Human Resource Orchestration for the Implementation of Entrepreneurial Opportunities

Timo Rinne

doi:10.4172/2169-026x.1000123

Abstract

Entrepreneurial service firms continuously seek new opportunities, trying to integrate identified opportunities as part of their service portfolio. Successful implementation of new opportunities requires effective management of human resources and development of competences required in these firms. The concept of resource orchestration offers a theoretical framework for strategic human resource management in entrepreneurial firms. However, there is limited research on how the firms orchestrate their human resources in the process of implementation of entrepreneurial opportunities. This paper is a case study of five small technology service firms. The paper examines how the case firms have managed and developed their human resources while implementing new business opportunities and how they have adopted the concept of resource orchestration. Results of this study show that the importance of different subprocesses of resource orchestration varies among small service firms and that often several sub-processes must be managed simultaneously. Successful implementation of new business opportunities requires good managerial abilities and is connected to the sub-processes of resource orchestration. Based on the findings of the study, this paper proposes a revised model for human resource orchestration for the process of entrepreneurial opportunity implementation.

Highlights

Human resource management is an important part of strategic entrepreneurship (SE)
This paper aims to develop a deeper understanding of the resource orchestration concept by examining how human resources are managed during the process of opportunity implementation
This study shows that, for opportunity implementation, some selected sub-processes of resource orchestration are more important than others and some sub-processes practically do not exist in the context of case firms

Summary

Introduction

Human resource management is an important part of strategic entrepreneurship (SE). Intangible resources, and human resources, are the most important factor in creating competitive advantage for a firm [1]. Continuous opportunity seeking and exploitation processes are the core of SE, and all management activities related to entrepreneurial opportunities are critical for small firms. Human resource management in SE has been strongly based on Resource-Based View (RBV) [2, 3, 4]. The concept of resource orchestration has contributed to SE by introducing an alternative approach to resource management [5]. Resource orchestration introduces the process of structuring, bundling, and leveraging resources in a firm [5, 6, 7]

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