... or contradict the definitions of entrepreneur and entrepreneurship in the academic literature. ENSI101 Submitted by: Marvin Johnson (33936056) 1/18/2016 Word Count: 1,074 Title – MICHAELMAS TERM ESSAY 2015-16 There are countless discrete views on how entrepreneurs and the concept of entrepreneurship can be identified. This is largely due to the immense opinionated culture of the concept. We can see from Gartner’s (1988) perspective that an entrepreneur is simply identified by their ability to create an organization. This definition was further developed by Shane and Venkataraman (2000), who took into account businesses which were already established and defined entrepreneurs as individual who found an opportunity and exploited them effectively. However, this was largely criticised as many argue that an entrepreneur is set apart from non-entrepreneurs by their distinct traits and characteristics, which thereby has an influence on an entrepreneur’s success (Pokrajcic, 2004). Despite, these contradicting definitions they all play a significant role in identifying whether or not certain people can be classified as so-called entrepreneurs. This essay will build up on the different types of definitions for entrepreneurs and...
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...Discuss the relationship between entrepreneurship, innovation and economic development. What role do creativity and problem solving play in this relationship? Refer to both theories and examples from the business world to support your discussion. Since last century, entrepreneurship and innovation have been heavily discussed. Entrepreneurs create new business and provide the job opportunities to society as well as promote the economic development. However, with the increasing global economic competition, normal entrepreneurship becomes less competitiveness, government committed to develop innovative entrepreneurship in recent years (Cukier, 2006). Therefore, the relationship between innovation and entrepreneurship becomes one of the most significant topics in the business field. Economists do a large number of researches to explore the connection between entrepreneurship and innovation as well as the position they related in economic development. During the process of exploring, a considerable amount of definitions are put forward by experts based on their research knowledge and the analysis of entrepreneurs developed in recent decades. This essay will list the definitions put forward by different economists, then support the ideas that innovation, entrepreneurship and economic development are deeply connected and interacted. Finally, combine with the experience of university group entrepreneurship project, attempt to explain importance role that the creativity and problem...
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...critically comment on the following blog written by fourth grade high school students in Ohio discussing entrepreneurship: “ - Entrepreneurship is one of the most important parts of economics in a freeenterprise system. - An entrepreneur is a person that creates, organises and manages a business while trying to make a profit. The first thing an entrepreneur needs to do is to think of an idea. They have to be inquirers so they can gather as much information as possible. They need to constantly reflect on their decisions. They must be risk-takers because there is always a chance that their business will not succeed. They must be open-minded when presenting their ideas and receiving feedback. Entrepreneurs must be good communicators when sharing their ideas with investors and when advertising and promoting their company. They must also be principled and caring towards their employees and customers. - By being hardworking entrepreneurs, we all have the opportunity to be very successful.” 2 The essay examines the importance of entrepreneurship within the economy, core elements of entrepreneurship, and how entrepreneurial behaviour and certain character traits impact success. The investigation is based on statements about entrepreneurship given by fourth grade high school students in Ohio. The essay will argue that entrepreneurship is an essential part of economics in a free-enterprise system. Furthermore, it will point out that an entrepreneur...
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...Entrepreneurship As for entrepreneurship and entrepreneur, there neither is a legal framework in place as how to use them, nor is it defined as a legal term. Various authors and institutions tried to tackle that uncertainty by describing entrepreneurship, some of those illustrations are shown in the following paragraphs. Arcs, & Audretsch (2010: 2-5) provide the reader with an overview of multifarious definitions of entrepreneurship, which can be found in the scientific literature and which are provided by several institutions. For example they refer to the Academy of Management(AM), an international organisation, which operates in over 106 countries and has 18000 members. This organisation defines entrepreneurship very wide. They perceive entrepreneurship in connection with many other fields; two of the many themes the AM deals with are for example the ecological impact and management succession. On the other hand it is important to note the Academy’s entrepreneurship division exclusively handles small businesses, family businesses and new businesses, which means it excludes entrepreneurship in major non-family business....
