The purpose of this study is to discover if occupational preferences have any bearing on whether, or not, individuals decide to pursue entrepreneurial careers. Specifically, this paper seeks to determine if cognitive occupational expectancies (concerning perceived intrinsic and extrinsic occupational rewards) significantly influence plans to undertake entrepreneurship as a primary vocation. Past theory has determined relevant entrepreneurial rewards to be the intrinsic reward of independence, the intrinsic reward of a satisfying way of life, and the extrinsic reward of profit. Preference for each of these rewards is examined by utilizing the Valence Model of the Expectancy Theory. Findings indicate that individuals who perceive entrepreneurship as advantageous based on their attraction ...
Entrepreneurship and the development of new business continue to be the forefront of socioeconomic development in virtually all economies today. Despite evidence of increasing research into entrepreneurial growth, the existing research is limited by the fact that most studies define entrepreneurial growth as a unidimensional construct and operationalize it as "realized" growth relying on financially based measures. Consequently, this article has two objectives: (1) to develop a set of accurate and comprehensive entrepreneurial growth measures; and (2) to test a series of hypotheses regarding precursors of growth intentions-more specifically, to what extent, infrastructure factors affect entrepreneurial growth intentions. These two questions were examined using Entrepreneurial Profile Qu...
Two technological hotspots: Silicon Valley (USA), and Sophia Antipolis (France) have been assessed for differences in entrepreneurs' fund raising strategies. The study analyzed different stages in the venture capitalist's (VC) investment decision process from the entrepreneur's perspective, not from the frequently examined VC's viewpoint. The qualitative study of nine cases compares the two different cultural contexts, where the parties negotiate the investment agreements. The results underline, that the different subcultures require markedly different entrepreneurial strategies for successful VC fundraising. The investment decision process leads to a faster investment in US companies than in the French examples. Entrepreneurs in both regions advised strongly against signing exclusivity...
This article presents a novel approach to measure entrepreneurial optimism and realism and their relationship to individual demographics, entrepreneurial characteristics, and learning reflections on new venture formation. Measures of optimism from psychology and a measure of realism developed by the authors were used to determine if entrepreneurs are optimistic and/or realistic, a majority are. Many entrepreneurs were both optimistic and realistic. Interesting tendencies were also identified between those characteristics and other entrepreneurial characteristics and behaviors. Most of the entrepreneurs would start again. Changes that entrepreneurs would make if they were going to start again tended to be in finance, marketing, seeking more counseling and training.
Built on the resource-based view of the firm, this study addresses two major research questions: (1) what resources are salient in entrepreneurial discontinuance; (2) To what extent, does the impact of resources on the odds of discontinuance vary across the nature of startup between high technology and non-technology? These questions are examined using 830 nascent entrepreneurs from the Panel Study of Entrepreneurial Dynamics (PSED). Overall, we find that not all resources are equally salient, especially when comparing technology-based and non-technology-based nascent entrepreneurs. With the exception of education and managerial experience, human capital has limited influence on discontinuance. Our results lend no support for our social capital hypothesis. Financial capital significantl...
Many entrepreneurs are able to manage their businesses within relatively contained and familiar geographical and cultural circles. With a world economy shrinking every day amid a flood of digital information, today's entrepreneur is increasingly confronted with opportunities to consider new ways to secure vendors and recruit customers. Many unfamiliar possibilities emerge. Should the entrepreneur venture beyond "comfortable" surroundings to consider international connections? Specifically, what about China? How practical is this fetching business temptation of larger markets and lower-cost subcontractors? What are the social, trade, financial, and political issues? Should a "China strategy" be a true entrepreneurial offensive, or rather a defensive response to competition? Is this "Chin...
This paper uses a longitudinal database to examine how family businesses compare with their non-family counterparts in one form of entrepreneurial activity, internationalization. It then evaluates some qualitative data to explore what elements of Lumpkin and Dess' (1996) entrepreneurial orientation - autonomy, innovativeness, risk taking, proactiveness, and competitive aggressiveness - may have been evident when family businesses internationalized. Results indicate that family firms are less likely to be internationally active compared with non-family firms. While the importance of innovativeness for international expansion is highlighted, findings suggest that unless family business managers have the freedom to act autonomously, the ability to benefit internationally from such innovati...
An unresolved issue in the study of entrepreneurs is what factors do individuals consider before attempting to establish new ventures? Also, which of these factors are most influential to a decision after deliberation is complete? Previous studies have examined similar questions by developing inquiries of entrepreneurial self efficacy that are based solely on discrete business functions. However, not only are functional assessments too venture-specific for the general nature of most entrepreneurial self-efficacy research, they are usually operationalized with self-report direct surveys that are highly susceptible to social desirability response bias. In this study, we apply a decision modeling methodology to empirically assess the influence of human competencies in the entrepreneurial s...
This paper presents some of the findings of an ongoing, longitudinal study of high growth entrepreneurial firms that had successful implemented their global strategies. While most SMEs produce a service or product that could be competitive in international markets, many are unsure of the appropriate strategy for entry. In 1993-1994, in order to provide insights into how domestic SMEs could successfully enter the international arena, a study was conducted of 100 high-growth firms that had recently "gone international." The sample was drawn from Inc. magazine's list of the top 500 smaller U.S. companies. It was noted at that time, however, that the performance and relative success of these firms need to be ascertained over a period of time. Thus, the present study discusses an in-depth in...
Central to the kaleidoscope perspective of entrepreneurial careers is the idea of balance. Part of this balance is managing the tension between the risks inherent in the entrepreneurial effort and the need to financially protect the entrepreneur's family and other obligations. States can help entrepreneurs manage this tension by exempting certain property from bankruptcy thereby offering these economic actors some financial protection should the effort fail. Several recent studies have identified a link between these exemptions to federal bankruptcy law and rates of entrepreneurship. These studies presume, however, that the state exemptions provide a level of wealth insurance should the entrepreneurial effort fail and that this is factored into the decision to start a new venture. Using...
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