Transcript of "CONTEMPORARY ISSUES IN ENTREPRENEURSHIP"
CONTEMPORARY ISSUES IN ENTREPRENEURSHIP
Drs. Franz Lohrke and Lou Marino
Alston 129 and 163 Alston Hall
Phone: 348-8934 and 348-8946
Email: Flohrke@cba.ua.edu and Lmarino@cba.ua.edu
Course Description and Objectives
This course is designed to provide a broad overview of entrepreneurship research. It will be conducted in
a seminar format, which means that students bear a major responsibility to contribute to each class
During the semester, we will discuss several topics including a theoretical overview of the field,
interdisciplinary views of entrepreneurship, environmental influences on new venture creation, new
venture strategies and growth, new venture performance issues, international entrepreneurship, strategic
alliances, human resource management issues, entrepreneurship issues in a digital economy, corporate
entrepreneurship, venture capital financing, franchising, and family business.
First draft of seminar paper (due April 3rd) 20%
Final draft of seminar paper (due May 1st) 40%
Presentation of seminar paper (May 1st) 10%
Session Teacher 15%
Except in the most extreme emergencies, any student who misses an assignment without notifying the
instructor beforehand will receive a zero for the assignment. Incomplete grades will only be given in
Students will have the opportunity to translate their ideas and insights into a seminar paper, which should
be prepared in Academy of Management format and be of publishable quality in a major entrepreneurship
journal. Papers can examine one or more topics covered in the seminar. Topics not directly examined in
the seminar may also be examined if a student can demonstrate how they relate to entrepreneurship. All
paper ideas should be approved by the instructor to avoid duplication.
Each student will present his/her paper during the final session to provide the opportunity to receive
feedback from other class members and faculty. Presentations should be delivered in a conference or job
Depending on class size, students will lead discussions during one or more sessions. A seminar leader is
responsible for summarizing key issues and promoting discussion of current and future research issues.
The leader is, thus, expected to (1) develop and distribute a list of 5-10 discussion questions one week
prior to the class period(s) for which s/he has responsibility as seminar leader and (2) provide article
summaries for all articles during the seminar. Session leaders can also assign supplemental reading
material to present additional perspectives, if necessary.
January 9 Course introduction
Gartner, W. 1990. What are we talking about when we talk about entrepreneurship? Journal of
Business Venturing, 5(1): 15-28.
McCarthy, A. & Nicholls-Nixon, C. 2001. Fresh starts: Arnold Cooper on entrepreneurship and
wealth creation. Academy of Management Executive, 15(1): 27-36.
Shane, S., & Venkatraman, N. 2000. The promise of entrepreneurship as a field of research. Academy
of Management Review, 25: 217-226.
Dialogue. 2001. Academy of Management Review, 26: 8-16.
January 16 Entrepreneurship: An introduction
Bygrave, W. & Hofer, C. 1991. Theorizing about entrepreneurship. Entrepreneurship Theory and
Practice, 16(2): 13-22.
Gartner, W. 1985. A conceptual framework for describing the phenomenon of new venture creation.
Academy of Management Review, 10: 696-706.
Hofer, C. & Bygrave, W. 1992. Researching entrepreneurship. Entrepreneurship Theory and
Practice, 16(3): 91-100.
Low, M. & MacMillan, I. 1988. Entrepreneurship: Past research and future challenges. Journal of
Management, 14, 139-161.
MacMillan, I., & Katz, J. 1992. Idiosyncratic milieus of entrepreneurial research: The need for
comprehensive theories. Journal of Business Venturing, 7: 1-8.
Venkataraman, S. 1997. The distinctive domain of entrepreneurship research: An editor’s
perspective. In J. Katz and R. Brockhaus (Eds.), Advances in Entrepreneurship, Firm Emergence,
and Growth, vol. 3: 119-138. Greenwich, CT: JAI Press.
