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

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 w...

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Bibliographic Details
Published in:Journal of small business management 2020-03, Vol.58 (2), p.333-361
Main Authors: Furlotti, Marco, Podoynitsyna, Ksenia, Mauer, René
Format: Article
Language:English
Subjects:
control
effectuation
emergence
Entrepreneurs
Entrepreneurship
Means orientation
new venture performance
Novices
opportunity recognition belief
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Summary: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.
ISSN:0047-2778
1540-627X
DOI:10.1080/00472778.2019.1659681