Experience: does it matter when choosing co-founders? - A comparative multiple case study of how novice and habitual entrepreneurs in fintech ventures form founding teams
(2024) FEKH99 20232Department of Business Administration
- Abstract
- Title: Experience: does it matter when choosing co-founders? - A comparative multiple case study of how novice and habitual entrepreneurs in fintech ventures form founding teams
Seminar date: January 10th, 2024
Course: FEKH99, Bachelor’s Degree Project in Entrepreneurship and Innovation Management, Business Administration, Undergraduate Level, 15 University Credit Points
Authors: Oliver Allemog, Cornelia Schols
Advisor/s: Joakim Winborg
Key words: Co-founders; Entrepreneurial decision-making; New venture teams; Novice and Habitual Entrepreneurs; Team formation process
Research question: How does entrepreneurial experience affect an entrepreneur's decision-making process when choosing co-founder(s), and does it influence what... (More) - Title: Experience: does it matter when choosing co-founders? - A comparative multiple case study of how novice and habitual entrepreneurs in fintech ventures form founding teams
Seminar date: January 10th, 2024
Course: FEKH99, Bachelor’s Degree Project in Entrepreneurship and Innovation Management, Business Administration, Undergraduate Level, 15 University Credit Points
Authors: Oliver Allemog, Cornelia Schols
Advisor/s: Joakim Winborg
Key words: Co-founders; Entrepreneurial decision-making; New venture teams; Novice and Habitual Entrepreneurs; Team formation process
Research question: How does entrepreneurial experience affect an entrepreneur's decision-making process when choosing co-founder(s), and does it influence what entrepreneurs value when selecting them?
Purpose: Investigate how experience in entrepreneurship influences the decision process and what the entrepreneur values in a co-founder when initiating a new venture showcased by examining differences between novice and habitual entrepreneurs.
Methodology: Qualitative multiple-case study with specified sample and semi-structured interviews about the founder's decision-making regarding co-founders.
Theoretical perspective: The theoretical framework consists of the decision models bounded rationality, causal reasoning and effectuation combined with resource dependency and interpersonal attraction
Result: The valued competencies are at large overlapping between novice and habitual entrepreneurs in endurance and technical ability. Previous experience gained by habitual entrepreneurs show that they value it earlier in the ventures phase. Moreover, the novice entrepreneurs value social ties and similarities higher than the habitual counterpart.
Conclusion: Entrepreneurial experience affect the decision making when selecting co-founders by habitual entrepreneurs (1) showing better understanding of when to evoke the right knowledge, (2) use causal reasoning to a greater extent than the novice who use more effectuation, (3) focus on the needs of the venture in terms of competencies and identifying individuals having these competencies more than novice. The second part of the research question, about values when selecting co-founder(s), differ from experience in (1) habitual entrepreneurs focus on resource dependency over interpersonal attraction compared to novice entrepreneurs, (2) closeness in relationships with their co-founders where the novice entrepreneurs have more close relationships than the habitual entrepreneurs for co-founders. (Less)
Please use this url to cite or link to this publication:
http://lup.lub.lu.se/student-papers/record/9147373
- author
- Allemog, Oliver LU and Schols, Cornelia LU
- supervisor
- organization
- course
- FEKH99 20232
- year
- 2024
- type
- M2 - Bachelor Degree
- subject
- keywords
- Co-founders, Entrepreneurial decision-making, New venture teams, Novice and Habitual Entrepreneurs, Team formation process
- language
- English
- id
- 9147373
- date added to LUP
- 2024-02-02 15:41:40
- date last changed
- 2024-02-02 15:41:40
@misc{9147373,
abstract = {{Title: Experience: does it matter when choosing co-founders? - A comparative multiple case study of how novice and habitual entrepreneurs in fintech ventures form founding teams
Seminar date: January 10th, 2024
Course: FEKH99, Bachelor’s Degree Project in Entrepreneurship and Innovation Management, Business Administration, Undergraduate Level, 15 University Credit Points
Authors: Oliver Allemog, Cornelia Schols
Advisor/s: Joakim Winborg
Key words: Co-founders; Entrepreneurial decision-making; New venture teams; Novice and Habitual Entrepreneurs; Team formation process
Research question: How does entrepreneurial experience affect an entrepreneur's decision-making process when choosing co-founder(s), and does it influence what entrepreneurs value when selecting them?
Purpose: Investigate how experience in entrepreneurship influences the decision process and what the entrepreneur values in a co-founder when initiating a new venture showcased by examining differences between novice and habitual entrepreneurs.
Methodology: Qualitative multiple-case study with specified sample and semi-structured interviews about the founder's decision-making regarding co-founders.
Theoretical perspective: The theoretical framework consists of the decision models bounded rationality, causal reasoning and effectuation combined with resource dependency and interpersonal attraction
Result: The valued competencies are at large overlapping between novice and habitual entrepreneurs in endurance and technical ability. Previous experience gained by habitual entrepreneurs show that they value it earlier in the ventures phase. Moreover, the novice entrepreneurs value social ties and similarities higher than the habitual counterpart.
Conclusion: Entrepreneurial experience affect the decision making when selecting co-founders by habitual entrepreneurs (1) showing better understanding of when to evoke the right knowledge, (2) use causal reasoning to a greater extent than the novice who use more effectuation, (3) focus on the needs of the venture in terms of competencies and identifying individuals having these competencies more than novice. The second part of the research question, about values when selecting co-founder(s), differ from experience in (1) habitual entrepreneurs focus on resource dependency over interpersonal attraction compared to novice entrepreneurs, (2) closeness in relationships with their co-founders where the novice entrepreneurs have more close relationships than the habitual entrepreneurs for co-founders.}},
author = {{Allemog, Oliver and Schols, Cornelia}},
language = {{eng}},
note = {{Student Paper}},
title = {{Experience: does it matter when choosing co-founders? - A comparative multiple case study of how novice and habitual entrepreneurs in fintech ventures form founding teams}},
year = {{2024}},
}