Description
Data with regards to the contribution of psychological entrepreneurship research for management education.
1
Peter F. Steinkellner, Karl Zehetner & Elfriede J. Czerny
The Contribution of Psychological Entrepreneurship
Research for Management Education
2
Overview: The Contribution of Psychological
Entrepreneurship Research for Management Education
? Introduction: context & central thesis
? Entrepreneurship, intrapreneurship & management
Education
? Process models of entrepreneurship
? Psychological entrepreneurship research
? A process-oriented, psychological and entrepreneurial
model of management education
? Application of the model in management education
3
Introduction: Context & Central Thesis
? Turbulent environments
? Change, flexibility and innovation as essential
? A need to rethink management (education)
? Away from traditional forms
? Towards entrepreneurial orientation
? Entrepreneurial competence & corporate entrepreneurship as
basis for organizational success
Central thesis: “Results from psychological entrepreneurship
research are valuable for management education in today’s
turbulent environments, but these results are only partially included in
entrepreneurship education and even less in management education
programs.”
4
Entrepreneurship, Intrapreneurship & Management
Education
“Entrepreneurship, as a field of business, seeks to understand how
opportunities to create something new […] arise and are discovered or
created by specific individuals, who then use various means to exploit or
develop them, thus producing a wide range of effects.” (Baron & Shane
2009: 5)
? One important part […] of entrepreneurship is to understand how
opportunities are discovered or created by specific individuals.
? Recognizing opportunities for creating something new can occur within
existing organizations as well as outside them.
? All organizations have to seek innovation as innovation is essential for
gaining and sustaining competitive advantage.
? So it seems clear that at least some processes of entrepreneurship are
similar for intrapreneurship.
? “Individuals can act entrepreneurially in several different contexts,
including large, existing companies” (Baron & Shane 2009: 7).
5
Process Models of Entrepreneurship – the six-stage
model (Baron & Shane 2008; Shane 2003)
? Opportunity recognition: generation of an idea for a new
product or service and/or recognition of an opportunity;
? Evaluation and decision: deciding to proceed;
? Resourcing: assembling the resources needed to launch a new
venture;
? Launching: launching the venture;
? Building success: running and growing the business;
? Harvesting: harvesting the rewards.
The relative importance of specific variables may fluctuate
across different phases of the process and may also be
different between intrapreneurship and entrepreneurship.
6
Psychological Entrepreneurship Research 1/2
? Individual-level factors relate to the “behavior, cognitions,
characteristics, knowledge, skills, and abilities of specific
entrepreneurs” (Baron 2007: 24)
? Personality trait factors
? Cognitive factors
? Interpersonal-level factors are “variables that influence
entrepreneurs’ relations with others” (Baron 2007: 26). Among these
factors social capital and social competence seem to have a high
importance for entrepreneurs (Baron 2007: 25-27).
? Social factors
? Societal-level factors are macro-level variables and include
government policies, economic conditions, technology and other
societal conditions (Baron 2007: 27; Baron & Shane 2008: 16-18).
? Beyond the scope of (social) psychology
7
Psychological Entrepreneurship Research 2/2
? Personality traits (e.g. high extraversion) play a role in the decision to
become an entrepreneur (e.g. Baron & Markmann 2005; Ciavarella et al. 2004)
? but not in the success of entrepreneurs.
? high stability of personality traits (Myers 2010: 571; McCrae & Costa 1994;
Vaidya et al. 2002)
? personality factors are not a feasible starting-point for entrepreneurial
management education interventions
? Cognitive and social factors influence entrepreneur’s success (Baron, Byrne
and Branscombe 2006: 557-559).
? high importance of cognitive and social factors in the stage “Opportunity
Recognition”;
? high importance of cognitive factors in the stage “Evaluation and
Decision”;
? high importance of social factors in the stage “Resourcing” (Baron & Shane
2008; Baron 2007).
? build the basis of our process-oriented, psychological and entrepreneurial model
of management education.
8
A Process-oriented, Psychological and Entrepreneurial Model
of Management Education
Phases / Factors
P1
Opportunity
recognition
P2
Evaluation
& Decision
P3
Resourcing
P4
Launching
P5
Building
Success
P6
Harvesting
F1 personality factors
F2 cognitive factors ++ ++ + (+)
F3 social factors ++ + ++ ++
++ -> high focus for management education interventions
+ -> partial focus for management education interventions
A process-oriented, psychological and entrepreneurial model of management education
9
Application of the Model in Management Education
Content Clinical Component
Lecture of Social
Psychology
Action component
Leadership Lab
Goal-setting &
Feedback
Leadership
Training
with Horses
Change Project /
Establishing a Business
F1
Personality
factors *
Coping with
personality factors
Coping with
personality factors
Coping with
personality factors
Coping with
personality factors
Coping with
personality factors
F2
Cognitive
factors
P1 (Opp. Recog.)
