Abstract
Definitions and explanations of the entrepreneurial process occur frequently in entrepreneurship literature. Often “entrepreneurial process” and “process of new venture formation” are used as synonyms. However, this book will not adopt this definition, as the new venture or enterprise formation represents only a section of the entrepreneurial process. Many of the explanations are derived from phase or life-cycle based models. In a simplified study of an ideal case, the entrepreneurial process comprises all functions, activities and actions which are associated with the recognition of an entrepreneurial opportunity, its evaluation and corresponding development of a business idea, as well as with writing a business plan, establishing an organization and founding of the enterprise itself, taking into account the required resources, ensuring the viable market establishment of the enterprise and the achievement of growth (opportunity exploitation) [Katz/Gartner (1988); Shane/Venkataraman (2000); Brush (2001); Allen (2003)]. Note that the process to establish a venture in the market place involves substantial sector heterogeneity – the steps which are necessary for establishing a restaurant business will differ considerably from those required for founding a high-tech start-up. [A good discussion of industry-specific entrepreneurship, e.g., in the technology domain, is offered in Dorf/Byers (2008)]
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
Recommended Literature
Opportunity Recognition
Ganglio, C. M. (2004): So what is an entrepreneurial opportunity, in: Butler, J. E. (ed.): Opportunity identification and entrepreneurial behavior, Greenwich, 2004, pp. 115–134.
Krueger, N. (1998): Encouraging the identification of environmental opportunities, in: Journal of Organizational Change Management, vol. 11, no. 2, 1998, pp. 174– 183.
Krueger, N. F. (2003): The cognitive psychology of entrepreneurship, in: Acs, Z. J./ Audretsch, D.B. (eds.): Handbook of entrepreneurship research – an interdisciplinary survey and introduction, Boston et al.: Kluwer, 2003, pp. 105–140.
Shane, S. (2000): Prior knowledge and the discovery of entrepreneurial opportunities, in: Organization Science, vol. 11, no. 4, 2000, pp. 448–469.
Shane, S. (2003): A general theory of entrepreneurship: the individual opportunity nexus, Cheltenham et al. 2003.
Shane, S./Venkataraman, S. (2000): The promise of entrepreneurship as a field of research, in: Academy of Management Review, vol. 25, no. 1, 2000, pp. 217–226.
Innovation and Entrepreneurship
Brown, T.E. (ed.). (2004): Innovation, entrepreneurship and culture, Cheltenham et al. 2004.
Burton, J. (2001): Innovation, entrepreneurship and the firm: a post-Schumpeterian approach, in: International Journal of Entrepreneurship and Innovation Management, vol. 1, no. 1, 2001, pp. 1–21.
Couchman, P. et al. (1999): Improving product innovation processes: moving beyond universalistic prescription to encompass diversity, in: Creativity and Innovation Management, vol. 8, no. 1, 1999, pp. 28–36.
Drucker, P.F. (2004): Innovation and Entrepreneurship: Practice and principles, 2nd edition, Oxford et al. 2004.
Martin, M.J.C. (1994): Managing innovation and entrepreneurship in technologybased firms, New York et al. 1994.
Sarkar, S. (2005): Innovation, entrepreneurship and development, in: International Journal of Entrepreneurship and Innovation Management, vol. 5, no. 5–6, 2005, pp. 359–365.
Author information
Authors and Affiliations
Rights and permissions
Copyright information
© 2010 Gabler Verlag | Springer Fachmedien Wiesbaden GmbH
About this chapter
Cite this chapter
Volkmann, C.K., Tokarski, K.O., Grünhagen, M. (2010). Processes, Entrepreneurial Opportunity, Innovation. In: Entrepreneurship in a European Perspective. Gabler. https://doi.org/10.1007/978-3-8349-8752-5_2
Download citation
DOI: https://doi.org/10.1007/978-3-8349-8752-5_2
Publisher Name: Gabler
Print ISBN: 978-3-8349-2067-6
Online ISBN: 978-3-8349-8752-5
eBook Packages: Business and EconomicsBusiness and Management (R0)