 Uses of the company design 116
9.4 “iisi” beer 117
9.5 Teaser campaign 122
9.6 The use of social media – Liechtenstein Brewing Co. 123
9.7 The brewing copper 124
9.8 The Schnapps 125
12.1 Map of Africa showing where Nigeria is located 157
12.2 Map of Nigeria showing its 36 states 158
12.3 Madu standing beside samples of the plastic vehicle spare parts
manufactured locally 163
12.4 Façade of Madu’s family home in Lagos, Nigeria 164
12.5 Products designed by Madu and manufactured in China 165
13.1 Organization chart 179
14.1 Barefruit’s product range 182
15.1 Declaration of Beer Independence 197
15.2 Wynkoop’s beer production, 2008–2012 199
15.3 Wynkoop’s beer sales, 2008–2012 200
15.4 Wynkoop’s retail customers, 2008–2012 201
TABLES

0.1 Cases and issues along with the countries of origin and industries xx
2.1 Zorbas Ltd: Board of Directors, 2012 15
2.2 Timeline of the entrepreneurial development of Zorbas Ltd:
key developments 20
3.1 SWOT analysis of the precision casting industry in the
Czech Republic 33
3.2 SWOT analysis of ALUCAST s.r.o. 40
5.1 Overview of the group’s Top Management Team 58
5.2 AML second generation: education and working experience 65
5.3 Growth of AML since 2007 66
9.1 The Swiss beer market and beer consumption 113
9.2 Pricing of Liechtenstein Brewing Co.’s beers 119
10.1 Figures on the Dutch retailing sector in general and specialty
food stores (1998–2007) 132
10.2 The development of franchising in the Netherlands 134
10.3 Projected turnover in 000s euros 134
10.4 Estimates of closings and openings of Eat & Enjoy 139
11.1 Introduction to Māori values 146
13.1 The culinary training market in 2011 176
CONTRIBUTORS

Kevin Au earned his Ph.D. in management/international business at the University

of British Columbia. Professor Au founded and directs the Center for Entre-
preneurship and the Centre for Family Enterprising and Business Advising at the
Chinese University of Hong Kong. He also serves as Associate Director of
the MBA Programmes. His research interests include international management,
entrepreneurship, family business, social network and cross-cultural research
methodology. Kevin has extensive publications and served on the editorial boards
of several academic journals. His edited book Family Enterprising in Asia: Exploring
Transgenerational Entrepreneurship in Family Firms is forthcoming. Kevin has consulted
both government and business corporations, including the Central Policy Unit,
Hong Kong Cyberport, Credit Suisse and a number of startups.

Urs Baldegger is Professor for Entrepreneurship and Chairholder of the Van

Riemsdijk Endowed Chair at Liechtenstein University. Before that, he was
Professor for Entrepreneurship at the HTW University Chur, Switzerland, and
Research Assistant and Lecturer at the University of St Gallen, Switzerland, where
he was also awarded his doctorate. Next to his academic career, Prof. Baldegger
holds extensive experience as corporate consultant and member of the supervisory
board of several young as well as of established companies. His research interests
mainly lie in the fields of Entrepreneurship Education, Transformation Processes
as well as in the intersection between management and psychology.

Vladimír Bartošek, Ph.D., graduated with an MA in Economics at the Faculty of

Business and Management, Brno University of Technology. His postgraduate study
was carried out at the Faculty of Business and Management, Brno University of
Technology, in the field of operation management and logistics management; here
he also obtained his Ph.D. In 2006 he took part in a six-month research fellowship
 Contributors xi

in the UK, at Liverpool Hope University. He is a senior lecturer and vice-director

of the Department of Management at the Faculty of Business and Management,
specializing in the fields of logistics management and information systems of
manufacturing companies.

Sanjay Bhowmick has been teaching courses in strategy, entrepreneurship and

innovation, as well as finance and entrepreneurial finance, at the University of
Auckland, the Foundation for Liberal and Management Education in India, and
now at Newcastle Business School, Northumbria University, UK. He has an MBA
from the University of Delhi and a Ph.D. from the University of Auckland. Sanjay
is an achievement motivation trainer and conducts entrepreneurship development
programmes with existing and aspiring entrepreneurs. Before academia, Sanjay has
had senior management experience in banking, consulting and venture capital. His
theory-building research interests lie in entrepreneurship, firm internationalization
and social cause venturing.

Maryse Brand earned a Ph.D. in economics at the University of Groningen in

the Netherlands with a dissertation in the field of business-to-business marketing.
After her Ph.D., she worked for a number of years as a small business consultant.
At present, Maryse is Associate Professor of Small Business and Entrepreneurship
at the Faculty of Economics and Business in Groningen. Maryse is a member of
the review board of the Journal of Small Business Management and has published in
peer-reviewed journals, including Entrepreneurship, Theory and Practice, Journal of Small
Business Management, Small Business Economics and Management International Review.
Her interests focus on strategic small business topics such as internationalization,
cooperation, franchising, strategic HRM and innovation adoption.

Cagri Bulut is Associate Prof. and Dr of Management in the Business Administration

Department at Yasar University, Turkey. Cagri Bulut has a B.Sc. in Economics
from Istanbul University, an M.Sc. in Strategy and a Ph.D. in Business
Administration from Gebze Institute of Technology (GIT), Turkey. Before joining
Yasar University, he served as postdoctoral Economist at the Food and Agriculture
Organization of The United Nations, CountrySTAT Project. Cagri has written
for a wide range of publications on Strategy and Management of Innovation and
Corporate Entrepreneurship. His research particularly focused on culture-based
strategic orientations and firm performance, Social and Technological Innovations,
Intrapreneurship and Intellectual Capital Management. Besides supervising many
Ph.D. students, Calgri has been visiting professor in a number of European
countries, such as Italy, Portugal, Slovenia and Germany. He has taken part in many
projects, some funded by the Scientific and Technological Research Council of
Turkey (TUBITAK) and ISI-FRAUNHOFER. Outside the university, Cagri is
a member of the Entrepreneurship Education Commission at TUBITAK, a council
member of the Third Council of the Ministry of Science, Technology and Industry
of Turkey; he has represented the Republic of Turkey in the OECD, and in many
xii Contributors

other organizations supporting entrepreneurship. He is the co-editor of Yasar

university journal, and a member of reviewer and editorial boards for prominent
business journals. Dr Bulut is Ambassador of the Academy of Management,
Entrepreneurship Division, Turkey.

Jeremy Cheng holds an MBA with Distinction from Victoria University of

Wellington, an MA in Linguistics and a BSSc in Psychology from the Chinese
University of Hong Kong (CUHK). He is now an Ed.D. candidate at the
University of Bristol. Jeremy is currently an Executive Officer at CUHK where
he is responsible for developing and running executive education programmes. His
partners include overseas universities and multinational companies. He is also
involved in the Business School’s new initiatives in Kuwait. Jeremy is a member
of the CUHK Research Team of Successful Transgenerational Entrepreneurship
Practices and the Family Firm Institute. He is also a Chartered Marketer with the
Chartered Institute of Marketing.

