Abstract
New product development (NPD) project failure, a common occurrence for high-tech firms, serves as an important source of learning and breeds future success, thereby prompting scholars to investigate the mechanisms of learning from NPD project failure. Studies has revealed the cognitive and emotional mechanisms underlying learning, and has investigated the role of post-failure factors in affecting these mechanisms; However, the influence of pre-failure factors is under-developed. Drawing upon the risk-as-feelings perspective, our study fills this gap by investigating one crucial pre-failure factor – risk anticipation. Our study categorizes risk anticipation into the likelihood anticipation and the magnitude anticipation, and hypothesizes that these two dimensions of risk anticipation affect learning from project failure distinctively. Based on two-wave data collected from 232 project managers in high-tech firms, we find likelihood anticipation positively affects learning from project failure primarily through a cognitive mechanism, as indicated by a positive mediation effect of decision-making comprehensiveness. In contrast, magnitude anticipation negatively affects learning from project failure primarily through an emotional mechanism, as indicated by a negative mediation effect of decision-making comprehensiveness. We shed light on the risk management practices for NPD project in high-tech firms, and offers insights into the post-project learning that breeds future NPD project success.
Funding source: National Natural Science Foundation of China
Award Identifier / Grant number: 72502059
Award Identifier / Grant number: 72532008
Award Identifier / Grant number: 72232010
-
Research funding: This work was supported by the National Natural Science Foundation of China (72502059; 72532008; 72232010).
References
Alexiev, Alexander, Henk Volberda, Justin Jansen, and Frans Van Den Bosch. 2020. “Contextualizing Senior Executive Advice Seeking: The Role of Decision Process Comprehensiveness and Empowerment Climate.” Organization Studies 41 (4): 471–97. https://doi.org/10.1177/0170840619830128.Suche in Google Scholar
Atuahene-Gima, Kwaku, and Haiyang Li. 2004. “Strategic Decision Comprehensiveness and New Product Development Outcomes in New Technology Ventures.” Academy of Management Journal 47 (4): 583–97. https://doi.org/10.5465/20159603.Suche in Google Scholar
Barki, Henri, Suzanne Rivard, and Jean Talbot. 2001. “An Integrative Contingency Model of Software Project Risk Management.” Journal of Management Information Systems 17 (4): 37–69. https://doi.org/10.1080/07421222.2001.11045666.Suche in Google Scholar
Camerer, Colin, and Martin Weber. 1992. “Recent Developments in Modeling Preferences: Uncertainty and Ambiguity.” Journal of Risk and Uncertainty 5 (4): 325–70. https://doi.org/10.1007/BF00122575.Suche in Google Scholar
Carver, Charles S. 2006. “Approach, Avoidance, and the Self-Regulation of Affect and Action.” Motivation and Emotion 30 (2): 105–10. https://doi.org/10.1007/s11031-006-9044-7.Suche in Google Scholar
Chan, Haksin, Lisa C. Wan, and Leo Y. M. Sin. 2009. “The Contrasting Effects of Culture on Consumer Tolerance: Interpersonal Face and Impersonal Fate.” Journal of Consumer Research 36 (2): 292–304. https://doi.org/10.1086/597329.Suche in Google Scholar
Chen, Mo, Chao C. Chen, and Oliver J. Sheldon. 2016. “Relaxing Moral Reasoning to Win: How Organizational Identification Relates to Unethical Pro-organizational Behavior.” Journal of Applied Psychology 101 (8): 1082. https://doi.org/10.1037/apl0000111.Suche in Google Scholar
