The Theory of Entrepreneurial Competence

Chandra S. Mishra and Ramona K. Zachary
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Chandra S. Mishra: Florida Atlantic University
Ramona K. Zachary: The City University of New York

Chapter 5 in The Theory of Entrepreneurship, 2014, pp 115-140 from Palgrave Macmillan

Abstract: Abstract Within the Entrepreneurial Value Creation Theory, the Theory of Entrepreneurial Competence combines resources and opportunities, propelled by entrepreneurial intention, resulting in an entrepreneurial competence as a key source of value creation generated from within Stage 1—Formulation. Specifically, within the Theory of Entrepreneurial Intentionality, entrepreneurial intention and adaptability, via the feasibility modulator, adjusts and adapts entrepreneurial resources. Next, the entrepreneur advances forward to the effectuation multiplier, which deploys entrepreneurial resources to reconfigure the entrepreneurial opportunity into an entrepreneurial competence, which then leads into Stage 2—Monetization (see figure 5.1). This iterative process can also initiate from the intention input and cycle through this internal process between the feasibility modulator and the effectuation multiplier.

Keywords: Entrepreneurial Action; Family Firm; Family Business; Entrepreneurial Intention; Entrepreneurial Opportunity (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-37146-1_5

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DOI: 10.1057/9781137371461_5

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