Skip to main content
Log in

Humility and reverence: mitigating the dark side of entrepreneurship education

  • Original Paper
  • Published:
Entrepreneurship Education Aims and scope Submit manuscript

Abstract

Risk taking and innovation are key features of entrepreneurship. Entrepreneurship ecosystems foster and reward these features but do not moderate them. Research has shown that, in addition to the benefits of entrepreneurship, there is also a dark side of entrepreneurship that has negative social, psychological, and financial implications. This paper argues that when the virtues of humility and reverence are absent within an ecosystem, risk taking and innovation can turn destructive. The paper pairs risk taking with humility and innovation with reverence to show why virtue is important for a well-functioning ecosystem. Entrepreneurship education programs have a role and responsibility to mitigate the dark side of entrepreneurship and can do so through minor revisions in course structure which this paper outlines. Universities are uniquely positioned to cultivate these moderating virtues that help foster collaborative and productive ecosystems.

This is a preview of subscription content, log in via an institution to check access.

Access this article

Price excludes VAT (USA)
Tax calculation will be finalised during checkout.

Instant access to the full article PDF.

Similar content being viewed by others

References

  • Argandona, A. (2015). Humility in management. Journal of Business Ethics, 132(1), 63–71.

    Article  Google Scholar 

  • Aristotle. (1925). Nicomachean ethics. Oxford University Press. D. Ross (trans.).

    Google Scholar 

  • Armstrong, P. (2005). Critique of entrepreneurship: People and policy. Palgrave Macmillan.

    Book  Google Scholar 

  • Audretsch, D. B., & Keilbach, M. (2004). Entrepreneurship capital and economic performance. Regional Studies, 38(8), 949–959.

    Article  Google Scholar 

  • Badaracco, J. L. (2006). Questions of character: Illuminating the heart of leadership through literature. Harvard Business Review Press.

  • Baker, J. R., & Bilbro, J. (2020). Wendell Berry and Higher Education: Cultivating Virtues of Place. University Press of Kentucky.

    Google Scholar 

  • Bandera, C., Santos, S. C., & Liguori, E. W. (2021). The dark side of entrepreneurship education: A delphi study on dangers and unintended consequences. Entrepreneurship Education and Pedagogy, 4(4), 609–636.

    Article  Google Scholar 

  • Bandura, A. (1977). Social learning theory. Prentice-Hall.

    Google Scholar 

  • Baumol, W. J. (1990). Entrepreneurship: Productive, unproductive, and destructive. Journal of Political Economy, 98(5), 893–921.

    Article  Google Scholar 

  • Baumol, W. J. (2004). On entrepreneurship, growth and rent-seeking: Henry George updated. The American Economist, 48(1), 9–16.

    Article  Google Scholar 

  • Biriotti, M. (2013). What can literature teach us about doing business better? The Guardian. https://www.theguardian.com/sustainable-business/blog/what-can-literature-teach-about-business. Accessed 14 May 2021.

  • Brokerhof, I. M., Sucher, S. J., Matthjis Bal, P., Hakemulder, F., Jansen, F. G. W., & Solinger, O. N. (2023). Develop moral muscle in a literature-based business ethics course. Academy of Management Learning & Education, 22(1), 63–87.

    Article  Google Scholar 

  • Button, M. (2005). ‘A monkish kind of virtue’? For and against humility. Political Theory, 33(6), 840–868.

    Article  Google Scholar 

  • Byrne, O., & Shepherd, D. (2015). Different strokes for different folks: Entrepreneurial narrative of emotion, cognition, and making sense of business failure. Entrepreneurship Theory and Practice, 39(2), 375–405.

    Article  Google Scholar 

  • Carmichael, S. G. (2014). Read fiction with your coworkers. Harvard Business Review, September 26.

  • Casson, M. (2003). The entrepreneur: An economic theory (2nd ed., p. 2003). Edward Elgar Publishing.

    Book  Google Scholar 

  • Demirtas, O., & Asuman Akdogan, A. (2015). The effect of ethical leadership behavior on ethical climate, turnover intention, and affective commitment. Journal of Business Ethics, 130(1), 59–67.

    Article  Google Scholar 

  • Dispenza, J. (2007). Evolve your brain: the science of changing your mind. Health Communications Books.

  • Evans, A. (2017). The myth gap: What happens when evidence and arguments aren’t enough? Forward by Tim Smit. Penguin Random House.

  • Feld, B. (2020). Startup communities: Building an entrepreneurial ecosystem in your city (2nd ed.). Wiley.

    Google Scholar 

  • Frostenson, M. (2016). Humility in business: A contextual approach. Journal of Business Ethics, 138(1), 91–102.

