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Entrepreneurial Profit-Seeking: Socially Situating Opportunity Exploitation

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  • Gabriel A. Gim�nez-Roche

Abstract

The greatest contribution of the individual--opportunity nexus (ION) approach to entrepreneurship theory is the identification of the entrepreneurial function with the very action linking an individual to the opportunity he aims at appropriating. Nevertheless, this contribution remains incomplete, as current efforts have been mostly directed at understanding the occupational and the structural natures of the nexus components, that is, the individual and the organization of opportunity. This paper aims at further complementing the ION approach by emphasizing the actual nexus between individual and opportunity, namely, action. A praxeological approach based on methodological individualism and structurating analysis is developed to distinguish between entrepreneurial and non-entrepreneurial action according to the temporal nature of the socio-institutionally profit-seeking of agents involved with an enterprise. Entrepreneurship is therefore equated to the diachronic profit-seeking as manifest in the institutional structure of the enterprise.

Suggested Citation

  • Gabriel A. Gim�nez-Roche, 2011. "Entrepreneurial Profit-Seeking: Socially Situating Opportunity Exploitation," Industry and Innovation, Taylor & Francis Journals, vol. 18(8), pages 729-745, November.
    • Handle: RePEc:taf:indinn:v:18:y:2011:i:8:p:729-745
    DOI: 10.1080/13662716.2011.621743
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    References listed on IDEAS

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    1. Serena Sandri, 2009. "Reflexivity in Economics," Contributions to Economics, Springer, number 978-3-7908-2092-8.
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    Cited by:

    1. Pedro Monteiro & Teresa De Noronha & Paulo Neto, 2013. "A Differentiation Framework for Maritime Clusters: Comparisons across Europe," Sustainability, MDPI, vol. 5(9), pages 1-30, September.

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