Entrepreneurial metacognition: a study on nascent entrepreneurs

This paper contributes to uncovering the role of metacognition in the decision-making process of entrepreneurs. Specifically, we analyze nascent entrepreneurs in their process of start-up development while relying on metacognitive processes. The experiences of a sample of new venture initiatives are explored in two distinct phases, a start-up competition and the subsequent launch of their venture. Following the Gioia protocol, the study contextualizes the process in which social capital reinforces metacognitive processes. This process stimulates nascent entrepreneurs to consider alternatives, such as extending expertise outside the start-up. Moreover, we find that these processes support entrepreneurs and their teams in improving their decision-making processes. The findings support that nascent entrepreneurs rely heavily on the input of others in their start-up creation process, and contribute to new empirical insights about entrepreneurial metacognition. A dynamic model in which these relationships emerge is developed. The study’s results contribute to a better understanding of the antecedents and consequences of metacognitive processes in nascent entrepreneurship.

     

The influence of entrepreneurs’ social referents on start-up size

This paper uses social comparison theory to explore the effect that the average size of established businesses at the regional (provincial) level may have on start-up size. It is argued that established entrepreneurs at the regional level become referents of new entrepreneurs, influencing not only the decision to become entrepreneurs but also the characteristics of the new venture, such as its initial size. Specifically, the greater the average size of established businesses at the provincial level, the bigger the start-up size of new ventures. This paper further considers how this effect is moderated by two key individual level variables: knowing an entrepreneur personally (i.e., close social referent), and being the owner and manager of an existing business (i.e., past entrepreneurial and managerial experience). Predictions are tested using data that combine individual- and provincial-level information in Spain over the period 2008–2014. The results show the positive relationship of the average size of established businesses on new venture start-up size, and that this effect decreases when the entrepreneurs have previous entrepreneurial experience.     

Exploring creative entrepreneurs’ happiness: cognitive style,guanxi and creativity

Traditional economic theories generally assume that entrepreneurs’ satisfaction is largely affected by financial performance of their entrepreneurial business, while recent research suggests that entrepreneurs’ happiness is more important than financial success. Drawing upon the theories of entrepreneurial cognition and social networks, we develop a model to explore the factors influencing entrepreneurs’ happiness. A total of 270 creative entrepreneurs in Taiwan’s creative industries are studied. Results show that entrepreneurs’ creating cognitive style has a positive effect on both entrepreneurs’ creativity and firm creativity, but entrepreneurs’ planning cognitive style has a negative effect. Findings indicate that entrepreneurs with strong family ties and business ties have high level of individual creativity and firm creativity, which then have a positive influence on entrepreneurs’ happiness.     

The price of success: balancing the effects of entrepreneurial commitment,work-family conflict and emotional exhaustion on job satisfaction

This research explores job satisfaction among entrepreneurs to investigate two paths from entrepreneurial commitment to job satisfaction: the direct path and the family path that includes work-family conflict and emotional exhaustion. An empirical study of 232 small and micro firm business owners are used to test the hypotheses seeking to understand which path to job satisfaction has the greatest influence. The results indicate that although being committed to one’s own business increases job satisfaction, emotional exhaustion takes a greater toll. We conclude that negative aspects of entrepreneurship exert an important influence on entrepreneurs’ satisfaction with their job. These findings offer important theoretical and practical implications.

     

Entrepreneurs’ networks and the success of start-ups

The network success hypothesis assumes a positive relation between the networking activities of founders and their start-up’s success. The rationale behind this hypothesis is the theory of socially embedded ties that allow entrepreneurs to get resources cheaper than they could be obtained on markets and to secure resources that would not be available on markets at all, e.g. reputation, customer contacts, etc.

This paper clarifies how entrepreneurial network activities can be measured and which indicators exist to quantify start-up success. It then reviews empirical studies on the network success hypothesis. The studies have rarely come up with significant results. This surprising evidence can be explained by large differences in the way that the dependent and the independent variables were defined and by effects of unobserved variables such as the networking expertise of the founders and the entrepreneurs’ level of existing know-how in the areas of co-operation and networking (‘absorptive capacity’). The major shortcomings of existing network studies are found to be the neglect of different starting conditions, the focus on individual founders’ networks instead of multiple networks in start-ups with an entrepreneurial team, and the assumption of a linear causal relation between networking and start-up success. Accordingly, the paper develops a new, extended model for the relation between entrepreneurial networks and start-up success. Finally, we make some suggestions for the further development of entrepreneurial network theory.     

