...create value: - Create new jobs - Create new industries - Provide new ideas and tools to society - Boost economic performance Who is an entrepreneur? * Being an entrepreneur is more than just creating a new business, it also implies: * Taking risks beyond security * Constantly seek new opportunities * Having the tenacity to push an idea through to reality Creativity and innovation General management skills, business know-how, and networks Low High High INVENTOR ENTREPRENEUER PROMOTER MANAGER, ADMINISTRATOR Classical Econ. Vs. Entrepreneurship * Entrepreneurship deals with “disrupting” the existing equilibrium, by creating a new firm/product/service... * Differs from the classical economics viewpoint : In an ideal economy… -Firms cannot influence prices -Products are homogeneous -No entry barriers -No transaction costs -Profits tend to zero “0”… Becoming an entrepreneur Essential ingredients to become an entrepreneur: * The vision to recognize opportunity where others see chaos, contradiction, and confusion. * The fundamental skills of building a solid business plan. * The ability to formulate an effective venture team; the creative skill to marshal needed resources. * The willingness to take calculated risks—in terms of time, equity, or career. Entrepreneurs and Age What is the relationship? * Studies show that successful entrepreneurs are likely to be older...
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...1. Introduction The main objective of this essay is to answer the following question: In the Schumpeterian approach to entrepreneurship, entrepreneurs are the creative economic actors who fashion new ventures by combining the factors of production in new and innovative ways. To what extent does this approach hold true for entrepreneurs in the early 21st century? The basic analysis method consists in finding similarities and differences between Schumpeter’s and modern day theories of entrepreneurship and establishing general patterns coming out of the comparative analysis. We shall try and decompose the main question in several constituent parts. The above given Schumpeter’s definition of entrepreneurship can be broken down as follows: * Entrepreneurs are economic actors, i.e. individuals engaged in commercial activity * Entrepreneurs create new ventures through innovation * Innovation consists in combining existing factors of production in new ways We will analyse both Schumpeter’s and modern day entrepreneurs along these and other dimensions in an attempt to place Schumpeter’s concepts in the realities of the 21st century. 2. Schumpeter’s theory of entrepreneurship Economic development One of Schumpeter’s major life works is his book Theory of Economic Development published first in 1911 in German and then republished in an updated version in 1934 in English (Schumpeter 1934), in which he describes a model of economy where entrepreneurs are the main drivers for change...
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...Research Paper No. 2008/20 Entrepreneurship in Economic Development Wim Naudé * March 2008 Abstract What is the role of entrepreneurship in economic development? At a minimum the answer should be able to explain the role of entrepreneurs in the structural transformation of countries from low income, primary-sector based societies into high-income service and technology based societies. More broadly though, it should also be able to explain the role of entrepreneurs in the opposite pole of stagnating development (including conflict) and in high innovation-driven growth. Although economic development lacks a ‘general theory’ of entrepreneurship, which could encompass a variety of development experiences, much progress has been made in extending the understanding of entrepreneurship in the process of development. This paper surveys the progress with the purpose of distilling the outlines for a more general theory of entrepreneurship in economic development. Entrepreneurship in developing countries remains a relatively under-researched phenomenon, so by surveying the current state of research, and by discussing the role of entrepreneurship in dual economy models of structural transformation and growth, a secondary objective of this paper is to identify avenues for further research. Finally, the policy implications from the economic literature suggest that a case for government support exists, and that this should focus on the quantity, the quality, and the allocation of entrepreneurial...
