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Entrepreneurial Learning through Failure
Adam Shore
BAM 2016 Conference - Entrepreneurship track
Swansea University Author: Adam Shore
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Abstract
In this paper, the literature of entrepreneurial learning is examined, with particular focus on critical events, namely failure of the business as defined by the cessation of company due to the company becoming insolvent. Business failure occurs when “a fall in revenues and/or a rise in expenses are...
| Published in: | BAM 2016 Conference - Entrepreneurship track |
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| Published: |
Edinburgh
2016
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| URI: | https://cronfa.swan.ac.uk/Record/cronfa31019 |
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| Abstract: |
In this paper, the literature of entrepreneurial learning is examined, with particular focus on critical events, namely failure of the business as defined by the cessation of company due to the company becoming insolvent. Business failure occurs when “a fall in revenues and/or a rise in expenses are of such a magnitude that the firm becomes insolvent and is unable to attract new debt or equity funding; consequently, it cannot continue to operate under the current ownership and management” (Shepherd, 2003, p. 318). I draw upon the theories and hypotheses that have been proposed by the leading authors in the field over the past 15 years, to build a new conceptual model of entrepreneurial learning through failure. The main contribution of the model presented is the identification of the key constructs of entrepreneurial self-efficacy, entrepreneurial preparedness, grief, and distance from failure as significant influencing factors of learning through failure. |
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| Keywords: |
entrepreneurship, entrepreneurial learning, failure, recovery |
| College: |
Faculty of Humanities and Social Sciences |