Cultural entrepreneurship: stories, legitimacy, and the acquisition of resources

Gaining influence through cultural manipulation

Cultural Entrepreneurship News

An interesting article by Michael Lounsbury & Mary Ann Glynn in the Strategic Management Journal (Volume 22, Issue 6-7, pages 545–564, June – July 2001) talks about Cultural Entrepreneurship and the acquisition of resources.

strategicmgmtcoverIt can be found in this Journal’s Special Issue: Strategic Entrepreneurship: Entrepreneurial Strategies for Wealth Creation. Below you can find an abstract and the link to the Journal article can be found here (Wiley Online Library).

“Abstract

We define cultural entrepreneurship as the process of storytelling that mediates between extant stocks of entrepreneurial resources and subsequent capital acquisition and wealth creation. We propose a framework that focuses on how entrepreneurial stories facilitate the crafting of a new venture identity that serves as a touchstone upon which legitimacy may be conferred by investors, competitors, and consumers, opening up access to new capital and market opportunities. Stories help create competitive advantage for entrepreneurs through focal content shaped by…

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