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Although dozens of empirical studies have been published on effectuation as a whole, much work remains to be done on elaborating each principle in more depth. Based on an exploratory study of seven ventures from the Caribbean island of Curacao, this paper develops an elaborated process model of the affordable loss heuristic in effectuation. The model breaks affordable loss into two components—ability and willingness, and connects these to the concept of loss aversion from prospect theory. Furthermore, these components are encapsulated in a process involving identity, affect, and resourcefulness leading to the entry-stage entrepreneurial investment decision.
Entrepreneurship stands high on the political European agenda. Its meaning is twofold: entrepreneurship as a career opportunity, or as a competency. Following the statement made in Europe, national governments have defined an urgent need to stimulate entrepreneurial talent and motivate students to become entrepreneurs to start and develop new businesses that will generate employment and create economic and social wealth. Developing entrepreneurship education and training initiatives is one way of helping to achieve this goal. According to the European commission (2008), the teaching of entrepreneurship is not yet sufficiently integrated in higher education institutions' curricula. So the real challenge is to build campus-wide, inter-disciplinary approaches, making entrepreneurship education accessible to all students. At The Hague University of Applied Sciences we develop programs to stimulate entrepreneurship. The question is: to what extent do these programs contribute towards the development of entrepreneurial competencies, in other words: can entrepreneurship be taught? And furthermore, to what extent do the programs contribute to the success of new start-ups by students that followed our programs? Over the last five years time more than 200 students have taken part in three different electives developed in our centre. Some of the findings of our research are that students indeed develop entrepreneurial competencies (Harkema & Schout, 2008). This can partly be attributed to the pedagogical concept underlying the programs. The next step is to determine whether the acquired competencies developed in the program among students that have set up their own business, help them in their business and are accountable for their business success. In this paper we report on the preliminary findings of our research among a sample group of alumni that have followed different programs and set up their own business.
In the last decade, directed from the European Union, entrepreneurship and entrepreneurship education became a main topic on both, political and strategic managerial agenda’s. Despite the enormous effort and money invested, the failure rate of starting entrepreneurs seems to be stable. Next to an increase of starting entrepreneurs, more young people are faced with the trauma of an entrepreneurial failure. This paper want to explore the causes of a negative entrepreneurial outcome an the possibilities to prevent from this.
This report contains an analysis of the AMP1’s entrepreneurial ecosystem. It aims to assess the external perceptions about the entrepreneurial ecosystem of the Metropolitan Area of Porto and the key variables to work on. We systematically analyse the perception of Porto as entrepreneurial ecosystem in the AMP itself, based social media analysis and on interviews with entrepreneurs and other stakeholders in the Porto ecosystem. As a reference case, we also conducted a survey and interviews in Amsterdam. This helps to compare the situation in AMP with that in Amsterdam. The analysis helped to understand the current strengths and weaknesses of the AMP’s ecosystem, seen from the eyes of insiders and outsiders. In particular, we focused on two key features: internationalisation and the role of the wider region.
