A reconceptualization of fear of failure in entrepreneurship

Abstract

Fear of failure both inhibits and motivates entrepreneurial behavior and therefore represents a rich opportunity for better understanding entrepreneurial motivation. Although considerable attention has been given to the study of fear of failure in entrepreneurship, scholars in this field have investigated this construct from distinct disciplinary perspectives. These perspectives use definitions and measures of fear of failure that are potentially in conflict and are characterized by a static approach, thereby limiting the validity of existing findings about the relationship between fear of failure and entrepreneurship. The purpose of this paper is to delineate more precisely the nature of fear of failure within the entrepreneurial setting. Using an exploratory and inductive qualitative research design, we frame this construct in terms of socially situated cognition by adopting an approach that captures a combination of cognition, affect and action as it relates to the challenging, uncertain, and risk-laden experience of entrepreneurship. In so doing, we provide a unified perspective of fear of failure in entrepreneurship in order to facilitate progress in understanding its impact on entrepreneurial action and outcomes.

Is Fear of Failure a Psychological Barrier an Empirical Study on Occupational Choices

“…As already discussed in psychology literature and attracting the attention of many people, FoF refers the "disposition to avoid failure and/or the capacity for experiencing shame and humiliation as a consequence of failure" and as the "disposition to become anxious about failure under achievement stress" (Atkinson, 1966:13;Atkinson andLitwin, 1973:146 cited in Cacciotti, Hayton, Mitchell andGiazitzoglu, 2016;Conroy, 2001). Although it is assumed as avoidance-based motive disposition in the achievement domain (Elliot and Trash,2004), it could also lead to approach behaviors (Cacciotti et al 2016).…”

“…Although it is assumed as avoidance-based motive disposition in the achievement domain (Elliot and Trash,2004), it could also lead to approach behaviors (Cacciotti et al 2016).…”

Researching at the Intersection of Innovation, Operations Management, and Entrepreneurship

“…For example, people often fear failure (Cacciotti, Hayton, Mitchell, & Giazitzoglu, 2016;Mitchell & Shepherd, 2010;Tsai, Chang, & Peng, 2016). At times, this fear of failure likely manifests itself in a reluctance to kill an entrepreneurial project despite evidence of its weak viability.…”

The attitudes, behaviors and cognition of entrepreneurs: rebels with a cause

“…Additionally, Koellinger et al (2007) note the role of subjective perceptions in explaining why certain individuals engage in entrepreneurial action and other individuals do not. Likewise, Cacciotti et al (2016) highlight how internal cognitive evaluations and external social cues influence the experience of fear of failure and lead to a variety of potential behavioral responses (i.e. action, inaction or repression).…”

“…The second perspective adopts a focus on major changes/shocks that have occurred for the individual and the ways in which the individual respond in relation to using entrepreneurship or entrepreneurial thinking to adjust. And a third perspective reflects how lived experience shapes an individuals' entrepreneurial motivation and action (see Cacciotti et al, 2016).…”