Stages Of Discovery And Entrepreneurship

Bart Nooteboom

ERIM Report Series Research in Management from Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus University Rotterdam

Abstract: In an attempt at a systematic theory of entrepreneurship, this paper connects various literatures, from economics and business. In economics, there are many notions of entrepreneurship, some of which seem to contradict each other. For example, there are notions of entrepreneurship as an equilibrating and as a disequilibrating force. In this paper, these differences are connected with the issue of exploitation and exploration from the business literature. The question is how one can explore while maintaining exploitation. For this, a cycle of discovery has been proposed, with stages of equilibration and disequilibration which build on each other, in process where exploitation leads to exploration. It is proposed that different notions of entrepreneurship can be associated with different stages of that cycle. In this way, different types of entrepreneurship complement each other in an ongoing process of discovery.

Keywords: discovery; entrepreneurship; innovation; organizational learning (search for similar items in EconPapers)
JEL-codes: L2 M M10 (search for similar items in EconPapers)
Date: 2003-05-06
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Persistent link: https://EconPapers.repec.org/RePEc:ems:eureri:327

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