Dr. Dean Shepard talks about Learning from failure on entrepreneurial efforts.  


Dr. K (Donald Kuratko) interviews with him and draws insights on Entrepreneurship. 

Dr. Sheperd says...

1. When people encounter a failure, they would be angry, upset, and feel anxiety and grief. 
2. Recovering from the grief is important to start a new entrepreneurial effort. 
3. People would have two types of emotional orientation toward a grief: Loss orientation and Restoration orientation. 
4. Emotional regulation capability to have more restoration orientation than loss orientation is quite critical for an entrepreneurs who experiences failure. Having more restoration orientation enables him/her to regulate their cognitive and emotional toward a positive side and to try an entrepreneurial effort again.
5. Corporate entrepreneurs who work for an organization also experience many 'project failures' and they are not different from (conventional) entrepreneurs. 
6. "Stigma" 
7. Dynamic and collective grief management efforts in a family or an organization are helpful for failing or failed entrepreneurs to recover themselves from a loss orientation focusing on grief, and drive them into restoration orientation focusing on a next entrepreneurial opportunity.

Thoughts & Inquiries: (in a large organization)
A. To what extent, does the emotion regulation capabilities affect entrepreneurial performances?
B. To what extent, does the emotional regulation capabilities affect (organizational) learning?
C. To what extent, does the learning from failure affect entrepreneurial performances?
D. Does culture (e.g. national, organizational, family) correlate with emotion regulation?  
E. What contents or practices are implemented or trained to improve emotion regulation capabilities?
These are my questions. 

J. Choi. 

New Book: From Lemons to Lemonade - Squeeze Every Last Drop of Success Out of Your Mistakes By Dean A. Shepherd. 


Posted by Jeonghwan Choi

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