Entrepreneurial path: decoupling the complexity of entrepreneurial process

Purpose

The purpose of this paper is to synthesise the socioeconomic context, personality, knowledge and social capital into a systemic framework, named the “entrepreneurial path” that demonstrates the process of transforming initial entrepreneurial intentions to a growing venture. This systemic framework decouples the overall complexity of the entrepreneurial realisation to three main subsystems: entrepreneurial intentions and venture idea formation; barriers of transition from nascent to active entrepreneur; and active and growing ventures. 

Design/methodology/approach 

The paper employs a systemic thinking approach to decouple the complexity of the subject. Survey techniques and digital social network discussion forums were used for the collection of primary qualitative data from multiple stakeholders. 

Findings

The conceptual framework, named the entrepreneurial path, highlights the importance of different factors at each stage of the entrepreneurial realisation. Especially the importance of factors such as perceived desirability, feasibility, self-efficacy, network ties and social capital has been identified as central. Needs for managerial skills and resources for the new venture come to play only on the later stage. Each of those factors though, plays a distinctive role in the different stages of the realisation and in dependence to the maturity of the entrepreneurial context. 

Research limitations/implications 

Further research may examine whether these factors that have been identified by successful entrepreneurs and stakeholders are reflecting the experience for those who have not been successful in their effort to create their venture. 

Practical implications

The entrepreneurial path provides a supportive tool for: academics designing focussed entrepreneurship education programmes and research; managers in intermediate structures to identify the specific needs of nascent and early-stage entrepreneurs in comparison to the needs of entrepreneurs in the growth stage; and for policy makers prioritising on supportive structures and institutions directing their actions to specific stages or barriers of the process or creating holistic and evolving structures based on the maturity of the entrepreneurial context. 

Originality/value

The decoupling of the process of transforming initial entrepreneurial intentions to a growing venture demonstrates that different approaches are required in order to foster each one of the factors identified. Focussing on activities and resources on one stage at the time, or presenting parallel activities that reflect the different level of maturity of regions, institutions, individuals and societal perceptions may provide better service to nascent and active entrepreneurs, than considering treating entrepreneurial intentions as a unified process.