Successful entrepreneurs minimize risk/ created by Johann Peter Murmann and Deepak Sardana

By:

Murmann, Johann Peter [author]

Contributor(s):

Sardana, Deepak [co author]

Material type: Text

TextSeries: Australian journal of management ; Volume 38, number 1Los Angeles : Sage, 2013Content type:

text

Media type:

unmediated

Carrier type:

volume

ISSN:

03128962

Subject(s):

Entrepreneurial decision making -- Entrepreneurial risk taking -- New ventures

LOC classification:

HD31 AUS

Online resources:

Click here to access online

Abstract: Many scholars see entrepreneurs as action-oriented individuals who use rules of thumb and other mental heuristics to make decisions, but who do little systematic planning and analysis. We argue that what distinguishes successful from unsuccessful entrepreneurs is precisely that the former vary their decision-making styles, sometimes relying on heuristics and sometimes relying on systematic analysis. In our proposed framework, successful entrepreneurs assess their level of expertise and the level of ambiguity in a particular decision context and then tailor their decision-making process to reduce risk.

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Holdings
Item type	Current library	Call number	Vol info	Status	Notes	Date due	Barcode
Journal Article	Main Library - Special Collections	HD31 AUS (Browse shelf(Opens below))	Vol. 38, no.1 (pages 191-215)	Not for loan	For in house use only

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Many scholars see entrepreneurs as action-oriented individuals who use rules of thumb and other mental heuristics to make decisions, but who do little systematic planning and analysis. We argue that what distinguishes successful from unsuccessful entrepreneurs is precisely that the former vary their decision-making styles, sometimes relying on heuristics and sometimes relying on systematic analysis. In our proposed framework, successful entrepreneurs assess their level of expertise and the level of ambiguity in a particular decision context and then tailor their decision-making process to reduce risk.

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