Browsing by Department "Johtamisen laitos"

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  • 21st century challenges: How to commit freelancers? The case of freelance journalists in the Finnish media industry
    (2020) Lyytikäinen, Salla
     School of Business | Master's thesis
    Freelancing has become popular all across the globe. This increased interest in freelancing has traditionally been explained by the changing world of work, and the occurring change of generations. In certain industries, such as the media industry, freelancers have already started to form the majority of the workforce. Thereby, for media industry organisations understanding the different wants and needs of freelancers is crucial, to ensure that their HRM policies consider freelancers, and thus, support their commitment to work. Indeed, committing freelancers to their work is key, as commitment has been proved to have multiple positive consequences for work performance. Although certain industries are dependent on the input of freelancers, freelancer’s commitment to work has rarely been the focus of research. More so, Finnish research on freelancers’, nor freelance journalists’ work-related commitment, is almost non-existent. This study is to answer this research gap by identifying freelance journalists’ experiences of work-related commitment, as well as the preconditions that affect their commitment to work. While doing so, the study increases general knowledge of the subject by providing academicians with a premise to continue the work from, and practitioners’ suggestions, on which to base the redesigning of their HRM policies. A qualitative research method is applied to obtain the purpose of this study. The data is gathered by conducting eleven semi-structured, thematic interviews. All interviewees were to fulfil the following two characteristics. Firstly, the interviewees had to work full-time as a freelance journalist, and secondly, they had to be employed by the Finnish media industry either currently or recently. Finally, the data is analysed with a thematic analysis method. The findings suggest that freelance journalists experienced three foci of commitment relevant to them in terms of work. Indeed, the notions of task commitment, commitment to the choice of employment, and organisational commitment were found affecting freelancers’ work behaviour. Task commitment, as well as organisational commitment, were recognized to have mostly performative outcomes, such as increased level of effort and dedication put to the job. Commitment to the profession was experienced to occur in the appearance of the freelancer. The factors found most crucial in terms of affecting these different foci of commitment, were found to be employers’ compensation, communication, and collaboration policies, together with appreciation. Based on this study, it can be concluded that despite the exceptional mobility of freelancers, freelancers experience work-related commitment. Indeed, this study implicates that the freelance journalists of this study felt committed towards such employers that implemented fair payment policies, clear and concise communication, fluent and reciprocal collaboration – and all the above by demonstrating appreciation throughout the process. Thus, by considering these aforementioned factors, employers can enable and strengthen their employed freelancers’ work-related commitment, and in return, collaborate with better performing freelance employees.
  • 360 asteen -arviointi ja parantuneet tulokset
    (2001) Harju, Miia
     School of Business | Master's thesis
  • 3D printing as an enabler for service business design in the digitizing healthcare
    (2015) Kinnunen, Juho
     School of Business | Master's thesis
    As a fast and ductile process, 3D printing (also known as additive manufacturing) is increasingly becoming more utilized method in manufacturing and service production. Despite the on-going 3D printing hype, recent breakthroughs set also high future expectations. Continuously digitizing healthcare industry offers an interesting and fertile ground to explore this opportunity further, and provide strategic value for Finnish healthcare service providers. How this emerging technology affects in healthcare service providers' business models has yet remained unexplored, and offers a great research gap for further study. The objective of this study is to understand how 3D printing impacts currently on service business models - specifically in healthcare sector. The objective is also to find out how Finnish healthcare service providers can exploit 3D printing as a part of their strategic business modeling now and in the future. A theoretical framework applies existing theories in 3D printing, business models and strategy. This framework enables empirical research, exploring the impacts of 3D printing in business models. The qualitative research uses both primary and secondary data, including semi-structured interviews, observations during company visits, as well as literature sources news articles, industry reviews and company websites. The results indicate that currently 3D printing impacts on business model components in general level as well as specifically in healthcare industry. To manage 3D printing successfully in the business model, high importance is given especially to additive manufacturing knowledge as well as to multidisciplinary collaboration. Based on findings, a seven-step model is suggested for Finnish healthcare service providers to explore and implement 3D printing as part of their capabilities. The model highlights the need for close collaboration between involved stakeholders in order to implement 3D printing as part of strategic business design efficiently and successfully. Finally, in the analysis, three main areas for additive manufacturing breakthroughs are emphasized and discussed. Namely software, materials, as well as health-tech and devices that not only improve but also transform service providers' processes seem to have currently great potential for future healthcare service business models.
