Current theories on entrepreneurship have tried to explore the field of entrepreneurship. However, the dynamism of the environment and technology need a new approach of researching on entrepreneurship. Based on the beliefs of the importance in the society, and in the development of a country regarding the contribution in employment creation, and economic development, entrepreneurship has got much attention in decision-makers and scholars. Diverse standpoints have been taken by researchers, and many theories have been developed. Most of the theories have focused on finding factors that may justify entrepreneurship.
Some of the most influential theories have taken an economic orientation, others a social orientation or psychosocial orientation. Thus, as identified by Kwabena theories like the economic entrepreneurship theory, the psychological entrepreneurship theory, the sociological entrepreneurship theory, the anthropological entrepreneurship theory, the opportunity-based entrepreneurship theory, and the resource-based entrepreneurship theory have been developed by scholars to explain the field of entrepreneurship.
These theories inspired many researches in the field of entrepreneurship all over the world. The recent orientation taken by researchers was trying to understand the factors underlying entrepreneurial intentions. This orientation was inspired by the theory of planned behavior. As in the original theory of reasoned action, a central element in the theory of planned behavior is the intention of the individual to perform a given behavior.
Table of Contents
1. Current State of Entrepreneurship
2. New Orientation
Objectives and Topics
This work aims to evaluate the current theoretical landscape of entrepreneurship research, highlighting its limitations in the face of modern technological, social, and economic developments, and proposes a shift towards more dynamic, context-aware research approaches.
- The evolution and current state of various entrepreneurship theories.
- The impact of entrepreneurial intention and self-efficacy on venture success.
- Limitations of traditional theories in addressing modern economic and social phenomena.
- The role of environmental and institutional factors in supporting entrepreneurship.
- Future research directions in developing and emerging economies.
Excerpt from the Book
Current State of Entrepreneurship
Based on the believes of the importance in the society, and in the development of a country regarding the contribution in employment creation, and economic development, entrepreneurship has got much attention in decisionmakers and scholars. Diverse standpoint has been taken by researchers, and many theories have been developed. Most of the theories have focused on finding factors that may justify entrepreneurship. Some of the most influential theory have taken economic orientation, others in social orientation, others psychosocial orientation.
Thus, as identified by Kwabena (2011) theories like (1) Economic entrepreneurship theory, (2) Psychological entrepreneurship theory (3) Sociological entrepreneurship theory, (4) Anthropological entrepreneurship theory (5) Opportunity-Based entrepreneurship theory, and (6) Resource-Based entrepreneurship theory have been developed by scholars to explain the field of entrepreneurship. As it can be depicted these theories are linked on economics, psychology, sociology, anthropology, and management. These theories inspired many researches in the field of entrepreneurship all over the world. The recent orientation taken by researchers was trying to understand the factors underlying entrepreneurial intentions.
Summary of Chapters
Current State of Entrepreneurship: This chapter reviews the prevailing theories of entrepreneurship, categorizing them by their economic, psychological, and sociological foundations while highlighting the recent scholarly focus on entrepreneurial intentions and the theory of planned behavior.
New Orientation: This chapter argues that existing theories are becoming obsolete due to rapid technological change, globalization, and social movements, calling for a new research approach that considers dynamic economic environments and institutional roles.
Keywords
Entrepreneurship, Entrepreneurial Intention, Self-Efficacy, Economic Development, Theory of Planned Behavior, Social Entrepreneurship, Macro-economic Climate, Globalization, Institutional Support, Environmental Factors, Innovation, Technology, Human Capital, Sustainable Entrepreneurship, Research Limitations.
Frequently Asked Questions
What is the core focus of this research paper?
The paper evaluates how existing entrepreneurship theories attempt to explain the field and why these theories currently require a new orientation due to modern environmental and technological shifts.
Which central topics are addressed in the work?
The research covers the historical development of entrepreneurship theories, the influence of entrepreneurial intentions, the role of self-efficacy, and the impact of external environmental and institutional factors on startup success.
What is the primary objective of this study?
The primary goal is to identify the limitations of current entrepreneurship theories and to suggest future research directions that better capture the complexity of today’s dynamic global economy.
Which scientific methodology is primarily utilized?
The work employs a literature review and synthesis methodology, analyzing prior research and established theories to identify gaps and develop theoretical arguments for a new orientation in the field.
What is the main subject matter of the main section?
The main body examines factors such as individual psychological attributes, environmental variables, and educational influences that drive entrepreneurial intent and success.
Which keywords best characterize this academic work?
Key terms include entrepreneurship, entrepreneurial intention, self-efficacy, sustainable entrepreneurship, and macro-economic environment.
How does the author view the impact of technology on current theories?
The author argues that modern technological advancements and the world wide web pose significant challenges to current theories, rendering some older models obsolete.
What is the suggested role of government according to the new orientation?
The author suggests that beyond traditional roles like defense and justice, governments should more actively facilitate a positive business climate and provide incentives to support the entrepreneurship ecosystem.
- Quote paper
- Antoine Niyungeko (Author), 2020, Directions for Research, Theory-Building and Application in Entrepreneurship, Munich, GRIN Verlag, https://www.grin.com/document/956919
