Blowing Smoke? How Early-Stage Investors Interpret Hopeful Discourse within Entrepreneurially Oriented Business Plans

Wales, William J.; Cox, Kevin C.; Lortie, Jason; Sproul, Curtis R.

doi:10.1515/erj-2018-0114

Cited by 5 publications

(3 citation statements)

References 59 publications

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“…Besides that, EO has become one of the most established constructs in entrepreneurship and management research (Covin & Miller, 2014;Wales, Shirokova, Sokolova, & Stein, 2016). The growing popularity of entrepreneurship studies in the worldwide have motivated interest of many researchers in understanding the manifestation and application of EO in diverse socio-cultural contexts (Wales, Cox, Lortie, & Sproul, 2019;Schachtebeck et al 2018) and industries (Imran et al, 2018;Schachtebeck et al 2018).…”

Section: Introductionmentioning

confidence: 99%

Entrepreneurial Orientation in Micro and Small Enterprises of Traditional Food Centers in Bandung, West Java

Purnomo

Permana

Qosasi

et al. 2019

Binus Business Review

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The research objective was to analyze the determninant factors of Entrepreneurial Orientation (EO) in the Micro and Small Enterprises (MSEs) of the traditional food centers in Bandung. It used the EO dimension at the organizational level. Five dimensions were used to measure the EO level, namely risk-taking, innovativeness, competitive aggressiveness, proactiveness, and autonomy. The questionare’s was distributed to eight MSEs in Bandung. The sample size is 100 employee Structural Equation Model (SEM) analysis techniques with Partial Least Square (PLS) was used to test the samples. This research shows that the EO level in the micro and small enterprises in the traditional food centers in Bandung is at a moderate level. Although EO of MSEs in the traditional food centers in Bandung is in the moderate category, the results of testing on the EO model find out that each EO dimension forms a significant EO construct. The four dominant and recommended dimensions forming an EO construct in MSEs are risk-taking, innovativeness, competitive aggressiveness, and proactiveness. Among the four dimensions, risk-taking is the dominant dimension. It indicates that courage in taking risks in MSEs is a natural characteristic of the EO in the traditional food centers in Bandung.

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Section: Introductionmentioning

confidence: 99%

Entrepreneurial Orientation in Micro and Small Enterprises of Traditional Food Centers in Bandung, West Java

Purnomo

Permana

Qosasi

et al. 2019

Binus Business Review

View full text Add to dashboard Cite

show abstract

“…Further, it is our hope that engaging and applying these processes might have positive implications that reverberate well beyond the initial startup phase of new ventures. For example, establishing both hygiene and motivational factors in MVPs may enhance perceived investment potential of an early-stage venture (Cox et al., 2017) by enabling entrepreneurs to rely on consumers positive reactions as opposed to mere hopefulness or optimism (e.g., Wales et al., 2019). In summary, we believe that by clarifying the path to MVPs that will have a positive response from the environment, entrepreneurship educators will be able to more effectively provide structure for their students as they attempt to find product-market fit with their startups.…”

Section: Discussionmentioning

confidence: 99%

Two-Factor Learning for Launch: How Entrepreneurs Can Increase the Probability of Positive Responses to Their Minimum Viable Products

Lortie

Cox

Kelly

et al. 2021

Entrepreneurship Education and Pedagogy

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Lean startup methodologies are believed to reduce the overall risk and cost for launching new businesses. Many of these methodologies provide processes and tools that aid new entrepreneurs in their attempts to make informed decisions before, during, and after the launch of their minimum viable product (MVP). Drawing on theories from the Knowledge Based View, Organizational Learning, Lean Entrepreneurship, and Herzberg’s Two-Factor Theory of Hygiene and Motivating Factors, we propose a theoretical framework of incremental innovation and lean launch that is capable of increasing the probability of the MVP receiving a positive environmental response. Our framework models the phenomena of responses to MVPs within a specific market through knowledge of existing offerings and the ideas we introduce around satisfaction and dissatisfaction as two separate continuums of responses intended customers may have to MVPs. Additionally, we propose that the relationship between individual and organizational knowledge can be moderated by the individual’s level of embeddedness, and that the relationship between organizational knowledge and the environmental response to the MVP can be moderated by the organization’s capabilities and access to resources.

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“…Innovation is a central aspect of being an entrepreneur or entrepreneurial (Covin & Slevin, 1991; Schumpeter, 1947). This association suggests that conveying innovativeness should be rewarded in entrepreneurship, and in many cases, it is (e.g., Pan et al, 2020; Parhankangas & Ehrlich, 2014; Wales, Cox, Lortie, & Sproul, 2019). Crowdfunding, in particular, is positioned as a new form of entrepreneurial finance designed to bridge “the funding gap that plagues small, innovative firms” (Hervé & Schwienbacher, 2018, p. 1515), and crowdfunding backers are thought to expect such novelty of these ventures (Davis et al, 2017; Taeuscher et al, 2020).…”

Section: Theoretical Background and Hypothesesmentioning

confidence: 99%

Who can claim innovation and benefit from it? Gender and expectancy violations in reward‐based crowdfunding

Seigner

Milanov

McKenny

2022

Strategic Entrepreneurship

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Although reward-based crowdfunding is lauded for its promise to democratize funding for innovation, claiming innovation in campaign texts has an ambiguous link to crowdfunding performance. We draw from Expectancy Violations Theory (EVT) and, in a field study of 2,185 Kickstarter campaigns, find that innovation claims yield better fundraising performance for women than men, particularly in male-stereotyped categories. An experiment did not identify the expected indirect effects of innovation claims on crowdfunding performance through ability trustworthiness. However, it revealed that women are perceived as more able when launching campaigns in malestereotyped categories, suggesting that EVT and ability perceptions may still play an important but unhypothesized role. We extend research on the role of gender in crowdfunding and strategic entrepreneurship and make several suggestions for future research.

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Blowing Smoke? How Early-Stage Investors Interpret Hopeful Discourse within Entrepreneurially Oriented Business Plans

Cited by 5 publications

References 59 publications

Entrepreneurial Orientation in Micro and Small Enterprises of Traditional Food Centers in Bandung, West Java

Entrepreneurial Orientation in Micro and Small Enterprises of Traditional Food Centers in Bandung, West Java

Two-Factor Learning for Launch: How Entrepreneurs Can Increase the Probability of Positive Responses to Their Minimum Viable Products

Who can claim innovation and benefit from it? Gender and expectancy violations in reward‐based crowdfunding

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