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...What is social entrepreneurship? The animation is made to explain the concept of social entrepreneurship to the general public and raise awareness of the importance of this type of business.... Social entrepreneurship is the attempt to draw upon business techniques to find solutions to social problems.This concept may be applied to a variety of organizations with different sizes, aims, and beliefs. Conventional entrepreneurs typically measure performance in profit and return, but social entrepreneurs also take into account a positive return to society. Social entrepreneurship typically attempts to further broad social, cultural, and environmental goals is often associated with the voluntary sector. At times, profit also may be a consideration for certain companies or other social enterprises. There are continuing arguments over precisely who counts as a social entrepreneur. Thus far, there has been no consensus on the definition of social entrepreneurship, so many different sorts of fields and disciplines are associated with social entrepreneurship. Philanthropists, social activists, environmentalists, and other socially oriented practitioners are referred to as social entrepreneurs. For a clearer definition of what social entrepreneurship entails, it is necessary to set the function of social entrepreneurship apart from other socially oriented activities and identify the boundaries within which social entrepreneurs operate.[4] Some have advocated restricting the term...
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...companies which who succeed in entrepreneurship by new innovation and creation. This paper has two parts, first part explains about entrepreneurship by quoting some famous definition. Second part illustrates a short discussion about the examples that I choose to define the entrepreneurship the best. The examples that I select for doing this research is Nike and Apple the famous American multinational companies. The second part explains about the principles of entrepreneurship in relation to these companies. Last part illustrates the recommendation and conclusion that I reached at the end of this research. 2. WHAT IS ENTREPRENEURSHIP? According to < Coulter, M., (2003), 2nd Edition > Entrepreneurship involves creating change to adjusting, adapting and modifying one’s personal repertoire, approaches and skills to meet different opportunities available in the environment. The definitions of entrepreneurship help to obtain a clearer understanding of what is involved. According to < Morris 1998 > Entrepreneurship is concerned with unique combinations of resources that make existing methods or products obsolete which led to new innovation. Entrepreneurship is the skill and risk taking ability of an individual person or a group of people to combine the factors of production to produce a good or service < Kuratkao, D. F. and Hodgetts, R. M., (2007), Book -Entrepreneurship: Theory, Process, and Practice >. In economics, entrepreneurship combined with land, labour...
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...THE FIELD OF RESEARCH IN ENTREPRENEURSHIP CHIRSTIAN BRUYAT ´ Universite de Grenoble, Grenoble, France ´ PIERRE-ANDRE JULIEN ` ` ´ ´ Universite du Quebec a Trois-Rivieres, ` Tros-Rivieres, Quebec, Canada Although the field of entrepreneurship is recognized as being of fundamental importance for our economy, and although many researchers throughout the world have turned their attention to it, there is, as yet, no agreement as to the research object in this scientific field. Empirical research has described the phenomenon from different standpoints. It has also shown that the phenomenon is much more complex and heterogeneous than was thought in the 1980s. However, to advance knowledge and produce tools that are useful in practice, it has become necessary to establish theories that will generate more productive empirical research. Some effort at definition is therefore needed. The definition proposed here takes a constructivist stance, and is at the service of a research project— that of understanding or forecasting the entrepreneurial act and its success or failure, and defining more accurately the environmental conditions favourable to that act. Here, the scientific object studied in the field of entrepreneurship is the dialogic between individual and new value creation, within an ongoing process and within an environment that has specific characteristics. This definition emphasizes the fact that we will not understand the phenomenon of entrepreneurship if we do not consider the...
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...Introduction to Entrepreneurship Session 1 Olivier Witmeur September 2011 2 Desired outcomes of the session • • • • Introduce the course Tour de table What is entrepreneurship, what are the key constructs Who is the entrepreneur • AGENDA 1. Introduction 2. Course design and organisation 3. About entrepreneurs 4. What entrepreneurship is GEST-S547 - 2011-2012 © Olivier Witmeur 3 1. INTRODUCTION 4 What have these companies in common? • • • • • • • Delhaize , Colruyt, Leclerc, Sears & Roebuck Solvay, Pfizer, Yves Rocher Citroen, Renault, Ferrari McKinsey, Deloitte & Touche, JP Morgan McDonald, Neuhaus Dell, Hewlett-Packard Siemens, Dyson GEST-S547 - 2011-2012 © Olivier Witmeur 5 Examples of successfull entrepreneurs GEST-S547 - 2011-2012 © Olivier Witmeur 6 Entrepreneurship is … (3 minutes) GEST-S547 - 2011-2012 © Olivier Witmeur 7 La laiterie du Berger – Danone Latitudes GEST-S547 - 2011-2012 © Olivier Witmeur 8 2. COURSE DESIGN 9 Desired outcomes of the course • Understand why entrepreneurship matters • Introduce key-concepts and best practices in various settings • Develop your entrepreneurial mindset • At the end of the course each student must be able to: – Assess entrepreneurial opportunities in various contexts – Identify and master the main challenges associated with their exploitation – Understand when and where entrepreneurial management style is relevant ...
