Key Components and Implications of Entrepreneurship: A 4-P Framework

Entrepreneurship has been gaining increasing respect from the research community as a field of scholarly study as well as practical application worldwide as a means to achieve wealth creation and personal fulfillment. Yet, entrepreneurship, as a theoretical construct and practical phenomenon, remains poorly defined and its interpretation fragmented. This article attempts an eclectic account of the major ingredients of entrepreneurship and dissects the entrepreneurship process through a parsimonious 4-P framework: pioneer, perspective, practice, and performance. It is expected that this framework will help us better understand the essence of entrepreneurship: its theoretical underpinnings as well as its practical implications.

[1]  H. Matlay,et al.  Who are the Chinese private entrepreneurs , 2006 .

[2]  Raimar Richers.  The theory of economic development , 1961 .

[3]  S. Shane,et al.  The Promise of Entrepreneurship as a Field of Research , 2000 .

[4]  R. Rumelt.  Theory, Strategy, and Entrepreneurship , 2005 .

[5]  Max S. Wortman,et al.  Entrepreneurship: An Integrating Typology and Evaluation of the Empirical Research in the Field , 1987 .

[6]  James P. Walsh,et al.  Corporate Raiders and their Disciplinary Role in the Market for Corporate Control , 1993 .

[7]  Michael H. Morris,et al.  The determinants of entrepreneurial activity , 1995 .

[8]  Shaker A. Zahra,et al.  A Conceptual Model of Entrepreneurship as Firm Behavior: A Critique and Extension , 1993 .

[9]  Jean-Jacques Laffont,et al.  A General Equilibrium Entrepreneurial Theory of Firm Formation Based on Risk Aversion , 1979, Journal of Political Economy.

[10]  F. A. Webster,et al.  Entrepreneurs and Ventures: An Attempt at Classification and Clarification , 1977 .

[11]  Justin Tan,et al.  Environment-Strategy Co-Evolution and Co-Alignment: A Staged Model of Chinese Soes Under Transition , 2005 .

[12]  David John Hickson,et al.  Managerial decision making , 1995 .

[13]  John L. Thompson,et al.  Social entrepreneurship – a new look at the people and the potential , 2000 .

[14]  Richard B. Robinson,et al.  A structural model of the effects of entrepreneurial characteristics on venture performance , 1993 .

[15]  Barbara J. Bird.  Implementing Entrepreneurial Ideas: The Case for Intention , 1988 .

[16]  Jeff W. Trailer,et al.  Measuring performance in entrepreneurship research , 1996 .

[17]  Murray B. Low,et al.  Entrepreneurship: Past Research and Future Challenges , 1988 .

[18]  H. Howard,et al.  Special Issue: Corporate Entrepreneurship || A Paradigm of Entrepreneurship: Entrepreneurial Management , 1990 .

[19]  Robert C. Davis,et al.  The Achieving Society , 1962 .

[20]  William B. Gartner,et al.  Is There an Elephant in Entrepreneurship? Blind Assumptions in Theory Development , 2001 .

[21]  Todd A. Finkle.  TRENDS IN THE MARKET FOR ENTREPRENEURSHIP FACULTY FROM 1989-2010 , 2011 .

[22]  Justin Tan,et al.  Innovation and Risk-Taking in a Transitional Economy: A Comparative Study of Chinese Managers and Entrepreneurs , 2001 .

[23]  Jerome A. Katz.  Advances in Entrepreneurship, Firm Emergence and Growth , 1998 .

[24]  R. Duane Ireland,et al.  Integrating entrepreneurship and strategic management actions to create firm wealth , 2001 .

[25]  M. Wright,et al.  The Focus of Entrepreneurial Research: Contextual and Process Issues , 2001 .

[26]  Jerome A. Katz.  The chronology and intellectual trajectory of American entrepreneurship education: 1876–1999 , 2003 .

[27]  Michael H. Morris,et al.  The concept of entrepreneurial intensity: Implications for company performance , 1996 .

[28]  Gregory G. Dess,et al.  Clarifying the Entrepreneurial Orientation Construct and Linking It To Performance , 1996 .

