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The knowledge-based approach to entrepreneurship: linking the entrepreneurial process to the dynamic evolution of knowledge

The knowledge-based approach to entrepreneurship: linking the entrepreneurial process to the... Reviewing the theory behind the opportunity-based approach to entrepreneurship, several weaknesses can be identified. These relate to the fundamental and elementary factors that underpin the opportunity, the time after the initial exploitation of the opportunity and the nature of the concept of 'opportunity'. It seems that the definitive conceptual framework for the field of entrepreneurship has not yet been found. As an alternative, and inspired by the influential work of Boisot (1998), a knowledge-based approach to entrepreneurship is proposed. This perspective considers entrepreneurship as a function of knowledge and attitude. Additionally, it describes the entrepreneurial process – from the venture idea to the newly formed business's strategic success – as the development of knowledge following Boisot's (1998) Social Learning Cycle within the Information Space. Linked to these insights is the claim that Schumpeterian learning contributes to the success of the newly founded business. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png International Journal of Knowledge Management Studies Inderscience Publishers

The knowledge-based approach to entrepreneurship: linking the entrepreneurial process to the dynamic evolution of knowledge

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Publisher
Inderscience Publishers
Copyright
Copyright © Inderscience Enterprises Ltd. All rights reserved
ISSN
1743-8268
eISSN
1743-8276
Publisher site
See Article on Publisher Site

Abstract

Reviewing the theory behind the opportunity-based approach to entrepreneurship, several weaknesses can be identified. These relate to the fundamental and elementary factors that underpin the opportunity, the time after the initial exploitation of the opportunity and the nature of the concept of 'opportunity'. It seems that the definitive conceptual framework for the field of entrepreneurship has not yet been found. As an alternative, and inspired by the influential work of Boisot (1998), a knowledge-based approach to entrepreneurship is proposed. This perspective considers entrepreneurship as a function of knowledge and attitude. Additionally, it describes the entrepreneurial process – from the venture idea to the newly formed business's strategic success – as the development of knowledge following Boisot's (1998) Social Learning Cycle within the Information Space. Linked to these insights is the claim that Schumpeterian learning contributes to the success of the newly founded business.

Journal

International Journal of Knowledge Management StudiesInderscience Publishers

Published: Jan 1, 2006

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