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...A PROJECT REPORT ON SOCIAL ENTREPRENEURSHIP SUBMITTED BY APOORV CHITNIS FOR THE DEGREE OF THE BACHELOR OF MANAGEMENT STUDIES UNIVERSITY OF MUMBAI UNDER THE GUIDANCE OF PROF. BHUMIKA MORE SIES COLLEGE OF ARTS, SCIENCE AND COMMERCE, NERUL, NAVI MUMBAI-400706 ACADEMIC YEAR 2011-2012 DECLARATION I, APOORV CHITNIS, studying in T.Y.B.M.S, of S.I.E.S COLLEGE OF ARTS, SCIENCE AND COMMERCE, NERUL hereby declare that I have completed the project on SOCIAL ENTREPRENEURSHIP in the year 2011 – 2012 as per the requirements of Mumbai University as a part of Bachelor in Management Studies (B.M.S) programme. DATE: PLACE: NAVI MUMBAI __________________ APOORV CHITNIS CERTIFICATE I, BHUMIKA MORE hereby certify that APOORV CHITNIS student OF S.I.E.S COLLEGE OF ARTS, SCIENCE AND COMMERCE, NERUL has completed his field work project on the topic of “SOCIAL ENTREPRENUERSHIP” in the Academic Year 2011-12. The project is based on bonafide information. _________________ _______________ ______________ Prof. Bhumika More Prof. Smita. R Dr. Rita Basu (Project Guide) (BMS Coordinator) (Principal) ________________ External Examiner ACKNOWLEDGEMENT My thanks to my project guide, Prof. Bhumika More for assisting me in every way possible and gently steering...
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...markets. We also study examples of countries that have failed at this. Some of the more successful countries would be Japan, South Korea and Taiwan. Africa and Afghanistan would be prime examples of countries that still have trouble with underdevelopment. 2. SYNCRETISM- Sil reading. Syncretism is the strategy of Nation building that combines foreign/modern and native/traditional values. Sil believes that in order for a Third World country to move forward, traditions must be reconstructed with newer, more modern ideals. This is significant to Comparative Politics because it is a way of understanding how social mobilization affects modern nation building. 3. ZAIBATSU- Johnson and Fukai reading. Zaibatsu are eastern Asian industrial and financial conglomerates that unleashed entrepreneurship in countries like Japan, South Korea, and Taiwan. They focus capital in developmental projects in underdeveloped countries and constitute compromise between inefficiencies of purely state enterprise and indifference to developmental goals of purely private enterprise. This is significant to Comparative Politics because it started entrepreneurship and encouraged investment in Third World counties. It is also a prime player in the Capitalist Developmental State Model of Japan, South Korea, and Taiwan, and has spread globally. 4. 5 STAGES OF ECONOMIC GROWTH- Rostow...
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...wager. The proposition is that the core problem facing popular movements in the present time is the capitalist system. The wager is that the working class is capable of transforming itself through collective action and organization to the point where it can break capitalism apart and lay out foundations of a new cooperative world community. The proposition and wager provided Marxism with a standard that assessed the whole array of resistance of capitalist power. In Marxist theory, the issue of ‘replacement power’ focuses on the necessity and not simply taking over the state but reorganizing it in ways that were unthinkable. This book addressed broad theoretical questions while critiquing academic social movement theory and interrogating what a Marxist theory of social movements might involve. This book examined how movements actually work, explored the political questions that confront movement participants, and argued understanding of how movements developed. The last part of the book gathered together both comparative historical studies and focused on recent movements against neoliberalism. Big Three in Economics Karl Marx is an Exodus. Marx argues that the pursuit of self-interest would lead to anarchy, crisis, and the dissolution of the private property-based system. Karl Marx broke the bonds of capitalism and tore apart the foundations of Adam Smith’s...
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...Ch 3 Critical Thinking and Discussion Questions 1. Outline why the culture of a country might influence the costs of doing business in that country. Illustrate your answer with examples. Answer: Since in a sense the entire chapter is about this question, there can be numerous reasons and examples of how culture influences the costs of doing business. Several are highlighted in the following sentences, but there could be numerous others. When there are simply different norms between how individuals from different countries interact, the costs of doing business rise as people grapple with unfamiliar ways of doing business. For example, while in the US we may get down to business first, and then get to know each other socially later, in many South American countries it is important develop a good social relationship before trying to discuss business issues. Different class structures and social mobility also raise the costs of doing business. If there are inhibitions against working with people from different classes, then the efficiency with which information can flow may be limited and the cost of running a business increased. A country's religion can also affect the costs of business, as religious values can affect attitudes towards work, entrepreneurship, honesty, fairness, and social responsibility. In Hindu societies where the pursuit of material well-being can be viewed as making spiritual well being less likely, worker productivity may be lower than in nations with...
