Entrepreneurial Strategy

Entrepreneurial Strategy

Author: Dean A. Shepherd

Publisher: Springer Nature

Published: 2021-07-19

Total Pages: 142

ISBN-13: 3030789357

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This open access book focuses on explaining differences amongst organizations regarding various attributes, forms, and outcomes. By focusing on the “how” of new venture creation and management to produce well-established organizations, the authors aim to increase our understanding of the antecedents of most management research assumptions. New ventures are the source of most newly created jobs generated in an economy, new industries and markets, innovative products and services, and new solutions to economic, social, and environmental problems. However, most management research assumes a well-established organization as the starting point of their theorizing. Building on the notion of guided attention, it details how entrepreneurs can allocate their transient attention to identify potential opportunities from environmental change and how entrepreneurs allocate their sustained attention to form beliefs about radical and incremental opportunities requiring entrepreneurial action. The authors explain how entrepreneurs build such communities and engage community members over time to co-construct potential opportunities for new venture progress. Using the lean startup framework, they connect the dots between the theorizing on identifying and co-constructing potential opportunities and the startup of new ventures. This leads to a new overarching framework based on are (1) co-creating a startup, (2) organizing a startup, and (3) performing a startup to bring together the many disparate threads of research on new ventures. The authors then theorize on the importance of knowledge in organizational scaling. Based on cutting-edge research from the leading entrepreneurship journals, this book expands knowledge on the cognitive aspect of the new venture creation process.


Book Synopsis Entrepreneurial Strategy by : Dean A. Shepherd

Download or read book Entrepreneurial Strategy written by Dean A. Shepherd and published by Springer Nature. This book was released on 2021-07-19 with total page 142 pages. Available in PDF, EPUB and Kindle. Book excerpt: This open access book focuses on explaining differences amongst organizations regarding various attributes, forms, and outcomes. By focusing on the “how” of new venture creation and management to produce well-established organizations, the authors aim to increase our understanding of the antecedents of most management research assumptions. New ventures are the source of most newly created jobs generated in an economy, new industries and markets, innovative products and services, and new solutions to economic, social, and environmental problems. However, most management research assumes a well-established organization as the starting point of their theorizing. Building on the notion of guided attention, it details how entrepreneurs can allocate their transient attention to identify potential opportunities from environmental change and how entrepreneurs allocate their sustained attention to form beliefs about radical and incremental opportunities requiring entrepreneurial action. The authors explain how entrepreneurs build such communities and engage community members over time to co-construct potential opportunities for new venture progress. Using the lean startup framework, they connect the dots between the theorizing on identifying and co-constructing potential opportunities and the startup of new ventures. This leads to a new overarching framework based on are (1) co-creating a startup, (2) organizing a startup, and (3) performing a startup to bring together the many disparate threads of research on new ventures. The authors then theorize on the importance of knowledge in organizational scaling. Based on cutting-edge research from the leading entrepreneurship journals, this book expands knowledge on the cognitive aspect of the new venture creation process.

Entrepreneurship Strategy

Entrepreneurship Strategy

Author: Lisa K. Gundry

Publisher: SAGE Publications

Published: 2006-08-14

Total Pages: 425

ISBN-13: 1452262446

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In this engaging and practical book, authors Lisa K. Gundry and Jill R. Kickul uniquely approach entrepreneurship across the life cycle of business growth—offering entrepreneurial strategies for the emerging venture, for the growing venture, and for sustaining growth in the established venture. Written from the point of view of the founder or the entrepreneurial team, the book offers powerful and practical tools to increase a venture's potential for success and growth.


Book Synopsis Entrepreneurship Strategy by : Lisa K. Gundry

Download or read book Entrepreneurship Strategy written by Lisa K. Gundry and published by SAGE Publications. This book was released on 2006-08-14 with total page 425 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this engaging and practical book, authors Lisa K. Gundry and Jill R. Kickul uniquely approach entrepreneurship across the life cycle of business growth—offering entrepreneurial strategies for the emerging venture, for the growing venture, and for sustaining growth in the established venture. Written from the point of view of the founder or the entrepreneurial team, the book offers powerful and practical tools to increase a venture's potential for success and growth.

