The Relationship of Entrepreneur’s Learning Orientations and Practical Intelligence to New Venture Performance
15 Pages Posted: 24 Mar 2011 Last revised: 3 May 2011
Date Written: 2003
Abstract
We draw upon cognitive and social psychology to explore relationships among entrepreneurs’ learning orientations, practical intelligence, experience, and new venture performance. Interviews with 22 industry CEOs guided model and questionnaire construction. Responses from 108 founders of young growth-oriented firms confirmed that entrepreneurs’ learning orientations (concrete experience and active experimentation) are related to their practical intelligence, which in turn, is related to new venture growth. Furthermore, salient industry, product, and process experience is directly related to learning orientation, practical intelligence, and new venture growth; however, learning and practical intelligence mediate the relationship between experience and growth. These findings build a stronger case for an internal explanation of venture success, specifically for the role of entrepreneurial cognition.
Keywords: Entrepreneurship
JEL Classification: M13
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