Prescriptive Entrepreneurship

Prescriptive Entrepreneurship

James O. Fiet

In the only known programme of prescriptive entrepreneurship, James Fiet provides a marked contrast to the standard descriptive focus of entrepreneurship studies. Instead of the anecdotally based pedagogies that have dominated the teaching of entrepreneurship (and which do not control for luck-based success), the author lays out a programme of research to develop and test theoretically derived guidelines for how to improve the success rate and performance of aspiring entrepreneurs. Rather than describing what entrepreneurs do, he prescribes and tests what they ought to do.

Preface

James O. Fiet

Subjects: business and management, entrepreneurship

Extract

The chances are that you are like me. No one in my family has ever been an entrepreneur. I had no role models to follow, and you probably did not have any either. I received my first exposure 35 years ago as a student in one of the first university entrepreneurship programs. It was really fun, but I did not learn anything of practical or theoretical value that would later guide my own career. If you launched your entrepreneurial career the same way that I did, I bet that you have a similar story to share about what you did not learn in school. The war stories were motivational, but not very enlightening, especially when I realized that the chances of me encountering similar situations later in life were quite remote. After 14 years as an entrepreneur, I returned to graduate school hoping to learn something about theory that I had missed the first time. Once again, I was drawn to entrepreneurship. However, I continued to be disappointed that scholars had not uncovered much theory to guide aspiring entrepreneurs. This feeling was compounded and reaffirmed when I launched the first entrepreneurship course at the university where I took my first faculty position. I felt abandoned when I looked at the available textbooks, none of which in my view, offered theoretically-derived prescriptions that had actually been shown to improve performance. Although lacking in tested theory, these earlier efforts were sincere contributions on which the field of entrepreneurship subsequently...