Reshaping Entrepreneurship Education With Strategy and Innovation

Reshaping Entrepreneurship Education With Strategy and Innovation

Author: Ayandibu, Ayansola Olatunji

Publisher: IGI Global

Published: 2020-10-02

Total Pages: 422

ISBN-13: 1799831736

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New small business owners are constantly pressured to play a major role in the economic growth of their respected nation. However, revitalizing how individuals think, research, teach, and implement performance strategies to improve the operations of these small businesses is critical to entrepreneurial success. Reshaping Entrepreneurship Education With Strategy and Innovation is an essential reference source that discusses strategies to overcome performance barriers as well as implementation of effective entrepreneurial processes based on a wide range of global issues. Featuring research on topics such as authentic leadership, business ethics, and social entrepreneurship, this book is ideally designed for entrepreneurs, business professionals, scholars, researchers, students, and practitioners seeking coverage on innovative performance operations of small businesses.


Book Synopsis Reshaping Entrepreneurship Education With Strategy and Innovation by : Ayandibu, Ayansola Olatunji

Download or read book Reshaping Entrepreneurship Education With Strategy and Innovation written by Ayandibu, Ayansola Olatunji and published by IGI Global. This book was released on 2020-10-02 with total page 422 pages. Available in PDF, EPUB and Kindle. Book excerpt: New small business owners are constantly pressured to play a major role in the economic growth of their respected nation. However, revitalizing how individuals think, research, teach, and implement performance strategies to improve the operations of these small businesses is critical to entrepreneurial success. Reshaping Entrepreneurship Education With Strategy and Innovation is an essential reference source that discusses strategies to overcome performance barriers as well as implementation of effective entrepreneurial processes based on a wide range of global issues. Featuring research on topics such as authentic leadership, business ethics, and social entrepreneurship, this book is ideally designed for entrepreneurs, business professionals, scholars, researchers, students, and practitioners seeking coverage on innovative performance operations of small businesses.

Entrepreneurship and Behavioral Strategy

Entrepreneurship and Behavioral Strategy

Author: T. K. Das

Publisher: IAP

Published: 2020-06-01

Total Pages: 321

ISBN-13: 164802050X

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Behavioral strategy continues to attract increasing research interest within the broader field of strategic management. Research in behavioral strategy has clear scope for development in tandem with such traditional streams of strategy research that involve economics, markets, resources, and technology. The key roles of psychology, organizational behavior, and behavioral decision making in the theory and practice of strategy have yet to be comprehensively grasped. Given that strategic thinking and strategic decision making are importantly concerned with human cognition, human decisions, and human behavior, it makes eminent sense to bring some balance in the strategy field by complementing the extant emphasis on the “objective” economics-based view with substantive attention to the “subjective” individual-oriented perspective. This calls for more focused inquiries into the role and nature of the individual strategy actors, and their cognitions and behaviors, in the strategy research enterprise. For the purposes of this book series, behavioral strategy would be broadly construed as covering all aspects of the role of the strategy maker in the entire strategy field. The scholarship relating to behavioral strategy is widely believed to be dispersed in diverse literatures. These existing contributions that relate to behavioral strategy within the overall field of strategy has been known and perhaps valued by most scholars all along, but were not adequately appreciated or brought together as a coherent sub-field or as a distinct perspective of strategy. This book series on Research in Behavioral Strategy will cover the essential progress made thus far in this admittedly fragmented literature and elaborate upon fruitful streams of scholarship. More importantly, the book series will focus on providing a robust and comprehensive forum for the growing scholarship in behavioral strategy. In particular, the volumes in the series will cover new views of interdisciplinary theoretical frameworks and models (dealing with all behavioral aspects), significant practical problems of strategy formulation, implementation, and evaluation, and emerging areas of inquiry. The series will also include comprehensive empirical studies of selected segments of business, economic, industrial, government, and non-profit activities with potential for wider application of behavioral strategy. Through the ongoing release of focused topical titles, this book series will seek to disseminate theoretical insights and practical management information that will enable interested professionals to gain a rigorous and comprehensive understanding of the subject of behavioral strategy. Entrepreneurship and Behavioral Strategy contains contributions by leading scholars in the field of entrepreneurship with an interest in researching behavioral perspectives. The 10 chapters in this volume deal with a number of significant issues relating broadly to the behavioral aspects of entrepreneurship, covering topics such as entrepreneurial process orientation, a machine learning approach to reviewing the intersection of the entrepreneurship and behavioral strategy literatures, the temporalities of entrepreneurial risk behavior, entrepreneurs under ambiguity, disruptive business model innovations, international attention, entrepreneurial team formation, building alliances in new and small ventures, the role of insight in entrepreneurial action, and the effects of foreign competition on entrepreneurship activities. The chapters include empirical as well as conceptual treatments of the selected topics, and collectively present a wide-ranging review of the noteworthy research perspectives on the confluence of entrepreneurship and behavioral strategy.


