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A Reconsideration of the Theory of Entrepreneurship: A participatory approach

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  • Fikret Adaman
  • Pat Devine

Abstract

The aim of this paper is to further the understanding of the relationship between entrepreneurial success and organisational form. The role of entrepreneurship in the neoclassical, Austrian and competence theory approaches is analysed and five recurring themes are identified: the tacit nature of knowledge relevant for entrepreneurial activity; the presence of tacit knowledge at both the individual and organisational levels; the articulation of tacit knowledge through social processes; the distinction between the entrepreneur and the capitalist; and the motivation for engaging in entrepreneurial activity. Characteristics of the organisational context that emerge as necessary for entrepreneurial success are set out, an organisational framework promoting generalised participation in entrepreneurial activity is outlined and this is then evaluated in comparison with a capitalist system.

Suggested Citation

  • Fikret Adaman & Pat Devine, 2002. "A Reconsideration of the Theory of Entrepreneurship: A participatory approach," Review of Political Economy, Taylor & Francis Journals, vol. 14(3), pages 329-355.
  • Handle: RePEc:taf:revpoe:v:14:y:2002:i:3:p:329-355
    DOI: 10.1080/09538250220147877
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    Cited by:

    1. Paul Reynolds & Niels Bosma & Erkko Autio & Steve Hunt & Natalie De Bono & Isabel Servais & Paloma Lopez-Garcia & Nancy Chin, 2005. "Global Entrepreneurship Monitor: Data Collection Design and Implementation 1998–2003," Small Business Economics, Springer, vol. 24(3), pages 205-231, February.
    2. Yahya Madra & Fikret Adaman, 2013. "Neoliberal reason and its forms:Depoliticization through economization," Working Papers 2013/07, Bogazici University, Department of Economics.
    3. Lucio Cassia & Alessandra Colombelli, 2006. "Entrepreneurship As Regional Development Catalyst," ERSA conference papers ersa06p627, European Regional Science Association.
    4. Reyes Calderón, 2004. "Fron Neo-classical Entrepreneur to Socio-economic Organization," Faculty Working Papers 01/04, School of Economics and Business Administration, University of Navarra.

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