[29]  M. Lessnoff.  Capitalism, Socialism and Democracy , 1979 .

[30]  Dean M. Young,et al.  An Empirical Comparison between Objective and Subjective Measures of the Product Innovation Domain of Corporate Entrepreneurship , 1990 .

[31]  T. Begley,et al.  Psychological characteristics associated with performence in entrepreneurial firms and smaller businesses , 1987 .

[32]  J. Schumpeter,et al.  The Theory of Economic Development , 2017 .

[33]  Ken G. Smith,et al.  A Multidimensional Model of Venture Growth , 2001 .

[34]  Lowell W. Busenitz,et al.  Entrepreneurship Research in Emergence: Past Trends and Future Directions , 2003 .

[35]  Kressel,et al.  Competing for the Future , 2007 .

[36]  Howard E Aldrich,et al.  Chapter 4 From Traits to Rates: An Ecological Perspective on Organizational Foundings , 2019, Advances in Entrepreneurship, Firm Emergence and Growth.

[37]  S. Venkataraman,et al.  The distinctive domain of entrepreneurship research: An editor''s perspective , 1997 .

[38]  S. Zahra,et al.  Contextual influences on the corporate entrepreneurship-performance relationship: A longitudinal analysis , 1995 .

[39]  D. Teece,et al.  DYNAMIC CAPABILITIES AND STRATEGIC MANAGEMENT , 1997 .

[40]  D. Slevin,et al.  A Conceptual Model of Entrepreneurship as Firm Behavior , 1991 .

[41]  H. Pei.  The Determinants of Entrepreneurial Activity-Implications for Marketing , 1997 .

[42]  C. Prahalad,et al.  To revitalize corporate performance, we need a whole new model of strategy. Strategic intent. , 1989, Harvard business review.

[43]  R. Hisrich,et al.  Establishing a new business venture unit within a firm , 1986 .

[44]  Rita Gunther McGrath,et al.  The Entrepreneurial Mindset: Strategies for Continuously Creating Opportunity in an Age of Uncertainty , 2000 .

[45]  K. Vesper.  New venture strategies , 1979 .

[46]  Joseph T. Mahoney,et al.  The Entrepreneurial Mindset: Strategies for Continuously Creating Opportunity in an Age of Uncertainty , 2001 .

[47]  H. Stevenson,et al.  A Paradigm of Entrepreneurship: Entrepreneurial Management * , 1990 .

[48]  Ian C. MacMillan,et al.  A review of entrepreneurial development in the People's Republic of China , 1991 .

[49]  Gerald E. Hills,et al.  Entrepreneurship and new firm development: A definitional introduction , 1996 .

[50]  R. Brockhaus.  Risk Taking Propensity of Entrepreneurs , 1980 .

[51]  R. T. Beaty,et al.  The competitive challenge , 1993 .

[52]  Daniel A. Levinthal,et al.  The myopia of learning , 1993 .

[53]  S. Zahra.  Corporate entrepreneurship and financial performance: The case of management leveraged buyouts , 1995 .

[54]  Richard P. Nielsen,et al.  Intrapreneurship strategy for internal markets — corporate, non‐profit and government institution cases , 1985 .

[55]  S. Winter.  Knowledge and Competence as Strategic Assets , 1987 .

[56]  Robert A. Burgelman.  A Process Model of Internal Corporate Venturing in the Diversified Major Firm , 1983 .

[57]  Henry Mintzberg.  The Strategy Concept I: Five Ps for Strategy , 1987 .

[58]  Scott Shane,et al.  Are champions different from non-champions? , 1994 .

[59]  David L. Deeds,et al.  Trends in the Market for Entrepreneurship Faculty, 1989-1998 , 2001 .

[60]  J. Miner.  A psychological typology of successful entrepreneurs , 1997 .

[61]  C. K. Prahalad,et al.  Strategic Intent , 2007 .

[62]  Carolyn Y. Woo,et al.  Entrepreneurial information search , 1995 .

[63]  G. Huber.  Managerial decision making , 1980 .