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Given the critical mass of literature on entrepreneurial risk-taking, the purpose of this paper is to assess the contribution to the knowledge so far by exploring important themes in the literature on entrepreneurial risk-taking.

The review is organized around four themes: nature of entrepreneurial risk-taking; antecedents of entrepreneurial risk-taking; context of entrepreneurial risk-taking; and outcomes of entrepreneurial risk-taking. The author critically evaluates the literature on each theme and presents the pointers for future research.

Literature does provide a holistic view encapsulating different dimensions of entrepreneurial risk-taking, but it has produced largely inconsistent findings in terms of risk and gender, risk propensity of entrepreneurs in comparison to non-entrepreneurs and the outcomes of entrepreneurial risk-taking. Organizational antecedents, non-financial measures and ethical- and health-related consequences of entrepreneurial risk are underexplored. Inconclusive literature also implies that the risk may not be a distinguishing or important factor for undertaking an entrepreneurial endeavor. Therefore, it is pertinent to explore the critical factors entrepreneurs consider (or not consider) while marshalling their resources to embark on an entrepreneurial journey. This posits the need to explore an entrepreneur’s informal approach toward risk-taking.

Suggested pointers of future research will potentially enhance the theoretical understanding of entrepreneurial risk-taking.

The primary purpose of this literature review paper is to address the question why it is difficult to define entrepreneurship despite the amount of research that has taken place in the field. In addition, the paper also aims to demonstrate how the struggle to define entrepreneurship has impacted on entrepreneurial careers in Kenya.

The paper reviewed literature on different approaches used by researchers in the struggle to define entrepreneurship. It focused mainly on the trait, behavioral and opportunity identification approaches. It critically examined the extent to which each approach has attempted to explain what entrepreneurship is, and suggests research questions, methodologies and techniques that will do justice to the complexity of defining entrepreneurship.

The findings of the literature review showed that none of the approaches used to define entrepreneurship gives a comprehensive picture of entrepreneurship. There is a lack of a common definition of entrepreneurship. Following the absence of this common definition, professionals in Kenya do not see themselves as entrepreneurs. The researchers and educators must define what they mean when attempting to define entrepreneurship. Rather than concentrate on one part – the entrepreneur; behavior or opportunity identification – they must focus on the whole entrepreneurial process. In addition, researchers and educators need to study the entrepreneur before, during and after the entrepreneurial process.

Further research should be conducted to relate entrepreneurship to other occupations. Each approach needs to expand in this direction.

Research on the impact of the meaning of entrepreneurship on careers in Kenya and other contexts so far has not been conducted.

This paper aims to investigate the role of nature and nurture in students’ entrepreneurial intention (EIs). In doing so, the study examines the relationship between prenatal testosterone exposure (2D:4D), risk-taking propensity, entrepreneurial self-efficacy and EIs. Moreover, the moderating role of entrepreneurial education between entrepreneurial self-efficacy and EI is also investigated.

In line with previous studies on EI, the authors tested hypotheses based on quantitative data obtained from university students.

Data were analyzed with the help of the structural equation modeling technique, and the results revealed that all the hypothesized relationships were supported.

The field of entrepreneurship has become an attractive area of research for practitioners and academics. One tinted area of research in entrepreneurship is the investigation of EI because it is a good predictor of entrepreneurial behavior. Several antecedents of EIs have been recognized in the literature ranging from personality traits to environmental factors. However, less is known about the role of biology in entrepreneurship. Incorporating biological factors in the field of entrepreneurship appears to be theoretically viable and sound. Thus, this study investigates the effect of biological factors in the presence of psychological factors on EIs, which is a unique contribution to the literature on entrepreneurship.

Entrepreneurial orientation (EO) has emerged as a core concept in the field of entrepreneurship. Yet, there continue to be questions about the nature of EO and how best to conceptualize and measure it. This chapter makes the case that EO has grown beyond its roots as a firm-level unidimensional strategy construct and that a new multidimensional version of EO is needed to capture the diverse manifestations and venues for entrepreneurial activity that are now evident around the world – global entrepreneurial orientation (GEO). Building on the five-dimension multidimensional view of EO set forth when Lumpkin and Dess (1996) extended the work of Miller (1983) and Covin and Slevin (1989, 1991), the chapter offers an updated definition of EO and a fresh interpretation of why EO matters theoretically. Despite earnest efforts to reconcile the different approaches to EO, in order to move the study of EO and the theoretical conversation about it forward, we maintain that as a group of scholars and a field, we need to acknowledge that two different versions of EO have emerged. Given that, we consider original approaches to measuring EO, evaluate formative measurement models, consider multiple levels of analysis, call for renewed attention to EO configurations, and discuss whether there is a theory of EO.

The purpose of this paper is to utilise Vilfredo Pareto ' s Machiavellian-realist social theory to provide a distinctive realist philosophical understanding of entrepreneurial risk-taking. By doing so, this paper seeks to stimulate debate and encourage future empirical testing that has the potential to present a richer understanding of entrepreneurial risk-taking.

To establish that a realist perspective can help theorise entrepreneurship, the authors look through a modern day risk and uncertainty optic at the hidden mechanisms within the social world where enterprises operate. Looking from this unique standpoint, where the long established social theory is reinvigorated by contemporary risk philosophy within a shared realist paradigm, human nature equips entrepreneurs with certain “animal spirits” to muddle blindly and instinctually through their risk environments.

