15256: Micro-Foundations of a Theory-Based View of Strategy and Entrepreneurship

Scholars in strategy and entrepreneurship have more recently drawn on the scientific method to propose a systematic procedure for generating knowledge and making informed decisions under uncertainty. Commonly referred to as the theory-based view, this perspective has gained significant traction and evolved from a specific approach into a paradigm for understanding decision making under uncertainty. However, the role of theories as central to this approach still remains underdeveloped. Specifically, we lack understanding of problem formulation as core to the development and enactment of theories. For example, how different problem formulations lead to different kind of theories and how those theories guide the eventual selection or enactment of particular kind of strategies is yet unclear. While paying much attention to the uncertainty that actors face about their decisions, that theory-based view has paid less attention to the equivocality that exists within organizational settings about what problems to solve in the first place. In multi-actor settings like organizations, more is to be understood about the judgment that leads actors to decide on what problem to solve and what theories to draw on in their pursuit of value creation and capture. This symposium will bring together a diverse group of leading scholars who have advanced this perspective, or contributed to closely related conversations, to jointly address such open questions. By advancing the understanding of the ‘cognitive micro-foundations’ of the theory-based view, this symposium aims to chart directions for future research extending this perspective.