This article presents a theory of venturing using a critical realist approach. Venturing is presented as an outcome of reflexive engagement between individuals and circumstances, where opportunity is perceived in relation to some idiosyncratically defined value. Traditionally, venturing has been considered as necessarily involving financial value orientation. Removing the primacy of financial ambitions affords better explanation of real-life business activity. Venturing is presented also as temporally informed and informing through a lifetime, and thus it influences ongoing work choices, including further venturing. The benefits to theory and practice are outlined, including informing support of disparate venturing and of entrepreneurship as a specific type.

No abstract

This paper contributes to the unresolved concern about the relationship between habitus and reflexivity. Using Sri Lanka, a postcolonial social-context as the research ground, the paper provides a contemporary interpretation of individuals' reflexive and habitual behaviour that displaces Bourdieu's concept of habitus as inappropriate for the representation of 21 st century social dynamics. While Sri Lanka is often labelled a traditional society, where habitual, routine, pre-reflexive action is thought to be more common, studies that question this generalised view appear to be largely absent. Therefore, based on a critical realist morphogenetic perspective that renders the analytical possibility of both routine and conscious action, this paper investigates the role of habitus and reflexivity through seventyfive work and life histories gathered from Sri Lanka. The findings suggest that even the reproduction of traditional practices have increasingly become a reflexive task; thus, this work supports the position that habitus fails to provide reliable guidance to understand social-action, even within a society labelled as traditional.

This paper builds on previous studies that explore entrepreneurship from a critical realist morphogenetic perspective, and incorporates the neglected aspect of how agential reflexivity shapes entrepreneurship. Using the morphogenetic framework and its typology of reflexive modes, we analyse 78 work and life histories gathered from Sri Lanka with the aim of understanding reflexive entrepreneurial action. Our findings suggest that, while autonomous reflexives match the common understanding of entrepreneurship, i.e. that it is individualistic and wealth-driven, nevertheless the other reflexive modalities also exhibit entrepreneurship. For example, communicative reflexives may demonstrate entrepreneurship in achieving their aspiration to maintain a family firm or tradition, and meta-reflexives may demonstrate entrepreneurship in order to realize their value ideals. We conclude that the morphogenetic typology of reflexivity is a reliable guide to understanding subtleties associated with entrepreneurial action and resolving the ongoing debate about whether entrepreneurship is best understood as motivated by the individual or by society.

No abstract