Abstract
The entrepreneurial idea and opportunity are formed in the entrepreneurial process, which is characterized by entrepreneurial learning. During the entrepreneurial journey, the entrepreneur repeatedly reassesses the maturity of his business/venture idea and venture creation process to enter the market. The entrepreneur’s decisions are influenced by both objective and affective circumstances. This study aims to identify and map the fluctuations of idea–opportunity perception and affection by a student entrepreneur throughout the entrepreneurial learning journey simulating a genuine entrepreneurial (learning) process. The data collection of variables took place during an entrepreneurship course that modeled the entrepreneurial journey via process-based entrepreneurship training and applying feasibility and attractiveness self-assessment, observation and in-depth interviews. A small group of doctoral students developed their business ideas during a process-based entrepreneurship course. After each lesson and homework, they assessed the feasibility and attractiveness of their idea and opportunity. The results showed asynchronous fluctuations in these individual context-based perception variables, frequently depending on the progression of the entrepreneurial journey. The study added the concept of affective artifact and some generalizing dimensions to describe the entrepreneurial journey. Recommendations are given for the implementation and research of entrepreneurial process-based training.
Highlights
Entrepreneurial cognition has recently become a subject of interest among entrepreneurship researchers (McMullen et al 2014)
The results of measurements indicate the assessments of student entrepreneurs about the feasibility and attractiveness of their business ideas and entrepreneurial opportunities throughout the observed part of the entrepreneurial journey
As the entrepreneurial learning journey did not lead to a new venture launch during the course, there was no possibility to check the validity of the assessments in terms of the feasibility of the business
Summary
Entrepreneurial cognition has recently become a subject of interest among entrepreneurship researchers (McMullen et al 2014). There has been an increasing interest in understanding the impact of affect on behavior (Baumeister et al 2007; Forgas 1995; Schwarz and Clore 2007). Researchers have viewed this subject from many angles; there is still much to be studied in the affective fluctuation. 5) argue that ‘on the basis of dynamics, complexity and uncertainty of the entrepreneurial process, the emotional state in decision making may affect the judgment and results of entrepreneurs differently, and emotions may play an important role in it’ Affect is a continuous and unstable phenomenon that should be studied in dynamics. Su et al (2020, p. 5) argue that ‘on the basis of dynamics, complexity and uncertainty of the entrepreneurial process, the emotional state in decision making may affect the judgment and results of entrepreneurs differently, and emotions may play an important role in it’
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