January 23 Interdisciplinary perspectives on entrepreneurship
Herron, L., Sapienza, H., & Smith-Cook, D. 1991. Entrepreneurship theory from an interdisciplinary
perspective: Volume I. Entrepreneurship Theory and Practice, 16 (2): 7-12.
Herron, L., Sapienza, H., & Smith-Cook, D. 1992. Entrepreneurship theory from an interdisciplinary
perspective: Volume II. Entrepreneurship Theory and Practice, 16 (3): 5-11.
Amit, R., Gloston, L., & Mueller, E. 1993. Challenges to theory development in entrepreneurship
research. Journal of Management Studies, 30: 815-834.
Gartner, W., Bird, B., & Starr, J. 1992. Acting as if: Differentiating entrepreneurial from
organizational behavior. Entrepreneurship Theory and Practice, 16(3): 13-31.
Hitt, M., & Ireland, R. 2000. The intersection of entrepreneurship and strategic management research.
In D. L. Sexton and H. Landström (Eds.), The Blackwell Handbook of Entrepreneurship, Oxford,
UK: Blackwell Publishers Ltd., pp. 45-63.
Reynolds, P. 1991. Sociology and entrepreneurship: Concepts and contributions. Entrepreneurship
Theory and Practice, 16(2): 47-70.
Sandberg, W. 1992. Strategic management's potential contributions to a theory of entrepreneurship.
Entrepreneurship Theory and Practice, 16(3): 73-90.
Shaver, K., & Scott, L. 1991. Person, process, choice: The psychology of new venture creation.
Entrepreneurship Theory and Practice, 16 (2): 23-45.
Brophy, D., & Shulman, J. 1992. A finance perspective on entrepreneurship research.
Entrepreneurship Theory and Practice, 16(3): 61-71.
Hills, G., & LaForge, R. 1992. Research at the marketing interface to advance entrepreneurship
theory. Entrepreneurship Theory and Practice, 16(3): 33-59.
Kirchhoff, B. 1991. Entrepreneurship's contributions to economics. Entrepreneurship Theory and
Practice, 16(2): 93-112.
Stewart, A. 1991. A prospectus on the anthropology of entrepreneurship. Entrepreneurship Theory
and Practice, 16(2): 71-91.
January 30 The Entrepreneur
Carland, J., Hoy, F., Boulton, W., & Carland, J. 1984. Differentiating entrepreneurs from small
business owners: A conceptualization. Academy of Management Review, 9: 354-359.
Carland, J., Hoy, F., & Carland, J. 1988. "Who is an entrepreneur?" Is a question worth asking.
American Journal of Small Business, 12(4), 33-39.
Gartner, W. 1988. "Who is an entrepreneur?" Is the wrong question. American Journal of Small
Business, 12(4), 11-32.
Busenitz, L. 1999. Entrepreneurial risk and strategic decision making: It’s a matter of perspective.
Journal of Applied Behavioral Science, 35: 325-340.
Busenitz, L. & Barney, J. 1997. Differences between entrepreneurs and managers in large
organizations: Biases and heuristics in strategic decision making. Journal of Business Venturing, 12:
Cooper, A, Woo, C., & Dunkelburg, W. 1988. Entrepreneurs’ perceived chances for success. Journal
of Business Venturing, 6(2): 93-114.
Gatewood, E., Shaver, K., & Gartner, W. 1995. A longitudinal study of cognitive factors influencing
start-up behaviors and success at new venture creation. Journal of Business Venturing, 10: 371-391
Herron, L., & Robinson, R., Jr. 1993. A structural model of the effects of entrepreneurial
characteristics on venture performance. Journal of Business Venturing, 8, 281-294.
February 6 Environmental influences on entrepreneurship
Aldrich, H. 1990. Using an ecological perspective to study organizational founding rates.
Entrepreneurship Theory and Practice, 14(3): 7-24.
Baumol, W. 1990. Entrepreneurship: Productive, unproductive, and destructive. Journal of Political
Economy, 98: 893-921.
Kirzner, I. 1997. Entrepreneurial discovery and the competitive market process: An Austrian
approach. Journal of Economic Literature, 35: 60-85.
