Entrepreneurial learning in the context of portfolio entrepreneurship

Abstract

PurposePrevious research has predominantly focused on the meaning of prior entrepreneurial experience in the context of habitual entrepreneurship. To date, however, little is known about how previous experience affects the way in which several firms can be managed simultaneously. The purpose of this study is to examine entrepreneurial learning in the context of portfolio entrepreneurship and clarify how it is possible to manage several firms at the same time.Design/methodology/approachAn exploratory study using a case method was conducted (Eisenhardt; Yin) by focusing on one portfolio entrepreneur. In this study, the case can be considered as unusual thus being suitable for a single‐case study. Data were collected through interviews and the entrepreneur also provided the researchers with a written description of the development and present situation of his entrepreneurial career.FindingsThis study proposes that failures may develop entrepreneurial knowledge as well as founding experiences. Development of entrepreneurial knowledge is viewed as leading to new ways of organizing and managing start‐up firms. Learning through previous experiences has strengthened entrepreneurial knowledge and contributed to the formation of the management team (MT). Without cooperation, delegation and sharing responsibilities, successful portfolio entrepreneurship would not have been realized. However, the results suggest that learning from failure is dependent on the entrepreneur's personal background.Originality/valueThis study seeks to bring new insight to portfolio entrepreneurship by concentrating on the entrepreneurial career of a well‐known Finnish entrepreneur by following the framework of Politis. In this case, a MT in each firm enabled effective control and management of the current firm portfolio. The study shows that in addition to the entrepreneurial team, the management teams can also have a significant role in the context of portfolio entrepreneurship although they have largely been ignored.

Entrepreneurial Learning: Past Research and Future Challenges

“…Within this context, the research focus spans independent new start‐ups (e.g. Honig ; Huovinen and Tihula ; Karataş‐Özkan ; Nicholls‐Nixon et al . ), university spin‐offs (Clarysse and Moray ) and start‐ups in incubators (Hughes et al .…”

“…Specifically, European researchers often emphasize the subjective nature of knowledge and adopt a qualitative approach to understanding the experiential nature of EL (e.g. Clarysse and Moray 2004;Cope 2003Cope , 2005Cope and Watts 2000;Deakins and Freel 1998;García-Cabrera and García-Soto 2009;Huovinen and Tihula 2008) and the socially constructed nature of EL (e.g. Lee and Jones 2008;Lee and Williams 2007;Rae 2000Rae , 2005Rae , 2006Rae and Carswell 2001;Taylor and Thorpe 2004;Thorpe et al 2006).…”

Successive failure, repeat entrepreneurship and no learning: A case study

“…Learning from failure can add to what we know about entrepreneurial learning (Huovinen & Tihula, 2007). Alternatively, if exploiting new opportunities causes failure, then understanding how it happens can help to prevent failure.…”

Serial entrepreneur and entrepreneurial learning – a case study from Finland

“…The main aim is to illustrate how serial entrepreneurs can utilise their previous entrepreneurial experiences in their subsequent companies. There are only very few case studies related to habitual entrepreneurs (for one of the most recent case studies, see Huovinen and Tihula, 2008), and hardly any of these focus on the phenomenon of entrepreneurial learning in serial entrepreneurship.…”