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Ziad El-Awad. Photo

Ziad El-Awad

Senior lecturer

Ziad El-Awad. Photo

Explore or exploit? Unpacking the situational conditions and cognitive mechanisms underlying entrepreneurial learning in the new venture development process

Author

  • Ziad El-Awad

Summary, in English

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.

Department/s

  • Entrepreneurship

Publishing year

2023

Language

English

Pages

162-186

Publication/Series

Entrepreneurship and Regional Development

Volume

35

Issue

1-2

Document type

Journal article

Publisher

Taylor & Francis

Topic

  • Business Administration

Keywords

  • Entrepreneurial learning
  • collaborative sensemaking
  • perceived uncertainty
  • experience
  • exploration and exploitation

Status

Published

ISBN/ISSN/Other

  • ISSN: 0898-5626