Entrepreneurial Failure: distinct perceptions among founders, employees, and investors A narrative approach for understanding the concept of entrepreneurial failure
This study explores the perception of entrepreneurial failure by different actors in entrepreneurship. Entrepreneurial failure has emerged as an important concept within entrepreneurship literature, since it might impact economic development and innovation of society. Using a qualitative study with a narrative approach, this paper analyzes perceptions of 41 founders, 28 employees, and 14 investors about new venture failure concept. The results show the existence of different perspectives concerning failure. These differing views indicate diverging goals that results in the major tensions among different groups.