Low, M. & Abrahamson, E. 1997. Movements, bandwagons, and clones: Industry evolution and the
entrepreneurial process. Journal of Business Venturing, 12(6): 435-457.
Schumpeter, J. 1936. The theory of economic development. Cambridge, MA: Harvard University
Press. Translated from the German by Redvers Opie. pp. 57-94.
Bamford, C., Dean, T., and McDougall, P. 2000. An examination of the impact of initial founding
conditions and decisions upon the performance of new bank start-ups. Journal of Business Venturing,
Dean, T., Meyer, G., & DeCastro, J. 1993. Determinants of new firm formations in manufacturing
industries: Industry dynamics, entry barriers, and organizational inertia. Entrepreneurship Theory and
Practice, 17(2), 49-60.
Dean, T. & Meyer, G. 1996. Industry environments and new venture formations in the United States:
A conceptual and empirical analysis of demand determinants. Journal of Business Venturing, 11(2):
February 13 New Venture Creation
Aldrich, H., & Auster, E. 1986. Even dwarfs started small: Liabilities of age and size and their
strategic implications. Research in Organizational Behavior, 8: 165-198.
Singh, J., Tucker, D., & House, R. 1986. Organizational legitimacy and the liability of newness.
Administrative Science Quarterly, 31: 171-193.
Bhave, M. 1994. A process model of entrepreneurial venture creation. Journal of Business
Venturing, 9, 223-242.
Bird, B. 1988. Implementing entrepreneurial ideas: The case for intention. Academy of Management
Review, 13, 442-453.
Katz, J., & Gartner, W. 1988. Properties of emerging organizations. Academy of Management
Review, 13, 429-441.
Learned, K. 1992. What happened before the organization? A model of organizational formation.
Entrepreneurship Theory and Practice, 17 (1), 39-48.
Reynolds, P., & Miller, B. 1992. New firm gestation: Conception, birth, and implications for
research. Journal of Business Venturing, 7, 405-417.
Stevenson, H., & Harmeling, S. 1990. Entrepreneurial management's need for a more "chaotic"
theory. Journal of Business Venturing, 5, 1-14.
Vanderwerf, P. 1993. A model of venture creation in new industries. Entrepreneurship Theory and
Practice, 17 (2), 39-47.
February 20 New Venture Strategies
Alvarez, S., & Busenitz, L. 2001. The entrepreneurship of resource-based theory. Forthcoming in
Journal of Management.
Rumelt, R. 1987. Theory, strategy, and entrepreneurship. In S. Teece (ed.) The competitive
challenge: Strategies for industrial innovation and renewal, Cambridge, MA: Ballinger, 137-158.
Boeker, W. 1989. Strategic change: The effects of founding and history. Academy of Management
Journal, 32: 489-515.
Carter, N. Stearns, T., Reynolds, P., & Miller, B. 1994. New venture strategies: Theory development
with an empirical base. Strategic Management Journal, 15: 21-41.
Chandler, G. & Hanks, S. 1994. Market attractiveness, resource-based capabilities, venture strategies,
and venture performance. Journal of Business Venturing, 9: 331-349.
McDougall, P., & Robinson, R., Jr. 1990. New venture strategies: An empirical identification of eight
‘archetypes’ of competitive strategies for entry, Strategic Management Journal; 11: 447-467.
Sandberg, W. & Hofer, C. 1987. Improving new venture performance: The role of strategy, industry
structure, and the entrepreneur. Journal of Business Venturing, 2: 5-28.
Barney, J. 1991. Firm resources and sustained competitive advantage. Journal of Management, 17:
Conner, K. 1991. A historical comparison of resource-based theory and five schools of thought within
industrial organization economics: Do we have a new theory of the firm? Journal of Management, 17:
February 27 Human resource management issues in entrepreneurship
Class will be held on Friday, March 1 from 9:00 a.m. to 12:00 p.m. Our guest speaker will be
Professor Karen Bishop, University of Louisville. Readings TBA.
