The Origin Of The Entrepreneur And The Role Of The Innovation Commons
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| Author | : Darcy W E Allen |
| Publisher | : |
| Total Pages | : 0 |
| Release | : 2016 |
| Genre | : |
| ISBN | : |
We introduce the proto-entrepreneur as an economic agent who must first -- i.e., before acting entrepreneurially -- coordinate non-price information with others in order to reveal exploitable opportunities. Entrepreneurship, therefore, involves dual economic discovery problems, each of which may hold different efficient institutional solutions. Applying transaction cost economics logic to this problem, we reveal what we call an 'entrepreneurial fundamental transformation': while the entrepreneurial process begins with proto-entrepreneurs undertaking non-price coordination in polycentric collective action governance structures called innovation commons (Allen & Potts, 2016), it ends with integration in the hierarchical start-up firm. This governance shift, we argue, is the result of falling structural uncertainty -- as unknown complementary collaborators become known -- and rising idiosyncratic quasi-rents, both of which bring contracting hazards and move the economising structure towards the nascent firm.
| Author | : Jason Potts |
| Publisher | : Oxford University Press, USA |
| Total Pages | : 281 |
| Release | : 2019 |
| Genre | : Business & Economics |
| ISBN | : 0190937491 |
Innovation is among the most important topics in understanding economic sustained economic growth. Jason Potts argues that the initial stages of innovation require cooperation under uncertainty and draws from insights on the solving of commons problems to shed light on policies and conditions conducive to the creation of new firms and industries. The problems of innovation commons are overcome, Potts shows, when there are governance institutions that incentivize cooperation, thereby facilitating the pooling of distributed information, knowledge, and other inputs. The entrepreneurial discovery of an economic opportunity is thus an emergent institution resulting from the formation of a cooperative group, under conditions of extreme uncertainty, working toward the mutual purpose of opportunity discovery about a nascent technology or new idea. Among the problems commons address are those of the identity; cooperation; consent; monitoring; punishment; and independence. A commons is efficient compared to the creation of alternative economic institutions that involve extensive contracting and networks, private property rights and price signals, or public goods (i.e. firms, markets, and governments). In other words, the origin of innovation is not entrepreneurial action per se, but the creation of a common pool resource from which entrepreneurs can discover opportunities. Potts' framework draws on the evolutionary theory of cooperation and institutional theory of the commons. It also has important implications for understanding the origin of firms and industries, and for the design of innovation policy. Beginning with a discussion of problems of knowledge and coordination as well as their implications for common pool environments, the book then explores instances of innovation commons and the lifecycle of innovation, including increased institutionalization and rigidness. Potts also discusses the possible implications of the commons framework for policies to sustain innovation dynamics.
| Author | : Jason Potts |
| Publisher | : Oxford University Press |
| Total Pages | : 320 |
| Release | : 2019-07-02 |
| Genre | : Business & Economics |
| ISBN | : 0190937513 |
Innovation is among the most important topics in understanding economic sustained economic growth. Jason Potts argues that the initial stages of innovation require cooperation under uncertainty and draws from insights on the solving of commons problems to shed light on policies and conditions conducive to the creation of new firms and industries. The problems of innovation commons are overcome, Potts shows, when there are governance institutions that incentivize cooperation, thereby facilitating the pooling of distributed information, knowledge, and other inputs. The entrepreneurial discovery of an economic opportunity is thus an emergent institution resulting from the formation of a cooperative group, under conditions of extreme uncertainty, working toward the mutual purpose of opportunity discovery about a nascent technology or new idea. Among the problems commons address are those of the identity; cooperation; consent; monitoring; punishment; and independence. A commons is efficient compared to the creation of alternative economic institutions that involve extensive contracting and networks, private property rights and price signals, or public goods (i.e. firms, markets, and governments). In other words, the origin of innovation is not entrepreneurial action per se, but the creation of a common pool resource from which entrepreneurs can discover opportunities. Potts' framework draws on the evolutionary theory of cooperation and institutional theory of the commons. It also has important implications for understanding the origin of firms and industries, and for the design of innovation policy. Beginning with a discussion of problems of knowledge and coordination as well as their implications for common pool environments, the book then explores instances of innovation commons and the lifecycle of innovation, including increased institutionalization and rigidness. Potts also discusses the possible implications of the commons framework for policies to sustain innovation dynamics.
| Author | : David S. Landes |
| Publisher | : Princeton University Press |
| Total Pages | : 584 |
| Release | : 2012-02-26 |
| Genre | : Business & Economics |
| ISBN | : 069115452X |
This work provides a sweeping history of enterprise in Mesopotamia and Neo-Babylon; carries the reader through the Islamic Middle East; offers insights into the entrepreneurial history of China, Japan, and colonial India; and describes the crucial role of the entrepreneur in innovation activity in the Western world.