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... Assignment Topic – Entrepreneurship is merely a special case of Leadership Name:M. M. Tamim Student ID: 11511633 Course Name: Leadership & Entrepreneurship Course Number: MGT 536 Course Instructor: Harpeet Kaur Entrepreneurship is merely a Special Case of Leadership In the worlds science & technology is very important for the people for continuing their activities. Besides business is the term which is also important for the countries all over the world by which people can get their useful products & services. Leadership and entrepreneurship is the two most important term for creating, managing and controlling the organization. Entrepreneurship refers to the process by which some new service or product is being created with taking risks. And the person who maintains the process and takes the risks is called entrepreneur. According to Cantillon R. (circa 1730), entrepreneurship can be defined as a self-employment in which entrepreneur purchase at a certain price and sale at a uncertain price which means an entrepreneur takes risks of uncertainty. Another author Schumpeter (1934) defined entrepreneurship as, “An entrepreneur is a person who is willing and able to convert a new idea or innovation into a successful innovation.” For example, a person wants to manufacture soft drinks which test is different from other brands. So, this is one kinds of entrepreneurship. Generally both entrepreneurship and leadership play important role for the organizations...
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...Social Entrepreneurship and the work that a social entrepreneur does. The Report is a guide to learn Social Entrepreneurship through Handson experience. The Report covers my experience in starting a Social Enterprise, difficulties I encountered during the time and how to make a Social Enterprise a Viable option. This report covers everything from rise of this term Social Entrepreneur, to work done by Social Entrepreneurs, to the Entrepreneurial theories and approaches they follow or must follow. This report also describes several Social Ventures and the people behind those ventures who have brought about a positive social change. Social Entrepreneurship is a relatively new phenomenon and the excitement it has created throughout the world because of the impact it has had is tremendous. This report thus describes what learning social entrepreneurship through hands-on experience is. The Report also lists the various people I contacted for Sponsorship and the manner in which they supported the project. 5 TABLE OF CONTENTS ACKNOWLEDGEMENTS 03 ABSTRACT 04 1. SKILL DEVELOPMENT AND SOCIAL ENTREPRENEURSHIP 06 1.1 INTRODUCTION 1.2 OBJECTIVES 1.3 METHODOLOGY 1.4 DATA COLLECTION 1.5 CHAPTER SCHEME 2. LITERATURE REVIEW 11 3. HISTORY 17 4. MODERN SOCIAL ENTREPRENEURSHIP 22 5. SOME OUTSTANDING EXAMPLES 27 6. THEORIES OF ENTREPRENEURSHIP 33 7. CONCLUSION 38 8. BIBILIOGRAPHY 39 6 CHAPTER-1 SOCIAL ENTREPRENEURSHIP 1.1 INTRODUCTION: Social entrepreneurship is the...
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...Existing Market and E-Business 4 What is Entrepreneurship? 4 What is an Entrepreneur? 5 Who are the potential entrepreneurs? 5 Entrepreneurship as a subject 6 Conclusion 7 Reference List 8 Introduction This literature incorporates relevant quotes and theories from industry (Hospitality and Tourism) journal articles and books in attempt to deliberate: can “Entrepreneurship be taught?” Firstly, in light of the topic the meanings of both ‘entrepreneurship’ and ‘entrepreneurs’ need to be classified to create the foundation for this review. In order to answer whether about if entrepreneurship can even be taught, queries need to be made on what exactly is taught and how can it alter the mind set of attitudes towards creativity and risk; fundamental factors of an entrepreneur. In addition, the demographical target audience will also be reviewed over whether they fit into this reviews’ classification of what is an entrepreneur and whether courses can really be designed to teach the spirit of entrepreneurship. This critical review will seek to divulge the definitions of key points to the question and answer them in an argument that supports the theory that can “Entrepreneurship be taught?” Existing Market and E-Business Entrepreneurship is an important part of todays’ modern, technological and growing environment...
