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Re-entrepreneurial experience and learning during challenging times
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Re-entrepreneurial experience and learning during challenging times
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Journal Article
Re-entrepreneurial experience and learning during challenging times
2025
Overview
This study theorizes how entrepreneurs in an emerging economy deal with adverse external scenarios by taking advantage of their previous business failure experiences. Using grounded theory and multiple case study approach, we found that individuals with re-entrepreneurial experiences exhibit greater resilience and prioritize re-building social capital as part of their crisis management tactics. This finding contrasts with those who are new entrepreneurs who do not have failure experience. Our study provides a conceptual framework to understand what re-entrepreneurs have learned from previous failure/crisis experiences to build resilience and strategically manage internal crises that were caused by exogenous events (e.g., social movements and the COVID-19 pandemic). Policymakers, entrepreneurs, and educators can benefit from the re-entrepreneurs’ learning lessons and strategic implications of this study.
Plain English Summary
Re-entrepreneurs have learned how to re-build strategic social capital to balance the emotional, financial, and social costs of previous business failures. Therefore, a re-entrepreneur is a common type of entrepreneur who will be more resilient in adverse contexts, strategically responds to these scenarios with tactics that protect/expand their social capital, and adopts exploratory behavior to find market signals. This results from a unique learning process that depends on overcoming critical incidents. This type of learning process was tested during an event that combined the effects of a social movement crisis with the COVID-19 pandemic in an emerging-economy country.
