“I want to shape future business leaders”

Oli Mihalache joins Vlerick as Professor of International Entrepreneurship

Oli Mihalache has recently been appointed Full Professor of International Entrepreneurship. He himself also has an international background, having lived and worked in Romania, Canada, France and the Netherlands. “I don’t have a personal motto”, he says when pressed for one. But ‘less is more’ would describe him perfectly. He answers questions succinctly and to the point. What about his areas of expertise? Why did he decide to join us and what does he hope to achieve?

web-insights-oli-mihalache
  • Full Professor of International Entrepreneurship
  • Specialised in international entrepreneurship, digitalisation and enterprise families
  • Enjoys canoeing, kayaking and hiking

Global innovation, a double-edged sword

At the heart of Oli's research is international entrepreneurship, which looks at how entrepreneurs can take advantage of opportunities abroad to grow their businesses and gain a competitive edge.

He has undertaken several projects on global innovation. The question of whether going abroad helps or hinders innovation has been something of a hot topic, and the answer is not clear-cut. His findings suggest that while going abroad can help companies become more innovative, it can also pose a risk, as he explains: “On the one hand, it gives them access to knowledge they don't have at home and to a larger workforce, which allows them to expand their research activities. It also exposes them to new customers with different expectations and needs. All this can stimulate their innovation. On the other hand, there is a risk of overemphasising overseas initiatives and neglecting domestic ones. Companies may have access to various sources of knowledge from abroad. But they may find it difficult to integrate this knowledge.”

The impact of digitalisation

Oli’s work on international entrepreneurship branches out into two other areas, one of which is digitalisation. In today’s competitive environment, digitalisation is of paramount importance as many new business models are built around digital resources.

“My research on the impact of digitalisation on entrepreneurial strategies has revealed a significant shift from linear to more complex strategies. Entrepreneurs are increasingly developing and implementing strategies that involve dilemmas and seemingly incompatible strategic options. Successful entrepreneurs are those who can accept and embrace complexity and dilemmas in their organisations.”

Oli is also interested in digital platforms – in particular, how digital entrepreneurs can use these platforms to expand their businesses abroad. That's why he has conducted several research projects on internationalising mobile apps. “With mobile apps, you can easily go global”, he says. “As a mobile publisher, all you have to do is tick the boxes for the countries of your choice. But while it's easy to make an app available in multiple countries, it doesn't guarantee success in all of them. My preliminary findings suggest that there is a sweet spot in terms of success for mobile apps that internationalise: seven or eight countries. And there is another sweet spot once they gain momentum and expand to many locations, say over a hundred countries – that can also be a successful approach.” Oli is currently conducting research into how digital social enterprises can scale up by expanding internationally, but this is still a work in progress.

Enterprise families and social capital

His other area of research, building on international entrepreneurship, focuses on enterprise families - successful business families that have evolved into enterprise families because they share ownership of multiple assets, such as investments or real estate, and multiple entities, such as family businesses, family offices and/or family philanthropic foundations. Enterprise families also tend to have a transgenerational mindset, meaning that ownership is shared across several generations.

“I've found that the key to success across generations is not in their financial investments, but rather in the 'soft' elements, which have mainly to do with the development of internal social capital and the fostering of good relationships among family members. My research looks at the different governance structures and the learning that takes place in these families, particularly as the family grows and the number of generations increases, with family members becoming more geographically dispersed and no longer sharing the same experiences”, he says. And he adds: “Because internal social capital is a critical factor in the success of enterprise families, creating a sense of purpose is essential. As families move beyond the family business that once united them, they need to find other ways to stay connected. A social purpose that unites the family behind a particular social cause can be an effective way of achieving this.”

The call of academia

Before venturing into academia, Oli worked in finance, specialising in international banking regulation. Why did he decide to change direction?

“I gained valuable experience working for major financial institutions in Toronto, which gave me a first-hand understanding of the complexities of international business. But I’ve always had a passion for academia”, he replies. “What attracted me to the field was the opportunity to explore my curiosity about different topics and to conduct research. In finance, I focused on a relatively small part of the puzzle, one piece at a time. But in academia I have the flexibility to go as deep or as broad as I want. I can pursue my curiosity and learn about a wide range of topics.”

His eyes light up as he continues: “During the Covid-19 pandemic, for example, I became interested in how organisations can better support their employees in difficult times. This question is not directly related to what I usually think about or do. But being in academia allowed me to shift my focus to something new that I felt was relevant at the time. I ended up writing an article on the subject, which turned out to be my most widely read piece of work outside of academia. Quite a rewarding experience.”

Three good reasons

When asked why he joined us, Oli gives three reasons. First, “Vlerick has very high academic standards and a strong reputation for entrepreneurship education. It allows me to combine academic rigour with real-world application and education.” Second, he loved the opportunity to help shape the business leaders of the future: “Vlerick puts a lot of emphasis on leadership development and working with professionals, so teaching and mentoring at Vlerick gives me the chance to influence the next generation of entrepreneurs and business leaders.” And finally, he did it because it fits with his personal and professional goals. “I think it's good to keep challenging myself and putting myself in new situations. Contributing to a top business school offers new challenges and opportunities and, in a way, selfishly, helps me to broaden my academic horizons.”

Lots of plans

Oli brings his expertise in international entrepreneurship to add a global perspective to Vlerick's entrepreneurship research and education. He is excited to get started and has several ideas: “I want to create new courses on international entrepreneurship to encourage students to think globally about starting and running a business. I'm also planning to develop workshops for entrepreneurs who are expanding their businesses and going overseas. And I'm considering workshops for enterprise families and family offices, with a focus on developing social capital rather than financial investments.”

The great outdoors

Oli is a passionate researcher. When he's not working, you can find him outdoors. “I love to go canoeing, kayaking, and hiking”, he says. “I don't always get to do it as much as I'd like. But when I can, that's what I try to do.”

Profile 

  • Full Professor International Entrepreneurship at Vlerick Business School
  • Associate Professor of Digital Transformation at Athabasca University, Canada
  • Associate Professor of Global Strategy at Vrije Universiteit Amsterdam, the Netherlands
  • Assistant Professor of Strategic Management at Wilfrid Laurier University, Canada
  • Assistant Professor of Strategic Management at Vrije Universiteit Amsterdam, the Netherlands
  • Doctor in Strategy and International Business at Erasmus University Rotterdam, the Netherlands
  • Master in Strategic Management at Erasmus University Rotterdam, the Netherlands
  • Bachelor in Economics and Finance at the University of Toronto, Canada

Get in touch!

Oli Mihalache

Oli Mihalache

Professor of International Entrepreneurship