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New Venture Creation in the Realm of Practicable Choice

Author

Listed:
  • Robert A. DESMAN

    (Coles College of Business, Kennesaw State University, Georgia, USA)

Abstract

The entrepreneurial event is a contingency from which entrepreneurial behaviour precipitates. It is a temporal confluence among some external cue that implies an extant, potential, or possible opportunity; a perception of the cue implications; and, an entrepreneurial response. It begins with recognizing and evaluating an opportunity and ends with a venture concept and entity to harness that opportunity (Stevenson, Roberts & Grousbeck, 1989). New venture creation is, thus, the product of a decision process. And, these decisions are often fraught with biases (Wickham, 2003). This raises an important question. What conditions dictate practicable reasons for starting a new venture? Heretofore, the corpus of new venture contributions has focused on the variables that seem associated with launch decisions. Conspicuously absent is an examination of the decisions themselves and the conditions that dictate if they reflect objectively sound judgment. This paper explores these decisions through the lenses of reality, feasibility, and desirability.

Suggested Citation

  • Robert A. DESMAN, 2009. "New Venture Creation in the Realm of Practicable Choice," REVISTA DE MANAGEMENT COMPARAT INTERNATIONAL/REVIEW OF INTERNATIONAL COMPARATIVE MANAGEMENT, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 10(4), pages 770-780, October.
    • Handle: RePEc:rom:rmcimn:v:10:y:2009:i:4:p:770-780
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    References listed on IDEAS

    as
    1. Donald F. Kuratko & David B. Audretsch, 2009. "Strategic Entrepreneurship: Exploring Different Perspectives of an Emerging Concept," Entrepreneurship Theory and Practice, , vol. 33(1), pages 1-17, January.
    2. Zahra, Shaker A., 1996. "Technology strategy and new venture performance: A study of corporate-sponsored and independent biotechnology ventures," Journal of Business Venturing, Elsevier, vol. 11(4), pages 289-321, July.
    3. Blomstrom, Magnus & Sjoholm, Fredrik, 1999. "Technology transfer and spillovers: Does local participation with multinationals matter?1," European Economic Review, Elsevier, vol. 43(4-6), pages 915-923, April.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    new venture; entrepreneur; decision making; SME; business failure.;
    All these keywords.

    JEL classification:

    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups
    • B25 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Historical; Institutional; Evolutionary; Austrian; Stockholm School

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