Towards an integrated theory of entrepreneurship

This thesis reports an ambitious approach to resolving variations between alternative studies of sustainable and unsustainable entrepreneurial behaviour. The framework involves a series of case profiles that set up a pattern of variations from the smallest start-up venture to immense transnational enterprises that have been established and extended by a single entrepreneurial family. The intention of the thesis is to develop an integrated theory of responsible entrepreneurship. Existing theories of entrepreneurship are considered from a number of perspectives to establish three underlying patterns of strategic thinking and patterns of entrepreneurial behaviour as the unit of study for a phenomenographic consideration of variations in the literatures of entrepreneurship research and the practices reported in nine case profiles. These variations enable consideration of the constructs of 'entrepreneur', 'entrepreneurship' and 'entrepreneurism' in pursuit of an integrated theory of the phenomenon of entrepreneurship. The research addressed four questions: 1. In what way is 'entrepreneurship' more than an operational description of the activities of persons designated as 'entrepreneurs'? 2. In what way is 'entrepreneurship' more than a description of the performance requirements for start-up business units and new venture formation? 3. What are the essential elements of 'entrepreneurship' at primary, secondary and tertiary levels of entrepreneurial activity? 4. Taking these questions into account, what are the elements, constructs and links that are required to establish an integrated theory of entrepreneurship? A combination of quantitative and qualitative studies describing variations in entrepreneurial behaviour from the nascent entrepreneurial start-up activity of 'necessity' and 'opportunity' entrepreneurs to the global practices of members of the world's most wealthy entrepreneurial families is reported. Contrasts in the viability and sustainability of these entrepreneurial behaviours informs consideration of Pareto optimal and Nash equilibria solutions that create the boundary condition for responses to uncertainty, risk, and turbulence addressed by Knight (1921), Schumpeter (1934), Kirzner (1973) and Ansoff (1980). 'Black box' and 'clear box' models of the phenomenon of entrepreneurship are presented that establish links between the 'individual-opportunity' nexus proposed by Shane (2003), the 'pursuit of opportunities beyond the resources that you currently control' (Stevenson, 2004) and the contextual and consequential concerns of Kao, Kao and Kao (2002). Moving from a working definition of entrepreneurship, the thesis presents 'differences that make a difference' between sustainable and unsustainable entrepreneurial behaviour to establish a more coherently integrated definition of the phenomenon of entrepreneurship. Triangulating contemporary studies of individual, small business, multinational and nation-state enterprises with historical theory, the thesis has examined visionary, altruistic and pragmatic corporate and dynastic individuals and organisations to identify the necessary elements, constructs and links between socially responsible entrepreneurship and business opportunism. These elements have been applied to the development of an integrated model of entrepreneurship from which it is proposed that entrepreneurship is better defined as: Maintenance of an independent belief system enabling patterns of strategic thinking to discover, explore and exploit opportunities that increase personal standards of living and satisfaction with life as a whole, without loss of current benefits for society generally through support for three collective mindsets: 1. Innovation, Creativity and Entrepreneurism (ICE); 2. Flexibility, Adaptiveness and Responsibleness (FAR); and 3. Readiness, Ability and Willingness (RAW) to evolve and maintain new market spaces while promoting the whealth of both individuals and society.