Frontiers in Psychology (Jun 2019)
Research on Factors Affecting the Entrepreneurial Learning From Failure: An Interpretive Structure Model
Abstract
Based on the interpretive structure model of system dynamics, this paper constructs a hierarchical structure model of factors affecting the entrepreneurial learning from failure, which has been also tested through a case of entrepreneurship. The study finds that: (1) there are 15 factors influencing entrepreneurial learning from failure that play different hierarchical roles; (2) the entrepreneurs’ self-efficacy, as a key influencing factor of entrepreneurial learning from failure, can be cultivated and improved by enriched the entrepreneurs’ successful career experience. In addition, emotion regulation after the entrepreneurial failure is also a key influencing factor of the entrepreneurial learning from failure and the emotion management is deemed as an important part of entrepreneurship education; (3) the entrepreneurial education may affect the entrepreneurship learning from failure indirectly by affecting the entrepreneurs’ self-efficacy; (4) the economic conditions, the policy support, the industry characteristics and the cultural sensemaking of failure are the macro factors that may affect the entrepreneurship learning from failure.
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