Practitioners are promoting entrepreneurship and a learning society to generate the economic benefits associated with new venture formation and growth. Experimental learning theory (ELT) asserts that the acquisition and transformation of experience is central to the learning process. However, there is debate and limited empirical evidence over whether prior failure rather than success shapes organizational learning, particularly in relation to types of habitual entrepreneurs.
Westhead, Paul; Robson, Paul; and Wright, Mike
"ENTREPRENEURIAL LEARNING, REPEAT ENTREPRENEURS AND BUSINESS OWNERSHIP SUCCESS AND FAILURE EXPERIENCE (SUMMARY),"
Frontiers of Entrepreneurship Research: Vol. 33
, Article 13.
Available at: http://digitalknowledge.babson.edu/fer/vol33/iss4/13