Entrepreneurial Processes in a Changing Economy

Entrepreneurial Processes in a Changing Economy

Frontiers in European Entrepreneurship Research

Frontiers in European Entrepreneurship series

Edited by Friederike Welter, David Smallbone and Anita Van Gils

The contributors take a closer look at what constitutes entrepreneurial processes; how entrepreneurs develop their businesses and access critical resources in times of crisis; and which roles knowledge and innovation play in continuous venture development. The chapters included in this volume give a flavour of the themes and approaches featuring in contemporary entrepreneurship and small business research in Europe.

Chapter 2: Entrepreneurial Mobility, Resource Orchestration and Context

Mike Wright

Subjects: business and management, entrepreneurship


Mike Wright 1. INTRODUCTION The global economy has been marked, and continues to be affected, by traumatic turbulence. Economies are always changing but we appear to be witnessing a paradigm shift rather than any short-term blip in fortunes. Many developed economies especially are struggling to maintain GDP growth and avoid a double-dip recession. There has been a significant increase in corporate insolvencies, and access to bank finance is severely constrained. Such conditions emphasize the need for adaptability by entrepreneurs if they are to survive and prosper. These conditions introduce opportunities for new types of entrepreneurial firms that involve the adaptability and mobility of entrepreneurs. Further, these conditions pose challenges to entrepreneurs in assembling and coordinating the resources and capabilities they need to exploit these opportunities. While the strategic entrepreneurship literature is beginning to make great strides in linking opportunities to resources, it has so far had little to say about the role of context in introducing contingencies to this process. A changing economy stresses the need to understand the context in which entrepreneurship occurs, since this may contribute to the success of ventures and help in identifying the heterogeneity of entrepreneurial activities. Although context has received some recognition in the entrepreneurship literature (Welter 2011), generally this has been quite fragmented and has not fully recognized the heterogeneity of context (Zahra and Wright 2011). My purpose in this chapter is to contribute to an integration of the process and contextual perspectives on entrepreneurship. Specifically, I examine how the resource coordination or...

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