Entrepreneurship: multiple meanings and consequences (original) (raw)
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Fundamental Aspects of the Entrepreneurship in the Contemporary Economic World
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Many individuals in the modern society are considering running their own business as the best option that they have regarding their employment. The progress of small and medium enterprises sector provides huge potential on the absorption capacity of the young labour force.Frequent and rapid changes in the structure of the work program eliminate the idea that an individual has only one job during the entire life. Therefore, people endowed with entrepreneurial skills they have to successfully cope with a new socio-economic context
The relation between entrepreneurship and unemployment has been an interesting topic for researchers for quite some time. In the time of global recession and mass layoffs different countries try to stimulate their residents to work on their ideas and to test themselves on the open market using various forms of subsidizing. It is important to point out that entrepreneurship does not constitute such a social security as employment in large companies. Entrepreneurship is not just a mixture of ideas, desires for success and a trend away from employment, integration with the right business partners and the issues of obtaining the initial capital, but largely also depends on the laws in each country and the infrastructure which this country offers. Countries with better entrepreneurial infrastructure (technology parks, university incubators, etc.) are definitely more open to competition and entrepreneurial activities than others. Globally interesting and internationally comparable study m...
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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.
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African Journal of Business Management, 2018
There continues to be a lack of a commonly agreed perspective of entrepreneurship despite the concept being studied for a long period of time. Definitions of the concept and constructs of study in the field have depended on the researcher's conceptualisation of what constitutes entrepreneurship and as a result there are variations in the study focus and measurement of entrepreneurship. An analysis of literature was therefore conducted to untangle the concept of entrepreneurship towards a common perspective despite similar failed attempts by scholars in the past. The analysis showed that researchers and theorists trace entrepreneurship through the same early theorists that include Cantillon, Say, Marshall, Walker, von Thunen, Menger, von Mises, Schumpeter, Knight, Kirzner, Shane and Venkataraman etc. That means the background to the concept is the same but with varying interpretations. The underlying perspective however is that entrepreneurship is a human behaviour with identifiable driving motives and it requires definitive competencies; skills, knowledge and abilities. The behaviour is purposively exerted, involves various activities and judgmental decisions that are undertaken through a process of identifying, evaluating and exploiting opportunities to create socioeconomic value under conditions of uncertainty. Although the socioeconomic value manifests in new products or services, new sources of supplies, new methods of production, new markets and/or new organisations, it is the new organisation that is commonly recognised as the output of the entrepreneurship process. This perspective narrows and limits the understanding of the concept of entrepreneurship to new and small business ventures with implications on measurement of entrepreneurship. Our analysis shows that all variations of entrepreneurship such as sole entrepreneurship, corporate entrepreneurship, necessity motivated entrepreneurship, opportunity motivated entrepreneurship and social entrepreneurship etc are connected within the broader view of the same concept, thereby presenting a common perspective of entrepreneurship.
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.
Entrepreneurship: Concepts, Theory and Perspective. Introduction
The creation of a country's wealth and dynamism depends upon the competitiveness of its firms and this, in turn, relies fundamentally on the capabilities of its entrepreneurs and managers. The essence of the modern firm lies in the specialization of functions. " The businessmen " that manage economic activity are, in the strictest sense, both managers and entrepreneurs, the latter in a double sense: the individual businessman (independent) and the " corporate entrepreneur " who, without participating significantly in terms of capital, controls the firm. Studying offers of business capabilities requires the differentiation between the functions of entrepreneur, manager and capitalist, although in many cases, the same person may perform all three (table 1). The individual entrepreneur detects or creates business opportunities that he or she then exploits through small and medium-sized firms, normally participating in funding the capital for that firm, carries out the role of arbitrator or simply " sells the idea " of the business project. The " corporate entrepreneur " or the chief executive of large firms must also be considered. This figure is no longer limited to efficiently managing the firm's assets and coordinating and controlling its activities; in the current climate, he or she must anticipate, articulate and manage change. In other words, they must reinvent the firm on a daily basis, creating new enterprise (spin-offs) and develop company networks. When discussing the figure of the corporate businessman, one must also consider the key shareholders that take an active part in the firm, along with managers that share in making up the firm's basic competences.
In search of the meaning of entrepreneurship
Small Business Economics, 1989
This paper is an attempt to build a bridge between the popular and the academic usage of the terms entrepreneur and entrepreneurship, and to identify the raw materials needed to construct an interpretive framework capable of illuminating the nature of entrepreneurship and its role in economic theory. We review briefly the contributions made to this topic by Cantillon, Schumpeter, Schultz and Kirzner. We advance a 'synthetic' definition of the entrepreneur as someone who specializes in taking responsibility for and making judgemental decisions that affect the location, the form, and the use of goods, resources, or institutions. We then conclude with some observations on the basic choice confronting economics regarding the place of entrepreneurship in economic analysis.
The entrepreneurship concept – a short introduction
DOAJ (DOAJ: Directory of Open Access Journals), 2016
The article provides a historic description of how the entrepreneurship concept has developed and now through political initiatives is closing in on higher education. By providing different reference points the article shows that entrepreneurship is not bound to economics and business but instead display divergent meanings depending on context. The article discuss how governmental initiatives, following the policy development in EU and Sweden, has made entrepreneurship a highly contemporary issue for university staff but where the exact meaning of the term is obscured, leaving us unsure of the political agenda driving the implementation. What kind of change the ongoing promotion of entrepreneurship in higher education will lead to is thus still to be revealed where the ambiguity of the term together with connotations of success and progression makes it hard to resist. University staff is therefore encouraged to reading up on the concept, where the article provides a short introduction that might serve as a start.