Evelien Croonen earned a Ph.D. in Management at the University of Groningen

in the Netherlands with a dissertation titled ‘Strategic Interactions in Franchise
Relationships’. Currently, Evelien is an Assistant Professor at the Department of
Innovation Management and Strategy of the Faculty of Economics and Business
at the University of Groningen. She mainly teaches about small business strategy
and management, entrepreneurship, innovation and franchising. Her research is
focused on franchising, and more specifically on strategy, management and
performance on both the level of franchise systems and the level of units/franchisees.
Evelien has published in peer-reviewed journals, including Entrepreneurship, Theory
and Practice, Journal of Small Business Management and Journal of Business Ethics.

Alfredo De Massis is Director of the Centre for Family Business at IEED, Lancaster
University Management School (UK), and a former Professor at the University of
Bergamo (Italy), where he co-founded the Center for Young and Family Enterprise
(CYFE), which he ran as Deputy Director until September 2013. He serves as
Chair of the European Leadership Council and Global Board Member of the Global
STEP Project for Family Enterprising. His research interests include innovation
management and organizational goal-setting in family firms. On these topics, he
has published widely in leading academic and professional journals, including
Entrepreneurship Theory and Practice, Journal of Product Innovation Management, Journal
of Small Business Management and Family Business Review. He has been TOFT
Professor at CeFEO/JIBS (Sweden), and a management consultant in Accenture
and SCS Consulting.

Clay Dibrell is an Associate Professor of Management at the University of

Mississippi, a research fellow with the Australian Centre for Family Business at
Bond University, and a US Fulbright Scholar. He earned his Ph.D. from the
University of Memphis where he majored in Strategic Management and minored
in International Business. Areas of research interest include innovation, stewardship
 Contributors xiii

and family enterprises. His research has been published in leading academic journals,
including Entrepreneurship Theory and Practice, Journal of Small Business Management,
Family Business Review, Journal of Family Business Strategy, Journal of Business Research,
Small Business Economics and Journal of World Business.

Ahmet Murat Fiş received his Ph.D. in Management from Sabancı University
(2009). Dr Fiş is Assistant Professor in Entrepreneurship, and currently serves as
Head of the Entrepreneurship Department, and Coordinator of the Master in
Entrepreneurship Program at Özyeğin University. Dr Fiş’s interdisciplinary research
interests include entrepreneurship, the effects of organizational culture on various
organizational phenomenon, and strategic orientations and the firm-wide outcomes
of these strategic orientations. His recent research focuses on corporate entre-
preneurship in particular, in which he aims to reveal the underlying factors
behind firm-level entrepreneurship and its outcomes. He has presented his work
at various national and international conferences, and has a book chapter besides
articles published in refereed journals. His teaching interests parallel his research
concentration.

Elias Hadjielias is Lecturer in Entrepreneurship at the University of Central

Lancashire, Cyprus (UCLan Cyprus). He has a Ph.D. from Lancaster University
(UK) in ‘Cooperation and Collective Entrepreneurial Learning in Family Business
Organizations’. Elias is Course Leader of BA (Hons) Business Administration and
Director of CEDAR, the Centre of Entrepreneurial Development, Alliance and
Research at UCLan Cyprus. Elias teaches entrepreneurship and management at
both the postgraduate and undergraduate levels. His research interests revolve around
collective entrepreneurship, entrepreneurial learning, family business, and intra and
inter-group cooperation. He has also consulting experience in startups and new
venture development.

Søren Henning Jensen holds a B.Sc. EBA, an M.Sc. in Business Administration

and Strategic Management and a Ph.D. from Copenhagen Business School (CBS),
where he currently works as Associate Professor in Strategy and Leadership. He
has conducted research in entrepreneurship, looking to shed further light on issues
such as entrepreneurial orientation, differences in family and non-family firms and
entrepreneurship in knowledge-intensive companies. Søren Henning Jensen has
published a book and several articles based on his research. In addition to his research
activities, he is managing a master’s programme in International Marketing and
Management (IMM). He also teaches strategy, leadership and innovation manage-
ment on both master’s and executive programmes.

Sascha Kraus is Professor for Entrepreneurship at the University of Liechtenstein

and Extraordinary Chairholder/Professor for Entrepreneurship at Utrecht
University, the Netherlands. He is also Guest Professor at Twente University, the
Netherlands, and the Autonomous University of Barcelona, Spain. Before his current
xiv Contributors

positions, he was Evald and Hilda Nissi Foundation International Fellow at the
University of Vaasa, Finland, and Substitute Professor at the Salzburg University
of Applied Sciences, Austria.

Clare Kurian is a doctoral candidate in the area of organizational behaviour and

human resource management at the Indian Institute of Management, Bangalore.
She also holds a bachelor’s degree in technology from the National Institute of
Technology, Calicut. Her current research interests focus on topics such as human
resource policies and planning in emerging economies, strategic human resource
management, leadership, employee engagement and organizational socialization.
Prior to her doctoral work, she worked for almost four years in the IT software
industry.

Mathew J. Manimala is a Professor of Organization Behaviour and Chairperson-

OBHRM Area at the Indian Institute of Management Bangalore (IIMB), India.
At IIMB he has worked closely with the N. S. Raghavan Centre for Entrepreneurial
Learning (NSRCEL) primarily to build the research competencies of the Centre
during its early years, when he served as the Jamuna Raghavan Chair Professor of
Entrepreneurship for two terms and as the Chairperson of NSRCEL for one term.
He has received several academic honours, including a Certificate of Distinction
for Outstanding Research in the Field of New Enterprise Development (Heizer
Award) from the Academy of Management. He is a member of the editorial board
of several journals and the Editor of South Asian Journal of Management.

Tommaso Minola is co-founder and Deputy Director of the Center for Young
and Family Enterprise (CYFE) at the University of Bergamo (Italy), and national
representative for the GUESSS (Global University Entrepreneurial Spirit Students’
Survey) consortium. He performs research in Entrepreneurship, Family Business
and Technological Innovation, looking at how entrepreneurs benefit from
family as a unique resource during venturing, innovation and strategic renewal
processes. His works appeared in refereed entrepreneurship and innovation journals,
such as R&D Management, Journal of Technology Transfer, International Journal of
Entrepreneurship and Innovation Management, International Journal of Small Business
and Entrepreneurship. He is Director of the Go.In’ International Entrepreneur-
ship Course at the University of Bergamo School of Management and has been
supporting small and medium enterprises and new firms’ development through
innovation and new technologies.

