From venture idea to venture formation: the role of sensemaking, sensegiving and sense receiving

Hoyte, C.; Noke, H.; Mosey, S.; Marlow, S.

Abstract

This article explores the sensemaking processes entrepreneurs use when transitioning between venture ideas and venture formation. Adopting a sensemaking/sensegiving approach and utilising an interpretivist methodology, we use sensemaking to analyse the entrepreneurial journey of four diverse entrepreneurs. In so doing, we make three contributions: first, we locate the early stages of the entrepreneurial context as a primary site where sensemaking occurs as entrepreneurs deal with the differences between expectations and reality. Second, we show how sensemaking occurs when entrepreneurs build a causal map of the problem they wish to address and how social exchanges are crucial as entrepreneurs then refine that idea with other sensegivers. Finally, we extend scholarly understanding through explaining the ways in which sensemaking, sensegiving and sense receiving contribute to the entrepreneurs' decision to act and create a new venture.

Citation

Hoyte, C., Noke, H., Mosey, S., & Marlow, S. (2019). From venture idea to venture formation: the role of sensemaking, sensegiving and sense receiving. International Small Business Journal, 37(3), 268-288. https://doi.org/10.1177/0266242618818876

• Journal Article Type: Article
• Acceptance Date: Dec 3, 2018
• Online Publication Date: Jan 3, 2019
• Publication Date: 2019-05
• Deposit Date: Dec 17, 2018
• Publicly Available Date: Dec 17, 2018
• Journal: International Small Business Journal: Researching Entrepreneurship
• Print ISSN: 0266-2426
• Electronic ISSN: 1741-2870
• Publisher: SAGE Publications
• Peer Reviewed: Peer Reviewed
• Volume: 37
• Issue: 3
• Pages: 268-288
• DOI: https://doi.org/10.1177/0266242618818876
• Keywords: Business and International Management
• Public URL: https://nottingham-repository.worktribe.com/output/1419462
• Publisher URL: https://journals.sagepub.com/doi/abs/10.1177/0266242618818876
• Contract Date: Dec 17, 2018