Turning Lead into Gold: How do Entrepreneurs Mobilize Resources to Exploit Opportunities?

Abstract

The mobilization of resources is a central and defining feature of entrepreneurship. As the body of empirical research on entrepreneurial resource mobilization has grown, the literature has become increasingly fragmented. We review the literature on entrepreneurs’ mobilization of resources, spanning human, social, financial, and other forms of capital. We identify five critical issues that hold back progress in resource mobilization research. We then propose a path ahead for future research guided by two overarching goals. First, we advocate for a process perspective, focusing attention on how an individual actor’s disposition and situation shape her responses, how these responses interact with those of other actors, and how these individual and collective responses unfold over time to generate outcomes. Second, we call for stronger unification of theory within the entrepreneurial resource mobilization literature as well as across contiguous conversations in strategy and organization theory. Theoretical consilience will enable the accumulation of empirical research into a cohesive body of knowledge on entrepreneurial resource mobilization.

Keywords: Entrepreneurship, Resources, Resource mobilization, New Ventures, Start-ups, Process perspective, Consilience