P2 (Eval. & Dec.)
Example:
Cognitive Biases
P2 (Eval. & Dec.)
Examples:
Planning Fallacy;
Affect Infusion;
Less counterfactual
thinking
P2 (Eval. & Dec.)
Examples:
Self-Image;
Less counterfactual
thinking
P2 (Eval. & Dec.)
P3 (Resourcing)
Examples:
Normative-rational dimension
(risk propens., planning fallacy);
Less counterfactual thinking;
Coping with sunk costs
F3
Social
factors
P1 (Opp. Recog.)
P2 (Eval. & Dec.)
Example:
Social group effects
P1 (Opp. Recog.)
P3 (Resourcing)
P5 (Build. Succ.)
Examples:
Adaptiveness
Persuasiveness
P2 (Eval. & Dec.)
P5 (Build. Succ.)
Example:
Public Image
P5 (Build. Succ.)
Examples:
First impression
Leading without
institutional power
P3 (Resourcing)
P5 (Build. Succ.)
Example:
Socio-cultural dimension
(social skills)
Competence Development
* Personality factors cannot be influenced by intervention, but coping with personality factors can
10
Conclusion
? Suggestions for improvements in management education to strengthen
the entrepreneurial orientation and to improve intrapreneurship
and innovation.
? Illustration of the importance of the entrepreneurial component of
management education and of a process-oriented, psychological and
entrepreneurial model of management education.
? Examples of management education methods to outline and
illustrate the applicability of this model for management education
programs.
? This model helps to include social psychological findings in the planning
and building of a particular management education program, and can
give hints on what might still be missing in existing management
education programs.
“As this paper has argued, results of psychological entrepreneurship
research can help to improve management education in a
competitive environment.”
11
Authors
Peter F. Steinkellner
PEF Privatuniversität für Management, Vienna: Professor for HR & OD
Management Consultant
www.wirtschaftscoaching.info
[email protected]
Karl Zehetner
PEF Privatuniversität für Management, Vienna: Professor for Management
res.co.at Dr. Karl Zehetner KG: Partner
www.res.co.at
[email protected]
Elfriede J. Czerny
PEF Privatuniversität für Management, Vienna: Lecturer and Research Associate
Management Consultant
[email protected]
doc_460558461.pdf
Data with regards to the contribution of psychological entrepreneurship research for management education.
1
Peter F. Steinkellner, Karl Zehetner & Elfriede J. Czerny
The Contribution of Psychological Entrepreneurship
Research for Management Education
2
Overview: The Contribution of Psychological
Entrepreneurship Research for Management Education
? Introduction: context & central thesis
? Entrepreneurship, intrapreneurship & management
Education
? Process models of entrepreneurship
? Psychological entrepreneurship research
? A process-oriented, psychological and entrepreneurial
model of management education
? Application of the model in management education
3
Introduction: Context & Central Thesis
? Turbulent environments
? Change, flexibility and innovation as essential
? A need to rethink management (education)
? Away from traditional forms
? Towards entrepreneurial orientation
? Entrepreneurial competence & corporate entrepreneurship as
basis for organizational success
Central thesis: “Results from psychological entrepreneurship
research are valuable for management education in today’s
turbulent environments, but these results are only partially included in
entrepreneurship education and even less in management education
programs.”
4
Entrepreneurship, Intrapreneurship & Management
Education
“Entrepreneurship, as a field of business, seeks to understand how
opportunities to create something new […] arise and are discovered or
created by specific individuals, who then use various means to exploit or
develop them, thus producing a wide range of effects.” (Baron & Shane
2009: 5)
? One important part […] of entrepreneurship is to understand how
opportunities are discovered or created by specific individuals.
? Recognizing opportunities for creating something new can occur within
existing organizations as well as outside them.
? All organizations have to seek innovation as innovation is essential for
gaining and sustaining competitive advantage.
? So it seems clear that at least some processes of entrepreneurship are
similar for intrapreneurship.
? “Individuals can act entrepreneurially in several different contexts,
including large, existing companies” (Baron & Shane 2009: 7).
5
Process Models of Entrepreneurship – the six-stage
model (Baron & Shane 2008; Shane 2003)
? Opportunity recognition: generation of an idea for a new
product or service and/or recognition of an opportunity;
? Evaluation and decision: deciding to proceed;
? Resourcing: assembling the resources needed to launch a new
venture;
? Launching: launching the venture;
? Building success: running and growing the business;
? Harvesting: harvesting the rewards.
The relative importance of specific variables may fluctuate
across different phases of the process and may also be
different between intrapreneurship and entrepreneurship.
