The Challenging Dynamics of Nascent Entrepreneurship

2018 ◽  
pp. 1-28 ◽  
Author(s):  
Alexandra França ◽  
Alexandra Vilares ◽  
Silja Frankenbach ◽  
Vanda Vereb ◽  
António C. Moreira
Keyword(s):  
Personal Characteristics ◽  
Individual Characteristics ◽  
New Venture ◽  
New Venture Creation ◽  
Venture Creation ◽  
Nascent Entrepreneurs ◽  
Central Process ◽  
Nascent Entrepreneurship ◽  
Creation Process ◽  
The Individual

Nascent entrepreneurship has long been studied from a variety of perspectives. A major stream of work by psychologists and sociologists suggests that nascent entrepreneurs have distinctive traits and competences. A second focus for research has been studying the environment in which nascent entrepreneurs operates. Recently, the identification and exploitation of entrepreneurial opportunities has emerged as a third focus. In this paper we will address the following questions: (1) what are the individual characteristics of those individuals who are attracted to becoming an entrepreneur? (2) What are the environmental factors contributing to new venture creation? (3) What are the steps in the creation process? We will attempt to answer these three questions by arguing that the central process of nascent entrepreneurship is centred on opportunity recognition, evaluation and exploitation, and influenced by contextual factors (e.g. external knowledge) and personal characteristics and competences (e.g. internal knowledge).

Much More Than Meets the Eye

2021 ◽  
pp. 61-91
Author(s):  
Alexandra França ◽  
Silja Frankenbach ◽  
Vanda Vereb ◽  
Alexandra Vilares ◽  
António Carrizo Moreira
Keyword(s):  
Personal Characteristics ◽  
Individual Characteristics ◽  
New Venture ◽  
New Venture Creation ◽  
Venture Creation ◽  
Nascent Entrepreneurs ◽  
Sociological Perspective ◽  
Nascent Entrepreneurship ◽  
Creation Process ◽  
The Way

Nascent entrepreneurship plays an important role in the study of entrepreneurship. It has been studied from different angles, especially from the psychological and sociological perspective as nascent entrepreneurs have distinctive traits and competencies. Other important foci of research are the investigation of the environment in which nascent entrepreneurs operate, as well as the way both the identification and exploitation of entrepreneurial opportunities have emerged. The main objective of this chapter is to address (1) the main individual characteristics that entrepreneurs have in common; (2) the environmental factors contributing to new venture creation; and (3) the steps in the creation process. The chapter departs from the fundamental process of nascent entrepreneurship, which is centered on opportunity recognition, evaluation, and exploitation, and is complemented by the way how contextual factors and personal characteristics and competencies influence the new venture creation process.

Community Social Capital and the Venture Gestation Process

2019 ◽  
pp. 175-200
Author(s):  
Siddharth Vedula ◽  
Casey J. Frid
Keyword(s):  
Social Capital ◽  
Research Agenda ◽  
New Venture ◽  
Entrepreneurial Activity ◽  
New Venture Creation ◽  
Venture Creation ◽  
Nascent Entrepreneurs ◽  
Nascent Entrepreneurship ◽  
Growing Body ◽  
Future Work

Community social capital is increasingly recognized as an important regional resource for spurring entrepreneurial activity. A nascent but growing body of work has begun to link community social capital to entrepreneurship, focusing largely on outcomes such as rates of new venture creation. This chapter emphasizes ways in which community social capital can impact nascent entrepreneurship—namely, the activities founders undertake during the gestation phase before a new venture is created. It examines whether the types of activities undertaken by nascent entrepreneurs vary according to the prevalence (or absence) of community social capital within a region, and concludes with a research agenda for future work in this domain.

scholarly journals An exploration of the Business Plan Competition as a methodology for effective nascent entrepreneurial learning

