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Entrepreneurial expertise and the use of control

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  • Dew, Nicholas
  • Read, Stuart
  • Sarasvathy, Saras D.
  • Wiltbank, Robert

Abstract

Significant evidence has accumulated describing the importance of expertise. As this knowledge is extended, it is critical to understand when expertise matters and how. We unpack expertise in entrepreneurial decision making by presenting 412 founder/entrepreneur subjects with a unique tool involving four scenarios so we can measure an element of theoretical relevance to expertise in the entrepreneurial domain, efficacy at applying control and prediction strategies to situations which vary in environmental predictability and controllability. Results show that entrepreneurial expertise yields significant decision-making improvements in the situational use of control strategies – those strategies conceptually associated with uncertain new ventures, products and markets.

Suggested Citation

  • Dew, Nicholas & Read, Stuart & Sarasvathy, Saras D. & Wiltbank, Robert, 2015. "Entrepreneurial expertise and the use of control," Journal of Business Venturing Insights, Elsevier, vol. 4(C), pages 30-37.
    • Handle: RePEc:eee:jobuve:v:4:y:2015:i:c:p:30-37
    DOI: 10.1016/j.jbvi.2015.09.001
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    References listed on IDEAS

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    Cited by:

    1. Willem Smit, 2023. "Top Manager Heuristics Under Knightian Uncertainty: Control Versus Prediction and the Moderating Impact of Framing," Journal of Management Studies, Wiley Blackwell, vol. 60(5), pages 1302-1340, July.
    2. Sebastian Markus Szambelan & Yi Dragon Jiang, 2020. "Effectual control orientation and innovation performance: clarifying implications in the corporate context," Small Business Economics, Springer, vol. 54(3), pages 865-882, March.
    3. Richard A. Martina, 2020. "Toward a theory of affordable loss," Small Business Economics, Springer, vol. 54(3), pages 751-774, March.
    4. Katrin M. Smolka & Ingrid Verheul & Katrin Burmeister–Lamp & Pursey P.M.A.R. Heugens, 2018. "Get it Together! Synergistic Effects of Causal and Effectual Decision–Making Logics on Venture Performance," Entrepreneurship Theory and Practice, , vol. 42(4), pages 571-604, July.
    5. Szambelan, Sebastian & Jiang, Yi & Mauer, René, 2020. "Breaking through innovation barriers: Linking effectuation orientation to innovation performance," European Management Journal, Elsevier, vol. 38(3), pages 425-434.
    6. Bi, Qingqing & Boh, Wai Fong & Christopoulos, Georgios, 2021. "Trust, fast and slow: A comparison study of the trust behaviors of entrepreneurs and non-entrepreneurs," Journal of Business Venturing, Elsevier, vol. 36(6).
    7. Paul Ouma & James Kilika, 2018. "Innovation Strategies, First Mover Advantage and Performance in the Context of the Microfinance Sector: A Review of Literature," International Journal of Business and Management, Canadian Center of Science and Education, vol. 13(7), pages 195-195, June.
    8. Stroe, Silvia & Parida, Vinit & Wincent, Joakim, 2018. "Effectuation or causation: An fsQCA analysis of entrepreneurial passion, risk perception, and self-efficacy," Journal of Business Research, Elsevier, vol. 89(C), pages 265-272.
    9. Magdalena Markowska & Dietmar Grichnik & Jan Brinckmann & Diana Kapsa, 2019. "Strategic orientations of nascent entrepreneurs: antecedents of prediction and risk orientation," Small Business Economics, Springer, vol. 53(4), pages 859-878, December.

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