Book Synopsis Entrepreneurship and Behavioral Strategy by : T. K. Das

Download or read book Entrepreneurship and Behavioral Strategy written by T. K. Das and published by IAP. This book was released on 2020-06-01 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: Behavioral strategy continues to attract increasing research interest within the broader field of strategic management. Research in behavioral strategy has clear scope for development in tandem with such traditional streams of strategy research that involve economics, markets, resources, and technology. The key roles of psychology, organizational behavior, and behavioral decision making in the theory and practice of strategy have yet to be comprehensively grasped. Given that strategic thinking and strategic decision making are importantly concerned with human cognition, human decisions, and human behavior, it makes eminent sense to bring some balance in the strategy field by complementing the extant emphasis on the “objective” economics-based view with substantive attention to the “subjective” individual-oriented perspective. This calls for more focused inquiries into the role and nature of the individual strategy actors, and their cognitions and behaviors, in the strategy research enterprise. For the purposes of this book series, behavioral strategy would be broadly construed as covering all aspects of the role of the strategy maker in the entire strategy field. The scholarship relating to behavioral strategy is widely believed to be dispersed in diverse literatures. These existing contributions that relate to behavioral strategy within the overall field of strategy has been known and perhaps valued by most scholars all along, but were not adequately appreciated or brought together as a coherent sub-field or as a distinct perspective of strategy. This book series on Research in Behavioral Strategy will cover the essential progress made thus far in this admittedly fragmented literature and elaborate upon fruitful streams of scholarship. More importantly, the book series will focus on providing a robust and comprehensive forum for the growing scholarship in behavioral strategy. In particular, the volumes in the series will cover new views of interdisciplinary theoretical frameworks and models (dealing with all behavioral aspects), significant practical problems of strategy formulation, implementation, and evaluation, and emerging areas of inquiry. The series will also include comprehensive empirical studies of selected segments of business, economic, industrial, government, and non-profit activities with potential for wider application of behavioral strategy. Through the ongoing release of focused topical titles, this book series will seek to disseminate theoretical insights and practical management information that will enable interested professionals to gain a rigorous and comprehensive understanding of the subject of behavioral strategy. Entrepreneurship and Behavioral Strategy contains contributions by leading scholars in the field of entrepreneurship with an interest in researching behavioral perspectives. The 10 chapters in this volume deal with a number of significant issues relating broadly to the behavioral aspects of entrepreneurship, covering topics such as entrepreneurial process orientation, a machine learning approach to reviewing the intersection of the entrepreneurship and behavioral strategy literatures, the temporalities of entrepreneurial risk behavior, entrepreneurs under ambiguity, disruptive business model innovations, international attention, entrepreneurial team formation, building alliances in new and small ventures, the role of insight in entrepreneurial action, and the effects of foreign competition on entrepreneurship activities. The chapters include empirical as well as conceptual treatments of the selected topics, and collectively present a wide-ranging review of the noteworthy research perspectives on the confluence of entrepreneurship and behavioral strategy.

Entrepreneurship Strategy

Entrepreneurship Strategy

Author: Lisa K. Gundry

Publisher: SAGE Publications

Published: 2006-08-14

Total Pages: 424

ISBN-13: 1483316858

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In this engaging and practical book, authors Lisa K. Gundry and Jill R. Kickul uniquely approach entrepreneurship across the life cycle of business growth—offering entrepreneurial strategies for the emerging venture, for the growing venture, and for sustaining growth in the established venture. Written from the point of view of the founder or the entrepreneurial team, the book offers powerful and practical tools to increase a venture's potential for success and growth.


