Book Review: 'Organizing Entrepreneurial Judgment: A New Approach to the Firm,' by Nicolai J. Foss and Peter G. Klein. Cambridge University Press (2012).
Organization Studies, Vol. 34, No. 7, pp. 1007-1011.
3 Pages Posted: 19 Sep 2014
Date Written: 2013
One of the primary objectives of this book is to explore how the theory of the entrepreneur can be integrated with the theory of the firm. The fundamental influence behind the authors’ approach is the theory of the entrepreneur developed by Frank Knight, who emphasized judgment as the key component of entrepreneurship. This theory views entrepreneurship as a particular type of action, specifically, the exercise of judgment regarding the use of resources under conditions of uncertainty.
Keywords: Entrepreneurship, judgment, theory of the firm, Austrian economics, history of economic thought, Frank Knight, Ludwig von Mises
JEL Classification: B25, B53, D21, D23, L19, L26
Suggested Citation: Suggested Citation