  • Academic writing and dialogue: Reflections on the work of Janne Tienari
    (2016) Meriläinen, Susan (editor); Vaara, Eero (editor)
     School of Business | C2 Toimitettu kirja, kokoomateos, konferenssijulkaisu tai lehden erikoisnumero
  • Accelerating sustainability: How accelerator programs can support startups to develop more sustainable orientations
    (2024) Ikonen, Jenni
     School of Business | Master's thesis
    Startups are increasingly looked at to drive sustainable transitions across industries due to their innovation capabilities. Nevertheless, it has long been understood that innovation, not to mention accelerated growth, is not produced in siloes. Accelerator programs have a vital role in supporting the growth and development of startups through the services and networks that they can provide. This thesis explores how accelerator programs can not only support startups in scaling their venture, but also encourage them to develop in more sustainable orientations. This thesis consists of a qualitative research study with stakeholders from the Kiuas accelerator program from Helsinki, Finland. The ambition is to understand how startups without a specific focus on creating a social or environmental impact are developing to become more sustainable, which is why a regular startup accelerator was chosen. Through semi-structured interviews with startup founders, and accelerator program executives and mentors, this thesis explores the sustainability requirements that accelerator programs have for participants. In addition, the methods of supporting startups to develop in a more sustainable orientation are investigated. While various methods for supporting startup sustainability can be identified, at Kiuas, the primary focus of the accelerator program is on turning the business profitable. Sustainability support offered is general in nature. However, it was also found that accelerator programs can support startups in developing into more sustainable orientations when bespoke sustainability support is offered. This thesis also identifies methods for accelerator programs to provide sustainability support to participant startups pre-, mid-, and post-acceleration, as well as identifies the potential ambition of sustainability support at each phase.
  • The acceptance of telemedicine technology among medical doctors in Finland
    (2021) Mikkola, Ursula
     School of Business | Master's thesis
    Historically, healthcare has been seen as a slow adopter of new technology. Telemedicine services and its related technologies currently face significant changes and rapid expansion, partly due to the Covid-19 pandemic. It is generally accepted that the success of any new technology relies to a great extent on users’ satisfaction and satisfied medical doctors are therefore one of the key objectives of telemedicine service success. This quantitative study aims to determine which factors predict the adoption of telemedicine technology among medical doctors in Finland. It applies the telemedicine service acceptance model (TSA) which is based on the technology acceptance model (TAM) and has been previously validated in South Korea. In addition, this study evaluates the effects of Covid-19 pandemic on the medical doctors’ attitude towards telemedicine services. To test the hypotheses of the TSA model, an online survey was distributed to medical doctors in Finland. Non-probabilistic “snowballing” sampling technique was used and resulted in 185 responses. Structural equation modeling was applied to evaluate the causal relationships within the model. The results confirm the original TAM constructs: perceived ease of use & perceived usefulness are strong predictors of medical doctors’ behavioral intention to adopt telemedicine technology, and perceived ease of use is a predictor of perceived usefulness. Of the new predictive constructs in the TSA model, self-efficacy and accessibility of medical records were predictors of perceived ease of use, whereas accessibility of patients was a predictor of perceived usefulness. Perceived incentives were not found to be important concerning the intention to use telemedicine technology. Also, having had experience with telemedicine either before or during the Covid-19 pandemic and if the attitude towards telemedicine services had improved during the Covid-19 pandemic, they both predicted a higher behavioral intention to use telemedicine services in the future. This study contributes to the theoretical knowledge of technology acceptance by identifying important factors increasing the medical doctors’ acceptance of telemedicine technology. The results also indicate that the adoption of telemedicine services is likely to further accelerate due to the Covid-19 pandemic.
