Brychan Thomas
South Wales Business School, University of South Wales, Pontypridd, CF37 1DL, UK
Alun Thomas
Business Consultant, Cardiff, UK
This paper describes an academic study into the wealth of successful technology entrepreneurs in the United Kingdom. Here we are concerned with the dimensions of wealth in terms of its measurement. The methodology used involved three stages to determine the nature of the wealth involved. Initial sources (predominantly literature) and further sources (mainly business information) were considered in stage one to understand the measurement of the wealth of successful technology entrepreneurs. Analysis and synthesis of data undertaken in stage two determined the net wealth for technology entrepreneurs in different areas of activity. The nature and importance of the measurement of the wealth of technology entrepreneurs were examined in stage three to formulate conclusions. The research question investigated “what is the average net wealth of successful technology entrepreneurs in the United Kingdom?” The contribution of the study is to bring together findings of the research in terms of the measurement of the wealth of successful technology entrepreneurs.
[1] Sunday Times. Rich List, Annual Guide to Wealth in the UK, London: The Sunday Times Magazine, 2019.
[2] American Heritage Dictionary of the English Language (AHDEL). The American Heritage Dictionary of the English Language (4th ed.), New York: Houghton Mifflin Company, 2009.
[3] M2N. The Millionaire Next Door, 2018. movies2. nytimes.com
[4] Dennis, P. Authentic Development: Is it Sustainable? In M.E.Sharpe (ed.), Building Sustainable Societies,1996.
[5] Kronman, A.T. Wealth Maximization as a Normative Principle, The Journal of Legal Studies, 1980, 9(2): 227-42.
[6] Heilbroner, R.L. The New Palgrave: Dictionary of Economics,1987.
[7] Economist. Free exchange: The real wealth of nations, The Economist, 2012.
[8] MacKenzie, N.G., Jones-Evans, D. Technical Entrepreneurship, in Carter, S. and Jones-Evans, D. (eds.), Enterprise and Small Business: Principles, Practice and Policy, Third Edition, Harlow: Pearson Education, 2012: 268-288.
[9] Bailetti, T. Technology Entrepreneurship: Overview, Definition and Distinctive Aspects, Technology Innovation Management Review, 2012: 1-15.
[10] Preston, J.T. Success Factors in Technology-Based Entrepreneurship, Massachusetts Institute of Technology, Massachusetts: MIT Entrepreneurship Centre, 2001.
[11] Utterback, J.M. Mastering the Dynamics of Innovation, Boston, Massachusetts: Harvard Business School Press, 1994.
[12] Porter, M.E. On Competition, Updated and Expanded Edition, Boston: Harvard Business School Publishing, 2008.
[13] IC2 Institute. Accelerating Technology-Based Economic Growth and Entrepreneurship in Greater Moncton, Austin: The University of Texas at Austin, 2007.
[14] Giones, F., Zhou, Z., Miralles, F., Katzy, B. A Constructivist Approach to Technology-based Entrepreneurship, The XXIII ISPIM Conference – Action for Innovation: Innovating from Experience, Barcelona, Spain, 2012.
[15] Lerner, J. The future of public efforts to boost entrepreneurship and venture capital, Small Business Economics,2010, 35(3): 255-264.
[16] Alvarez, S.A., Barney, J.B. Discovery and creation: alternative theories of entrepreneurship action, Strategic Entrepreneurship Journal, 2007, 1(1-20): 11-26.
[17] Clarysse, B., Wright, M., Lockett, A., Van de Velde, E., Vohora, A. Spinning out new ventures: a typology of incubation strategies from European research institutions, Journal of Business Venturing, 2005, 20: 183-216.
[18] Baker, T., Miner, A.S., Eesley, D.T. Improvising firms, bricolage, account giving and improvisational competencies in the founding process, Research Policy, 2003, 32(2): 255-276.
[19] Gruber, M., MacMillan, I.C., Thompson, J.D. Look Before You Leap: Market Opportunity Identification in Emerging Technology Firms, Management Science, 2008, 54(9): 1652-1665.
[20] Shepherd, D.A., McMullen, J.S., Jennings, P.D. The formation of opportunity beliefs: overcoming ignorance and reducing doubt, Strategic Entrepreneurship Journal, 2007, 11(1-2): 75-95.
[21] Sarasvathy, S.D. Causation and Effectuation: Toward a Theoretical Shift from Economic Inevitability to Entrepreneurial Contingency, The Academy of Management Review, 2001, 26(2): 243-263.
[22] Fisher, G. Effectuation, Bricolage and User Entrepreneurship: a behavioural approach to compare emerging theories in entrepreneurship research, Academy of Management Conference, San Antonio, TX, 2011: 1-46.
[23] McMullen, J.S., Shepherd, D.A. Entrepreneurial action and the role of uncertainty in the theory of the entrepreneur, Academy of Management Review, 2006, 31(1): 132-152.
[24] Oxford Dictionary. Definition of technology, 2019, online at: https://www.lexico.com/en/definition/technology; Accessed June 2019.
[25] Collins English Dictionary. Definition of technology, 2019, online at: https://www.collinsdictionary.com/dictionary/english/technology; Accessed June 2019.
[26] Cambridge English Dictionary. Definition of entrepreneur, 2019, online at: https://dictionary.cambridge.org/dictionary/english/ entrepreneur; Accessed June 2019.
[27] Investopedia. Definition of entrepreneur, 2019, online at: https://www.investopedia.com/terms/e/entrepreneur. asp; Accessed June 2019.
[28] Umphrey, M.L. Creating an Original Interpretation: The Research Process, 2002, online at: http://www.edheritage.org/wolves/researchmethods. html; Accessed May 2016.
[29] Schumaker, S., McMillan, G.H. Research in education: A conceptual introduction (3rdedition), New York: Harper Collins College Publishers, 1993.
[30] Leedy, P. Practical Research, New Jersey: Merrill, 2001.
[31] Urry, J., Larsen, J. The Tourist Gaze, 2nd ed., London: Sage, 2011.
[32] Grbich, C. Qualitative Data Analysis (2nd ed.), The Flinders University of South Australia, London: SAGE Publications Ltd, 2013.
[33] Saldaña, J. The Coding Manual for Qualitative Researchers (3rd ed.), London: SAGE Publications Ltd, 2015.
