Entrepreneurship involves organizing managing and assuming the risks pertaining to your enterprise etc. And an entrepreneur is one who is involved in ALL of these?
Answers
Answer:
Whilst there is no universally accepted definition of entrepreneurship, it is fair to say that it is multi-dimensional. It involves analyzing people and their actions together with the ways in which they interact with their environments, be these social, economic, or political, and the institutional, policy, and legal frameworks that help define and legitimize human activities. – Blackburn (2011, p. xiii)
Entrepreneurship involves such a range of activities and levels of analysis that no single definition is definitive. – Lichtenstein (2011, p. 472)
It is complex, chaotic, and lacks any notion of linearity. As educators, we have the responsibility to develop our students’ discovery, reasoning, and implementation skills so they may excel in highly uncertain environments. – Neck and Greene (2011, p. 55)
Learning Objectives
After completing this chapter you will be able to
Examine the challenges associated with defining the concepts of entrepreneur and entrepreneurshipDiscuss how the evolution of entrepreneurship thought has influenced how we view the concept of entrepreneurship todayDiscuss how the list of basic questions in entrepreneurship research can be expanded to include research inquiries that are important in today’s worldDiscuss how the concepts of entrepreneurial uniqueness, entrepreneurial personality traits, and entrepreneurial cognitions can help society improve its support for entrepreneurshipApply the general venturing script to the study of entrepreneurship
Overview
This chapter provides you with an overview of entrepreneurship and of the language of entrepreneurship. The challenges associated with defining entrepreneur and entrepreneurship are explored, as is an overview of how entrepreneurship can be studied.
The objective is to enable you to apply current concepts in entrepreneurship to the evaluation of entrepreneurs, their ventures, and the venturing environment. You will develop skills, including the capability to add value in the new venture sector of the economy. You will acquire and practice evaluation skills useful in consulting, advising, and making new venture decisions.
Entrepreneurs and EntrepreneurshipConsiderations Influencing Definitions of Entrepreneur and Entrepreneurship
It is necessary to be able to determine exactly who entrepreneurs are before we can, among other things, study them, count them, provide special loans for them, and calculate how and how much they contribute to our economy.
Does someone need to start a business from scratch to be called an entrepreneur?Can we call someone an entrepreneur if they bought an ongoing business from someone else or took over the operations of a family business from their parents?If someone starts a small business and never needs to hire employees, can they be called an entrepreneur?If someone buys a business but hires professional managers to run it so they don’t have to be involved in the operations, are they an entrepreneur?Is someone an entrepreneur if they buy into a franchise so they can follow a well-established formula for running the operation?Is someone an entrepreneur because of what they do or because of how they think?Can someone be an entrepreneur without owning their own business?Can a person be an entrepreneur because of the nature of the work that they do within a large corporation?
It is also necessary to fully understand what we mean by entrepreneurship before we can study the concept.
Gartner (1990) identified 90 attributes that showed up in definitions of entrepreneurs and entrepreneurship provided by entrepreneurs and other experts in the field. The following are a few of these attributes: