Abstract
This article reviews the intellectual contributions of Professor Sidney G. Winter, who is the recipient of the 2015 Global Award for Entrepreneurship Research. Professor Winter has contributed through his theoretical as well as empirical understanding of Schumpeterian processes of dynamic competition, the generation of differential technological opportunities through appropriability conditions and the mechanisms driving dynamic capabilities in firms. His work, especially the joint work on evolutionary economics with Richard R. Nelson, has led to a revival of interest in theories based upon Schumpeterian economics within the study of both entrepreneurship and innovation. His work on dynamic capabilities has been highly influential in management. Professor Sidney G. Winter is Deloitte and Touche Professor Emeritus of Management, The Wharton School, University of Pennsylvania.
Highlights
His work has inspired a new generation of research on the underpinning dynamics of economic development, reigniting interest in Schumpeterian economics
The first phase, which underlies much of his thinking about evolutionary processes, has to do with heterogeneity in firm behavior, and how if accepted this view would affect the traditional view of profit maximization in economics
Professor Winter’s work has impacted our understanding of the phenomena related to key attributes and understanding entrepreneurship, through the synthesis of evolutionary economics as well as specific topics of innovation, technical change, routines and capabilities, which are all closely related within his intellectual contributions
Summary
Winter has made significant intellectual contributions to a broader understanding of entrepreneurship by linking the internal routines and capabilities of the firm to a dynamic environment through an evolutionary approach, for which he was awarded the 2015 Global Award for Entrepreneurship Research.. The third phase centers around defining how firms develop capabilities, including the relationship to replication and adaptation activities in the firm This contribution, when set in relation to debates about routines, learning and managerial choice, provides a deeper understanding of capabilities in large firms and in entrepreneurial firms. Professor Winter’s work has impacted our understanding of the phenomena related to key attributes and understanding entrepreneurship, through the synthesis of evolutionary economics as well as specific topics of innovation, technical change, routines and capabilities, which are all closely related within his intellectual contributions.
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