Getting Nothing from Something: Unfulfilled Promises of Current Dominant Approaches to Entrepreneurial Decision-Making

Abstract

We provoke. In this conceptual piece, we challenge the value of two dominant models of the entrepreneurial process that have existed over the past two decades—the creativity school and the logic of effectuation. We point out their weaknesses and their unfulfilled promises, and we argue for the field to move on forward with different ideas. We identify the lessons our field should learn so as to minimize the possibility of potentially detrimental model dominance in the future. We then outline three alternative approaches to modeling entrepreneurial decision-making that suggest further skills and policies required in improve the entrepreneurial process.

How can biases affect entrepreneurial decision making? toward a behavioral approach to unicorns

“…We conjecture this article to provide a contribution to all those scholars and practitioners interested in the lively debate of how biases can affect EDM (e.g., Arend, 2020). In particular, we have outlined a tentative behavioral-based framework, consisting of three sequential stages and associated propositions, for EDM research on Unicorns.…”

Contextualized Behavior for Improving Managerial and Entrepreneurial Decision-Making

“…About the entrepreneurial decision-making process, the study of Arend (2020) entitled "Getting Nothing from Something: Unfulfilled Promises of Current Dominant Approaches to Entrepreneurial Decision-Making" makes a provokable debates on the value of two dominant models in the decision-making process in the entrepreneurial context: the creative school, and the logic of effectuation. In particular, departing from the weaknesses and failures of the of these two models, he then provides a series of alternative approaches for effectively studying the entrepreneurial decision-making.…”

“…However, also planning and organizing activities-such as elaborating models that can prevent adverse organizational events (Splichalova et al 2020) or defining activities that can help authority and control over the management of data assets (Brous and Janssen 2020)-can also help anticipating/avoiding undesired decision outcomes. From that, managerial and entrepreneurial decision-making emerge, even more, as phenomena that cannot be detached from the environment in which executives and entrepreneurs are embedded, claiming to establish new approaches to research (Arend 2020) that looks at decision-making as an individual/group/organization-environment dialectical and multi-level phenomenon.…”

Strategic Leadership Practices and Their Role in Achieving Competitive Advantage in Schools, Future Agendas, Research Gaps, and the Research Needs: Systematic Literature Review

“…The variables were examined in the preceding studies Table 2 The variables that were examined in the preceding studies Study Variables (Clarke & Winslade, 2019) Teaching profession, contemporary teacher practice, leadership opportunities for schoolteachers (Liddle, 2016) Collaborative leadership Lebrón et al (2020) Strategic management, case competition, experiential learning, (Haidar, 2018) Gender leadership Chennatuserry et al (2022) Competing value, leadership, strategic emphases Ramango et al (2022) School management teams, school leaders, screening identification assessment and support policy, school-based support team Dudley et al (2020) School-led improvement, system leadership Cohen et al (2011) Development of their leadership capacity (Frost & Roberts, 2004) Teacher Leadership Paletta et al (2020) Principal (Arend, 2020) Competitive advantage; critical assessments (Haijing, 2015) Competitive advantage, Educational competition, Educational marketing, Public higher education (Krause, 2015) Competitive advantage; resource-based approach (Shawn & Roshini, 2017) Network effect; competitive advantage 2015) investigated competitive advantage, educational competition, educational marketing, and public higher education. Moreover, Krause (2015) studied competitive advantage through a resourcebased approach.…”