Cope, Jason. 2011. “Entrepreneurial Learning from Failure: An Interpretative Phenomenological Analysis.” Journal of Business Venturing 26 (6): 604–23. https://doi.org/10.1016/j.jbusvent.2010.06.002.Suche in Google Scholar
Corbett, Andrew C., Heidi M. Neck, and Dawn R. DeTienne. 2007. “How Corporate Entrepreneurs Learn from Fledgling Innovation Initiatives: Cognition and the Development of a Termination Script.” Entrepreneurship Theory and Practice 31 (6): 829–52. https://doi.org/10.1111/j.1540-6520.2007.00208.x.Suche in Google Scholar
Dikmen, I., M. T. Birgonul, C. Anac, J. H. M. Tah, and G. Aouad. 2008. “Learning from Risks: A Tool for Post-Project Risk Assessment.” Automation in Construction 18 (1): 42–50. https://doi.org/10.1016/j.autcon.2008.04.008.Suche in Google Scholar
Fornell, Claes, and David F. Larcker. 1981. “Evaluating Structural Equation Models with Unobservable Variables and Measurement Error.” Journal of Marketing Research 18 (1): 39–50. https://doi.org/10.1177/002224378101800104.Suche in Google Scholar
Hartono, Budi, Sinta R. Sulistyo, Poetry P. Praftiwi, and Danar Hasmoro. 2014. “Project Risk: Theoretical Concepts and Stakeholders’ Perspectives.” International Journal of Project Management 32 (3): 400–11. https://doi.org/10.1016/j.ijproman.2013.05.011.Suche in Google Scholar
Hayward, Mathew L. A., William R. Forster, Saras D. Sarasvathy, and Barbara L. Fredrickson. 2010. “Beyond Hubris: How Highly Confident Entrepreneurs Rebound to Venture Again.” Journal of Business Venturing 25 (6): 569–78. https://doi.org/10.1016/j.jbusvent.2009.03.002.Suche in Google Scholar
Hsu, Dan K., Wiklund Johan, and Richard D. Cotton. 2017. “Success, Failure, and Entrepreneurial Reentry: An Experimental Assessment of the Veracity of Self–Efficacy and Prospect Theory.” Entrepreneurship Theory and Practice 41 (1): 19–47. https://doi.org/10.1111/etap.12166.Suche in Google Scholar
Huang, Tori Y., Vangelis Souitaris, and Sigal G. Barsade. 2019. “Which Matters More? Group Fear versus Hope in Entrepreneurial Escalation of Commitment.” Strategic Management Journal 40 (11): 1852–81. https://doi.org/10.1002/smj.3051.Suche in Google Scholar
Hutchison-Krupat, Jeremy, and Raul O. Chao. 2014. “Tolerance for Failure and Incentives for Collaborative Innovation.” Production and Operations Management 23 (8): 1265–85. https://doi.org/10.1111/poms.12092.Suche in Google Scholar
Jaafari, Ali. 2001. “Management of Risks, Uncertainties and Opportunities on Projects: Time for a Fundamental Shift.” International Journal of Project Management 19 (2): 89–101. https://doi.org/10.1016/S0263-7863(99)00047-2.Suche in Google Scholar
Jenkins, Anna S., Johan Wiklund, and Ethel Brundin. 2014. “Individual Responses to Firm Failure: Appraisals, Grief, and the Influence of Prior Failure Experience.” Journal of Business Venturing 29 (1): 17–33. https://doi.org/10.1016/j.jbusvent.2012.10.006.Suche in Google Scholar
Joseph Hair, Rolph Anderson, Barry Babin, and William Black. 2009. Multivariate Data Analysis. Prentice Hall. https://elibrary.pearson.de/book/99.150005/9781292035116.Suche in Google Scholar
Kahneman, Daniel, and Amos Tversky. 1979. “Prospect Theory: An Analysis of Decision under Risk.” Econometrica 47 (2): 263–92. https://doi.org/10.2307/1914185.Suche in Google Scholar
Kamalanabhan, T. J., D. L. Sunder, and Amat Taap Manshor. 2006. “Evaluation of Entrepreneurial Risk-Taking Using Magnitude of Loss Scale.” Journal of Entrepreneurship 15 (1): 37–46. https://doi.org/10.1177/097135570501500103.Suche in Google Scholar
Knight, Frank H. 1921. Risk, Uncertainty and Profit. Houghton Mifflin.Suche in Google Scholar
Kutner, M. H., C. J. Nachtsheim, J. Neter, and W. Li. 2005. Applied Linear Statistical Models. McGraw-Hill Irwin.Suche in Google Scholar
Loewenstein, George F., Elke U. Weber, Christopher K. Hsee, and Ned Welch. 2001. “Risk as Feelings.” Psychological Bulletin 127 (2): 267–86. https://doi.org/10.1037/0033-2909.127.2.267.Suche in Google Scholar
Mann, Sandi. 1999. “Emotion at Work: To what Extent Are We Expressing, Suppressing, or Faking it?” European Journal of Work & Organizational Psychology 8 (3): 347–69. https://doi.org/10.1080/135943299398221.Suche in Google Scholar
March, James G., and Zur Shapira. 1987. “Managerial Perspectives on Risk and Risk Taking.” Management Science 33 (11): 1404–18. https://doi.org/10.1287/mnsc.33.11.1404.Suche in Google Scholar
Markovitch, Dmitri G., Joel H. Steckel, Anne Michaut, Deepu Philip, and William M. Tracy. 2015. “Behavioral Reasons for New Product Failure: Does Overconfidence Induce Overforecasts?” Journal of Product Innovation Management 32 (5): 825–41. https://doi.org/10.1111/jpim.12252.Suche in Google Scholar
Meissner, Philip, and Torsten Wulf. 2014. “Antecedents and Effects of Decision Comprehensiveness: The Role of Decision Quality and Perceived Uncertainty.” European Management Journal 32 (4): 625–35. https://doi.org/10.1016/j.emj.2013.10.006.Suche in Google Scholar
Mikels, Joseph A., Sam J. Maglio, Andrew E. Reed, and Lee J. Kaplowitz. 2011. “Should I Go with My Gut? Investigating the Benefits of Emotion-Focused Decision Making.” Emotion 11 (4): 743–53. https://doi.org/10.1037/a0023986.Suche in Google Scholar
Mullins, John W., and David Forlani. 2005. “Missing the Boat or Sinking the Boat: A Study of New Venture Decision Making.” Journal of Business Venturing 20 (1): 47–69. https://doi.org/10.1016/j.jbusvent.2003.08.001.Suche in Google Scholar
Neumann, J. von, and O. Morgenstern. 1947. Theory of Games and Economic Behavior. Princeton University Press.Suche in Google Scholar
Peljhan, Darja, and Mojca Marc. 2023. “Risk Management and Strategy Alignment: Influence on New Product Development Performance.” Technology Analysis & Strategic Management 35 (12): 1547–59. https://doi.org/10.1080/09537325.2021.2011192.Suche in Google Scholar
Podsakoff, Philip M., Scott B. MacKenzie, Jeong-Yeon Lee, and Nathan P. Podsakoff. 2003. “Common Method Biases in Behavioral Research: A Critical Review of the Literature and Recommended Remedies.” Journal of Applied Psychology 88 (5): 879–903. https://doi.org/10.1037/0021-9010.88.5.879.Suche in Google Scholar
Qureshi, Sheheryar Mohsin, and ChangWook Kang. 2015. “Analyzing the Organizational Factors of Project Complexity Using Structural Equation Modelling.” International Journal of Project Management 33 (1): 165–76. https://doi.org/10.1016/j.ijproman.2014.04.006.Suche in Google Scholar
Reina, Christopher S., Suzanne J. Peterson, and Zhen Zhang. 2017. “Adverse Effects of CEO Family-To-Work Conflict on Firm Performance.” Organization Science 28 (2): 228–43. https://doi.org/10.1287/orsc.2017.1114.Suche in Google Scholar
Savage, L. J. 1954. The Foundations of Statistics. John Wiley.Suche in Google Scholar
Seyed hosseini, Mohammad, and M. Hatee. 2009. “Two-Pillar Risk Management (TPRM): A Generic Project Risk Management Process.” Scientia Iranica 16 (2): 138–48.Suche in Google Scholar
Shepherd, Dean A. 2003. “Learning from Business Failure: Propositions of Grief Recovery for the Self-Employed.” Academy of Management Review 28 (2): 318–28. https://doi.org/10.5465/amr.2003.9416377.Suche in Google Scholar
Shepherd, Dean A., and Melissa S. Cardon. 2009. “Negative Emotional Reactions to Project Failure and the Self-Compassion to Learn from the Experience.” Journal of Management Studies 46 (6): 923–49. https://doi.org/10.1111/j.1467-6486.2009.00821.x.Suche in Google Scholar
Shepherd, Dean A., Jeffrey G. Covin, and Donald F. Kuratko. 2009. “Project Failure from Corporate Entrepreneurship: Managing the Grief Process.” Journal of Business Venturing 24 (6): 588–600. https://doi.org/10.1016/j.jbusvent.2008.01.009.Suche in Google Scholar
Shepherd, Dean A., Holger Patzelt, Trenton A. Williams, and Dennis Warnecke. 2014. “How Does Project Termination Impact Project Team Members? Rapid Termination, ‘Creeping Death’, and Learning from Failure.” Journal of Management Studies 51 (4): 513–46. https://doi.org/10.1111/joms.12068.Suche in Google Scholar
Shepherd, Dean A., Holger Patzelt, and Marcus Wolfe. 2011. “Moving Forward from Project Failure: Negative Emotions, Affective Commitment, and Learning from the Experience.” Academy of Management Journal 54 (6): 1229–59. https://doi.org/10.5465/amj.2010.0102.Suche in Google Scholar
Simon, Mark, Susan M. Houghton, and Karl Aquino. 2000. “Cognitive Biases, Risk Perception, and Venture Formation: How Individuals Decide to Start Companies.” Journal of Business Venturing 15 (2): 113–34. https://doi.org/10.1016/S0883-9026(98)00003-2.Suche in Google Scholar
Sońta-Drączkowska, Ewa, and Matthias Mrożewski. 2020. “Exploring the Role of Project Management in Product Development of New Technology-Based Firms.” Project Management Journal 51 (3): 294–311. https://doi.org/10.1177/8756972819851939.Suche in Google Scholar
Souitaris, Vangelis, and B. M. Marcello Maestro. 2010. “Polychronicity in Top Management Teams: The Impact on Strategic Decision Processes and Performance of New Technology Ventures.” Strategic Management Journal 31 (6): 652–78. https://doi.org/10.1002/smj.831.Suche in Google Scholar
Stosic, Biljana, Marko Mihic, Radul Milutinovic, and Sonja Isljamovic. 2017. “Risk Identification in Product Innovation Projects: New Perspectives and Lessons Learned.” Technology Analysis & Strategic Management 29 (2): 133–48. https://doi.org/10.1080/09537325.2016.1210121.Suche in Google Scholar
Tao, Xiangming, Paul J. A. Robson, and Catherine L. Wang. 2023. “To Learn or Not to Learn from New Product Development Project Failure: The Roles of Failure Experience and Error Orientation.” Technovation 127: 102830. https://doi.org/10.1016/j.technovation.2023.102830.Suche in Google Scholar
Trautmann, Stefan T., Ferdinand M. Vieider, and Peter P. Wakker. 2008. “Causes of Ambiguity Aversion: Known versus Unknown Preferences.” Journal of Risk and Uncertainty 36 (3): 225–43. https://doi.org/10.1007/s11166-008-9038-9.Suche in Google Scholar
Ucbasaran, Deniz, Dean A. Shepherd, Andy Lockett, and S. John Lyon. 2013. “Life after Business Failure: The Process and Consequences of Business Failure for Entrepreneurs.” Journal of Management 39 (1): 163–202. https://doi.org/10.1177/0149206312457823.Suche in Google Scholar
