Field of Expertise «Entrepreneurial Development»

Alexander Fust on the university's research platform «Alexandria»

External researchers: Prof. Dr. Tobias Jenert Universität Paderborn, Prof. Dr. Christoph Winkler IONA College NY

Developing Entrepreneurial Personalities

The dynamics and uncertainties of business life are immense: the aftermath of COVID-19, challenges in supply markets, the war in Ukraine, shifting customer needs, and changing market conditions. In such an environment, obtaining critical new information is essential as a foundation for entrepreneurial decision-making. We focus on self-regulated entrepreneurial learning, a systematic approach for entrepreneurs to learn efficiently and effectively in uncertain contexts. Specifically, we are interested in their learning strategies, activities, and how they regulate their motivation to remain productive. Additionally, we examine how entrepreneurs can leverage digitalization for their benefit.

Our research deals with the following topics:

• How do entrepreneurs search for new business ideas?
• How can entrepreneurs learn more systematically to acquire relevant information more efficiently and effectively?
• How do entrepreneurs regulate their motivation under significant uncertainty and remain productive?
• What does digitalization mean concretely for entrepreneurs?
• Which AI applications can SMEs utilize?

Key publications

• Winkler, C., Jenert T. & Fust, A. (2021). From entrepreneurial experience to expertise: A self-regulated learning perspective (JSBM, Journal of Small Business Management)
• Fust, A., Graf, A., Züger, T., Brunner, C., & Baghdassarian, M. (2020). Ein Leitfaden für die Digitalisierung in KMU. Wie digitale Anwendungen die internen Prozesse verbessern. St. Gallen: OBT AG.
• Fust, A. P., Jenert, T., & Winkler, C. (2017). Experiential or Self-Regulated Learning: A Critical Reflection of Entrepreneurial Learning Processes. Entrepreneurship Research Journal, 8(2).
• Winkler, C., Fust, A., & Jenert, T. (2016). Differentiating Novice, Non-expert and Expert Entrepreneurs: A Self-regulated Learning Perspective. In Academy of Management Proceedings (Vol. 2016, No. 1, p. 12056). Briarcliff Manor, NY 10510: Academy of Management.
• Fust, A., Wustrow, P. & Fueglistaller, U. (2016). Entrepreneurial Information Search Behavior for Opportunity Recognition: Scale Development and Validation. Frontiers of Entrepreneurship Research: 36(11).
• Wustrow, P. S. F. (2018). Entrepreneurial Information Search Behavior for Opportunity Recognition Measurement – Antecedents – Outcomes. Dissertation an der Universität St. Gallen
• Fueglistaller, U., Fust, A., Schaffner, R., & Ammann, M. (2016). KMU und die Einführung von ERP-Systemen. Ein Leitfaden für die unternehmerische Praxis mit IT-unterstützter Ressourcenplanung und-steuerung.
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Projects

Main project 2021-2025

Our main research project is supported by the SNSF project «Self-Regulation and Dealing with Uncertainty: How to Support Entrepreneurs in Coping with Uncertain Decision-Making». Our research activities contribute to both fundamental and applied research.

Contributions to Fundamental Research:

In fundamental research, we focus on two central topics: 1. Search Processes for Business Ideas and 2. Self-Regulated Entrepreneurial Learning (SREL).

1. Search Processes for Business Ideas: Our research has shown that entrepreneurs search for business ideas in different ways-passively, actively, and systematically. We have developed a new scale and identified factors that foster the development of innovative business ideas.

2. Self-Regulated Entrepreneurial Learning (SREL): SREL refers to the ability of entrepreneurs to make their learning processes more effective, efficient, and systematic through self-regulation. This enhances their ability to navigate uncertainty and make well-founded decisions. The self-regulation process operates at cognitive, metacognitive, and motivational levels. As this research area is still emerging, we have developed unique measurement tools and established foundational insights. Through over 400 interviews and additional quantitative studies, we have demonstrated that SREL is a crucial method for navigating uncertainty and fostering innovation.

Contributions to applied research:

The topics above are also implemented in applied research by reflecting the results with peer groups and continuously advancing the approach. We have integrated elements of these findings into our framework for SME leadership competencies. Additionally, we explore how digitalization can be made tangible and comprehensible for SMEs. Our goal is to provide practical tools and actionable solutions for SMEs to leverage digitalization effectively.

Impact and transfer

All these topics are implemented in various ways within the realm of knowledge transfer. This includes presenting findings at entrepreneur conferences, conducting workshops with entrepreneurs, and incorporating insights into our peer groups. Another key aspect of our work is the development and implementation of tailored interventions for entrepreneurs. These workshops equip participants with the necessary skills and capabilities to thrive in today's dynamic world.

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