Evidence-Based Management for Entrepreneurial Environments: Faster and Better Decisions with Less Risk
20 Pages Posted: 5 Mar 2010 Last revised: 18 Mar 2010
Date Written: March 2010
Entrepreneurship is risky. Most new technologies and new businesses fail. Shane (2008) reported that 25% of new businesses failed in the first year and that by the fifth year, fewer than half had survived. In the United Kingdom, Stark (2001) presented data showing a 75% failure rate for small and medium-sized enterprises in the first three years. The risk and high failure rate is because most new ideas and technologies are not good and are, therefore, rejected by the marketplace.
Keywords: entrepreneurship, evidence based management
JEL Classification: G30
Suggested Citation: Suggested Citation