An Entrepreneurial Context for the Theory of the Firm: Exploring Assumptions and Consequences

Osorio, Arturo E.; Ozkazanc-Pan, Banu; and Donnelly, Paul F. (2015) "An Entrepreneurial Context for the Theory of the Firm: Exploring Assumptions and Consequences," New England Journal of Entrepreneurship: Vol. 18: No. 1, Article 6

16 Pages Posted: 31 May 2016

See all articles by Arturo E. Osorio

Arturo E. Osorio

Rutgers, The State University of New Jersey - Rutgers University, Newark

Banu Ozkazanc-Pan

University of Massachusetts Boston

Paul F Donnelly

Dublin Institute of Technology

Date Written: 2015

Abstract

While entrepreneurship may be driven by personal interests and lifestyle choices, entrepreneurial actions are not only economically driven opportunity-searching processes but also enactments of social transformation that may or may not lead to socioeconomic benefits. We advance that exploring these entrepreneurial processes can inform a theory of the firm that may explain how socioeconomic processes shape the socioeconomic environment of communities while serving individuals. This article discusses several understandings of the firm, as theorized in extant literature. Guided by these different conceptualizations, we present a case study of an artist and artisan cluster in Western Massachusetts to demonstrate various understandings of entrepreneurial processes. By way of conclusion, we develop the idea of the firm as a geographically embedded relational understanding aiding entrepreneurs to achieve personal goals while coconstructing their local environment.

Suggested Citation

Osorio, Arturo E. and Ozkazanc-Pan, Banu and Donnelly, Paul F, An Entrepreneurial Context for the Theory of the Firm: Exploring Assumptions and Consequences (2015). Osorio, Arturo E.; Ozkazanc-Pan, Banu; and Donnelly, Paul F. (2015) "An Entrepreneurial Context for the Theory of the Firm: Exploring Assumptions and Consequences," New England Journal of Entrepreneurship: Vol. 18: No. 1, Article 6, Available at SSRN: https://ssrn.com/abstract=2786645

Arturo E. Osorio (Contact Author)

Rutgers, The State University of New Jersey - Rutgers University, Newark ( email )

180 University Avenue
Newark, NJ 07102
United States

Banu Ozkazanc-Pan

University of Massachusetts Boston ( email )

100 William T Morrissey Blvd
Boston, MA 02125
United States
617-287-7754 (Phone)

HOME PAGE: http://https://www.umb.edu/academics/cm/faculty_staff/faculty/banu_oezkazanc_pan

Paul F Donnelly

Dublin Institute of Technology ( email )

College of Business
Aungier Street (3-062)
Dublin 2
Ireland

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