Entrepreneurial path: decoupling the complexity of entrepreneurial realisation

Galanakis, K. ORCID: 0000-0002-1320-2475 and Giourka, P., 2017. Entrepreneurial path: decoupling the complexity of entrepreneurial realisation. International Journal of Entrepreneurial Behaviour and Research, 23 (2), pp. 317-335. ISSN 1355-2554

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Purpose (mandatory): The objective of this paper is to synthesise the socioeconomic context, personality, knowledge and social capital into a systemic framework, named the 'Entrepreneurial Path', that demonstrates the process of transforming initial entrepreneurial intentions to a growing venture. This systemic framework decouples the overall complexity of the entrepreneurial realisation to three main subsystems: entrepreneurial intentions and venture idea formation; barriers of transition from nascent to active entrepreneur; and, active and growing ventures.
Design/methodology/approach (mandatory): The paper employs a systemic thinking approach to decouple the complexity of the subject. Survey techniques and digital social network discussion forums were used for the collection of primary qualitative data from multiple stakeholders.
Findings (mandatory): The conceptual framework, named the Entrepreneurial Path, highlights the importance of different factors at each stage of the entrepreneurial realisation. Especially the importance of factors such as perceived desirability, feasibility, self-efficacy, network ties and social capital have been identified as central. Needs for managerial skills and resources for the new venture come to play only on the later stage. Each of those factors though, play a distinctive role in the different stages of the realisation and in dependence to the maturity of the entrepreneurial context.
Research limitations/implications (if applicable): Further research may examine whether these factors that have been identified by successful entrepreneurs and stakeholders are reflecting the experience for those who have not been successful in their effort to create their venture.
Practical implications (if applicable): The Entrepreneurial Path provides a supportive tool for: academics designing focused entrepreneurship education programmes and research; managers in intermediate structures to identify the specific needs of nascent and early stage entrepreneurs in comparison to the needs of entrepreneurs in the growth stage; and, for policy makers prioritising on supportive structures and institutions directing their actions to specific stages or barriers of the process or creating holistic and evolving structures based on the maturity of the entrepreneurial context.
Social implications (if applicable)
Originality/value (mandatory): The decoupling of the process of transforming initial entrepreneurial intentions to a growing venture demonstrates that different approaches are required in order to foster each one of the factors identified. Focusing on activities and resources on one stage at the time, or presenting parallel activities that reflect the different level of maturity of regions, institutions, individuals and societal perceptions may provide better service to nascent and active entrepreneurs, than considering treating entrepreneurial intentions as a unified process.

Item Type: Journal article
Alternative Title: Entrepreneurial circuit: a systemic framework for an entrepreneurial path
Publication Title: International Journal of Entrepreneurial Behaviour and Research
Creators: Galanakis, K. and Giourka, P.
Publisher: Emerald
Date: 13 March 2017
Volume: 23
Number: 2
ISSN: 1355-2554
Divisions: Schools > Nottingham Business School
Record created by: Linda Sullivan
Date Added: 12 Jan 2017 16:38
Last Modified: 07 Jun 2019 13:37
URI: https://irep.ntu.ac.uk/id/eprint/29674

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