On May 26—27, 2018, a forum of " Frontiers of Entrepreneurship” was convened by Foreign Economics & Management and School of Management Jilin University. The topic of it is " VUCA and the Entrepreneurship Research in New Era” , and the representative viewpoints are as follows: （1） The coevolution perspective suggests that opportunities and resources coevolve in their differentiated structures, they are mutually conditional and interdependent in the process of entrepreneurship. The resource-based view suggests that resources are the source of competitive advantages, and unique resources form opportunities. The opportunity-led perspective argues that the entrepreneurial behavior is a collection of opportunity discovery, evaluation, and utilization, opportunities shape resource integration. The coevolution perspective gives a comprehensive interpretation of the relationship between exploitation behaviors of opportunities and resources in specific situations, by which, it contributes to the rapid development of startups and the prompt and effective formation of the strategic system. Start-up enterprises therefore should especially emphasize the interaction between dimensions and attributes of contexts and exploitation behaviors of opportunities and resources, and lay stress on the interaction and evolution of opportunity-resource integration based on the entrepreneurship ecosystem. （2） Most of recent studies on the relationship between different entrepreneurial factors have focused on the influence of single independent variables on dependent variables such as innovation and performance, ignoring the co-varied effects of multidimensional elements. The research on the perspective of " Fit” explores the impacts of matches of different elements on innovation and performance, making the effects of which witching from uni-dimensional to dual-dimensional, even multi-dimensional interaction, which can not only give new paths for innovation ambidexterity and performance improvement of new ventures, but also explain the full picture of complex entrepreneurial phenomena.（3） An extensive body of knowledge exists on how stiff competition and network structures may contribute to the creation of outcomes at different levels of analyses, but less attention has been paid to understanding how and why new ventures evolve and change. Entrepreneurial activities change dynamically with time and space. In order to survive, new ventures need to grasp the clues of these changes and establish response mechanisms, which helps the start-ups to respond quickly and effectively to competitors and to the evolution of network relationships in the context of " VUCA”. With the instruction of the signal theory and the perspective of social network embeddedness, scholars can formulate a synthesized theoretical system to explain the diverse responsive actions, which can guide the decision-making in the context of fast iteration. （4） The cognitive theory, as one of the basic theories of entrepreneurship research, guides business start-ups and entrepreneurs to explore the impacts of cognitive styles, cognitive abilities and cognitive changes on the entrepreneurial process, learning and entrepreneurs’ willingness to start a business after previous entrepreneurial failure. Cognition refers to the capacity to mentally process, comprehend and manipulate information. Cognition-based entrepreneurial learning to a great extent can not only improve the cognitive ability, and ensure the correctness of direction in the process of entrepreneurship, but also strengthen the practical value of corrective behaviors, which in turn can help entrepreneurs face the failure of business calmly, and therefore promote the willingness to start a business again. （5） It is not excessive to emphasize the uniqueness of capability. The development of new ventures is inseparable from the construction and extending of the capability system. The dynamic evolution of capability and its relationship with performance have been hot topics in the field of entrepreneurship research. In the transitional economic context of China, it is advisable for entrepreneurship researchers to study capability diversification, such as dynamic capability, operational capability, improvisational capability, responsive capability, and so on, to outline a coherent framework of the capability system for business startups, making them go smoothly on the guidance of it.
VUCA and the Entrepreneurship Research in New Era: Summary of 2018 Forum on the Frontiers of Entrepreneurship
Foreign Economics & Management Vol. 40, Issue 10, pp. 31 - 39 (2018) DOI:10.16538/j.cnki.fem.2018.10.003
Cite this article
Dong Baobao, Luo Junmei. VUCA and the Entrepreneurship Research in New Era: Summary of 2018 Forum on the Frontiers of Entrepreneurship[J]. Foreign Economics & Management, 2018, 40(10): 31-39.