Dark, Down, and Destructive Side: Unveiling Negative Aspects of Unsuccessful Entrepreneurial Action

Abstract

Studies associated with critical analyses of entrepreneurship education (EE) highlight the predominance of literatures that focus greatly on the positive aspects of entrepreneurship. This can lead to cognitive bias, resulting in students developing more favorable and even enthusiastic perceptions of entrepreneurial action. To reduce this information asymmetry, the intention of this study was to identify and classify the diversity of negative aspects resulting from unsuccessful entrepreneurial action. For this purpose, we applied the content analysis technique to the transcripts of interviews with former entrepreneurs and stakeholders associated with entrepreneurial action, in addition to the texts of articles from important journals of Entrepreneurship and Small Business identified through a scope literature review. The analyses resulted in an artifact in the form of a taxonomy tree (available in https://thetripleds.com), comprising 3 super codes, 10 codes and 38 sub-codes, with definitions and examples of a wide range of negative aspects resulting from unsuccessful entrepreneurial actions. The focus of the artifact is to instruct, discuss and raise the awareness of future entrepreneurs regarding the risks of entrepreneurial action. Therefore, it is useful for professors of disciplines involving EE, as well as managers and technicians at incubators and other entities that provide support for entrepreneurs.