Entrepreneurial Epistemologies and Design-to-Market Modelling: A Latitudinal Discussion
This research proposes a conceptual approach, based on classical and neo-classical theories, to develop marketing strategies for SUEs based on design-to-market approach. This study significantly contributes to the existing literature by linking entreprene
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Entrepreneurial Epistemologies and Design-to-Market Modelling: A Latitudinal Discussion Ananya Rajagopal
Introduction The start-up enterprises (SUEs) tend to maintain a posture of strategy development and implementation by means of maintaining an equilibrium between the market exploitation and exploration (Lee and Kreiser 2018). In this equilibrium, SUEs orient their unique selling proposition to satisfy the needs of ambidextrous (B2B and B2C) market segments. Though theories in entrepreneurship focus on capitalistic models such as profit, acquisitions, technology, and innovation; these enterprises, in reality, are based on developing design-to-market innovative products and services and consumer education (Stewart et al. 2016). Entrepreneurial research on this subject has evolved over prominent entrepreneurial theories that address entrepreneurial knowledge, market ecosystem, economic growth,
A. Rajagopal (B) Business and Economics Department, Universidad Anáhuac México, Mexico City, Mexico e-mail: [email protected] © The Author(s) 2021 Rajagopal and R. Behl (eds.), Entrepreneurship and Regional Development, https://doi.org/10.1007/978-3-030-45521-7_6
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creativity, and continuous learning platforms to support entrepreneurial dynamics (Rajagopal 2020). In the classical school of thought, Marshall (1948), emphasizes that entrepreneurship is based on the synergy of capital-labor cohesive economic theory. Marshall also discusses the pattern of consumer preferences and technology innovations for accelerating the entrepreneurial productivity. Marshallian theory critically reviews the role of economic environment toward entrepreneurship development. The theory outlines the importance of enterprise management during the stage of market uncertainty and consumer dynamism. Although it is a classical contribution of the theory, such situations affect the entrepreneurial growth in the contemporary economic environment. Taking into consideration the foundations laid by Marshall’s classical school of thought, the attention-based-view (ABV) of a firm outlined by Hambrick and Mason (1984) emphasizes that the decision-makers of SUEs lay their attention on myopic issues leading to an impact on the strategic choices of the firm. Limitations in the economic and human resources of a SUE are attributed to the myopic vision of the decision-makers leading to the bigoted strategies that hinder the organizational growth process (Stea et al. 2015). Schumpeter (1991) argues that entrepreneur is a pivot to mobilize new business by developing new products or to make existing products in a new perspective. Therefore, entrepreneurship, in context of a dynamic marketplace, may be considered as creativity and as a creative disruption to pave the path for new products. Schumpeter defines entrepreneur as an economic entity, who takes over the center stage of socioeconomic development and evolves against organized competition by exhibiting his creative abilities and innovative differentiation (Rajagopal 2020). Schumpe
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