Entrepreneurship Theories

  Serial entrepreneurship refers to the repeated behaviours of entrepreneur.     “There are two types of entrepreneurs: novice entrepreneurs, who launch a business for the first time, and habitual entrepreneurs, which include serial entrepreneurs, who launch businesses sequentially, and portfolio entrepreneurs, who run multiple businesses concurrently.” ( Plehn-Dujowich, 2010)   Plehn-Dujowich suggests that serial entrepreneurs differ substantially from first time entrepreneurs. They argue that the serial entrepreneurs develop new capabilities over time that makes them more effective entrepreneurs. For instance, they may develop heuristics that guide their decision processes that reduce the analysis task needed to assess risks. These types of advantage lead to equal or higher success rates for serial entrepreneurs and a higher likelihood of sticking to entrepreneurship as a career choice. Serial entrepreneurship theory starts with the idea that entrepreneurs need to decide wh

Could your physiology make you more entrepreneurial? Research examining the physiology of entrepreneurs is rather new and underdeveloped. Very little is known about how our physiology can affect our propensity for entrepreneurship. One study examined how testosterone level experienced in the womb can affect us. Testosterone exposure in utero is linked to competitiveness, aggressiveness, and other traits that have been linked to some extend with entrepreneurs.[1]   The researchers used a technique of measuring finger length ratios that are markers of testosterone exposure. Survey respondents where supplied with rulers and instructions and self-reported the lengths of their index and ring fingers. To calculate the ratio (2D:4D), one divides the length of the index finger by the length of the ring finger on the same hand. A higher ratio (i.e., relatively long index finger) is associated with many different traits including sexuality, aggressiveness, assertiveness, unprovoked violence, etc

Born global startups are ventures that start thinking and acting globally in their early stages of development, which utilize international markets and resources to scale their growth. Attention to born global startups comes from a stream of theory and research that examines how startups rapidly internationalize their new ventures (Knight and Cavusgil, 2004). Traditionally, entrepreneurs would focus on domestic markets first and then pursue internationalization gradually as they develop the requisite skills through trial and error. Modern advances in internet technologies, global talent flows, and international supply chains have substantially lowered the cost for entrepreneurs to internationalize (McCormick & Somaya, 2020). They have also made it possible for startups to address global markets from the very beginning of their existence. Entrepreneurs can now bypass many of their home-country constraints such as government inefficiencies and physical location (McCormick & Somay

Informal entrepreneurship refers to economic activity that occurs outside of the formal economy, which is typically characterized by the absence of legal and regulatory frameworks. This type of entrepreneurship is often associated with small-scale, unregistered, and unregulated businesses that operate in the informal sector. The informal economy is made up of a diverse range of activities, including street vending, artisanal production, and home-based businesses, among others. While these businesses may provide a means of livelihood for individuals and communities, they often face significant barriers to growth and sustainability due to their lack of access to formal financing, legal protections, and other resources. In contrast, the formal economy is the part of the economy that is recognized and regulated by government institutions. Companies and entrepreneurs operating in the formal economy are required to pay taxes, adhere to labour laws and regulations, and obtain necessary licens

Do slackers have an advantage in entrepreneurship? This theory is passed around more as rumour than formal theoretical framework. The theory starts with a premise about how entrepreneurial ventures come about. Entrepreneurial opportunities are viewed as difficult to discover or create, requiring a lot of time and trial and error. Perhaps slacker have nothing more important to do, allowing them the resilience to keep trying, even after repeated failures.   Perhaps individuals who are not particularly motivated or hardworking can still become successful entrepreneurs. By embracing a more laid-back approach to work, entrepreneurs may find creative and innovative solutions to problems that others might overlook. The idea of the slacker theory of entrepreneurship challenges the conventional wisdom that success in business requires long hours and a relentless work ethic. Instead, it suggests that entrepreneurs who are willing to take risks and think outside the box can find success even if