Entrepreneurial value creation: conceptualizing an exchange-based view of entrepreneurship

Michele Pinelli, Christian Lechner, Sascha Kraus, Eric Liguori
2021 Journal of Small Business and Enterprise Development  
PurposeThis paper proposes an Exchange-Based View of the value creation process. The Borrowing from marketing literature, the EBV advances that entrepreneurs and stakeholders are tied by exchange relationships, through which they co-create value by reciprocally making and realizing promises of value.Design/methodology/approachPropositions are developed and offered to advance the role of exchange in the entrepreneurial value creation process.FindingsThe authors conceptualize the enterprise as a
more » ... ystem of exchange relationships between entrepreneurs and their stakeholders, thus proposing an exchange-based view of entrepreneurship.Originality/valueSuch an account of the role of entrepreneurs and of their relationship with the stakeholders has meaningful implications for our understanding of the entrepreneurial tasks of opportunity recognition and exploitation.
doi:10.1108/jsbed-04-2021-0155 fatcat:z3puhwghyjf5nhi6uvlu2jwmp4