Journal
JOURNAL OF BUSINESS VENTURING
Volume 24, Issue 4, Pages 287-309Publisher
ELSEVIER
DOI: 10.1016/j.jbusvent.2008.02.002
Keywords
Entrepreneur; Framing; Expertise; Decision-making; Effectuation
Categories
Ask authors/readers for more resources
In support of theory, this study demonstrates that entrepreneurial experts frame decisions using an effectual logic (identify more potential markets, focus more on building the venture as a whole, pay less attention to predictive information, worry more about making do with resources on hand to invest only what they could afford to lose, and emphasize stitching together networks of partnerships); while novices use a predictive frame and tend to go by the textbook. We asked 27 expert entrepreneurs and 3 7 MBA students to think aloud continuously as they solved typical decision-making problems in creating a new venture. Transcriptions were analyzed using methods from cognitive science. Results showed that expert entrepreneurs framed problems in a dramatically different way than MBA students. Published by Elsevier Inc.
Authors
I am an author on this paper
Click your name to claim this paper and add it to your profile.
Reviews
Recommended
No Data Available