Pasco Hernando State College Advantages and Disadvantages of an Experimentation Essay

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Business Finance

Pasco Hernando State College

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This week, you are to discuss the advantages and disadvantages of experimentation as related to entrepreneurship. Please conduct a search of peer-reviewed sources on different types (at least two) of experiments used to reach entrepreneurial activities as well as statistics reflecting the successes or failures of chosen types. What methods/design are commonly listed? What type of technology-enhanced approaches were used?

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Running head: ENTREPRENEURIAL EXPERIMENTATION

Entrepreneurial Experimentation
Student’s Name
Institutional Affiliation

1

ENTREPRENEURIAL EXPERIMENTATION

2

Entrepreneurial Experimentation
Entrepreneurs have become more embracing for the use of experimentation as a tool for
research and development while exploring new opportunities and introducing new products.
Since 1990, a significant share of the successful entrepreneurs has been reported to use
technology-oriented surveys and interviews as experimentation methods for market research
(Kraus, Meier and Niemand, 2016). However, the use of technology-oriented methods such as
laboratory research, field experiments and case studies have risen since. The incorporation of
technology on the experimentation methods involves the use of computer assisted techniques
such as computerized interviews to gather enterprise relevant information.
One of the advantages of using experimentation is that it enables the entrepreneur to try
the effectiveness of new strategies and apply entrepreneurial theories. According to Williams et
al. (2019) experimentation p...


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