How do nascent entrepreneurs use imagination in the venture creation process? A weekly diary study

Arjan Frederiks, Michel Ehrenhard, Aard Groen

Research output: Chapter in Book/Report/Conference proceedingConference contributionAcademicpeer-review


Imagination is important in the venture creation process according to the literature, but little is known about how entrepreneurs use their imagination. We analyzed weekly diaries that were kept by entrepreneurs. We found that to imagine the future state of the company, and scenarios and plans, entrepreneurs need to use prospective thinking and counterfactual thinking. To imagine the (inter)actions of stakeholders of the company, entrepreneurs need to use prospective thinking and perspective taking. Our ndings suggest that entrepreneurs indeed use their imagination and that business outcomes of imagination differ signi cantly by the imagination process.
Original languageEnglish
Title of host publicationFrontiers of Entrepreneurship Research
Place of PublicationWellesley, MA
PublisherBabson College
Number of pages14
Publication statusPublished - 2013
Externally publishedYes

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