Turning Lead into Gold: How Do Entrepreneurs Mobilize Resources to Exploit Opportunities?

Clough, David R.; Fang, Tommy Pan; Vissa, Balagopal; Wu, Andy

doi:10.5465/annals.2016.0132

Cited by 264 publications

(229 citation statements)

References 12 publications

Supporting

Mentioning

220

Contrasting

Unclassified

Order By: Relevance

“…Prior entrepreneurship research shows that entrepreneurs' social networks are important for performance (Stam et al, 2014) because they provide access to valuable resources (Clough et al, 2019). One important resource exchange in social network is social support, including information support and emotional support (encouragement, empathy, closeness, etc.)…”

Section: Looking Outside: Reconnecting and Alleviating Through Emotiomentioning

confidence: 99%

Revising entrepreneurial action in response to exogenous shocks: Considering the COVID-19 pandemic

Giones

Brem

Pollack

et al. 2020

Journal of Business Venturing Insights

226

202

View full text Add to dashboard Cite

With regards to the ongoing impact of the COVID-19 pandemic in the domain of entrepreneurship, we offer research-based evidence and associated insights focused on three perspectives (i.e., business planning, frugality, and emotional support) regarding entrepreneurial action under an exogenous shock. Beyond the initial emergency response that countries around the world have taken, we argue that it is time to revise entrepreneurial action guidance in such a context. Our aim is to highlight ways that entrepreneurs can take action in light of the current COVID-19 pandemic. We position our insights to be relevant to both researchers and practitioners coping with an unprecedented situation that has catastrophic consequences both economically and socially. 1. Research context The COVID-19 outbreak began with the first reporting of an unknown virus in December 2019. Within months, the outbreak had become a global crisis affecting the world both economically and socially. By March 2020, the World Health Organization (WHO) had declared the COVID-19 outbreak a pandemic. The absence of short-term medical responses to the virus (either as vaccines or treatments) has necessitated the use of lockdowns and social distancing restrictions as government tools to reduce the transmission of the virus across the population. However, the lockdowns (including, in some cases, the introduction of border controls and/or travel bans) have triggered an economic activity disruption that does not resemble any such prior demand or supply crisis. Beyond the temporal freeze of activity, there are growing concerns about the long-term effects originating with the need for lockdown protocol extensions (increasing its total duration and impact), as well as on the need to sustain behavioral rules such as social distancing to reduce the risk of new contagions. While the crisis affects all types of economic activity, the public support programs tend to prioritize and protect established organizations. And, unfortunately, the priority for the public institutions seems to be to reduce the risk of bankruptcies and destruction of * Corresponding author.

show abstract

Section: Looking Outside: Reconnecting and Alleviating Through Emotiomentioning

confidence: 99%

Revising entrepreneurial action in response to exogenous shocks: Considering the COVID-19 pandemic

Giones

Brem

Pollack

et al. 2020

Journal of Business Venturing Insights

226

202

View full text Add to dashboard Cite

show abstract

“…Entrepreneurial bricolage implies a constructivist approach (Baker & Nelson, 2005;Clough et al, 2019), embodied by the entrepreneur's subjective perception and interpretation of objects in their immediate spatial context, as resources. Accordingly, we explored the entrepreneurs' resourcing behaviour from an interpretivist stance (Schwandt, 2000;Tracy, 2013).…”

Section: Approachmentioning

confidence: 99%

“…In the context of spatial bricolage, resource transfer is about how an additional actor assumes interest in and responsibility for a resource. Clough et al (2019) explain resource transfer as a mechanism allowing resource owners to mitigate opportunistic behaviour by resource users. Conversely, our findings indicate that the entrepreneurs regularly seek contact with landowners.…”

