Directions for Research, Theory-Building and Application in Entrepreneurship

Essay from the year 2020 in the subject Business economics - Company formation, Business Plans, , language: English, abstract: Current theories on entrepreneurship have tried to explore the field of entrepreneurship. However, the dynamism of the environment and technology need a new approach of researching on entrepreneurship. Based on the beliefs of the importance in the society, and in the development of a country regarding the contribution in employment creation, and economic development, entrepreneurship has got much attention in decision-makers and scholars. Diverse standpoints have been taken by researchers, and many theories have been developed. Most of the theories have focused on finding factors that may justify entrepreneurship. Some of the most influential theories have taken an economic orientation, others a social orientation or psychosocial orientation. Thus, as identified by Kwabena theories like the economic entrepreneurship theory, the psychological entrepreneurship theory, the sociological entrepreneurship theory, the anthropological entrepreneurship theory, the opportunity-based entrepreneurship theory, and the resource-based entrepreneurship theory have been developed by scholars to explain the field of entrepreneurship. These theories inspired many researches in the field of entrepreneurship all over the world. The recent orientation taken by researchers was trying to understand the factors underlying entrepreneurial intentions. This orientation was inspired by the theory of planned behavior. As in the original theory of reasoned action, a central element in the theory of planned behavior is the intention of the individual to perform a given behavior.