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Deliberate practice, an iterative process that leads to expertise, is found to be positively associated with superior performance in domains such as sports, education, and entrepreneurship. At the same time, deliberate practice is also seen as being less than enjoyable and difficult to pursue consistently. As such, passion is considered to be a vital motivator of engagement in and maintenance of deliberate practice. Despite the evident importance of passion, the relationship between passion and deliberate practice in entrepreneurship has not been subject to sufficient empirical evaluation. Therefore, in this study, we consider the way in which passion moderates the relationship between deliberate practice and venture performance. We hypothesize that deliberate practice is positively related to venture performance and that passion positively moderates this relationship. We find support for our first hypothesis, in line with previous studies. However, contrary to our second hypothesis, we find that entrepreneurial passion negatively moderates the deliberate practice-venture performance relationship. In response to this finding, we provide possible explanations as to why this negative moderation effect was observed by drawing on Kolb’s experiential learning cycle.
A great deal of attention has been paid to the performance of international joint ventures (IJVs) and trust has been recognised as a keyfactor influencing it. This paper examines the emergence of trust as a process and develops a process model of trust building in IJVs, which isused to analyse four case studies. The main conclusions are the following: Whereas competence-based trust starts from public information,promissory-based trust and goodwill-based trust are individually orientated and mainly develop through direct personal interaction. Suchinteraction may lead to bonds of friendship between delegates. Before these bonds evolve, trust is mainly based on the perceived self-interestof the partner in the joint venture. When the bonds of friendship dominate, the main source of trust shifts towards emotional commitments.Thus, in the early stages of an IJV, promissory-based trust predominates, and as the joint venture progresses, competence-based trust emerges.Goodwill-based trust is important throughout the process. A commitment to cooperate emerges from initial self-interest. The model is capableof further development and testing.
A great deal of research has been undertaken to identify the factors affecting the success, failure, performance and stability of international equity joint ventures (EJVs) (see, for example, Beamish and Killing, 1996 for a review). Most of these studies, however, are static in nature. Although some scholars advocate a more dynamic approach to EJV research (for example, Parkhe, 1993; Stafford, 1995), to date only limited work has been done in this direction (Ring and van de Ven, 1994; Madhok, 1995a; Spekman et al., 1996; Ariño and de la Torre, 1996).