创业拼凑与机会开发过程模型--基于大学生创业的单案例分析

在"双创"教育的指引下,越来越多的大学生投身到创业活动之中,如何提高大学生创业存活率成为理论界与实践界关注的焦点。本文以一家大学生新创企业为例,采用纵向案例研究构建了大学生创业情境下"机会-资源一体化"过程模型,揭示了大学生新创企业利用创业拼凑进行机会开发的微观机制。研究发现在探索期,新创企业以资源为导向,采用物质拼凑和技能拼凑,实现"发现型机会"的开发;在稳定期,新创企业以机会为导向,采用网络拼凑和技能拼凑,实现"发现+创造型"机会的开发;在发展期,新创企业以顾客为导向,采用客户拼凑和技能拼凑,实现"创造型机会"的开发。研究结果可为揭示创业拼凑内部机理的形成提供方向,也可为从校园走出的大学生新创企业利用手边资源、开发有潜力的创业机会、实现企业可持续发展提供有益的借鉴和启示。     

Enhancing female entrepreneurship by enabling access to skills

Literature reveals the need for entrepreneurship training programmes that focus on the skills required by female entrepreneurs. The purpose of this paper is to introduce the Women Entrepreneurship Programme (WEP) as an initiative to provide entrepreneurial and business skills to female entrepreneurs. An experimental group of 116 women attended this training intervention whereas 64 women formed the control group who did not attend the WEP. The findings highlight that through the WEP the experimental group gained new skills and knowledge relevant to running a business; increased their confidence in their entrepreneurial abilities; and used these skills to start new ventures.     

Aspiring,nascent and fledgling entrepreneurs: an investigation of the business start-up process

This study focuses on three different milestones in the business gestation process, i.e. becoming an aspiring entrepreneur, a nascent entrepreneur, and a founder of a fledgling new business. Moreover, this study uses a combination of both individual and regional (or environmental) factors in predicting individuals’ success or failure to reach each of these three milestones. Hypotheses are developed to test the effect that human and environmental resources have on the odds of reaching the different milestones in the business start-up process. The study is based on interviews of a representative sample of 9533 Norwegians aged 18 years or older. From this group, 197 respondents qualified as nascent entrepreneurs. These were subsequently interviewed in follow-up interviews conducted in 1996, 1997 and 1999. In addition, regional data at the municipality level is included to measure the available pool of environmental resources. The results indicate that entrepreneurial experience is the single most important factor for predicting the outcome of the business start-up process. Even though environmental resources play a role, human resources are generally found to be better predictors of the outcome of the business start-up process. Several important implications for policy-makers are presented.     

Entrepreneurial financing in new business ventures: a help-seeking behavior perspective

How and from whom prospective entrepreneurs seek their start-up capital for new venture formation represent fundamental questions in entrepreneurial financing. Drawing on research of help-seeking behavior, we propose that apart from economic rationale entrepreneurs’ decisions to seek financing may be influenced by socio-psychological factors. Using a scenario experiment (venture risk x relational proximity) to investigate how prospective entrepreneurs considered funding from family and outsiders, it was found that they tended to seek family financing when the family was close and the risk was high, and inclined to seek outsider funding when the venture risk was high and the family was not close. The findings might seem paradoxical but they actually underscore the influence of socio-psychological factors in entrepreneurial financing decisions and offer novel contributions to the entrepreneurship, informal investment, and education literatures.     

工作嵌入对知识型员工离职创业过程的影响研究

知识型员工离职创业已成为高新技术产业发展的新特点,其工作经历在离职创业过程中发挥重要作用。工作嵌入描述个体与工作或工作外的环境产生各种联系,并影响个体的行为和决策过程。以工作嵌入为研究视角,深入揭示工作经历、社会资本的"嵌入性"对知识型员工离职创业过程的影响机理。创业者通过工作经历"嵌入"能够积聚知识和资源,同时要注意工作嵌入给创业过程带来的局限。     

What entrepreneurs discover when creating opportunities? Insights from Skype and YouTube ventures

Although the scholarly conversation about how entrepreneurial opportunities emerge has suggested that entrepreneurs both discover and create opportunity components, specific knowledge about what components are discovered is lacking. In this research, we use an exploratory case study to investigate the opportunity creation process. We found that entrepreneurs discover several opportunity-related components based on the prior experience and knowledge of other entrepreneurs. Drawing on the evidence from these exploratory cases, we identify three important types of components that entrepreneurs creatively recombine within an emerging opportunity: technology stack, business model, and product and service design architecture. These findings have important implications for our understanding of entrepreneurial bricolage and entrepreneurial recycling, and their connection to the process of opportunity creation.     

