TY - JOUR
T1 - Strategic orientations of nascent entrepreneurs
T2 - antecedents of prediction and risk orientation
AU - Markowska, Magdalena
AU - Grichnik, Dietmar
AU - Brinckmann, J.
AU - Kapsa, Diana
N1 - Publisher Copyright:
© 2018, The Author(s).
PY - 2019/12/1
Y1 - 2019/12/1
N2 - Entrepreneurial judgment is crucial for entrepreneurial success. Extant literature argues that prior experience influences entrepreneurial decisions and the identification of attractive decision spaces for entrepreneurial activity is impacted by subjective risk perception and response to this risk. We posit that entrepreneurs develop different preferences for risk and prediction and their decisions reflect these preferences. To understand the strategic orientations of nascent entrepreneurs, using a sample of 262 nascent entrepreneurs, we study the impact of prior experience and the environmental context on the development of two strategic orientations of nascent entrepreneurs: risk orientation, i.e., the extent to which an individual perceives risk as downside loss or an upside opportunity and the prediction orientation, i.e., the extent to which an individual focuses on prediction. In doing so, our study contributes to a better understanding of the strategy formation process among nascent entrepreneurs.
AB - Entrepreneurial judgment is crucial for entrepreneurial success. Extant literature argues that prior experience influences entrepreneurial decisions and the identification of attractive decision spaces for entrepreneurial activity is impacted by subjective risk perception and response to this risk. We posit that entrepreneurs develop different preferences for risk and prediction and their decisions reflect these preferences. To understand the strategic orientations of nascent entrepreneurs, using a sample of 262 nascent entrepreneurs, we study the impact of prior experience and the environmental context on the development of two strategic orientations of nascent entrepreneurs: risk orientation, i.e., the extent to which an individual perceives risk as downside loss or an upside opportunity and the prediction orientation, i.e., the extent to which an individual focuses on prediction. In doing so, our study contributes to a better understanding of the strategy formation process among nascent entrepreneurs.
KW - Nascent entrepreneurs
KW - Prediction orientation
KW - Risk orientation
KW - Strategic orientations
UR - http://www.scopus.com/inward/record.url?scp=85055958532&partnerID=8YFLogxK
U2 - 10.1007/s11187-018-0107-4
DO - 10.1007/s11187-018-0107-4
M3 - Article
AN - SCOPUS:85055958532
SN - 0921-898X
VL - 53
SP - 859
EP - 878
JO - Small Business Economics
JF - Small Business Economics
IS - 4
ER -