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Waving or drowning? Managing resource constraints in entrepreneurial firm with bricolage as a response to the global financial crisis

Senyard, Julienne M., Davidsson, Per, & Steffens, Paul R. (2012) Waving or drowning? Managing resource constraints in entrepreneurial firm with bricolage as a response to the global financial crisis. In 2012 Babson College Entrepreneurial Research Conference, 6-9 July 2012, Fort Worth, Texas.

Abstract

These are challenging times for new entrepreneurial firms. The development of the Global Financial Crisis shook the very foundations of global markets and institutions that most firms relied on to do business (Claessens, et al., forthcoming). In the midst of institutional flux and resource constraints, entrepreneurial firms, which have been shown to make a range of contributions to the economy (van Praag & Versloot 2007) faced increasing constraints. The Australian Federal Government quickly implemented the Green Loan program in response to the financial crisis. Unfortunately, the green loans program was flawed with obsolete processes and information (Faulkner, 2011), further constraining new firms. Prior research provides few clues regarding how resource-constrained entrepreneurial firms deal with these institutional flaws within institutional change and how they might overcome these challenges and prosper.

One promising theory that evaluates behavioural responses to constraints and institutional flaws is bricolage (Levi Strauss, 1967). Bricolage aligns with notions of resourcefulness: defined here as “making do by applying combinations of the resources at hand to new problems and opportunities” (Baker and Nelson 2005: 333). Using three case studies, we consider how institutional flaws impact firm behaviours and illustrate the use of bricolage in attempts to reinforce, shape and change the GL program further extending bricolage domains of Baker and Nelson (2005).

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ID Code: 53810
Item Type: Conference Paper
Keywords: Managing Resource Constraints, Entrepreneurial Firms , Bricolage , Global Financial Crisis
Subjects: Australian and New Zealand Standard Research Classification > COMMERCE MANAGEMENT TOURISM AND SERVICES (150000) > BUSINESS AND MANAGEMENT (150300) > Entrepreneurship (150304)
Divisions: Current > Research Centres > Australian Centre for Entrepreneurship
Current > QUT Faculties and Divisions > QUT Business School
Current > Schools > School of Management
Copyright Owner: Copyright 2012 [please consult the author]
Deposited On: 25 Sep 2012 09:11
Last Modified: 03 Feb 2014 16:18

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