Section: Resource Transfermentioning

confidence: 99%

“Making do” in rural tourism: the resourcing behaviour of tourism micro-firms

Yachin

İoannides

2020

Journal of Sustainable Tourism

View full text Add to dashboard Cite

We propose entrepreneurial bricolage as a framework that enables the description, explanation and exploration of the modus operandi of tourism micro-firms. Particularly, the notion of spatial bricolage constitutes fertile ground for further research and theoretical advances of sustainable tourism entrepreneurship. The potential for rural tourism development is conditioned by entrepreneurs' capability to utilise local physical and non-material resources sustainably. Thus, knowledge about the resourcing behaviour of micro-firms is paramount to understanding their role in promoting sustainable tourism. This study explores how rural micro-firms interact with their spatial environment to design tourism value propositions. Our analysis is based on interviews with eighteen owners-managers of tourism micro-firms in rural Sweden. We portray spatial bricolage as a resourcing behaviour that builds on the re-interpretation of existing resources, the unique features of the destination and community involvement. The findings suggest that resource transfer facilitates sustainable development since it enables long-term planning and validates the entrepreneurs' operation. Moreover, their small-scale enables rural tourism firms to utilise local resources in nonexploitative ways that minimise disturbance for other stakeholders.

show abstract

“…Entrepreneurial resource mobilization is "a process by which entrepreneurs assemble the resources used to execute on an opportunity" (Clough, Fang, Bala Vissa, & Wu, 2019, p. 1). This process often occurs in three distinct stagessearch, access, and transfer of resources-and includes both tangible and intangible resources that are conceptually grouped under financial capital, human capital, and social capital (Clough et al, 2019;Florin, Lubatkin, & Schulze, 2003;Putnam, 2001). Financial capital includes the cash or credit invested; human capital comprises the skills, knowledge, and experience of the founding members; and social capital consists of all pre-existing connections, networks, and interorganizational ties that entrepreneurs accumulate over time.…”

Section: Resource Mobilization: Bricolage Versus Jugaadmentioning

confidence: 99%

“…Specifically, ESA helps capture the temporal relationship between events and uncovers the nuances of consequential actions taken by social entrepreneurs. The application of ESA as a processual approach, in conjunction with inductive multiple-case study, opens new avenues for investigating resource mobilization processes from a dynamic, long-term perspective (Clough et al, 2019).…”

Section: Contributionsmentioning

confidence: 99%

Managing dilemmas of resource mobilization throughjugaad: Amulti‐methodstudy of social enterprises in Indian healthcare

Agarwal

Chakrabarti

Prabhu

et al. 2020

Strategic Entrepreneurship

View full text Add to dashboard Cite

Research Summary This study focuses on the dilemmas that social entrepreneurs encounter and the practices used to manage dilemmas over time. Using a multi‐method approach involving event structure analysis and an inductive multiple case study, we find that four key organizational practices—asset multiplication, leveraging human capital, building social embeddedness, and affordable quality—embody the jugaad elements of frugality and inclusivity. Adding to the social entrepreneurship literature, this study demonstrates that the jugaad approach is conceptually distinct from bricolage and relevant to the study of social enterprises' resource mobilization processes. Managerial Summary How do social enterprises encounter and manage dilemmas over time in emerging markets? The present study responds to this question, finding that social entrepreneurs mobilize resources and overcome dilemmas using the practices of jugaad, the “Indian method” of problem‐solving. These jugaad practices can be used to build and allocate resources and create trade‐offs among the jugaad elements of frugality and inclusivity. Based on our results, we recommend that social entrepreneurs pay close attention to how to proceduralize human assets, which would allow these entrepreneurs to build training systems that are highly task‐focused and replicated across functions. We also encourage social entrepreneurs to work in rural markets and seek wider resource pools within these markets by building social embeddedness in rural communities.

show abstract

Turning Lead into Gold: How Do Entrepreneurs Mobilize Resources to Exploit Opportunities?

Cited by 264 publications

References 12 publications

Revising entrepreneurial action in response to exogenous shocks: Considering the COVID-19 pandemic

Revising entrepreneurial action in response to exogenous shocks: Considering the COVID-19 pandemic

“Making do” in rural tourism: the resourcing behaviour of tourism micro-firms

Managing dilemmas of resource mobilization throughjugaad: Amulti‐methodstudy of social enterprises in Indian healthcare

Contact Info

Product

Resources

About