Symbolic Management in Entrepreneurship:

Exploring the Impact of ‘Symbols’ on Igniting Venture Growth

Abstract

This is a conceptual study that suggests the importance of “entrepreneurial symbolic management” in enhancing the business growth potential of ventures. Symbolic management is a means of effectively communicating the significance of a venture’s new business in a complex market environment by increasing its identifiability, while inducing stakeholders to associate symbols with their own meanings while appealing to their imagination. To date, studies have pointed out the importance of symbolic management, but there is little evidence that it is an effective strategy for venture business growth. In addition, the concept of symbolic management is complicated by similar arguments that exist in proximity, such as the identity argument and the brand argument, and researchers have not reached a consensus on a unified view of the concept. This study conceptually suggests that ventures can survive the fierce market environment and raise their own viability by appropriately practicing symbolic management.