Entrepreneurship is an innovative solution for many businesses, communities, governments, nonprofits, and social innovators to address societal issues, such as poverty and social injustice. Civic wealth creation (CWC) is one type of entrepreneurial change process that engages diverse stakeholders to enact positive social change (PSC). However, resistance to change and low stakeholder engagement often impede efforts to achieve desired outcomes. Because stakeholder theory holds that stakeholders with joint interests create new value when they interact, we propose a stakeholder engagement framework that uses the awareness, desire, knowledge, ability, and reinforcement (ADKAR) change methodology to enhance CWC stakeholders’ propensity to participate in the entrepreneurial change processes that create PSC.

How small-business owners assess uncertainty and risk in the macroeconomic environment to report optimism toward their business activity is an important research question for policymakers and academics alike. Drawing on a monthly optimism index and a variety of uncertainty and volatility (risk) trackers from January 1986 to June 2017, in line with the expectation that business owners dislike uncertainty in economic policy, economic policy uncertainty may lower optimism. Business investment and sentiment volatility, however, contributed positively to optimism. The findings provide preliminary implications for policymakers in targeting indicators salient to the optimism index of small-business owners.

How can stakeholder theory contribute to opportunity theory? We suggest that stakeholder theory affords appropriate theoretical lenses for grounding the opportunity-actualization perspective more firmly within the real-world constraints of business venturing. Actualization departs from a strong focus on entrepreneurial agency to conceptualize how pre-existing environmental conditions determine what entrepreneurial action can achieve. We explain that stakeholder theory can strengthen the outward-looking orientation of actualization by (1) bringing the entirety of stakeholders centre-stage, beyond a narrow focus on market stakeholders, and (2) stressing the importance of noneconomic considerations for the actualization of economic opportunities. Our theorization culminates in the concept of ‘strategic opportunity thinking’ (SOT). We conceptualize SOT as a way of protecting entrepreneurs from the blind-to-stakeholders mindset that either sleepwalks them into the territory of non-opportunity or prevents them from the actualization of real yet difficult-to-actualize opportunities in the absence of stakeholder-centric thinking.

Crowdfunded microlending research implies that both communal and agentic characteristics are valued. These characteristics, however, are often viewed as being at odds with one another due to their association with gender stereotypes. Drawing upon expectancy violation theory and research on gender stereotypes, we theorize that gender-counterstereotypical facial expressions of emotion provide a means for entrepreneurs to project “missing” agentic or communal characteristics. Leveraging computer-aided facial expression analysis to analyze entrepreneur photographs from 43,210 microloan appeals, we show that women benefit from stereotypically masculine facial expressions of anger and disgust, whereas men benefit from stereotypically feminine facial expressions of sadness and happiness.