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Tucked in the back of Venkataraman’s 1997 work on the distinctive domain of entrepreneurship (DDE) lies a pointer to a question each individual must face when choosing to start a new venture; “is entrepreneurship worth it?” Inventorying costs associated with risk, uncertainty, and illiquidity against surpluses from financial and psychological factors unique to entrepreneurship, Venkataraman tempts readers to tally entrepreneurial returns. The authors summarize and integrate an academic study of these various cost and return components over the past 20 years using Venkataraman’s original framework. The authors find the answer to the question of “is entrepreneurship worth it?” varies with time. Researcher’s answer to the question has shifted from an early view that entrepreneurs sacrifice financial gain in exchange for soft psychological benefits to a more positive view that entrepreneurs are rewarded both financially and psychologically for the unique costs borne in the DDE. But the rewards are not immediate. In entrepreneur time, break-even emerges by gradually overcoming an initial deficit. As surpluses accrue, returns to entrepreneurs likely eventually exceed those of their wage-earning peers.

In “The next wave of entrepreneurship research,” Schoonhoven and Romanelli (hereafter S&R, this volume) set forth a broad-gauge review of recent work in entrepreneurship. They challenge standard debates and focus on arguments and research that explore large-scale contextual variation in complex ecologies of entrepreneurship over time. Further, their review puts networks and teams, communities of expertise and knowledge, and collective activity at the center of new directions for entrepreneurial research. They contend, in this paper and elsewhere, that the important questions going forward “concern the mass effects of entrepreneurial activity on the creation of new firms and industries, the pioneering of emerging markets, the evolution of existing industries, the development of regional economies, and even … the competitiveness of nations” (Schoonhoven & Romanelli, 2001, p. 383).

This paper reflects on the evolution of implicit and explicit behavioral ideas in the field of strategic management using Herbert Simon’s scholarship as a starting point, that is, his emphasis on empirically driven; interdisciplinary theorizing allowing and enabling two-way street learning. We argue that historically, there were plenty of behavioral ideas embedded in the field and, together with the recent movement towards explicit “behavioral strategy,” these provide several possible paths for future developments in strategic management research. In the spirit of broadening the tent for behavioral strategy in the future (Hambrick & Crossland, 2018), we suggest some topics and approaches for behavioral strategy in empirically driven, interdisciplinary directions which allows also for two-way street learning between concepts and real-world strategic phenomena.

Entrepreneurial firms are vital to economic growth because they bring creative insights and unique capabilities to the marketplace. The content of entrepreneurial firm strategies reflect the unique opportunities that the technological breakthroughs, operational efficiencies, and/or marketing genius of entrepreneurial firms bring into existence. Entrepreneurial firms are at the forefront of creating new classes of products and services, and sometimes even new industries. With them, they often bring new methods of competing. Volume 11 identifies several strategic dilemmas and strategic choices that organizations face in their efforts to be more entrepreneurial. It concludes with a lively debate between well-known scholars regarding the best ways to advance entrepreneurship as a scholarly field.

Case study research frequently includes collecting and interpreting stories individuals tell about their lives and event that they believe that they know about. Chapter 3 discusses storytelling theory and describes case study research in consumer behavior of stories that consumers tell about buying and using products and services. Storytelling is pervasive through life. Much information is stored, indexed, and retrieved in the form of stories. Although lectures tend to put people to sleep, stories move them to action. People relate to each other in terms of stories — and products and brands often play both central and peripheral roles in their stories. To aid storytelling research in consumer psychology, this chapter develops a narrative theory that describes how consumers use brands as props or anthropomorphic actors in stories they report about themselves and others. Such drama enactments enable these storytellers to experience powerful myths that reflect psychological archetypes. The chapter includes findings from case study research that probes propositions of the theory. Implications for consumer psychology and marketing practice follow the discussion of the findings.

The debate that entrepreneurship is an engine of economic development has been a long-standing one. The higher the level of entrepreneurial activities, the higher the economic development. However, this literature is contradictory or elusive in Sub-Saharan Africa. Entrepreneurial activities are high in Africa, but economic development is not. Using Global Entrepreneurship Monitor (GEM, 2017) data, the chapter discusses some of the contradictory factors. Further data were collected from 60 businesses, 20 each from Cameroon, Nigeria and Uganda for more clarification in 2019. The results show that the economic development is solely measured in economic terms. Entrepreneurship in Africa operates in an embedded context quite different from that of developed nations. Africans are often only making do with the environment in which they find themselves; thus, entrepreneurship in Africa should not be seen as unproductive considering the context and motives of the entrepreneurs.