Book Synopsis Entrepreneurship Strategy by : Lisa K. Gundry

Download or read book Entrepreneurship Strategy written by Lisa K. Gundry and published by SAGE Publications. This book was released on 2006-08-14 with total page 424 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this engaging and practical book, authors Lisa K. Gundry and Jill R. Kickul uniquely approach entrepreneurship across the life cycle of business growth—offering entrepreneurial strategies for the emerging venture, for the growing venture, and for sustaining growth in the established venture. Written from the point of view of the founder or the entrepreneurial team, the book offers powerful and practical tools to increase a venture's potential for success and growth.

Mergers & Acquisitions

Mergers & Acquisitions

Author: Michael A. Hitt

Publisher: Oxford University Press

Published: 2001-03-22

Total Pages: 240

ISBN-13: 0199923612

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In 1999, MCI WorldComm and Sprint agreed to merge. Valued at $129 billion, this expected transaction was the largest in history. However, it fell victim to regulators in Europe concerned with the potential monopoly power of the merged firm. This M&A action was merely the latest in a growing trend of "blockbuster" mergers over the past several years. Once a phenomenon seen primarily in the United States, mergers and acquisitions are increasingly being pursued across national boundaries. In short, acquisition strategies are among the most important corporate-level strategies in the new millennium. The need for clear, complete, and up-to-date guide to successful mergers and acquisitions had never been greater. This book more than fills that need. Looking at successful--and unsuccessful--mergers and acquisitions in a number of different industries, Mergers and Acquisitions: A Guide to Creating Value explains how to conduct an acquisition and how to avoid pitfalls that have doomed many such ventures. The authors take the reader step-by-step through the process, starting with the elements of a successful merger, due diligence to ensure that the target firm is sound and fits well with the acquiring firm, and how mergers and acquisitions are financed. They move on to explore how firms find partners/targets for acquisitions that have complementary resources and how to find partners with which integration and synergy can be achieved. Finally, they discuss the potential hazards found in M&A's and how to avoid them, how to conduct successful cross-border acquisitions, and how to ensure that ethical principles aren't breached during the process. Based on 15 years of research, this essential guide goes beyond specific case studies to cover all aspects of these ventures, making it required reading for all managers seeking to build a successful strategy.


Book Synopsis Mergers & Acquisitions by : Michael A. Hitt

Download or read book Mergers & Acquisitions written by Michael A. Hitt and published by Oxford University Press. This book was released on 2001-03-22 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 1999, MCI WorldComm and Sprint agreed to merge. Valued at $129 billion, this expected transaction was the largest in history. However, it fell victim to regulators in Europe concerned with the potential monopoly power of the merged firm. This M&A action was merely the latest in a growing trend of "blockbuster" mergers over the past several years. Once a phenomenon seen primarily in the United States, mergers and acquisitions are increasingly being pursued across national boundaries. In short, acquisition strategies are among the most important corporate-level strategies in the new millennium. The need for clear, complete, and up-to-date guide to successful mergers and acquisitions had never been greater. This book more than fills that need. Looking at successful--and unsuccessful--mergers and acquisitions in a number of different industries, Mergers and Acquisitions: A Guide to Creating Value explains how to conduct an acquisition and how to avoid pitfalls that have doomed many such ventures. The authors take the reader step-by-step through the process, starting with the elements of a successful merger, due diligence to ensure that the target firm is sound and fits well with the acquiring firm, and how mergers and acquisitions are financed. They move on to explore how firms find partners/targets for acquisitions that have complementary resources and how to find partners with which integration and synergy can be achieved. Finally, they discuss the potential hazards found in M&A's and how to avoid them, how to conduct successful cross-border acquisitions, and how to ensure that ethical principles aren't breached during the process. Based on 15 years of research, this essential guide goes beyond specific case studies to cover all aspects of these ventures, making it required reading for all managers seeking to build a successful strategy.

The Strategic Digital Media Entrepreneur

The Strategic Digital Media Entrepreneur

Author: Penelope M. Abernathy

Publisher: John Wiley & Sons

Published: 2018-09-28

Total Pages: 272

ISBN-13: 1119218063

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A goldmine of strategic insights and practical business guidance covering all aspects of media entrepreneurship in the Digital Age The media industry is facing epic upheaval. Revolutionary new technologies compel those in businesses as diverse as broadcasting to book publishing to radically recreate their business models or be left in history’s wake. At the same time, those with the next big idea are eager to acquire the business know-how needed to make it in today’s brave new world of media. Written by a uniquely well-qualified author team, this book addresses the concerns of both audiences. Penelope Muse Abernathy and JoAnn Sciarrino provide timely lessons on everything from media financing to marketing, business strategy to leadership, innovation to business accounting. They use numerous case studies and real-world vignettes to reveal the success secrets of today’s hottest media entrepreneurs, as well as the fatal flaws that leads many promising new ventures down the road to ruin. They begin with a primer on digital entrepreneurship basics, covering how to create a winning digital business model, obtain financing, do business accounting, identify strategic challenges, and more. From there they show you how to: Develop sustainable customer-focused strategies while overcoming the unique leadership challenges of the Digital Age Define your company’s unique value proposition, prioritize investments in key assets, and form strategic partnerships and alliances Understand and prepare to exploit the vast potential inherent in the next generation of digital technologies, including artificial intelligence, virtual reality, and blockchain, among others The two companion websites feature a wealth of supplemental material, including updates, instructional videos, essays by media leaders, as well as PowerPoint presentations and study guides for instructors. Packed with practical insights and guidance on all aspects of the business of media in the Digital Age, The Strategic Digital Media Entrepreneur is a must-have resource for professionals and students alike in advertising, marketing, business strategy, entrepreneurship, finance, social media, and more.


Book Synopsis The Strategic Digital Media Entrepreneur by : Penelope M. Abernathy

Download or read book The Strategic Digital Media Entrepreneur written by Penelope M. Abernathy and published by John Wiley & Sons. This book was released on 2018-09-28 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: A goldmine of strategic insights and practical business guidance covering all aspects of media entrepreneurship in the Digital Age The media industry is facing epic upheaval. Revolutionary new technologies compel those in businesses as diverse as broadcasting to book publishing to radically recreate their business models or be left in history’s wake. At the same time, those with the next big idea are eager to acquire the business know-how needed to make it in today’s brave new world of media. Written by a uniquely well-qualified author team, this book addresses the concerns of both audiences. Penelope Muse Abernathy and JoAnn Sciarrino provide timely lessons on everything from media financing to marketing, business strategy to leadership, innovation to business accounting. They use numerous case studies and real-world vignettes to reveal the success secrets of today’s hottest media entrepreneurs, as well as the fatal flaws that leads many promising new ventures down the road to ruin. They begin with a primer on digital entrepreneurship basics, covering how to create a winning digital business model, obtain financing, do business accounting, identify strategic challenges, and more. From there they show you how to: Develop sustainable customer-focused strategies while overcoming the unique leadership challenges of the Digital Age Define your company’s unique value proposition, prioritize investments in key assets, and form strategic partnerships and alliances Understand and prepare to exploit the vast potential inherent in the next generation of digital technologies, including artificial intelligence, virtual reality, and blockchain, among others The two companion websites feature a wealth of supplemental material, including updates, instructional videos, essays by media leaders, as well as PowerPoint presentations and study guides for instructors. Packed with practical insights and guidance on all aspects of the business of media in the Digital Age, The Strategic Digital Media Entrepreneur is a must-have resource for professionals and students alike in advertising, marketing, business strategy, entrepreneurship, finance, social media, and more.

Handbook of Entrepreneurship Research

Handbook of Entrepreneurship Research

Author: Sharon A. Alvarez

Publisher: Springer Science & Business Media

Published: 2006-03-30

Total Pages: 286

ISBN-13: 0387236228

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early economic thinkers and classic works such as Cantillon (1755), Knight (1921), and Kirzner (1973). The paper opens by explaining how uncertainty and thus entrepreneurship disappeared from microeconomic theory as it became increasingly formalized (and stylized). It then goes on to bring the entrepreneur and entrepreneurial decision-making back into economic theory by focusing on the interrelationships among actors, knowledge, and perceived economic opportunities using a resource-based framework. The third paper in this section (Chapter 4) is by Foss and Klein, "Entrepreneurship and the Economic Theory of the Firm: Any Gains from Trade?" Foss and Klein strongly link theories of the firm to entrepreneurship, arguing a fundamental and intrinsic connection between the two. They, like Mahoney and Michael, explain how entrepreneurship became less important in economic models as the general equilibrium model became dominant. Foss and Klein ask: Does the entrepreneur need a firm? They focus on the judgment of the entrepreneur and suggest that this judgment is exercised through asset ownership and starting a firm. Foss and Klein further argue that it is through this notion of judgment that heterogeneous assets combine to meet future wants.