2018 ◽  
Vol 24 (1) ◽  
pp. 121-146 ◽  
Author(s):  
Kayleigh Watson ◽  
Pauric McGowan ◽  
James A. Cunningham
Keyword(s):  
Learning Outcomes ◽  
Business Plan ◽  
New Venture ◽  
Critical Examination ◽  
New Venture Creation ◽  
Venture Creation ◽  
Nascent Entrepreneurs ◽  
Entrepreneurial Learning ◽  
Content Type ◽  
Nascent Entrepreneur

Purpose Business Plan Competitions (BPCs) are readily prescribed and promoted as a valuable entrepreneurial learning activity on university campuses worldwide. There is an acceptance of their value despite the clear lack of empirical attention on the learning experience of nascent entrepreneurs during and post-participation in university-based BPCs. To address this deficit, the purpose of this paper is to explore how participation in a university-based BPC affords entrepreneurial learning outcomes, through the development of competencies, amongst nascent entrepreneurs. Design/methodology/approach Underpinned by a constructivist paradigm, a longitudinal qualitative methodological approach was adopted. In-depth interviews with nascent entrepreneur participants of a UK university-based BPC were undertaken at the start and end of the competition but also six months after participation. This method enabled access to the participant’s experiences of the competition and appreciation of the meanings they attached to this experience as a source of entrepreneurial learning. Data were analysed according to the wave of data collection and a thematic analytical approach was taken to identify patterns across participant accounts. Findings At the start of the competition, participation was viewed as a valuable experiential learning opportunity in pursuit of the competencies needed, but not yet held, to progress implementation of the nascent venture. At the end of the competition, participants considered their participation experience had afforded the development of pitching, public speaking, networking and business plan production competencies and also self-confidence. Six months post-competition, participants still recognised that competencies had been developed; however, application of these were deemed as being confined to participation in other competitions rather than the routine day-to-day aspects of venture implementation. Developed competencies and learning remained useful given a prevailing view that further competition participation represented an important activity which would enable value to be leveraged in terms of finance, marketing and networking opportunities for new venture creation. Research limitations/implications The findings challenge the common understanding that the BPC represents an effective methodology for highly authentic, relevant and broadly applicable entrepreneurial learning. Moreover the idea that the competencies needed for routine venture implementation and competencies developed through competition are synonymous is challenged. By extension the study suggests competition activities may not be as closely tied to the realities of new venture creation as commonly portrayed or understood and that the learning afforded is situated within a competition context. Competitions could therefore be preventing the opportunities for entrepreneurial learning that they purport they offer. Given the practical importance of competition participation as a resource acquisition activity for nascent entrepreneurs, further critical examination of the competition agenda is necessary as too is additional consideration about the design of such competitions and how such competitions should feature within university policy to support new venture creation. Originality/value This study contributes to the limited literature and studies on BPCs by focussing on its effectiveness as a means of providing entrepreneurial learning for participants. The key contribution taking it from an individual nascent entrepreneur participant perspective is that the competencies afforded through competition participation are more limited in scope and application than traditionally promoted and largely orientated towards future BPC participation. Learning is mainly situated for competition sake only and about participants securing further resources and higher levels of visibility. As the nascent entrepreneurs intended learning outcomes from competition participation are subsequently not realised, the study highlights a gap between the intended and actual outcomes of competition participation.

scholarly journals Contesting effectuation theory: Why it does not explain new venture creation

2020 ◽  
Vol 38 (6) ◽  
pp. 515-535 ◽  
Author(s):  
John Kitching ◽  
Julia Rouse
Keyword(s):  
Decision Making ◽  
Cognitive Science ◽  
Causal Explanation ◽  
New Venture ◽  
New Venture Creation ◽  
Causal Powers ◽  
Venture Creation ◽  
Nascent Entrepreneurs ◽  
Cultural Contexts ◽  
Social Structural

