Means versus goals at the starting line: Performance and conditions of effectiveness of entrepreneurial action

Abstract

Various theoretical perspectives suggest that a means-oriented approach to new venture development can be a viable alternative to the conventional approach, which emphasizes predetermined goals, and that the former is favored by expert entrepreneurs. However, it is still unclear whether, and under which conditions, means-based action positively affects entrepreneurial performance and whether it would also be effective for novices. This study demonstrates the new venture performance impact of means orientation. We further contribute to various strands of entrepreneurship research by highlighting two moderating factors that are salient in the early-stage entrepreneurial process: opportunity recognition beliefs and process control practices.

Entrepreneurial Decision-Making Methods: The Evolution and Research Agenda

“…At the same time, the three entrepreneurial decision-making methods are not opposing, either/or relationships, and they can exist simultaneously. The findings of scholars such as Szambelan and Jiang (2020) and Furlotti et al (2020) show that entrepreneurs do not use only one entrepreneurial method in their entrepreneurial decision making [22]. They use different dimensions of several entrepreneurial decision-making methods to improve entrepreneurial performance depending on the decision goal, entrepreneurial context.…”

Does opportunity co-creation help the poor entrepreneurs? Evidence from China

“…Even with obstacles in the entrepreneurial process, entrepreneurs with a strong opportunity belief can overcome them confidently (Zou et al, 2016). In other words, the entrepreneur's opportunity belief can greatly promote the development of entrepreneurial activities, promoting entrepreneurial performance (Furlotti et al, 2020). Based on the discussion, the following hypothesis is proposed:…”

The spectrum of perceived uncertainty and entrepreneurial orientation: Impacts on effectuation

“…Means-driven approach enables decision makers to start pursuing their aspirations by utilizing their existing means which are mostly intangible means and therefore provide the decision makers with a certain degree of affordable lose. Means-driven approach enables decision-makers to address the lower levels of uncertainty by utilizing their means, and activating their social capital to access other selfselected stakeholders' resources (Furlotti, Podoynitsyna & Mauer, 2020). However, when uncertainty raises, emotional engagement of the decision makers with their means and aspirations raises as well (Delgado Garcia, De Quevedo Puente & Blanco Mazagatos, 2015;…”