Successful entrepreneurs minimize risk

Murmann, Johann Peter; Sardana, Deepak

doi:10.1177/0312896212444114

Cited by 28 publications

(18 citation statements)

References 72 publications

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“…This study contributes to this literature on a conceptual level by focusing on the little studied area of risk perception in addition to the well-studied concept of risk propensity (see Zhao et al, 2010;Rauch et al, 2009). It is broadly accepted that risk perception can affect firm performance as under-or over-estimation of risks may lead to suboptimal business outcomes (Åstebro et al, 2014;Palich and Bagby, 1995) and insufficient use of risk mitigation measures (Murmann and Sardana, 2013;Willebrands et al, 2012). Broadening the concept of risk attitude beyond the concept of willingness to take risk could open the way to a more comprehensive view on the relationship between risk attitude and firm performance.…”

Section: Discussionmentioning

confidence: 99%

Entrepreneurship, risk perception and firm performance

Boermans

Willebrands

2017

IJESB

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Risk attitudes of entrepreneurs are well-established drivers of business performance. Most empirical studies in this field only take into account risk propensity, leaving out the complementary concept of risk perception. Using data on 611 entrepreneurs from Tanzania, we show that risk perception is positively associated with business performance. In addition, we classify the entrepreneurs in four different groups based on their risk profile. The results show that the worst performing entrepreneurs are those with low risk perception and high risk propensity.

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Section: Discussionmentioning

confidence: 99%

Entrepreneurship, risk perception and firm performance

Boermans

Willebrands

2017

IJESB

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“…Schwartz (1992, p. 21) defines values as 'desirable trans-situational goals, varying in importance that serve as guiding principles in the life of a person or other social entity'. Busenitz and Barney (1997) explain that, because entrepreneurs tend to let their decisions be influenced by these apparently 'irrational' considerations, they are often perceived as intuitive and opportunistic risk takers (see Ü rü et al 2011;Murmann and Sardana 2012). Entrepreneurs' values and their persistent interest in society's needs (Oliverio 1989) act as drivers of socially responsible behaviour (Hemingway 2005).…”

Section: Theoretical Background Entrepreneurs Motivations and Climatmentioning

confidence: 99%

Seriously Personal: The Reasons that Motivate Entrepreneurs to Address Climate Change

et al. 2017

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Scholars increasingly argue that entrepreneurs and their small-and medium-sized enterprises should play a central role in reducing the rate and magnitude of climate change. However, evidence suggests that while some entrepreneurs recognize their crucial role in addressing climate change, most do not. Why some entrepreneurs nevertheless concern themselves with climate change has largely been overlooked. Some initial work in this area tentatively suggests that these entrepreneurs may engage with climate change because of their personal values, which either focus on financial or socio-ecological reasons, or a combination of both. Yet, it is unclear if all for-profit entrepreneurs engage with climate change for the same reasons, or if indeed their motivations vary across business types. Over a period of four years, we examined entrepreneurs' motivations to engage with climate change through a variety of qualitative research methods. Our findings illustrate how entrepreneurs who address climate change have motivations specific to their business activity/ industry and level of maturity. In each instance, we link these motivations to distinct conceptualizations of time and place. We contend that, through a more differentiated understanding of entrepreneurial motivations, policy-makers can draft climate change-related policies tailored to entrepreneurial needs. Policies could both increase the number of entrepreneurs who already engage in climate change mitigation and leverage the impact of those entrepreneurs already mitigating climate change.

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“…Empreendedores com maior discernimento cognitivo são capazes de compreender de forma mais efetiva os riscos e incertezas das empresas (Miranda, 2015). O que distingue empreendedores de sucesso dos demais é a forma como ocorre a tomada de decisão, sendo que em algumas situações, os tomadores de decisão confiam nas análises heurísticas, e em outras situações nas análises sistemáticas (Murmann & Sardana 2012), ou seja, consideram não somente seu conhecimento, mas também a intuição em relação ao ambiente em que estão inseridos.…”

Section: Tomada De Decisãounclassified

Fatores Antecedentes da Tomada de Decisão na Criação de STARTUPS na Perspectiva de Jovens Estudantes Universitários

Pinochet¹,

Souza²,

Lopes³

et al. 2018

RMPE

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recebido em 24 de novembro de 2017 aprovado em 13 de março de 2018 Resumo: Este estudo propõe um modelo teórico por meio da identificação dos relacionamentos entre as dimensões experiência empreendedora, incerteza ambiental, e tomada de decisão, com o objetivo de explicar a influência dos antecedentes da tomada de decisão na criação de startups na perspectiva empreendedora de jovens estudantes universitários. A análise dos dados foi realizada por meio da análise fatorial exploratória e pela regressão linear múltipla. A pesquisa foi do tipo survey constituído por uma amostra de 389 questionários válidos, utilizando um instrumento de coleta estruturado com 23 assertivas desenvolvidas com base na literatura. Os resultados obtidos demonstraram que as duas hipóteses do modelo foram validadas, ou seja, identificou-se que a Experiência Empreendedora (p<0,001) e a Incerteza Ambiental (p=0,028) afetam positivamente a Tomada de Decisão na criação de Startups. Portanto, este estudo contribui para o desenvolvimento de uma escala que auxilia a identificar os principais desafios que os jovens empreendedores enfrentam ao se inserirem no mercado de startups, entre eles: cenários futuros e vantagem competitiva diante dos concorrentes que são caracterizados por rápida expansão e grandes riscos e incertezas. Palavras-chave: Startups. Experiência empreendedora. Incerteza ambiental. Tomada de decisão.

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Successful entrepreneurs minimize risk

Cited by 28 publications

References 72 publications

Entrepreneurship, risk perception and firm performance

Entrepreneurship, risk perception and firm performance

Seriously Personal: The Reasons that Motivate Entrepreneurs to Address Climate Change

Fatores Antecedentes da Tomada de Decisão na Criação de STARTUPS na Perspectiva de Jovens Estudantes Universitários

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