John M. Mueller is a doctoral candidate majoring in Entrepreneurship at the

University of Louisville. His research interests include entrepreneurial finance, and
technology and sport entrepreneurship, with his dissertation addressing whether it
is beneficial for new firms to be resourceful in their financing. He has founded
several businesses in the software and golf industries. Before entering the entre-
preneur ranks, he worked at the executive level as well as in the operational ranks,
 Contributors xv

including programming and testing software applications. His work experiences

have allowed him to live and work in the United States, Europe, the Middle East
and Africa, including serving as a US representative to South African companies
in the capacity of adviser and consultant on business linkages, partnering and
financing for small and medium businesses.

Henrietta Onwuegbuzie is currently the Academic Director for the Owner-

Manager Programme and Project Director for the Impact Investing policy initiative
at the Lagos Business School. She has an M.Sc. in Economics and Business
Administration from the University of Navarre in Spain and an MBA from Lagos
Business School. Prior to joining the LBS faculty, she managed non-profit
educational projects for the development of women in different states in Nigeria.
Subsequently, she worked in the banking sector with key responsibilities in
corporate banking. Henrietta is a member of the Governing Council of the African
Forum in Brussels, and sits on the Board of a number of Nigerian companies. She
was recently conferred the 2013 African Women Development Champion Award
by the Centre for Economic and Leadership Development.

Panikkos Poutziouris is Professor of Entrepreneurship and Family Business at the

University of Central Lancashire, Cyprus (UCLan Cyprus), the Enterprising British
University in Cyprus. Panikkos is Head of the School of Business and Management
and Chair of CEDAR, the Centre of Entrepreneurial Development, Alliance and
Research at UCLan Cyprus. He has served for almost two decades on the Faculty
of Manchester Business School, University of Manchester (UK) as Fellow in SME
Management, Senior Lecturer in Entrepreneurship and Visiting Associate Professor
for Family Business Initiatives. Professor Poutziouris lectures, coaches, researches,
publishes and advises internationally on Entrepreneurship and Strategic Develop-
ment of Family Businesses and Business Families.

Martina Rašticová, Ph.D., is a social and organizational psychologist. She graduated

from Masaryk University, Brno, in 2004 (Ph.D. studies). In 2006 and 2007 she
received a scholarship at George Washington University, Washington, DC, USA.
She is currently leading the Institute of Management at the Faculty of Business
and Management of Brno University of Technology. Her professional interests
includes diversity management, social and cross-cultural psychology, and leadership.
She regularly publishes in Czech and international scientific journals.

Neusa Maria Bastos F. Santos is a Full Professor of Management and Organization

at the School of Business of the Pontificial Catholic University of São Paulo
(PUCSP). She was a Fulbright Scholar (CIES) at the Gerald Ross Business School,
University of Michigan, and Visiting Professor at McGill University, Canada, under
the Faculty Research Program sponsored by the International Council of Canadian
Studies (ICCS). She received her Ph.D. from the University of São Paulo (USP).
Dr Santos also serves as the Director of the Master Program in Accounting and
xvi Contributors

Finance at PUCSP. Her research interests are focused on entrepreneurship in its

forms and approaches, and their consequences in the workplace, organization and
society, cross-cultural management, corporate culture and governance. Her work
has appeared in many academic journals, including Career Development International,
Women in Management Review, Management Research News, Employee Relations and
in Brazilian leading journals.

Carlos Eduardo de Sousa is currently a Ph.D. student in the Management

Department at Pontifícia Universidade Católica de São Paulo (PUC/SP), Brazil.
His work focuses on research that involves issues of fairness, equity and morality
in organizational interactions and behaviour. His three main topics of interest are
diversity, organizational justice and ethical behaviour. In 2008, he received his
master’s degree in Education from Harvard University, USA. Carlo has served
in different academic commissions, including Harvard’s Student Government
Association (Vice President, Diversity), Harvard’s Office of Student Affairs (Multi-
cultural Advisory Council member) and the Harvard Graduate Council. Carlos
is currently a Jorge Paulo Lemann Fellow and member of the Academy of
Management.

Carlos Denner dos Santos Jr is an Adjunct Professor of the Department of

Management at the Universidade de Brasília (UnB), Brazil. He has previously
worked as a Research Fellow in the Horizon Digital Economy Research Institute
at the University of Nottingham, UK. Carlos earned his Master’s in Strategic
Management from Universidade Federal de Minas Gerais (UFMG), Brazil; Ph.D.
in Management Information Systems as a Fulbright Scholar from Southern Illinois
University at Carbondale, USA; and post-doctorate in Computer Science from
the Universidade de São Paulo (USP), Brazil. His research interests include
Open Innovation, Free and Open Source Software, Adoption and Diffusion of
Information Technology and Innovation, Statistical Methods, and Organizational
Theory.

Roberto Fernandes dos Santos received his Ph.D. and master’s degree in
Controllership and Accounting from the Universidade de São Paulo, Brazil, and
his bachelor’s degrees in Engineering, Business Administration and Accounting
from the same university. Dr Santos is a Full Professor at the Pontifícia Universidade
Católica de Sáo Paulo (PUC/SP), Brazil, where he serves on the Graduate
Studies in Controllership and Finance; he is also a professor in the undergraduate
degree in Controllership and Accounting from the Universidade de São Paulo. He
also serves as the Director of the Master Program in Accounting and Finance at
PUC/SP. Dr Santos has extensive professional experience in Controllership,
working in important multinational groups in Brazil.

Arnis Sauka joined SSE Riga as a research fellow in 2005. At the beginning
of 2008 Arnis Sauka earned a Ph.D. in Business Administration (magna cum laude)
 Contributors xvii

from the University of Siegen (Germany). Prior to that, Arnis was a visiting Ph.D.
candidate at Jönköping International Business School (Sweden) and a teaching
fellow at SSEES/University College London (UK). From 2011 to 2013 Arnis was
Academic Vice-Rector at Ventspils University College where he established the
Centre for Entrepreneurship Innovation and Regional Development. His research
findings have been published in a number of peer-reviewed books and journals,
and presented at numerous European and North American conferences. His main
research interests include productive and unproductive entrepreneurship, business
startups, growth and exits, entrepreneurship policy-making and entrepreneurship
in transition context.

Duygu Seckin Halac is a graduate business student at the Graduate School of Yasar
University, Turkey.

Chellie Spiller, of Ngāti Kahungunu and Pākehā lineage, researches, writes and
lectures at the University of Auckland Business School. Her Ph.D. investigated
how Māori businesses create authentic and sustainable wealth and well-being. Chellie
was a Fulbright Senior Scholar at the Harvard Kennedy School and the University
of Arizona between November 2011 and March 2012. She is a recipient of a
2011 Dame Mira Szászy Māori Alumni Award, 2011 National Māori Academic
Excellence Award, and 2010 AuSM Best Lecturer Award, AUT University. Her
publications reflect an abiding respect for authentic leadership, indigenous entre-
preneurship, and relational well-being and wealth. Chellie has two books forth-
coming, one on indigenous spiritualties at work and the other on wayfinding and
the craft of celestial navigation.

