Wednesday, March 14, 2012

Organizing Entrepreneurial Judgment

A brand new book developing the theories of entrepreneurship and the firm, Organizing Entrepreneurial Judgment: A New Approach to the Firm, sounds like on of the most promising books on these topics in quite some time. You can watch the book's authors, Nicolai Foss and Peter Klein discuss the contents of the book in this video recorded a few days ago at the Austrian Scholars Conference.

Below is a description of the book from the publisher:
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.

No comments:

Post a Comment