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JOURNAL OF APPLIED BUSINESS AND ECONOMICS
Resolving the Risk Paradox: Entrepreneurial Cognition in the Lean Startup Method
Author(s): Ted Ladd, Lori Kendall
Citation: Ted Ladd, Lori Kendall, (2017) "Resolving the Risk Paradox: Entrepreneurial Cognition in the Lean Startup Method," Journal of Applied Business and Economics, Vol. 19, Iss.11, pp.27-41
Article Type: Research paper
Publisher: North American Business Press
Abstract:
The relationships between entrepreneurial orientation and both entrepreneurial intention and
entrepreneurial self-efficacy for searching for new ideas strengthen during the Lean Startup Method.
Moreover, although the 99 students in a graduate business class did not show a significant change in
their traits of aggressiveness, autonomy, and innovativeness, they displayed a significant decline in their
proclivity to take risks. These results conclude that the Lean process alters entrepreneurs’ cognition to
both increase the likelihood of new venture creation and yet reduce the deleterious impacts of imprudent
risk-taking in subsequent decisions.
