Research on entrepreneurship focuses predominantly on success which ignores the high failure rate of new ventures and precludes a holistic view of the entrepreneurial process. The current study addresses failure by asking three research questions: how do entrepreneurs experience failure, how do they cope with it, and what do they learn from it? Rich interview data is analyzed using multiple frameworks from the literature. Findings suggest that more coping and learning occurs in the economic aspect of failed entrepreneurs' lives in comparison to the social, psychological and physiological aspects. Findings also provide a proposition for testing in future research: Type of coping engaged in by failing entrepreneurs is related to the kind of learning experienced through failure.
This paper implements a qualitative, narrative approach to investigate entrepreneurs' personal experience of stigma associated with venture failure. Findings draw on the lived experience of 12 entrepreneurs and tell a collective story of how stigma affects entrepreneurs, shapes their actions, and engenders outcomes for them and their ventures. The story covers three episodes of entrepreneurs anticipating, meeting, and then transforming venture failure. Overall the paper shifts the focus of stigma research from the socio-cultural perspective pervading research to date, to micro level processes underlying socio-cultural trends. Findings offer unexpected insights into failure stigmatization. First, findings suggest stigmatization is best viewed as a process that unfolds over time rather than a label. Second, this process begins before, not after, failure and contributes to venture demise. Third, there is a positive ending to the collective story in that stigmatization ultimately triggers epiphanies or deep personal insights which transform entrepreneurs' view of failure from a very negative to a positive life experience. This transformation results in entrepreneurs distributing learning from failure to the founding of future ventures, even when ventures are not their own.
While individually small and medium sized enterprises (SMEs) may have small social, environmental and financial impacts, cumulatively their impact is significant. One of the fundamental questions is how a single economic entity, especially a small-scale enterprise, can be engaged in the uptake of sustainability practices. This question is particularly pertinent to New Zealand, where 98% of enterprises are SMEs. In this paper questions are raised about the conventional models of 'business ethics' and accountability and their relevance to SMEs. The paper reports on actual practices and discusses the possibility of small enterprises having accountability for their social and environmental impacts. Ways of linking individual firm activities to sustainability, such as a communitarian model of accountability, are discussed and illustrated. Copyright
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