企业家人力资本研究

论述企业家人力资本的特性:缺乏程式性、全面性重于专业性、边界不确定性和产权不可直接界定与不可交易性;着重研究在企业家人力资本特性下的积累及其棘轮效应,这种效应包含在企业家人力资本积累的起点、过程和退出环节,相对于其他人力资本,企业家人力资本棘轮效应使得企业家人力资本投资风险尤其明显;进而分析企业家劳动的复杂性如何使得企业家劳动定价只能通过企业价值剩余来衡量,并说明合理计算企业价值剩余需要依赖于较为完善的要素市场;最后就创业与企业家培育提出相关建议。     

Unlocking the influence of family business exposure on entrepreneurial intentions

Although the impact of family business exposure on offspring’s entrepreneurial intentions has attracted significant attention, assessments of this impact remain inconsistent. To solve this puzzle, we switch the focus from the presence of family business exposure to the content of exposure by examining the learning experiences of business family offspring. Specifically, we test the impact of perceived parental entrepreneurial rewards on entrepreneurial intentions and explore the underlying process in this relationship. Findings from a sample of 131 Chinese business family offspring support that perceived parental entrepreneurial rewards are positively related to entrepreneurial intentions, and this relationship is found to be partially mediated by entrepreneurial self-efficacy; additionally, offspring’s family business involvement weakens the positive impact of perceived parental entrepreneurial rewards on entrepreneurial intentions but strengthens the impact of entrepreneurial self-efficacy. The findings from this research contribute to the social cognitive career theory, family business, and entrepreneurial cognition literature. We also provide practical guidance for parent entrepreneurs by clarifying the impact of perceived parental entrepreneurial rewards and family business involvement on their children’s entrepreneurial intentions.     

To be entrepreneurial,or not to be entrepreneurial? Explaining differences in franchisee entrepreneurial behavior within a franchise system

Although franchising scholars largely acknowledge that franchisees may behave like entrepreneurs, little is known about whether and why franchisees differ in their entrepreneurial behaviors. Franchisees are semi-autonomous entrepreneurs running geographically dispersed units within established organizations. We therefore use corporate entrepreneurship (CE) literature to define and measure franchisee entrepreneurial behavior, and we build on an entrepreneurial motivation framework to develop an integrative set of hypotheses that explain differences in franchisee entrepreneurial behavior. We test these hypotheses using survey data on 119 franchisees within a single Dutch franchise system. Our results show that the extent of franchisee entrepreneurial behavior varies considerably, even within a single franchise system. The differences in franchisees’ entrepreneurial behaviors can be explained by differences in franchisees’ intrinsic goals, relational satisfaction and local competition.     

Full circle support: unpacking the relationship between women entrepreneurs’ family-to-work support and work interference with family

With an anchoring in conservation of resources theory, this study examines the mediating role of women entrepreneurs’ work-related emotional exhaustion in the relationship between their family-to-business support and work interference with family, as well as the moderating role of the entrepreneurial character of their company’s strategy in this process. Survey data collected from women entrepreneurs in Argentina indicate that a notable reason that business support received from the family diminishes work interference with that same family is that it abates the sense of being overburdened by work. This benefit of reduced exhaustion is especially prominent to the extent that women entrepreneurs pursue an energy-consuming, entrepreneurial strategy for their business. For entrepreneurship scholars and practitioners, this research accordingly reveals a critical channel through which supportive family relationships can decrease the probability that women entrepreneurs bring work challenges home (i.e., diminished depletion of work energy), and it shows how this explanatory factor varies with the strategic profile they adopt for their business.

     

Special issue on “The role of networks in entrepreneurial performance: new answers to old questions?”

