Research on Factors Affecting the Entrepreneurial Learning From Failure: An Interpretive Structure Model

Abstract

Based on the interpretive structure model of system dynamics, this paper constructs a hierarchical structure model of factors affecting the entrepreneurial learning from failure, which has been also tested through a case of entrepreneurship. The study finds that: (1) there are 15 factors influencing entrepreneurial learning from failure that play different hierarchical roles; (2) the entrepreneurs’ self-efficacy, as a key influencing factor of entrepreneurial learning from failure, can be cultivated and improved by enriched the entrepreneurs’ successful career experience. In addition, emotion regulation after the entrepreneurial failure is also a key influencing factor of the entrepreneurial learning from failure and the emotion management is deemed as an important part of entrepreneurship education; (3) the entrepreneurial education may affect the entrepreneurship learning from failure indirectly by affecting the entrepreneurs’ self-efficacy; (4) the economic conditions, the policy support, the industry characteristics and the cultural sensemaking of failure are the macro factors that may affect the entrepreneurship learning from failure.

The Relationship Between Entrepreneurial Intention and Action: The Effects of Fear of Failure and Role Model

“…Therefore, psychological capital can correct entrepreneurs' fear of failure. When encountering setbacks or hard work in the process of entrepreneurship, a successful entrepreneur can help them build a positive psychology of entrepreneurship, reduce the frustration of entrepreneurship, and then regain confidence (Chlosta et al, 2012;Tsai and Hsieh, 2012;Lafuente and Vaillant, 2013;Yang et al, 2013;Liu and Lin, 2015;Zapkau et al, 2015;Zampetakis et al, 2017;Bockorny and Youssef-Morgan, 2019;Wei et al, 2019).…”

Entrepreneurial learning from failure. A systematic review

“…While there are obviously different views on how emotions should be regulated, studies concur about the pivotal role this process plays in learning (Amankwah-Amoah et al, 2018;Cope, 2011;Shepherd, 2003;Singh et al, 2007;Wei et al, 2019). In cases of multiple failures, He et al (2018) find that the rate at which failure events are experienced ("failure velocity") influences learning.…”

“…While Coad (2014) in his conceptual work is critical about the effects of failure-induced learning, empirical findings predominantly suggest that, under certain circumstances, learning from failure is possible. A second group of articles focuses on factors that are assumed to influence learning (for an overview see Wei et al, 2019). Among those factors, emotion (Byrne and Shepherd, 2015;Corner et al, 2017;Shepherd, 2003; and failure attribution (Cardon et al, 2011;Eggers and Song, 2015;Mantere et al, 2013;Ucbasaran et al, 2011;Walsh and Cunningham, 2017;Yamakawa and Cardon, 2015; are most frequently studied.…”

The nexus between entrepreneur skills and successful business: a decompositional analysis

“…El factor más importante del éxito es la capacidad de aprender de los fracasos anteriores y aplicar lo aprendido de una manera más efectiva. Sin embargo, la mayoría de las personas prestan más atención a las empresas exitosas tanto en la investigación empresarial como en la práctica empresarial, esto a pesar de que el fracaso puede ampliar el alcance de los posibles comportamientos de los empresarios al corregir sus prácticas ineficaces y mejorar sus habilidades y conocimientos (Wei et al, 2019).…”

“…En vista de su importancia cada vez mayor, el éxito en la creación de empresas ha sido de interés para muchos investigadores, organizaciones internacionales, formuladores de políticas, la sociedad en general, ya que conduce al crecimiento económico y a la creación de empleo (Wei et al, 2019).…”