Purpose: Preventing business failure remains a significant challenge for small businesses in the Netherlands. Given their importance for the Dutch economy, understanding the causes of business failure and equipping business owners with strategies for resilience is imperative. This dissertation seeks to address this challenge by examining the sales role of business owners, referred to as ‘Entrepreneurial Selling,’ within the context of small-scale Dutch businesses. The goal is to identify how business owners can develop effective sales behaviors to mitigate the risk of failure and enhance the long-term viability of their businesses. The research into Entrepreneurial Selling is rising, yet further advancements, including this dissertation, are required to better support business owners in their continuous sales responsibilities. The main research question, therefore, is: How do small-scale business owners in the Netherlands behave in their Entrepreneurial Selling role and how can they become more effective in their sales behavior? Methods: To address the research question, a multimethod research approach is utilized. The research design comprises a literature review, three progressively linked studies, and practical applications. The first study (Chapter 4) involves a content re-analysis of 55 interviews to underscore the pivotal nature of Entrepreneurial Selling in preventing business failure. The second study (Chapter 5) conducts 12 semi-structured interviews, employing thematic analysis to categorize business owners' sales behaviors based on their entrepreneurial motivations. In the third study (Chapter 6), quantitative methods are employed (N=276) to explore the relationship between Entrepreneurial Selling Role Orientation (ESRO) and effective sales behavior. These studies provide the foundation for the practical applications developed in collaboration with practitioners (Chapter 7).Findings: The first study found that Entrepreneurial Selling is a crucial activity for preventing business failure and one that business owners recognize. Reasons for underperformance can include business owners allocating inadequate time to selling, deficient sales skills, and procrastination of sales activities. The subsequent studies build on this foundation. The second study introduces an Entrepreneurial Selling typology, linking business owners' motivations with their sales role strategies, offering insights into how motivations influence sales behavior. The third study introduces the concept of ESRO and substantiates its impact on sales behavior. Furthermore, a positive connection is identified between sales training and effective sales practices. The findings of the studies are individually applied to Sarasvathy’s Bird-in-Hand principle of Effectuation theory and are synthesized within the Entrepreneurial Selling Matrix. Originality/Value: This dissertation contributes to the Entrepreneurial Selling field by advancing our understanding of the business owners’ sales role in enhancing business resilience. It underscores the connection between ineffective sales practices and business failure and delves deeper by investigating the interplay between entrepreneurial motives and ESRO on sales behavior. Additionally, this study bridges the gap between entrepreneurship- and sales research by applying the Bird-in-Hand principle to business owners' sales behavior. In practical terms, the research's outcomes are twofold. First, it refines the Entrepreneurial Selling Matrix, providing a pragmatic typology that aids sales training practitioners in guiding business owners toward aligning sales behaviors with entrepreneurial goals. Second, it introduces an Entrepreneurial Selling Training Program, accompanied by tools, facilitating sales trainers in evaluating and improving current and desired sales behaviors. This practical approach contributes directly to nurturing resilient and thriving businesses.
This paper investigates whether students change their entrepreneurial entry preference if they are presented with different options. We propose that students’ entry preferences are mediated by concepts proposed by threshold theory: choice options, opportunity costs and psychic income. This study is exploratory in nature, analyzing a small sample of 31 student essays both quantitatively and qualitatively to test our propositions. Though lacking a control group, enrolment in a six-week module on entry mode options by a group of third year Bachelor students at a Dutch university resulted in some interesting changes—in particular, toward greater clarity in the entrepreneurial entry mode preference as well as a shift toward takeover options (including firm acquisition and family succession). However, thematic analysis of students essays reveals that the perceived ability to act on such preferences may still be limited by opportunity costs (i.e., the higher need for financial capital) and a self-perceived lack of human capital (entrepreneurial or management experience).
PurposeAll entrepreneurs interact simultaneously with multiple entrepreneurial contexts throughout their entrepreneurial journey. This conceptual paper has two central aims: (1) it synthesises the current literature on gender and entrepreneurship, and (2) it increases our understanding of how gender norms, contextual embeddedness and (in)equality mechanisms interact within contexts. Illustrative contexts that are discussed include entrepreneurship education, business networks and finance.Design/methodology/approachThis conceptual paper draws upon extant literature to develop its proposed conceptual framework. It provides suggestions for systemic policy interventions as well as pointing to promising paths for future research.FindingsA literature-generated conceptual framework is developed to explain and address the systemic barriers faced by opportunity-driven women as they engage in entrepreneurial contexts. This conceptual framework visualises the interplay between gender norms, contextual embeddedness and inequality mechanisms to explain systemic disparities. An extra dimension is integrated in the framework to account for the power of agency within women and with others, whereby agency, either individually or collectively, may disrupt and subvert the current interplay with inequality mechanisms.Originality/valueThis work advances understanding of the underrepresentation of women entrepreneurs. The paper offers a conceptual framework that provides policymakers with a useful tool to understand how to intervene and increase contextual embeddedness for all entrepreneurs. Additionally, this paper suggests moving beyond “fixing” women entrepreneurs and points towards disrupting systemic disparities to accomplish this contextual embeddedness for all entrepreneurs. By doing so, this research adds to academic knowledge on the construction and reconstruction of gender in the field of entrepreneurship.
