Entrepreneurship as Experience

Entrepreneurship as Experience

How Events Create Ventures and Ventures Create Entrepreneurs

Michael H. Morris, Christopher G. Pryor and Minet Schindehutte

Do entrepreneurs create ventures or do venture experiences create entrepreneurs? The authors of Entrepreneurship as Experience propose that the answer is ‘both’. This important volume examines how individuals experience the creation of a venture as it happens and how that experience determines the types of entrepreneur and venture that ultimately emerge.

Chapter 11: Comparing Experiences of Different Types of Entrepreneurs

Michael H. Morris, Christopher G. Pryor and Minet Schindehutte

Subjects: business and management, entrepreneurship


* A thing may be present to a man a hundred times, but if he persistently fails to notice it, it cannot be said to enter into his experience. . . . On the other hand, a thing met only once in a lifetime may leave an indelible experience in the memory. (William James, 1890) INTRODUCTION In this chapter, we explore how venture creation might be experienced in unique ways by different individuals. Specifically, we compare differences in the affective experiences between founders of family and non-family ventures, and between family business founders and non-family managers in the same venture. A methodology is introduced for measuring the affective experiences of each of these three groups and drawing comparisons among them. We focus on family versus non-family businesses because of fundamental differences in the two contexts. Beyond the challenges of inter-generational succession, family firms are distinguished by their governance structures, stakeholders, planning time horizons, capital structures, motives of founders and top managers, risk proclivity, compensation systems, and measures of success (Klein and Bell, 2007; Sirmon and Hitt, 2003). Further, family businesses are fertile fields for psychodynamics such as sibling rivalry, marital discord, and identity conflict among family members – where family issues affect business issues and vice versa. These characteristics suggest the founder is assimilating a diverse range of experiences distinguishing the family venture from its non-family counterparts. The experience of the family business founder might also be expected to vary from that of non-family managers within the same firm. Nonfamily members play a significant role...

You are not authenticated to view the full text of this chapter or article.

Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.

Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.

Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.

Further information