Foundations and Trends® in Entrepreneurship > Vol 18 > Issue 3

Understanding Entrepreneurial Failure: Conceptualizing Failure, Taking Stock, and Broadening the Scope of Failure Research

By Anna Jenkins, The University of Queensland, Australia, a.jenkins@business.uq.edu.au

 
Suggested Citation
Anna Jenkins (2022), "Understanding Entrepreneurial Failure: Conceptualizing Failure, Taking Stock, and Broadening the Scope of Failure Research", Foundations and TrendsĀ® in Entrepreneurship: Vol. 18: No. 3, pp 159-211. http://dx.doi.org/10.1561/0300000081

Publication Date: 16 Mar 2022
© 2022 A. Jenkins
 
Subjects
Psychology of entrepreneurship,  Firm ownership,  Organizational behavior
 

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In this article:
1. Introduction
2. Conceptualizing Entrepreneurial Failure
3. The Impact of Entrepreneurial Failure
4. Theoretical Approaches
5. Methodological Approaches
6. Future Research
7. Conclusions
References

Abstract

Research on entrepreneurial failure has developed considerably over the past ten years. There is now a growing body of literature focusing on the impact entrepreneurial failure has on entrepreneurs. Insights from this work provide valuable knowledge on how entrepreneurs learn from failure experience, the antecedents to habitual entrepreneurship, and the well-being and financial risks of independent entrepreneurship. I take stock of the emerging body of literature on entrepreneurial failure with a focus on how failure has been conceptualized, the impact that failure has on entrepreneurs, and the different theoretical and methodical approaches taken to understand failure, to lay the foundation for identifying new avenues for future research.

DOI:10.1561/0300000081
ISBN: 978-1-68083-950-0
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Table of contents:
1. Introduction
2. Conceptualizing Entrepreneurial Failure
3. The Impact of Entrepreneurial Failure
4. Theoretical Approaches
5. Methodological Approaches
6. Future Research
7. Conclusions
References

Understanding Entrepreneurial Failure: Conceptualizing Failure, Taking Stock, and Broadening the Scope of Failure Research

Failure is inherent to the entrepreneurship process, yet, this frequent outcome from entrepreneurial efforts was overlooked. The entrepreneurship field has started to take failure seriously, with a growing body of literature focusing on the impact that failure has on entrepreneurs. Insights from entrepreneurial failure have the potential to provide valuable knowledge on how entrepreneurs learn from experience, the antecedents to habitual entrepreneurship, and the well-being and financial risks of independent entrepreneurship. Understanding Entrepreneurial Failure takes stock of the emerging body of literature on entrepreneurial failure with a focus on how failure has been conceptualized, the impact that failure has on entrepreneurs, and the different theoretical and methodical approaches taken to understand failure to lay the foundation for identifying new avenues for future research. This review is focused on entrepreneurial failure in the context of independent entrepreneurship where the entrepreneur and their business are tightly intertwined.

 
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