EVERYDAY ENTREPRENEURSHIP
What model do the authors call the dominant image of entrepreneurship in the field?
The “Silicon Valley model” — a traditional view of entrepreneurship focused on technology, innovation, venture capital, rapid growth, and scaling into a large company.
According to Welter, entrepreneurship is never what?
Context-free — it is always shaped by where, when, and who is involved.
What does the acronym WEIRD stand for?
Western, Educated, Industrialized, Rich, Democratic.
According to the authors, most entrepreneurship research analyzes only the 'top' what percent of growth ventures — even though this group represents a tiny, unrepresentative slice of all entrepreneurial activity?
The top 1% — the authors argue research is skewed toward studying this tiny group of outliers "gazelles" and "unicorns" while largely ignoring the "everyday" entrepreneurship.
Name the four classic dimensions of context in Welter's framework and what is meant by it.
Business, social, spatial, and institutional context.
Business: The industry, market, and sector conditions
Social: The networks, relationships, and social embeddedness around the entrepreneur
Spatial: The physical/geographic environment.
Institutional: The formal and informal rules of the game
What is the core problem Shepherd et al. identify with entrepreneurship theory?
It is built and tested mostly on WEIRD samples, then treated as if it applies universally.
Name two of the "valorized vs. disparaged" dichotomies the authors list in entrepreneurship research.
Any two of: opportunity vs. necessity-based, venture capital backed vs. bootstrapped, formal vs. informal, men-owned vs. women-owned, innovator vs. replicator, growth-oriented vs. lifestyle, entrepreneur vs. small business owner.
Welter's framework isn't just one-directional. Besides context shaping entrepreneurs, what's the reverse relationship she points to?
Entrepreneurs can also shape and change their context.
Based on the authors' own review of top entrepreneurship journals over the past decade, approximately what percentage of published samples were WEIRD?
Approximately 87%.