The Theory-Based View: Entrepreneurial Microfoundations, Resources, and Choices

40 Pages Posted: 6 Oct 2021 Last revised: 8 May 2023

See all articles by Robert Wuebker

Robert Wuebker

University of Utah - David Eccles School of Business

Todd Zenger

University of Utah

Teppo Felin

University of Oxford - Said Business School; Utah State University - Huntsman School of Business

Abstract

We build on the theory-based view and highlight how an entrepreneur’s theory can enable the creation of value. We point to three types of theories: theories of resource arbitrage, resource recombination, or resource investment that specializes resources to particular uses. However, possessing a unique theory is not enough. The realization of an entrepreneur’s theory is contingent on matching it with the right organizational and governance-related choices. Entrepreneurs must make consequential decisions about protecting intellectual property, running experiments, acquiring resources, composing teams, and securing financing. We develop a contingent approach that enables entrepreneurs to match their theory of value with the appropriate forms of action, thereby providing entrepreneurs with a level of guidance to downstream choices that the current literature fails to provide.

Keywords: Entrepreneurship, theory-based view, entrepreneur as scientist, theory of the firm, resource origins, experiments, new venture teams, entrepreneurial finance

Suggested Citation

Wuebker, Robert and Zenger, Todd R. and Felin, Teppo, The Theory-Based View: Entrepreneurial Microfoundations, Resources, and Choices. Available at SSRN: https://ssrn.com/abstract=3917981 or http://dx.doi.org/10.2139/ssrn.3917981

Robert Wuebker (Contact Author)

University of Utah - David Eccles School of Business ( email )

1645 East Campus Circle Drive
Salt Lake City, UT 84112-9304
United States

Todd R. Zenger

University of Utah ( email )

David Eccles School of Business
1655 East Campus Center Drive
Salt Lake City, UT 84112
United States
801 585-3981 (Phone)
801 581-7939 (Fax)

Teppo Felin

University of Oxford - Said Business School ( email )

Park End Street
Oxford, OX1 1HP
Great Britain

HOME PAGE: http://sites.google.com/site/teppofelin2/

Utah State University - Huntsman School of Business ( email )

3500 Old Main Hill
Logan, UT 84322-3500
United States

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