Inhaltsangabe:Introduction: When making a decision of minor importance, I have always found it advantageous to consider all the pros and cons. In vital matters, however, such as the choice of a mate or a profession, the decision should come from the unconscious, from somewhere within ourselves. In the important decisions of personal life, we should be governed, I think, by the deep inner needs of our nature. Sigmund Freud (1856 1939). Problem Statement, Research Objective and Motivation: For almost a century the dominant idea of man in economics has been the perfectly rational utility maximizer, subsumed Homo oeconomicus. In the late 1960s and 70s Amos Tversky and Daniel Kahneman conducted a serial of experiments whose results showed that individuals make judgements that systematically violate objective norms of rationality. The findings by Tversky and Kahneman confirmed, what has been theorised before by Herbert Simon (1955), that humans are boundedly or rather approximately rational. The work of these scholars has been a major impetus for the subsequent change in idea of man across various disciplines, including economics. Kahneman and Tversky (1974) identified several broad simplifying strategies, termed heuristics that have the great advantage of speed and adaptivity in decision making, though being less accurate than objective norms of rationality. Moreover, their use often results in cognitive biases, that may lead to systematic errors in judgement. Such an entry of non-rationality into human decision behavior has lead to a more realistic assessment of how decisions are actually made by individuals taking bounded rationality and uncertainty of the environment into account. The entrepreneurial field is an environment in which these factors are particularly prevalent, and individuals especially unprotected against. This may manifest in a higher susceptibility to heuristics and biases than by other subpopulations. Studies on decision making have shown that entrepreneurs often do use approximate strategies. Experimental results show both a higher susceptibility to some biases than other individuals and a lower susceptibility to other biases. These findings allow for the assumption of a situation or domain-specific susceptibility to certain biases. However, entrepreneurs are known to be a quite heterogeneous group, raising the question whether a type-specific proneness to certain heuristics and biases exists. To find out if this is the case [...]

Habitual Entrepreneurs examines the scale of habitual entrepreneurship and uses insights from human capital theory and cognitive theories to present a theoretical case for distinguishing between different types of entrepreneurs with reference to their prior business ownership experience.

Increasingly, entrepreneurship research recognizes a wide variety in entrepreneurial behaviour. One such difference is marked between experienced or habitual entrepreneurs and novices. This book, authored by established experts in the field, introduces and explores the habitual entrepreneur phenomenon. Building upon an international body of research, the authors analyse business behaviour to demonstrate how experience relates to the performance of new ventures. In employing a range of methodological techniques, the authors provide insight into how prior business ownership experience produces different outcomes when it comes to the key success factors associated with entrepreneurial ventures. With detailed coverage of finance, networking, opportunity discovery, and learning, the book is a uniquely comprehensive resource. This concise book is a complete research guide which provides an introduction for advanced students and researchers of entrepreneurship worldwide.

This insightful book presents leading-edge European research on entrepreneurial processes in a changing global world. The contributors take a closer look at what constitutes entrepreneurial processes; how entrepreneurs develop their businesses and access critical resources in times of crisis; and which roles knowledge and innovation play in continuous venture development. The chapters included in this volume give a flavour of the themes and approaches featuring in contemporary entrepreneurship and small business research in Europe. Entrepreneurial Processes in a Changing Economy will prove invaluable for advanced undergraduate and postgraduate students of entrepreneurship and small business. Entrepreneurship and small business researchers and policy makers will also find plenty of relevant information in this important resource.

Increasingly, entrepreneurship research recognizes a wide variety in entrepreneurial behaviour. One such difference is marked between experienced or habitual entrepreneurs and novices. This book, authored by established experts in the field, introduces and explores the habitual entrepreneur phenomenon. Building upon an international body of research, the authors analyse business behaviour to demonstrate how experience relates to the performance of new ventures. In employing a range of methodological techniques, the authors provide insight into how prior business ownership experience produces different outcomes when it comes to the key success factors associated with entrepreneurial ventures. With detailed coverage of finance, networking, opportunity discovery, and learning, the book is a uniquely comprehensive resource. This concise book is a complete research guide which provides an introduction for advanced students and researchers of entrepreneurship worldwide.

Strategic management relies on an array of complex methods drawn from various allied disciplines to examine how managers attempt to lead their firms toward success. This book provides a forum for critique, commentary, and discussion about key research methodology issues in the strategic management field.

There has been an explosion of interest in entrepreneurs in the popular media, as well as in business, policy, and education. But what do entrepreneurs do? What is entrepreneurship and why is it important? What is distinctive about entrepreneurs? And where do they come from? In this Very Short Introduction Paul Westhead and Mike Wright weave a pathway through the debates about entrepreneurship, providing a guide to the entrepreneurial process. They look at how the actions of entrepreneurs are shaped by the external environment and availability of resources, consider the types of organizations in which entrepreneurs can be found, and look at the diversity in their backgrounds, experience, and how they think and learn. Lastly, they consider the impact that entrepreneurs have on modern market economies and look at the future of entrepreneurship in our increasingly globalized world. ABOUT THE SERIES: The Very Short Introductions series from Oxford University Press contains hundreds of titles in almost every subject area. These pocket-sized books are the perfect way to get ahead in a new subject quickly. Our expert authors combine facts, analysis, perspective, new ideas, and enthusiasm to make interesting and challenging topics highly readable.