Shane, SA ~ A General Theory of Entrepreneurship

Shane, Scott Andrew
2003
A General Theory of Entrepreneurship: The Individual-Opportunity Nexus

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Definition-entrepreneurship:
“Entrepreneurship is an activity that involves the discovery, evaluation and exploitation of opportunities to introduce new goods and services, ways of organizing, markets, processes, and raw materials through organizing efforts that previously had not existed (Venkataraman, 1997; Shane and Venkataraman, 2000).”

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“the entrepreneurial process requires some form of innovation. By innovation, I do not mean that all entrepreneurial efforts require the grand Schumpeterian (1934) innovations that result in new combinations that spur creative destruction. […] the entrepreneurial process can involve a type of innovation that is much milder, such as placing a restaurant on a different corner of an intersection from existing restaurants, or using different recipes or employees in a new restaurant in the same location as an old one. [for example Venkataraman, 1997] pointed out that this milder form of innovation is often associated with Kirznerian (1997), rather than Schumpeterian, entrepreneurial opportunities.
However, even Kirznerian opportunities involve innovation. By definition, entrepreneurship cannot involve the perfect imitation of what has been done before. The simple fact that it involves the recombination of resources into a new form according to the judgment of the entrepreneur means that entrepreneurship involves some innovative activity.”

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“The conceptual framework that underlies this book is quite straightforward. Because the economy operates in a continual state of disequilibrium and change, situations arise in which people can transform resources into a form (new goods and services, new ways of organizing, new methods of production, new markets or new materials) that they believe will have greater value than their cost to create (Venkataraman, 1997). The entrepreneurial process begins with the perception of the existence of opportunities, or situations in which resources can be recombined at a potential profit. Alert individuals, called entrepreneurs, discover these opportunities, and develop ideas for how to pursue them, including the development of a product or service that will be provided to customers. These individuals then obtain resources, design organizations or other modes of opportunity exploitation, and develop strategies to exploit the opportunities.”

About the author

Woitek Konzal

Producer, Consultant, Lecturer & Researcher. I love working where technology meets media in novel ways. Once, I even won an Emmy for digital innovation doing that. Be it for a small but exciting campaign about underground electronic music collectives or for a monster project combining two movies, various 360° videos, 72 ARG-like mini puzzles, and a Unity game, all wrapped up in one cross-platform app – I have proven my ability to adapt to what is required. This passion for novel technologies has regularly allowed me to cross paths with tech startups – an industry and philosophy I am all set to engage with more. I intensely enjoy balancing out my practical work with academic research, teaching, and consulting. Also, I have a PhD in Creative Industries, a M.Sc. in Business Administration, and love to kitesurf.

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