  • The acceptance of telemedicine technology among medical doctors in Finland
    (2021) Mikkola, Ursula
     School of Business | Master's thesis
    Historically, healthcare has been seen as a slow adopter of new technology. Telemedicine services and its related technologies currently face significant changes and rapid expansion, partly due to the Covid-19 pandemic. It is generally accepted that the success of any new technology relies to a great extent on users’ satisfaction and satisfied medical doctors are therefore one of the key objectives of telemedicine service success. This quantitative study aims to determine which factors predict the adoption of telemedicine technology among medical doctors in Finland. It applies the telemedicine service acceptance model (TSA) which is based on the technology acceptance model (TAM) and has been previously validated in South Korea. In addition, this study evaluates the effects of Covid-19 pandemic on the medical doctors’ attitude towards telemedicine services. To test the hypotheses of the TSA model, an online survey was distributed to medical doctors in Finland. Non-probabilistic “snowballing” sampling technique was used and resulted in 185 responses. Structural equation modeling was applied to evaluate the causal relationships within the model. The results confirm the original TAM constructs: perceived ease of use & perceived usefulness are strong predictors of medical doctors’ behavioral intention to adopt telemedicine technology, and perceived ease of use is a predictor of perceived usefulness. Of the new predictive constructs in the TSA model, self-efficacy and accessibility of medical records were predictors of perceived ease of use, whereas accessibility of patients was a predictor of perceived usefulness. Perceived incentives were not found to be important concerning the intention to use telemedicine technology. Also, having had experience with telemedicine either before or during the Covid-19 pandemic and if the attitude towards telemedicine services had improved during the Covid-19 pandemic, they both predicted a higher behavioral intention to use telemedicine services in the future. This study contributes to the theoretical knowledge of technology acceptance by identifying important factors increasing the medical doctors’ acceptance of telemedicine technology. The results also indicate that the adoption of telemedicine services is likely to further accelerate due to the Covid-19 pandemic.
  • Accommodation choice factors and the perception of summer cottage among Vietnamese travelers
    (2020) Dinh Nhat, Minh
     School of Business | Master's thesis
    Recently, Vietnam has witnessed an uprising trend in popularity of ecotourism and several new types of accommodation. Summer cottage, a popular type of lodging in Finland, can be considered an ecotourism accommodation but has not arrived to Vietnam. A better understanding of Vietnamese travelers’ perceptions and interest level towards this concept is vital for hospitality entrepreneurs to consider the feasibility of bringing this concept from Finland to Vietnam. The primary goals of this study are to (1) find the key factors that significantly affect Vietnamese travelers’ choice of accommodation, (2) define the difference segments of Vietnamese travelers and their typical characteristics, (3) assess the perception and opinions of Vietnamese travelers towards the summer cottage concept, and (4) identify the most important and valued services or facilities that are required to have in a summer cottage to be appreciated by Vietnamese travelers. The empirical part of the research consists of a questionnaire that was distributed only and received valid 220 responses in total. To identify importance different factors affecting accommodation choice and segments of customers, 35 items were compiled from different literature and asked in three questions of the survey. Exploratory factor analysis performed on the first 13 items about criteria affecting accommodation choice revealed that, for Vietnamese travelers, there are three main factor group called: Security, Staff, Comfort; Reputation, Style, Location; and Expenditure. Further analysis shown that different demographic characteristics significantly affect the importance level that Vietnamese travelers place on each of those factors. Furthermore, to classify travelers into different segments, cluster analysis was performed based on respondents’ responses to the importance of remaining 22 items about services, facilities and activities offered in an accommodation. Three different segments of travelers were identified. Combining three choice factors and three segments of travelers, the result revealed that there is significant difference between segments in their criteria when choosing an accommodation. The first segment, demanding travelers, has highest demand for all accommodation features and factors. The second group, average travelers, has the least demand overall while being less price-sensitive than the other two groups. The last group, budget travelers, consists of mostly young and lower-than-average income people. This group is price-sensitive and only value accommodation basic features. Lastly, correlation matrix analyses and three separate regression analyses were performed to measure the relationship between three choice factors, preferences to summer cottage attributes and demographic characteristics, with awareness, intention to try and willing price level of travelers for summer cottage concept. While the models were not reliable and unsuitable to use to predict outcome, it highlighted the significant effect that Security, Staff, Comfort factor and travelers’ appreciation level of summer cottage attributes have on their awareness of the concept. The level of concern travelers has on expenditure factor also significantly influence their willingness to pay more for staying in the summer cottage. Based on these results, hospitality entrepreneurs need to pay close attention to price and fundamental lodging factors of the accommodation if they want to successfully bring the summer cottage to Vietnamese market.
