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Advancing Theory in Entrepreneurship from the Lens of Operations Management
Author(s) -
Phan Phillip,
Chambers Chester
Publication year - 2013
Publication title -
production and operations management
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 3.279
H-Index - 110
eISSN - 1937-5956
pISSN - 1059-1478
DOI - 10.1111/j.1937-5956.2011.01306.x
Subject(s) - entrepreneurship , parallels , flexibility (engineering) , development theory , management science , computer science , new product development , austrian school , management theory , development (topology) , quality (philosophy) , economics , knowledge management , sociology , management , neoclassical economics , operations management , epistemology , mathematics , philosophy , finance , market economy , mathematical analysis
Early writings in economics describe the entrepreneur's role in terms of bearing the uncertainty inherent in new undertakings. Much of the research published in the pages of P roduction and O perations M anagement deals with management under uncertainty. The shared concerns over the impacts of multiple types of uncertainty suggest that research on O perations M anagement ( OM ) can play a role in the development of theory in entrepreneurship. We discuss aspects of such a role from two perspectives. First, we consider several topics in the OM literature that have clear applications or parallels in entrepreneurship. These topics include innovation, the management of technology, new product development, flexibility, and hedging strategies. Understanding these topical connections should aid in the development of tools and applications central to the practice of entrepreneurship. On another level, when we consider how the approaches to many of these topics in OM are grounded in theory adapted from O perations R esearch and E conomics we argue that these same roots can be used as starting points for the development of theory in entrepreneurship. As examples, we will argue that the theoretical bases supporting robust optimization, stochastic dynamic programming, and even T otal Q uality M anagement can also serve as foundations of theories about the roles, practice, and behaviors of entrepreneurs.