scholarly journals Thermodynamics Expression in Action within Entrepreneurial Process

2021 ◽  
Author(s):  
David Leong
Keyword(s):  
Social Constructionist ◽  
Invisible Hand ◽  
Imperfect Markets ◽  
Unified Theory ◽  
Entrepreneurial Process ◽  
Physical Systems ◽  
Naturally Occurring ◽  
Energy Gradient ◽  
Process View ◽  
Entrepreneurial Action

<div> <div> <div> <p>Up until now, entrepreneurship study has not developed a unified theory with key concepts that can elucidate the holistically process-driven characteristics of entrepreneurial venturing. What spur entrepreneurs to action along the process-driven pathway? This paper intends to relate the business of entrepreneurship and entrepreneurial actions and activities to thermodynamic and energy gradient-manipulation mechanism. Taking entrepreneurial venturing from a process view and in an attempt to reconstruct the entrepreneurial process by illustrating a range of relevant perspectives from energy gradients in naturally occurring chemical , biological and physical systems basing on interpretive and phenomenological, social constructionist angle; this paper hopes to pull together a unifying theory on action-based activities in entrepreneurial venturing with thermodynamic concepts and expressions with gradient-manipulation mechanism to explain the entrepreneurial action-motion phenomena. The gradient-manipulating mechanism and thermodynamic expressions thus become the “nature” invisible hand that operates the motion of actions. Kirzner’s theory of entrepreneurship explains the coordination of markets and of knowledge. It is that knowledge, the recognition of the opportunities in the actual imperfect markets that triggers the gradient-manipulation mechanism. </p> </div> </div> </div>

scholarly journals Thermodynamics Expression in Action within Entrepreneurial Process

2021 ◽  
Author(s):  
David Leong
Keyword(s):  
Social Constructionist ◽  
Invisible Hand ◽  
Imperfect Markets ◽  
Unified Theory ◽  
Entrepreneurial Process ◽  
Physical Systems ◽  
Naturally Occurring ◽  
Energy Gradient ◽  
Process View ◽  
Entrepreneurial Action

<div> <div> <div> <p>Up until now, entrepreneurship study has not developed a unified theory with key concepts that can elucidate the holistically process-driven characteristics of entrepreneurial venturing. What spur entrepreneurs to action along the process-driven pathway? This paper intends to relate the business of entrepreneurship and entrepreneurial actions and activities to thermodynamic and energy gradient-manipulation mechanism. Taking entrepreneurial venturing from a process view and in an attempt to reconstruct the entrepreneurial process by illustrating a range of relevant perspectives from energy gradients in naturally occurring chemical , biological and physical systems basing on interpretive and phenomenological, social constructionist angle; this paper hopes to pull together a unifying theory on action-based activities in entrepreneurial venturing with thermodynamic concepts and expressions with gradient-manipulation mechanism to explain the entrepreneurial action-motion phenomena. The gradient-manipulating mechanism and thermodynamic expressions thus become the “nature” invisible hand that operates the motion of actions. Kirzner’s theory of entrepreneurship explains the coordination of markets and of knowledge. It is that knowledge, the recognition of the opportunities in the actual imperfect markets that triggers the gradient-manipulation mechanism. </p> </div> </div> </div>

scholarly journals Thermodynamics and Gradient Manipulation Mechanism in Entrepreneurial Actions

2021 ◽  
Vol 16 (9) ◽  
pp. 29
Author(s):  
David Leong
Keyword(s):  
Invisible Hand ◽  
Imperfect Markets ◽  
Entrepreneurial Process ◽  
Paradigmatic Shift ◽  
Naturally Occurring ◽  
Energy Gradient ◽  
Key Concepts ◽  
Process View ◽  
Thermodynamic Forces ◽  
Entrepreneurial Action

