Making the Most of Failure Experiences: Exploring the Relationship Between Business Failure and the Identification of Business Opportunities

Brandon A. Mueller, Dean A. Shepherd

Research output: Contribution to journalArticleScientificpeer-review

29 Citations (Scopus)

Abstract

Although previous research has extolled the importance of business failure as a precursor to transformational learning, few studies have explored the conditions under which such learning occurs or the content of the resulting knowledge. We explore several cognitive moderators of the relationship between failure experiences and a specific type of opportunity identification knowledge-the use of structural alignment processes. Results indicate that learning from failure is facilitated for entrepreneurs who possess a cognitive toolset that consists of opportunity prototypes and an intuitive cognitive style. Moreover, we found that prior professional knowledge negatively moderates this relationship.
Original languageEnglish
Peer-reviewed scientific journalEntrepreneurship Theory and Practice
Volume40
Issue number3
Pages (from-to)457-487
Number of pages31
ISSN1042-2587
DOIs
Publication statusPublished - 2016
MoE publication typeA1 Journal article - refereed

Keywords

  • 512 Business and Management

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