Janine Swail is a lecturer in Innovation and Entrepreneurship at Nottingham

University Business School within the University of Nottingham Institute for
Enterprise and Innovation (UNIEI). Prior to joining UNIEI in February 2013
she was a lecturer in Entrepreneurship at Newcastle University Business School
(2007–2013) and completed her Ph.D. in gender and nascent entrepreneurship at
the University of Ulster (2003–2007). Janine’s research interests are in nascent
entrepreneurship, and in particular how women navigate the entrepreneurial
process. She is also interested in the role of media and culture in influencing entre-
preneurial intentions, particularly among young people. She is currently on the
Board of Trustees for the Institute of Small Business and Entrepreneurship (ISBE),
which is the network for people and organizations involved in small business and
entrepreneurship research, policy, education, support and advice.

Christine Vallaster is Associate Professor at the University of Liechtenstein. She

received her postdoctoral lecture qualification (Habilitation) from the University
of Innsbruck, Austria. She publishes regularly in academic journals, including Business
Horizons, European Journal of Management, Journal of Marketing Management and
Qualitative Research: An International Journal. For practitioners, her contributions
xviii Contributors

appeared in journals like Harvard Business Manager. Additionally, she works as a

consultant.

Kishinchand Poornima Wasdani is a doctoral scholar at the Department of

Management Studies, Indian Institute of Science (IISc), Bangalore, India. Prior
to joining the doctoral programme of IISc, she has worked as Assistant Professor
at Saint Gits College of Engineering, Kerala, India. She is also the Associate Editor
of South Asian Journal of Management. Her research interest is in the area of
Entrepreneurship, especially the sources and process of Opportunity Recognition
in the different stages of venture creation and management.

Friederike Welter is President of the IfM Bonn (Institut für Mittelstandsforschung)

and Professor for SME management and entrepreneurship at the University of
Siegen, Germany. She is Visiting Professor at Jönköping International Business
School in Sweden and at the Small Business Research Centre at Kingston University
in Kingston, UK. Her research interests are entrepreneurial behaviour and policies
in different contexts and women entrepreneurship. Friederike is on the review
board of several leading entrepreneurship journals as well as editor of Entrepreneurship
Theory and Practice. She is a Fellow of the European Council of Small Business and
Entrepreneurship (ECSB) and Wilford L. White Fellow of the International
Council of Small Business (ICSB).
PREFACE

Economic development is a priority for all nations, which they try to achieve
primarily by promoting entrepreneurship and new venture creation. This is
important even for the developed nations, as the economy would stagnate if there
were no new ventures. New ventures in an economy serve a function similar to
that of new sprouts in an ecosystem. While the new venture creation is primarily
a function of the entrepreneurial orientation and volition of the individual, the
survival and growth of the venture will depend largely on the quality of the
entrepreneurial environment in a country or the ‘entrepreneurial framework
conditions’ (EFCs), as they are designated by the Global Entrepreneurship Monitor
(GEM) project. The GEM 2013 document defines nine such EFCs, which are as
follows: (1) financial support to new firms; (2) government policy on new firms;
(3) government programmes for new firms; (4) education and training support;
(5) research and development transfer; (6) commercial, legal and professional
infrastructure; (7) market openness and ease of entry; (8) adequacy of physical infra-
structure; (9) appropriateness of social and cultural norms.1
The above list of factors is illustrative of the complexity of the entrepreneurial
environment and its ‘difficult-to-predict’ impact on new venture creation. More
importantly, these factors and their relative strengths and weaknesses will vary
significantly across nations and therefore may have differential impact on the creation,
survival and growth of new ventures. In an era of globalization, it would be useful
for all concerned (entrepreneurs, researchers, consultants as well as policy-makers)
to appreciate the characteristics of the entrepreneurial environment and relate them
to entrepreneurial actions in different countries. It is with the intention of painting
a broad scenario of entrepreneurship in different countries that we have undertaken
a project to publish a case-book containing entrepreneurship cases from different
countries. Accordingly, we have assembled such cases on fifteen different enterprises
from as many different countries. Authors invited to contribute are all members of
xx Preface

TABLE 0.1 Cases and issues along with the countries of origin and industries

Chapter Country & Case Industry Topics/issues

no.
1 Brazil
Business incubation Oil and gas • Niche-based service ventures
and the PipeWay (pipeline • Startups competing with MNCs
business case inspection • Strategies for capability building
and repairs) – internal development versus
acquisition
2 Cyprus
From family business Bakery • Family business – growth and
to business family: the professionalization
strategic development • Entrepreneurship as a process
of Zorbas – Master • Social responsibility of business
Bakers
3 Czech Republic
ALUCAST s.r.o. Aluminium • High-tech ventures and
casting technology upgradation
• Environmental issues and CSR
in new-venture creation
• Quality and capability
development in SMEs
• Succession planning
4 Denmark
Noma Restaurant • Ethnic business
• Expertise development
• Enterprise growth
• Internationalization
5 Hong Kong
AML Engineering • Family business –
(manufacturing) professionalization and
succession management
• Enterprise growth and
internationalization
• Fostering entrepreneurship in
family firm
6 India
Terumo-Penpol Biomedical • R&D-based startup in a
devices developing economy
(manufacturing) • Ecosystem for high-tech
entrepreneurship
• Startup phases and processes
• Growth and internationalization
7 Italy
Italcementi Group Cement • Transgenerational family
(manufacturing) entrepreneurship
 Preface xxi

TABLE 0.1 continued

Chapter Country & Case Industry Topics/issues

no.
• Social innovation as
entrepreneurial outcome
• Environmental and
sustainability issues
• Industry–government
collaboration in CSR
8 Latvia
Furnitura Ltd Furniture and • Business failure versus
home interiors entrepreneurial failure
• Strategies for expansion and
growth
• Management education/
experience and new venture
creation
9 Liechtenstein
The Liechtenstein Brewery • Marketing of new venture
Brewing Co. product: entry strategies for
small-country product in big-
country market
• Competing with MNCs –
pricing strategy
• Internationalization
10 Netherlands Eat & Enjoy • Food and cooking products
• Strategic management of new
ventures
• Franchising
• Internationalization
• Business failure
11 New Zealand
Whale Watch Eco-tourism • Community entrepreneurship
Kaikoura • Eco-friendly business
• Entrepreneurship and regional
development
• Alternate business strategies
• Sustainable business growth
12 Nigeria
Indigenous Automobile • Entrepreneurship training –
entrepreneurship spare parts apprenticeship versus classroom
in Nigeria: (import, retail, instruction
growing from scratch wholesale and • Family business
manufacture) • Professionalization of family
business
• Growth and diversification
xxii Preface

