Part time and full time rural entrepreneurship from strategic management perspective - evidence from Finnish equine enterprises

Leena Maija Rantamäki-Lahtinen, Minna Väre, Markku Saastamoinen

Research output: Conference materialsPosterpeer-review

Abstract

Currently, little is known about how full or part time rural enterprises develop and are managed. In this study, the objective is to find out how the part time and full time equine enterprises could be managed from resource based view. The objectives addressed in this 1) to describe the differences and similarities of part
time and full time equine enterprises 2) to analyse the subjective economic success of equine enterprises and to describe the different critical resources they might possess. The data used was collected via internet survey on spring 2017 from 432 equine enterprises. The data were analysed by principal component analysis, cluster analysis and the non-parametric tests.
Part and full time entrepreneurs had different business goals; full time entrepreneurs stressed more
often economic objectives. As one could expect, part time enterprises has smaller turnover and had less
personnel. Entrepreneurs in full time enterprises had been working longer within the industry and also
occupancy in their stables was higher. This might indicate that there are also some qualitative differences
between firms. However, there were variation within the groups. For example, there were some part time
enterprises that had higher turnover than most of the full time enterprises. The majority of part-time enterprises
had less critical resources. As majority of the respondents had selected differentiation strategy, it
would very important to improve these resources in order to improve the profitability of equine enterprises.
Both part time and full time entrepreneurship are important for the development of sector.
We would like to stress that both forms, part time and full time entrepreneurship are important for
the development of sector. Enterprises are quite different and they operate on a little different lines of businesses,
although many of them are diversified. Therefore they complement each other. Networking and cooperation
will bring opportunities for both groups. However, the dynamics of the sector requires full time
and smaller, but professionally run part time enterprises. Enhancing management skills is important also
in small part time enterprises. For example pricing services too low by using other income as substitute is
not sustainable for the sector.
Original languageEnglish
Pages1-10
Number of pages10
Publication statusPublished - 2018
MoE publication typeNot Eligible
EventRENT XXXII Research in Entrepreneurship and Small Business Conference 2018: Sustainable entrepreneurship: A win-win strategy for the future - Palacio de Congresos , Toledo, Spain
Duration: 15 Nov 201816 Nov 2018
Conference number: XXXII
http://www.rent-research.org/rent-xxxii

Conference

ConferenceRENT XXXII Research in Entrepreneurship and Small Business Conference 2018
Abbreviated titleRENT
CountrySpain
CityToledo
Period15/11/201816/11/2018
Internet address

Fields of Science

  • 415 Other agricultural sciences

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