Book Synopsis Handbook of Entrepreneurship Research by : Sharon A. Alvarez

Download or read book Handbook of Entrepreneurship Research written by Sharon A. Alvarez and published by Springer Science & Business Media. This book was released on 2006-03-30 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt: early economic thinkers and classic works such as Cantillon (1755), Knight (1921), and Kirzner (1973). The paper opens by explaining how uncertainty and thus entrepreneurship disappeared from microeconomic theory as it became increasingly formalized (and stylized). It then goes on to bring the entrepreneur and entrepreneurial decision-making back into economic theory by focusing on the interrelationships among actors, knowledge, and perceived economic opportunities using a resource-based framework. The third paper in this section (Chapter 4) is by Foss and Klein, "Entrepreneurship and the Economic Theory of the Firm: Any Gains from Trade?" Foss and Klein strongly link theories of the firm to entrepreneurship, arguing a fundamental and intrinsic connection between the two. They, like Mahoney and Michael, explain how entrepreneurship became less important in economic models as the general equilibrium model became dominant. Foss and Klein ask: Does the entrepreneur need a firm? They focus on the judgment of the entrepreneur and suggest that this judgment is exercised through asset ownership and starting a firm. Foss and Klein further argue that it is through this notion of judgment that heterogeneous assets combine to meet future wants.

Corporate Entrepreneurship

Corporate Entrepreneurship

Author: Paul Burns

Publisher: Palgrave MacMillan

Published: 2017-11

Total Pages:

ISBN-13: 9781137483669

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This innovative text considers the personal qualities of successful entrepreneurs and the manner in which they do business. It demonstrates how these qualities can be replicated to form an organizational architecture that encourages entrepreneurship at all levels within a company.


Book Synopsis Corporate Entrepreneurship by : Paul Burns

Download or read book Corporate Entrepreneurship written by Paul Burns and published by Palgrave MacMillan. This book was released on 2017-11 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This innovative text considers the personal qualities of successful entrepreneurs and the manner in which they do business. It demonstrates how these qualities can be replicated to form an organizational architecture that encourages entrepreneurship at all levels within a company.

Austrian Perspectives on Entrepreneurship, Strategy, and Organization

Austrian Perspectives on Entrepreneurship, Strategy, and Organization

Author: Nicolai J. Foss

Publisher: Cambridge University Press

Published: 2019-09-30

Total Pages:

ISBN-13: 110877606X

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The 'Austrian' tradition is well-known for its definitive contributions to economics in the twentieth century. However, Austrian economics also offers an exciting research agenda outside the traditional boundaries of economics, especially in the management disciplines. This Element examines how Austrian ideas play a key role in expanding the understanding of fields like entrepreneurship, strategy, and organization. It focuses especially on the vital role that entrepreneurs play in guiding economic progress by shaping firms and their strategic behavior. In doing so, it explains a wide range of contributions that Austrian economics makes to the understanding of key problems in management, while also highlighting many directions for future work in this inspiring tradition.


Book Synopsis Austrian Perspectives on Entrepreneurship, Strategy, and Organization by : Nicolai J. Foss

Download or read book Austrian Perspectives on Entrepreneurship, Strategy, and Organization written by Nicolai J. Foss and published by Cambridge University Press. This book was released on 2019-09-30 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The 'Austrian' tradition is well-known for its definitive contributions to economics in the twentieth century. However, Austrian economics also offers an exciting research agenda outside the traditional boundaries of economics, especially in the management disciplines. This Element examines how Austrian ideas play a key role in expanding the understanding of fields like entrepreneurship, strategy, and organization. It focuses especially on the vital role that entrepreneurs play in guiding economic progress by shaping firms and their strategic behavior. In doing so, it explains a wide range of contributions that Austrian economics makes to the understanding of key problems in management, while also highlighting many directions for future work in this inspiring tradition.