Entrepreneurship, subjectivism, and the resource-based view: toward a new synthesis


This article maintains that the consistent application of subjectivism helps reconcile contemporary entrepreneurship theory with the strategic management literature, particularly the resource-based view of the firm. The article synthesizes theoretical insights from Austrian economics, Penrose’s (1959) resources approach, and modern resource-based theory, focusing on the essential subjectivity of the entrepreneurial process. This new synthesis describes entrepreneurship as a creative team act in which heterogeneous managerial mental models interact to create and arrange resources to produce a collective output that is creatively superior to individual output. Copyright © 2008 Strategic Management Society.

Journal or Publication:
Strategic Entrepreneurship Journal
Authors:
NICOLAI J FOSS
Peter G. Klein
YASEMIN Y KOR
Joseph T. Mahoney
Tags:
Status:
publish
Year Published
2008
Relevant Principles:
Download Attachment:
 PDF Download