Evidence-based Management and Entrepreneurship
Managers, business-owners and entrepreneurs have to continuously make far-reaching strategic and operative decisions largely impacting the fortune of their firms. For these decision-making processes information has to be gathered, analyzed and evaluated. However, if the decision-makers gather incomplete, or even erroneous information, or are not able to analyze and evaluate “good” information appropriately they risk wasting valuable resources, to miss business opportunities or even the viability of their firms.
Given their resource constraints, young, small and entrepreneurial firms are particularly prone to failure when making their decisions on the basis of invalid or unreliable information. Evidence-based practice can help entrepreneurs to critically evaluate the generalizability and applicability of the evidence they have in hand and how to find the ”˜best available’ evidence.
Entrepreneurial decisions should be based on a combination of critical thinking and the best available ”˜evidence’. The evidence enables the entrepreneur to make more suitable decisions instead of following so-called ”˜best practice’ and success stories of famous CEOs that probably don’t fit to his own venture. Evidence-based management can thereby secure the choice of effective and efficient managerial practices.
To make evidence-based decisions, entrepreneurs need to know how to look for studies in online databases, and how to assess the quality of the studies found. They need to learn how to evaluate the validity of studies and the applicability for their own business. This is the reason why we have incorporated evidence-based practice for entrepreneurs into our curriculum. We not only provide knowledge of the research field and methodology, but also teach entrepreneurs how to think scientifically in order to counterbalance to the subjectivity of their own judgment.
With our activities, we seek to develop evidence-based managers and entrepreneurs who are capable to gather, analyze and evaluate scientific evidence in an efficient manner and thus to make sound strategic choices.
For further information on Evidence-based Management and Entrepreneurship also visit the following websites
Interdisciplinary Research Unit on Evidence-based Management and Entrepreneurship:
Center for Evidence-Based Management: