Entrepreneurial Actions and the Market Process: A Multi-Stage Communication Perspective

Abstract

This paper draws on public opinion literature to understand how the market process evolves as firms engage in entrepreneurial actions and also how entrepreneurial actions are in turn “constituted” as part of the market. I draw mainly on concepts from management strategy, mass communication theories and social movement to conceptualize this complex set of processes. This paper proposes a stage model of entrepreneurial actions and the market process. Specifically, the model posits that the market evolves through four key stages when firms introduce entrepreneurial actions into the market. These stages are Awareness, Elaboration, Understanding and Attitude Crystallization.

Keywords: Entrepreneurial actions, market process, Institutional entreprenuership