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Explore or exploit? Unpacking the situational conditions and cognitive mechanisms underlying entrepreneurial learning in the new venture development process
Halmstad University, School of Business, Innovation and Sustainability. Sten K. Johnson Centre for Entrepreneurship, Lund, Sweden.
2023 (English)In: Entrepreneurship and Regional Development, ISSN 0898-5626, E-ISSN 1464-5114, Vol. 35, no 1-2, p. 162-186Article in journal (Refereed) Published
Abstract [en]

This study explores when and why entrepreneurs choose entrepreneurial learning strategies that emphasize exploration or exploitation. Most studies have focused on explaining the different characteristics of exploration and exploitation, their performance implications, whether they are complementarities or substitutes and how particular organizational structures can support their coexistence. We apply a process design building on four research-based spinoffs observing how changes in entrepreneurs’ choices of exploration and exploitation occur as they identify and adopt a viable configuration for their ventures. In this study, we develop a theoretical model that reveals the situational conditions and mechanisms underlying entrepreneurs’ learning choices and highlights different knowledge typologies and competence gaps that new venture teams need to fill when dealing with uncertainties and performance errors. © 2022 The Author(s). Published by Informa UK Limited, trading as Taylor & Francis Group.

Place, publisher, year, edition, pages
Oxon: Routledge, 2023. Vol. 35, no 1-2, p. 162-186
Keywords [en]
collaborative sensemaking, entrepreneurial learning, experience, exploration and exploitation, perceived uncertainty
National Category
Business Administration
Identifiers
URN: urn:nbn:se:hh:diva-48783DOI: 10.1080/08985626.2022.2143573ISI: 000888456900001Scopus ID: 2-s2.0-85142220841OAI: oai:DiVA.org:hh-48783DiVA, id: diva2:1717276
Available from: 2022-12-08 Created: 2022-12-08 Last updated: 2023-01-12Bibliographically approved

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El-Awad, Ziad

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