...When we think of entrepreneurship, we often think of small, start-up firms. Describe how a large corporation in an established industry can be “entrepreneurial” and discuss how Peng’s entrepreneurial strategies apply in this situation. Entrepreneurship as a scholarly field seeks to understand how opportunities to bring into existence future goods and services are discovered created and exploited, by whom and with what consequence (Venkataraman,1997). Entrepreneurship is nothing but the identification of those resources which were previously unexplored. Entrepreneurial opportunities do not only take the form of new products and services, they can also take the form of new methods of production, new raw materials, new ways of organising and new markets. For large corporations in an established industry, entrepreneurship is a big challenge. The companies must innovate and develop new ideas in order to motivate their leaders for entrepreneurship. Two steps must be followed to achieve this goal. Firstly, companies must periodically evaluate its product performance and need to have complete information about the environment in which it is operating. Secondly, in order to achieve success, the companies must experiment with their existing products. They should have their one face focused on the old strategy and the other seeking out the new one. When an existing company starts new venture, it face lot of barriers because it is a risky proposition. They must consider industry’s condition...
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...^ Academy oi Management Review 2000, Vol. 25, No. 1, 217-22G. NOTE THE PROMISE OF ENTREPRENEURSHIP AS A . FIELD OF RESEARCH SCOTT SHANE University of Maryland S. VENKATARAMAN tiniversity of Virginia To date, the phenomenon of entrepreneurship has lacked a conceptual framework. In this note we draw upon previous research conducted in the different social science disciplines and applied fields of business to create a conceptual framework for the field. With this framework we explain a set of empirical phenomena and predict a set of outcomes not explained or predicted by conceptual frameworks already in existence in other fields. For a field of social science to have usefulness, it must have a conceptual framework that explains and predicts a set of empirical phenomena not explained or predicted by conceptual frameworks already in existence in other fields. To date, the phenomenon of entrepreneurship has lacked such a conceptual framework. Rather than explaining and predicting a unique set of empirical phenomena, enfrepreneurship has become a broad label under which a hodgepodge of research is housed. What appears to constitute entrepreneurship research today is some aspect of the setting (e.g., small businesses or new firms), rather than a unique conceptual domain. As a result, many people have had trouble identifying the distinctive contribution of the field to the broader domain of business studies, undermining the field's legitimacy. Researchers in other fields ask...
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...The Promise of Entrepreneurship as a Field of Research Author(s): Scott Shane and S. Venkataraman Source: The Academy of Management Review, Vol. 25, No. 1 (Jan., 2000), pp. 217-226 Published by: Academy of Management Stable URL: http://www.jstor.org/stable/259271 . Accessed: 15/07/2014 10:10 Your use of the JSTOR archive indicates your acceptance of the Terms & Conditions of Use, available at . http://www.jstor.org/page/info/about/policies/terms.jsp . JSTOR is a not-for-profit service that helps scholars, researchers, and students discover, use, and build upon a wide range of content in a trusted digital archive. We use information technology and tools to increase productivity and facilitate new forms of scholarship. For more information about JSTOR, please contact support@jstor.org. . Academy of Management is collaborating with JSTOR to digitize, preserve and extend access to The Academy of Management Review. http://www.jstor.org This content downloaded from 130.37.164.140 on Tue, 15 Jul 2014 10:10:19 AM All use subject to JSTOR Terms and Conditions t Academy of Management Review 2000, Vol. 25, No. 1, 217-226. NOTE AS THE PROMISE OF ENTREPRENEURSHIP A FIELD OF RESEARCH SCOTT SHANE Universityof Maryland S. VENKATARAMAN Universityof Virginia To date, the phenomenon of entrepreneurshiphas lacked a conceptual framework.In social science this note we draw upon previous research conducted in the different disciplines and applied fields...
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...Ramon and I am an exchange student that comes from ESADE University, in Spain. Unfortunately, in Spain -and I guess that in most South-European countries- entrepreneurship is not promoted and people who fail in their entrepreneurial adventures are considered to lack some basic skills. In fact, I applied for the Babson Exchange program because I was aware that this college is considered the best when teaching entrepreneurship and lets students get an idea of what the entrepreneurial attitude is. I felt that it was necessary to state this fact before mentioning the main subject of the paper, in order for the reader to understand my background and my perspectives on the subject. First, I thought that entrepreneurship only consists of creating new businesses, dealing with unforeseen problems that appear when running startups, in addition to the financial issues that appear on the road. I did not feel that entrepreneurship was the way to get rich in a few years, but it was the way to create something sustainable through time and generations. To my view, entrepreneurship was the tool to get into the “business hall of fame”, but after reading the Monk and the Riddle, I have discovered that entrepreneurship is much more than that. Related to this statement, I have discovered that most of entrepreneurship has to do with passion. While reading the fifth chapter (The romance, not the finance), I realized that the most interesting...
