Firms as realizations of entrepreneurial visions

@inproceedings{Witt2005FirmsAR,
  title={Firms as realizations of entrepreneurial visions},
  author={Ulrich Witt},
  year={2005}
}
In the debate on why firms exist, the question of who chooses between firms and markets and on what basis is rarely addressed. This paper argues that the choice is a core element of the entrepreneurial pursuit of visions or conceptions of business opportunities. To successfully organize resources into the envisioned businesses – be it via firms or markets – resource owners must be coordinated on the entrepreneur’s conception of the business and be motivated to perform properly. To solve the… CONTINUE READING

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