New Venture Creation: Controversial Perspectives and Theories
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Abstract
New venture creation is a hot topic and different scholars tried to shed light on this fascinating research subject. Despite the vast body of existing literature, there is little consensus about which theoretical perspectives and theories are best suited for describing and explaining the phenomenon. One of the most controversial topics is that “whether this phenomenon could be considered as a process or not?” This paper presents the existing views and theories on new venture creation, and tries to answer the mentioned question. To do so, Moroz and Hindle’s (2012) distinguished views are used. Finally, the paper concludes with some suggestions and remarks. The main contribution of this paper is to criticize the existing perspectives and theories, to categorize them, and to present a more comprehensible view of the phenomenon.
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References
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Becker, Alexander, Dodo zu Knyphausen–Aufseß, and Alexander Brem. 2015. “Beyond traditional developmental models: A fresh perspective on entrepreneurial new venture creation.” International Journal of Entrepreneurial Venturing. 7(2): 152-172.
Bhave. Mahesh P. 1994. “A process model of entrepreneurial venture creation.” Journal of business venturing, 9(3): 223-242.
Campbell, Jeffrey R., and Mariacristina De Nardi. 2009. “A conversation with 590 nascent entrepreneurs.” Annals of Finance, 5(3-4): 313-340.
Cardon, Melissa S., Christopher E. Stevens, and D. Ryland Potter. 2011. “Misfortunes or mistakes?: Cultural sensemaking of entrepreneurial failure.” Journal of Business Venturing, 26(1): 79-92.
Carter, Nancy M., William B. Gartner, and Paul D. Reynolds. 1996. “Exploring start-up event sequences.” Journal of Business Venturing, 11(3): 151–166.
Davidsson, Per, and Scott R. Gordon. 2012. “Panel studies of new venture creation: a methods-focused review and suggestions for future research.” Small Business Economics, 39(4): 853-876.
Deakins, David. and Geoff Whittam. 2000. Business Start-Up: theory, practice and policy. In Enterprise and Small Business Principles, Practice and Policy, eds. S.Carter & D. Jones-Evans, 115-131. UK: Prentice-Hall.
Delmar, Frédéric, and Scott Shane. 2004. “Legitimating first: Organizing activities and the survival of new ventures.” Journal of Business Venturing, 19(3): 385-410.
Dimov, Dimo. 2010. “Nascent entrepreneurs and venture emergence: Opportunity confidence, human capital, and early planning.” Journal of Management Studies, 47(6): 1123-1153.
Evers, Natasha. 2003. “The Process and Problems of Business Start-Ups.” ITB Journal, 17.
Gartner, William. B. 1985. “A conceptual framework for describing the phenomenon of new venture creation.” Academy of Management Review, 10(4): 694-706.
Grimaldi, Rosa, and Alessandro Grandi. 2005. “Business incubators and new venture creation: an assessment of incubating models.” Technovation, 25(2): 111-121.
Hannan, Michael T., and John Freeman. 1977. “The population ecology of organizations.” American journal of sociology, 82(5): 929-964.
Haugh, Helen. 2007. “Community‐led social venture creation.” Entrepreneurship Theory and Practice, 31(2): 161-182.
Katz, Jerome. and William B. Gartner. 1988. “Properties of Emerging Organisation.” Academy of Management Review, 13: 429-441.
Kuratko, Donald F., Michael H. Morris, and Minet Schindehutte. 2015. “Understanding the dynamics of entrepreneurship through framework approaches.” Small Business Economics, 45(1): 1-13.
Larson, Andrea, and Jennifer A. Starr. 1993. “A network model of organisation formation.” Entrepreneurship Theory and Practice, 17(2): 5-16.
Lester, Donald L., John A. Parnell, and Shawn Carraher. 2003. “Organizational life cycle: A five-stage empirical scale.” The International Journal of Organizational Analysis, 11(4): 339-354.
Lim, Sirirat Sae, Ken Platts, and Tim Minshall. 2008. An exploratory study on manufacturing strategy formulation in start-up companies. Cambridge: Springer.
Moroz, Peter W., and Kevin Hindle. 2012. "Entrepreneurship as a process: Toward harmonizing multiple perspectives." Entrepreneurship Theory and Practice 36(4): 781-818.
Núñez, Liyis Gómez. 2007. “The process and problems of business Start-Ups.” Pensamiento y gestión: revista de la División de Ciencias Administrativas de la Universidad del Norte, 22: 232-255.