Following class, Professors Lohrke and Marino will lead a discussion during the First Friday Lecture
Series entitled “Current issues and challenges in entrepreneurship research.” All students are strongly
encouraged to attend and participate.
March 6 Entrepreneurial Orientation and Corporate Entrepreneurship
Barringer, B., & Harrison, J. 1999. The relationship between corporate entrepreneurship and strategic
management. Strategic Management Journal, 20: 421-444.
Burgleman, R. 1983. Corporate entrepreneurship and strategic management: Insights from a process
study. Management Science, 29: 1349-1364.
Stopford, J., & Baden-Fuller, C. 1994. Creating corporate entrepreneurship. Strategic Management
Journal, 15: 521-536.
Stevenson, H., & Jarillo, J. 1990. A paradigm of entrepreneurship: Entrepreneurial management.
Strategic Management Journal, 11(Summer): 17-27.
Covin, J. & Slevin, D. 1991. A conceptual model of entrepreneurship as firm behavior.
Entrepreneurship Theory and Practice, 16(1): 7-25.
Dess, G., Lumpkin, G., & Covin, J. 1997. Entrepreneurial strategy making and firm performance:
Tests of contingency and configurational models. Strategic Management Journal, 18: 677-695.
Lumpkin, G., & Dess, G. 1996. Clarifying the entrepreneurial orientation construct and linking it to
performance. Academy of Management Review, 21: 135-172.
Zahra, S., Jennings, D., & Kuratko, D. 1999. The antecedents and consequences of firm-level
entrepreneurship: The state of the field. Entrepreneurship Theory and Practice, 24(2): 45-65.
March 13 New Venture Growth
Baum, J., Locke, E., & Smith, K. 2001. A multidimensional model of venture growth. Academy of
Management Journal, 44: 292-303.
Birley, S. & Stockley, S. 2000. Entrepreneurial teams and venture growth. In D. L. Sexton and H.
Landström (Eds.), The Blackwell Handbook of Entrepreneurship, Oxford, UK: Blackwell Publishers
Ltd., pp. 287-307.
Covin, J., & Slevin, D. 1990. New venture strategic posture, structure, and performance: An industry
life cycle analysis. Journal of Business Venturing, 5: 123-135.
Davidsson, P., & Wiklund, H. 2000. Conceptual and empirical challenges in the study of firm growth.
In D. L. Sexton and H. Landström (Eds.), The Blackwell Handbook of Entrepreneurship, Oxford,
UK: Blackwell Publishers Ltd., pp. 26-44.
Hanks, S., Watson, C., Jansen, E., & Chandler, G. 1993. Tightening the life-cycle construct: A
taxonomic study of growth stage configurations in high-technology organizations. Entrepreneurship
Theory and Practice, 18(2), 5-29.
Kazanjian, R. & Drazin, R. 1990. A state-contingent model of design and growth for technology
based new ventures. Journal of Business Venturing, 5: 137-150.
Siegel, R., Siegel, E., & MacMillan, I. 1993. Characteristics distinguishing high-growth ventures.
Journal of Business Venturing, 8(2): 169-180.
Eisenhardt, K. & Schoonhoven, C. 1990. Organizational growth: Linking founding team, strategy,
environment, and growth among U.S. semiconductor ventures, 1978-1988. Administrative Science
Quarterly, 35: 504-529.
Hambrick, D. & Crozier, L. 1985. Stumblers and stars in the management of rapid growth. Journal of
Business Venturing, 1: 31-45.
March 20 New Venture Performance
Brush, C. & Vanderwerf, P. 1992. A comparison of methods and sources for obtaining estimates of
new venture performance. Journal of Business Venturing, 7, 157-170.
Cooper, A. 1993. Challenges in predicting new firm performance. Journal of Business Venturing,
Chrisman, J., Baurschmidt, A., & Hofer, C. 1998. The determinants of new venture performance: An
extended model. Entrepreneurship Theory and Practice, 23: 5-29.
