Resolving the Risk Paradox: Entrepreneurial Cognition in the Lean Startup Method

The relationships between entrepreneurial orientation and both entrepreneurial intention and entrepreneurial self-efficacy for searching for new ideas strengthen during the Lean Startup Method. Moreover, although the 99 students in a graduate business class did not show a significant change in their...

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Bibliographic Details
Published in:The journal of applied business and economics 2017-12, Vol.19 (11/12), p.28-42
Main Authors: Ladd, Ted, Kendall, Lori
Format: Article
Language:English
Subjects:
Aggressiveness
Cognition & reasoning
Entrepreneurs
Entrepreneurship
Entrepreneurship education
Hypotheses
Literature reviews
Pedagogy
Startups
Strategic management
Students
Studies
Success
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Summary:The relationships between entrepreneurial orientation and both entrepreneurial intention and entrepreneurial self-efficacy for searching for new ideas strengthen during the Lean Startup Method. Moreover, although the 99 students in a graduate business class did not show a significant change in their traits of aggressiveness, autonomy, and innovativeness, they displayed a significant decline in their proclivity to take risks. These results conclude that the Lean process alters entrepreneurs ' cognition to both increase the likelihood of new venture creation and yet reduce the deleterious impacts of imprudent risk-taking in subsequent decisions.
ISSN:1499-691X