DOI: 10.5176/2251-1970_BizStrategy13.05

Authors: Erik A. Borg, Karl Gratzer

Abstract:  Research into entrepreneurship has previously paid little attention to the role of brands. This article synthesizes theories of entrepreneurship, branding, transaction cost, and strategy. By developing a strong brand, managers distinguish their companies, products, or services from those of competitors. Brand theories can be linked to various entrepreneurship research perspectives. Brands can be regarded as innovations that reduce transaction costs for the buyer who can better make purchase decisions.

The management literature defines brands in two main ways, using business-oriented and consumer-oriented definitions. The strategy literature encompasses both these approaches, linking the entrepreneurial function and brand development. It is through the use of strategy that entrepreneurs can develop their brands, making them integral to a modern definition of entrepreneurship.

Keywords: component brands, entrepreneurship, Schumpeter, strategy, transaction cost

LinkOut:    Södertörn University


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