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The Entrepreneurial Value Creation Theory

In: The Theory of Entrepreneurship

Author

Listed:
  • Chandra S. Mishra

    (Florida Atlantic University)

  • Ramona K. Zachary

    (The City University of New York)

Abstract

The Entrepreneurial Value Creation Theory explains the entrepreneurial value creation and its realization via a venture (see figure 10.1). The entrepreneurial value creation process consists of two iterative stages, the venture formulation (Stage 1) and the venture monetization (Stage 2). In Stage 1, the entrepreneur begins with either the entrepreneurial opportunity or the entrepreneurial intention to found a new venture to realize the entrepreneurial reward. In Stage 1, the entrepreneurial competence is formulated, the process of which is explained by the Theory of Entrepreneurial Competence (see chapter 5). Many ventures fail during Stage 1. If a venture transitions to Stage 2, further investments are required to build dynamic complementary capabilities, which are then embedded in the business model design. If the venture is unable to procure further investments, the venture returns to Stage 1 and the entrepreneurial competence is reformulated, before the venture may return to Stage 2. In Stage 2, the Business Model Theory, within the Entrepreneurial Value Creation Theory, explains the elements of the business model design, the venture value drivers.

Suggested Citation

  • Chandra S. Mishra & Ramona K. Zachary, 2014. "The Entrepreneurial Value Creation Theory," Palgrave Macmillan Books, in: The Theory of Entrepreneurship, chapter 10, pages 253-292, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-37146-1_10
    DOI: 10.1057/9781137371461_10
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    Cited by:

    1. Amare Abawa Esubalew & A. Raghurama, 2021. "The moderating effect of size on the relationship between commercial banks financing and the performance of micro, small, and medium enterprises (MSMEs)," Journal of Global Entrepreneurship Research, Springer;UNESCO Chair in Entrepreneurship, vol. 11(1), pages 1-14, December.
    2. Md. Abdul Momen & Shamsul Huq Bin Shahriar & Md. Kamrul Hassan & Seyama Sultana, 2020. "Determinants of Using Social Networking Sites Toward Entrepreneurial Success: Experience from a Developing Nation," Emerging Economy Studies, International Management Institute, vol. 6(2), pages 191-200, November.
    3. Nurul Ashykin Abd Aziz & Mohamad Rohieszan Ramdan & Nik Syuhailah Nik Hussin & Zuraimi Abdul Aziz & Juliana Osman & Hasif Rafidee Hasbollah, 2021. "The Determinants of Global Expansion: A Study on Food and Beverage Franchisors in Malaysia," Sustainability, MDPI, vol. 13(18), pages 1-16, September.
    4. Sandra Misiak-Kwit & Małgorzata Wiścicka-Fernando & Kelaniyage Shihan Dilruk Fernando, 2021. "The Symbiotic Mutualism between Co-Creation and Entrepreneurship," Sustainability, MDPI, vol. 13(11), pages 1-12, June.
    5. Sandra Misiak-Kwit & Yunhua Zhang, 2022. "Entrepreneurial attitude of students - comparative study between China and Poland," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 9(3), pages 118-133, March.

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