Evaluating the Economic Returns to Entrepreneurial Behaviour

Abstract

This research study also identifies 4 entrepreneurial firm capabilities that include: alertness, subjective judgment, dispersal ability and risk-taking. These capabilities were simulated using an agent-based model and experiments were run to examine their effect on firm performance over time and across different types of strategic landscapes. Furthermore, to inform the dynamics of firm behavior and the spatial elements of this model, an ecological metaphor of organizations was introduced that utilized concepts from community ecology and biogeography. The results of these experiments highlight the need for firms to develop entrepreneurial capabilities to succeed in the new competitive environment.