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...document. Tapez le résumé du document ici. Il s’agit généralement d’une courte synthèse du document.] | TABLE OF CONTENT I. INTRODUCTION………………………………………………………Page 2-3 II. ETHNIC ENTREPRENEURSHIP DEFINITION………..Page 4 III. THE CONCEPT…………………………………………………………Page 5-6 IV. ENTREPRENEURIAL THEORY………………………….……Page 7-8-9 V. ETHNIC NICHE…………………………………………………….…..Page 10 VI. CONCLUSION…………………………………………………..…….Page 11 VII. REFERENCES……………………………………………………..…..Page 12-13-14 VIII. APPENDICE…………………………………………………………..Page 15 I. ------------------------------------------------- INTRODUCTION The recent growth of new ethnic populations in Western societies raised lots of issues. In fact, the ethnic activity is not any more a question of historic interest; nor is it the concern of the company. Because new ethnic populations grew at the same time as Western economies, they are in a phase of slow growth and are facing the massive technological challenge; the ethnic adaptation and the mobility are central questions. (Waldinger 1990). In Europe, the activities managed by persons of minority ethnic groups were always present, but changeable historic circumstances increased jutting out to them and visibility during the last decades. First of all, the important immigration of former colonies of Southern Europe and North Africa led to a considerable migration. Secondly, thirty years of economic change caused a fundamental transformation of the labor...
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...and say that everything takes place from different contexts- meaning knowledge exists, but we see it from our lens- essentially to reconcile two seemingly contradictory ideas as ‘two sides of the same coin’. Perspectivism says ‘that reality is independent of human attitudes, beliefs, and values’. In essence, Hikins and Cherwitz’s claim says that while an independent knowledge may exist, we all see from our own context and these all contribute to a better understanding of the knowledge that exists independently of us, but is also influenced by us. This essay will illustrated rhetorical perspectivism in my high school and college educational experiences and the application of the theory in what I’ve observed until today. Hikins and Cherwitz frame this trait as important to the role of modern education....
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...Literature pertaining to entrepreneurial women is very limited. There are numerous books that depict the lives of wage-earning women in Canada; however works on self-employed women are uncommon. The Business of Women- Marriage, Family, and Entrepreneurship in British Columbia, 1901-1951, was written by Melanie Buddle in 2010, under UBC Press. In The Business of Women, Buddle attempts to highlight the key features of entrepreneurial women in the 1900’s in Western Canada, exploring how and why women entered the business world. In this book, Buddle examines case studies and primary documents in order to expose the world of female entrepreneurs. Buddle focuses on issues of gender and class relations that influenced the ability of women to become self-employed. Although the information presented in this book represent the period of 1901 to 1951, I will attempt to draw connections, through the use of a summary and analysis, between the materials presented in this book to 21st century businesswomen. In the first part of The Business of Women, Buddle addresses reasons why women were more likely to be self-employed in British Columbia. Buddle highlights frontier characteristics that depict why a larger proportion of women in British Columbia were married and were self-employed. In British Columbia, women married in higher proportion, compared to the rest of Canada. Many males arrived in British Columbia in the 1850’s during the gold rush and many men settled in Western Canada in order...
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...MCSER-CEMAS-Sapienza University of Rome Vol 2 No 5 July 2013 Challenges and Prospects of Entrepreneurship in Nigeria Okezie A. Ihugba Alex Odii Asoluka C. Njoku Department of Economics, Alvan Ikoku Federal College of Education, Owerri-Imo State, Nigeria Doi:10.5901/ajis.2012.v2n5p25 Abtsract The success of generating income for majority of rural and urban dwellers with no formal paid employment highly depends on Entrepreneurship. They are the backbone of economic development all over the world and play important role for employment, income and societal changes, particularly in transition economies like Nigeria. This paper is concerned with the nature and the extent to which entrepreneurship in Nigeria has been developed so far, and outlines the initiative by government and also the main current and future challenges and perspectives for the development of entrepreneurship. The study revealed that such initiatives by government failed abysmally due to over bearing bureaucracies, corruption, inadequate and inefficient infrastructural facilities and maladministration. The paper concludes that entrepreneurship miracle in other country is an engine for job creation; innovation and diversity and Nigeria’s entrepreneurs have a long way to go before they can effectively drive changes in the economy and recommends that Government (policy makers) should genuine recognize the essence of entrepreneurship to economic development by providing the enabling environment for private sector led investment...
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...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 has two general perspectives on entrepreneurial types and the sources of entrepreneurial opportunities: the Schumpeterian and the Kirznerian perspectives. Schumpeter saw the entrepreneurial opportunity anchored in the alpha individuals of society who are responsible through their superior capabilities of engendering innovative forms of...
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