Modelling Owner Experience: Linking Theory and Practice‪.‬

Owner experience is central to firm growth and performance (Boyatzis, 1982; Chandler and Jansen, 1992; Chandler and Hanks, 1994; Leitch, 1995; Freel, 1998, 1999; Aliouat et al., 1999; Baldwin, 1997; Lefebvre and Lefebvre, 2000; Julien and Ramangalahy, 2003; Van Gils and Zwart, 2004). However, researchers have noted that the literature is fragmented, reflecting little consensus about the definition, construction and appropriate methodologies to examine experience (Reuber and Fischer, 1995; Smith and Morse, 2005). Terms such as skills, abilities, expertise and competencies are used interchangeably, and "it is not clear, whether experience should be an element (indicator) of entrepreneurial competency, an antecedent of competency or an outcome (consequence) of competency" (Smith and Morse, 2005: 10). Researchers also note a wide variety of measures and little consistency in how studies operationalize experience constructs (Fischer and Reuber, 1999: 30). The objective of this study is to develop and test an instrument for measuring aspects of experience. The paper seeks to build on the conceptual framework advanced by Reuber and Fischer (1999), who describe experience as reflective of stocks and streams of experience. Briefly, stocks of experience are "antecedents of present and future states" and are associated linearly with expertise and dominant logic (1999: 31). Streams of experience reflect the learning process and are continuous. This research focuses on the definition and measurement of experiential stock. Reuber and Fischers' conceptual model also suggests that experience is linked to cognitive decision-making. The paper therefore explores the association between stocks of experience, the conscious decision to pursue (or not) a growth strategy, and stage of firm development.