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...14 November The recognition of new opportunity is the significant unique behavior for entrepreneurs or managers to ascertain a new business. More especially, Haugh’s (2005) points out that “opportunity recognition is at the very heart of venture creation; some scholars regard opportunity recognition as the basis of entrepreneurship.” It means opportunity recognition is one of the ability to evaluate how entrepreneurs successful in venture creation. Also, opportunity recognition means the perceiving possibility of starting a new business and leading to considerable profit. There are two types opportunity recognition ‘internal perspective’ and ‘external perspective’. Internal perspective means entrepreneurs should make sure that problems and needs identified before make a decision which is risky, but external perspective denotes they should make the decision to start a venture precedes opportunity recognition. Most of entrepreneurs looked at three methods of discovery opportunity recognition ‘active searching’, fortuitous discovery’ and ‘opportunity creation’. However, social capital and human capital might be affected on opportunity recognition when entrepreneur creates a new business. This paper is going to discuss how human capital and social capital influence on each method of discovery opportunity and how those three methods help entrepreneurs to recognize valuable opportunities. The first significant theoretical model of opportunity identification is an active search,...
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...Sustainable entrepreneurship, a field to emerge or not to emerge? Can this contribute to a sustainable future? Introduction Given the current global economic climate and despite its oppressive nature, many scholars have risen and pounced on the consequent opportunities available by taking an interest in the field of sustainable entrepreneurship. Research on sustainable entrepreneurial opportunities is still in its infant topic, which leaves researchers with a lengthy way to explore on this emerging field, but at the same time, it limits the research for this paper. “Sustainable development is a concept that describes the social goal of improving and maintaining human wellbeing over a long-term time horizon within the critical limits of life-sustaining ecosystems”(UN Conference on the Human Environment, 1972). While on the other hand, entrepreneurship is a scholarly field that “seeks to understand how opportunities to bring into existence future goods and services are discovered, created and exploited, by whom and with what consequences. (Venkataraman, 1997). But what if we combine both concepts? Is it possible to combine the profit and social and environmental orientation in one company? (Gawell, 2012) The aim of this paper will be to explore the different definitions form the scholars that have done research this field and also to see how the need of sustainable entrepreneurship has emerged in the last decade as one of the solutions for this unsustainable world. This paper...
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...[pic] How Entrepreneurial is Germany? The Institutional Context of Entrepreneurship and Business Start Up Costs in Germany in International Comparison Abstract The importance of entrepreneurial activities is integral to a nation’s economic growth. This paper reviews the results of the 2000 Global Entrepreneur Monitor (GEM) country report with a sole focus on Germany in evaluating its degree of entrepreneurship. The factors examined include the costs, legal procedures, and institutional context via a look at the formal and informal entrepreneurial frameworks. The view of entrepreneurship in Germany will be explored as well as comparison to other countries in the GEM report. It is found that entrepreneurial activities differ within regions in Germany and the cultural and social norms place a barrier to start-ups despite the government effort in financing and state promotion programs. TABLE OF CONTENTS 1. Introduction……………………………………………………………….3 2. Overview of Germany’s entrepreneurship and international comparison...4 3. Institution context………………………………………………………....6 The regulation of entry……………………………………………………6 Political context- government policies……………………………………8 Human Capital…………………………………………………………….9 Education…..……………………………………………………………10 Psychological and sociological context………………………………….12 Regional context…………………………………………………………15 4. Conclusion……………………………………………………………….18 5. Works cited……………………………………………………………...20 Introduction The German economy...
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...Throughout history companies that survived crisis and maintained sustainability where the ones that could innovate quickly. Opportunities created from innovation have allowed companies to not only sustain market shares but to also expand on them and even enter into new markets. In order for these accomplishments or opportunities to occur, Innovation Concepts are used as a tool within a company. For an entrepreneurial company, it is of utmost importance that these Innovation Concepts be instilled into the culture of the corporation. The most important of all innovation concepts is technology. The main reason behind technology innovation is to provide a company with the ability to stay ahead of completion and thus maintain its sustainability into the future. Technology can be developed from newly discovered ideas or from rethinking how a particular product is used and improving on it. Another reason for Innovation is that it allows for products to be made cheaper while maintaining high quality by continuously upgrade manufacturing equipment to new more efficient and reliable ones. Innovation Concepts associated with product innovation gives companies the ability to offer current customer base with upgraded products to purchase as well allows the company to expand its customer base. Product innovation also allows companies to develop and introduce products offerings outside of its normal product line to its customer base as well as new markets which ultimately sustain...
