Foss, Nicolai J. (Center for Strategic Management and Globalization, Copenhagen Business School) Klein, Peter G. (Contracting and Organizations Research Institute, U of Missouri) Kor, Yasemin Y. (U of Delaware) Mahoney, Joseph T. (U of Illinois at Urbana-Champaign)
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This paper maintains that the consistent application of subjectivism helps to reconcile contemporary entrepreneurship theory with strategic management research in general, and the resource-based view in particular. The paper synthesizes theoretical insights from Austrian economics and Penrose's (1959) resources approach, arguing that entrepreneurship is inherently subjective and firm specific. This new synthesis describes how entrepreneurship is manifested in teams, and is driven by both heterogeneity of managerial mental models and shared team experiences.
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Paper provided by University of Illinois at Urbana-Champaign, College of Business in its series Working Papers with number
06-0121.
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Jerker Denrell & Christina Fang & Sidney Winter, 2003.
"The Economics of Strategic Opportunity,"
LEM Papers Series
2003/10, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
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