We evaluate whether the theory of effectuation provides – or could provide – a powerful causal explanation of the process of new venture creation. We do this by conducting an analysis of the principal concepts introduced by effectuation theory. Effectuation theory has become a highly influential cognitive science-based approach to understanding how nascent entrepreneurs start businesses under conditions of uncertainty. But by reducing the process of venture creation to a decision-making logic, effectuation theory pays insufficient regard to the substantial, pervasive and enduring influence of social-structural and cultural contexts on venture creation. Powerful explanations should conceive of venture creation as a sociohistorical process emergent from the interaction of structural, cultural and agential causal powers and must be able to theorise, fallibly, how nascent entrepreneurs form particular firms in particular times and places. We conclude that effectuation’s contribution to entrepreneurship scholarship is more limited than its advocates claim because it can offer only an under-socialised, ahistorical account of venture creation. Failure to theorise adequately the influence of structural and cultural contexts on venture creation implicitly grants nascent entrepreneurs excessive powers of agency.

Effect of the different forms of overconfidence on venture creation: Overestimation, overplacement and overprecision

2020 ◽  
pp. 1-14
Author(s):  
Zsófia Vörös
Keyword(s):  
New Venture ◽  
New Venture Creation ◽  
Venture Creation ◽  
Nascent Entrepreneurs ◽  
Global Entrepreneurship Monitor ◽  
Entrepreneurial Skills ◽  
Self Focusing ◽  
Single Construct ◽  
New Evidence ◽  
Monitor Data

Abstract This paper focuses on the effects of entrepreneurial overconfidence at new venture creation. By analyzing Global Entrepreneurship Monitor data and using the theory of planned behavior as a framework, the study provides new evidence on the relative or absolute nature of overconfidence in entrepreneurial skills and the effect of overprecision on new venture creation. Overprecision of supporting beliefs is newly linked to venture creation and it is shown that nascent entrepreneurs’ overconfidence is based on a self-focusing attitude. The results confirm that overconfidence is not a single construct and highlights the differences between the forms of overconfidence habitually confused in the entrepreneurship literature.

scholarly journals FENOMENA PERNIAGAAN TEROKA BAHARU WANITA: JUSTIFIKASI LITERATUR TERHADAP PROSES PEMBINAAN TEORI KEUSAHAWANAN WANITA

2021 ◽  
Vol 9 (2) ◽  
pp. 60-77
Author(s):  
NURUL AMIRA OMAR ◽  
AHMAD FIRDAUSE MD FADZIL ◽  
ROSFATIHAH CHE MAT
Keyword(s):  
Women Entrepreneurs ◽  
Positive Impact ◽  
New Venture ◽  
New Venture Creation ◽  
Venture Creation ◽  
Women Entrepreneurship ◽  
Creation Process ◽  
Library Research ◽  
Building Process ◽  
Conceptual Study

