Entrepreneurship, Subjectivism, and the Resource-Based View: Towards a New Synthesis

SMG Working Paper No. 18/2006

47 Pages Posted: 24 Apr 2007

See all articles by Yasemin Y. Kor

Yasemin Y. Kor

Cambridge Judge Business School

Nicolai J. Foss

Copenhagen Business School - Department of Strategy and Innovation

Peter G. Klein

Baylor University - Hankamer School of Business; Norwegian School of Economics (NHH) - Department of Strategy and Management; Ludwig von Mises Institute

Joseph T. Mahoney

University of Illinois

Date Written: November 2006

Abstract

This paper maintains that the consistent application of subjectivism helps to reconcile contemporary entrepreneurship theory with strategic management research in general, and the resource-based view in particular. The paper synthesizes theoretical insights from Austrian economics and Penrose's (1959) resources approach, arguing that entrepreneurship is inherently subjective and firm specific. This new synthesis describes how entrepreneurship is manifested in teams, and is driven by both heterogeneity of managerial mental models and shared team experiences.

Suggested Citation

Kor, Yasemin Y. and Foss, Nicolai J. and Klein, Peter G. and Mahoney, Joseph T., Entrepreneurship, Subjectivism, and the Resource-Based View: Towards a New Synthesis (November 2006). Available at SSRN: https://ssrn.com/abstract=982150 or http://dx.doi.org/10.2139/ssrn.982150

Yasemin Y. Kor

Cambridge Judge Business School ( email )

Cambridge, CB2 1 AG
United Kingdom

Nicolai J. Foss (Contact Author)

Copenhagen Business School - Department of Strategy and Innovation ( email )

Kilen
Frederiksberg, 2000
Denmark

Peter G. Klein

Baylor University - Hankamer School of Business ( email )

Waco, TX 76798
United States
254-710-4903 (Phone)

Norwegian School of Economics (NHH) - Department of Strategy and Management ( email )

Breiviksveien 40
N-5045 Bergen
Norway

Ludwig von Mises Institute ( email )

Auburn, AL
United States

Joseph T. Mahoney

University of Illinois ( email )

1206 South Sixth Street
339 Commerce West
Champaign, IL 61820
United States
217-244-7969 (Phone)
217-244-4102 (Fax)

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