The Definition Of Academic Entrepreneurship Vs. Academic Entrepreneurship?

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Many authors and scholars have described academic entrepreneurship as the university-level entrepreneurship (Siegal et al, 2003; Wright et al, 2004; Rothaermel et al., 2007). Hence, it is important to define the term “entrepreneurship”, and then distinguish it from academic entrepreneurship. The term “entrepreneurship” has been popular for over two centuries already, and yet considerable disagreement remains over its meaning. Meyer et al., (2002) argue that while there are multiple definitions of entrepreneurship, however the whole entrepreneurship field has not yet come to an agreement of a single definition. But it is noteworthy to mention how different authors and scholars since the 1930’s until 2000’s define entrepreneurship. Schumpeter (1934) has described entrepreneurship as new combinations, including doing new things in a new way, and which include: introduction of a new good; new method of production; opening of a new market; new source of supply; and new organizations. Kirzner (1973) centered his definition of entrepreneurship on the ability of the individual to perceive and seize new opportunities that will tend to “correct” the market and return toward equilibrium. Gartner (1990) identified two schools of thought regarding the meaning of entrepreneurship: one that focuses on the outcomes of entrepreneurship such as value creation, new businesses, new products or services, and the other focuses on the characteristics of entrepreneurship like innovation, growth, uniqueness. Venkataraman (1997)…show more content…
He defines entrepreneurship as a set of actions that combine various resources in order to produce new goods or services. Risk and innovativeness are the characteristics always present in the process, as the outcomes are uncertain and the expected results are not just replica of the existing

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