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Entrepreneurs prioritise and act on purposeful endeavours instigated to actions by the visions of profits and benefits in the perceived opportunities. In the state of maximum entropy, with disorderliness and disequilibrium, entrepreneurs select the preferred pathway, through the profit-sensing mechanism, with the best probability of success to bet on. Therefore, this paper unpacks the forces at work in the mechanism to explain how entrepreneurs respond to opportunity and interpret the signals to coalesce into organised actions.

This research is primarily a conceptual paper on entrepreneurial action and the mechanism leading to that action. It refers to thermodynamic principles and biological cases to explain the forces at work using mostly analogical comparisons and similarities.

This paper aims to present an alternative theoretical scaffolding for entrepreneurship researchers to explore non-rational entrepreneurial behaviours and actions in uncertain, unstable and non-equilibrium environments, thereby creating new and competing hypotheses under the backdrop of adaptive evolution and thermodynamics phenomena.

The discussion featuring instinctively and naturally forming responses cannot fully explain the real entrepreneurial action as there is an element of free will and choices that are not discussed. While strategic choice and free-will shape decisions, they are preceded first by the attraction of the gradients and the biased motion in the direction of profit-attractant.

There remain essential links and issues not addressed in this “natural science”, constituting life science and physical science, oriented entrepreneurship research and exploration. Conceptualising opportunity-as-artefact and entrepreneurship as design, significant incidences of entrepreneurial actions can be explained by the presence of gradients stimulating entrepreneurial actions.

This viewpoint of information causality in opportunity-as-artefact casts a new look at the venerable question of what causes entrepreneurial actions. Shane and Venkataraman brought into focus this conversation, initiating the conceptual definition of opportunity. To have entrepreneurship, entrepreneurial opportunities must come first. Figuring the signals arising from these opportunities and cueing entrepreneurs to action is the main focus of this study.

Considering the “mechanism” at work and the thermodynamical forces at play, the entrepreneurial design process appears to hold considerable promise for future research development.

The paper introduces a new conceptualisation of entrepreneurship that promotes a broader perspective of the phenomenon. The purpose of the paper is to re-conceptualise the act of entrepreneurship so as to reduce it to the fundamental behaviours and processes.

The paper sets out the motivations for and challenges in establishing a broader definition of entrepreneurship. Following this, current approaches to defining entrepreneurship are reviewed. In light of these, a definition of entrepreneurship is offered that captures a new perspective in understanding entrepreneurship. A critique of the offered definition is offered with regards to promoting theory development, empirical research, quality predictions and a distinctive research domain.

The authors argue that a definition of entrepreneurship that is focussed on the development and validation of ideas provides a thought-provoking re-conceptualisation of entrepreneurship. Extant perspectives on entrepreneurship as business/organisation creation, uncertainty, innovation, value creation and opportunity recognition/creation are drawn on to demonstrate the applicability of the definition.

The pursuit for an encompassing definition of entrepreneurship has been both extensive and earnest, which has inadvertently resulted in a sizable pool of definitions. The authors offer a re-conceptualisation of entrepreneurship with the intent to provide a broad yet coherent definition that encompasses all acts of entrepreneurship. A benefit of this conceptualisation is the establishment of the endpoint of the entrepreneurship process that delineates it from the domain of management.

Although management scholars have embraced grand challenges research, in many cases, grand challenges have been treated as merely a context for exploring extant theoretical perspectives. By comparison, our approach – robust action – provides a novel theoretical framework for tackling grand challenges. In this invited article, we revisit our 2015 model, clarifying and elaborating its key elements and taking stock of subsequent developments. We then identify three promising directions for future research: scaffolding, future imaginaries, and distributed actorhood. Ultimately, our core message is remarkably simple: robust action strategies – participatory architecture, multivocal inscription and distributed experimentation – jointly provide a means for tackling grand challenges that is well matched to their complexities, uncertainties, and evaluativities.

Opportunity recognition and opportunity exploitation are two central concepts in the entrepreneurial process. However, there is a lack of both a clear specification of the content domains of the constructs and valid and reliable multi-item scales for their measurement. The paper aims to discuss these issues.

This paper first reveals existing issues around the definitions and measures relating to the concepts, then defines their content domains, and also proposes scale items to measure the concepts. Four samples are used to develop the measurement instruments.

Two scales are suggested, one to measure opportunity recognition, and other to measure opportunity exploitation. The scales demonstrate reliability and construct, discriminant, and nomological validity.

The resulting instruments provide tools for research and practice that could prove valuable when examining the antecedents and consequences of both opportunity recognition and opportunity exploitation.

The purpose of this article is to explore how agency is distributed between human actors and nonhuman elements in entrepreneurship.

It is based on an inductive longitudinal case study of a garden in a rural community in northern Sweden. The methodology includes an ethnography of the garden, spanning the course of 16 years, and a careful investigation of the entrepreneurial processes contained within it.

This article identifies and describes different practices to explain how agency is distributed between human actors and nonhuman elements in the garden's context. Three different practices were identified and discussed, namely “calling”, “resisting”, and “provoking”.

