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In the contemporary, highly turbulent, fiercely competitive and volatile business world, both the internal and external operating environments of organizations are undergoing alterations that force them to adapt continuously to new conditions. It seems that nowadays the only constant factor in an organization’s reality is the existence of ceaseless changes and the consequent imperative for them to respond effectively to these changes. It becomes increasingly important for organizations to adapt quickly to alterations and learn how to be innovative in order to remain competitive. Their sustainability and long-term well-being lie in their critical ability to innovate continuously with the aim of meeting the changeable demands of their unstable operating environment. Therefore, organizations have entered a new era in which the notion of serial entrepreneurship becomes more crucial than ever. Contrary to a typical entrepreneur who comes up once with an idea, launches a new business and focuses on its day-to-day functioning, a serial entrepreneur continuously grasps market opportunities, generates new ideas and starts new businesses by utilizing his or her enriched knowledge base and accumulated experience. Fully aware of market volatility, serial entrepreneurs dominate the dynamics of their industries by effectively leveraging organizational and network capabilities to achieve increased venture performance (Plehn-Dujowich, 2010). Anokhin et al. (2010) |
