| dc.description.abstract | This research is a qualitative analysis on how entrepreneurs can fail in the most effective way.
The study draws on various theories to address our research questions, including sunk cost,
domino effect, decision avoidance, crisis management, risk analysis, balanced scorecard, time
management, and communication. These theories form the foundation of our investigation.
Additionally, the research introduces us to various entrepreneurs and their characteristics,
highlighting how their traits significantly influence their handling of failures, both
physiologically and psychologically. The paper guides us through a theoretical understanding
and its application in practice.
Our findings indicate that leaders often make irrational decisions and frequently put
themselves in avoidable situations by failing to implement various forms of analysis before
making decisions. The study discusses which analyses are best suited to mitigate critical
pitfalls, with particular emphasis on sunk cost and decision avoidance.
This research has both practical and theoretical implications. Practically, entrepreneurs can
make calculated decisions independent of situational factors, potentially saving their company
or, at the very least, preserving financial or non-financial assets. Theoretically, academics can
gain a broader perspective on the value of a startup and continuously work to preserve these
values during its dissolution. | |