Resourcefulness: a proximal conceptualization of entrepreneurial behaviour

Abstract

The conceptualisation of the ’entrepreneurial resourcefulness’ model helps one to understand various aspects prompting an entrepreneur to identify opportunities and thereby regulate and direct her/his behaviour to make the best use of these opportunities. The model elaborates three entrepreneurial competencies—cognitive, affective and action oriented. Various details of these competencies are elaborated to explain the behaviour pattern of an entrepreneur. The model treats the behaviour of an entrepreneur as an outcome variable and acknowledges that there are significant variations in the behaviour of one entrepreneur from the other. This article helps in resolving the doubts and confusions surrounding the conceptualisation of the terms ’entrepreneur’ and ’entrepreneurship’. The resourcefulness model clarifies these confusions and contributes towards both theory advancement and generating new research hypotheses.