6
Psychological Entrepreneurship Research 1/2
? Individual-level factors relate to the “behavior, cognitions,
characteristics, knowledge, skills, and abilities of specific
entrepreneurs” (Baron 2007: 24)
? Personality trait factors
? Cognitive factors
? Interpersonal-level factors are “variables that influence
entrepreneurs’ relations with others” (Baron 2007: 26). Among these
factors social capital and social competence seem to have a high
importance for entrepreneurs (Baron 2007: 25-27).
? Social factors
? Societal-level factors are macro-level variables and include
government policies, economic conditions, technology and other
societal conditions (Baron 2007: 27; Baron & Shane 2008: 16-18).
? Beyond the scope of (social) psychology
7
Psychological Entrepreneurship Research 2/2
? Personality traits (e.g. high extraversion) play a role in the decision to
become an entrepreneur (e.g. Baron & Markmann 2005; Ciavarella et al. 2004)
? but not in the success of entrepreneurs.
? high stability of personality traits (Myers 2010: 571; McCrae & Costa 1994;
Vaidya et al. 2002)
? personality factors are not a feasible starting-point for entrepreneurial
management education interventions
? Cognitive and social factors influence entrepreneur’s success (Baron, Byrne
and Branscombe 2006: 557-559).
? high importance of cognitive and social factors in the stage “Opportunity
Recognition”;
? high importance of cognitive factors in the stage “Evaluation and
Decision”;
? high importance of social factors in the stage “Resourcing” (Baron & Shane
2008; Baron 2007).
? build the basis of our process-oriented, psychological and entrepreneurial model
of management education.
8
A Process-oriented, Psychological and Entrepreneurial Model
of Management Education
Phases / Factors
P1
Opportunity
recognition
P2
Evaluation
& Decision
P3
Resourcing
P4
Launching
P5
Building
Success
P6
Harvesting
F1 personality factors
F2 cognitive factors ++ ++ + (+)
F3 social factors ++ + ++ ++
++ -> high focus for management education interventions
+ -> partial focus for management education interventions
A process-oriented, psychological and entrepreneurial model of management education
9
Application of the Model in Management Education
Content Clinical Component
Lecture of Social
Psychology
Action component
Leadership Lab
Goal-setting &
Feedback
Leadership
Training
with Horses
Change Project /
Establishing a Business
F1
Personality
factors *
Coping with
personality factors
Coping with
personality factors
Coping with
personality factors
Coping with
personality factors
Coping with
personality factors
F2
Cognitive
factors
P1 (Opp. Recog.)
P2 (Eval. & Dec.)
Example:
Cognitive Biases
P2 (Eval. & Dec.)
Examples:
Planning Fallacy;
Affect Infusion;
Less counterfactual
thinking
P2 (Eval. & Dec.)
Examples:
Self-Image;
Less counterfactual
thinking
P2 (Eval. & Dec.)
P3 (Resourcing)
Examples:
Normative-rational dimension
(risk propens., planning fallacy);
Less counterfactual thinking;
Coping with sunk costs
F3
Social
factors
P1 (Opp. Recog.)
P2 (Eval. & Dec.)
Example:
Social group effects
P1 (Opp. Recog.)
P3 (Resourcing)
P5 (Build. Succ.)
Examples:
Adaptiveness
Persuasiveness
P2 (Eval. & Dec.)
P5 (Build. Succ.)
Example:
Public Image
P5 (Build. Succ.)
Examples:
First impression
Leading without
institutional power
P3 (Resourcing)
P5 (Build. Succ.)
Example:
Socio-cultural dimension
(social skills)
Competence Development
* Personality factors cannot be influenced by intervention, but coping with personality factors can
10
Conclusion
? Suggestions for improvements in management education to strengthen
the entrepreneurial orientation and to improve intrapreneurship
and innovation.
? Illustration of the importance of the entrepreneurial component of
management education and of a process-oriented, psychological and
entrepreneurial model of management education.
? Examples of management education methods to outline and
illustrate the applicability of this model for management education
programs.
? This model helps to include social psychological findings in the planning
and building of a particular management education program, and can
give hints on what might still be missing in existing management
education programs.
“As this paper has argued, results of psychological entrepreneurship
research can help to improve management education in a
competitive environment.”
11
Authors
Peter F. Steinkellner
PEF Privatuniversität für Management, Vienna: Professor for HR & OD
Management Consultant
www.wirtschaftscoaching.info
[email protected]
Karl Zehetner
PEF Privatuniversität für Management, Vienna: Professor for Management
res.co.at Dr. Karl Zehetner KG: Partner
www.res.co.at
[email protected]
Elfriede J. Czerny
PEF Privatuniversität für Management, Vienna: Lecturer and Research Associate
Management Consultant
[email protected]
doc_460558461.pdf