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...write this essay: The Sources of Entrepreneurial Opportunities: Individuals & the Environment Doctoral Research Paper 2 of 5 Nikolina Fuduric Doctoral Supervisor: Professor Anne Lorentzen February 2008 Department of Planning and Development Aalborg University Aalborg, Denmark 1.0 INTRODUCTION No extensive empirical study on the sources of entrepreneurial opportunities included the individual, the environment and the individual’s start-up activities in a post-socialist periphery. However, such layered approaches have been encouraged in theoretical studies of entrepreneurship. Bouchikhi (1993) claims that each approach taken separately has crucial weaknesses and neither the personality of the entrepreneur nor the structural characteristics of the environment illuminate the process. Thus, multi-leveled studies have been encouraged in research programs (Low & MacMillan, 1988). In my previous paper, I attempted to examine the different forms of entrepreneurship by using the interplay between individual personality traits and capabilities and the institutional environment. The goal of this paper is to examine the sources of entrepreneurial opportunities from the perspective of individual and environmental factors. Since opportunities define how the entrepreneur behaves and what kinds of entrepreneurship are manifested, entrepreneurial opportunity discovery and exploitation are two integral...
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...The Sources of Entrepreneurial Opportunities: Individuals & the Environment Doctoral Research Paper 2 of 5 Nikolina Fuduric Doctoral Supervisor: Professor Anne Lorentzen February 2008 Department of Planning and Development Aalborg University Aalborg, Denmark 1.0 INTRODUCTION No extensive empirical study on the sources of entrepreneurial opportunities included the individual, the environment and the individual’s start-up activities in a post-socialist periphery. However, such layered approaches have been encouraged in theoretical studies of entrepreneurship. Bouchikhi (1993) claims that each approach taken separately has crucial weaknesses and neither the personality of the entrepreneur nor the structural characteristics of the environment illuminate the process. Thus, multi-leveled studies have been encouraged in research programs (Low & MacMillan, 1988). In my previous paper, I attempted to examine the different forms of entrepreneurship by using the interplay between individual personality traits and capabilities and the institutional environment. The goal of this paper is to examine the sources of entrepreneurial opportunities from the perspective of individual and environmental factors. Since opportunities define how the entrepreneur behaves and what kinds of entrepreneurship are manifested, entrepreneurial opportunity discovery and exploitation are two integral parts of the...
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...The Sources of Entrepreneurial Opportunities: Individuals & the Environment Doctoral Research Paper 2 of 5 Nikolina Fuduric Doctoral Supervisor: Professor Anne Lorentzen February 2008 Department of Planning and Development Aalborg University Aalborg, Denmark 1.0 INTRODUCTION No extensive empirical study on the sources of entrepreneurial opportunities included the individual, the environment and the individual’s start-up activities in a post-socialist periphery. However, such layered approaches have been encouraged in theoretical studies of entrepreneurship. Bouchikhi (1993) claims that each approach taken separately has crucial weaknesses and neither the personality of the entrepreneur nor the structural characteristics of the environment illuminate the process. Thus, multi-leveled studies have been encouraged in research programs (Low & MacMillan, 1988). In my previous paper, I attempted to examine the different forms of entrepreneurship by using the interplay between individual personality traits and capabilities and the institutional environment. The goal of this paper is to examine the sources of entrepreneurial opportunities from the perspective of individual and environmental factors. Since opportunities define how the entrepreneur behaves and what kinds of entrepreneurship are manifested, entrepreneurial opportunity discovery and exploitation are two integral parts of the entrepreneurial process.[1] The field of entrepreneurship...
