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A life cycle theory typically starts with the assumptions of birth, growth, maturity and decline. Life cycle theories are borrowed from biology where life cycles of flora and fauna are studied extensively. Thus, perhaps it is ok to think of this borrowing as a kind of analogy--imperfect, but potentially interesting. By definition a life has a beginning and an end, which provides initial boundary conditions for the theory. What happens in between, or those inner-transitions, are where we are going to find most of the action in terms of debate. Because of its close relationship to stage based theories , we will defer your attention there for further information. Other biological theories that might interest you: Birth order theory of entrepreneurship Brain parasite theory of entrepreneurship Genetic theory of entrepreneurship The Great Man theory of entrepreneurship

Cognitive evaluation theory is a theory in psychology (part of self-determination theory) where it has been used to explain how external factors affect an individuals intrinsic or internal motivation. Events that increase (decrease) perceived confidence increase (decrease) intrinsic motivation. Keh et al. (2002) borrow the theory to conduct a study of entrepreneurs and find that: "illusion of control and belief in the law of small numbers are related to how entrepreneurs evaluate opportunities." These authors propose that individuals that perceive a lower level of risk associated with an opportunity are more likely to judge it positively. Entrepreneurs exhibiting an illusion of control , will have higher overconfidence and will perceive less risk. This is related to the hubris theory of entrepreneurship . Another finding is that entrepreneurs with stronger beliefs in " the law of small numbers " perceive lower risks. The law of small numbers refers to the fallacy t...

One of the most popular 19th century theories of entrepreneurship is the "great man theory". The theory's popularity is probably owing to the historian  Thomas Carlyle . Yes, I know, it sounds sexist from the start, but let us stretch the meaning and say it's the great people theory, and try to move it along from there. Great people theories are often heard in historical tales of WW2, with Hitler, Stalin, Churchill, Eisenhower, Roosevelt, and a few others leading the way. In reality, tens of millions of people were involved in the war and a myriad of events occurred over time that may have impacted the outcomes of the war. The same is done with entrepreneurs, pitting Bill Gates against Steve Jobs in the battle for the PC, for instance. The great people theory holds that most of the important decisions about how the economic and political world works today were made by just a handful of people. These gifted individuals are the heroes and heroines of every age. Another ...

Mental disorders are usually studied as problems in need of remedies like medication, interventions, or counseling. However, some entrepreneurship researchers have suggested that mental disorders can be positively associated with entrepreneurship. The idea is that a disorder may be due to a mismatch between person and context. Perhaps people who may have mental disorders preventing them from, for example, taking a cubical job, may thrive in a more entrepreneurial environment. Maybe entrepreneurship is an outlet allowing people that might be dysfunctional employees to succeed (See Wiklund et al., 2018). Bogan et al. (2013) suggest that mood disorders cause difficulties for people in the job market and therefore leads them to pursue self-employment. Their data corroborate this. Some mental disorders may also confer advantages upon their hosts, at least for some entrepreneurial tasks. For instance, Wiklund et al. (2016) find that individual with ADHD may be more likely thrive doing fa...

As always, we should take new theories with a grain of salt. In this case, you might get a little grossed out! The Toxoplasma gondii parasite is carried by felines (cats) and has be found to infect their human masters too. The parasite can be caught through contact with the animals and their bodily fluids and solids. The parasite causes brain cysts that last a lifetime and lead to behaviors including bipolar disorder, reduced fear, and lower IQ. Some have estimated that over 2 billion humans have been infected, though infection rates differ greatly by country. For instance, the U.S. infection rate is around 3%, while it may be as high as 50 to 70% in France and Mexico. Petr Houdek at University of Economics in Prague reviewed the literature in a 2017 paper published in the Academy of Management Perspectives . New research by Stefanie Johnson (Leeds School of Business) and colleagues (a gang of non-biologists) suggests that those infected by the virus are 1.7 times more likely to choos...

Birth order theory is the construction of 1950's psychoanalysts (think Sigmund Freud , Carl Jung , and Alfred Adler ) who posited that when (the timing) an individual is born, in relation to the birth of siblings, shapes experiences and personalities. Birth order is laden with so much cultural meaning both within families and in societies in general, that it guides psychological development. Robinson and Hunt quote Rychlak' (1981:145) summary the typical logic behind birth order theories as follows: "In a multiple-child family, the firstborn child not only becomes a great believer in power, but as an adult he or she is more likely than other children in the home to have a conservative, conforming outlook, to be a 'regular citizen' and a conventional individual. The second-born child is likely to feel a sense of challenge in the family constellation. . . If a second-born child has any talent, we are more likely to see this offspring develop it than the others becaus...

The genetic approach to entrepreneurship looks to biological inheritance to explain the tendency for an individual to become an entrepreneur and succeed in entrepreneurial ventures. Research on genetic links is spurred on by considerable anecdotal evidence that the children of entrepreneurs are more likely to become entrepreneurs than the children of non-entrepreneurs. Genetic research tries to tease out family and environmental factors (learning, role modeling, and resources) from genetic factors. Nicolaou et al. (2008) conclude that when one twin becomes an entrepreneur then the other twin is more likely to, even when controlling for family upbringing and other environmental factors. They suggest that testosterone levels are inherited and related to the decision to become an entrepreneur. Later studies have added more depth to the analysis, looking to personality traits as mediators. For instance, Shane et al. (2010) study twins (with 50% and 100% similar genes) and conclude that the...

Hannan and Freeman's (1977) population ecology theory hangs on the assumption that environments can only handle a fixed number of organizations of each type. After a certain point is reached, there are diminishing returns to density that eventually balance out through the mortality of organizations. The theory is about the tension between the need to be considered as legitimate in order to compete, but also the need to be competitive. As more organizations enter the market, they become increasingly legitimate, but this leads to greater competition making survival more challenging. Thus, the early market is dominated by the need for legitimacy , while the later market is dominated by competitive forces of selection. As environments change, often due to innovations introduced by organizations within them, mortality rates increase for organizations experiencing high levels of resistance to change. Inertial forces guarantee that most innovations will come from new entrants and not from...