Outlines of a behavioral theory of the entrepreneurial firm
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Authors
Dew, Nicholas
Read, Stuart
Sarasvathy, Saras D.
Wiltbank, Robert
Subjects
Entrepreneurship
Effectuation
Design
Exaptation
Non-predictive control
Effectuation
Design
Exaptation
Non-predictive control
Advisors
Date of Issue
2008
Date
Publisher
Elsevier
Language
Abstract
In A Behavioral Theory of the Firm (BTF), Cyert and March [Cyert, R.M., March, J.G., 1963. A Behavioral Theory of the Firm. Prentice-Hall, Englewood Cliffs, NJ] present a clutch of ideas for explaining the behavior of established firms within an environment of well-defined markets, stakeholder relationships, technologies, and so on. In this paper, we outline a behavioral theory of the entrepreneurial firm that emphasizes transforming environments rather than acting within extant ones. In particular, we explicate three ideas that parallel key concepts in BTF: (1) accumulating stakeholder commitments under goal ambiguity (in line with a political conception of goals), (2) achieving control (as opposed to managing expectations) through non-predictive strategies, and (3) predominately exaptive (rather than adaptive) orientation.
Type
Article
Description
The article of record as published may be found at http://dx.doi.org/10.1016/j.jebo.2006.10.008
Series/Report No
Department
Organization
Identifiers
NPS Report Number
Sponsors
Funding
Format
Citation
Journal of Economic Behavior & Organization, Vol. 66, pp. 37-59, 2008.
Distribution Statement
Rights
This publication is a work of the U.S. Government as defined in Title 17, United States Code, Section 101. Copyright protection is not available for this work in the United States.