Theory, Evidence and Implications
Edited by Phillip H. Phan, Sankaran Venkataraman and S. Ramakrishna Velamuri
Chapter 4: Institutional Entrepreneurship in the Emerging Regional Economies of the Western Balkans
Denise Fletcher, Robert Huggins and Lenny Koh INTRODUCTION As evidenced in the monitoring and review eﬀorts that have begun to feature in entrepreneurship inquiry (Sarasvathy, 2000; Entrepreneurship Theory and Practice, 2001; Journal of Management, 2003; Steyaert and Hjorth, 2003), signiﬁcant progress has been made in identifying the range of theoretical resources for understanding how and why entrepreneurial activities ‘come about’ in various contexts. This work takes account of the characteristics of entrepreneurial activity in particular types of personalities, people, teams, cultures, neighbourhoods, communities, organizations, industries and economies of the world. Each emphasis has been important for facilitating a wide range of conceptual and methodological approaches to investigating entrepreneurial people, policies and practices. Each has been responsive to a range of disciplines to theorize this activity, indicating that entrepreneurship research has its intellectual roots in a variety of social science disciplines as illustrated by Swedberg (2000). This diversity of practice is further acknowledged in inquiries that investigate how entrepreneurial activities occur in diﬀerent local or regional economic, social and cultural contexts. Here research eﬀorts concentrate on examining the relationship between entrepreneurship and its expression in diﬀerent social, economic milieu (Hjorth and Johannisson, 2003), communities (Johannisson, 1990), industrial districts (Amin, 1994; Pyke et al., 1990) and regional networks (Butler and Hanson, 1991). But over the last ten years or so the local or regional embeddedness of entrepreneurial activity has been overshadowed by the more recent ‘opportunity discovery’ line of inquiry in entrepreneurship research. The opportunity recognition frameworks...
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