McGrath, R. 1999. Falling forward: Real options reasoning and entrepreneurial failure. Academy of
Management Review, 24: 13-30.
Murphy, G., Trailer, J., & Hill, R. 1996. Measuring performance in entrepreneurship research,
Journal of Business Research, 15-23.
Sapienza, H., Smith, K., & Gannon, M. 1988. Using subjective evaluations of organizational
performance in small business research. American Journal of Small Business, 12 (3), 45-53.
Dess, G., & Robinson, R., Jr.1984.Measuring organizational performance in the absence of objective
measures: The case of the privately-held firm and conglomerate business unit. Strategic Management
Journal, 5: 265-273.
Steers, R. 1975. Problems in the measurement of organizational effectiveness, Administrative
Science Quarterly, 20, 546-558.
Venkatraman, N., & Ramanujam, V. 1986. Measurement of business performance in strategy
research: A comparison of approaches, Academy of Management Review; 11: 801-814.
March 27 Spring Break (No Class)
April 3 Technology topics: Innovation and entrepreneurship in the digital economy
Assignment: First draft due at the beginning of class
Arthur, B. 1996 "Increasing Returns and the New World of Business," Harvard Business Review,
Drucker, P. 1985. The discipline of innovation. Harvard Business Review, 63(3): 67-72
Christensen, C., & Bower, J. L. 1996. Customer power, strategic investment, and the failure of
leading firms. Strategic Management Journal, 17: 197-218.
Moore, G. 1991. Crossing the chasm. Part I - Discovering the chasm, pp. 3-59.
Urban, G., & von Hipple, E. 1988. Lead user analysis for the development of new products.
Management Science, 35: 569-582.
Teece, D. 1987. Profiting from technological innovation: Implications for integration, collaboration,
licensing, and public policy. In S. Teece (ed.) The competitive challenge: Strategies for industrial
innovation and renewal, Cambridge, MA: Ballinger, 185-219.
Autio, E. 2000. Growth of technology-based new firms. In D. L. Sexton and H. Landström (Eds.),
The Blackwell Handbook of Entrepreneurship, Oxford, UK: Blackwell Publishers Ltd., pp. 329-347.
Bakos, J. 1998. The emerging role of electronic marketplaces on the Internet. Communiciations of
the ACM, 41(8): 35-42.
Kasper-Fuehrer, E., & Ashkanasy, N. 2001. Communicating trustworthiness and building trust in
interorganizational virtual organizations. Journal of Management. 27, 235-254.
Lynch, J., Jr, & Ariely, D. 2000. Wine online: Search costs affect competition on price, quality, and
distribution Marketing Science, 19: 83-103
Picot, A., Borenlanger, C., & Rohrl, H. 1997. Organizational of electronic markets: Contributions
from the New Institutional Economics. The Information Society, 13: 107-123.
Malone, T., Yates, J., & Benjamin, R. 1989. The logic of electronic markets. Harvard Business
Review, 67(3): 166-170.
O’Conner, G., & O’Keefe, B. 1997. Viewing the Web as a marketplace: The case of small companies.
Decision Support Systems, 21: 171-183.
April 10 Finance Topics: Venture Capital and Initial Public Offerings
Amit, R. Brander, J., & Zott, C. 2000. Venture capital financing of entrepreneurship: Theory,
empirical evidence and a research agenda In D. L. Sexton and H. Landström (Eds.), The Blackwell
Handbook of Entrepreneurship, Oxford, UK: Blackwell Publishers Ltd., pp. 259-281.
Cyr, L, Johnson, D., & Welbourne, T. 2000.Human resources in initial public offering firms: Do
venture capitalists make a difference? Entrepreneurship Theory and Practice; 25(1): 77-91
MacMillan, I., Zemann, L., & Subbanarasimha, P. 1987. Criteria distinguishing successful from
unsuccessful ventures in the venture screening process. Journal of Business Venturing, 2: 123-137.