Entrepreneurship researches started to have traction at the start of 1980 and underwent paradigmatic shift. However despite the varied veins of exploration from opportunities to innate traits, entrepreneurship literatures have yet developed a unifying conceptualization and theory with key concepts that can clearly explain why entrepreneurs act the way they do? What inspires them to action? What seduce them to move at all? This paper intends to relate the study of entrepreneurship, entrepreneurial actions and activities with references to thermodynamic and energy gradient manipulation mechanism. Studying business ventures from a process view in an attempt to reconstruct the entrepreneurial process by illustrating a range of relevant perspectives from energy gradients in naturally occurring chemicals and suspension coils, this paper hopes to pull together a unifying theory on entrepreneurship basing on the forces at work with thermodynamic concepts and expressions with gradient-manipulation mechanism to explain the entrepreneurial action-motion phenomena. The gradient-manipulating mechanism and thermodynamic expressions thus become the &ldquo;nature&rdquo; invisible hand that operates the motion of actions. Kirzner&rsquo;s theory of entrepreneurship explains the coordination of markets and of knowledge. It is that knowledge, the recognition of the opportunities in the actual imperfect markets that triggers the gradient-manipulation mechanism. The findings of this paper suggest that entrepreneurial actions are force-driven by the lure of profits to select of best pathways and means to achieve the ends. The idea that entrepreneurial actions are the results of the play of forces with thermodynamic forces at work is a powerful suggestion in the finding of this paper.

Institutions, uncertainty, and entrepreneurial judgment

2021 ◽  
pp. 1-11
Author(s):  
Claus Wiemann Frølund
Keyword(s):  
Human Interaction ◽  
Knightian Uncertainty ◽  
Entrepreneurial Process ◽  
Course Of Action ◽  
Judgment Process ◽  
Entrepreneurial Action ◽  
The Way

Abstract Entrepreneurial action takes place in a context of Knightian uncertainty. In order to overcome this uncertainty, entrepreneurs engage in a process of judgment resulting in a decision about the course of action. Institutions arise mainly to reduce economic friction by providing structure to human interaction and thus reducing uncertainty. However, institutions may also introduce further uncertainty and thus disrupt the judgment process preceding entrepreneurial action. The present paper builds upon recent efforts to integrate the concepts of uncertainty and institutions within the entrepreneurial context. Drawing on Frank H. Knight's seminal insight, the judgment-based view of entrepreneurship, and relevant concepts of entrepreneurial outcomes, the main contribution of the paper lies in the development of a model offering a coherent description of the way institutions affect uncertainty and the entrepreneurial process.

scholarly journals Participant-led video diaries

2018 ◽  
Author(s):  
Rebecca Whiting ◽  
Helen Roby ◽  
Gillian Symon ◽  
Petros Chamakiotis
Keyword(s):  
Real Time ◽  
Research Design ◽  
Digital Technologies ◽  
Work Life ◽  
Social Constructionist ◽  
Narrative Interviews ◽  
Organizational Research ◽  
Modal Data ◽  
Naturally Occurring

Rebecca Whiting, Helen Roby, Gillian Symon, and Petros Chamakiotis develop an unconventional research design using video methods, asking participants to produce their own video diaries, a process which is then followed by narrative interviews. This approach generates multi-modal data: audio, visual, and textual, and involves adopting a qualitative perspective, and a social constructionist epistemology. This participant-led research design allows researchers to investigate a range of issues that are not often recalled in interviews or surveys, by capturing naturally occurring, real-time events and activities, and micro-interactions including non-verbal behaviours. Although video methods are used in other disciplines, they are rare in organizational research. The approach is illustrated by a study which explored how digital technologies affect our ability to manage switches across work-life boundaries. Analysis of participants’ video diaries illustrates the theoretical and reflexive insights that can be gained from this method. The problems and pitfalls encountered in this study are also considered.

