A Theory of Local Entrepreneurship in the Knowledge Economy

A Theory of Local Entrepreneurship in the Knowledge Economy

Pierre-André Julien

This highly original book represents a departure from entrepreneurship literature that is largely limited to the study of entrepreneurs’ behaviour. Its dynamic presentation of holistic theory will prove an extremely absorbing read for those with an academic or professional interest in business and management, entrepreneurship and regional development.

Chapter 1: The Knowledge Economy: Uncertainty, Ambiguity and Potential

Pierre-André Julien

Subjects: business and management, entrepreneurship, economics and finance, regional economics


PART I Context: The Knowledge Economy and Different Dynamics In starting an applied study of entrepreneurship such as this, it is important to understand the socio-economic environment in which entrepreneurship (or criminal activity, to use our metaphor) takes place. All research is marked to some extent by the time and place at which it occurs, and it is equally important, before getting to the heart of the matter, to clarify what we understand by the knowledge economy and the differences in local or small regional dynamics. Advanced knowledge is not the be-all and end-all; many small production and institutional routines that require very little knowledge, or no new knowledge at all, are perfectly valid. To go back to our metaphor, some crimes are not solved simply because they are too ‘normal’ for anyone to notice them – as would be the case for certain disappearances, for example. Similarly, globalization is not the be-all and end-all either; many types of production are local and will remain so for long periods, just as there are always crimes that are completely unique or confined to particular national or international gangs. To suggest that advanced knowledge is always necessary or that globalization is a factor in every type of production can be quite meaningless. Similarly, the fact that a business is local or regional in no way negates globalization – quite the contrary. Many firms are able to escape international pressures, or at least manage perfectly well without continually having to consider international...

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