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Organizing Entrepreneurial Judgment

Organizing Entrepreneurial Judgment
A New Approach to the Firm

$115.00 (P)

Award Winner
  • Date Published: April 2012
  • availability: In stock
  • format: Hardback
  • isbn: 9780521874427

$115.00 (P)
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About the Authors
  • Entrepreneurship, long neglected by economists and management scholars, has made a dramatic comeback in the last two decades, not only among academic economists and management scholars, but also among policymakers, educators and practitioners. Likewise, the economic theory of the firm, building on Ronald Coase's (1937) seminal analysis, has become an increasingly important field in economics and management. Despite this resurgence, there is still little connection between the entrepreneurship literature and the literature on the firm, both in academia and in management practice. This book fills this gap by proposing and developing an entrepreneurial theory of the firm that focuses on the connections between entrepreneurship and management. Drawing on insights from Austrian economics, it describes entrepreneurship as judgmental decision made under uncertainty, showing how judgment is the driving force of the market economy and the key to understanding firm performance and organization.

    • An important contribution to our understanding of entrepreneurship and the economics of the firm that draws heavily on Austrian economics
    • Provides useful introductions to research on entrepreneurship and the economics of the firm that are suitable for use in graduate or advanced undergraduate courses
    • Management scholars and practitioners uncomfortable or unfamiliar with mathematics will find the book engaging and accessible as it avoids the use of formal mathematics and graphs
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    Awards

    • Winner of the 2014 FEE Prize for the Best Book in Austrian Economics

    Reviews & endorsements

    'It is about time entrepreneurship came into its own within economics, moving out of the mystical shadows of creative destruction and the magical imagination of the attentive entrepreneur into the more mundane and tractable reality unfolding in our empirical work. The actual content of entrepreneurial judgment has far reaching implications not only for theories of the firm, but more generally for economic organization. In this book, Foss and Klein have turned the corner on research (or lack thereof) into this important topic.' Saras Sarasvathy, Isadore Horween Research Associate Professor, University of Virginia

    'This is a path breaking book. Foss and Klein connect the growing entrepreneurship literature with the rich theories of the organization. It offers important rich and original insights that will undoubtedly revise long held views of entrepreneurship in organizations and how managers make judgments about entrepreneurial initiatives. Well written and grounded in solid research, the book will surely inspire and enrich future scholarship.' Shaker A. Zahra, Department Chair, Robert E. Buuck Chair, and Professor of Strategic and Organization, Carlson School of Management, University of Minnesota

    'Organizing Entrepreneurial Judgment is a massive undertaking, and one that ambitiously spans the unnecessary divide between management studies and economics literature. For the scholar seriously contemplating exploiting this gap further, the book is highly recommended.' International Entrepreneurship and Management Journal

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    Product details

    • Date Published: April 2012
    • format: Hardback
    • isbn: 9780521874427
    • length: 312 pages
    • dimensions: 234 x 156 x 18 mm
    • weight: 0.62kg
    • contains: 3 b/w illus.
    • availability: In stock
  • Table of Contents

    List of figures
    Preface
    Acknowledgements
    1. The need for an entrepreneurial theory of the firm
    2. What is entrepreneurship?
    3. Entrepreneurship: from opportunity discovery to judgment
    4. What is judgment?
    5. From shmoo to heterogeneous capital
    6. Entrepreneurship and the economic theory of the firm
    7. Entrepreneurship and the nature and boundaries of the firm
    8. Internal organization: original and derived judgment
    9. Concluding discussion
    References.

  • Instructors have used or reviewed this title for the following courses

    • Entrepreneurship
  • Authors

    Nicolai J. Foss, Copenhagen Business School
    Nicolai J. Foss is Professor of Strategy and Organization at the Copenhagen Business School and Professor of Knowledge-based Value Creation at the Norwegian School of Economics and Business Administration. He also holds a number of part-time and visiting professorships at other European universities.

    Peter G. Klein, University of Missouri, Columbia
    Peter G. Klein is Associate Professor of Applied Social Sciences and Director of the McQuinn Center for Entrepreneurial Leadership at the University of Missouri. He also holds positions at the University of Missouri's Truman School of Public Affairs and the Norwegian School of Economics and Business Administration.

    Awards

    • Winner of the 2014 FEE Prize for the Best Book in Austrian Economics

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