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There is a clear economic and social rationale in providing a second chance to failed entrepreneurs and deriving positive experiences from negative situations. Value of Failure is a comprehensive attempt at understanding the various aspects of the phenomenon of business failure. The book covers various aspects of second-chance entrepreneurs (and economic failure in general) and opportunities for changing general perception toward the phenomenon. It enables readers to understand business failure from the perspective of institutional theory; economic failure in the process of small business growth in the context of the shadow economy; Schumpeter's theory of `creative destruction' and the fear of failure; sustainable economic growth and development; and system approach to failures and their impact on the enterprise operation.
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Table of Contents

List of Illustrations; Preface; 1: From Losers to Heroes: How to Change the Perception of Business Failure and Recognize Its Value for the Economy (Joanna Markiewicz and Leszek Gracz); 2: Economic Failure in the Process of Small Business Growth in the Context of the Shadow Economy (Edward Stawasz and Jaroslaw Ropega); 3: Failure as a Barrier to Entrepreneurial New Venturing in Northern Ireland (Caroline O'Kane); 4: Business and Sustainability: Key Drivers for Business Success and Business Failure from the Perspective of Sustainable Development (Magdalena Ziolo, Filip Fidanoski, Kiril Simeonovski, Vladimir Filipovski and Katerina Jovanovska); 5: Implementation of the Enterprise Resource Planning Systems: Case Studies of Failures and Their Impact on the Enterprise Operation (Magdalena Malinowska and Andrzej Rzeczycki).

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A comprehensive attempt to understand the various aspects of the phenomenon of business failure.

About the Author

Joanna Markiewicz, PhD, is assistant professor in the Chair of Effectiveness of Innovation at the University of Szczecin, Poland. Leszek Gracz, PhD, is assistant professor in the Chair of Services Marketing at the University of Szczecin, Poland.

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