Ruhnka, J., Feldman, H., & Dean, T. 1992. The “Living Dead” phenomenon in venture capital
investments. Journal of Business Venturing, 7(2): 137-155.
Shepherd, D., & Zacharakis, A. 2001. Speed to initial public offering of VC-backed companies.
Entrepreneurship Theory and Practice; 25(3): 59-69/
Sykes, H. 1990. Corporate venture capital: Strategies for success. Journal of Business Venturing,
Lerner, J. The venture capital cycle Section II - Venture capital investing, pp. 125-202
Ritter J. 1984. The 'Hot Issue' market of 1980. Journal of Business, 57(2): 215-40.
April 17 Networks, Alliances, and International Entrepreneurship
Barringer, B., & Harrison, J. 2000. Walking the tightrope: Creating value through interorganizational
relationships. Journal of Management. 26: 367-404
Baum, J., Calabrese, T., & Silverman, B. 2000. Don’t go it alone: Alliance network composition and
startups’ performance in Canadian biotechnology. Strategic Management Journal, 21: 267-294.
Eisenhardt, K., & Schoonhooven, C. 1996. Resource-based view of strategic alliance formation:
Strategic and social effects in entrepreneurial firms. Organization Science, 7: 136-150.
Lee, C., Lee, K., & Pennings, J. 2001. Internal capabilities, external networks, and performance: A
study on technology-based ventures. Strategic Management Journal, 22: 615-640.
Steensma, H., Marino, L., Weaver, K., & Dickson, P. 2000. The influence of national culture on the
formation of technology alliances by entrepreneurial firms. Academy of Management Journal, 43:
McDougall, P, & Oviatt, B. 2000. International entrepreneurship: The intersection of two research
paths. Academy of Management Journal, 43: 902-906.
Oviatt, B. & McDougall, P. 1994. Toward a theory of international new ventures. Journal of
International Business Studies, 25: 45-64.
Shrader, R., Oviatt, B. & McDougall, P. 2000. How new ventures exploit trade-off among
internationalization risk factors: Lessons for the accelerated internationalization of the 21st century.
Academy of Management Journal, 43: 1227-1247.
April 24 Additional Topics: International Entrepreneurship (cont’d), Franchising, and
Busenitz, L., Gomez, C., & Spencer, J. 2000. Country institutional profiles: Unlocking
entrepreneurial phenomena. Academy of Management Journal, 43: 994-1003.
Shane, S. A. 1992. Why do some societies invent more than others? Journal of Business Venturing,
Zahra, S., Ireland, R., & Hitt, M. 2000. International expansion by new venture firms: International
diversity, mode of market entry, technological learning, and performance. Academy of Management
Journal, 43: 925-950.
Combs, J., & Ketchen, D. 1999. Can capital scarcity help agency theory explain franchising?
Revisiting the capital scarcity hypothesis Academy of Management Journal, 42: 196-207.
Kaufmann, P., & Dant, R. 1999. Franchising and the domain of entrepreneurship research
Journal of Business Venturing, 14: 5-16
Michael, S. 2000. Investments to create bargaining power: The case of franchising
Strategic Management Journal, 21: 497-514.
Hoy, F., Stanworth, J., & Purdy, D. 2000. An entrepreneurship slant to franchising research. In D. L.
Sexton and H. Landström (Eds.), The Blackwell Handbook of Entrepreneurship, Oxford, UK:
Blackwell Publishers Ltd., pp. 408-432.
Chua, J., Chrisman, J., & Sharma, P. 1999. Defining the family business by behavior.
Entrepreneurship Theory and Practice, 23(4): 19-39.
Hoy, F., & Verser, T. 1994. Emerging business, emerging field: Entrepreneurship and the family
firm. Entrepreneurship Theory and Practice, 19(1): 9-23.
Upton, N., Teal, E., & Felan, J. 2001. Strategic and business planning practices of fast growth family
firms. Journal of Small Business Management; 39: 60-72.
May 1 Final Paper Presentations