  • Achieving an ambidextrous strategy process – case study in an MNC
    (2021) Kangas, Olli
     School of Business | Master's thesis
    This thesis studies ambidextrous strategy management process as a solution for modern managers’ challenge of simultaneously strengthening competitiveness of existing business and exploring new opportunities in an increasingly competitive, diverse, and dynamic business environment. Furthermore, it explores the different approaches to strategy-making and strengthened ambidexterity in corporations by analyzing the role of the corporate strategy management in managing, coordinating, and enabling separate businesses in pursuing their individual strategies. To study the topic, I carry out a literature review exploring four different sub-themes: overall challenges with ambidexterity, strategy-making in large corporations, different organizational roles in corporate strategy management and finally how environment dictates the best strategy process. The analysis suggests that managing ambidexterity boils down to managerial capability and that it is up to the managers to choose the right balance of exploration and exploitation, autonomy and control, and diversity and integration in the strategy process. Additionally, to increase ambidexterity, management needs to understand the different market dynamics affecting individual businesses and to implement the right strategy process styles and techniques such as cross-organizational channels and role setting accordingly. The case study findings support the analysis and highlight the important role of the corporate strategy management in enabling the organization to achieve an ambidextrous strategy process. The findings also underline the importance of not only determining a clear objective or “role to play” for each business, but also clearly negotiating in dialogue the key means available for them or the “how to play”.
  • Acquisition process: The banker's perspective
    (2013) Daoud, Ben
     School of Business | Master's thesis
    Tutkimuksen tavoitteet Tässä tutkimuksessa käsittelen yritysostoja suomalaisten pankkiirien näkökulmasta. Tutkimuksen tarkoituksena on lisätä ymmärrystä niistä asioista, jotka ovat tärkeitä pankille määrittäessä yritysoston rahoittamisen järkevyyttä pankin näkökulmasta. Tutkimuskysymys selvittää niitä kriteereitä, joita pankki pitää tärkeänä yritysostojen menestystä arvioidessaan. Tutkimuksen tavoitteena on selvittää ja syventää tietämystä pankin prosesseista rahoittaessaan yritysostoja sekä keskittyä yritysostojen arviointiin pankin näkökulmasta. Tutkimusmenetelmät Pankin ydinosaamista ovat erilaiset lainat ja tässä tutkimuksessa on haastateltu pankin asiantuntijoita, jotka ovat erikoistuneet yritysostojen rahoittamiseen. Yritysostot ovat hyvin laaja kokonaisuus ja tästä syystä tutkimuskysymystä on lähestytty kahden erillisen teeman kautta. Ensimmäinen teema on pankin prosessi ja toinen teema on yritysoston sopimukset. Tässä tutkimuksessa on syvennytty pankin prosessiin ja otettu yritysostojen sopimukset tätä teemaa kattavaksi teemaksi johtuen siitä, ettei haastateltavat olleet yritysostojen lakiasioiden asiantuntijoita. Tiedonhankinnan tapana on tässä laadullisessa tutkimuksessa käytetty teemahaastattelua. Keskeiset tutkimustulokset Pankki pitää tärkeänä selkeyttä, aikaisuutta, kattavien laskelmien tuottamista, logiikkaa yritysoston taustalla, kiireettömyyttä, avainhenkilöstön sitouttamista, avainasiakkaiden ja avaintuottajien sopimuksellista kiinnittämistä, riidattomuutta, ylimääräistä riskittömyyttä, hyvää dokumentointia, hyviä takuita, ja veroetujen hyödyntämistä, sekä tulevien mahdollisten ongelmien kartoittamista ja sopimuksilla suojautumista niiltä.
  • Adaptation of corporate brand development models in the SME context
    (2015) Lebedev, Dmitry
     School of Business | Master's thesis
    Corporate brand development within the context of small and medium-sized enterprises (SMEs) is a phenomenon that has been largely understudied in the academic literature on both entrepreneur-ship and marketing. Modern theoretical brand development models are mainly based on the ex-amples of large corporations and are not entirely suitable for the application by the smaller compa-nies. The current thesis uncovers the apparent theoretical gap that has emerged and answers the question of how exactly can the existing brand development models be adapted in the SME con-text. In order to form a theoretical basis of the thesis, four such models were thoroughly analyzed and compared to one another. Further, the context of SMEs was preliminary examined to highlight the particularities of brand building approaches of SMEs and their larger counterparts. Examination showed considerable differences between brand building tactics, based on the size of the company and its available resources. This allowed projecting the characteristics of an SME on to the main components of the theoretical models, thus forming a proposition for a revised framework. Then, a data collection in a form of an extensive review of multiple case studies has been carried out in order to empirically investigate the issues of corporate brand building in SMEs. 26 academic arti-cles were reviewed uncovering the results of the studies of 1782 SMEs from 11 countries. Results of the analysis allowed forming an updated version of corporate brand development framework for SMEs that was especially created to suit the needs of an SME. Research findings have indicated significant differences between SMEs and large organizations, especially in the ways their brands are developed. Numerous benefits of early brand orientation in SMEs have been indicated. The central role of the entrepreneur in the process of the SME corpo-rate brand building as well as the importance of internal communication has been emphasized. Most importantly, the contemporary theoretical brand development models have been adapted in the SME context by means of a new corporate brand development framework for SMEs.
