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Essay

Failure literature

Essay specific features

 

Issue:

Business

 

Written by:

Tom C

 

Date added:

September 22, 2014

 

Level:

University

 

Grade:

A

 

No of pages / words:

20 / 5401

 

Was viewed:

9256 times

 

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Essay content:

These papers offer ‘static’ models of survival and do not explicitly address the issue of learning by the owner-manager over time. Jovanovic (1982), cited in Cressy (1999) developed a model in which this occurs. Business is ‘a learning experiment’ in which the entrepreneur learns about his/her fixed level of entrepreneurial skills over time...
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However, there is no possibility of learning by doing here: the ability to improve one’s skills by rectifying mistakes, finding better ways of doing things, and so on . Furthermore, the Jovanovic model assumes entrepreneurs are ‘one-shot’: they are in business only once. In practice, however, many entrepreneurs are serial owners: they have managed previous businesses...
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