what is entrepreneurship

Introduction

Entrepreneurship is a multifaceted concept that has been explored from various perspectives in academic literature. It generally involves the creation of new ventures, the identification and exploitation of opportunities, and the assumption of risks. This synthesis aims to provide a cohesive understanding of entrepreneurship by summarizing key insights from multiple research papers.

Key Insights

Creation of Organizations:
- Entrepreneurship is fundamentally about creating new organizations, differentiating entrepreneurs from non-entrepreneurs by their role in organization creation .
Risk and Uncertainty:
- Entrepreneurs are characterized by their willingness to take on risk and uncertainty, which is a central theme in many definitions of entrepreneurship .
Innovation and Opportunity:
- Entrepreneurship involves the identification, evaluation, and exploitation of opportunities, often leading to innovation and new product development .
Strategic Posture and Firm Behavior:
- At the organizational level, entrepreneurship is seen as a strategic posture involving risk-taking, competitive aggressiveness, and frequent innovation.
Economic and Social Value Creation:
- While traditional entrepreneurship focuses on profit generation and economic value, social entrepreneurship emphasizes creating social value by addressing societal needs.
Entrepreneurial Judgment and Decision-Making:
- Entrepreneurs are seen as individuals who make judgmental decisions that affect the allocation and use of resources, which is crucial for the growth and survival of firms .
Dynamic and Heterogeneous Nature:
- The phenomenon of entrepreneurship is dynamic and heterogeneous, involving a complex interplay between the individual, the project, and the environment over time .

Conclusion

Entrepreneurship is a complex and multifaceted concept that involves the creation of new organizations, the assumption of risk and uncertainty, and the identification and exploitation of opportunities. It encompasses both economic and social value creation and is characterized by innovation and strategic decision-making. The dynamic and heterogeneous nature of entrepreneurship requires a comprehensive understanding of the interplay between the entrepreneur, the project, and the environment.

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What is entrepreneurship

Summary

Introduction

Key Insights

Conclusion

Sources and full results

In search of the meaning of entrepreneurship

A synthetic definition of entrepreneurship as someone who specializes in taking responsibility for and making judgmental decisions affecting the location, form, and use of goods, resources, or institutions can bridge popular and academic usage.

“Who Is an Entrepreneur?” Is the Wrong Question

Behavioral approaches to entrepreneurship research are more productive than trait approaches, as entrepreneurs are seen as a set of activities involved in organization creation.

A Conceptual Model of Entrepreneurship as Firm Behavior

Entrepreneurship is a strategic posture in firms, characterized by risk-taking, competitive aggressiveness, proactiveness, and frequent product innovation, which impacts performance.

Defining the field of research in entrepreneurship

Entrepreneurship research focuses on the dialogic relationship between individual and new value creation within an ongoing process and specific environment, emphasizing the importance of considering individual, project, environment, and links over time.

Entrepreneurship and the Theory of the Firm

The introduction of entrepreneurship into firm theory represents a radical change, crucial for growth and survival in volatile environments, and can facilitate the development of an integrated synthetic theory of the firm.

Social entrepreneurship: Key issues and concepts

Social entrepreneurship focuses on identifying, evaluating, and exploiting opportunities to create social value, rather than personal or shareholder wealth, by meeting basic and long-standing needs in society.

The Meaning of Entrepreneurship

Entrepreneurship involves uncertainty, risk, complementary managerial competence, and creative opportunism, and modern definitions that exclude these three dimensions are incomplete.

What are we talking about when we talk about entrepreneurship

Entrepreneurship focuses on characteristics and outcomes, with two viewpoints emerging: one focusing on characteristics and the other on outcomes.

Entrepreneur and Innovation

Entrepreneurship is a quality or ability that demonstrates the challenge of work, with innovation being the primary function of an entrepreneur as an organiser who initiates a new combination of production and marketing factors.

A Review on Entrepreneurship and Its Implication

Entrepreneurship is a process that involves starting a new business, taking risks, and assuming responsibility for both the company and its employees.

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