Creating and capturing new value is a central concern for entrepreneurship and strategy. Entrepreneurs must discover or create value, and then organize and govern its composition. In both the scholarly and practitioner literature, search strategies are rarely considered jointly; the implicit assumption seems to be that there is one strategy to rule them all. Curiously, entrepreneurship tends to make a similar implicit assumption about the entrepreneurial firm: theories of the firm have tended to separate choices associated with value creation from choices about governance. While significant attention has been paid in strategy and entrepreneurship to orchestrating resources, the question of how to govern their orchestration is left in the shadows. This talk ties these issues together as novel theory in entrepreneurship, exploring value creation and capture through the lens of comparative governance. We will discuss what it means to govern the search for value, the rationale and necessity of the entrepreneurial firm as a mode to capture value, and whether and where machine intelligence can substitute for human intelligence in the search for value and the generation of novel strategies.
Robert Wuebker is an Assistant Professor of Entrepreneurship and Strategy at the David Eccles School of Business, University of Utah. He is the Academic Director of the award-winning Foundry student startup accelerator at the Lassonde Entrepreneur Institute. He also holds joint appointments in the School of Engineering and the Multi-Disciplinary Design Program. His research on innovation, entrepreneurship, and venture investment appears in leading academic journals ranging from The Academy of Management Review to the Journal of Corporate Finance. He is an nationally-recognized instructor with extensive experience in MBA teaching and executive education and coaching. He is a National Science Foundation Fellow, Swiss National Science Foundation Fellow, and ThinkSwiss grant recipient for work in renewable energy investment. Previous to his academic career, Rob was an founder or early participant in several venture-backed startups, experiencing founding, financing, growth and exit firsthand.