Padgett, John F., and Walter W. Powell. 2012. The emergence of organizations and markets. Princeton University Press.
Parker, Simon. 2006. The life cycle of entrepreneurial ventures (Vol. 3). Springer Science & Business Media.
Salamzadeh, Aidin. 2015. Innovation Accelerators: Emergence of Startup Companies in Iran. In 60th Annual ICSB World Conference June, Dubai: UAE.
Salamzadeh, Aidin, and Hiroko Kawamorita. 2016. “The enterprising communities and startup ecosystem in Iran.” Journal of Enterprising Communities, forthcoming.
Samuelsson, Mikael, and Per Davidsson. 2009. “Does venture opportunity variation matter? Investigating systematic process differences between innovative and imitative new ventures.” Small Business Economics, 33(2): 229-255.
Sarasvathy, Saras. D. 2001. Effectual reasoning in entrepreneurial decision making: Existence and bounds. Academy of management best papers proceedings 2001, ENT: D1–D6.
Sarasvathy, Saras. D. 2006. Effectuation: Elements of entrepreneurial expertise. Cheltenham, U.K.: Edward Elgar.
Schumpeter, Joseph. A. 1912. The Theory of Economic Development. Leipzig: Duncker and Humblot.
Schumpeter, Joseph. A. 1934. The theory of economic development: An inquiry into profits, capital, credit, interest, and the business cycle (Vol. 55). Transaction publishers.
Serarols Carlos. 2008. “The process of business start-ups in the internet: a multiple case study.” International Journal of Technology Management, 43 (1-3): 142-159.
Shane, Scott., and Sankaran Venkataraman. 2000. “The promise of entrepreneurship as a field of research.” Academy of management review, 25(1): 217-226.
Storey, David. 1994. Understanding the small business sector. London: Routledge.
Timmons, Jeffry A., and Stephen Spinelli. 1994. New venture creation: Entrepreneurship for the 21st century (Vol. 4). Burr Ridge, IL: Irwin.
Van de Ven, Andrew H., Roger Hudson, and Dean M. Schroeder. 1984. “Designing New Business Startups: entrepreneurial, organisational and ecological considerations.” Journal of Management, 10: 87-107.
Veciana, José Maria. 1988. “Empresari I process de creacio d’empreses.” Revista Economica de Catalunya, num.8. May-August.
Vesper, Karl. H. 1990. New Venture Strategies, 2nd ed. Englewood Cliffs, NJ: Prentice Hall.
Aldrich. Howard E. 2000. Organisations Evolving. Cambridge: Sage Publications.
Becker, Alexander, Dodo zu Knyphausen–Aufseß, and Alexander Brem. 2015. “Beyond traditional developmental models: A fresh perspective on entrepreneurial new venture creation.” International Journal of Entrepreneurial Venturing. 7(2): 152-172.
Bhave. Mahesh P. 1994. “A process model of entrepreneurial venture creation.” Journal of business venturing, 9(3): 223-242.
Campbell, Jeffrey R., and Mariacristina De Nardi. 2009. “A conversation with 590 nascent entrepreneurs.” Annals of Finance, 5(3-4): 313-340.
Cardon, Melissa S., Christopher E. Stevens, and D. Ryland Potter. 2011. “Misfortunes or mistakes?: Cultural sensemaking of entrepreneurial failure.” Journal of Business Venturing, 26(1): 79-92.
Carter, Nancy M., William B. Gartner, and Paul D. Reynolds. 1996. “Exploring start-up event sequences.” Journal of Business Venturing, 11(3): 151–166.
Davidsson, Per, and Scott R. Gordon. 2012. “Panel studies of new venture creation: a methods-focused review and suggestions for future research.” Small Business Economics, 39(4): 853-876.
Deakins, David. and Geoff Whittam. 2000. Business Start-Up: theory, practice and policy. In Enterprise and Small Business Principles, Practice and Policy, eds. S.Carter & D. Jones-Evans, 115-131. UK: Prentice-Hall.
Delmar, Frédéric, and Scott Shane. 2004. “Legitimating first: Organizing activities and the survival of new ventures.” Journal of Business Venturing, 19(3): 385-410.
Dimov, Dimo. 2010. “Nascent entrepreneurs and venture emergence: Opportunity confidence, human capital, and early planning.” Journal of Management Studies, 47(6): 1123-1153.
