Previously, he was a J. Thomas Clark Professor of Entrepreneurship and Personal Enterprise at Cornell University.
In 2018, Lounsbury was elected as a Fellow of the Academy of Management (1% of membership) whose purpose is “to recognize and honor members of the Academy of Management who have made significant contributions to the science and practice of management” In 2020, Lounsbury received the J. Gordin Kaplan Award for Excellence in Research, the most prestigious University of Alberta research award.
His research has contributed to the new institutionalism by focusing on entrepreneurial dynamics and the emergence of new industries and practices.
The prize is awarded to the book that makes the most outstanding contribution to management knowledge.
[1] He is especially well known for his pioneering work on cultural entrepreneurship, and In 2019, he published with Mary Ann Glynn and Cambridge University Press book entitled, Cultural Entrepreneurship: A New Agenda for the Study of Entrepreneurial Processes and Possibilities.