Please use this identifier to cite or link to this item: http://hdl.handle.net/1959.3/54294

Download PDF (Published version) (Adobe Acrobat PDF, -1 bytes)

Title

Venture failure: commonalities and causes

Author(s)

Gulst, Noga;  Maritz, Alex

Abstract

We discuss venture failure as the first stage of a work in progress process, with stage two consisting of an empirical study in a predetermined entrepreneurial setting. This study places emphasis on Stage I, with the aim of developing a conceptual framework to facilitate the success of new ventures commenced by nascent and novice entrepreneurs. We place emphasis on the success of entrepreneurs, as opposed to their ventures. We add to the literature by adapting and integrating many schools of thought on venture failure, defining venture failure as a deviation from the entrepreneurs' desired expectations. We thus differentiate between the entrepreneurs' failure and venture failure. We further place emphasis on habitual and serial entrepreneurs, concluding that such entrepreneurs are most often successful in their own right. We categorise six generic failure causes, and the interpretation thereof. Upon development of these constructs, Stage 2 incorporates an empirical study, whereafter a conceptual model of failure reducing initiatives will be proposed.

Publication type

Conference paper

Source

Proceedings of Regional Frontiers of Entrepreneurship Research 2009: 6th International Australian Graduate School of Entrepreneurship (AGSE) Entrepreneurship Research Exchange, Adelaide, South Australia, Australia, 03-06 February 2009 / L. Murray Gillin (ed.), pp. 557-570

Publication year

2009

FOR Code(s)

150304 Entrepreneurship

Keyword(s)

Entrepreneurial failure;  Entrepreneurial sucess;  Entrepreneurship;  Venture failure

Publisher

Australian Graduate School of Entrepreneurship, Swinburne University of Technology

ISBN

9780980332858, 0980332850

Publisher URL

http://www.swinburne.edu.au/lib/ir/onlineconferences/agse2009/papers.htm

Copyright

This paper copyright © 2009 Noga Gulst and Alex Maritz. Proceedings copyright © 2009 Australian Graduate School of Entrepreneurship. Published version of this paper reproduced with the kind permission of the publisher.

Full text

Peer reviewed