Agency/structure constitutes a longstanding conundrum in entrepreneurship and context. This study contributes to the on-going debate on context in entrepreneurship, and introduces a posthumanist perspective—particularly that of distributed agency—to theorising in entrepreneurship. Rather than focussing on a human (hero)-driven change process, induced through the exploitation of material objects, this novel perspective views entrepreneurship as both a human and a nonhuman venture, occurring through interactions located in particular places and times. Coming from the agency/structure dichotomy, this article reaches out for elements traditionally established on the structure side, distributing them to the agency side of the dichotomy. As such, it contributes to an understanding of the agency of nonhuman elements, and how they direct entrepreneurship in context. This theoretical development prepares entrepreneurship theories to be better able to engage with nonhuman elements and provides example solutions for the ongoing climate crisis.

This paper proposes an Exchange-Based View of the value creation process. The Borrowing from marketing literature, the EBV advances that entrepreneurs and stakeholders are tied by exchange relationships, through which they co-create value by reciprocally making and realizing promises of value.

Propositions are developed and offered to advance the role of exchange in the entrepreneurial value creation process.

The authors conceptualize the enterprise as a system of exchange relationships between entrepreneurs and their stakeholders, thus proposing an exchange-based view of entrepreneurship.

Such an account of the role of entrepreneurs and of their relationship with the stakeholders has meaningful implications for our understanding of the entrepreneurial tasks of opportunity recognition and exploitation.

This chapter advances our understanding of collaborative innovation processes that span across organizational boundaries by providing an ethnographic account of idea generation dynamics in a member-initiated online songwriting community. Applying a science and technology studies perspective on processes “in the making,” the findings of this chapter reveal the generative entanglements of three processes of content-in-the-making, skill-in-the-making, and community-in-the-making that were triggered and maintained over time by temporary stabilizations of provisional, interim outcomes. These findings also elucidate interferences between these three processes, particularly when an increased focus on songs as products undermines the ongoing collaborative production of ideas. Regular interventions in the community design were necessary to simultaneously stimulate the three processes and counteract interfering tendencies that either prioritized content production, community building, or skill development, respectively. The authors conclude that firms seeking to tap into online communities’ innovative potential need to appreciate community and skill development as creative processes in their own right that have to be fostered and kept in sync with content production.

This paper extends entrepreneurial ecosystems theory by testing how aspects of the local business environment affect individual entrepreneurs' ability to translate their personal resources into firm performance.

Data were collected from 223 business owners across Australia. Moderation hypotheses were tested using multiple hierarchical regression and confirmed with the Preacher and Hayes (2004) bootstrapping method.

The results show that business owners' psychological capital, social capital and entrepreneurial education directly affect their individual firm performance. These positive relations are moderated by specific aspects of the business environment, such that they are stronger when the environment is more favorable.

This study puts individual business owners back into entrepreneurial ecosystems theory and explains how they can make the most of their personal resources, suggesting a complex interplay where one size does not fit all. Far-reaching practical implications for policymakers are discussed.

We wanted to find out how infant multinationals originating from Poland enact opportunities in Sub-Saharan African (SSA) countries.

We conducted a comparative case study of four Polish firms operating in SSA.

We found that when entering SSA, studied firms employed effectual decision-making logic. Thus, their internationalization was means-driven, serendipitous, partnership-oriented, based on the “affordable loss” principle and focused on shaping opportunities in SSA, rather than predicting, analyzing and planning any firm-specific assets or capabilities.

We illuminated the nature of the means employed in effectual internationalization and the role of partners (“effectual stakeholders”) in this process. Thus, we contribute to a deeper understanding of how infant multinationals navigate extreme uncertainty in the emerging SSA markets.

Transnational entrepreneurship can be considered a new stream of research where migrant entrepreneurship and international business research fields intersect. The purpose of this paper is to offer a theoretical framework to address the following research question: How do transnational entrepreneurs (TEs) develop their competitive advantage to succeed in a global market?

Based on the strategic entrepreneurship approach and dynamic capability perspective, this paper suggests a theoretical framework to extend the understanding on how TEs may develop their competitive advantage to succeed in a global market.

The suggested theoretical framework exhibits how the social ties of TEs affects their firm performance through the mediating effect of a bundle of two organizational processes (opportunity sensing and opportunity seizing) and the moderating effect of institutional distance between countries of origin and residence.

TEs should not solely focus on their ethnic social ties. That is why this paper suggests that ethnic ties in the country of origin and the country of residence (COR) may lead to higher firm performance only if systematically used alongside nonethnic ties in the COR. Furthermore, it is crucial for TEs to understand the importance of dynamic capabilities in developing and sustaining their competitive advantage.

Based on the strategic entrepreneurship approach, this paper suggests a social tie-based model of the dynamic capability to address the theoretical void in the transnational entrepreneurship literature. The linkage between social tie and performance which has been in a black box is examined in terms of how strong and weak social ties may affect different underlying processes of TEs’ dynamic capabilities differently. In contrast to the common conceptualization of institutional distance as a negative moderator in international business literature, institutional distance is theorized as a positive moderator in the suggested theoretical model of transnational entrepreneurship.