Unpacking the uncertainty construct: Implications for entrepreneurial action

Uncertainty is central to entrepreneurship; however robust and generalizable findings that explain the conditions in which uncertainty may impede [or promote] entrepreneurial action remain elusive. We operationalize uncertainty as a multi-dimensional construct composed of state, effect, and response...

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Vydáno v:Journal of business venturing Ročník 26; číslo 3; s. 273 - 292
Hlavní autoři: McKelvie, Alexander, Haynie, J. Michael, Gustavsson, Veronica
Médium: Journal Article
Jazyk:angličtina
Vydáno: New York Elsevier Inc 01.05.2011
Elsevier Science Publ
Elsevier
Elsevier Sequoia S.A
Edice:Journal of Business Venturing
Témata:
Conjoint analysis
Conjoint-Analyse
Correlation analysis
Decision making
Entrepreneurial action
Entrepreneurs
Entrepreneurship
Entscheidung unter Unsicherheit
Opportunity
Opportunity exploitation
Software industry
Studies
Uncertainty
Uncertainty Entrepreneurial action Opportunity exploitation Conjoint analysis
Unternehmensgründung
Uncertainty
Entrepreneurial action
Conjoint analysis
Opportunity exploitation
ISSN:0883-9026, 1873-2003
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Popis
Shrnutí:Uncertainty is central to entrepreneurship; however robust and generalizable findings that explain the conditions in which uncertainty may impede [or promote] entrepreneurial action remain elusive. We operationalize uncertainty as a multi-dimensional construct composed of state, effect, and response types of uncertainty (Milliken, 1987) to investigate the relationship between uncertainty and entrepreneurial action. We decompose more than 2800 exploitation decision policies nested within a sample of new product decision-makers working in entrepreneurial software firms. We focus on the primary decision-maker's willingness to exploit a given opportunity in the face of varying combinations and manifestations of uncertainty and find that the type of uncertainty experienced influences the willingness to engage in entrepreneurial action differently. Further, we find that differences in how each type of uncertainty is manifested in the environment, the scale of exploitation (i.e. large vs. small), and the entrepreneur's expertise serve to moderate the relationship between uncertainty and action in counter-intuitive ways. We discuss the implications for both theory and practice.
Bibliografie:SourceType-Scholarly Journals-1
ObjectType-Feature-1
content type line 14
ISSN:0883-9026
1873-2003
DOI:10.1016/j.jbusvent.2009.10.004