In the only known programme of prescriptive entrepreneurship, James Fiet provides a marked contrast to the standard descriptive focus of entrepreneurship studies. Instead of the anecdotally based pedagogies that have dominated the teaching of entrepreneurship (and which do not control for luck-based success), the author lays out a programme of research to develop and test theoretically derived guidelines for how to improve the success rate and performance of aspiring entrepreneurs. Rather than describing what entrepreneurs do, he prescribes and tests what they ought to do.
The author finds that the use of systematic search at the launch relates positively to both the discovery of wealth-generating ideas and the founding of ventures. The book also uncovers the characteristics of forgiving business models and discusses their teachability. Training elements of the book include a prescriptive model of how to search for and discover wealth-generating ideas, a detailed protocol for how to train aspiring entrepreneurs in the use of systematic search, and an instrument that allows aspiring entrepreneurs to test the potential of their ideas before launching a venture.
The book will be of interest to business and entrepreneurship scholars and teachers, students and aspiring entrepreneurs who are looking for prescriptive tools to help them launch a successful business.
James O. Fiet, Brown Forman Chair in Entrepreneurship and Director of the Entrepreneurship PhD Program, University of Louisville, US
Contents: Preface Part I: The Prescriptive Imperative 1. The Promise of Prescriptive Entrepreneurship 2. A Theoretical Basis for Prescriptive Entrepreneurship Part II: Testing Prescriptions 3. Luck and the Systematic Search for Discoveries 4. Measuring and Predicting Wealth Creation 5. Testing Constrained, Systematic Search 6. Taking a Second Look at Systematic Search: New Evidence from Experimental Trials 7. Systematic Search and its Relationship to Firm Founding Part III: Inferences for Theory and Practice 8. Forgiving Business Models 9. Foundations of Prescriptive Entrepreneurship Bibliography Index