A Structured Approach to Entrepreneurial Decision-Making From Startup Inception to Navigating Uncertainties Using a Developed Typology
Author
Term
4. semester
Publication year
2024
Submitted on
2024-08-14
Pages
71
Abstract
In today’s volatile, uncertain, complex, and ambiguous environment, entrepreneurs face significant challenges when launching startups. Traditional business methods often fall short of addressing the complexities of such uncertain conditions. Wang et al. (2022) defines a startup as "the practical activity of starting a business in an uncertain environment," where the primary challenge is reducing uncertainty. This study aims to contribute to the field of entrepreneurship by offering a structured approach to decision-making, guiding entrepreneurs from startup inception through the various uncertainties they will encounter. Central to this study is the development of a typology designed to help entrepreneurs select the most appropriate methods based on their business ideas. The proposed typology will be tested and validated through two case studies, demonstrating its practical relevance and applicability. Further scope for research and validation will also be discussed in the end.
Keywords
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