The context of entrepreneurship

There is a long-standing tradition of assessing the antecedents and consequences of the role of context in entrepreneurship (Aldrich & Fiol, 1994; Autio et al., 2014; Thornton, 1999; Zahra & Wright, 2011). This Point-CounterPoint (PCP) addresses several fundament questions that lie at the core of entrepreneurship research: 1)How do entrepreneurs identify or create opportunities? 2)How do they acquireand combinethe resources requiredto exploit those opportunities? 3)How do they make judgments under conditions of risk and uncertainty? 4)How do market, institutional and intra-firm contextsenable or constrain those judgments? To address these questions, the authors of this PCPplace, first of all, entrepreneurship in distinct disciplinary contexts. Foss, Klein and Bjørnskov draw on the insights of economics to explain how organizational, institutional and market contexts shape entrepreneurial judgment. Lounsbury, Gehman and Glynn resort to the theories and concepts in the cultural entrepreneurship literature and sociology to argue that entrepreneurship is embedded in, and fundamentally shaped by, socio-cultural dynamics