    Article  Google Scholar 

  • Hayward, M. L. A., Shepherd, D. A., & Griffin, D. (2006). A hubris theory of entrepreneurship. Management Science, 52(2), 160–172.

    Article  Google Scholar 

  • Hietala, P., Kaplan, S. N., & Robinson, D. T. (2003). What is the price of hubris? using takeover battles to infer overpayments and synergies. Financial Management, 32(3), 5–31.

    Article  Google Scholar 

  • Hmieleski, K. M., & Baron, R. A. (2009). Entrepreneurs’ optimism and new venture performance: A social cognitive perspective. The Academy of Management Journal, 52(3), 473–488.

    Google Scholar 

  • Hmieleski, K. M., & Lerner, D. A. (2016). The dark triad and nascent entrepreneurship: An examination of unproductive versus productive entrepreneurial motives. Journal of Small Business Management, 54(1), 7–32.

    Article  Google Scholar 

  • Huggins, R., & Thompson, P. (2015). Entrepreneurship, innovation and regional growth: A network theory. Small Business Economics, 45, 103–128.

    Article  Google Scholar 

  • Hughes, R. (2022). Regulatory entrepreneurship, fair competition, and obeying the law. Journal of Business Ethics, 181(1), 249–261.

    Article  Google Scholar 

  • Hvide, H. K., & Panos, G. A. (2013). Risk tolerance and entrepreneurship. Journal of Financial Economics, 111, 200–223.

    Article  Google Scholar 

  • Ingvar, D. H. (1985). Memory of the future: An essay on the temporal organization of conscious awareness. Human Neurobiology, 4(1), 127–136.

    Google Scholar 

  • Jenkins, A. S., Wiklund, J., & Brundin, E. (2014). Individual responses to firm failure: Appraisals, grief, and the influence of prior failure experience. Journal of Business Venturing, 29, 17–33.

    Article  Google Scholar 

  • Kan, K., & Tsai, W.-D. (2006). Entrepreneurship and risk aversion. Small Business Economics, 26(5), 465–474.

    Article  Google Scholar 

  • Kets de Vries, M. (1985). The dark side of entrepreneurship. Harvard Business Review, 62, 160–167.

    Google Scholar 

  • Kets de Vries, M. F. R. (1996). The anatomy of the entrepreneur: Clinical observations. Human Relations, 49, 853–882.

    Article  Google Scholar 

  • Keys, M. M. (2008). Humility and greatness of soul. Perspectives on Political Science, 37(4), 217–222.

    Article  Google Scholar 

  • Kirkwood, J., & Tootell, B. (2008). Is entrepreneurship the answer to achieving work-family balance? Journal of Management Organization, 14, 285–302.

    Article  Google Scholar 

  • Kirzner, I. (2011). Between useful and useless innovation: The entrepreneurial role. In D. Audretsch, O. Falck, S. Heblich, & A. Lederer (Eds.), Handbook of research on innovation and entrepreneurship (pp. 12–16). Edward Elgar Publishing.

    Google Scholar 

  • Koudstaal, M., Sloof, R., & van Praag, M. (2016). Risk, uncertainty, and entrepreneurship: Evidence from a lab-in-the-field experiment. Management Science, 62(10), 2897–2915.

    Article  Google Scholar 

  • LeDoux, J. E. (2000). Emotion circuits in the brain. Annual Review of Neuroscience, 23(3), 155–184.

    Article  Google Scholar 

  • Liu, M. (2023). How to promote students’ entrepreneurial alertness within theoretical and practical entrepreneurship courses: The role challenging learning environment. Entrepreneurship Education, 6, 425–444.

    Article  Google Scholar 

  • Lundmark, E., & Westelius, A. (2019). Antisocial entrepreneurship: Conceptual foundations and a research agenda. Journal of Business Venturing Insights, 11, e00104.

    Article  Google Scholar 

  • MacIntyre, A. (1984). After virtue. University of Notre Dame Press.

    Google Scholar 

  • Magableh, K. N., & Kannan, S. (2023). Early recognition of entrepreneurial traits and intentions: A comparative study on university students in Australia and Japan. Entrepreneurial Education, 6, 99–124.

    Article  Google Scholar 

  • Makadok, R., & Coff, R. (2009). Both market and hierarchy: An incentive-system theory of hybrid governance forms. Academy of Management Review, 34(2), 297–319.

    Article  Google Scholar 

  • McLarty, B. D., Skorodziyevkiy, V., & Muldoon, J. (2023). The dark triad’s incremental influence on entrepreneurial intentions. Journal of Small Business Management, 61(4), 2097–2125.