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...Image Cafe Summary: Clarence Wooten, Jr. is the founder and CEO of Image Cafe which the World's first online superstore of pre-fabricated websites for small businesses. When he was a child, his childhood dream was become a rich man. He did a lot of things about his hobbies and interests. He was fascinated video games, then he discovered the game cartridges were too expensive for him to buying. Therefore, he found the computers did not require the cartridges to play. He learned the computer games could be transferred. When he was 12, Wooten became so immersed the computer world. He parents banned him using computer. However, he became an athletic when his high school career but Wooten never lost interest in the computer. Both of his parents become self-employed when Wooten was a teenager. The income of his family was depending on the success of his parent own business but it was just small business. He moved to transfer to different school systems but eight times. Transitioning is hard for him. However, he quickly solved this problem. He want his life can be succeed. Wooten and his group members used the computers to crack anticopying features enabling electronic games to be duplicated. Wooten had become well known as part of competitive and cream of the crop computer underworld. He started his interest which is his love of video games. He became obsessed with acquiring more and more games quickly. The group was a team. They developed the software was distributed to pirates...
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...Entrepreneurship and Poverty Alleviation: An Empirical Study Nawal Meraj Syeda Ayesha Sadruddin Rahat Shams Business Ethics Dr. Muhammad Asim 11th May, 2015 ACKNOWLEDGEMENT We would also like to thank our colleagues from New York University, Abu Dhabi, who provided insight and expertise that greatly assisted the research, although they may not agree with all of the interpretations/conclusions of this paper. We would also like to show our highest gratitude to the Dr. Muhammad Asim for sharing his pearls of wisdom with us during the course of this research and guiding us throughout the course work. Table of Contents ABSTRACT 2 Keywords Error! Bookmark not defined. 1.0 INTRODUCION 2 2.0 CONCEPTUAL FRAMEWORKAND BACKGROUND OF THE STUDY 2 2.1 Concept of Poverty 2 2.2 Concept of Entrepreneurship 2 2.3 GDP Growth and Poverty Reduction 2 2.4 Strategies for Reducing Poverty through Entrepreneurship 2 2.5 Relieving Poverty through Entrepreneurship Education 2 3.0 METHODOLOGY OF THE STUDY 2 4.0 EMPIRICAL REVIEWS ON ENTREPRENEURSHIP AND POVERTY ALLEVIATION 2 5.0 CONCLUSION 2 6.0 FUTURE RESEARCH 2 REFERENCES 2 ABSTRACT Entrepreneurship is a real wellspring of riches and employment creation, financial and mechanical development and an indication of social change. Entrepreneurs have intermittently acquired a place in the discussions of drivers of economic development. Over the world, countries that made entrepreneurship...
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...entrepreneurs are born or made. It will therefore justify with persuasive evidence that entrepreneurs are made. Finally a conclusion will be drawn. The entrepreneur character is one of the characters which strongly influence business around the world. This explains the need to understand the profile of such a character. An entrepreneur is a person who creates a new business, taking risks in achieving the objectives which they propose, to make profits and growth by identifying some important opportunities. An entrepreneur manages important resources, which he or she draws from different sources on a major power to persuade those who hold them. Many experts have sought to understand and describe the personality of the entrepreneur, because, although many people have good ideas to start a business, some turn these ideas into concrete businesses (Shapiro 1975). Burdus (3, 2007) An entrepreneur is said to be "a person with leadership qualities, able to take risks in order to exploit certain opportunities, their enthusiasm is based more on personal forces which leads to the development of strategies based almost entirely on personal interests. Entrepreneurs exist and are able to maintain their existence because they possess certain characteristics”. Burdus (2007) highlighted some characteristics which enable...
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...Are Entrepreneurs Born or Bred? Academics currently debate whether entrepreneurs are born or do they develop with the help of their environment. It is a big debate today and the reason is simple. Governments and think tanks today are struggling with this question because entrepreneurial creativity and innovation leads to a phenomenon at the centre of any economic theory - job creation. Governments want to know whether entrepreneurs can be trained and if they can, what can the government do to advance those skill sets in the systems. If entrepreneurs are born, then what are the factors which influence it? Is good milk and honey the answer? To date there has been no solid, widely applicable correlations between successful entrepreneur and personality traits, which are fixed. However, much is written and known about the behaviour of hundreds of successful entrepreneurs, no theory proves to highlight a particular personality trait of these successful people which can be described as key to their success. Where we read that Virgins Branson’s mother raised them to be “self reliant and responsible…taking control of their destiny”, the same Branson had to learn to use his network. As his magazine business grew, he came to rely on his childhood friend Powell. This turned out to be one of the most fruitful and calculated commercial marriages for Branson. Branson learnt that building a reliable team is as good as being self reliant. Similarly to date there also hasn’t been a theory...
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