Abstract:

The fragmented and disconnected characteristics of entrepreneurship theory reflected in the extant literature had been identified as lack of a singular view of entrepreneurship as a concept. There are three common factors contributed to the fragmentation and disconnection of entrepreneurship theory, first factor being identified is concerning the adoption of own approach of theorising the entrepreneurship, second factor that causes fragmentation and disconnection of entrepreneurship theory could be lack of connections between different disciplines imported for theorizing entrepreneurship and third factor is lack of a common domain for entrepreneurship research.

Therefore, this paper seeks to address the fragmented and disconnected characteristics of entrepreneurship theory by searching the intrinsic values and composition of a singular view of entrepreneurship as a body of conceptualised knowledge. These values had been identified through reviewing theories and models of entrepreneurship in the literature. It theorised entrepreneurship as a system of discipline-neutral knowledge composed of opportunity for value creation, resources accessibility and institutional change. By applying the theories of dynamic choice and team reasoning.

Meanwhile, this paper also extended the dimensions of entrepreneur posits in the Timmon’s model of entrepreneurial process to include team entrepreneurship. Thereby, Timmon’s model of entrepreneurial process has been amended to accommodate both team and individual entrepreneurship.

However, the limitation of this study is scoped by the theoretical framework it uses. The outcomes could be arose from the issue of generalizing the study outcomes, because the new theoretical perspective of entrepreneurship was developed through reviewing a handful of theories and models of entrepreneurship only. Thus, it may be not suitable to accommodate other entrepreneurial endeavors.

Thus, we suggest that as a way to generalise the new theoretical perspective of entrepreneurship, the intrinsic values of a singular view of entrepreneurship as a body of conceptualised knowledge should be further explored. The future study may find it useful to examine the basic elements of entrepreneurial process beyond Timmon’s model of entrepreneurial process.

Keywords:

Entrepreneurship, intrinsic value, dynamic choice, institutional change.