Zeya Wang

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Area: Operations Management

Committee Members: Dr. Morvarid Rahmani (Co-Chair), Dr. Karthik Ramachandran (Co-Chair), Dr. Cheryl Gaimon

Dissertation title: The Pursuit of Entrepreneurship: Operational Models

Essay 1: Advising Entrepreneurs: Optimal Recommendation of Alternatives

Abstract: Facing emergent business challenges, entrepreneurs often seek guidance from experienced advisors. When there are multiple alternatives that could potentially solve the entrepreneur’s problem, advisors can lead the entrepreneur’s exploration by choosing which alternative(s) to suggest and in what sequence. We develop a dynamic game-theoretic model that captures the sequential interaction between an advisor and an entrepreneur. Our analysis reveals that it is generally optimal for the advisor to recommend alternatives sequentially. Following a failed trial, the advisor should readily offer a new alternative if the entrepreneur’s capability is either very high or very low. Otherwise, the advisor should encourage the entrepreneur to try the same solution multiple times. Our analysis also reveals that the advisor might find it optimal to present alternative solutions simultaneously and early in the horizon.

Essay 2: Hybrid Entrepreneurship: An Operational Analysis

Abstract: Hybrid entrepreneurship involves individuals concurrently pursuing traditional employment and entrepreneurial activities. This study investigates the ongoing debate between fully committed entrepreneurship and the hybrid approach. Through a model-based investigation, we analyze the trade-offs associated with these two approaches and identify the conditions that favor the hybrid approach, as well as situations where a full commitment is optimal. Furthermore, we derive the optimal allocation of effort for entrepreneurs who choose the hybrid approach. Additionally, we examine how various factors, including the entrepreneur's capabilities, coaching environment, potential competition, and other relevant aspects, can impact the chosen strategy.

Essay 3: Operational Analysis of Minimum Viable Products

Abstract: The Minimum Viable Product (MVP) is a crucial concept in product development, aiming to validate product ideas early in the development cycle by creating a product with the minimum set of features. This study explores how startups should determine the level of specification and features to include in the MVP. While including more specific features can be advantageous for gathering feedback and validating idea, it can also limit the potential for pivoting and pose challenges for entrepreneurs with limited resources. The MVP should find a balance between staying agile and retaining the ability to pivot, while also collecting in-depth feedback to validate the idea. We aim to explore this trade-off.

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Zeya Wang

PhD Candidate in Operations Management

Georgia Institute of Technology 

Scheller College of Business