TABLE 0.1 continued

Chapter Country & Case Industry Topics/issues

no.
13 Turkey
The Academy of Vocational • Academic/institutional
Culinary Arts training entrepreneurship
• Social entrepreneurship
• Growth strategies
• Internationalization
14 United Kingdom
Barefruit Products: Agri-food • Business plans and planned
a case of entre- business
preneurial failure • Systematic search for business
in the UK agri- opportunities
food sector • Training for venture creation
• Business failures and learning
from them
15 USA
Wynkoop Brewing Craft brewery • Entrepreneurship and
Company community development
• Green business
• Lifestyle business
• Growth strategies for
traditional/lifestyle business

the ‘Ambassadors’ Program’ of the Entrepreneurship Division of the Academy of

Management. The titles of the cases, along with the countries and industries they
represent and the topics and issues discussed in them, are given in Table 0.1.
The cases are drawn from countries that are at various levels of economic
development, broadly classified as developed and developing. Within the latter,
one could make further classifications such as emerging (e.g. Brazil, India) and
transitional (e.g. Czech Republic, Latvia) economies. There are also wide variations
in the geographical sizes and population of these countries. The principality of
Liechtenstein, with an area of 160 sq km and a population of about 35,000 is the
smallest. In contrast, countries such as the United States, Brazil and India are large
in terms of land area as well as population. Obviously, the entrepreneurial
opportunities and constraints under such vastly varying business environments would
be of a different nature.
The industries represented in this volume of cases also offer some variety. It is
not surprising that many of them are low-tech ventures such as breweries, bakeries,
restaurants, food products and the like, especially because entrepreneurs sometimes
use low-tech startups as an entry strategy where the chances and costs of failure
are likely to be low. Among the high-tech ones are products/services such as
biomedical devices, high-precision casting, advanced machine tools and engineering
 Preface xxiii

plastics, and pipeline inspection and repair using robots. There are also interesting
combinations of low-tech products with high-tech processes, as in the case of
Furnitura (the Latvian enterprise), where the product (furniture and home interiors)
are traditional but the order placing by customers and subsequently the custom
manufacturing of the order are computer controlled. About two-thirds of the cases
included in this volume are product companies. Although the service companies
are few, they represent some unique and emerging services such as robotic
inspection and repair of oil and gas pipelines (Brazil), vocational training (Turkey)
and eco-tourism (New Zealand).
The cases discuss a large number of themes and issues concerning new venture
creation. The dominant ones are: management of family business with special
emphasis on transgenerational growth, professionalization and succession manage-
ment; strategies for marketing new venture products and services, especially when
competing with large and established players, including multinational companies;
strategies for growth, especially through expansion, diversification, franchising
and internationalization; developing and retaining human capital as required
for the various stages in the startup and growth of the enterprise; corporate social
responsibility of entrepreneurial ventures and family business, which is demonstrated
through the development of green and sustainable ventures developed in collab-
oration with and for the benefit of local communities with the objective of
regional development; technology development, management and upgradation,
especially in the context of R&D-based or niche-based startups; the role of man-
agement education/experience as well as entrepreneurship education and training
in facilitating opportunity identification, business planning, startup processes and
growth management; business failures as distinct from entrepreneurial failures and
the possibilities of learning from them.
The last-mentioned issue (business failure) could be seen as a special feature of
this volume. Case-books about entrepreneurs often tend to be the documentation
of success stories. While it is a legitimate exercise from the perspective of presenting
role models to potential entrepreneurs as well as for highlighting the success factors
to enlighten policy-makers, it should not be forgotten that business failures are a
fact of life. In fact, they are more common than successes – according to various
estimates presented in an article recently published in The Wall Street Journal,2 about
40 per cent of new ventures fail within three years and about 65 per cent fail within
ten years, not counting the stagnant and the loss-making survivors. It would therefore
be an educative experience to look at failure cases, so we have included three of
them (that is, the cases from Latvia, the Netherlands and the United Kingdom).
Entrepreneurs themselves claim to have learned a lot from their failure experiences,
which are not unusual even for successful ones. It should be noted that business
failures need not always lead to entrepreneurial failures.
It is our ardent hope that the wide range of countries, industries, themes and
issues represented in this case-book would help our readers to appreciate the
complexity of interactions among the various constituents of the entrepreneurial
ecosystem. This book will be a source of useful insights to entrepreneurs,
xxiv Preface

entrepreneurship educators at all levels (undergraduate, graduate and executive),

researchers and policy-makers, especially for those involved with the process of
internationalization of entrepreneurial ventures, which in fact is a recurring theme
in these cases, and a fitting one too in this era of globalization. We dedicate this
volume to the international entrepreneurs (both existing and intending ones)
and thank the contributing authors from fifteen different countries for making this
case-book possible.

Notes
1 Available online at: www.gemconsortium.org (accessed 27 January 2014).
2 Available online at: http://online.wsj.com/news/articles/SB1000087239639044372020
4578004980476429190 (accessed 28 January 2014).
1
BUSINESS INCUBATION AND
THE PIPEWAY BUSINESS CASE
IN BRAZIL
Neusa Maria Bastos F. Santos, Carlos Eduardo
de Sousa, Carlos Denner dos Santos Jr and
Roberto Fernandes Santos

Entrepreneurs often face the challenge of leveraging resources to advance novel

business ideas and develop their business. Entrepreneurial initiatives often demand
new spaces that can both shelter the development and accelerate the consolidation
of innovative businesses. In Brazil, ever since 1984, parks for the development of
technology have been created in order to address these issues by hosting technology-
based companies that were constituted through agreements with the National
Council for Scientific and Technological Development (CNPq). These parks
were first founded in specific cities such as São Carlos in the state of São Paulo,
Joinville in the state of Santa Catarina, Campina Grande in the state of Paraíba,
Manaus in the state of Amazonas and Santa Maria in the state of Rio Grande do
Sul. These early experiments led to the creation of new parks in many different
regions of Brazil.
With the creation of industrial clusters and technology parks, the emergence of
the concept of incubators for technology-based companies was a natural
consequence. Business incubators are non-profit organizations where a flexible and
supportive environment is established to help not only the emergence but also
the growth of enterprises (Dornelas, 2002). As the name implies, business incu-
bators are designed to provide a nurturing environment for the growth and
development of starting enterprises, hence promoting entrepreneurship, business
formation and innovation. These incubators help their entrepreneurial companies
by providing them with business infrastructure (e.g. affordable workspace, shared
facilities), knowledge base for learning and researching (e.g. counseling, training,
information), and access to professional networks and community involvement
(Lalkaka, 2003).
The Batavia Industrial Center, located in the Finger Lakes region of Upstate
New York, is widely recognized as the first business incubator, founded in 1959
2 N. Santos, C. de Sousa, C. dos Santos and R. Santos

