Organizing Entrepreneurial Judgment

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Organizing Entrepreneurial Judgment

By Nicolai J. Foss; Peter G. Klein

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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.

Subject: Business & Economics -> Decision Sciences -> Management Science

Organizing Entrepreneurial Judgment
A New Approach to the Firm
1st edition
Publisher: Cambridge University Press 3/1/12
Imprint: Cambridge University Press
Language: English

ISBN 10: 1139234234
ISBN 13: 9781139234238
Print ISBN: 9780521874427

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