  • Addressing unconscious biases in recruitment: perceptions of Nordic recruiters
    (2024) Nord, Sandra
     School of Business | Master's thesis
    This thesis investigated recruiters' experiences with unconscious biases in the recruitment process, focusing on their prevalence, the strategies used to address them, and associated challenges. A qualitative interview study was conducted with professional recruiters to explore these issues in depth. The findings reveal that unconscious biases are pervasive, impacting recruitment decisions at many stages. Discrimination can happen based on factors such as gender, age, and ethnicity. While organizations employ several practical strategies, such as unconscious bias training, structured interviews, and blind screening, the effectiveness of these measures often depends on broader organizational commitment to diversity, equity, and inclusion. Moreover, the findings emphasize that to address unconscious biases, recruiters and organizations must foster a culture of awareness and accountability. Without a genuine will to address biases, efforts such as unconscious bias training may be ineffective.
  • Adjustment of foreign workers’ spouses: the factors influencing satisfaction and adjustment of foreign workers’ spouses in Finland
    (2016) Vainikka, Minna
     School of Business | Master's thesis
    This Master’s thesis investigates the factors that influence the cross-cultural adjustment of foreign workers’ spouses in Finland. Since most organizations today operate in a global economy, an increasing number of people move away from their home country to work in another country, and many expatriates are accompanied by a spouse. Adapting to a new living environment can be challenging, and failure to adjust has negative consequences to foreign workers, their families and to the companies they work for. Previous research provides evidence that family has the greatest influence on the adaptation of expatriates in a new environment and that inability of the spouse to adapt is the most common reason for international assignment to fail. The objective of this study is to examine the factors that influence the adjustment and satisfaction of foreign workers’ spouses. Further aim is to complement earlier research by investigating the ways the spouse’s experiences and feelings affect the employee on an international assignment. Both positive and negative impact is considered. Finally, this research aims at identifying the forms of support organizations can provide to improve the adjustment and satisfaction of spouses. This study uses qualitative approach with focus group discussions and semi-structured individual interviews as data collection techniques. For the purpose of this research, 17 expatriate spouses currently living in Finland due to their partner’s job were interviewed either in focus group discussions or individually. In addition, three foreign workers were interviewed either at the same time with their spouse or separately. The families were of different nationalities and had different backgrounds, but all had arrived in Finland within approximately four years. All collected data was coded and analyzed using thematic analysis. The main findings of this study show that personal and relational factors strongly affect the ability to adjust to a new environment. Open attitude and involvement in social activities are key enablers of the spouses’ successful adaptation, whereas difficulties in social life and in establishing friendships have the strongest negative impact on expatriate families’ adjustment. Further, according to this research a happy and well-adapted spouse improves the expatriate’s performance at work and supports the worker in interactional adjustment by facilitating social activities. In addition to family members, organizations can provide essential support in adaptation to a new environment. This study concludes that all forms of organizational support such as assistance in immigration and finding a home are valuable and influence the individual’s perception of how much the organization values them. Particularly a personal destination consultant is a key enabler of successful adaptation and a central contributor to the individual’s perceived feeling of being cared for. The most evident shortcomings of current forms of support are related to career assistance for spouses and help in getting involved in social activities.
  • Adoption and outcomes of the family-friendly workplace certificate – A qualitative study of Finnish organizations
    (2023) Havia, Katri
     School of Business | Master's thesis
    The objective of this thesis is to explore why Finnish organizations have adopted the Väestöliitto Family-Friendly Workplace Certificate and how they perceive its outcomes. This study adds to the scarce and mostly quantitative literature on why family-friendly practices are adopted by organizations. Additionally, expectations are rarely set side by side with outcomes. This study took a qualitative approach and semi-structured interviews were conducted with seven organizations that hold the certificate. The data was analysed by thematic analysis. Five main themes were found. The themes caring as competitive advantage, authenticity, and organizational fit represent the adoption of the certificate. The themes enhanced employer image and content over visibility describe the main outcomes experienced to arise from holding the certificate. The findings of this study indicate that the participating organizations share fundamental characteristics, such as a genuine desire to implement family-friendliness. The content of the certificate was valued over its marketing value. They also aimed at achieving a competitive advantage with the certificate and experienced that it had positively impacted their employer image. To conclude, the participating organizations perceived that the certificate had enabled them to achieve what they had expected from it.
