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An Entrepreneurial Context for the Theory of the Firm: Exploring Assumptions and Consequences
Osorio, Arturo E.; Donnelly, Paul; Ozkazanc-Pan, Banu
While entrepreneurship may be driven by personal interests and lifestyle choices, entrepreneurial actions are not only economically driven opportunity-searching processes but also enactments of social transformation that may or may not lead to socioeconomic benefits. We advance that exploring these entrepreneurial processes can inform a theory of the firm that may explain how socioeconomic processes shape the socioeconomic environment of communities while serving individuals. This article discusses several understandings of the firm, as theorized in extant literature. Guided by these different conceptualizations, we present a case study of an artist and artisan cluster in Western Massachusetts to demonstrate various understandings of entrepreneurial processes. By way of conclusion, we develop the idea of the firm as a geographically embedded relational understanding aiding entrepreneurs to achieve personal goals while co-constructing their local environment.
Keyword(s): clusters; economic development; entrepreneurship theory; sustainability; theory of the firm; Entrepreneurial and Small Business Operations
Publication Date:
Type: Journal article
Peer-Reviewed: Unknown
Institution: Dublin Institute of Technology
Citation(s): Articles
Publisher(s): Dublin Institute of Technology
File Format(s): application/pdf
First Indexed: 2016-05-31 05:35:06 Last Updated: 2018-01-20 06:37:00