Evidence-Based Management for Entrepreneurial Environments: Faster and Better Decisions with Less Risk

20 Pages Posted: 5 Mar 2010 Last revised: 18 Mar 2010

See all articles by Jeffrey Pfeffer

Jeffrey Pfeffer

Stanford Graduate School of Business

Date Written: March 2010

Abstract

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

Pfeffer, Jeffrey, Evidence-Based Management for Entrepreneurial Environments: Faster and Better Decisions with Less Risk (March 2010). Rock Center for Corporate Governance at Stanford University Working Paper No. 75, Stanford University Graduate School of Business Research Paper No. 2051, Available at SSRN: https://ssrn.com/abstract=1564422 or http://dx.doi.org/10.2139/ssrn.1564422

Jeffrey Pfeffer (Contact Author)

Stanford Graduate School of Business ( email )

655 Knight Way
Stanford, CA 94305-5015
United States

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