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| Tekijä: | Lahti, A. |
| Otsikko: | From modern microeconomics to entrepreneurial theory of evolution and learning - the substantive performance approach |
| Lehti: | Liiketaloudellinen aikakauskirja
2008 : 3, p. 362-381 |
| Asiasana: | microeconomics theories entrepreneurship learning |
| Vapaa asiasana: | performance |
| Kieli: | eng |
| Tiivistelmä: | New challenges are posed to microeconomic theories due to the rapidly expanding global economy. Today, clustered multinationals are powerful players in the global markets, investing heavily in global R&D and marketing etc. It is argued that there is a need to find a way to develop theories better accommodating entrepreneurial, innovative behaviour typical of small firms and entrepreneur-driven businesses. To overcome the discontinuity btw. the orthodox microeconomics and Schumpeterian theory of radical innovation is one of the key challenges to modern theories. The substantive performance approach is introduced in aiming to build a bridge between them. This approach suggests that the function of growth firms and start-ups can be theoretically explained by studying the interplay btw. collective and proprietary capitalism in the global markets. This dynamics is a learning process taking place btw. individuals, firms and regions. |
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