Entrepreneurial learning and strategic foresight
نویسندگان
چکیده
Research Summary We study how learning by experience across projects affects an entrepreneur's strategic foresight. In a quantitative of 314 entrepreneurs 722 crowdfunded supplemented with program qualitative interviews, we counterintuitively find that make less accurate predictions as they gain executing projects: miss their predicted timeline to bring product market nearly six additional weeks on each successive project. Although should improve prediction accuracy in principle, argue also learn opportunities augment product, which drastically expands the interdependencies beyond what entrepreneur can anticipate. encounter more unforeseen subsequent projects, and sacrifice on-time delivery address these interdependencies. Managerial Entrepreneurs consistently struggle set timelines meet. And, counterintuitively, accumulating actually this problem even worse: experienced wider margins projects. our crowdfunding launching hardware technology products, fail anticipate many things go wrong when do something just little bit challenging next other words, number unknown unknowns project increases very rapidly making only simple improvements product. accurately predict intentionally accounting for rapid increase wrong.
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ژورنال
عنوان ژورنال: Strategic Management Journal
سال: 2021
ISSN: ['0143-2095', '1097-0266']
DOI: https://doi.org/10.1002/smj.3327