Innovations, Stakeholders & Entrepreneurship |
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Authors: | Nicholas Dew Saras D Sarasvathy |
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Institution: | (1) Naval Postgraduate School, 1 University Circle, 1 Dyer Place, Monterey, CA, 93943, U.S.A;(2) Darden Graduate School of Business Administration, University of Virginia, PO Box 6550, Charlottesville, VA, 22906, U.S.A |
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Abstract: | In modern societies entrepreneurship and innovation are widely seen as key sources of economic growth and welfare increases.
Yet entrepreneurial innovation has also meant losses and hardships for some members of society: it is destructive of some
stakeholders’ wellbeing even as it creates new wellbeing among other stakeholders. Both the positive benefits and negative
externalities of innovation are problematic because entrepreneurs initiate new ventures before their private profitability
and/or social costs can be fully recognized. In this paper we consider three analytical frameworks within which these issues
might be examined: pre-commitments, contractarianism, and an entrepreneurial framework. We conclude that the intersection
of stakeholder theory and entrepreneurial innovation is a potentially rich arena for research.
Nicholas Dew, Ph.D. is an assistant professor at the Naval Postgraduate School in Monterey, CA. He teaches strategic management
in private and public sector organizations. His research interests include entrepreneurship, strategy and innovation. He has
published in several scholarly journals, including Strategic Management Journal, the Journal of Business Venturing, Industrial and Corporate Change and the Journal of Evolutionary
Economics.
Saras D. Sarasvathy, Ph.D. is an associate professor at the Darden Graduate School of Business Administration. She teaches
courses in entrepreneurship and ethics in Darden's MBA and doctoral programs. Her research focuses on the cognitive basis
for high-performance entrepreneurship. She has published in various scholarly journals, including the Academy of Management Review, Strategic Management Journal, the Journal of Businesss Venturing and the Journal of Evolutionary
Economics. Her first book Effectuation: Elements of Entrepreneurial Expertise was recently published by Edward Elgar. |
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Keywords: | effectuation entrepreneurship innovation stakeholder |
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