Wang, Wenzhou, Bin Wang, Ke Yang, Chong Yang, Wenlong Yuan, and Shanghao Song. 2018. “When Project Commitment Leads to Learning from Failure: The Roles of Perceived Shame and Personal Control.” Frontiers in Psychology 9. https://doi.org/10.3389/fpsyg.2018.00086.Suche in Google Scholar
Weber, M., and C. Camerer. 1987. “Recent Developments in Modelling Preferences under Risk.” Operations-Research-Spektrum 9 (3): 129–51. https://doi.org/10.1007/BF01721094.Suche in Google Scholar
Welpe, Isabell M., Matthias Spörrle, Dietmar Grichnik, Theresa Michl, and David B. Audretsch. 2012. “Emotions and Opportunities: The Interplay of Opportunity Evaluation, Fear, Joy, and Anger as Antecedent of Entrepreneurial Exploitation.” Entrepreneurship Theory and Practice 36 (1): 69–96. https://doi.org/10.1111/j.1540-6520.2011.00481.x.Suche in Google Scholar
Williams, Trenton A., Daniel A. Gruber, Kathleen M. Sutcliffe, Dean A. Shepherd, and Eric Yanfei Zhao. 2017. “Organizational Response to Adversity: Fusing Crisis Management and Resilience Research Streams.” The Academy of Management Annals 11 (2): 733–69. https://doi.org/10.5465/annals.2015.0134.Suche in Google Scholar
Yu, Xiaoyu, Tao Liu, Lin He, and Li Yajie. 2023. “Micro-Foundations of Strategic Decision-Making in Family Business Organisations: A Cognitive Neuroscience Perspective.” Long Range Planning 56 (5): 102198. https://doi.org/10.1016/j.lrp.2022.102198.Suche in Google Scholar
Yu, Xiaoyu, Yida Tao, Yi Chen, Weiyong Zhang, and Pinglei Xu. 2019. “Social Networks and Online Store Performance in Emerging Economies: The Mediating Effect of Legitimacy.” Electronic Markets 29 (2): 201–18. https://doi.org/10.1007/s12525-019-00333-2.Suche in Google Scholar
Yu, Xiaoyu, Yida Tao, Dan Wang, and Miles M. Yang. 2022. “Disengaging Pro-Environmental Values in B2B Green Buying Decisions: Evidence from a Conjoint Experiment.” Industrial Marketing Management 105: 240–52. https://doi.org/10.1016/j.indmarman.2022.05.020.Suche in Google Scholar
© 2025 Walter de Gruyter GmbH, Berlin/Boston
Artikel in diesem Heft
- Frontmatter
- Competitive Research Articles
- Learning from New Product Development Project Failure in High-Tech Firms: The Role of Risk Anticipation and the Underlying Mechanisms
- The Garage in Entrepreneurship and Innovation: Four Archetypes
- The In(congruent) Effects of AI Ambidexterity in Digital Entrepreneurship: Insights from the Entrepreneurial Event Model
- Impact of Leadership Styles on Organizational Agility Within the Technology Industry: Case of the UK
- Dynamic Managerial Capabilities and International New Venture Performance: A Multilevel Study of Cultural Perspective
- Which Diversity Matters? Contextualizing the Impact of Cultural Diversity and Inequality on Entrepreneurial Intentions
Artikel in diesem Heft
- Frontmatter
- Competitive Research Articles
- Learning from New Product Development Project Failure in High-Tech Firms: The Role of Risk Anticipation and the Underlying Mechanisms
- The Garage in Entrepreneurship and Innovation: Four Archetypes
- The In(congruent) Effects of AI Ambidexterity in Digital Entrepreneurship: Insights from the Entrepreneurial Event Model
- Impact of Leadership Styles on Organizational Agility Within the Technology Industry: Case of the UK
- Dynamic Managerial Capabilities and International New Venture Performance: A Multilevel Study of Cultural Perspective
- Which Diversity Matters? Contextualizing the Impact of Cultural Diversity and Inequality on Entrepreneurial Intentions