Entrepreneurship

A classic is defined as something that has lasting significance or worth. Knowledge@W. P. Carey offers a selection of books that have passed the test for a group of W. P. Carey School of Business faculty. Most of these works would not be filed under "business," yet they examine strategy, organization, technology, service and other topics, albeit through a variety of lenses. The lessons and ideas within these books win them a place on the required reading list of any business person who values a broad and deep perspective — in private life as well as at work.

There is a significant correlation between higher education and small-business success, according to a recent study by Behavior Research Center of Phoenix conducted in partnership with the Spirit of Enterprise Center at the W. P. Carey School of Business. According to the poll, 75 percent of the owners have a university degree or degrees from business colleges and community colleges. Among firms that are "healthy and growing," 52 percent are guided by university graduates, a third of whom have MBAs. "In the knowledge economy, everyone is going to have to be a lifetime learner," says one W. P. Carey expert involved in the study.

A study of entrepreneurial cultures by W. P. Carey School of Business management professor Angelo Kinicki revealed similarities in leadership styles of the most successful companies. Kinicki's advice to managers of entrepreneurial companies: Try to achieve a group-rational culture by getting results through people. "Hold people accountable, but give them the resources and environment where it's fun and where people feel you care. When you do that as a leader, employees will deliver the results."

An outgrowth of Motorola in the late 1980s, Iridium was set up to be the world's first global wireless phone company. With 19 organizational partners spread across 160 countries, dozens of novel technological inventions, and over $5 billion in investment, expectations were high when Iridium was launched amid great acclaim. Less than a year later the company filed for Chapter 11. A W. P. Carey School of Business professor and his teammates have made a study of Iridium's collapse, focusing on its stages of decline and especially the transitions between those stages.