Entrepreneurship, Subjectivism, and the Resource-Based View: Towards a New Synthesis
Yasemin Y. Kor
University of South Carolina
Nicolai J. Foss
Copenhagen Business School - Department of Strategic Management and Globalization
Peter G. Klein
University of Missouri, Division of Applied Social Sciences; Norwegian School of Economics and Business Administration; Ludwig von Mises Institute
Joseph T. Mahoney
University of Illinois
SMG Working Paper No. 18/2006
This paper maintains that the consistent application of subjectivism helps to reconcile contemporary entrepreneurship theory with strategic management research in general, and the resource-based view in particular. The paper synthesizes theoretical insights from Austrian economics and Penrose's (1959) resources approach, arguing that entrepreneurship is inherently subjective and firm specific. This new synthesis describes how entrepreneurship is manifested in teams, and is driven by both heterogeneity of managerial mental models and shared team experiences.
Number of Pages in PDF File: 47working papers series
Date posted: April 24, 2007
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