A Model of Entrepreneurial Capability Based on a Holistic Review of the Literature from Three Academic Domains

Abstract

While there has been a noted variation in the ‘species’ of entrepreneur so that no single list of traits, characteristics or attributes is definitive, it is posited that to be an entrepreneur a certain amount of entrepreneurial capability is required. ‘Entrepreneurial capability’ is a concept developed to place some form of identity on the attributes that are needed to pursue an entrepreneurial career. The concept of entrepreneurial capability is linked to that of entrepreneurial capital, previously discussed by Erikson (2002) and Firkin (2003), but it provides greater depth and offers wider applicability. After reviewing the literature from the fields of economics, politics and the social sciences, the author proposes an ‘equation’ and a model for the factors that act as building blocks for an individual's entrepreneurial capability, which can be applied to nascent as well as experienced and serial entrepreneurs.