Value Creation Through Entrepreneurship: Reconciling the Two Meanings of the Good Life

Ethicists and economists have always highlighted the tension between the individual and social meanings of the pursuit of the “good” life. Recently, entrepreneurship scholars too have acknowledged this as a key problem in value creation. In this paper, we bring two ideas from the work of Simon (docility) and March (the technology of foolishness) to synthesize a theoretical framework that not only begins to resolve this tension but also underpins the actual practice of entrepreneurship.

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Academy of Management Review
Saras Sarasvathy
Andrew C Wicks
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