This book organizes entrepreneurship theory in a way that constitutes a new body of knowledge, which is Informational Entrepreneurship. It can serve as a basis for teaching entrepreneurship and reducing performance uncertainty. Although entrepreneurship is not entirely about information, information determines how it can be systematically understood while depending less on luck. It also offers the only known, experimentally tested approach that incorporates decision support tools. Other known approaches rely on exposition for validation; whereas, Informational Entrepreneurship uses two-sample experiments that controlled for other explanations as well as experimenter bias. It will appeal to those studying and teaching entrepreneurship who are looking for a prescriptive approach, rather than a descriptive approach.
This book offers a critique of social justice theory and its impact on entrepreneurship scholarship. It traces its deep roots in postmodernism by positioning entrepreneurship within these new intellectual, social, and economic environments. It highlights current philosophical assumptions, with implications for boundary conditions that we apply as scientists. Science depends on theoretical assumptions and boundary conditions. Unfortunately, a glaring weakness in entrepreneurship research has been its general failure to identify these premises. No theory is universally applicable, so its assumptions and boundary conditions are what give it analytical power. Where do they come from? Simply stated, they come from a theory's philosophy of science. However, even more rare than stating assumptions and boundary conditions is to discuss a study's governing philosophy. In fact, no known research published in entrepreneurship has discussed a study's philosophical orientation. This provocative work details postmodern concerns related to critical theory, their origins, their status, and specifically how they impact entrepreneurship and those who are not designated as either the victimized or part of the white patriarchy. It will challenge the current direction of entrepreneurship research and confront the general acceptance of the tenets of postmodernism among management scholars.
Entrepreneurs do much more than manage small businesses. At the heart of entrepreneurship is the discovery process. An idea is conceived and then exploited for profit. But if the idea is neither useful nor unique, its exploitation will generate only average profits. Therefore, the idea and the process that leads to its discovery are of the utmost importance to the success of any new venture. Can the discovery process be taught, or must one be born with the talent to unearth promising opportunities? Fiet argues that entrepreneurial discovery can indeed be taught, and he proposes a theory of the informational elements that constitute the discovery process. Entrepreneurship as an academic discipline has often been criticized for lacking intellectual rigor and a theoretical foundation. Fiet supplies both in this scholarly book, which approaches entrepreneurial competence from an academic perspective. There are three primary characteristics of entrepreneurial competence: tacit knowledge of an entrepreneur's field of endeavor, which can be improved by trial and error; the knowledge of decision rules that enable one to make rational informational investments based upon the signals of opportunities; and the unequal distribution of entrpreneurial competence among the population. Recognizing that entrepreneurs start out at different stages of competence, Fiet asserts that anyone cam improve using his book as a pedagogical aid. This volume fills a void in the entrepreneurship literature, which too often is indistinguishable from that which informs courses on small business management.
Engaging and accessible, The Entrepreneurial Solution to Poverty and the Science of What is Possible examines the systematic practice of poverty alleviation. Using the science of informational economics (IE), based on leveraging specific information, as well as decades’ worth of experimental evidence, James Fiet demonstrates how poverty may be mitigated through entrepreneurial practices.
This book explores how religious doctrines influence launching a new venture. It examines 16 Christian denominations and 9 world religions and how they would reasonably be expected to apply more than 20 distinct doctrines each to entrepreneurship. It is not an examination of doctrinal veracity because adherents have confidence in their beliefs. Rather, it examines how they will evaluate the attractiveness of entrepreneurship through the lenses of their beliefs, assuming they receive what they expect. More than 100 years ago, Max Weber pitted Protestantism against Hinduism in a single hypothesis. The current study is a multifactorial examination that covers the world’s major religions, as well as most of their doctrines. It is the first comprehensive examination of how entrepreneurs view the world through the lenses of their religious doctrines, which represent the formalization of their most deeply held beliefs.
The Theoretical World of Entrepreneurship contains the first and most comprehensive examination of more than 250 theories applicable to the study of entrepreneurship. It includes a theoretical examination of current social and economic controversies that impact entrepreneurs. Following in Weber's tradition, it also compares the doctrines of 16 Christian denominations and nine world religions which offer different conceptual windows for understanding entrepreneurs.
Identifying opportunities is essential to successful entrepreneurial activity; but good opportunities may be missed if entrepreneurs fail to understand when and where to search for them, or appreciate the significance of timing and place in their search. This book identifies and addresses three problems which face aspiring entrepreneurs. The first is finding a promising idea to exploit; the second is to know when to stop searching, or pursue a more promising search; and the third is to understand how the entrepreneur can locate him or herself in time and space to most economically locate a discovery. As well as developing original theories to solve these problems, this book offers practical solutions, which aspiring entrepreneurs can learn and implement through theory-based activities, giving them an opportunity to practice while gaining an understanding of both why and how these approaches work. Showing how timing becomes more salient than time, and place more important than space, this book combines theoretical and practical guidance which will be of great interest to entrepreneurship researchers, educators, students and aspiring entrepreneurs.
This book organizes entrepreneurship theory in a way that constitutes a new body of knowledge, which is Informational Entrepreneurship. It can serve as a basis for teaching entrepreneurship and reducing performance uncertainty. Although entrepreneurship is not entirely about information, information determines how it can be systematically understood while depending less on luck. It also offers the only known, experimentally tested approach that incorporates decision support tools. Other known approaches rely on exposition for validation; whereas, Informational Entrepreneurship uses two-sample experiments that controlled for other explanations as well as experimenter bias. It will appeal to those studying and teaching entrepreneurship who are looking for a prescriptive approach, rather than a descriptive approach.
Entrepreneurs do much more than manage small businesses. At the heart of entrepreneurship is the discovery process. An idea is conceived and then exploited for profit. But if the idea is neither useful nor unique, its exploitation will generate only average profits. Therefore, the idea and the process that leads to its discovery are of the utmost importance to the success of any new venture. Can the discovery process be taught, or must one be born with the talent to unearth promising opportunities? Fiet argues that entrepreneurial discovery can indeed be taught, and he proposes a theory of the informational elements that constitute the discovery process. Entrepreneurship as an academic discipline has often been criticized for lacking intellectual rigor and a theoretical foundation. Fiet supplies both in this scholarly book, which approaches entrepreneurial competence from an academic perspective. There are three primary characteristics of entrepreneurial competence: tacit knowledge of an entrepreneur's field of endeavor, which can be improved by trial and error; the knowledge of decision rules that enable one to make rational informational investments based upon the signals of opportunities; and the unequal distribution of entrpreneurial competence among the population. Recognizing that entrepreneurs start out at different stages of competence, Fiet asserts that anyone cam improve using his book as a pedagogical aid. This volume fills a void in the entrepreneurship literature, which too often is indistinguishable from that which informs courses on small business management.
The Theoretical World of Entrepreneurship contains the first and most comprehensive examination of more than 250 theories applicable to the study of entrepreneurship. It includes a theoretical examination of current social and economic controversies that impact entrepreneurs. Following in Weber's tradition, it also compares the doctrines of 16 Christian denominations and nine world religions which offer different conceptual windows for understanding entrepreneurs.
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