    Article  Google Scholar 

  • Owens, B. P., & Hekman, D. R. (2012). Modeling how to grow: An inductive examination of humble leader behaviors, contingencies, and outcomes. The Academy of Management Journal, 55(4), 787–818.

    Google Scholar 

  • Owens, B. P., Johnson, M. D., & Mitchell, T. R. (2013). Expressed humility in organizations: Implications for performance, teams, and leadership. Organization Science, 24(5), 1517–1538.

    Article  Google Scholar 

  • Reynolds, P. D., Bygrave, W. D., Autio, E., Cox, L. W., & Hay, M. (2002). Global entrepreneurship monitor: 2002 executive report. Ewing Marion Kauffman Foundation.

    Google Scholar 

  • Rose, F. (2021). The sea we swim in: How stories work in a data-driven world. WW Norton and Company.

  • Sahut, J.-M., & Peris-Ortiz, M. (2014). Small business, innovation, and entrepreneurship. Small Business Economics, 42(4), 663–668.

    Article  Google Scholar 

  • Saxenian, AnnaLee. (1996). Regional advantage: Culture and competition in Silicon Valley and Routh 128. Harvard University Press.

    Book  Google Scholar 

  • Schumpeter, J. (1934). The theory of economic development. Harvard University Press.

    Google Scholar 

  • Schwartz, J. M., Stapp, H. P., & Beuregard, M. (2005). Quantum physics in neuroscience and psychology: A neurophysical model of mind-brain interaction. Biological Sciences, 360, 1309–1327.

    Article  Google Scholar 

  • Semivolos, A., & Raimi, L. (2023). Does university business incubator influence the individual entrepreneurial orientation of students? Evidence from entrepreneurship village, Brunei Darussalam. Entrepreneurship Education, 5, 319–342.

    Article  Google Scholar 

  • Shepherd, D. (2019). Researching the dark side, downside, and destructive side of entrepreneurial action: It’s the compassionate thing to do. Academy of Management Discoveries, 5(3), 217–220.

    Article  Google Scholar 

  • Shepherd, D., & Haynie, J. M. (2009). Birds of a feather don’t always flock together: Identity management in entrepreneurship. Journal of Business Venturing, 24, 316–337.

    Article  Google Scholar 

  • Sousa, M., & van Dierendonck, D. (2017). Servant leadership and the effect of theinteraction between humility, action, and hierarchical power on follower engagement. Journal of Business Ethics, 141(1), 13–25.

    Article  Google Scholar 

  • Spigel, B. (2017). The relational organization of entrepreneurial ecosystems. Entrepreneurship Theory and Practice, 41, 49–72.

    Article  Google Scholar 

  • Spivack, A. J., & McKelvie, A. (2018). Entrepreneurship addiction: Shedding light on the Manifestation of the ‘Dark Side’ in work-behavior patterns. Academy Management Organization, 17, 358–378.

    Google Scholar 

  • Ufuk, H., & Ozgen, O. (2001). The profile of women entrepreneurs: A sample from Turkey. International Journal of Consumer Studies, 25, 299–308.

    Article  Google Scholar 

  • Woodruff, P. (2014). Reverence: Renewing a forgotten virtue. Oxford University Press.

    Google Scholar 

  • Wright, M., & Zahra, S. (2011). The other side of paradise: Examining the dark side of entrepreneurship. Entrepreneurship Research Journal, 1, 3.

    Article  Google Scholar 

  • Ziemianski, P., & Golik, J. (2020). Including the dark side of entrepreneurship in the entrepreneurship education. Entrepreneurship Education, 10(8), 1–26.

    Google Scholar 

Download references

Author information

Authors and Affiliations

Authors

Corresponding author

Correspondence to Kyle Scott.

Ethics declarations

Conflict of interest

On behalf of all authors, the corresponding author states that there is no conflict of interest.

Additional information

Publisher's Note

Springer Nature remains neutral with regard to jurisdictional claims in published maps and institutional affiliations.

Rights and permissions

Springer Nature or its licensor (e.g. a society or other partner) holds exclusive rights to this article under a publishing agreement with the author(s) or other rightsholder(s); author self-archiving of the accepted manuscript version of this article is solely governed by the terms of such publishing agreement and applicable law.

Reprints and permissions

About this article

Check for updates. Verify currency and authenticity via CrossMark

Cite this article

Scott, K. Humility and reverence: mitigating the dark side of entrepreneurship education. Entrep Educ 7, 1–19 (2024). https://doi.org/10.1007/s41959-024-00110-z

Download citation

  • Received:

  • Revised:

  • Accepted:

  • Published:

  • Issue Date:

  • DOI: https://doi.org/10.1007/s41959-024-00110-z

Keywords

Navigation