Effective heuristics for new venture formation


Kraaijenbrink, Jeroen (2010) Effective heuristics for new venture formation. In: Babson College Research Entrepreneurship Conference, BCERC 2010, June 9-12, 2010, Lausanne, Switzerland.

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Abstract:Entrepreneurs are often under time pressure and may only have a short window of opportunity to launch their new venture. This means they often have no time for rational analytical decisions and rather rely on heuristics. Past research on entrepreneurial heuristics has primarily focused on predictive modes of control. Studies have analyzed the heuristics that entrepreneurs use when they try to predict the future value and success chances of opportunities. There is increasing awareness – particularly resulting from studies on effectuation – that entrepreneurs engage in non-predictive control as well. While entrepreneurs also use heuristics in this alternative mode of control, these have hardly been studied so far. This conceptual paper addresses this gap in the literature by exploring the heuristics associated with both approaches and by theorizing the conditions under which they are likely to be effective.
Item Type:Conference or Workshop Item
Faculty of Behavioural, Management and Social sciences (BMS)
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Link to this item:http://purl.utwente.nl/publications/73698
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