Advancing theory in entrepreneurship from the lens of operations management

Research output: Contribution to journalArticle

Abstract

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 Production and Operations Management deals with management under uncertainty. The shared concerns over the impacts of multiple types of uncertainty suggest that research on Operations Management (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 Operations Research and Economics 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 Total Quality Management can also serve as foundations of theories about the roles, practice, and behaviors of entrepreneurs.

Original languageEnglish (US)
Pages (from-to)1423-1428
Number of pages6
JournalProduction and Operations Management
Volume22
Issue number6
DOIs
StatePublished - Nov 2013

Fingerprint

Lenses
Bearings (structural)
Total quality management
Operations research
Economics
Dynamic programming
Product development
Entrepreneurship
Operations management
Innovation
Uncertainty
Entrepreneurs

Keywords

  • entrepreneurship
  • OM research

ASJC Scopus subject areas

  • Industrial and Manufacturing Engineering
  • Management Science and Operations Research
  • Management of Technology and Innovation

Cite this

Advancing theory in entrepreneurship from the lens of operations management. / Phan, Phillip; Chambers, Chester G.

In: Production and Operations Management, Vol. 22, No. 6, 11.2013, p. 1423-1428.

Research output: Contribution to journalArticle

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