Year: 2013
Type: dissertation
Abstract: Entrepreneurs have to constantly make decisions about the various\nopportunities available to them. Bad decisions can lead to the failure of a\nbusiness while good decisions will enable the business to grow and make a\npositive contribution to society and the economy. Understanding how\nsuccessful entrepreneurs make decisions about business opportunities will\nassist other entrepreneurs because this knowledge will equip them to run their\nown businesses more successfully.\nIn this particular research study, twelve successful entrepreneurs were\ninterviewed and asked about the way in which they make decisions about\nbusiness opportunities. Through a process of thematic analysis, the data\ncollected was woven into an innovative Grounded Theory that identified and\nexplained the heuristics entrepreneurs use when making decisions about\nopportunities.\nSeven heuristics emerged from the data and were ordered according to the\nfrequency of observation. The two most common heuristics included inputs\nrequired/outcomes desired and formal/emotional processes. The five less\nfrequent heuristics were classified as influence, environmental factors, risk and\ncontrol, commitment and balance.\nAn additional insight that was gained through the research process was that the\nentrepreneurial idea itself contributes little to the overall success of the business\nand an “action-orientated” focus was a far better contributor to ultimate success
Author: Kevin Croft
Language: English
Subfield: Management of Technology and Innovation
Domain: Social Sciences
Open Access status: green
Funder: University of Pretoria
OpenAlex ID: W3858150