Toward a Theory of the Entrepreneurial Process

Dennis Leyden and Albert Link

No 14-4, UNCG Economics Working Papers from University of North Carolina at Greensboro, Department of Economics

Abstract: This paper models the entrepreneurial process as both creation and discovery composed of an iterative two-step process where entrepreneurs create social networks based on subjective expectations about the future effectiveness of those networks, and then choose the innovation to pursue and map a search process to discover how to bring the innovation to fruition. Critical to this process is the mix of strong ties and weak ties that make up social networks and the ability to carry forward the social capital embodied in such networks. The tendency of long-existing entrepreneurs to be less innovative can be explained using this model.

Keywords: entrepreneurship; social networks; innovation; technology (search for similar items in EconPapers)
JEL-codes: L26 M13 O31 O33 (search for similar items in EconPapers)
Pages: 28 pages
Date: 2014-08-14
New Economics Papers: this item is included in nep-ent, nep-hme, nep-ino, nep-sbm, nep-soc and nep-ure
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Journal Article: Toward a theory of the entrepreneurial process (2015)
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Persistent link: https://EconPapers.repec.org/RePEc:ris:uncgec:2014_004

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