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  1. 1. MGT 591 DOCTORAL SEMINAR CONTEMPORARY ISSUES IN ENTREPRENEURSHIP Drs. Franz Lohrke and Lou Marino Alston 129 and 163 Alston Hall Phone: 348-8934 and 348-8946 Email: and 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 session. 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. Evaluation Criteria 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% Participation 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 extraordinary circumstances. Seminar Paper 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 talk format. Session Teacher 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.
  2. 2. Course Outline 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.
  3. 3. 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. Recommended Readings: 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: 9-30.
  4. 4. 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, 15: 253-277. 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): 107-132. 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.
  5. 5. 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. Recommended Readings: Barney, J. 1991. Firm resources and sustained competitive advantage. Journal of Management, 17: 99-120.
  6. 6. 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: 121-154. 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.
  7. 7. 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. Recommended Readings: 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, 8(3): 241-253. 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. Recommended Readings: 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.
  8. 8. 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, 74(4):100-111. 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. Recommended Readings: 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.
  9. 9. Recommended Readings: 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, 5(1): 37-47. Recommended Readings: 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.
  10. 10. 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: 951-973. 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 Family Business 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, 7: 29-46. 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. Recommended Reading: 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.
  11. 11. 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