The paper argues that this combined perspective unlocks a much richer understanding of entrepreneurial risk-taking, in particular, by capturing more of its behavioural reality and despite our strong emphasis on the inaccessibility and hiddenness of the risk environment to the entrepreneur, by exploring the entrepreneur-risk environment fit in ecological terms.

The paper’s unique blend of the classical Italian social theory with the contemporary risk theory offers a novel ecological view of the entrepreneur’s blind (mal) adaptation to their risk environment.

This paper aims to examine the integration of entrepreneurship and strategy to develop a conceptual framework of strategic entrepreneurship. The framework is developed through an analysis of theory and refined through an examination of practice.

This framework is considered in the context of potentially entrepreneurial and strategic activity undertaken by 12 of the 17 state‐owned enterprises (SOEs) operating in New Zealand in 2006‐2007. Based on a review of documents, observation, and interviews with SOE executives, cases of 12 SOE activities were analysed to compare and contrast strategic entrepreneurship in practice.

The findings reveal distinct elements within the four activities classified as strategic entrepreneurship, activities, such as leveraging from core skills and resources from a strategic perspective, and innovation from an entrepreneurial perspective.

This study is one of the first to examine the nature of strategic entrepreneurship in practice and the associated financial returns.

This paper aims to explore, and is the first in a series, whether it is possible to use risk-taking activities as way of identifying potential entrepreneurs. The research examines the motivations of individuals to engage in deviant consumer behaviour, in this case illegal downloading and the link between this behaviour and possible entrepreneurial characteristics.

The methodology approach was of a quantitative nature using a 32-item questionnaire disseminated to 215 undergraduate students at a UK university.

Although there was strong evidence of entrepreneurial traits existing across the participants, including risk-taking propensity, no relationship could be found between risk-taking propensity and illegal downloading. Reasons put forward for these findings were that the level of risk involved was too low to be identified as such by the downloaders, even though the non-downloaders were worried about being caught and, therefore, were not participating in it. Attitudes towards this misbehaviour change when it is not for their own consumption and very few students participated in that activity.

This study is limited to a cohort of undergraduate students at only one university. This study begins to understand the potential link between misbehaviour and entrepreneurial traits.

This paper examines the possible link between consumer misbehaviour, in this case illegal downloading and the display of entrepreneurial risk-taking characteristics. The implication of “consumer misbehaviour” through illegal downloading being “entrepreneurial” has, to our knowledge, not been previously tested and could be a useful and inexpensive way of identifying future entrepreneurs and consequently directing relevant support and training to the right people.

The literature on international entrepreneurship offers two competing views on why new ventures internationalize: (a) the nature of the opportunity pulls them international or (b) the founder pushes the firm international. While these two internationalization drivers are not independent, they do represent unique causal mechanisms. Previously, the tools available to understand the entrepreneur’s disposition toward internationalization were limited. The present study uses the theoretical foundation of the international entrepreneurial orientation construct and from it develops and tests an attitudinally-based individual-level measure of disposition toward internationalization. To ensure the validity and reliability of the new measure, termed International Entrepreneurial Orientation Disposition, studies were conducted to: develop new scale items, examine their psychometric properties and construct validity, and demonstrate criterion validity. A strong measurement model is developed using structural equation modeling (CFI = 0.93, RMSEA = 0.07), and the measure is shown to be useful as a predictor of perceived international venture attractiveness.

In Chapter 1, a broad overview of the scope of entrepreneurialism in policing and criminal contexts which are broadly positive in nature was developed. In Chapter 2, the scrutiny to cover socio-cultural and organisational barriers to the implementation of entrepreneurial policing are extended. These include police culture, organisational traits such as ‘Machismo’ and ‘Conformism’, the restrictive nature of the police rank structure, the military model of policing, bureaucracy, risk-aversion, anti-entrepreneurialism, anti-intellectualism, the ‘Maverick’ stereotype, and the ‘Questioning Constable’. Many of these elements are of a negative nature and inhibit the implementation of entrepreneurial policing and practices. Also the entrepreneurial organisation and issues such as privatisation, commercialisation, innovation, and technology which also inhibit entrepreneurialism in policing contexts, but which also offer significant opportunities, are considered.

Through the lens of experiential learning theory, this conceptual paper examines the factors influencing the likelihood of transitioning from hybrid to full-time entrepreneurship. It is critical to evaluate the experiential learning that takes place during the hybrid phase, in order to establish a more nuanced understanding of the dynamic entrepreneurial journey.

This conceptual paper made use of a secondary data analysis of the existing academic literature, in particular using a thematic analysis, in order to propose a conceptual model and associated propositions.

The proposed conceptual model identifies four factors: fear of failure, perceived risk, entrepreneurial competency development and self-efficacy that are predicted to influence the transition decision. This paper establishes hybrid entrepreneurship as an effective learning ground and path toward full-time entrepreneurship.

Providing insights into the factors that influence the transition, allows policy makers to establish systems and incubators to support hybrid entrepreneurs reach the tipping point at which they have sufficient knowledge to enter full-time entrepreneurship. This paper establishes the importance of developmental policies aimed at encouraging hybrid entrepreneurship. There are also implications for managers of hybrid entrepreneurs to establish policies that encourage a culture of transparency and reap the benefits of enhanced employee development.

The paper has three predominant sources of value. First, offering a multidisciplinary approach by extending an existing theory to a new context; second, through the establishment of a conceptual model, offering propositions readily linked to hypotheses for future empirical assessment and third, enhancing the visibility of hybrid entrepreneurship in the literature to encourage public policy intervention and support.