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Beyond Achievement: Entrepreneurship as Extreme Experience

  • Minet Schindehutte
  • Michael Morris

    ()

  • Jeffrey Allen
Registered author(s):

    How do entrepreneurs experience entrepreneurship, and what are the implications? The cognitive and emotional experiences of the entrepreneur as he/she performs the tasks associated with venture creation and high growth have received limited attention from researchers. The entrepreneurial context can be characterized in terms of peaks and valleys, or periods of relatively high pressure, stress, uncertainty, and ambiguity and periods of relative stability and predictability. Three inter-related psychological variables are investigated to determine their applicability in an entrepreneurial context: peak performance, peak experience, and flow. Results are reported of a series of in-depth, structured interviews conducted with two samples of entrepreneurs. Both qualitative and quantitative evidence is provided of the relevance of all three variables to entrepreneurs, with the highest scores for each variable demonstrated by entrepreneurs in high growth ventures. A number of implications are drawn for ongoing research and entrepreneurial practice, most notably in the area of entrepreneurial motivation. The findings suggest that entrepreneurship be approached as a vehicle for optimal human experiencing. Copyright Springer 2006

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    File URL: http://hdl.handle.net/10.1007/s11187-005-0643-6
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    Article provided by Springer in its journal Small Business Economics.

    Volume (Year): 27 (2006)
    Issue (Month): 4 (December)
    Pages: 349-368

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    Handle: RePEc:kap:sbusec:v:27:y:2006:i:4:p:349-368
    Contact details of provider: Web page: http://www.springerlink.com/link.asp?id=100338

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    1. Arnould, Eric J & Price, Linda L, 1993. " River Magic: Extraordinary Experience and the Extended Service Encounter," Journal of Consumer Research, University of Chicago Press, vol. 20(1), pages 24-45, June.
    2. Brockner, Joel & Higgins, E. Tory & Low, Murray B., 2004. "Regulatory focus theory and the entrepreneurial process," Journal of Business Venturing, Elsevier, vol. 19(2), pages 203-220, March.
    3. Tian, Kelly Tepper & Bearden, William O & Hunter, Gary L, 2001. " Consumer's Need for Uniqueness: Scale Development and Validation," Journal of Consumer Research, University of Chicago Press, vol. 28(1), pages 50-66, June.
    4. Gaglio, Connie Marie & Katz, Jerome A, 2001. " The Psychological Basis of Opportunity Identification: Entrepreneurial Alertness," Small Business Economics, Springer, vol. 16(2), pages 95-111, March.
    5. Slovic, Paul & Finucane, Melissa & Peters, Ellen & MacGregor, Donald G., 2002. "Rational actors or rational fools: implications of the affect heuristic for behavioral economics," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 31(4), pages 329-342.
    6. Baron, Robert A., 2004. "The cognitive perspective: a valuable tool for answering entrepreneurship's basic "why" questions," Journal of Business Venturing, Elsevier, vol. 19(2), pages 221-239, March.
    7. Delmar, Frederic & Davidsson, Per & Gartner, William B., 2003. "Arriving at the high-growth firm," Journal of Business Venturing, Elsevier, vol. 18(2), pages 189-216, March.
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