The Theory of Entrepreneurship Creating and Sustaining Entrepreneurial Value

by Zachary, Ramona K.; Mishra, Chandra S.

• ISBN13: 9781137376428
• ISBN10: 1137376422
• Format: Hardcover
• Copyright: 2014-12-04
• Publisher: Palgrave Macmillan

Summary

Just over 100 years ago, Joseph A. Schumpeter published Theorie, which, along with his other works, has shaped the field of entrepreneurship. Since then, so little research has examined the interiors of the entrepreneurial experiences and its processes. Today's treatments of entrepreneurship often consist of a cadre of disparate and discipline-based conceptual and theoretical discourses that offer their particular values and contributions.

The Theory of Entrepreneurship examines the interiors of the entrepreneurial value creation process and offers a new unified and comprehensive theory to afford empirical investigations as well as to delineate a broader view of the entrepreneurial contextual milieu. The theory is a two-stage value creation through internalization—a "Nail It" stage and a "Scale It" stage—where each stage of internalization has a source, a value lever, a feedback process, a value multiplier, and a value-added output. This title is necessary reading for all entrepreneurship scholars.

Author Biography

Ramona Kay Zachary is a Peter S. Jonas Distinguished Professor of Entrepreneurship in the Department of Management at the Zicklin School of Business at Baruch College and the Academic Director of the Lawrence N. Field Programs in Entrepreneurship. Beyond her work at Baruch, Dr. Zachary is currently the Co-Editor of the Entrepreneurship Research Journal. Dr. Zachary's work has been featured in publications including the Journal of Developmental Entrepreneurship, Entrepreneurship Theory and Practice and the Journal of Business Venturing as well as two edited books related to family businesses and home-based businesses.

Chandra S. Mishra holds the Office Depot Eminent Scholar Chair and Professor of Entrepreneurship in the College of Business. He is a founding Co-Editor of Entrepreneurship Research Journal (ERJ), a scholarly journal focusing on entrepreneurship research. From 2002 to 2010 he was Editor-in-Chief of the Journal of Small Business Management (JSBM), one of the major journals in the entrepreneurship field. Prior to FAU, Chandra was Professor of Finance at Rollins College, Associate Professor of Finance at Oregon State University, and Assistant Professor of Finance at Loyola University Chicago. Chandra's publications have appeared in Entrepreneurship Theory & Practice, Financial Management, Journal of International Business Studies, IEEE Transactions on Engineering Managements, and other academic and professional journals.

Table of Contents

Table of Contents
Dedication and Inspiration – The Ode to the Entrepreneur
Executive Summary
List of Figures
Acknowledgements
PART I: STARTING UP: INTRODUCTION
1. The Imperative and Missing Crux of Entrepreneurship Research
PART II: FROM EXTERNAL INTENTION AND OPPORTUNITY TO ENTREPRENEURIAL COMPETENCE
2. The Theory of Entrepreneurial Intentionality
3. Entrepreneurial Opportunity and Cognition
4. Entrepreneurial Capital Resources
5. The Theory of Entrepreneurial Competence
PART III: FROM ENTREPRENEURIAL COMPETENCE TO ENTREPRENEURIAL REWARD
6. Venture Financing, Adverse Selection, and Risk and Return
7. Moral Hazard, Entrepreneurial Incentives, and Risk Mitigation
8. Venture Investment and Dynamic Complementary Capabilities
9. Business Model Theory
PART IV: SUMMING UP: THE THEORY OF ENTREPRENEURSHIP
Chapter 10: The Entrepreneurial Value Creation Theory
Index