Rethinking Entrepreneurship: Reflections from Oxford’s Cultural Leadership Programme

I was fortunate enough to be awarded a scholarship to Oxford University’s Cultural Leadership Programme, held at Saïd Business School over six days in November, December, and January. I've just finished the first two days - which were an intense blend of practical workshops, discussions, and lectures. This is has been a rare chance to step back, think deeply, and challenge some of the assumptions that shape cultural leadership today.

Day two focused on entrepreneurship, led by Dr Pegram Harrison, Senior Fellow in Entrepreneurship at Saïd Business School. His session — which was thoughtful, provocative, and intellectually generous — has stayed with me, and these are some reflections that emerged from it.

Dr Harrison opened with Howard Stevenson’s influential definition:

“Entrepreneurship is the pursuit of opportunity beyond resources currently controlled.”

It’s a widely accepted definition — yet it sits within cultural assumptions that shape how we interpret entrepreneurialism. The dominant narrative has long emerged from a distinctly Western, historically male perspective, reinforced by a Silicon Valley mythology about who is allowed to be seen as an entrepreneur.

But if we take Stevenson’s definition seriously, it becomes clear that vast sections of society embody this “venture spirit” far more authentically than those who typically receive the accolades.

Migrants and refugees, for example, pursue opportunity from a place of profound constraint — navigating unfamiliar systems, rebuilding lives, and taking risks with no safety net. By Stevenson’s measure, they are among the most formidable entrepreneurs of our era. Yet this ingenuity rarely features in the entrepreneurial stories our culture chooses to elevate.

Similarly, the charity and social impact sector operates on this principle every day. Charity leaders constantly identify opportunities for community benefit long before the resources exist to realise them. Creativity, conviction, and belief must precede financial certainty at every step. This is entrepreneurship in its purest form.

Conversely, once an individual or organisation possesses overwhelming resources, the nature of their entrepreneurship inevitably shifts. They are no longer operating “beyond the resources they control” — their ventures begin from a position of abundance. Their success, therefore, should be judged differently.

For resource-rich entrepreneurs, financial success or technological innovation alone are not meaningful measures of achievement. The real criterion should be whether their work delivers tangible, positive social impact. By that standard, many of the individuals our culture glorifies would not be considered successful at all; some have, in fact, caused significant social harm.

Innovation that enriches only the innovator is not socially valuable — it is merely accumulation.

As cultural leaders, we have a responsibility to widen the frame. Entrepreneurship is not the exclusive domain of the privileged few; it is present in every community where imagination meets constraint. Perhaps it is time to expand the narrative — and celebrate the forms of innovation that strengthen society rather than simply enrich individuals.

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Feature image by Chris Boland.