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Entrepreneurship and the firm: a conversation on foundations and prospects

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  • Nicolai J Foss
  • Anna Grandori

Abstract

Entrepreneurship has emerged as a major research theme across a number of disciplines and fields, including the industrial dynamics tradition. Entrepreneurship is often seen as closely linked to firms and firm formation. However, the links between economic organization and entrepreneurship are unclear. Do entrepreneurs always need firms to realize their plans? If so, why? Can firms be “entrepreneurial”? If so, what is the difference between an entrepreneurial and a non-entrepreneurial firm? More broadly, how can entrepreneurship be informed by the theory of the firm and vice versa? These foundational issues in both the theory of the firm and the field of entrepreneurship have not been resolved. This dialogue between two scholars who have worked at the intersection of entrepreneurship and the theory of the firm for more than 20 years addresses such key questions as: What is the meaning of “uncertainty” and what is its role? What are the features and roles of resources? How are resources linked to property rights and the firm? On what basis can we say that firms differ in the extent to which they are “entrepreneurial”?

Suggested Citation

  • Nicolai J Foss & Anna Grandori, 2020. "Entrepreneurship and the firm: a conversation on foundations and prospects," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 29(3), pages 581-598.
  • Handle: RePEc:oup:indcch:v:29:y:2020:i:3:p:581-598.
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    File URL: http://hdl.handle.net/10.1093/icc/dtaa007
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    Cited by:

    1. Bob Bastian & Antonella Zucchella, 2022. "Entrepreneurial metacognition: a study on nascent entrepreneurs," International Entrepreneurship and Management Journal, Springer, vol. 18(4), pages 1775-1805, December.

    More about this item

    JEL classification:

    • D8 - Microeconomics - - Information, Knowledge, and Uncertainty
    • D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
    • D23 - Microeconomics - - Production and Organizations - - - Organizational Behavior; Transaction Costs; Property Rights
    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship

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