How Failure Leads to Learning among Nascent Entrepreneurs? The Evidence of Entrepreneurial Failure and Its Relationship to Entrepreneurial Learning
Abstract
This paper investigates and examines the relationship between entrepreneurial failure and entrepreneurial learning that can be absorbed by nascent entrepreneurs. It also reveals the possible forms of learning that happen to nascent entrepreneurs as an outcome of failure. A quantitative study with relational approach with 180 failed nascent entrepreneurs in Padang, Indonesia was undertaken as the research method and study context. Data and information were collected by using a questionnaire (offline and online) as the research instrument. Statistical protocol in terms of validity and reliability tests as well as hypothesis testing, using SPSS 23 as the statistical tool were operated to analyze the data. The study found that entrepreneurial failure has significantly influenced [a] entrepreneurial learning of nascent entrepreneurs in the context of the study, [b] the ability to detect errors in business, as well as [c] error correction by nascent entrepreneurs. The study also reveals the fact that the serial entrepreneurship process occurs for nascent entrepreneurs in the context of study.
Keywords: entrepreneurial failure, entrepreneurial learning, nascent entrepreneurs, error detection, error correction
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