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Entrepreneurship, Subjectivism, and the Resource-Based View: Towards a New SynthesisYasemin Y. KorUniversity of South Carolina Nicolai J. FossCopenhagen Business School - Department of Strategic Management and Globalization Peter G. KleinUniversity of Missouri, Division of Applied Social Sciences; Norwegian School of Economics and Business Administration; Ludwig von Mises Institute Joseph T. MahoneyUniversity of Illinois November 2006 SMG Working Paper No. 18/2006 Abstract: 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: 47 working papers seriesDate posted: April 24, 2007Suggested CitationContact Information
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