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Balancing the Tradeoff between Personal Fulfillment and Competitiveness in Venture Creation

Author

Listed:
  • Simon Halberstadt

    (Faculty of Economics and Management, Otto-von-Guericke University Magdeburg)

  • Matthias G. Raith

    (Faculty of Economics and Management, Otto-von-Guericke University Magdeburg)

  • Thomas Zomack

    (Faculty of Economics and Management, Otto-von-Guericke University Magdeburg)

Abstract

The fascination of venture creation is associated with an entrepreneur’s opportunity of achieving personal fulfillment. In reality, however, many nascent entrepreneurs discover that much of their original vision is sacrificed in the process of creating a startup. In this paper we address the conflict between the entrepreneur’s fulfillment and the startup’s competitiveness from a negotiationanalytic perspective. We show how the nature of this conflict is transformed in the process of business planning, and we demonstrate how a purely marketoriented focus on expansion serves to enhance personal fulfillment. Our analytical approach has practical implications for business development and entrepreneurial education.

Suggested Citation

  • Simon Halberstadt & Matthias G. Raith & Thomas Zomack, 2009. "Balancing the Tradeoff between Personal Fulfillment and Competitiveness in Venture Creation," FEMM Working Papers 09021, Otto-von-Guericke University Magdeburg, Faculty of Economics and Management.
    • Handle: RePEc:mag:wpaper:09021
    as

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    File URL: http://www.ww.uni-magdeburg.de/fwwdeka/femm/a2009_Dateien/2009_21.pdf
    File Function: First version, 2009
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