With Baumol (2010) stating that the term ‘entrepreneurship’ lacks a clear theoretical consensus, this dissertation begins with a holistic exploration of the topic, followed by its characteristics in female-led ventures. McAdam (2012) argues that when discussing entrepreneurial discourse (entrepreneur, entrepreneurship, enterprise) contextual sensitivities must be heeded, as the term can be influenced by industrial, geographic, and cultural dimensions. Furthermore Kerlin (2006) suggests that in the context of developing nations, entrepreneurs may not consider themselves to be entrepreneurs, either because they are unware of the topic or because no such lexicon exists in their language for this practice. Below, we explore several empirical and theoretical viewpoints to define entrepreneurship in a manner that enables valid indicators to be collected and compared across Indian and international perspectives.
For leading theorists Schumpeter (1936) and Drucker (1985), innovation is the basis of entrepreneurship, where a new or alternative combination is generated through the enterprise. This combination may involve the introduction of new markets, methods of production, materials, or services (Schumpeter, 1936). An alternative yet complementary description from Kirzner (2009) focuses exploiting previously untapped opportunities, which according to Shane (2008), differs from Schumpeterian entrepreneurs by being less dependent on knowledge creation and more on alertness. Thus, Kirznerian entrepreneurs can benefit more from information asymmetries, as they are “discoverers of arbitrage opportunities in the market, stumbling upon market disequilibria... for example, undervalued resources or unmet needs” (Levie and Auti...
... middle of paper ...
...arket saturation, and lower bargaining power. Government inaction is also a concern as instead of creating new initiatives to alleviate property, politicians may rely more on entrepreneurs creating their own ventures (George: 2009). Additionally, Hall et al (2012:785) emphasises that when implementing BOP entrepreneurial policies, focusing solely on economic benefits can be counterproductive, arguing that ‘weak institutions coupled with alert entrepreneurs encourage destructive outcomes, especially if policies are based solely on economic indicators.’ Instead, they recommend creating ‘policies that address both economic and social perspectives, which foster more productive entrepreneurial outcomes’ (IBID). Although helpful in analyzing the Bottom of the Pyramid, their work focuses predominantly in Brazil, a capitalist country, which has a different economic structure
Need Writing Help?
Get feedback on grammar, clarity, concision and logic instantly.Check your paper »
- The emerging field of social entrepreneurship calls for a need for new integrated theories to contribute to the discipline and help grow the field. Social Entrepreneurship has been a topic of academic interest for the past few decades; however, there has been little scholarly output in mainstream journals (Short, Moss, & Lumpkin 2009). Social entrepreneurship is commonly defined as “entrepreneurial activity with an embedded social purpose” (Austin et al. 2006). Social entrepreneurs play a role of change agents in society by adopting missions to create and sustain social value.... [tags: social impact, social entrepreneurship]
1552 words (4.4 pages)
- INTRODUCTION Entrepreneurship is a way of life for many people all over the world. This paper aims to present the topic of entrepreneurship and various factors around it. Therefore the term “Entrepreneurship” shall be defined, enterprises started by entrepreneurs shall be introduced and famous entrepreneurs shall also be presented. Though briefly, the topic of how to become an entrepreneur will be looked at. In addition, whilst attempting to do the former, this paper aims to provoke thought in its readers regarding the opportunities and possibilities that embarking in entrepreneurship can afford.... [tags: way of life, various factors, opportunities]
1383 words (4 pages)
- There are wide array of definitions on how to describe Social Entrepreneurship as an agent of change, from numerous essays and articles. But how can one truly be an agent of change. The answer lies into those providing general meaning of entrepreneurs as agents of change, direct to the point features that identify these entrepreneurs, and finally those concentrating on a specific facet that may set apart entrepreneurs to be identified as an “entrepreneur of change”. Firstly, authors use wide variations of different analogies, theories and examples in a way they can best define entrepreneurs as agents of change.... [tags: Entrepreneurship, Entrepreneur, Joseph Schumpeter]
896 words (2.6 pages)
