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Resources, Capabilities and Entrepreneurial Perceptions

Author

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  • Yasemin Y. Kor
  • Joseph T. Mahoney
  • Steven C. Michael

Abstract

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.

Suggested Citation

  • Yasemin Y. Kor & Joseph T. Mahoney & Steven C. Michael, 2007. "Resources, Capabilities and Entrepreneurial Perceptions," Journal of Management Studies, Wiley Blackwell, vol. 44(7), pages 1187-1212, November.
    • Handle: RePEc:bla:jomstd:v:44:y:2007:i:7:p:1187-1212
    DOI: 10.1111/j.1467-6486.2007.00727.x
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    References listed on IDEAS

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    1. Vaughn,Karen I., 1994. "Austrian Economics in America," Cambridge Books, Cambridge University Press, number 9780521445528.
    2. David B. Audretsch, 1995. "Innovation and Industry Evolution," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262011468, December.
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