Entrepreneurship: A Personal View

Abstract

Entrepreneurship studies is a booming area of research, but, as previous commentators have noted, the literature has become pluralistic and diffuse. There is a profusion of concepts, many of them ill defined. Theory and empiricism are only weakly linked. There is a distinct lack of historical perspective. It is proposed that entrepreneurship studies get “back to basics” and develop the theoretical tradition established by the early literature. This will involve greater use of formal models and greater attention to cognition and information processing. It will lead to a more rigorous and relevant body of theory and to more meaningful empirical research.

Key Words:

• Entrepreneur
• Opportunity
• Strategy
• Theory
• Research Agenda.

• JEL classifications:
• B2
• B4
• L1
• L2
• P1.

I am grateful to the Andrew Godley, Janet Casson, and the editors for valuable comments on the original draft.