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Uncertain but able: Entrepreneurial self-efficacy and novices' use of expert decision-logic under uncertainty

Uncertain but able: Entrepreneurial self-efficacy and novices' use of expert decision-logic under uncertainty

Engel, Yuval, Dimitrova, Nicoletta G. ORCID: 0000-0001-9147-7987, Khapova, Svetlana N. and Elfring, Tom (2014) Uncertain but able: Entrepreneurial self-efficacy and novices' use of expert decision-logic under uncertainty. Journal of Business Venturing Insights, 1-2. pp. 12-17. ISSN 2352-6734 (doi:https://doi.org/10.1016/j.jbvi.2014.09.002)

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Abstract

Entrepreneurs׳ initial strategy choices are made in the face of inherently uncertain and fundamentally unpredictable futures. Yet, unlike experts, novice entrepreneurs still tend to rely on predictions and forecasts as they move their ideas through the venture creation process. This study examines the role of entrepreneurial self-efficacy (ESE) and situational framing in mitigating the seemingly negative consequences of an “experience deficit” and promoting the use of effectuation - a non-predictive logic associated with entrepreneurial expertise. The results of a randomized experiment show that, in contrast to a control group and a low ESE group, novices who experienced an increase in ESE were more likely to use effectuation under uncertainty. This relationship was mediated by the framing of the situation as an opportunity.

Item Type: Article
Uncontrolled Keywords: Effectuation; Entrepreneurial self-efficacy; Opportunity; Uncertainty; Experiment
Faculty / Department / Research Group: Faculty of Business
Faculty of Business > Department of Human Resources & Organisational Behaviour
Last Modified: 17 May 2019 14:30
Selected for GREAT 2016: None
Selected for GREAT 2017: None
Selected for GREAT 2018: GREAT c
Selected for GREAT 2019: GREAT 2
URI: http://gala.gre.ac.uk/id/eprint/18568

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