(Adkins, 2002). The Mancuso family purchased an old manufacturing plant in hopes
to rent it to a single tenant and eventually decided to divide the space up into
smaller offices that could be used by small companies. At the time, Joseph Mancuso
decided to provide these small enterprises not only with accounting help but also
to assist them with raising capital and other business assistance services (Adkins,
2002). Since then, the idea of aggregating young companies under one roof and
providing them with the conditions for survival and growth has gained great
popularity.
Business incubation has experienced rapid worldwide growth over the years.
The National Business Incubation Association (NBIA) reports that, by 1980, there
were 12–15 incubators operating in the United States. As of 2006, there were over
1,400 business incubators in North America and about 7,000 incubators worldwide
(Knopp, 2007).
With the help of incubators, entrepreneurs are better equipped with a compre-
hensive service portfolio to turn their business ideas into successful companies
potentially capable of long-term survival and sustainable growth. In fact, research
conducted by the NBIA, the University of Michigan, the Southern Technology
Council, and Ohio University1 has shown that business incubators reduce the
risk of business failures. Business incubators also have a tremendous potential
for regional development, job and wealth creation, and entrepreneurship pro-
motion.
A growing number of incubators in Brazil turn enterprises into successful
companies, such as the case of focus PipeWay, a company initially hosted by the
incubator Pontifical Catholic University in Rio de Janeiro (PUC-RIO). The PUC-
RIO incubator is a national reference in the promotion of entrepreneurship and
welcomed this new enterprise constituted in 1998. PipeWay demonstrated that its
success was the product of PUC-RIO incubator’s support combined with its own
unique vision and entrepreneurial behavior. As a result, PipeWay was accredited
with the ANPROTEC award for being the best incubated company of the year
2000.

Entrepreneurship in Brazil
Entrepreneurship has become essential for the growth and development of
countries, especially because of its potential to impact a country’s competitiveness
and rate of new jobs creation (Amorós et al., 2011). In the 2010 edition of
the Global Entrepreneurship Monitor Brazil report (GEM/Brazil report2), a
comprehensive assessment of the current entrepreneurial activity, aspirations and
attitudes of individuals across Brazil was reported. Given the importance of entre-
preneurship for the well-being of a society, the picture of entrepreneurial activity
in Brazil painted by the GEM assessment proves informative. Understanding the
trends of entrepreneurial activity in Brazil may help diagnose the future economic
health of the country.
 The Pipeway business case in Brazil 3

Total Early-Stage Entrepreneurial Activity (TEA)

The TEA index is a measure of the percentage of a country’s working population
(ages 18–64) currently involved in the creation of new business enterprises (i.e.
businesses with less than 42 months of existence). The 2010 GEM Brazil report
shows a national TEA index of 17.5 percent, the equivalent of 21.1 million Brazilian
entrepreneurs in 2010. Among the countries that constitute not only the Group
of Twenty Finance Ministers and Central Bank Governors (also known as the
G-20) but also the BRIC countries (i.e. Brazil, Russia, India and China), Brazil
stands as having the largest TEA, followed by China with a TEA index of 14.4
percent and Argentina with 14.2 percent.

Entrepreneurial attitudes and perceptions

The GEM Global Report (Kelley et al., 2010) summarizes the importance of a
society’s entrepreneurial attitudes:

• A society can benefit from people who are able to recognize valuable business
opportunities, and who perceive they have the required skills to exploit them.
Moreover, if the economy in general has positive attitudes toward
entrepreneurship, this will generate cultural support, financial resources,
networking benefits and various other forms of assistance to current and
potential entrepreneurs (p. 17).
• Among Brazilians, the GEM measured the perception of opportunities and
intentions to start a business. On average, it found that the percentage of the
country’s adult population, ages 18–64, that believed there would be good
opportunities for starting a business in their area equals 48.1 percent. The GEM
also assessed fear of failure, finding that only 33.2 percent of working Brazilians
fear starting a business. As for the perceptions about entrepreneurship measure, the
GEM found that: (1) entrepreneurship in 2010 was a desirable career choice
for more than 78 percent of the Brazilian respondents; (2) Brazil’s perceptions
regarding the status of an entrepreneur were the highest (79 percent) in the
efficiency-driven Latin American countries; and (3) the perception of media
attention given to entrepreneurs was also high, with 81.1 percent of participants
responding that they constantly see stories of successful entrepreneurs being
reported by the media.

Entrepreneurial aspirations
One of the most significant GEM measures used to assess the entrepreneurial
aspirations of entrepreneurs about their new business is job creation. Among Brazilian
entrepreneurs, 36 percent of the respondents had no expectation of creating new
jobs within the following 5 years, and 23 percent had the goal of generating 6 or
more job opportunities within the same time period. This means that in the next
4 N. Santos, C. de Sousa, C. dos Santos and R. Santos

5 years, of the 21.1 million Brazilian entrepreneurs in 2010, 4.9 million believe
they will be able to generate 6 or more job opportunities. This represents a 15.2
percent increase in the percentage of the aspiration relative to the previous year
(GEM Brazil Report, p. 11).

Conditions surrounding entrepreneurship in Brazil

Although Brazil is a very promising emerging market with an enthusiastic entre-
preneurial mindset, there is significant room for improvement, particularly in the
policy realm. In 2011, Brazil ranked 126 out of 183 economies in the Ease of
Doing Business index calculated by the World Bank’s Doing Business project
(World Bank, 2011). The same report indicates that starting a business in Brazil
takes 120 days, which represents double the average amount of time for Latin
American and Caribbean countries, and is far worse than the average 13 days for
the member countries of the Organization for Economic Co-operation and
Development (OECD countries). According to the 2010 GEM Brazil Report,
Brazilian entrepreneurs also face the lack of governmental policies and programs
for entrepreneurship support, a complex tax system and difficulties in access to
loans. Moreover, entrepreneurship (lack of) education is also a limiting factor. Never-
theless, specialists particularly emphasize social and cultural norms as well as a
favorable economic environment as some significant positive conditions surround-
ing entrepreneurship in Brazil.
The country’s economic growth has had a tremendous impact on factors
surrounding entrepreneurship in Brazil. The country’s levels of necessity versus
opportunity-based entrepreneurship demonstrate this. The proportion of startup
entrepreneurs who have identified their motives as based on necessity decreased
from 5.9 percent to 5.4 percent relative to 2009; on the other hand, a more stable
market, with controlled inflation and economic growth has enabled opportunity-
based businesses to thrive.

