Innovation implies newness. To define and measure innovation better, we investigated three dimensions of newness: what is new, how new, and new to whom? Drawing on prior research by Schumpeter and Kirzner, we developed a scale that addresses six areas of innovative activity: new products, new...

Purpose – This paper seeks to detail an exploratory examination of a multidimensional, creativity‐based theoretical model of opportunity recognition originally proposed by Hills et al. and later refined by Lumpkin et al. , but never empirically tested. The paper also aims to examine the...

Long-term orientation (LTO), defined as <italic>the tendency to prioritize the long-range implications and impact of decisions and actions that come to fruition after an extended time period</italic>, is a common characteristic of many family businesses. Prior research is equivocal regarding whether an LTO...

Searching for a balance between social mission and financial viability is a distinguishing feature of social business ventures. This quest might lead to complex challenges and conundrums, similar to those that arise in family businesses composed of closely intertwined systems of 'family' and...

To identify what scholars consider to be important and interesting for future research in social entrepreneurship (SE), this chapter analyzes 248 SE papers and generated 327 topics for future research. From these 327 topics, a modified Delphi process generated 27 underlying themes. Subject...

From its earliest incarnations, entrepreneurship has been linked to innovation, and often innovations with a societal or social impact. Although classical economists discussed the role entrepreneurs play in handling risk in an economy ( Hébert &amp; Link, 2009 ), perhaps the greater risks have been...

The entrepreneurs’ ability to identify opportunities can lead to wealth creation and competitive advantage. Often, however, opportunities that are innovative may defy up-front analysis suggesting that the entrepreneurs may have had somewhat inaccurate perceptions and need to refine their ideas...