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...What is entrepreneurship? Introduction Entrepreneurship is also known as helping to create healthy and profitable competition in the market, but what is the entrepreneurship? There is no standard answer. The purpose of this article is to defining the entrepreneurship by integrating the existing theory. At first, reviewing the origin of entrepreneurship, nothing generated without reason, critically analyzing the origin will promote to understand the meaning of entrepreneurship. Secondly, defining entrepreneurship by combine the different theory and taking examples to support definition. The origin of entrepreneurship Entrepreneurship was developed from “entrepreneur”, with the development of economic, how to operate a firm and how to do better than a chief executive officer was consider in 16th century, economists made attempt to study in depth about chief executive officer and come up with “entrepreneur”. Although at that time, this word “entrepreneur” was not existent, economists still realized this phenomenon and tried to describe it. As a factor in microeconomics, entrepreneur, was study by several scholars and until the 1723, this word was represented by Cantillon (Muljadi Paul, 2000, p.5). The economic development promote to establish a company, therefore, the word “entrepreneur” was born. Cantillon (1755) indicated that entrepreneur is a risk taker and profit taker, they try their best to make profit by grabbing the opportunity. Cantillon was a pioneer of study entrepreneur...
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...1.) What is the fundamental purpose of this book – and, it follows, of the course? The fundamental purpose of this book is to teach us the great importance of corporate entrepreneurship and innovation that helps companies sustain their competitive advantage. Companies today know that they must be faster, more flexible, more aggressive and more innovative in order to maintain the competitive edge. The focus is on creating work environments where entrepreneurship is not the exception, it is the norm. Therefore, the purpose of this course is to teach and challenge us to develop and defend our opinions regarding the matters related to corporate entrepreneurship. We will then take these ideas, concepts, tools, and frameworks to which they are exposed and apply them in a series of real world cases and contexts. 2.) What, then, is the fundamental choice that established companies are being faced with? The fundamental choice that established companies are being faced with is the choice of whether or not to start using “new management thinking” or sticking to their old methods. Companies today are forced to be able to adapt, adjust and redefine themselves to be able to sustain their competitive advantage. They must continually accept new ideas, methods, and things that haven’t been tried before. The only way to sustain that competitive advantage or get a jump on the competition is to be continually innovative in coming up with new bright ideas. 3.) What are the two key...
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...A brief discussion of the relationship between entrepreneurship, innovation and economic development as well as the role of sustainability in the relationship Introduction: The origin and development on theory As early as the 17th century, the French term "entreprendre "appeared in economics, which evolved into "entrepreneur" as commonly used (Dees,1998). The concept of entrepreneur keeps on developing and varies with the development of socio-economics. Richard Cantillon published his in 1775 “Essay on the Nature of Trade in General" (Murphy,1986). Since then, entrepreneurship was given a definition in the perspective of behavior, including decision-making, sound judgment, supervision of production, innovation, and resource reallocation (Herron, 1993). The new definition of the "entrepreneur" credited by French economists was put by Jean Baptiste in the 19th century "the entrepreneur shifts economic resources out of an area of lower and into an area of higher productivity and greater yield". In this time, entrepreneurship was given the meaning of "creating values"(Dees, 1998). In 1911, “entrepreneur as innovator” was put forward by Schumpeter. In his theory, entrepreneurship nearly the same as innovation is thought to be a critical factor in the promotion of economic development. This theory was unceasingly completed by Schumpeter. Through the process of “disruptive innovation” (Schumpeter, 1942), entrepreneurs create economic opportunities and obtain economic benefits by causing...
