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The Blessing of Necessity and Advantages of Newness

Entrepreneurial Resourcefulness: Competing With Constraints

ISBN: 978-1-78190-018-5

ISSN: 1074-7540

Publication date: 14 August 2014

Abstract

This chapter explores the advantages of newness and positive aspects of resource constraints, critically departing from assumptions of resource constraints and liabilities of newness. The chapter is based on a multiple case study consisting of nascent entrepreneurial processes from inexperienced entrepreneurs with severely constrained access to resources. Six theoretical concepts (legitimacy, fashion, flexibility, networks, bootstrapping, and motivation) are developed in the frame of reference. Empirical data is collected on a rich variety of sources, including longitudinal data in the form of weekly logbooks, business plans, theoretical reflections, and additional collected data during the process. Based on this data, the analysis shows that while these entrepreneurs face resource constraints and liabilities of newness, they also use strategies to leverage their constraints and novelty as an advantage in advancing their venturing efforts.

Keywords

Citation

Honig, B., Karlsson, T. and Hägg, G. (2014), "The Blessing of Necessity and Advantages of Newness", Entrepreneurial Resourcefulness: Competing With Constraints (Advances in Entrepreneurship, Firm Emergence and Growth, Vol. 15), Emerald Group Publishing Limited, Bingley, pp. 63-94. https://doi.org/10.1108/S1074-7540(2013)0000015006

Publisher

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Emerald Group Publishing Limited

Copyright © 2013 Emerald Group Publishing Limited