Emerging Theories of Entrepreneurial Behavior in Uncertain and Resource Constrained Environments

In the contemporary turbulent and constantly changing economic environments, it is difficult to predict the outcomes of an action and thus plan the societal, organizational end entrepreneurial goals beforehand. Certainly for a reason, in recent years, several different perspectives describing entrepreneurial behavior in uncertain and resource constrained environments have come to challenge the more traditional business plan- oriented, and goal - based perspectives in entrepreneurship. These theories explain “creative process in general and entrepreneurship in particular” (Sarasvathy 2008) and “shed light on the processes by which firms generate heterogeneous value from ostensibly identical resources” (Baker & Nelson 2005) as well as to how “to create innovative solutions within structural constraints using limited resources and imaginative problem solving” (Lampel, Honig & Drori 2014). Miner & Moorman (1998) and Miner, Bassof & Moorman (2001) also link improvisation closely to organizational learning, hen...