The PipeWay business case

Historical background
PipeWay Ltd is in the business of inspecting and cleaning gas and oil pipelines.
PipeWay’s history starts in the labs of the Pontifical Catholic University of Rio
de Janeiro (PUC–RIO), where a conjoint research project was underway with the
support of Petrobras, a Brazilian company with operations that cover extraction,
refinery and distribution of oil and gas in every continent. Initially, Petrobras
provided the technology through licensing and sponsorship, and PUC-RIO
researchers entered with expertise and innovative approaches for pipeline inspection.
As this partnership evolved and more ideas were generated, the researchers applied
for support from the Genesis business incubator at PUC-RIO (a national reference
in the promotion of entrepreneurship), where the company was then created in
 The Pipeway business case in Brazil 5

1998, enjoying infrastructure and managerial support until its “graduation” in 1999
(Simoes, 2005). From that moment on, PipeWay, Petrobras and Genesis formed
a network of organizations that would result in the development of many innovative
products and processes that led to the international success of PipeWay.

Details of the PipeWay business case

PipeWay’s pipeline inspection gauges (PIGs) are robots that have the capability of
autonomously running through the pipelines to identify leakages, corrosion and
other anomalies using ultrasound and magnetic technology for about 48 hours
uninterruptedly (Costa, 2010). The data collected by the robot sensors are stored
in the embedded computer with real-time software while the pipeline is inspected.
After the robot is retrieved from the inspection, the data collected are transferred
to a computer equipped with the tool that configures the robot, generates reports
and allows the visualization of the anomalies identified in the inspection (i.e. an
information system to support decision-making).
The computer model in the proprietary information system developed by
PipeWay presents the defects in three dimensions, according to the shape of the
magnetic field created and read by the robot in the pipeline (flux signal
characteristics), and informs the exact location of these defects (Gloria et al., 2009).
Based on that report and the severity of the anomalies, engineers can evaluate
the status of the pipelines to plan maintenance activities, and prevent accidents
and damages, saving financial and environmental costs, and minimizing human
exposition to hazardous conditions (Silva et al., 2004). PipeWay is the only
manufacturer of PIGs in the whole southern hemisphere (Costa, 2010).
PipeWay’s business model and competitive success are based on meeting clients’
specific needs. PipeWay does not sell robots; it offers information as a service, which
requires working closely with the client to identify specific pipeline characteristics
and then customize the robots to work in their unique settings (Simoes, 2005).
Dealing with customers individually, PipeWay is capable of gathering timely data
and providing the client with valuable and trustworthy information that can be
used to monitor pipes for effective planning of maintenance activities and logistics.
To maintain this customer-oriented business model, PipeWay is required to
innovate in order to expand its customer base, as its operations and products need
to be adapted and reinvented every time a client with unique needs is to be serviced.
However, that is a rewarding challenge to face, and PipeWay, aimed at growth
and internationalization, has developed this competence to diagnose and innovate
that is perhaps the source of its competitive advantage. The trigger for the learning
process of this competence has roots in the very early times of the company.
Since its germination stage, PipeWay works closely with future clients to
identify needs and opportunities to innovate, offering customized services. In the
interactions with Petrobras in the late 80s, during the “lab days,” the founders of
PipeWay identified two important needs that were not met by the market at the
time (Costa, 2010). The need to develop a 3-inch PIG, as the smallest available
6 N. Santos, C. de Sousa, C. dos Santos and R. Santos

in the market was of 4 inches and thus could not fit many pipes, especially those
in Canada (Silva et al., 2001), and the need of having a multisensor magnetic PIG
that could be more precise in describing anomalies. PipeWay created the 3-inch
and the multisensor PIGs, fulfilling Petrobras’s demand and a gap in the market,
thereby opening its own niche by differentiation and allowing the company to
attract about $1.2 million in investments from public research institutions and be
exempted from taxes in 2004.3
This early success taught PipeWay the valuable lesson that its customers vary
in needs, and pipes in diameter and thickness, requiring tailored services and products
developed on demand (Simoes, 2005). In such a market, attempts to standardize
and sell products for gains of scale are likely to fail, and success is based on continuous
development and improvement.4 This pressure to innovate generates opportunities
for research, and the development of new products becomes a natural consequence.
Accordingly, PipeWay has also created a robot that inspects the pipeline externally,
as some oil companies have pipelines with shapes that make them “non-piggable”
—that is, PipeWay found out that its current technology did not allow for internal
inspection of wavy pipes by doing research with the customer, and, innovatively,
once more, created a new product around an unmet need. Curiously, this line of
products is named “GIP,” the inverse of “PIG,” which inspects pipelines internally.
Many other products were developed (e.g. the ultrasound-based scanner), and this
increasing spectrum of robots has allowed PipeWay to expand its customer base
and internationalize its operations by creating a subsidiary in alliance with other
countries’ companies, such as the PipeWay International Inc. founded in the United
States, and PipeWay Argentina (Costa, 2010).
In 2008, 60 percent of PipeWay’s revenue stream came from overseas, whereas
in 1999 this number was of about 4 percent. Currently, PipeWay has about 40
different PIGs and over 80 employees; it is doing business in more than 10 countries,
where another number of indirect jobs were created, and had sales in the order of
$6 million in 2010, which accounts for 80 percent of the Brazilian market and half
of this country’s pipelines.5
PipeWay invests 10 percent of its revenues on average in research and
development, and is planning to increase this percentage to around 12 percent,
thanks to its market orientation and the characteristics of its employees and owners,
who are capable of transforming ideas into products. To achieve such level of success
in understanding and meeting its market-changing demands, PipeWay counts with
a highly educated team of directors, who are engineers and physicists with master’s
and Ph.D. degrees. Besides that, PipeWay opted for an internal organizational
structure with only a few levels of hierarchy (directors and collaborators), allowing
for a fast and noiseless communication that leads to effective decision-making
processes. Furthermore, to meet the specific challenges of continuous innovation,
PipeWay focuses on building close relationships with customers and various
organizations. Nowadays, it collaborates with about 13 organizations, ranging from
universities, research centers, associations and private companies. This configuration
 The Pipeway business case in Brazil 7

affects the bottom line of the business, keeping PipeWay ahead of its competitors
and opening new markets constantly.