| Author | : Karl Wennberg |
| Publisher | : Springer Nature |
| Total Pages | : 364 |
| Release | : 2022-04-23 |
| Genre | : Business & Economics |
| ISBN | : 3030942732 |
The 2008 financial crisis and the COVID-19 pandemic have made the authorities to increasingly turn inward and use ethnocentrism, protectionism, and top-down approaches to guide policy on trade, competition, and industrial development. The continuing aftereffects of such policies range from the rise and seeming success of authoritarian states, rise of populist and protectionist trends, and evolving academic agendas inspiring the reemergence of top-down industrial policies across the world. This open access edited volume contains contributions from over 30 scholars with expertise in economics, innovation, management, and economic history. The chapters offer unique theoretical and empirical contributions discussing topics such as how industrial policies affect risk, incentives, and information for investments. They also address the policy perspectives on new technologies such as AI and its implications for market entry, the role for independent entrepreneurship in increasingly regulated markets, and whether governments should focus on market interventions or institutional capacity-building. Questioning the Entrepreneurial State initiates a much sought-after debate on the notion of an Entrepreneurial State. It discusses the dangers of top-down approaches to industrial policy, examines lessons from such approaches for future policy design, and calls attention to the progress of open and contestable markets in a sound economy and society. “Creative destruction, innovation and entrepreneurship are at the core of economic growth. The government has a clear role, to provide the basic fabric of a dynamic society, but industrial policy and state-owned companies are the boulevard of broken dreams and unrealized visions. This important message is convincingly stated in Questioning the Entrepreneurial State.” Anders Borg, former Minister of Finance, Sweden “Misreading the dynamism of American entrepreneurship, European intellectuals and policy makers have embraced a dangerous fantasy: catching up requires constructing an entrepreneurial state. This book provides a vital antidote: The entrepreneur comes first: The state may support. It cannot lead.” Amar Bhidé, Thomas Schmidheiny Professor of International Business, Tufts University “This important new book subjects the emergence of the entrepreneurial state, which reflects a shift in the locus of entrepreneurship from the individual to the public sector, to the scrutiny of rigorous analysis. The resulting concerns, flaws and biases inherent in the entrepreneurial state exposed are both alarming and sobering. The skill and scholarly craftsmanship brought to bear in this crucial analysis is evident throughout the book, along with the even, but ultimately consequential thinking of the authors. A must read for researchers and thought leaders in business and policy." David Audtretsch, Distinguished Professor, Ameritech Chair of Economic Development, Indiana University
| Author | : Charles H. Matthews |
| Publisher | : Routledge |
| Total Pages | : 406 |
| Release | : 2015-03-12 |
| Genre | : Business & Economics |
| ISBN | : 1317802098 |
This book presents a new model, the competency framework, for students, innovators, entrepreneurs, managers, and anyone who wants to better understand the dynamic world of innovation and entrepreneurship. Focused on both the individual and strategic organizational level, this book is about people and the competencies each person needs to learn to be successful in creating a more dynamic future. Matthews and Brueggemann’s framework for innovation and entrepreneurship competencies empowers individuals to excel at innovation and new venture creation. It provides a practical guide and clear and concise understanding of the knowledge, skills, attitudes, and experiences that are needed to increase imagination, creativity, innovation and new venture creation capability. Innovation and Entrepreneurship will be attractive for students of entrepreneurship, innovation, management and cross-disciplinary classes, such as design thinking. Presented in a modular format, Innovation & Entrepreneurship informs the future direction of people and technology, as well as the educational systems producing the next generation of innovators and entrepreneurs. Based on extensive academic research, this book is organized into two sections: Twelve innovation elements and twelve competency categories. The elements are the foundation and the competency categories are the building blocks that inform our path toward a more precise understanding of how innovation and entrepreneurship plays an important role in economic development and our daily lives.
