Resources, capabilities and entrepreneurial perceptions

Research output: Contribution to journalArticle

Abstract

We review and develop a subjectivist theory of entrepreneurship that focuses on individuals, their knowledge, resources and skills, and the processes of discovery and creativity, which constitute the heart of entrepreneurship. First, we establish the fundamental importance of subjectivity in entrepreneurial discovery and creativity. Second, we build on Penrose (1959) to elaborate how entrepreneurs' perceptions and personal knowledge shape a firm's subjective productive opportunity set. Third, we explain that entrepreneurial perceptions and knowledge partly originate from entrepreneurs' experiences in specific business settings such as the firm, the management team, and the industry. Fourth, we highlight the causal connections between subjectivity in entrepreneurship and observed heterogeneity in firm-level economic performance. Lastly, we suggest directions for further advancing a subjectivist resource-based approach to future entrepreneurship research.

Original languageEnglish (US)
Pages (from-to)1187-1212
Number of pages26
JournalJournal of Management Studies
Volume44
Issue number7
DOIs
StatePublished - Nov 1 2007
Externally publishedYes

Fingerprint

Industry
Economics
Resources and capabilities
Entrepreneurship
Subjectivity
Entrepreneurs
Creativity
Knowledge resources
Resource-based
Economic performance
Team management
Penrose
Opportunity sets
Entrepreneurship research

ASJC Scopus subject areas

  • Business and International Management
  • Strategy and Management
  • Management of Technology and Innovation

Cite this

Resources, capabilities and entrepreneurial perceptions. / Kor, Yasemin Y.; Mahoney, Joseph T.; Michael, Steven C.

In: Journal of Management Studies, Vol. 44, No. 7, 01.11.2007, p. 1187-1212.

Research output: Contribution to journalArticle

@article{e641a79e3a3b4d88b1ea9f4fe295644c,
title = "Resources, capabilities and entrepreneurial perceptions",
abstract = "We review and develop a subjectivist theory of entrepreneurship that focuses on individuals, their knowledge, resources and skills, and the processes of discovery and creativity, which constitute the heart of entrepreneurship. First, we establish the fundamental importance of subjectivity in entrepreneurial discovery and creativity. Second, we build on Penrose (1959) to elaborate how entrepreneurs' perceptions and personal knowledge shape a firm's subjective productive opportunity set. Third, we explain that entrepreneurial perceptions and knowledge partly originate from entrepreneurs' experiences in specific business settings such as the firm, the management team, and the industry. Fourth, we highlight the causal connections between subjectivity in entrepreneurship and observed heterogeneity in firm-level economic performance. Lastly, we suggest directions for further advancing a subjectivist resource-based approach to future entrepreneurship research.",
author = "Kor, {Yasemin Y.} and Mahoney, {Joseph T.} and Michael, {Steven C.}",
year = "2007",
month = "11",
day = "1",
doi = "10.1111/j.1467-6486.2007.00727.x",
language = "English (US)",
volume = "44",
pages = "1187--1212",
journal = "Journal of Management Studies",
issn = "0022-2380",
publisher = "Wiley-Blackwell",
number = "7",

}

TY - JOUR

T1 - Resources, capabilities and entrepreneurial perceptions

AU - Kor, Yasemin Y.

AU - Mahoney, Joseph T.

AU - Michael, Steven C.

PY - 2007/11/1

Y1 - 2007/11/1

N2 - We review and develop a subjectivist theory of entrepreneurship that focuses on individuals, their knowledge, resources and skills, and the processes of discovery and creativity, which constitute the heart of entrepreneurship. First, we establish the fundamental importance of subjectivity in entrepreneurial discovery and creativity. Second, we build on Penrose (1959) to elaborate how entrepreneurs' perceptions and personal knowledge shape a firm's subjective productive opportunity set. Third, we explain that entrepreneurial perceptions and knowledge partly originate from entrepreneurs' experiences in specific business settings such as the firm, the management team, and the industry. Fourth, we highlight the causal connections between subjectivity in entrepreneurship and observed heterogeneity in firm-level economic performance. Lastly, we suggest directions for further advancing a subjectivist resource-based approach to future entrepreneurship research.

AB - We review and develop a subjectivist theory of entrepreneurship that focuses on individuals, their knowledge, resources and skills, and the processes of discovery and creativity, which constitute the heart of entrepreneurship. First, we establish the fundamental importance of subjectivity in entrepreneurial discovery and creativity. Second, we build on Penrose (1959) to elaborate how entrepreneurs' perceptions and personal knowledge shape a firm's subjective productive opportunity set. Third, we explain that entrepreneurial perceptions and knowledge partly originate from entrepreneurs' experiences in specific business settings such as the firm, the management team, and the industry. Fourth, we highlight the causal connections between subjectivity in entrepreneurship and observed heterogeneity in firm-level economic performance. Lastly, we suggest directions for further advancing a subjectivist resource-based approach to future entrepreneurship research.

UR - http://www.scopus.com/inward/record.url?scp=35948980882&partnerID=8YFLogxK

UR - http://www.scopus.com/inward/citedby.url?scp=35948980882&partnerID=8YFLogxK

U2 - 10.1111/j.1467-6486.2007.00727.x

DO - 10.1111/j.1467-6486.2007.00727.x

M3 - Article

AN - SCOPUS:35948980882

VL - 44

SP - 1187

EP - 1212

JO - Journal of Management Studies

JF - Journal of Management Studies

SN - 0022-2380

IS - 7

ER -