The outcomes in the case company

PipeWay began its operations in a small room with only seven employees in the
Genesis business incubator at PUC-RIO. Today, the company operates in a large
facility, where a team of about dozens of specialists, technical experts and researchers
develop and produce its tools for pipeline inspections (e.g. PIGs, GIPs, and others).
PipeWay maintains strong relationships with many research centers, including
Cenpes of Petrobras. As we discussed, per year, PipeWay invests around 12
percent of its revenues in studies of new technologies. Thanks to his innovative
ideas and entrepreneurial spirit, José Augusto Pereira da Silva (PipeWay’s cofounder
and CEO) received many awards, including being named the Ernst and Young
Entrepreneur of the Year in 2003 (emerging category). After being accredited with
the ANPROTEC Award as the best incubated company of the year 2000, PipeWay
was more recently presented with the FINEP award for Technological Innovation
in 2004. PipeWay received this national accolade in the Small Company category
by the hands of Brazil’s president at the time, Luiz Inácio Lula da Silva.
In the global market, PipeWay has also achieved noteworthy influence. PipeWay
initially entered the Latin American market through its network of relationships
in Argentina, which spread to Uruguay and later helped PipeWay to win contracts
with Chile, Bolivia and Venezuela, among others (Magacho and Costa, 2010). This
internationalization of PipeWay was a natural consequence of the evolution of its
tools and the profits generated from its international contracts. Currently, PipeWay
has great interest in the US market, demonstrated through the creation of its
subsidiary, PipeWay International Inc.
PipeWay’s growth and success has an interesting effect that goes beyond the
benefits for the company itself. As several of PipeWay’s products were developed
conjointly with Petrobras and Genesis, royalties are constantly paid to these partners
(Simoes, 2005; Costa, 2010). This scheme of technology licensing adopted by
PipeWay, Genesis and Petrobras allows the reinvestment in innovation, as Genesis
incubates several new ideas to transform them in companies, and Petrobras faces
the research challenge of constantly finding and extracting oil safely for the
environment and society in new and adverse conditions. Having these indirect
effects, PipeWay’s success creates the opportunity for new ideas to be tested and
flourish in the marketplace, giving rise to products, processes and companies that
together create innovative services and thus benefit the economy in general.
Nevertheless, PipeWay’s competitive environment is complex and uncertain, as
its competitors are also in the quest for innovation, and the recent run towards
alternative sources of energy can threaten the long-term existence of this niche of
gas and oil pipelines. How PipeWay should address these new challenges ahead
have no easy answer, but it seems appropriate to assume that the company should
8 N. Santos, C. de Sousa, C. dos Santos and R. Santos

continue to monitor the business environment at the same time that it invests in
the development of its collaborators’ and partners’ capabilities to nurture the network
of organizations it thrives to continue to be at the hub of.

PipeWay’s future: directions and challenges

One area that PipeWay seeks constant improvement is in the compilation and
presentation of the data its robots gather during the inspection. An inspection may
result in over one million corrosion defects, which makes organizing and priori-
tizing their treatment according to severity a complex and time-consuming compu-
tational task. Hence, one of PipeWay’s challenges is to optimize this process by
means of automation without jeopardizing safety, accuracy and timeliness of the
information it sells to clients. PipeWay is in an information-intensive business, and
thus its decision support systems and their embedded models must be under
constant improvement. This area is particularly suitable to the creation of research
and development teams with expertise in statistics and management information
systems, as it is probably outside PipeWay’s core competencies.
PipeWay’s computer models are based on data, and the quality of that data
influences directly the value of the information that is later generated based on it.
The magnetic technology with sensors adopted to accomplish the data-collection
task is another area that PipeWay needs to study and improve continuously. As
explained before, it was improving this exact industry process by adding more sensors
to the robots that PipeWay made its way to success. Accordingly, a disruption in
this area by a competitor, such as adding the capability of recording short movies
to the robots, which would bring the area of computer vision into the business,
may affect PipeWay’s future market performance. Like PipeWay, the other
stakeholders in the business of pipeline inspection and cleaning, which include
Bucker Hughes, BJ Services and GE Oil and Gas, are very active and innovative.
To illustrate this point, one can verify that a search with the string “pipeline pig
cleaning” on the website Patents.com returns over 40 results, with patents dated
back to the 1980s. This gives an indication that there is a lot of interest and research
activity out there in the business processes that PipeWay is specialized in.
Another area that PipeWay has to monitor is the characteristics of the pipelines
currently under development, as the location of oil might change in the near future
as the most accessible oil fields dry up. For example, Petrobras is looking into the
development of ultra-deep water pipelines right now. Can PipeWay’s processes
operate in such conditions of pressure and temperature? Possibly, adaptations will
be required to meet these new needs. Fortunately, PipeWay has already managed
to build many partnerships that were capable of addressing these types of research
challenges and, therefore, to assemble others should not be especially problematic
for the company, as it also has the personnel capabilities required.
Finally, there is the recent wave of preference for greener sources of energy,
which could materialize and become mainstream, affecting PipeWay’s operations
 The Pipeway business case in Brazil 9

deeply. However, PipeWay is already considering several of these future scenarios,

and has developed PIGs that are very versatile. With that built-in flexibility, PipeWay
believes that its robots could be easily adapted to work in ethanol and water pipelines,
a new niche that is being seriously considered by the managers.6 According to them,
up to 50 percent of the water in cities is wasted due to pipeline leakages. This
forward thinking and constant market monitoring that allows innovative and
timely responses seem to be PipeWay’s most valuable strength. Only the future
can tell if PipeWay will ever find a competitor that matches these competencies.

Case study questions

1 What factors probably led PipeWay to win so many awards, as well as
national and international recognition? Why are these factors so
important?
2 The case of PipeWay shows that startups can compete with Brazilian
multinationals. Taking into consideration a successful entrepreneurial
process, which step of this process was the most important for PipeWay
(innovation, business plan, capitalization, or other)? Why?
3 What role did the Genesis business incubator at PUC-RIO have on the
success of PipeWay? If you had a great business idea, would you rather
use an incubator to start your own company or try to advance a business
plan on your own? Why?
4 Should PipeWay try to build internal capabilities or partner with other
organizations to acquire the needed know-how to continue to have a
competitive advantage in the monitoring of pipelines business? What are
the risks of sharing knowledge with partners in this market? What about
the advantages? Is there space for a conjoint research and development
project for PipeWay and its partners?

Notes
1 University of Michigan, National Business Incubation Association, Ohio University, and
Southern Technology Council (1997). Business Incubation Works: The Results of the Impact
of Incubator Investments Study. Athens, Ohio: NBIA Publications.
2 Available online at: www.gemconsortium.org/docs/451/gem-brazil-2010-report-
portuguese
3 Available online at: www.firjan.org.br/lumis/portal/file/fileDownload.jsp?fileId=2C90
8CE9215B0DC4012163E32E004395
4 Available online at: www.ipea.gov.br/sites/000/2/meide/apresentacoes/Painal-PipeWay.
pdf
5 Available online at: www.valor.com.br/empresas/1000462/incubadora-ensina-visao-
comercial-pesquisador
6 Available online at: www.PipeWay.com.br/cgi/cgilua.exe/sys/start.htm?infoid=215&op
=pt&sid=30
10 N. Santos, C. de Sousa, C. dos Santos and R. Santos

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13 The Culinary Arts Academy – Turkey

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