- I believe that being Entrepreneur is an American dream; who would not want to choose their own hours and have a successful business that they could leave behind as a legacy. I also believe that they are very few people that have the skills and qualities to be successful at achieving entrepreneurship; this is partly due to many Entrepreneurs lacking the skills to build around their vision. I thinks that’s why some people believe that entrepreneurs are born and not made, for it is indicated in our assigned reading Entrepreneurship 8th Edition, that the working definition of acquiring and maintain Entrepreneurship is described as ““Entrepreneurship being in the process of cre... [tags: Entrepreneurship]
885 words (2.5 pages)
- (a) Definition of entrepreneurship. Entrepreneurship is defined as being able to develop a business from ground to up, creating new ideas that will be part of a profitable business (Brooks, 2015). It is also the willingness or the capacity of an individual to develop, manage or organize a business along with its risk that the business would fail in order to produce profit. An entrepreneurial spirit of a business man can be described as the ability to take risk and being an innovative fellow. (Business Dictionary, 2015).... [tags: Entrepreneurship, Entrepreneur, Joseph Schumpeter]
1642 words (4.7 pages)
- The third theory that elaborates on this topic is opportunity-based entrepreneurship theory is associated by names such ad Peter Drucker and Howard Stevenson. According to Drucker and Stevenson, entrepreneurs exploit the opportunities before them, be it in technology or new markets, and create transform lives through them (Teece 2013). This assumption contradicts Schumpeter’s premise that entrepreneurs are not responsible for change though their innovation. In this case, it would be safe to point out that both the ability to cause change and notice situations that require change is part of the ‘process’ of entrepreneurship.... [tags: Entrepreneurship, Entrepreneur, Joseph Schumpeter]
1231 words (3.5 pages)
- Faced with the potential opportunity to continue my research into space exploration, it is time for me to prove myself worthy of this grant in order to pursue answers to my very real questions. As a superior researcher, I find that I am most deserving of the chance to be funded to travel back in time and see firsthand what the reaction of the public was to the early space missions, among other possible uses of the trip. Your funding of this mission could be critical in finding out why a large percentage of the population sees space exploration as a “waste of money.” Upon learning why this may be, the information could allow me to help create a more effective space program that has the full s... [tags: Space exploration, NASA]
1562 words (4.5 pages)
- Conclusion of Theoretical and Empirical Contributions By looking at entrepreneurship development literature, there are four main approaches differ in their methodological and conceptual outlooks, they share a common belief that certain attributes exist outside the boundaries of a firm but within a region that contribute to the competitiveness of a new venture that emphasis the important role of existing ecosystem of entrepreneurship. These include work on cluster (Delgado et al., 2010; Marshall, 1920; Porter, 2000), innovative systems (Cooke et al., 1997; Fritsch, 2001), economic geography (Feldman, 2001, 2001; Malecki, 1997), social capital (Westlund & Bolton, 2003), and networks (Sorenson... [tags: Entrepreneurship, Entrepreneur, Saudi Arabia]
1118 words (3.2 pages)
- According to Henry, Hill & Leitch (2003) the word entrepreneur was derived from the French word ‘entreprendre’ which means to undertake, and the first person who introduced and used the word of entrepreneur was Richard Cantillon (1680-1734), an Irish economist. Cantillon defined entrepreneur as a person with the foresight and confidence to work in conditions when costs may be known, but rewards are uncertain (Bridge, O’Neill & Cromie 1998). Therefore, it can be concluded that entrepreneurship demands foresight and willingness to assume risk (Landstrom 1997, cited in Corbetta, Huse & Rovasi 2004).... [tags: Business Entrepreneur Entrepreneurship Essays]
1726 words (4.9 pages)
- Outline I. Introduction A. Critics point to waste and lack of direct impact on individuals II. Benefits A. Environmental 1. Ocean example 2. Ozone depletion a. TOMS and phase-out of harmful chemicals b. Anarctic hole in the ozone layer B. Medical 1. MRI (Magnetic Resonance Imaging) a. Diagnoses b. Phase-out of exploratory surgery 2. Telemedicine 3. Digital breast Biopsy system C. Consumer and other products 1. Robotics 2. Cable television industry 3. Teflon a. Cookware b. Carpets c. Clothing D.... [tags: Space Exploration Essays]
1381 words (3.9 pages)