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...Introduction In first look, Globalization, internet & entrepreneurship have a weak relation with each other. But if you observe more precision, you can find many relation between them. For example Globalization accelerates the change of technology. Every day it seems that a new technological innovation is being created. The pace of change occurs so rapidly many people are always playing catch up, trying to purchase or update their new devices. Technology is now the forefront of the modern world creating new jobs, innovations, and networking sites to allow individuals to connect globally. All of Globalization, internet & entrepreneurship terms are very popular nowadays but many people don’t know the real meaning of them and the relationship between them. In this article we try to clear the relations. First of all, we have to define the terms. Globalization The most important term in this subject is globalization. Globalization is only a description, describing the state humanity is in right now. It is not simply an economical term, it affects our whole life. It means that we are all interconnected, and physically we are like individual cells of the same body. It is a state we arrived through our evolution, and it is a state we cannot escape. Globalization doesn’t have a clear & brief definition but according to business dictionary globalization means “The worldwide movement toward economic, financial, trade, and communications integration. Globalization implies the opening...
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...internal locus of control and more. I will be finding out if successful entrepreneurship is based upon the personalities of individuals or not. Previously, I was never really into entrepreneurship until I started college a few years ago. Having done a fashion design course with sewing and marketing experience, this really made me think about starting my own fashion business in the near future. I had the privilege of gaining further experience and knowledge about the fashion industry through work experience with designers and working at London Fashion Week. This enabled me to talk to designers and have an insight on how they became successful as it is a hard market to have a breakthrough in. Having seen how other designers started out, even with minimal experience and no further education made me more determined to make my dream a reality considering I had experience and now in further education to obtain a degree. On the other hand, there is no success manual in becoming an entrepreneur, therefore I believe it depends on character and personality traits life has taught people, rather than the type of person you have been since birth. In this assignment I hope to find out the answer to the assignment title. Various authors have written and given several different definitions of the word entrepreneur or entrepreneurship. However, the term entrepreneur can never fully be defined in one way. The definition that I agree with the most is...
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...Nottingham University Business School Undergraduate Programmes TITLE OF MODULE: Entrepreneurship and Business (N11440 MY) Title of Work: Discuss the relationship between entrepreneurship, innovation and economic development. What role if any do creativity and problem solving play in this relationship? Refer to both theory and examples from the business world to support your discussion COPY 1 TITLE OF MODULE: Entrepreneurship and Business (N11440 MY) Title of Work: Discuss the relationship between entrepreneurship, innovation and economic development. What role if any do creativity and problem solving play in this relationship? Refer to both theory and examples from the business world to support your discussion COPY 2 Austrian writer, professor, management consultant and self-described “social ecologist,” Peter F. Drucker once said “Innovation is the specific instrument of entrepreneurship. The act that endows resources with a new capacity to create wealth.” (BrainyQuote, 2014) This essay aims to show how innovation, entrepreneurship and economic development are all linked together as shown in the statement above. Even though many a time the spotlight has been shined on entrepreneurship as the propellant towards success, there are still many factors that have to be taken into account such as creativity and problem solving skills...
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...J Manag Gov DOI 10.1007/s10997-010-9154-1 Internationalization, innovation and entrepreneurship: business models for new technology-based firms Alberto Onetti • Antonella Zucchella • Marian V. Jones • Patricia P. McDougall-Covin Ó Springer Science+Business Media, LLC. 2010 Abstract New technology-based firms, particularly those that develop their business around a new technological platform, are likely to be impacted by globalization, in terms of both pace of innovation and pressure of competition. For these firms, strategic decisions and growth processes are characterized by a deep interrelationship amongst the processes of internationalization, innovation and entrepreneurship; processes which have tended to be examined independently in distinct bodies of literature. In practice strategic decisions concern each of these processes and address issues such as organizational boundaries, location of the operational activities, what activities to focus on and selection of value partners. The business model by which firms operate needs also to accommodate the spatial dimensions indicated by globalization; and the emergence of global technology markets. Little is known to date about the extent to which business models accommodate or are adapted to internationalization, innovation and entrepreneurship. This paper presents a review of the business model literature from which a generic business model framework is derived, identifying and introducing the main elements...
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