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

Cherisse Hoyte, Hannah Noke, Simon Mosey, Susan Marlow

    Research output: Contribution to journalArticle

    1 Citation (Scopus)
    60 Downloads (Pure)

    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 decision of entrepreneurs to act and create a new venture.

    Original languageEnglish
    Pages (from-to)268-288
    Number of pages21
    JournalInternational Small Business Journal
    Volume37
    Issue number3
    Early online date3 Jan 2019
    DOIs
    Publication statusPublished - 1 May 2019

    Bibliographical note

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    Keywords

    • entrepreneurial process
    • new venture creation
    • sensegiving
    • sensemaking
    • venture ideas

    ASJC Scopus subject areas

    • Business and International Management

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