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.

Chapter 9: Foundations of Prescriptive Entrepreneurship

James O. Fiet

Subjects: business and management, entrepreneurship


Key ideas This chapter summarizes some of the underlying assumptions and pedagogical implications of my approach to prescriptive entrepreneurship, what makes it different from descriptive entrepreneurship, and why that difference is critical for staying connected with students. It also summarizes the findings presented in this book, why they are important, what they mean programmatically and how they can advance entrepreneurship education. INTRODUCTION In this final chapter, I will review the guidelines developed in the preceding chapters. This review should be most helpful to non-academics although it still relies on technical arguments. For those with more theoretical interests, I will also organize and bring together information on the underlying assumptions and boundary conditions of each of the informational paradigms. These assumptions and boundary conditions can also serve as constraints for those who wish to use them to improve the practice of entrepreneurship. Those who have skipped directly to this chapter will probably find it useful to refer frequently to the glossary for definitions. Readers will also notice that I frequently repeat ideas to make them more transparent for those who are unfamiliar with the theoretical arguments. I have included the repetition even though it will probably not add much to the understanding of those who already know the theory. In doing so, I disclose my bias while addressing both scholars and practitioners, which is to improve the practice of entrepreneurship. 189 190 Inferences for theory and practice A THEORETICAL BASIS FOR PRESCRIPTIVE ENTREPRENEURSHIP Entrepreneurs launch ventures in the...

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