Successful entrepreneurial exit model in knowledge-based and innovative businesses

Subject Areas : Entrepreneurship

Javad Khamseh Ashari ¹ , Bita Yazdani ^{2 *}

1 - Department of Management, Najafabad Branch, Islamic Azad University, Najafabad, Iran.
2 - Department of Managment, Najafabad Branch, Islamic Azad University, Najafabad, Iran.

Received: 2023-04-29 Accepted : 2024-08-18 Published : 2024-02-20

Keywords: Entrepreneurial exit, Business exit, Exit strategy, knowledge-based business, Entrepreneurship,

Abstract :

Entrepreneurial exit is a process by which the owners of private companies exit from the ownership and decision-making structure of their companies. In knowledge-based businesses, where the creation of a business is the result of the ideation and entrepreneurship of one or more people as the creators of that business, the dependence on the entrepreneur is at a higher level, and also due to the possibility of high growth in such businesses, proper planning for the exit of the entrepreneur and the adoption of a suitable exit strategy will be more sensitive to achieve the highest output yield. Therefore, after reviewing the literature in this field, by adopting a qualitative approach based on the Grounded Theory method, through interviews with entrepreneurs of knowledge-based companies active in various fields located in the Isfahan Science & Technology Town, it has designed a model for successful entrepreneurial exit in knowledge-based businesses. The final model with a comprehensive look at entrepreneurial exit, considered this issue that, while ensuring the survival and growth of the business after the exit of the entrepreneur, the highest return be provided for the entrepreneur financially as well as mentally and psychologically