The Role of Fear for Entrepreneurial Venture Creation Causes of Fail
Based on theory and an empirical survey, Philipp K. Berger measures the amount of fear for different groups of entrepreneurs. He draws parallels to Prospect Theory revealing the components of fear and shows, that entrepreneurial fear is a rather rational
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Philipp K. Berger
The Role of Fear for Entrepreneurial Venture Creation Causes of Failure before and after Foundation With a foreword by Prof. Dr. Jörg Freiling
Philipp K. Berger Bremen, Germany Dissertation Universität Bremen, 2014
ISBN 978-3-658-08999-3 ISBN 978-3-658-09000-5 (eBook) DOI 10.1007/978-3-658-09000-5 Library of Congress Control Number: 2015932863 Springer Gabler © Springer Fachmedien Wiesbaden 2015 This work is subject to copyright. All rights are reserved by the Publisher, whether the whole or part of the material is concerned, speci¿cally the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on micro¿lms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a speci¿c statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, express or implied, with respect to the material contained herein or for any errors or omissions that may have been made. Printed on acid-free paper Springer Gabler is a brand of Springer Fachmedien Wiesbaden Springer Fachmedien Wiesbaden is part of Springer Science+Business Media (www.springer.com)
Foreword Although being in principle a prosperous country, Germany’s total entrepreneurial activity is far below the average of comparable countries. Every year the Global Entrepreneurship Monitor provides evidence on this statement. Although the reasons for this low level of entrepreneurial activity seem to be numerous and complex in nature, one reason is of particular interest: the fear of failure. Germany as a country is related with a certain state of mind: the well-known ‘German Angst’. Insofar, Germany is an interesting background for research on the role of fear of failure when founding new ventures. Philipp K. Berger presents new findings on the role of fear of failure in case of entrepreneurial venture creation. To date, this relevant issue is still under-researched. Philipp Berger approaches the topic by developing a new model he calls the ‘entrepreneurial funnel’ that describes the run of events from earlier phases of venturing to later ones. At every step he considers the fear of failure and the case the nascent or young entrepreneurs are too frightened and scared to implement their venture plans. It is open whether this skepticism and hesitation is good or bad from a macro-perspective as it may also prevent founders from bad experiences with a strong imprint on their life. However, not enough is known about this constellation
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