e-journal

Life After Business Failure: The Process and Consequences of Business Failure for Entrepreneurs

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Where there is uncertainty, there is bound to be failure. It is not surprising, therefore, that many
new ventures fail. What happens to entrepreneurs when their business fails? People hear of
highly successful entrepreneurs extolling the virtues of failure as a valuable teacher. Yet the
aftermath of failure is often fraught with psychological, social, and financial turmoil. The purpose
of this article is to review research on life after business failure for entrepreneurs, from the
immediate aftermath through to recovery and re-emergence. First, the authors examine the financial,
social, and psychological costs of failure, highlighting factors that may influence the
magnitude of these costs (including individual responses to managing these costs). Second, they
review research that explains how entrepreneurs make sense of and learn from failure. Finally,
the authors present research on the outcomes of business failure, including recovery as well as
cognitive and behavioral outcomes. They develop a schema to organize extant work and use this
as a platform for developing an agenda for future research.

Keywords: entrepreneurs; business failure; costs of failure; emotions; learning; sensemaking

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Ketersediaan

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Informasi Detail

Judul Seri

Journal of Management

No. Panggil

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Penerbit

New York : SAGE., 2013

Deskripsi Fisik

Journal of Management Vol. 39 No. 1, January 2013 163-202

Bahasa

English

ISBN/ISSN

DOI: 10.1177/0149206

Klasifikasi

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Tipe Isi

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Tipe Media

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Tipe Pembawa

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Edisi

Vol. 39 No. 1, January 2013

Subjek

MANAJEMEN

Info Detail Spesifik

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Pernyataan Tanggungjawab

agus

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