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Purpose -This paper aims to assess the main sources, key propositions and empirical methods available to researchers taking a "subjectivist" perspective on the creation of opportunities by entrepreneurs. Design/methodology/approach -Subjectivist research is defined behaviourally: it emphasises the internal, mental processes and subjective meanings incorporated in entrepreneurial acts. The alertness literature is accorded special attention; it originally possessed a strong subjectivist orientation and focused on opportunity recognition. Findings -A subjectivist approach has distinct advantages: it requires researchers to observe, analyse and explain entrepreneurial creativity with reference to entrepreneurs' internal, personal interpretations of their environment. Subjectivist approaches ask: how do entrepreneurs create profit opportunities? Subjectivists extend the concept of entrepreneurial alertness to include analysis of knowledge construction processes. Research limitations/implications -Fruitful theoretical and applied subjectivist research de-emphasises entrepreneurs' exploitation of existing opportunities; knowledge construction fundamental to the genesis of creative behaviour becomes central. Practical implications -There are several empirically oriented organising frameworks available in the literature consistent with a subjectivist orientation to entrepreneurial creativity. Originality/value -This is the first attempt to assess and synthesise modern subjectivist work on the creative dimension of entrepreneurial behaviour. It identifies complementary conceptual developments on the interface between economics and psychology. Some promising empirical methods are suggested.

PurposeThis paper examines the models used to teach and encourage indigenous entrepreneurial activity, with a focus on indigenous entrepreneurship in a Maori context.Design/methodology/approachIn particular, the paper explores the pedagogical challenges from the perspective of indigenous entrepreneurship understood from a Maori context and draws on an historical and cultural analysis of kin accountability within a tribal context to explore the pedagogical challenges faced when working with a new generation of aspiring entrepreneurially‐minded Maori. Three short case studies are provided as illustrative examples.FindingsThe paper finds that entrepreneurial models focusing on opportunity‐seeking potiki (aspiring younger individuals) will likely remain limited in application until they successfully integrate the genealogical check and balance of the potiki, namely the elder‐rangatira. This rangatira: potiki customary leadership tension has been Maori society's generative survival portal to taking advantage of new opportunities (potikitanga) for 100 or more generations. The paper suggests that while Maori ventures may adequately reflect what constitutes successful commercial entrepreneurship, such ventures also need to be further developed in terms of kin‐accountability beyond current social/economic entrepreneurial thinking if they are to legitimately benefit Maori society.Originality/valueAlthough only one cultural context is examined, this paper demonstrates the potential benefit of a deeper understanding of the cultural genealogical setting when developing models to work with indigenous entrepreneurs.

Purpose -The purpose of this paper is to illustrate the importance of taking into account contextual factors when building governing mechanisms, so that the subsequent processes and structures are appropriate and sustainable. Design/methodology/approach -The paper utilises the singular case study illustration of Māori Maps, an indigenous social and entrepreneurial venture to illustrate the notion of contextualised governance. Considering this focus centres on notions of context, the case study method is most appropriate as it allows for a fuller explanation of the specific contextual factors relating to the study. Findings -In taking into account the unique contextual factors relating to Māori Maps, the paper shows that they have incorporated culturally appropriate models and processes of governance. Research limitations/implications -This context-specific case study illustration supports new governance research avenues that assert that context matters, and contributes to the body of evidence that suggests that traditional frameworks of governance cannot be applied to all organisations, with no regard being taken for varying contextual factors.Practical implications -This case study illustration may encourage other groups in similar scenarios (but with varying contextual surroundings) to develop their own innovative models of governance which suit their surroundings. Originality/value -The authors have utilised the Māori Maps case study previously in the context of innovation and entrepreneurship studies. The insights drawn from studying the intersection between governance theory and social entrepreneurship in this context are new.

This paper compares and appraises three principal, contemporary theories of entrepreneurial decision making – neoclassical, Austrian and behavioral. We employ theory appraisal criteria made available in Fritz Machlup’s (1967) celebrated article on alternative theories of the firm. The paper considers theories that treat sequences of behavior by which individual entrepreneurs reach decisions on two levels: the discovery of profit opportunities and their exploitation. We also consider how each theory characterizes the entrepreneur’s decision making process by contrast with the posited behavior of other economic agents. Austrian theory is suited to explaining novel, adventurous behavior at the discovery stage. The algorithm for opportunity exploitation in both the neoclassical and Austrian approaches is a single-repertoire, optimization rule. Neoclassical theory is situated in frictionless, atomistic Walrasian markets and emphasizes mathematical tractability. Austrian and behavioral theories conceive entrepreneurial acts taking place in market processes understood as complex institutional phenomena. There are strong theoretical complementarities between Austrian and behavioral approaches; both approaches value descriptive accuracy, though the behavioralists place more weight on operational tractability. Austrians and behavioralists share an interest in heuristics; they emphasize the role of prior micro-level knowledge at the discovery stage. Therefore more collaborative research in future between Austrians and behavioralists should prove fruitful. Copyright Springer 2006alertness, entrepreneurial behavior, heuristics, optimization, theory appraisal, M13, M21, D21, B41,

Purpose – Continued research around innovation within small- and medium-sized enterprises (SME) family businesses is needed to better understand the influence of specific resources and capabilities that might promote and/or constrain entrepreneurial activities. The purpose of this paper is to develop an organising framework investigating SME family business innovation drawing on a Schumpeterian understanding of innovation as the introduction of new combinations. Design/methodology/approach – Four guiding principles are developed and applied to an illustrative case study of an entrepreneurial family business that highlights the usefulness of complexity thinking for understanding innovation. Findings – NZ Sock provides a rich illustrative case study to highlight how principles of complexity thinking along with Schumpeterian notions of innovation can usefully inform the authors’ understanding of entrepreneurial SME family businesses. The proposed guiding principles offered are borne out in application to the illustrative case example. Research limitations/implications – The findings suggest that complexity thinking and a Schumpeterian lens can usefully inform and extend the authors’ understanding of innovation within entrepreneurial SME family businesses. Further research would benefit from exploring the guiding principles proposed in other entrepreneurial SME family businesses to further substantiate this field of inquiry. Practical implications – Principles of complexity thinking may provide additional understanding and insight for SME family business members needing to innovate and adapt to ever-changing operating environments. Originality/value – Innovation is critical to the long-term survival and success of such firms; yet, to date little theoretical contribution and research has been offered in the field of innovation within the context of SME family businesses. Complex adaptive systems provide a lens from which to understand such businesses and that that a complexity framework helpfully allows attention to be given to such phenomena as emergence, adaptability and combinations through which innovation outcomes and processes may be understood. This paper offers four guiding principles that can be further tested and refined.

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