Entrepreneurship and new firm development: A definitional introduction (original) (raw)

Entrepreneurship and entrepreneur A review of literature concepts

African Journal of Business Management Vol. 6(10), pp. 3570-3575, 2012

The field of entrepreneurship is still a relative one that is less explored, and many opinions in regard to defining the concepts of entrepreneurship and entrepreneurs remain the same. A trial was made by this paper to explore the diversity of concepts identified in specialty literature, and this was approached in their historical evolution. Entrepreneurship entails forming a new organization or restructuring an organization which has already been in existence. It is often a complicated enterprise, so, consequently, numerous enterprises find loads of difficulties in survival. This is an entirely different field involving unique personality traits on the part of the entrepreneur, such as good communication skills, patience, foresightedness, and many more traits, which heads his personality to a brighter side. We believe in opportunities for advancing understanding on the historical role of culture and values on entrepreneurial behavior, using more careful methodologies than in the past, and seeking to specify more exactly how important culture is relative to other variables. There still are major opportunities to complement research on the role of institutions in economic growth by exploring the precise relationship between institutions and entrepreneurs. Finally, conclusions are drawn and some future research directions outlined.

DINAMICS OF THE ENTREPRENEURSHIP CONCEPT. LITERATURE REVIEW

The purpose of this theoretical paper is to analyze the concept of entrepreneurship while following the approaches taken by scholars over time in this field of research. Four entrepreneurship theories which are relevant for the analysis and practice of entrepreneurship will be explained and compared. In a continuously and rapidly changing world, like the one today, information and knowledge seem to be of most interest for entrepreneurs. The current central element of entrepreneurship within the academic world is considered to be the notion of opportunity. Nonetheless, this has not always been the situation in entrepreneurship research and as a result, during this paper I will follow the evolution of entrepreneurship as a concept and I will point out a series of findings relevant for its analysis and practice. Consequently, I have considered choosing two theories focused on the notion of opportunity, namely Drucker's theory of entrepreneurship and Burt's theory of entrepreneurship. Additionally, I have used Schumpeter's theory of entrepreneurship because of its major influence over both the theoretical and practical aspects of entrepreneurship and von Hayek's theory of entrepreneurship because of its role in signalizing the significance of practical knowledge within the research of entrepreneurship. Each of these four theories is analyzed and strengths and drawbacks are pointed out. The comparison which resumes the paper takes into consideration the theories authors' profiles, their backgrounds and the moment in time when the theories have been stated. It will be possible for the reader to observe that the concept of entrepreneurship has changed in time and implicitly the trend in entrepreneurship research has altered from a theoretical approach to a much more practical one. The main driver for this change was the business environment, which was forced to continuously search for improvement measures in order to survive. These improvement measures relied always on discovering new opportunities and therefore, nowadays the scholars worldwide consider the notion of opportunity to be the paramount element of entrepreneurship.

An Outline of the Concept of Entrepreneur: Tradition and Modernity

Research in Applied Economics, 2012

To be an entrepreneur supposes a special sense of forecast, a certain attitude regarding the activity carried out as well as unique responsibilities. Over time, a problem in entrepreneurship research has been the difficulty of defining the concept of entrepreneurship. Therefore, inquiries into the evolution of this concept have become one of the most popular fields of research in management studies. This paper presents a historical outline of entrepreneurship from a conceptual perspective, concentrating on whether past and current entrepreneurship theories can adequately embrace forms and patterns of entrepreneurship.

THE ENTREPRENEUR AND ENTREPRENEURSHIP: OPERATIONAL DEFINITIONS OF THEIR ROLE IN SOCIETY

1998

The role of the entrepreneur in society is difficult to establish if the concept of entrepreneurship is inadequately defined. This lack of a clear entrepreneurship paradigm poses problems for both policy makers and for academics. This paper proposes an operational definition of the entrepreneur and entrepreneurship, synthesizing past definitions into operationalizable constructs. Entrepreneurship is the pursuit of a discontinuous opportunity involving the creation of an organization (or sub-organization) with the expectation of value creation to the participants. The entrepreneur is the individual (or team) that identifies the opportunity, gathers the necessary resources, creates and is ultimately responsible for the performance of the organization. Therefore, entrepreneurship is the means by which new organizations are formed with their resultant job and wealth creation. A critical component of the proposed definition is the necessary condition that the organization created actually provides goods and/or services to society, not merely for internal consumption. Clearly this definition favors the behavioral school of thought on entrepreneurship, but it should not be taken to discount the importance of the traits and characteristics of the entrepreneur from the perspective of their propensity to act. Although growth, innovation, and tenacity to overcome hurdles are commonly cited as elements of entrepreneurship, we argue that these are consequences, not antecedents, to entrepreneurial activity.

A THEORETICAL PREMISEOF ENTREPRENEURSHIP

Shodha Saritha, 2021

Entrepreneurship is considered a major factor in the progress of an economy. Governments are encouraging and supporting entrepreneurship critically, as it leads to productivity and profitability for the community and country. The sides of deliberations on entrepreneurship literature are whether entrepreneurship is learned or not. This discussion lies between the ends of "entrepreneurs are born", and "entrepreneurs can be made". In reaching a conclusion between these two points of discourse, there are policy efforts and instruments in terms of programs and sustaining institutions to create and sustain entrepreneurship. The support for this view comes from an appraisal of wide literature on entrepreneurship and business creation, suggesting important links between entrepreneurship education, training and development programs, business creation, and entrepreneurial outcomes. The development of an entrepreneur means inculcating entrepreneurial traits in a person, imparting essential knowledge, developing technical, managerial, financial, and marketing skills, and building an entrepreneurial attitude. In this milieu, the present paper is an attempt to review the accessible literature and theories on Entrepreneurship. The main objective of the paper is to understand and construct a theoretical background so as to reach a conclusion on entrepreneurship and its development. To achieve this purpose, the authors make use of relevant secondary data sources related to entrepreneurship. An outcome paper reveals that entrepreneurship is a broad-based discipline that borrows ideologies and can be evolved through systematic and holistic efforts.

Entrepreneurship: introduction

Psicothema, 2011

Many investigators from diverse perspectives focus their studies on the area of entrepreneurship due to its important role as an engine of economic and social development. The aim of this monograph is to provide an overview of the state of entrepreneurship research. It presents the controversy about the domain of the study and whether entrepreneurship can be considered a legitimate field of knowledge. We study the aspects that differentiate people who are entrepreneurs from those who are not from the perspective of cognitive psychology and we discuss the role of entrepreneurial education. The work is also an attempt to understand the factors that determine the durability of a company such as resources, location, personality traits, strategies, organizational systems, etc. Lastly, we examine the reality of entrepreneurship research in Spain.