These are challenging and difficult times for new entrepreneurial firms. The development of the Global Financial Crisis (GFC) 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 this flux, entrepreneurial firms, which they have demonstrated to make a range of contribution to the economy (van Praag & Versloot 2007) faced increasing constraints. New sustainability firms suddenly found themselves with limited work, as contracts and resources vanished under austerity measures. The Australian Federal Government agencies quickly implemented the Green Loan (GL) program in an attempt to stimulate fiscal recovery. The program appeared to be one way that new firms could ride out the turbulence of the GFC and influence the institutional rules being developed. Unfortunately, the implemented GL program was flawed with obsolete processes and information for some local environments (Faulkner, 2011), further constraining new firms.
One promising theory that evaluates entrepreneurial behavioural responses to constraints and institutional flaws is bricolage (Levi Strauss, 1967). Bricolage aligns with notions of resourcefulness: using what’s on hand, through making do, and recombining resources for new or novel purposes (Baker & Nelson 2005). In this research we evaluate bricolage behaviours in response to constraints during the GFC, within the GL sustainability program.
Senyard, Julienne; Davidsson, Per; and Steffens, Paul
"WAVING OR DROWNING? MANAGING RESOURCE CONSTRAINTS IN ENTREPRENEURIAL FIRM WITH BRICOLAGE AS A RESPONSE TO THE GLOBAL FINANCIAL CRISIS (SUMMARY),"
Frontiers of Entrepreneurship Research: Vol. 32
, Article 4.
Available at: http://digitalknowledge.babson.edu/fer/vol32/iss9/4