Entrepreneurs as Forecasters and a Market for their Services (original) (raw)

Entrepreneurs' role

2019

In most research entrepreneurs are described as general subjects. Of course, these approaches reveal that you do not match and can not explain much of the situation. The group of people called the entrepreneur behaves differently from the definitions. In my dissertation (Gergely Németh: Cognitive Approach to Some Entrepreneurial Behavior Patterns, 2017), a chapter is about differentiating the entrepreneur's roles. In this categorization, I have included the Gerber division, already classical citation, and I have also come up with new approaches based on the reviewed literature. I considered the process of entrepreneurship a process that was crossed by the Situational Cognitive Approach (Smith and Semin 2004, 2007) so that the effect of the context can also be reflected in this sphere of interpretation. Below I describe the roles of the entrepreneur, the owner, the manager, the inventor, and the producer

Locating the Origin and Role of Entrepreneur in Economic Theories

2016

The complexity and ubiquitous nature of entrepreneurship field compelled it to evolve as a multidisciplinary subject area. Various academic fields have contributed at philosophical, conceptual and methodological levels to highlight the different facets of entrepreneurship. One has to get hold of any one side of the string to generate the basic understanding of “entrepreneurship” (phenomenon) and the “entrepreneur” (individual initiating the process) by reviewing the extant literature on the subject. The subject roots are in economics discipline but the treatment it received therein added further to its complexity, hence, no unanimous definition of entrepreneurship could be reached at. The paper therefore, aims to explicate the economic theories to offer a workable definition that can provide a fresh start to early academics in the discipline.

The Entrepreneur in Economic Theory: From an Invisible Man Toward a New Research Field

Mainstream economics had great difficulty in fitting entrepreneurship into its theory and for long time the theoretical firm remained “entrepreneurless”. However, from the early 20th century onwards, we identify strong attempts of key economists to recognize the role of the entrepreneur as an explanatory force of several economic phenomena. This paper analyzes the evolution of economic thought on entrepreneurship, and in particular the path through which the entrepreneur (re)entered into economic theory over the 20th century, leading to the new and increasingly independent research field Economics of Entrepreneurship. The analysis goes through the main Economics fields where the (re)discover of the entrepreneur figure was most remarkable - namely Labor Economics, Microeconomics and Industrial Organization, and Economic Growth and Development - searching for the rationality to include the entrepreneur figure into the analyses of particular economic phenomena. The study is enriched by a brief bibliometric analysis, which helps to set forth a chronological trace of the entrepreneurship research within Economics literature.

The Entrepreneur in Theory and Practice

Journal of Economic Studies, 1994

The entrepreneur, in one form or another, has been around a long time in both economic theory and empirical studies of entry. Argues that these traditions have exhibited an over‐concern with the entrepreneur′s function at the expense of the supply of entrepreneurs, an area which has received only sporadic attention in the literature. It is this supply aspect which is critical to economic development and economists should now devote more attention to it.

The Entrepreneur and Entrepreneurship: A Neoclassical Approach

SSRN Electronic Journal, 2003

This paper attempts to introduce the entrepreneur as the "economic man" into a neoclassical framework and to indicate the role of government in fostering entrepreneurship. The entrepreneur is assumed to behave as if he maximizes utility including his value and desire to succeed, subject to an income constraint, of which his physical effort in subsistent production and entrepreneurial production generate this income. Entrepreneurship, specifically, is defined as an "economic system" that consists of three components: (1) entrepreneurs, who desire to achieve their goals of economic survival and advancement; (2) the social constitution, that the entrepreneur's right of free enterprise is granted; and (3) the government, that has the ability to adjust the economic institutions that can work to protect each individual entrepreneur and to stimulate entrepreneurs' motive to achieve toward fostering of economic development and growth.

The Market for Entrepreneurs: The Story of a Failure

Working papers series. Department of Economics. Universidad Pablo de Olavide.

This work analyses the particular and repeated attempt to introduce the entrepreneur into economic activity through the market for entrepreneurs. We shall examine the few suggestions ― Richard Cantillon, Jean-Baptiste Say, Alfred Marshall and Frank Knight ― that propose it. The analysis of the writings of these authors enables us to draw relevant conclusions from their attempts to develop an economic theory of the entrepreneur from the perspective of the market for entrepreneurs.

Bird, Schjoedt, & Baum, 2012: Entrepreneurs' Behavior: Elucidation and Measurement

No opportunity is exploited nor does any venture come to exist, survive, or grow without entrepreneurs taking action. Axiomatic perhaps, but little understood are what constitute those actions or behaviors of entrepreneurs and if entrepreneurs' behavior is distinguishable. Herein, we attempt to refocus research attention on the human action in venture creation, survival, and early stage growth—the behaviors of opportunity exploitation, what Bhave (1994) called physical and organization creation and what Gartner, Bird, and Starr (1992) called actions toward organization emergence. Because these behaviors follow the largely cognitive processes of opportunity recognition, we would expect that the entrepreneurship literature provides ample evidence of how entrepreneurs act when creating new ventures, but we find instead important shortcomings. Thus, our purpose is to improve research about entrepreneurs' behavior through careful definition of terms, a look at the choices available for behavior " chunk " size, and from a 6-year review of existing work to offer a list of exemplar behaviors that will in some combination distinguish entrepreneurs' behavior from other economic actors. We do not propose a theory of entrepreneurs' behavior nor do we propose a specific method for assessing behavior. Instead we ask future researchers to be more precise in their conceptualizations and particularly in their operationalizations of behavior. Entrepreneurs' Behavior The academic interest in entrepreneurs' behavior focuses on the exploitation of an opportunity and the creation, development, and early growth of a new venture. The focus is on the concrete, theoretically observable actions of individuals (as solo entrepreneurs or as part of a team of entrepreneurs) in the start-up or early stages of organization creation (usually the first 6–7 years). These behaviors are the proximal outcome of traits, knowledge, skills, abilities, cognition (e.g., perceptions, thoughts, mental models, and scripts), motivation, and emotion. Behavior is also the proximal individual-centric cause of venture outcomes (e.g., existence, sales, products, survival, and growth). The major goals of research on entrepreneurs' behavior are to explain, predict, and control (shape and change) behavior at the individual and team level. We would expect that behavior would be a well-researched domain since it occupies a mediating role in the entrepreneurship process Practically, knowledge of entrepreneurs' behavior has value to actors—(1) to entrepreneurs as it allows them to shape and change their behaviors for better outcomes; and (2) to venture stakeholders, such as investors, local governments, and educators, as it allows them to make better investments in new ventures and to better counsel potential and nascent entrepreneurs. Over time, entrepreneurs' behavior often results in innovation, one of the public priorities of the United States (Obama, 2011). Entrepreneurs' creation of new economic activity, new markets, new jobs, and new revenue streams are also relevant for researchers in many fields of study (e.g., economics, public policy, psychology, and management). Academics and practitioners benefit from clarification of the term entrepreneurs' behavior since using common constructs (and operationalizations) allows the field to accumulate more useful knowledge. We define entrepreneurs' behavior as the concrete enactment by individuals (or teams) of tasks or activities such as those named by Carter, Gartner, and Reynolds (1996) (e.g., prepare a business plan, look for facilities, organize a team, hire employees, form a legal entity, and enter a market), which are required in some combination to start and grow most new organizations. As we will argue, behaviors are best understood as discrete units of goal-oriented action that could be observed by others and that are " sized " to be meaningful to both actor and audience.1 For example, filing a patent may be a meaningful and appropriately sized behavior although differences exist between those who fill in forms and