| Author | : Amar V. Bhide |
| Publisher | : Oxford University Press |
| Total Pages | : 433 |
| Release | : 2003-10-16 |
| Genre | : Business & Economics |
| ISBN | : 019803010X |
What is this mysterious activity we call entrepreneurship? Does success require special traits and skills or just luck? Can large companies follow their example? What role does venture capital play? In a field dominated by anecdote and folklore, this landmark study integrates more than ten years of intensive research and modern theories of business and economics. The result is a comprehensive framework for understanding entrepreneurship that provides new and penetrating insights. Examining hundreds of successful ventures, the author finds that the typical business has humble, improvised origins. Well-planned start-ups, backed by substantial venture capital, are exceptional. Entrepreneurs like Bill Gates and Sam Walton initially pursue small, uncertain opportunities, without much capital, market research, or breakthrough technologies. Coping with ambiguity and surprises, face-to-face selling, and making do with second-tier employees is more important than foresight, deal-making, or recruiting top-notch teams. Transforming improvised start-ups into noteworthy enterprises requires a radical shift, from "opportunistic adaptation" in niche markets to the pursuit of ambitious strategies. This requires traits such as ambition and risk-taking that are initially unimportant. Mature corporations have to pursue entrepreneurial activity in a much more disciplined way. Companies like Intel and Merck focus their resources on large-scale initiatives that scrappy entrepreneurs cannot undertake. Their success requires carefully chosen bets, meticulous planning, and the smooth coordination of many employees rather than the talents of a driven few. This clearly and concisely written book is essential for anyone who wants to start a business, for the entrepreneur or executive who wants to grow a company, and for the scholar who wants to understand this crucial economic activity.
| Author | : Monaco, Francisco José |
| Publisher | : IGI Global |
| Total Pages | : 358 |
| Release | : 2023-07-17 |
| Genre | : Computers |
| ISBN | : 1668447878 |
Since its emergence in the mid-1980s through the protagonism of free software and open source movements, the concept of freely shareable technology has steadily established itself in the following decades to enter the 21st century as a leading industrial paradigm. From the original ambit of software technology, the principles of collaborative construction of publicly accessible knowledge grounding the open source paradigm have been extended to embrace any intellectual artifact made available under non-exclusive rights of utilization, development, and distribution. It is noteworthy, however, that whilst on one hand it is not difficult to enumerate advantages of the use of open source products by individuals and organizations—whether related to cost reduction, socio-technological inclusion, governance of technology development, security and privacy transparency, among others—on the other hand, it is not as immediate to identify their motivation to develop open source technology. While there may surely be initiatives driven by either ethical grounds, personal avocation, or public policies, those reasons alone do not explain the lasting success of many large community-driven projects, nor why large commercial enterprises massively invest in open source development. Business Models and Strategies for Open Source Projects investigates the rationales and the strategy underlying companies’ decisions to produce and release open source products as well as which business models have succeeded. Covering topics such as embedded systems, open source ecosystems, and software companies, this premier reference source is a valuable resource for entrepreneurs, business leaders and managers, students and educators of higher education, librarians, software developers, researchers, and academicians.
| Author | : Donald F. Kuratko |
| Publisher | : South Western Educational Publishing |
| Total Pages | : 544 |
| Release | : 2009 |
| Genre | : Entrepreneurship |
| ISBN | : 9780324590869 |
Learn the true process of a successful entrepreneur with Introduction to Entrepreneurship, 8/e International Edition Presenting the most current thinking in this explosive field, this renowned entrepreneurship text provides a practical, step-by-step approach that makes learning easy. Using exercises and case presentations, you can apply your own ideas and develop useful entrepreneurial skills. Cases and examples found throughout the text present the new venture creations or corporate innovations that permeate the world economy today. This book will be your guide to understanding the entrepreneurial challenges of tomorrow.
| Author | : Valérie Mérindol |
| Publisher | : Taylor & Francis |
| Total Pages | : 286 |
| Release | : 2022-11-17 |
| Genre | : Business & Economics |
| ISBN | : 1000776344 |
This book examines returns on experience and managerial practices to generate deeper collaboration, intensify co-creation, support start-ups and established companies to explore, develop and accelerate their projects thanks to open labs (living labs, fab labs, coworking spaces, "third spaces", etc). Open labs are the beatbox to create a rhythm in ecosystems and make all stakeholders move forward, faster, together. This book proposes a framework to understand how open labs, innovation hubs and collaborative spaces contribute to ecosystems. The book looks beyond the short-term effects of open labs and identifies four main dimensions: communities, physical spaces, events, and portfolios of services offered to private businesses, entrepreneurs, and start-ups, established companies, or public institutions. Drawing on extensive field research lasting over five years, with more than 40 cases and more than 200 interviews plus direct observation within different environments, this edited book investigates how managers run these labs, and how ‘users’ or ‘clients’ evolve when benefitting from their services. All chapters analyse how an actual management impacts the dynamics of communities, how it shapes the co-evolution between open labs and their ecosystems, and how the management of the physical space impacts the mission of the lab and its role in the ecosystem. Open Labs and Innovation Research is written for scholars and researchers within the fields of innovation studies and management science. This book can also inform teaching, public policy making, and professional practice.
