Imagination and leadership ± The neglected dimension of an evolutionary theory of the firm
نویسنده
چکیده
Bounded rationality prevents humans from tracing all action plans that could, in principle, be imagined. In the present paper, individuals' partly socially-shaped cognitive frames explain which action plans do gain attention. This provides the basis for a new entrepreneurial theory of the firm where `business conceptions,' which underlie any entrepreneurial venture, play a key role. Coordination and motivation of the firm members can be achieved ± and opportunism be held down ± if through `cognitive leadership' the entrepreneur succeeds in implementing and defending his own business conception as a tacit cognitive frame collectively shared within the firm. # 1998 Elsevier Science B.V. JEL classi®cation: D23; L2; M2; M13; M14
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