The Effects of Business Failure Experience on Successive Entrepreneurial Engagements: An Evolutionary Phase Model

Joseph Amankwah-Amoah*, Nathaniel Boso, Issek Antwi-Agyei

*Corresponding author for this work

    Research output: Contribution to journalArticle (Academic Journal)peer-review

    38 Citations (Scopus)
    754 Downloads (Pure)

    Abstract

    This study draws insights from the literatures on entrepreneurial learning from failure and organizational imprinting to develop an evolutionary phase model to explain how prior business failure experience influences successive newly started businesses. Using multiple case studies of entrepreneurs located in an institutionally developing society in Sub-Sahara Africa, we uncover four distinctive phases of postentrepreneurial business failure: grief and despair, transition, formation, and legacy phases. We find that while the grieving and transition phases entailed processes of reflecting and learning lessons from the business failure experiences, the formation and legacy phases involve processes of imprinting entrepreneurs’ experiential knowledge on their successive new start-up firms. We conclude by outlining a number of fruitful avenues for future research.

    Original languageEnglish
    Pages (from-to)648-682
    Number of pages35
    JournalGroup and Organization Management
    Volume43
    Issue number4
    Early online date11 Apr 2016
    DOIs
    Publication statusPublished - 1 Aug 2018

    Keywords

    • business failure
    • entrepreneurial engagement
    • entrepreneurial learning
    • imprinting

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