Entrepreneurship Theories

Born global startups are ventures that start thinking and acting globally in their early stages of development, which utilize international markets and resources to scale their growth. Attention to born global startups comes from a stream of theory and research that examines how startups rapidly internationalize their new ventures (Knight and Cavusgil, 2004). Traditionally, entrepreneurs would focus on domestic markets first and then pursue internationalization gradually as they develop the requisite skills through trial and error. Modern advances in internet technologies, global talent flows, and international supply chains have substantially lowered the cost for entrepreneurs to internationalize (McCormick & Somaya, 2020). They have also made it possible for startups to address global markets from the very beginning of their existence. Entrepreneurs can now bypass many of their home-country constraints such as government inefficiencies and physical location (McCormick & Somay

Informal entrepreneurship refers to economic activity that occurs outside of the formal economy, which is typically characterized by the absence of legal and regulatory frameworks. This type of entrepreneurship is often associated with small-scale, unregistered, and unregulated businesses that operate in the informal sector. The informal economy is made up of a diverse range of activities, including street vending, artisanal production, and home-based businesses, among others. While these businesses may provide a means of livelihood for individuals and communities, they often face significant barriers to growth and sustainability due to their lack of access to formal financing, legal protections, and other resources. In contrast, the formal economy is the part of the economy that is recognized and regulated by government institutions. Companies and entrepreneurs operating in the formal economy are required to pay taxes, adhere to labour laws and regulations, and obtain necessary licens

Do slackers have an advantage in entrepreneurship? This theory is passed around more as rumour than formal theoretical framework. The theory starts with a premise about how entrepreneurial ventures come about. Entrepreneurial opportunities are viewed as difficult to discover or create, requiring a lot of time and trial and error. Perhaps slacker have nothing more important to do, allowing them the resilience to keep trying, even after repeated failures.   Perhaps individuals who are not particularly motivated or hardworking can still become successful entrepreneurs. By embracing a more laid-back approach to work, entrepreneurs may find creative and innovative solutions to problems that others might overlook. The idea of the slacker theory of entrepreneurship challenges the conventional wisdom that success in business requires long hours and a relentless work ethic. Instead, it suggests that entrepreneurs who are willing to take risks and think outside the box can find success even if

How can feminist theory enlighten us about entrepreneurship? For the most part, women entrepreneurs are in the minority, and they are less likely to be funded by venture capitalists. This naturally leads to criticism of the old boys club in venture capital investment that tends to invest less in women led ventures. There are some indications that these trends are changing but its far from over. Much of the feminist literature that discusses entrepreneurship tends to look at differences between entrepreneurial entry rates and opportunities for women entrepreneurs as well as the systems and structures that cause the disparities between men and women. Hurley (1999): "Traditional anthropological theories stated that the key factor in human evolution was the male’s hunting activities. The men developed the important social skills of  communication, co-operation and tool making, while women contributed little...Feminist theories showed that women’s activities were the key

Do entrepreneurs exhibit dynamic capabilities?  At the core of the theory of dynamic capabilities is the assumption that an organization's current resources and capabilities, which may be optimally suited to the current environmental conditions, will not likely be relevant under future conditions. Recognizing that changes in technologies, policies, and tastes make for a continuously evolving landscape of needs and wants, an organization needs to be able to respond. Organizations need to be able to transform their capabilities over time as needed to seize new opportunities. They also need to be continually sensing new opportunities. According to Teece (2007): "the competitive advantage of firms stems from dynamic capabilities rooted in high performance routines operating inside the firm, embedded in the firm’s processes, and conditioned by its history" Responding to change How do they respond effectively to changes on the order of converging industries and intern