TCU Neeley Research Highlight - Associate professor and Department Chair of Entrepreneurship and Innovation, Will Drover along with other experts dive into the understanding of missed external enablement.
June 30, 2023
TCU Neeley School of Business associate professor, Will Drover, in collaboration with Matthew S. Wood, and David W. Williams explore how entrepreneurs sometimes miss out on valuable opportunities for growth due to a lack of clarity about external changes. Their research introduces the concept of "missed external enablement," where entrepreneurs fail to act on significant environmental changes that could accelerate their ventures. Their findings identify factors contributing to this inaction and suggests strategies for entrepreneurs to navigate and capitalize on such changes effectively. (Strategic Entrepreneurship Journal, 2023).
Abstract
Research Summary
This article introduces the concept of missed external enablement as a choice not to act on significant change in the business environment that later proves to be a meaningful accelerant for an entrepreneurial endeavor. There has been little consideration to date of such errors of omission. In response, we model the opacity and the agent intensity of enablement as fuel for inaction, leading to missed enablement. We then specify factors, such as magnitude of the miss, that strengthen or weaken the effect. As this unfolds, entrepreneurs consider how to best respond, and we model various response paths that may increase or decrease subsequent entrepreneurial action, where the path is again influenced by opacity and agent intensity. The theory generated exposes new facets of external enablement.
Managerial Summary
The effects of external change are shrouded in opacity. It is therefore difficult for entrepreneurs to discern whether change benefits one's endeavor and if it does, whether the effort, time, and resources are available to capitalize on it. Hence, it is rather easy to mistakenly choose entrepreneurial inaction. Our theory addresses the complexity and richness of these dynamics as they lead to missed external enablement, and our model outlines specific ways entrepreneurs might respond when they miss out on the benefits of external change. The insights we generate highlight the effects of entrepreneurs' exposure to many changes in the business environment over time, where the actions of others coupled with one's own past interpretations of the meaning of external changes influence what follows.
