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The entrepreneurial process: Evidence from a nationally representative survey
Research Summary: Scholars have traditionally characterized the variation in firm performance as determined by conditions after entry, where the entry decision is a one-shot binary choice determined by cost–benefit analysis. However, recent theoretical work has posited that the entry decision is an outcome of a learning process and that the information acquired during the pre-entry period shapes subsequent performance dynamics. We provide the first systematic data on the pre-entry period using a nationally representative survey. We document the activities that prospective entrants undertake, finding variation according to opportunity costs, prior experience, and confidence levels. Our results suggest the pre-entry period is shaped by a series of choices by prospective entrants as they contemplate entry, further exploration, or ending the entrepreneurial process.
Managerial Summary: We created and implemented a nationally representative survey on the entrepreneurial activities of Americans. Several interesting findings emerged. First, approximately a third of Americans report having had a business idea in the past 5 years, motivated in the vast majority of cases by lifestyle concerns rather than the pursuit of significant business opportunities. Fewer than half of those who considered starting a business take even the lowest cost steps, like searching the Internet for potential competitors or speaking with a friend. Our findings reveal an entrepreneurial process which involves a significant pre-entry period where prospective entrepreneurs seek to acquire information about the quality of their idea, perform administrative tasks to prepare for launch and encounter frictions that impede their progress.
Ketersediaan
| Call Number | Location | Available |
|---|---|---|
| SMJ4401 | PSB lt.2 - Karya Akhir (Majalah) | 1 |
| Penerbit | USA: Strategic Management Society 2023 |
|---|---|
| Edisi | Vol. 44 Issue 1, Jan 2023 |
| Subjek | Entrepreneurship Learning entry Entrepreneurial strategy Survey methods |
| ISBN/ISSN | 1097-0266 |
| Klasifikasi | NONE |
| Deskripsi Fisik | 365 p. |
| Info Detail Spesifik | Strategic Management Journal |
| Other Version/Related | Tidak tersedia versi lain |
| Lampiran Berkas |