Authors: Glykeria Karagouni; Yannis Caloghirou
Addresses: Technological and Educational Institute of Larissa, 11 V. Griva Str. 43100 Karditsa, Greece; Laboratory of Industrial and Energy Economics, School of Chemical Engineering, National Technical University of Athens, Zografou Campus, Heroon Polytechniou 9, 15780 Zografou, Greece ' Laboratory of Industrial and Energy Economics, National Technical, University of Athens (NTUA), Heroon Polytechniou 9 str, Zografou Campus, Athens, 15780, Greece
Abstract: This paper tries to explicate the nature and dimensions of the newly presented autotelic capabilities (ACs). The relevant framework introduces a comprehensive set of entrepreneurial dynamic capabilities which depend on the entrepreneurial teams' characteristics, can be harnessed to a certain extent, and lead to the creation of entrepreneurial activities focused on novel knowledge-intensive ideas which challenge and change the existing business ecosystems or create new ones. Although still in their infancy, we propose that ACs can be defined and more clearly understood through three dimensions, notably bricolage, improvisational and transcendental capabilities. ACs are responsible for the shaping of emergent conditions by creating and not simply discovering opportunities. They engage in exploration out of the boundaries of the firm and usually even of the industry they belong which is a major role of ACs in building initial competitive advantages. The framework applies for low-tech but knowledge-intensive new and corporate ventures.
Keywords: new ventures; low-tech entrepreneurship; knowledge-intensive entrepreneurship; competitive advantage; autotelic capabilities; bricolage; improvisation; transcendental capability; strategic management; corporate ventures.
Journal for International Business and Entrepreneurship Development, 2013 Vol.7 No.1, pp.21 - 36
Published online: 15 Feb 2013 *Full-text access for editors Access for subscribers Purchase this article Comment on this article