Question

Elaborate the influence of the temporal, spatial and institutional dimensions of context on entrepreneurship and innovation..

Answer 1

SOLUTION

TEMPORAL, SPATIAL AND INSTITUTIONAL DIMENSIONS OF CONTEXT OF ENTREPRENEURSHIP AND INNOVATION

Entrepreneurship, with product and process innovation as espeacially important subsets, is at the core of the regional development process. But the term entrepreurship can mean different things, espeacially in empirical studies of entrepreneurial phenomena. There is growing recognition in entrepreneurshipresearch that the economic behaviour can be better understood within its historical, temporal, spatial and institutional dimensions as the contexts provide individuals with opportunities and boundaries for their actions. Context is important for understanding when, how and why entrepreneurship happens and who becomes involved.

Context is a term that has been used more and more frequently over the last 30 or 40 years in a number of disciplines such as anthropology, archaeology, art history, geography, intellectual history, law, linguistics etc. Entrepreneurships are also responsible for the activities of the business-level strategies consistent with the growth obectives.

Moreover the firms we study portray all of the contradictions of pursuing a bold vision of growth in the rough seas of an institutional setting and probably offers more constrains than opportunities. The innovation and growth patterns that they undertake are not fully explained by the exploitation of the resources that are available in the proximate environment, and the setbacks in this process are not fully explained by the fact that the firms do not control the resources necessary for the innovation. Entrepreneurship research focuses on the premise that entrepreneurs have distinctive personality traits, which influence their behaviour.

The spatial dimension of context incoporates geography and the location which are important for entrepreneurship . Geography is often discussed in terms of clusters of firms located in different regions. The temporal dimension concerns time and this is important for the relevance in entrepreneurship. Timeliness of innovation is relevant for entrepreneurship in terms of their competitiveness. The institutional dimension of context includes aspects about ownership and governence.