Entrepreneurial Action and Competencies: Exploring Pathways to Venturing Accomplishments

2020 ◽  
Vol 0 (0) ◽  
Author(s):  
Melodi Botha ◽  
Michael Pietersen
Keyword(s):  
South African ◽  
Structural Equation ◽  
Online Survey ◽  
Influential Factors ◽  
Equation Modeling ◽  
Mediation Model ◽  
Competency Development ◽  
Entrepreneurial Process ◽  
Efficiency And Effectiveness ◽  
Entrepreneurial Action

AbstractScholars often cite an entrepreneur’s actions and their skills, know-how and entrepreneurial competencies (ECs) as the most influential factors related to the accomplishment of important venturing outcomes. Yet the joint impact of these factors on venturing accomplishments is yet to be explored. This paper aims to fill this void by empirically developing and testing a mediation model exploring three EC mechanisms by which entrepreneurial actions—specifically discovery and exploitation activities—led to the achievement of specific venturing accomplishments—namely the time to breakeven and turnover achieved. Data were collected from 1150 South African entrepreneurs using an online survey. Covariance-based structural equation modeling was used to test the hypothesized model. Results show that entrepreneurial action (EA) significantly impacts on the efficiency and effectiveness of a venture through the development of three key ECs. Furthermore, the type of action taken by entrepreneurs during the entrepreneurial process differentially influences competency development and venturing accomplishments. More specifically, opportunity discovery and exploitation activities have a varying impact on EC development, as the engagement in these distinct venture-related activities provides unique feedback for the development of appropriate behavioral scripts for specific contexts which lead to distinct venturing accomplishments. This research offers novel insights into the newly emerging scholarly conviction that engagement in the entrepreneurial process itself may affect key entrepreneurial abilities and accomplishments. In so doing, this paper builds on, and has implications for, theories of competency development and venturing performance, as well as pedagogical interventions aimed at enhancing entrepreneurship.

RE-CONTEXTUALIZING OPPORTUNITY AS ARTIFACT SIGNALLING FOR ENTREPRENEURIAL ACTION

2021 ◽  
pp. 2150021
Author(s):  
DAVID LEONG
Keyword(s):  
Dynamic Approach ◽  
Entrepreneurial Process ◽  
Developmental Context ◽  
Entrepreneurial Opportunities ◽  
Signalling Theory ◽  
Entrepreneurial Action ◽  
Over Time

In exploring entrepreneurial action as a response to opportunities, this paper uses signalling theory to provide new insights as the entrepreneur moves from perception to recognition to enactment. We adopt a dynamic approach to how entrepreneurs perceive opportunities and form initial opportunity beliefs, recognizing that, over time, beliefs change. The perceived potentialities from the signals arising from opportunities also change. Strength of the initial opportunity beliefs, morph-ability of opportunities, frequency of opportunity appearances, multiple interpretations of opportunity, latency of opportunity, observability (intensity, visibility, strength and clarity), distortions of opportunity and false opportunity are topics that are not sufficiently addressed in research on entrepreneurial opportunities. We argue that the signalling effects open new avenues of inquiry related to the central role of opportunity in the entrepreneurial process. Instead of seeing opportunity from either the discovery or creation approaches, opportunity should be viewed as an artifact with embedded perceived potentialities. Implications are drawn for the developmental context.

What Makes an Entrepreneurship Study Entrepreneurial? Toward A Unified Theory of Entrepreneurial Agency

2020 ◽  
pp. 104225872092246 ◽  
Author(s):  
Jeffery S. McMullen ◽  
Katrina M. Ingram ◽  
Joel Adams
Keyword(s):  
Structural Transformation ◽  
Knowledge Creation ◽  
Social Structures ◽  
Unified Theory ◽  
Five Elements ◽  
Entrepreneurial Action ◽  
Conceptual Core

Calls for greater contextualization have been powerful in motivating research and knowledge creation about entrepreneurship. However, unless counter-balanced with attempts to identify the field’s conceptual core, these efforts have the potential to devolve into hyper-contextualization, exposing the field to fragmentation, loss of consensus, and possible disintegration. We identify five elements of entrepreneurial agency common across eight subcommunities of entrepreneurship but emphasized differently in each. By conceiving of entrepreneurship as structural transformation, we explain why some agents succeed at transforming social structures via entrepreneurial action. We conclude with some first steps toward the development of a unified theory of entrepreneurial agency.

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