@inbook{7f1e1bdf0312433a8211fcd447b42684,
title = "Making Lemonade out of Lemons: The Role of Information Processing and Strategy in Managing {"}Misperceived{"} Start-Ups",
abstract = "The entrepreneurs' ability to identify opportunities can lead to wealth creation and competitive advantage. Often, however, opportunities that are innovative may defy up-front analysis suggesting that the entrepreneurs may have had somewhat inaccurate perceptions and need to refine their ideas after the ventures are started. This paper therefore focuses on mitigating the negative impact of early misperceptions through the use of learning-oriented information processing systems to refine opportunities post starting a venture. Specifically, it suggests that an experienced and heterogeneous top management team and a decentralized, organic structure enhance the system's ability to gain knowledge from acting on early misperceptions and may even form the basis for a distinctive capability that leads to competitive advantage.",
author = "Mark Simon and Houghton, {Susan M.} and Lumpkin, {G. T.}",
year = "2007",
doi = "10.1016/S1074-7540(07)10006-4",
language = "English (US)",
isbn = "076231429X",
series = "Advances in Entrepreneurship, Firm Emergence and Growth",
pages = "131--157",
editor = "G.T. Lumpkin and Jerome Katz",
booktitle = "Entrepreneurial Strategic Processes",
}