Adjusting the Sails: Investigating the Feedback Loop of the Opportunity Development Process in Entrepreneurship Training

Fokko-Jelto Eller; Michael Marcus Gielnik; Jesus Yeves; Yaneli C. Alvarado; Ofelia A. Guerrero

doi:10.5465/amle.2020.0041

Adjusting the Sails: Investigating the Feedback Loop of the Opportunity Development Process in Entrepreneurship Training

Fokko-Jelto Eller
, Michael Marcus Gielnik
, Jesus Yeves
, Yaneli C. Alvarado
, Ofelia A. Guerrero

Professorship of Psychology, in particular Entrepreneurship

Research output: Journal contributions › Journal articles › Research › peer-review

17 Citations (Scopus)

Abstract

Why does entrepreneurship training work? We argue that the feedback loop of the opportunity development process is a training element that can explain the effectiveness of entrepreneurship training. Building on action regulation theory, we model the feedback loop as a recursive cycle of changes in the business opportunity, goals, performance outcomes, and feedback. Furthermore, we hypothesize that error orientation and monitoring can strengthen or weaken the cycle, and that going through the feedback loop during training explains short- and long-term training outcomes. To test our hypotheses, we collected data before, during, and after an entrepreneurship training program. Results support our hypotheses, suggesting that the feedback loop of the opportunity development process is a concept that can explain why entrepreneurship training is effective.

Original language	English
Journal	Academy of Management Learning & Education
Volume	21
Issue number	2
Pages (from-to)	209-235
Number of pages	27
ISSN	1537-260X
DOIs	https://doi.org/10.5465/amle.2020.0041
Publication status	Published - 01.06.2022

Bibliographical note

Funding Information:
This paper was supported by the German and Mexican Commission for UNESCO, and the BASF Stiftung. We thank Katharina Arriens, Svenja Berg, Gianna Henkel, and Saskia Kopf for their support in collecting the data. Special thanks go to Prof. Michael Frese as the initiator of the STEP project, and to the STEP teams at Instituto Tecnolo-gico Autonomo de Mexico, Tecnologico Nacional de Mexico, and in particular the Instituto Tecnologico de Gustavo A. Madero and the Instituto Tecnologico de Puebla.

Publisher Copyright:
© 2022 George Washington University. All rights reserved.

Research areas and keywords

Entrepreneurship
Business psychology

ASJC Scopus Subject Areas

Organizational Behavior and Human Resource Management
Education

Access to Document

10.5465/amle.2020.0041

STEP – Student Training for Entrepreneurial Promotion has a wide-ranging impact
Frese, M. (Participant), Gielnik, M. M. (Participant), Peschmann, J. (Participant) & Herrmann, P. J. (Participant)
Impact: Academic Impact, Economic Impact, Educational Impact, Environmental Impact, Health and Quality of Life Impact

Cite this

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title = "Adjusting the Sails: Investigating the Feedback Loop of the Opportunity Development Process in Entrepreneurship Training",

abstract = "Why does entrepreneurship training work? We argue that the feedback loop of the opportunity development process is a training element that can explain the effectiveness of entrepreneurship training. Building on action regulation theory, we model the feedback loop as a recursive cycle of changes in the business opportunity, goals, performance outcomes, and feedback. Furthermore, we hypothesize that error orientation and monitoring can strengthen or weaken the cycle, and that going through the feedback loop during training explains short- and long-term training outcomes. To test our hypotheses, we collected data before, during, and after an entrepreneurship training program. Results support our hypotheses, suggesting that the feedback loop of the opportunity development process is a concept that can explain why entrepreneurship training is effective.",

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note = "Funding Information: This paper was supported by the German and Mexican Commission for UNESCO, and the BASF Stiftung. We thank Katharina Arriens, Svenja Berg, Gianna Henkel, and Saskia Kopf for their support in collecting the data. Special thanks go to Prof. Michael Frese as the initiator of the STEP project, and to the STEP teams at Instituto Tecnolo-gico Autonomo de Mexico, Tecnologico Nacional de Mexico, and in particular the Instituto Tecnologico de Gustavo A. Madero and the Instituto Tecnologico de Puebla. Publisher Copyright: {\textcopyright} 2022 George Washington University. All rights reserved.",

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AU - Yeves, Jesus

AU - Alvarado, Yaneli C.

AU - Guerrero, Ofelia A.

N1 - Funding Information: This paper was supported by the German and Mexican Commission for UNESCO, and the BASF Stiftung. We thank Katharina Arriens, Svenja Berg, Gianna Henkel, and Saskia Kopf for their support in collecting the data. Special thanks go to Prof. Michael Frese as the initiator of the STEP project, and to the STEP teams at Instituto Tecnolo-gico Autonomo de Mexico, Tecnologico Nacional de Mexico, and in particular the Instituto Tecnologico de Gustavo A. Madero and the Instituto Tecnologico de Puebla. Publisher Copyright: © 2022 George Washington University. All rights reserved.

PY - 2022/6/1

Y1 - 2022/6/1

N2 - Why does entrepreneurship training work? We argue that the feedback loop of the opportunity development process is a training element that can explain the effectiveness of entrepreneurship training. Building on action regulation theory, we model the feedback loop as a recursive cycle of changes in the business opportunity, goals, performance outcomes, and feedback. Furthermore, we hypothesize that error orientation and monitoring can strengthen or weaken the cycle, and that going through the feedback loop during training explains short- and long-term training outcomes. To test our hypotheses, we collected data before, during, and after an entrepreneurship training program. Results support our hypotheses, suggesting that the feedback loop of the opportunity development process is a concept that can explain why entrepreneurship training is effective.

AB - Why does entrepreneurship training work? We argue that the feedback loop of the opportunity development process is a training element that can explain the effectiveness of entrepreneurship training. Building on action regulation theory, we model the feedback loop as a recursive cycle of changes in the business opportunity, goals, performance outcomes, and feedback. Furthermore, we hypothesize that error orientation and monitoring can strengthen or weaken the cycle, and that going through the feedback loop during training explains short- and long-term training outcomes. To test our hypotheses, we collected data before, during, and after an entrepreneurship training program. Results support our hypotheses, suggesting that the feedback loop of the opportunity development process is a concept that can explain why entrepreneurship training is effective.

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Adjusting the Sails: Investigating the Feedback Loop of the Opportunity Development Process in Entrepreneurship Training

Abstract

Bibliographical note

Research areas and keywords

ASJC Scopus Subject Areas

Access to Document

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Impacts

STEP – Student Training for Entrepreneurial Promotion has a wide-ranging impact

Cite this