What We Know and What We Need to Know
Edited by Alain Fayolle
Chapter 1: What we know and what we need to know in the field of entrepreneurship
Entrepreneurship is a very fast-growing field which is getting better scientific and social recognition. To give just one example, from 2000 to 2010, the growth of the entrepreneurship division of the Academy of Management has been over 230 per cent. This division is one of the biggest of the association, with over 2700 members. There are more and more articles published in entrepreneurship journals and, more importantly, there is a growth of the penetration rate of entrepreneurship research in top-tier management journals such as Administrative Science Quarterly, Management Science, Academy of Management Review, Academy of Management Journal, Strategic Management Journal and Journal of Management. In 2010, Shane and Venkataraman's 2000 article, 'The promise of entrepreneurship as a field of research', won the Academy of Management Review Decade Award. This article has had over 2500 citations and has been influential for various reasons (Shane, 2012). It offers a process-based conceptualization of entrepreneurship discussion as a distinctive domain of research with its own questions and theories. It also opens new research avenues at the nexus of individuals and opportunities. Since the beginning of the third millennium, we are seeing in the academic literature an ongoing theoretical conversation on the discovery versus the creation of entrepreneurial opportunities. A more nuanced view of entrepreneurship is also developing in the field, giving some importance to cognition, intuition, emotion, failure, learning and expertise.
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