Entrepreneurship Professor Peter Klein Awarded SEJ Best Paper PrizeSept. 4, 2018
By Ally Peters
Peter Klein, W. W. Caruth Chair and Professor of Entrepreneurship at Baylor, has been awarded the Strategic Entrepreneurship Journal Best Paper Prize by the Strategic Management Society. This award recognizes papers that were published five or more years prior, and are selected by the editors of the journal based on quantitative measures, such as number of citations, and subjective measurements of the paper’s influence in the industry.
Klein’s paper, “Opportunity Discovery, Entrepreneurial Action, and Economic Organization,” was published in September 2008 and addresses a new view on what entrepreneurship is and how it should be taught. This new theory has been termed the “judgment-based approach” to entrepreneurship.
“I think this particular perspective has had some influence on the field,” said Klein, “this was one of the papers that launched the judgment-based approach, which is now researched by other people and taught in schools.”
According to Klein, his approach defines judgment as “making decisions under conditions of uncertainty.” He explained that entrepreneurs who have good judgment are able to imagine possibilities about the future and are willing to risk putting resources into creating that future.
Klein has been a professor at Baylor for four years, and is the director of Baylor’s Entrepreneurship Ph.D. program and a senior research fellow at the Baugh Center for Entrepreneurship and Free Enterprise.
“I have loved being in an environment with a lot of smart people who think about entrepreneurship from lots of different perspectives, it has made me a much better thinker, teacher, and scholar,” said Klein.
The Strategic Entrepreneurship Journal is one of three journals published by the Strategic Management Society, an international organization focused on bringing together academics, business professionals, and consultants to discuss developing ideas about the strategic management process.