Entrepreneurship Theories

When we think of startups, we often imagine a lone wolf in a garage. But the data suggests a different reality: most businesses are a family affair. "75% of entrepreneurs in 48 economies around the world said that their family was involved in starting their businesses, either as co-managers or co-owners. The vast majority of startups around the world are, in fact, family businesses." — Babson College   Beyond Succession: Pooling Resources Historically, research focused on Succession —the passing of the torch from one generation to the next. While legacy is important, modern theory recognizes that family entrepreneurship is also about the creation of new ventures. Chrisman et al. (2003) argue that the true power of families lies in their unique ability to pool resources . Families can mobilize labor, capital, and social connections faster than non-family teams because of high trust and shared goals. New Frontiers: Copreneurs and Teams Randerson et a...

When we think about a digital entrepreneur , we might imagine a single person making millions of dollars through a fully automated website or app. That seems very different from the traditional view of entrepreneurship as a process of organization-building. Where is the organization in digital entrepreneurship? The Rise of Digital Business Models According to a literature review by Zaheer et al. (2019), the specific focus on 'digital entrepreneurship' is relatively new, gaining traction around 2013. Before that, research focused primarily on the transformation of existing business models due to the internet and e-commerce. It only became a distinct research stream when entrepreneurs started making waves with digital business models that possess very small human organizational footprints but massive reach. Distinguishing Digital from Traditional Ventures There has been a growing movement to distinguish digital entrepreneurship from...

The relationship between entrepreneurship and narcissism has been a topic of intense interest among researchers and scholars for many years (Campbell et al., 2011). While the stereotype of the "arrogant visionary" is common, the data reveals a nuanced reality.  While some studies suggest that narcissistic traits can drive entrepreneurial success, others argue they often result in negative outcomes for both the entrepreneur and their ventures (Leung et al., 2021). Do Entrepreneurs Score Higher in Narcissism? Generally, entrepreneurs tend to score higher on measures of narcissism than non-entrepreneurs. Researchers suggest that moderate levels of narcissism may actually be beneficial in specific scenarios. These traits are often associated with: 1) Increased self-confidence, 2) A higher tolerance for risk-taking; 3) Charisma and the ability to persuade stakeholders. For example, a confident CEO may be more likely to pursue innovative opportunities or navigate ch...