Evers, Natasha. 2003. “The Process and Problems of Business Start-Ups.” ITB Journal, 17.
Gartner, William. B. 1985. “A conceptual framework for describing the phenomenon of new venture creation.” Academy of Management Review, 10(4): 694-706.
Grimaldi, Rosa, and Alessandro Grandi. 2005. “Business incubators and new venture creation: an assessment of incubating models.” Technovation, 25(2): 111-121.
Hannan, Michael T., and John Freeman. 1977. “The population ecology of organizations.” American journal of sociology, 82(5): 929-964.
Haugh, Helen. 2007. “Community‐led social venture creation.” Entrepreneurship Theory and Practice, 31(2): 161-182.
Katz, Jerome. and William B. Gartner. 1988. “Properties of Emerging Organisation.” Academy of Management Review, 13: 429-441.
Kuratko, Donald F., Michael H. Morris, and Minet Schindehutte. 2015. “Understanding the dynamics of entrepreneurship through framework approaches.” Small Business Economics, 45(1): 1-13.
Larson, Andrea, and Jennifer A. Starr. 1993. “A network model of organisation formation.” Entrepreneurship Theory and Practice, 17(2): 5-16.
Lester, Donald L., John A. Parnell, and Shawn Carraher. 2003. “Organizational life cycle: A five-stage empirical scale.” The International Journal of Organizational Analysis, 11(4): 339-354.
Lim, Sirirat Sae, Ken Platts, and Tim Minshall. 2008. An exploratory study on manufacturing strategy formulation in start-up companies. Cambridge: Springer.
Moroz, Peter W., and Kevin Hindle. 2012. "Entrepreneurship as a process: Toward harmonizing multiple perspectives." Entrepreneurship Theory and Practice 36(4): 781-818.
Núñez, Liyis Gómez. 2007. “The process and problems of business Start-Ups.” Pensamiento y gestión: revista de la División de Ciencias Administrativas de la Universidad del Norte, 22: 232-255.
Padgett, John F., and Walter W. Powell. 2012. The emergence of organizations and markets. Princeton University Press.
Parker, Simon. 2006. The life cycle of entrepreneurial ventures (Vol. 3). Springer Science & Business Media.
Salamzadeh, Aidin. 2015. Innovation Accelerators: Emergence of Startup Companies in Iran. In 60th Annual ICSB World Conference June, Dubai: UAE.
Salamzadeh, Aidin, and Hiroko Kawamorita. 2016. “The enterprising communities and startup ecosystem in Iran.” Journal of Enterprising Communities, forthcoming.
Samuelsson, Mikael, and Per Davidsson. 2009. “Does venture opportunity variation matter? Investigating systematic process differences between innovative and imitative new ventures.” Small Business Economics, 33(2): 229-255.
Sarasvathy, Saras. D. 2001. Effectual reasoning in entrepreneurial decision making: Existence and bounds. Academy of management best papers proceedings 2001, ENT: D1–D6.
Sarasvathy, Saras. D. 2006. Effectuation: Elements of entrepreneurial expertise. Cheltenham, U.K.: Edward Elgar.
Schumpeter, Joseph. A. 1912. The Theory of Economic Development. Leipzig: Duncker and Humblot.
Schumpeter, Joseph. A. 1934. The theory of economic development: An inquiry into profits, capital, credit, interest, and the business cycle (Vol. 55). Transaction publishers.
Serarols Carlos. 2008. “The process of business start-ups in the internet: a multiple case study.” International Journal of Technology Management, 43 (1-3): 142-159.
Shane, Scott., and Sankaran Venkataraman. 2000. “The promise of entrepreneurship as a field of research.” Academy of management review, 25(1): 217-226.
Storey, David. 1994. Understanding the small business sector. London: Routledge.
Timmons, Jeffry A., and Stephen Spinelli. 1994. New venture creation: Entrepreneurship for the 21st century (Vol. 4). Burr Ridge, IL: Irwin.
Van de Ven, Andrew H., Roger Hudson, and Dean M. Schroeder. 1984. “Designing New Business Startups: entrepreneurial, organisational and ecological considerations.” Journal of Management, 10: 87-107.
Veciana, José Maria. 1988. “Empresari I process de creacio d’empreses.” Revista Economica de Catalunya, num.8. May-August.
Vesper, Karl. H. 1990. New Venture Strategies, 2nd ed. Englewood Cliffs, NJ: Prentice Hall.