Table 1 Conceptual similarities and... | Emerald Publishing

Table 1

Conceptual similarities and differences between entrepreneurship and island entrepreneurship

Criterion	Entrepreneurship	Island entrepreneurship
Key concepts	Innovation (Schumpeter, 1947; Sarasvathy et al., 2010) Autonomy; Innovative firms (Alerasoul et al., 2022; Schumpeter, 1947)	Innovative behavior (Booth et al., 2020; Danson and Burnett, 2014) Informational, cultural, and political gap to the mainland (Freitas and Kitson, 2018; Hall, 2012; Merouani et al., 2023) Management of island resources and dependence on local island community (Baldacchino, 2005; Booth et al., 2020; Danson and Burnett, 2014; Fellman et al., 2015; Jayawardena et al., 2022; Kelman et al., 2015)
Relation to risk	Risk-taking under true uncertainty (Schumpeter, 1947; Coad and Storey, 2021; Syed, 2021)	Risk-taking under partly known conditions and with limited resources (Baldacchino, 2015; Baldacchino and Fairbairn, 2006; Merouani et al., 2023; Rytkönen et al., 2023)
Driving forces	Opportunity (Alsos et al., 2020) Profits (Gedeon, 2010; Knudsen and Swedberg, 2009) Creating new markets or substantial market advantage (Gholizadeh and Mohammadkazemi, 2022)	Lack of local labor market (Merouani et al., 2023; Rytkönen et al., 2023) Opportunity and profits (Fellman et al., 2015; García-Tabuenca et al., 2011) Lifestyle (Siemens, 2014) Solve local problems, and overcome the lack of local resources and infrastructural deficiencies (Baldacchino, 2015; Merouani et al., 2023; Rytkönen et al., 2023)
Underlying assumptions	Path-breaking, changes market conditions (Haltiwanger, 2022) Acts on market imbalances, or creates market imbalances (Lanivich et al., 2022) Alertness and proactiveness (Alsos et al., 2020) Effectuation (Gholizadeh and Mohammadkazemi, 2022) Gains competitive advantage over others (Alsos et al., 2020; Kogut et al., 2023)	Lack of agglomeration, limited labor markets, and scarce resources Localized, embedded, relies partly on local physical characteristics of islands Dependence on the existence of social capital and local networks (Baldacchino, 2015; Merouani et al., 2023; Rytkönen et al., 2019)
Conceptual gaps and theoretical debates	Further conceptualize a variety of concepts to understand a variety of entrepreneurship (Audretsch et al., 2021; Welter and Baker, 2021)	Contrasting arguments The creative side of islands is not only vulnerable but also under peripheral conditions (Baldacchino, 2015; Hall, 2012; Merouani et al., 2023) Island communities can mobilize agency and influence entrepreneurial development (Booth et al., 2020; Rytkönen et al., 2023) The type of market makes a difference, e.g. focus on niche markets offers new opportunities (Fellman et al., 2015)
Outcomes	Economy and market changes Entrepreneurial rent-generation (Haltiwanger, 2022; Schumpeter, 1947; Urbano et al., 2019)	Economic reproduction (Siemens, 2014) Self-employment (Booth et al., 2020); Generation of income and employment opportunities (Rytkönen et al., 2023) Diversification (Azmi et al., 2023; Merouani et al., 2023) The exploitation of island assets (Baldacchino, 2015; Merouani et al., 2023; Rytkönen et al., 2019)

Criterion	Entrepreneurship	Island entrepreneurship
Key concepts	Innovation (Schumpeter, 1947; Sarasvathy et al., 2010)Autonomy; Innovative firms (Alerasoul et al., 2022; Schumpeter, 1947)	Innovative behavior (Booth et al., 2020; Danson and Burnett, 2014)Informational, cultural, and political gap to the mainland (Freitas and Kitson, 2018; Hall, 2012; Merouani et al., 2023)Management of island resources and dependence on local island community (Baldacchino, 2005; Booth et al., 2020; Danson and Burnett, 2014; Fellman et al., 2015; Jayawardena et al., 2022; Kelman et al., 2015)
Relation to risk	Risk-taking under true uncertainty (Schumpeter, 1947; Coad and Storey, 2021; Syed, 2021)	Risk-taking under partly known conditions and with limited resources (Baldacchino, 2015; Baldacchino and Fairbairn, 2006; Merouani et al., 2023; Rytkönen et al., 2023)
Driving forces	Opportunity (Alsos et al., 2020)Profits (Gedeon, 2010; Knudsen and Swedberg, 2009)Creating new markets or substantial market advantage (Gholizadeh and Mohammadkazemi, 2022)	Lack of local labor market (Merouani et al., 2023; Rytkönen et al., 2023)Opportunity and profits (Fellman et al., 2015; García-Tabuenca et al., 2011)Lifestyle (Siemens, 2014)Solve local problems, and overcome the lack of local resources and infrastructural deficiencies (Baldacchino, 2015; Merouani et al., 2023; Rytkönen et al., 2023)
Underlying assumptions	Path-breaking, changes market conditions (Haltiwanger, 2022)Acts on market imbalances, or creates market imbalances (Lanivich et al., 2022)Alertness and proactiveness (Alsos et al., 2020)Effectuation (Gholizadeh and Mohammadkazemi, 2022)Gains competitive advantage over others (Alsos et al., 2020; Kogut et al., 2023)	Lack of agglomeration, limited labor markets, and scarce resourcesLocalized, embedded, relies partly on local physical characteristics of islandsDependence on the existence of social capital and local networks (Baldacchino, 2015; Merouani et al., 2023; Rytkönen et al., 2019)
Conceptual gaps and theoretical debates	Further conceptualize a variety of concepts to understand a variety of entrepreneurship (Audretsch et al., 2021; Welter and Baker, 2021)	Contrasting argumentsThe creative side of islands is not only vulnerable but also under peripheral conditions (Baldacchino, 2015; Hall, 2012; Merouani et al., 2023)Island communities can mobilize agency and influence entrepreneurial development (Booth et al., 2020; Rytkönen et al., 2023)The type of market makes a difference, e.g. focus on niche markets offers new opportunities (Fellman et al., 2015)
Outcomes	Economy and market changesEntrepreneurial rent-generation (Haltiwanger, 2022; Schumpeter, 1947; Urbano et al., 2019)	Economic reproduction (Siemens, 2014)Self-employment (Booth et al., 2020); Generation of income and employment opportunities (Rytkönen et al., 2023)Diversification (Azmi et al., 2023; Merouani et al., 2023)The exploitation of island assets (Baldacchino, 2015; Merouani et al., 2023; Rytkönen et al., 2019)

Source(s): Authors’ own elaboration