The nature and extent of relationships between entrepreneurial networks and entrepreneurial performance are old questions. Scholars have explored the nature of entrepreneurial networks and have focused on their relationship with, and effects on, performance, which is viewed in this special issue in terms of the strategic development of established businesses and new ventures. However, while much is now known about the origins and effects of social networks there continues to a paucity of research on how social networks are used in various organizations, and when one or more networks are drawn upon for what specific purpose. Each article in this special issue addresses one or more of these questions in a range of industries and environments, namely poor village entrepreneurs who have to work in a highly challenging financial and social environment in Bangladesh, “early internationalizing small firms” in South Africa, high technology “early-stage ventures” in Hong Kong, 3-D technology ventures that operate with an “open” business model, and the “multi-rational” nature of networks in family businesses in and beyond the UK. In all, this collection of papers comprises a body of scholarship with fine-grained studies on how and when specific social networks are drawn on in various forms of organization. The subsequent discussion of these issues extends knowledge of the various ways in which entrepreneurs and entrepreneurial businesses advance their interests by leveraging familiar business and social networks.     

Entrepreneurial learning from observing role models

Abstract

This study examines entrepreneurial learning through the observation of role models. Adopting an interpretive and inductive approach, and using biographical interviews and life course techniques, the article examines how sixteen entrepreneurs articulate their entrepreneurial learning from role models. The overarching research question ‘How do entrepreneurs learn from observing role models?’ enables illustrating who the role models are (parents, teachers, colleagues, other entrepreneurs), the relevant social contexts (home, education, workplace) and what is learned in relation to entrepreneurial learning tasks (learning about oneself, managing relationships, the business and small business management). The study contributes to developing the social perspectives of entrepreneurial learning by demonstrating the significance of learning from role models in different social contexts and at distinct entrepreneurial stages pre- and post-start-up.     

Sense and sensibility: The role of business incubator client advisors in assisting high-technology entrepreneurs to make sense of investment readiness status

For high-technology entrepreneurs, attaining an appropriate level of investment to support new ventures is challenging as substantial investment is usually required prior to revenue generation. Consequently, entrepreneurs must present their firms as investment ready in the context of an uncertain market response and an absence of any trading history. Gaining tenancy within a business incubator can be advantageous to this process given that placement enhances entrepreneurial contact with potential investors whilst professional client advisors (CAs) use their expertise to assist in the development of a credible business plan. However, for the investment proposal to be successful, it must make sense to fund managers despite their lack of technological expertise and product knowledge. Thus, this article explores how incubator CAs and entrepreneurs act in concert to mould innovative ideas into plausible business plans that make sense to venture fund investors. To illustrate this process, we draw upon empirical evidence which suggests that CAs act as sense makers between venture fund managers (VFMs) and high-technology entrepreneurs, yet their role and influence appears undervalued. These findings have implications for entrepreneurial access to much needed funding and also for the identification of investment opportunities for VFMs.     

Clustering of Angolan entrepreneurs: an analysis of their entrepreneurial posture

This paper aims to contribute to the debate concerning whether entrepreneurial posture (consisting of innovativeness, risk taking, proactiveness, competitive aggressiveness, and internal locus of control) is a unidimensional or multidimensional construct. Furthermore, it identifies the profile of Angolan entrepreneurs in terms of their entrepreneurial attitude, and investigates how this profile enhances business performance. The findings suggest that entrepreneurial posture is a multidimensional construct. However, they also suggest that the three entrepreneurial clusters behave differently. Implications for Government and decision-makers, and suggestions for future research are given in the concluding section.     

Collectively created opportunities in emerging ecosystems: The case of solar service ventures

This study suggests that in the entrepreneurial communities of emerging industries, individual entrepreneurs may simultaneously create opportunities that spill over to others and discover opportunities already created by others. Extant opportunity literature, focused on single actors and their personal networks or on the information function of market prices, is largely mute on the role of opportunities in value networks with distributed entrepreneurial efforts. Ecosystem theory, a literature stream that seldom intersects opportunity literature, contributes with a conceptual framework to study the question. The paper seeks to shed light on how opportunities are created or discovered by new ventures as they are involved in the interlinked endeavor of forming a new ecosystem.The study examines five case studies of US ventures in the early phase of the solar service industry, an industry in which entrepreneurs offer customers access to solar panels as a service rather than as a product. These ventures inadvertently created an industry ecosystem together, as they could not protect the value created by their business partners׳ new knowledge, or by the emerging social webs between partners. They shaped opportunities together, passing value back and forth amongst themselves. This paper offers fundamental observations on how opportunity creation and discovery is distributed among a community of entrepreneurs as a business ecosystem grows.