  • Advancing portfolio management with AI
    (2024) Göcsei, Gergő
     School of Business | Master's thesis
    This thesis explores the development of an AI-powered portfolio management tool utilizing ChatGPT. The research adopts a case study approach, following the principles of Design Science Research (DSR) methodology, to address the challenges faced in managing diverse financial assets. The study includes a comprehensive literature review on the intersection of artificial intelligence and financial portfolio management, emphasizing recent advancements in machine learning and language models. Based on the findings, a tailored tool was developed to automate data integration, performance tracking, and decision-making support. The results demonstrate that AI-based solutions can enhance the efficiency and accuracy of portfolio management processes, providing actionable insights and reducing manual workload. The thesis concludes with recommendations for integrating AI into financial workflows and considerations for future enhancements.
  • Affective Organizational Space: An Ethnographic Study of a Nordic Startup Incubator
    (2020) Kuismin, Ari
     School of Business | Doctoral dissertation (article-based)
    This dissertation examines the relationship between space and organizing practices. It argues that developing a better understanding of this relationship requires studying the affective quality of space, namely the potential of space to generate affective responses in the people who encounter it and to increase or decrease people's bodily capacity to act. Building on an ethnographic study of a Nordic startup incubator, the dissertation focuses on how the affective quality of a collaborative workspace emerges and influences participants' capacity to engage with the day-to-day practices of the incubator. The findings are reported in four papers. The first paper lays the groundwork for the empirical chapters by examining the existing literature on organizational space. It shows how authors have recently theorized space as a processual and constitutive part of organizations and organizing. The paper identifies five different process orientations and four key constructs that underpin knowledge creation regarding organizational space. The second paper develops a concept of affecto-rhythmic order to capture how rhythms and affects interrelate in the flow of spatial organizational practices. The paper demonstrates how incubator participants learn and embody a contextual affecto-rhythmic order of "upbeat" and how this enhances their capacity to engage with the incubator practices. The third paper explores how the affective quality of a collaborative workspace emerges and develops over a period of three years. It highlights how the affective space creates possibilities to problematize dominant (masculine, controlled, rational) modes of being but also fosters tendencies towards their reproduction. The study highlights how the affective quality of organizational space may produce unintended consequences at any given moment. The fourth paper studies the types of ethnographic approaches employed in organizational space research. It identifies three types of approaches, shows how they privilege different forms of space, and highlights their tendency towards representational epistemology. Against this background, it illustrates how affective ethnography can help organizational space researchers move towards more-than-representational analysis of space and affect. The dissertation makes three main contributions to organizational research. It (1) theorizes and empirically shows how the affective quality of organizational space emerges and contributes to power and politics in organizing, (2) demonstrates how different forms of process theorizing can advance the understanding of organizational space, and (3) illustrates and further develops affective ethnography as a research approach to organizational studies.
  • Ageing and entrepreneurial preferences
    (2014) Kautonen, Teemu; Down, Simon; Minniti, Maria
     School of Business | A1 Alkuperäisartikkeli tieteellisessä aikakauslehdessä
    Previous research on age and entrepreneurship assumed homogeneity and downplayed age-related differences in the motives and aims underlying enterprising behaviour. We argue that the heterogeneity of entrepreneurship influences how the level of entrepreneurial activity varies with age. Using a sample of 2566 respondents from 27 European countries we show that entrepreneurial activity increases almost linearly with age for individuals who prefer to only employ themselves (self-employers), whereas it increases up to a critical threshold age (late 40s) and decreases thereafter for those who aspire to hire workers (owner-managers). Age has a considerably smaller effect on entrepreneurial behaviour for those who do not prefer self-employment but are pushed into it by lack of alternative employment opportunities (reluctant entrepreneurs). Our results question the conventional wisdom that entrepreneurial activity declines with age and suggest that effective responses to demographic changes require policy makers to pay close attention to the heterogeneity of entrepreneurial preferences.