AbstrakFenomena kemunculan perniagaan teroka baharu oleh wanita bukanlah topik baru jika disusuri dari susur galur sorotan kajian lepas. Ramai penyelidik lepas melihat pelbagai perspektif yang berbeza-beza mengikut cabang disiplin masing-masing sepertimana ekonomi, pengurusan, psikologi, sosiologi dan lain-lain lagi. Namun ironinya, perbincangan berkaitan proses pembinaan teori keusahawanan wanita dikatakan masih bersifat pramatang. Kajian konseptual ini telah menggunakan kaedah kajian perpustakaan terhadap 95 artikel terpilih bersangkutan fenomena keusahawanan wanita dalam proses penciptaan teroka baharu yang terdiri daripada beberapa jurnal utama bidang keusahawanan wanita. Hasil kajian literatur ini mendapati, penglibatan usahawan wanita melalui perniagaan teroka baharu terbukti memberi impak positif dari sudut peningkatan peluang pekerjaan serta memperkembangkan inovasi produk baru dalam sesebuah negara. Kesinambungannya, kajian ini bertujuan untuk mendalami berkenaan fenomena keusahawanan wanita terutama berkenaan proses penciptaan teroka baharu memandangkan disiplin ini masih lagi bersifat pramatang terutama dalam proses pembangunan teori. Bersandarkan kepada teori Gartner, 1985, penyelidik memberi huraian yang jelas bagi menerangkan bagaimana keusahawanan wanita yang berlaku boleh dikaitkan dengan empat perspektif berbeza iaitu individu, persekitaran, organisasi yang ditubuhkan dan juga proses keusahawanan yang berlaku. Hasil huraian ini memberi gambaran dan sudut pandang yang khusus kepada usahawan wanita untuk memfokuskan kepada sisi yang memberi impak baik kepada perkembangan perniagaan teroka baru mereka.   AbstractThe discussion about emerging women’s new venture creation is not a new topic when traced back from the past literature. Previous researchers looked at various perspectives according to their respective disciplines, such as economics, management, psychology, sociology etc. Ironically, the discussion related to the women entrepreneurship theory-building process is said to be premature. This conceptual study has used the library research method on 95 selected articles concerning the phenomenon of women entrepreneurship in the new venture creation process consisting of several main women entrepreneurship journals. Based on the result from literature review, the involvement of women entrepreneurs through new venture businesses proved to have a positive impact in terms of employment opportunities and the development of new product innovations in a country. This study investigated the relevance of the women entrepreneurship phenomenon related to the new venture creation process as this discipline is still premature. Based on Gartner's theory, the researchers provide a clear description of how women’s entrepreneurs can be associated with four different perspectives: individuals, environments, organizations established, and entrepreneurial process. The results of this description can provide a specific overview and perspective for women entrepreneurs to focus on the side that has a positive impact on the development of their new venture business.

scholarly journals An Experiential Pattern-Matching Teaching Method: Unpacking the Process of Becoming

2020 ◽  
pp. 251512742091465
Author(s):  
Daniil Pokidko ◽  
Fouad Philippe Saade ◽  
Nadav Shir
Keyword(s):  
Pattern Matching ◽  
Business Model ◽  
Educational Process ◽  
New Venture ◽  
New Venture Creation ◽  
Venture Creation ◽  
Matching Method ◽  
Theoretical Understanding ◽  
Creation Process ◽  
Business Model Canvas

The new venture creation process is essentially different from the process of managing an established business. Scholars suggest that many current mainstream teaching methods and tools used in entrepreneurship education (EE) are rooted in classical economic theory and do not fully address the specific nature of new venture creation. They also point at a shortage of native EE methods and tools developed specifically for the early-stage new venture creation process. We respond to this challenge through (a) a careful scrutiny of one of the most popular EE tools—the Business Model Canvas and (b) a novel and native EE Experiential Pattern-Matching method to support and complement the Business Model Canvas (and other similar EE tools). We advance our theoretical understanding of experience-based learning in EE settings by embedding the Experiential Pattern-Matching method into a Dynamic Experiential Process Framework that assists entrepreneurship educators in developing effective curricula and improving individual- and team-based learning throughout the educational process of new venture creation.

Characteristics and Role Demands of Entrepreneurship

1978 ◽  
Vol 3 (1) ◽  
pp. 5-17 ◽  
Author(s):  
Jeffry A. Timmons
Keyword(s):  
Practical Interest ◽  
Personal Characteristics ◽  
New Venture ◽  
New Venture Creation ◽  
Venture Creation ◽  
College Courses ◽  
Enterprise Development ◽  
The Past ◽  
The Subject ◽  
Role Demands

In the past decade interest in teaching and research on entrepreneurship has grown dramatically. More than one hundred universities now offer new venture creation and entrepreneurship courses that did not previously. Since 1973 we have seen nearly a dozen new books designed for college courses on the subject, the birth of the American Journal of Small Business, an International Symposium on Entrepreneurship and Enterprise Development (ISEED) and the emergence of numerous other activities, such as the Academy of Management Entrepreneurship Interest Group. A continuing area of research and practical interest is the personality and make-up of the entrepreneur: who are they? what are they like? how do they differ? This article attempts to summarize much of the research done on the personal characteristics and role demands of entrepreneurship.

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