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Entrepreneurial Processes as Virtuous and Vicious Spirals in a Changing Opportunity Structure: A Paradoxical Perspective

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  • Arja Ropo
  • James G. (Jerry) Hunt

Abstract

We develop the beginnings of a grounded theory of entrepreneurship based on the idea that entrepreneurship, in terms of a changing opportunity structure–-consisting of opportunity detection, opportunity facilitation and motivation to pursue opportunity–-can be viewed through a paradoxical perspective that considers the interplay of organizational and individual capabilities as virtuous and vicious spirals across time. The virtuous spiral led toward successful change because of supportive organizational and individual capabilities across time. The vicious spiral led away from successful change because of countervailing organizational and individual capabilities. Paradoxically, however, we found that entrepreneurship developed in both types of spirals. We discuss these points based on two case studies of Finnish banks and bank managers within the fundamentally changing opportunity structure of the banking business in the late 1980s.

Suggested Citation

  • Arja Ropo & James G. (Jerry) Hunt, 1995. "Entrepreneurial Processes as Virtuous and Vicious Spirals in a Changing Opportunity Structure: A Paradoxical Perspective," Entrepreneurship Theory and Practice, , vol. 19(3), pages 91-111, April.
    • Handle: RePEc:sae:entthe:v:19:y:1995:i:3:p:91-111
    DOI: 10.1177/104225879501900307
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    References listed on IDEAS

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    1. Gartner, William B., 1990. "What are we talking about when we talk about entrepreneurship?," Journal of Business Venturing, Elsevier, vol. 5(1), pages 15-28, January.
    2. Jeffrey G. Covin & Dennis P. Slevin, 1991. "A Conceptual Model of Entrepreneurship as Firm Behavior," Entrepreneurship Theory and Practice, , vol. 16(1), pages 7-26, October.
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    1. Minguzzi, Antonio & Passaro, Renato, 2001. "The network of relationships between the economic environment and the entrepreneurial culture in small firms," Journal of Business Venturing, Elsevier, vol. 16(2), pages 181-207, March.
    2. Edelman, Linda F. & Brush, Candida G. & Manolova, Tatiana, 2005. "Co-alignment in the resource-performance relationship: strategy as mediator," Journal of Business Venturing, Elsevier, vol. 20(3), pages 359-383, May.
    3. Cunha, Miguel Pina e & Rego, Arménio & Clegg, Stewart & Jarvis, Walter P., 2021. "Stewardship as process: A paradox perspective," European Management Journal, Elsevier, vol. 39(2), pages 247-259.
    4. G. Page West III & G. Dale Meyer, 1998. "Temporal Dimensions of Opportunistic Change in Technology-Based Ventures," Entrepreneurship Theory and Practice, , vol. 22(2), pages 31-52, January.
    5. Madiha Hussain & Sarmad Ejaz & Mahnoor Farooq & Qaiser Rashid Janjua & Khadija Shahzad, 2023. "The Impact of Entrepreneurship Education on Entrepreneurial Intentions Among Students in Pakistan," Journal of Policy Research (JPR), Research Foundation for Humanity (RFH), vol. 9(2), pages 495-502.
    6. Norris F. Krueger Jr., 2000. "The Cognitive Infrastructure of Opportunity Emergence," Entrepreneurship Theory and Practice, , vol. 24(3), pages 5-24, April.
    7. Benyamin M. Bergmann Lichtenstein & Candida G. Brush, 2001. "How Do “Resource Bundles†Develop and Change in New Ventures? A Dynamic Model and Longitudinal Exploration," Entrepreneurship Theory and Practice, , vol. 25(3), pages 37-58, April.
    8. Eileen Fischer & A. Rebecca Reuber & Moez Hababou & William Johnson & Steven Lee, 1998. "The Role of Socially Constructed Temporal Perspectives in the Emergence of Rapid-Growth Firms," Entrepreneurship Theory and Practice, , vol. 22(2), pages 13-30, January.
    9. Shaker A. Zahra & Daniel F. Jennings & Donald F. Kuratko, 1999. "The Antecedents and Consequences of Firm-Level Entrepreneurship: The State of the Field," Entrepreneurship Theory and Practice, , vol. 24(2), pages 45-65, December.
    10. Brush, Candida G. & Chaganti, Radha, 1999. "Businesses without glamour? an analysis of resources on performance by size and age in small service and retail firms," Journal of Business Venturing, Elsevier, vol. 14(3), pages 233-257, May.
    11. Christian Lechner & Christophe Leyronas, 2009. "Small–Business Group Formation as an Entrepreneurial Development Model," Entrepreneurship Theory and Practice, , vol. 33(3), pages 645-667, May.
    12. Minet Schindehutte & Michael H. Morris, 2009. "Advancing Strategic Entrepreneurship Research: The Role of Complexity Science in Shifting the Paradigm," Entrepreneurship Theory and Practice, , vol. 33(1), pages 241-276, January.
    13. Dean A. Shepherd & Holger Patzelt & J. Michael Haynie, 2010. "Entrepreneurial Spirals: Deviation–Amplifying Loops of an Entrepreneurial Mindset and Organizational Culture," Entrepreneurship Theory and Practice, , vol. 34(1), pages 59-82, January.
    14. Jones, Janice & Seet, Pi-Shen & Acker, Tim & Whittle, Michelle, 2021. "Barriers to grassroots innovation: The phenomenon of social-commercial-cultural trilemmas in remote indigenous art centres," Technological Forecasting and Social Change, Elsevier, vol. 164(C).

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