Balancing the Tradeoff between Personal Fulfillment and Competitiveness in Venture Creation

Simon Halberstadt (), Matthias G. Raith () and Thomas Zomack
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Simon Halberstadt: Faculty of Economics and Management, Otto-von-Guericke University Magdeburg
Matthias G. Raith: Faculty of Economics and Management, Otto-von-Guericke University Magdeburg
Thomas Zomack: Faculty of Economics and Management, Otto-von-Guericke University Magdeburg

No 9021, FEMM Working Papers from Otto-von-Guericke University Magdeburg, Faculty of Economics and Management

Abstract: The fascination of venture creation is associated with an entrepreneur’s opportunity of achieving personal fulfillment. In reality, however, many nascent entrepreneurs discover that much of their original vision is sacrificed in the process of creating a startup. In this paper we address the conflict between the entrepreneur’s fulfillment and the startup’s competitiveness from a negotiationanalytic perspective. We show how the nature of this conflict is transformed in the process of business planning, and we demonstrate how a purely marketoriented focus on expansion serves to enhance personal fulfillment. Our analytical approach has practical implications for business development and entrepreneurial education.

Keywords: Venture Creation; Business Development; Negotiation Analysis (search for similar items in EconPapers)
Pages: 30 pages
Date: 2009-07
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