The story and the storyteller: Strategic storytelling that gets human attention for entrepreneurs

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Authors
Srivastava, Smita
Oberoi, Swati
Gupta, Vishal K.
Advisors
Issue Date
2023-02-11
Type
Article
Keywords
Storytelling , Entrepreneurship , Freytag's Pyramid , Resource mobilization , Strategic partnership
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Citation
Srivastava, S., Oberoi, S., & Gupta, V. K. (2023). The story and the storyteller: Strategic storytelling that gets human attention for entrepreneurs. Business Horizons. https://doi.org/https://doi.org/10.1016/j.bushor.2023.02.003
Abstract

As a captivating way to engage, inform, and persuade one's audiences, storytelling can serve as a strategic skill in an entrepreneur's arsenal. Although entrepreneurs often use storytelling to mobilize financial resources from external stakeholders, less attention has been paid to how entrepreneurs can leverage this powerful tool to gain strategic partnerships. As such, there is little practical guidance on utilizing storytelling to gain a competitive advantage. In this article, we use wisdom from the academic and practical world to illuminate the science of storytelling, identify the type of stories that entrepreneurs may narrate (or refrain from telling), and understand the mechanism through which stories engage and persuade external stakeholders. We also highlight Freytag's Dramatic Arc, which can teach entrepreneurs how to frame profound stories that gain attention from external stakeholders. We offer practical guidelines for entrepreneurs interested in learning and harnessing the power of compelling storytelling for strategic partnerships.

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Publisher
Elsevier Inc.
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Series
Business Horizons
2023
PubMed ID
DOI
ISSN
0007-6813
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