A tale of two exits: nascent entrepreneur learning activities and disengagement from start-up

A tale of two exits: nascent entrepreneur learning activities and disengagement from start-up This article explores entrepreneurial exit defined as disengagement from the start-up process. It addresses two questions: (1) is disengagement a negative outcome? and (2) are all cases of disengagement homogeneous? The literature identifies two types of disengagements based on the degree of learning by nascent entrepreneurs. Intelligent exit refers to proactive or strategic disengagement precipitated by entrepreneurs’ learning that concluded the business opportunity would not be successful. From this perspective, entrepreneurs could adopt discovering or enacting modes and their related causal or effectual approaches to learning. Reactive or uninformed exit results from lack of planning and an inability to solve problems. Results suggest two different disengagement clusters—the intelligent and reactive exit clusters—but the distinction between discovering and enacting approaches to learning is not supported. Cases of intelligent exit are found to be more similar to cases of operating businesses than they are to cases of reactive exit. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Small Business Economics Springer Journals

A tale of two exits: nascent entrepreneur learning activities and disengagement from start-up

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Publisher
Springer US
Copyright
Copyright © 2011 by Springer Science+Business Media, LLC.
Subject
Business and Management; Management; Microeconomics; Entrepreneurship; Industrial Organization
ISSN
0921-898X
eISSN
1573-0913
D.O.I.
10.1007/s11187-011-9361-4
Publisher site
See Article on Publisher Site

Abstract

This article explores entrepreneurial exit defined as disengagement from the start-up process. It addresses two questions: (1) is disengagement a negative outcome? and (2) are all cases of disengagement homogeneous? The literature identifies two types of disengagements based on the degree of learning by nascent entrepreneurs. Intelligent exit refers to proactive or strategic disengagement precipitated by entrepreneurs’ learning that concluded the business opportunity would not be successful. From this perspective, entrepreneurs could adopt discovering or enacting modes and their related causal or effectual approaches to learning. Reactive or uninformed exit results from lack of planning and an inability to solve problems. Results suggest two different disengagement clusters—the intelligent and reactive exit clusters—but the distinction between discovering and enacting approaches to learning is not supported. Cases of intelligent exit are found to be more similar to cases of operating businesses than they are to cases of reactive exit.

Journal

Small Business EconomicsSpringer Journals

Published: Aug 3, 2011

References

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