This paper presents a theoretical framework that extends the benefits of some core elements of operations strategy to the field of entrepreneurship. We show that the field…
This paper presents a theoretical framework that extends the benefits of some core elements of operations strategy to the field of entrepreneurship. We show that the field of operations strategy, with its predominant focus on fit among configuration, competencies, and logistics, offers valuable insights into many strategic and tactical challenges that entrepreneurs face as they try to create business models and enter new markets or establish footholds in existing, but well‐defended markets. It is our aim to highlight the need for future endeavors linking the two fields.
Shane and Venkataraman (2000) and Venkataraman (1997) suggest that the field of entrepreneurship seeks to understand how opportunities are discovered, created, and exploited, by whom, and with what consequences (italic added). Surprisingly and despite the fact that the person – the entrepreneur – is central to the creation of new ventures, entrepreneurship scholars are reluctant to explicitly include individual differences in formal models of new venture formation. For example, notwithstanding the important role that entrepreneurs play in forging new wealth and creating new jobs, research to identify cognitive processes, attitudes, behaviors, traits, or other characteristics that distinguish entrepreneurs from others who opt to work as employees remains somewhat marginal. Indeed, only very few studies on individual differences have been published in leading management journals. One possible explanation for this reluctance is that in the past researchers might have classified most individual differences as traits research and thus criticism spilled over to include all individual difference research, regardless of whether the focus was trait, cognitions, emotions, attitudes, behaviors, or other characteristics.
Entrepreneurship education is rapidly growing, both in the number of schools offering programs and in the range of courses. But, survey data shows that entrepreneurship…
Entrepreneurship education is rapidly growing, both in the number of schools offering programs and in the range of courses. But, survey data shows that entrepreneurship education is more likely to focus on how to evaluate business opportunities, write a business plan, present a proposal to investors, and conduct analytical exercises to determine value. The success of a venture begins with the entrepreneur, and as students become entrepreneurs, they will need to wear a variety of “hats” and serve as the primary finance, marketing, human resources, and operations person. High self-efficacy, emotional intelligence, and well-developed interpersonal skills have been shown to equate to a firmʼs success.These skills are rarely polished and perfected in the classroom. But, because they are so critical, more concentration on their development is needed in the entrepreneurship curriculum. This article presents the case and provides a model for developing “Use of Self” skills in the entrepreneurship classroom.
Cognition has always been central to the popular way of thinking about entrepreneurship. Entrepreneurs imagine a different future. They envision or discover new products or services. They perceive or recognize opportunities. They assess risk, and figure out how to profit from it. They identify possible new combinations of resources. Common to all of these is the individual’s use of their perceptual and reasoning skills, what we call cognition, a term borrowed from the psychologists’ lexicon.