A Practice-Based Approach
Entrepreneurship is about experimenting - trying something, seeing what the results are, learning from the results, and then trying it again. Jeff Bezos, founder of Amazon.com, identifies experimentation as one of the core principles of the company. Other entrepreneurs will tell you that experimentation is imperative for their ventures, because this is how new innovations, initiatives, ideas, and opportunities are discovered or created. A new technology company would have a concept prototype, while a new organic food venture would experiment with recipes and flavors. Fashion ventures experiment with designs, fabrics, distributions, and brands, while drug companies experiment with trials and tests. Automotive companies have concept cars; food companies experiment with new foods and flavors. Tech companies often have "labs" like Google Labs; and many high-performing companies, like Google, allow their employees to experiment. Even sports teams experiment with new plays and/or players. Experimentation is everywhere and is always happening. Experimentation is, by definition, a scientific process. Merriam-Webster's Dictionary defines experiment as "a test or trial," "a tentative procedure or policy," and "an operation or procedure carried out under controlled conditions in order to discover an unknown effect or law, to test or establish a hypothesis, or to illustrate a known law."
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.