Experiential learning theory and hybrid entrepreneurship: factors influencing the transition to full-time entrepreneurship

Abstract

PurposeThrough the lens of experiential learning theory, this conceptual paper examines the factors influencing the likelihood of transitioning from hybrid to full-time entrepreneurship. It is critical to evaluate the experiential learning that takes place during the hybrid phase, in order to establish a more nuanced understanding of the dynamic entrepreneurial journey.Design/methodology/approachThis conceptual paper made use of a secondary data analysis of the existing academic literature, in particular using a thematic analysis, in order to propose a conceptual model and associated propositions.FindingsThe proposed conceptual model identifies four factors: fear of failure, perceived risk, entrepreneurial competency development and self-efficacy that are predicted to influence the transition decision. This paper establishes hybrid entrepreneurship as an effective learning ground and path toward full-time entrepreneurship.Practical implicationsProviding insights into the factors that influence the transition, allows policy makers to establish systems and incubators to support hybrid entrepreneurs reach the tipping point at which they have sufficient knowledge to enter full-time entrepreneurship. This paper establishes the importance of developmental policies aimed at encouraging hybrid entrepreneurship. There are also implications for managers of hybrid entrepreneurs to establish policies that encourage a culture of transparency and reap the benefits of enhanced employee development.Originality/valueThe paper has three predominant sources of value. First, offering a multidisciplinary approach by extending an existing theory to a new context; second, through the establishment of a conceptual model, offering propositions readily linked to hypotheses for future empirical assessment and third, enhancing the visibility of hybrid entrepreneurship in the literature to encourage public policy intervention and support.

Underpinning the entrepreneurship educator’s toolkit: conceptualising the influence of educational philosophies and theory

“…However, cognitivism alone is likely to struggle to fully prepare learners for entrepreneurship due to its limited ability to help learners to relate experience to knowledge and context through reflection which is important within entrepreneurship. The ability for entrepreneurs to understand 'how' and be able to learn from their entrepreneurial experiences has been highlighted as crucial to the entrepreneurial process (Ferreira 2020).…”

“…However, in terms of entrepreneurial development, cognitivism does not take into consideration the arguably experiential nature of entrepreneurial learning (Rae 2005) that comes as a result of learning from doing and reflecting on the process (Cope 2005;Mezirow 1990). Therefore, in the context of preparing learners for entrepreneurship, cognitivist approaches are limited as they disregard the importance of developing reflexivity and self-awareness (Ferreira 2020). Constructivism has been posited to overcome several of the shortcomings in preparing learners for entrepreneurship, which have been levelled at approaches based on behaviourism and cognitivism.…”

‘What’s puzzling you is the nature of my game’: What the grand narrative of entrepreneurship doesn’t say

“…Entrepreneurship within a Higher Education Institution should ideally have a strong experiential learning component (Ferreira, 2020). Therefore, those institutions that do not have a strong experiential component can encourage students to gain particular skills for a particular industry through project based learning.…”

Preparing future entrepreneurs: reflections about the COVID-19 impacts on the entrepreneurial potential of Brazilian students

“…Educators can ask if students can support the situation. Interesting studies about the entrepreneurial profile and behaviours are cited here and can be used by educators: (Brundin and Gustafsson, 2013; Espinoza-Benavides and Díaz, 2019; Ferreira, 2020; Korber and McNaughton, 2018; Ratten, 2020b; Vasconcelos Gomes et al , 2018).…”