Critical realism based entrepreneurial action theory

Marko Forsell, Kaarlo Paloniemi

Research output: Chapter in Book/Report/Conference proceedingConference contributionAcademic

37 Downloads (Pure)


We propose to use critical realism as the basis for ontology and epistemology in entrepreneurship research. Further, we argue that the teleology of entrepreneurship is value creation. Based on these assumptions we propose that an essential part of the entrepreneurial process is the creation of a business model that shows conceptually how the value will be created. This model can be categorized in three different categories along with the value system continuum: stable value system, redefined value system and emerging value system. We propose an entrepreneurial value creation framework that describes elements that are essential to the value creation.
Original languageEnglish
Title of host publicationProceedings of the 18th Annual High Technology Small Firms Conference and Doctoral Workshop 2010
EditorsGloria Rossini
Place of PublicationEnschede
PublisherUniversity of Twente
Number of pages19
ISBN (Print)9789036530316
Publication statusPublished - 2010
Externally publishedYes
Event18th Annual High Technology Small Firms Conference, HTSF 2010 - University of Twente, Enschede, Netherlands
Duration: 27 May 201028 May 2010
Conference number: 18


Conference18th Annual High Technology Small Firms Conference, HTSF 2010
Abbreviated titleHTSF


Dive into the research topics of 'Critical realism based entrepreneurial action theory'. Together they form a unique fingerprint.

Cite this